Sotheby's International Realty Expands Presence in Brooklyn

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Oct 06, 2021, 11:00 ET

NEW YORK, Oct. 6, 2021 /PRNewswire/ -- Sotheby's International Realty today announced that Madison Estates has joined the network and will now operate as Madison Estates Sotheby's International Realty. The addition comes at a time the city is seeing a resurgence of interest and increases in significant closed sales. The company has been in business for nearly 70 years, and this will mark the brand's fourth affiliated office in the borough.

Madison Estates Sotheby's International Realty is owned and operated by Gerard Longo and Joseph Baglio who bring a collective 50 years of experience to the company. The office is headquartered in Brooklyn's South Shore neighborhood and will service the surrounding area.

"The Brooklyn real estate market continues to appeal to a wide variety of buyers," said Philip White, president and CEO, Sotheby's International Realty. "The market is seeing significant growth in the luxury sector and continues to appeal to international buyers and young professionals from the tech and financial industries. Our recent affiliation with Madison Estates Sotheby's International Realty further strengthens our confidence in one of the greatest cities in the world to own real estate. We look forward to supporting Gerard, Joseph, and their team."

"Brooklyn is a fusion of residents from all cultural backgrounds," said Longo and Baglio. "We believe that this is what makes this borough so strong and unique. It offers buyers the perfect mix of an urban and suburban lifestyle that is rich in culture, nightlife, restaurants, and more. Through our affiliation with Sotheby's International Realty, we will have the tools and support we need to further expand our business to break into the South Shore Brooklyn market. Aligning with the brand will afford our agents a huge advantage allowing them to expand their current footprint with global recognition."

Madison Estates Sotheby's International Realty possesses nearly 50 professional real estate agents and has strong ties to the community supporting a variety of charitable efforts with a strong focus on advocating for youth initiatives.

The Sotheby's International Realty® network currently has more than 24,000 affiliated independent sales associates located in approximately 1,000 offices in 75 countries and territories worldwide. Madison Estates Sotheby's International Realty listings are marketed on the sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm's brokers and clients will benefit from an association with Sotheby's auction house and worldwide Sotheby's International Realty marketing programs. Each office is independently owned and operated.

Sotheby's International Realty

Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house. Today, the company's global footprint spans approximately 1,000 offices located in 75 countries and territories worldwide, including 45 company-owned brokerage offices in key metropolitan and resort markets. In February 2004, Realogy entered a long-term strategic alliance with Sotheby's, the operator of the auction house. The agreement provided for the licensing of Sotheby's International Realty name and the development of a franchise system. The franchise system is comprised of an affiliate network, where each office is independently owned and operated. Sotheby's International Realty supports its affiliates and agents with a host of operational, marketing, recruiting, educational and business development resources. Affiliates and agents also benefit from an association with the venerable Sotheby's auction house, established in 1744. For more information, visit www.sothebysrealty.com.

The affiliate network is operated by Sotheby's International Realty Affiliates LLC, and the company owned brokerages are operated by Sotheby's International Realty, Inc. Both entities are subsidiaries of Realogy Holdings Corp. (NYSE: RLGY) a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Both Sotheby's International Realty Affiliates LLC and Sotheby's International Realty, Inc. fully support the principles of the Fair Housing Act and the Equal Opportunity Act.

Contact
Melissa Couch
973-407-6142
[email protected]

SOURCE Sotheby's International Realty