Inside Town Residential’s holiday bash: PHOTOS

It’s typically one of the biggest real estate parties of the year, ending with brokers tumbling out of Tao’s Meatpacking District venue in the wee hours. While still attracting hundreds of people, Town Residential’s annual holiday bash struck a different tone this year thanks to a move to Central Park’s iconic Tavern on the Green. […]

Compass gets the cold shoulder

From the November issue: If the residential real estate world were the high school cafeteria, venture capital-backed brokerage Compass would almost certainly be the kid eating lunch alone. The three-year-old startup, headed by Robert Reffkin and Ori Allon, has irked so many brokerage chiefs with its aggressive poaching strategies that one has actually banned company representatives […]

Judge calls for hearing on Wendy Maitland’s noncompete with Town Residential

A judge will decide by the end of the month whether to enforce Wendy Maitland’s noncompete with Town Residential, which would effectively block her from continuing much of her work at Brown Harris Stevens. The judge overseeing her case has called for Aug. 29 hearing, during which arguments can be made to determine if the firm’s […]

Town/Agency merger is off: Heiberger

Mauricio Umansky, Andrew Heiberger and Joe Sitt A potential merger between Town Residential and boutique Beverly Hills brokerage the Agency is now dead in the water. Town CEO Andrew Heiberger informed his managers this afternoon that he and co-owner Joseph Sitt would not move forward with merger talks, according to an email reviewed by The […]

Brokerage in talks to merge with Town made under $1M over 36-month period

Mauricio Umansky and Billy Rose of the Agency From the Los Angeles website: The Agency, a Beverly Hills-based luxury brokerage in talks to merge with Town Residential, made less than $1 million in net income in the 36 months ending Dec. 31, 2014, documents obtained by The Real Deal show. The Agency posted its best […]

Elliman smells blood in the water at Town

(inset: Michael Signet ) The sharks are already circling. Following The Real Deal’s report Wednesday that Town Residential’s president of sales Wendy Maitland is suing the firm and accusing co-owner Joseph Sitt of bleeding it dry, a Douglas Elliman manager is wasting no time trying to poach Town’s talent. Michael Signet, an executive vice president […]