Shareholder Bradley Tirpak said in a letter to investors that Lorber's leadership had fallen short as the firm has continued to see financial losses and scrutiny amid the Alexander brothers scandal
With the investment, Kennedy Lewis co-founder and Co-Managing Partner David Chene will join Douglas Elliman's board. Douglas Elliman also released preliminary Q2 2024 financial results
The complimentary platform 'Elliman Showroom' will combine the services of a personal assistant with a dashboard of recommended vendors to help clients with the move-in process
The New York-based brokerage will now trade under the ticker 'DOUG' as a standalone company after parting ways with Vector Group, the owner of a tobacco firm
If approved by the FTC and Vector Group's board, Douglas Elliman's shares would trade under the ticker 'DOUG' on the New York Stock Exchange
The company also saw its sales volume climb to $10.1 billion in the first quarter of 2021, up 71 percent compared to the same period in 2020
Vector Group, which launched its proptech investment arm in March, has now added Humming Homes to its list of invested in companies
New Valley Ventures from Vector Group aims to invest in startups focused on supporting a 'rapid transformation of the real estate industry for the benefit of the agent'
Ed D’Ambrosio, who is the brother of Douglas Elliman CEO Dottie Herman, has left his sister's company to join Compass as a sales director in the Hamptons
Vector Group now owns 100% of the brokerage, until now one of the few female-owned US real estate companies