Industry News

Corcoran, NRT get comfortable in Hamptons, Palm Beach real estate

East Coast luxury-home markets lure acquisitions-hungry competitors

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The Corcoran Group and parent NRT Inc. are feeling very at home in the Hamptons and in Palm Beach, two burgeoning real estate markets for high-end homes. On March 16, The Corcoran Group announced its acquisition of Dayton/Halstead LLC, a real estate powerhouse in the Hamptons and neighboring communities in Long Island's East End for nearly a century. The Corcoran Group's first foray into the Hamptons came in October, when it picked up the 10 offices of Easthamptons-based Cook Pony Farm Real Estate. In the same stroke, Corcoran announced the acquisition of Paulette Koch Real Estate in Palm Beach, Fla. NRT's February acquisition of Sotheby's International Realty brought under the NRT umbrella 15 new offices, including three in the Hamptons area and one Palm Beach-area office that was among Sotheby's largest producers. The Corcoran Group now has 23 offices and more than 1,100 sales associates concentrated in Manhattan, Brooklyn, the Hamptons and outlying areas, and Palm Beach. Sothe...