William Lie Zeckendorf, co-owner of Brown Harris Stevens, told the Miami Herald that the acquisition provided an ideal venue for the company's expansion plans. "The diverse and vibrant Miami market is an ideal venue for our expansion as many of our clients spend time there," said Zeckendorf. He also added that Zilbert's agents' undisputed wide knowledge of the market and unwavering commitment to excellence, aligns perfectly with Brown Harris Stevens' company principles, which was established in 1873.
Meanwhile, Zilbert International Realty, known for trading luxury multi-million dollar beachfront penthouses was founded by Mark Zilbert in 2003. He reportedly will be the new president of the Miami-based firm aptly named Brown Harris Stevens Zilbert. Currently, the firm has more than 30 licensed agents and will maintain its office at the Miami Beach.
Because of this recent development, locals are eyeing a positive effect from the acquisition since it will further promote the rise of the South Florida luxury market, patronized mostly by New York buyers, as reported by Daily Business Review. Furthermore, Brown Harris executives stated that Miami is "on the radar of New York buyers" more than ever before, hence having a leader in beachfront luxury condo sales such as Zilbert International Realty, gives Brown Harris an immediate front-row seat to one of the leading target markets for wealthy shoppers.
"Miami seemed to be the next market to move to in the Florida market," Brown Harris said Monday in a statement. "It is one of the fastest-growing cities in the USA and a natural referral market to New York City. Like Palm Beach, it's where New Yorkers go."
Brown Harris Stevens reports an annual $6 billion dollar profit, and boasts of a seat in the world's toniest real estate markets. Their offices are located in the Hamptons and in Worth Avenue in Palm Beach.
