Brokerage

Century 21 breaks into Manhattan real estate market

Metropolitan Residential Partners will rebrand as franchisor's first affiliate in the heart of New York City

Century 21 is set to open its first franchise office in Manhattan in a bid to strengthen its international network and tap foreign buyers. In joining the Century 21 network, Manhattan-based Metropolitan Residential Partners will rebrand as Century 21 Metropolitan next month. At a holiday party where the news was announced to Metropolitan agents, Century 21 CEO Rick Davidson told Inman News that the brand selected Metropolitan after spending a “tremendous amount looking to the marketplace for the right partner.” Ultimately, Century 21 settled on Metropolitan due to its “experience and expertise,” particularly with foreign buyers, he said. Douglas Magid, co-owner of Metropolitan, said that half of his brokerage’s agents speak two to three languages fluently and that the company has focused on “building a boutique real estate practice.” Century 21 has about 7,100 independently owned and operated franchised broker offices in 75 countries and territories worldwide...