The Bellmarc Group — one of the largest residential brokerages in Manhattan, with 600 agents in seven offices — has joined the Coldwell Banker franchise system, the companies said today.
Owners Neil Binder, Anthony DeGrotta and Larry Friedman will now do business as Coldwell Banker Bellmarc and Coldwell Banker AC Lawrence.
Binder co-founded Bellmarc in 1979, and the company expanded into Manhattan residential rentals in 2012 with the acquisition of AC Lawrence Real Estate LLC. The owners of that company, DeGrotta and Friedman, joined Binder in forming a new umbrella company, The Bellmarc Group.
Budge Huskey, president and CEO of Coldwell Banker Real Estate LLC, said in a statement that the franchisor “took great care in identifying the right company to award a Manhattan franchise.”
“As a leading international brand, it’s an incredibly important city for us,” Huskey said. Coldwell Banker chose The Bellmarc Group, he said, because of the relationships its principals had in New York City real estate.
Binder, who will serve as president of Coldwell Banker The Bellmarc Group, called Coldwell Banker “the premier international real estate brand” with reach into locations in Europe, Asia and Latin America.
For the firm to go to the next level, Friedman said, the company needed to join up with a brand like Coldwell Banker that had a strong international presence.
Now with the Coldwell Banker relationship behind the business, DeGrotta said, the firm has the framework to handle higher-end rentals and properties in the city and beyond. “We can now service clients through their life in New York City and outside it,” he said.
Coldwell Banker, a subsidiary of Realogy Holdings Corp., has a network of more than 82,000 sales agents working in about 3,100 offices in 50 countries and territories. Each office is independently owned and operated.
Editor’s note: This story has been updated to include comments from Budge Huskey, Larry Friedman and Anthony DeGrotta.