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New York-based brokerage The Corcoran Group has added a new affiliate to its ranks in New Jersey, the company announced on Tuesday.
Formerly known as Sawyer Smith Residential, Corcoran Sawyer Smith serves the markets of Hoboken and Jersey City. The company is operated and owned by Timothy Sawyer Smith.
“I’m thrilled that we’re growing our footprint in our neighboring New Jersey with Corcoran Sawyer Smith, especially as they’re welcoming team members on day one,” Corcoran Group President and CEO Pamela Liebman said in a statement.
In addition, Corcoran Sawyer Smith will bring on the firm previously known as Hudson Place Realty Inc. to its ranks.
Jersey City is the third-largest city in the New York metro area behind New York City and Newark. With their well-maintained parks and community spaces, as well as quality restaurants and bustling arts and cultural scenes, Jersey City and Hoboken are desirable markets for Corcoran’s affiliate expansion.
“With Jersey City/Hoboken serving as a key feeder market in and out of New York City, this decision was a strategic one,” Liebman added. “There are plenty of eager clientele and the area is simply a lovely place to live. I look forward to seeing all that the Corcoran Sawyer Smith team will do as stewards of our growing brand.”
Smith started his 20-plus-year real estate career in New York City and subsequently moved to Jersey City. He began his career working on new construction marketing and sales and after 11 years transitioned to residential sales. He founded his own brokerage in 2012. Since then, Smith has grown the brokerage from two agents to about 40 agents and staff members, accelerating the business to become the No. 3 brokerage in Jersey City for transaction volume.
“As a young agent starting in real estate in the mid-1990s in New York City, the Corcoran brand for me represented the very best in properties and professionalism,” Smith said in a statement. “Fast-forwarding 20 years now, having the opportunity to represent this legacy in New Jersey is quite surreal.”
Smith will serve as the Corcoran Sawyer Smith’s principal and founder while Jon Sisti, founder of Hudson Place Realty, will serve as managing broker of the firm’s Uptown Hoboken office. Katherine Silver, formerly executive vice president and managing broker of Sawyer Smith Residential, will become managing broker of the firm’s Downtown Hoboken office.
“Having run a successful boutique real estate firm for more than 35 years, I am delighted to merge with Sawyer Smith and thereby Corcoran,” Sisti said in a statement. “Both companies have impressed me throughout the years. We share similar values, principles and company cultures. We’re very excited to take things to the next level.”