The former independent luxury brokerage The Nassimi Group has relinquished its indie status to become a 10-person team under Douglas Elliman, the brokerage announced on Friday.
The firm, which was founded in 2007 by Richard Nassimi, has a scope of operations that extends across New York, Florida, Nevada, California, Europe and Asia. Now with its affiliation with Douglas Elliman, the team will operate out of the brokerage’s office on Madison Avenue in Manhattan.
“Richard has long been a force in real estate,” Howard M. Lorber, executive chairman of Douglas Elliman, said in a statement. “We welcome his team’s expertise in international sales, and we are confident he will only build on his success here at Elliman.”
The Nassimi Group has closed over $1 billion in sales volume across commercial and residential deals over the course of Nassimi’s 16-year career. In 2022, he closed roughly $80 million in sales volume, and his priciest deal to date was a 20-year commercial lease for Hyundai Genesis at over $200 million.
“We are proud to welcome Richard and his talented team members to the Elliman community,” Scott Durkin, president and CEO of Douglas Elliman, said in a statement. “Having led his own firm, Richard has an invaluable sense of the market. As a brokerage that champions entrepreneurship, we know he’ll feel right at home here.”
The team’s focus while at Douglas Elliman will be luxury condo sales, land developments and commercial deals, according to a statement from the brokerage. Since the start of 2023, the team has signed $30 million in exclusive sales listings across both commercial and residential markets.
“I am thankful for Howard and Scott’s leadership over the years and look forward to joining the Elliman ranks,” Nassimi said in a statement. “Douglas Elliman’s exclusive partnership with the London-based firm Knight Frank will allow me to better service my international clientele and build an even bigger global property network. My team and I look forward to drawing on the support and expertise of the firm’s first-class resources in technology, marketing and public relations.”
Prior to entering real estate, Nassimi worked in precious stones and dining/hospitality as a restaurant manager. While working in those careers, he completed renovation projects in Long Island on the side, fostering his interest in real estate. He is a native of Milan, Italy, and has lived in New York for about the last 25 years.
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