Industry News

Acquisitions Gold Rush continues in Long Island

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

    New York-based Prudential Douglas Elliman strengthened its "Manhattan to Montauk" mantra with the acquisition of Goodstein Realty, a firm with more than 145 agents and $355 million in closed sales volume in 2003. The move is part of a wave of aggressive acquisitions activity in the Long Island region, where major competitors are gobbling up smaller boutique brokers in quick succession to get a bigger share of a booming market.   Lara Berdine, a spokeswoman for Elliman, said the acquisition of Goodstein Realty's offices in Great Neck and Roslyn give the company its first offices on the North Shore of Long Island. The move fills "a gap in the road from 'Manhattan to Montauk,'" she said, referring to Elliman's string of offices from New York City to Long Island.   Elliman in November announced the acquisition of Celic Realty, a full-service company with about 35 employees operating in the North Fork area of Long Island. The Corcoran Group and parent NRT...