Industry News

Coldwell builds East Coast real estate presence

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Coldwell Banker Residential Brokerage in New Jersey and Rockland County, N.Y., recently announced that it has acquired the assets of GFM Realty Group Inc. and GFM Group Inc., an entity that operates as Murphy Realty Preferred Homes in Rumson, N.J. The firm will now operate under the banner of Coldwell Banker Residential Brokerage. Murphy Realty Preferred Homes operates five offices in Red Bank, Long Branch, Rumson, Lincroft and Sea Girt. The firm's more than 140 sales associates accounted for $227 million in total closed sales volume in 2005. With this announcement, Coldwell Banker Residential Brokerage has approximately 3,900 sales associates operating in 71 offices in New Jersey and Rockland County, N.Y. The companies report a combined total closed sales volume of nearly $12 billion in 2005. Gerald Murphy, an owner of Murphy Realty Preferred Homes, will become a member of the business development team with the newly combined organization, and he will be located in the company's Re...