Sotheby's International Realty Inc. plans to expand its high-end business in Manhattan by acquiring the assets of Fenwick Keats Real Estate.
"Fenwick Keats Real Estate has long been respected in Manhattan as a boutique real estate brokerage firm, and it will be an ideal fit in our organization," said Kathryn A. Korte, president and chief executive officer of Sotheby's International Realty, Inc. "We are excited to welcome them to the firm and provide access to new marketing platforms to help expose their listings to the world through the Sotheby's International Realty network."
The Real Deal reported that the acquisition of the boutique real estate firm will add 77 agents to the ranks of Sotheby's New York and will be an infusion of high-end listings that include a $26 million Greenwich Village townhouse at 47 West 9th Street, and a $16 million property at 211 E. 62nd Street.
The acquisition will broaden the local operations of Sotheby's International Realty Inc. They will now have three offices and more than 285 independent sales associates.
According to the press release in PR Newswire, Sotheby's International Realty Inc. will also take over the former Fenwick Keats Real Estate office at 2244 Broadway at West 80th Street. Diane Levine of Sotheby's will head the West Side Manhattan brokerage office, while Fenwick co-founders Rob Anzalone and Jeff Wolk will become associate brokers at Sotheby's.
"Sotheby's International Realty is recognized globally as a leader in luxury real estate services," said Anzalone. "Their network of more than 18,000 independent sales associates in 61 countries and territories, [their] relationship with the esteemed Sotheby's auction house and state-of-the-art marketing systems will create even more opportunities for our associates to succeed. Moving forward with Sotheby's International Realty offers our associates and clients the best of both worlds: a local, boutique environment focused on providing white-glove service with the strength and reach of an international marketing organization."
