Coldwell Banker Announces Acquisition of Iconic Manhattan Real Estate Brand Warburg Realty
With strategic acquisition, Warburg Realty in New York City to become Coldwell Banker Warburg with Coldwell Banker Global Luxury offices
MADISON, N.J., Oct. 5, 2021 /PRNewswire/ -- Coldwell Banker Real Estate, LLC and Warburg Realty, two of the most trusted and exemplary real estate companies in America, have joined together to form Coldwell Banker Warburg, a legacy New York firm leveraging the worldwide global power of the Coldwell Banker brand name. The new powerhouse Coldwell Banker Warburg will be fully rebranded in January of 2022, following filing with the State.
Warburg Realty and Coldwell Banker each bring more than 100 years of industry experience and success, originating from opposite coasts of the country. The companies were established within a decade of each other, Coldwell Banker in San Francisco in 1906 and Warburg Realty in New York in 1896. The newly combined entity is thus grounded in 240 combined years of industry knowledge and proven track records of excellence.
Chief Executive Officer of Warburg Realty Frederick Warburg Peters, along with his management team and elite brokerage force, will remain with the newly combined company. Warburg Realty will retain its two prime office locations, comprising more than 120 affiliated sales professionals.
Coldwell Banker Warburg will be the first acquisition to be fully branded under the Coldwell Banker Global Luxury program, underlining the significance of a top-quality New York presence added to the Coldwell Banker brand's best-in-class client services in such markets as Los Angeles, Aspen, Colorado and Miami.
For over 120 years, Warburg Realty has defined the highest standard in luxury real estate brokerage and has built, managed, and brokered many of New York City's most prominent houses and apartments. While Warburg has maintained a cutting-edge profile and constantly adapted to an ever-changing industry, the addition of the Coldwell Banker brand's cutting-edge suite of marketing, education, and state-of-the-art technology tools will enable the firm to even more effectively spread its wings. Led by CEO, broker, and real estate innovator Frederick Warburg Peters and headquartered on Madison Avenue, the company's affiliated agents are strategically located across Manhattan to ensure every client has seamless access to the city's finest properties.
Warburg Realty luxury agents are leaders in the New York Market and this partnership will provide them with the Coldwell Banker brand's powerful Global Luxury certification program and access to a global network of luxury experts to better serve their high-net-worth clientele. The Coldwell Banker Global Luxury program represents over $168 million in sales volume daily based on 2020 data. Having a New York presence will significantly strengthen the company's global position while reinforcing Warburg's leadership in the New York luxury space.
The newly minted Coldwell Banker Warburg will continue to deliver the same top-quality services clients have come to expect. Enjoying centuries of joint experience and on-the-ground resources, Coldwell Banker Warburg will continue to push the industry forward.
QUOTES:
"This is a groundbreaking moment for both Coldwell Banker and Warburg Realty. This marks the Coldwell Banker brand's expansion into Manhattan and solidifies our presence in the New York luxury real estate landscape. With its storied legacy and tradition of extraordinary service, Warburg has earned significant respect from customers, colleagues, and me. We have a strong personal relationship, and I have deep admiration for Frederick and the entire Warburg team. We look forward to further strengthening our position as a North Star of luxury real estate in New York City for many more decades to come."
—M. Ryan Gorman, president and CEO, Coldwell Banker Real Estate LLC
"I am extremely proud and happy to see Warburg Realty become a partner in the Coldwell Banker brand's Global Luxury initiative. Throughout my 40-year career in residential real estate, I have worked to elevate the integrity and professionalism of our industry. Working with the Coldwell Banker brand, I am giving Warburg agents the finest tools to create even more value for our clients and customers. I know this joining of congruent brands will benefit us all. We can't wait to get started!"
—Frederick Warburg Peters, CEO, Coldwell Banker Warburg
Coldwell Banker Warburg will operate as part of Coldwell Banker Realty, the company-owned offices of Coldwell Banker. A subsidiary of Realogy (NYSE: RLGY), which owns the Coldwell Banker company-owned offices, acquired Warburg Realty.
About Coldwell Banker Real Estate LLC
Powered by its network of over 96,000 affiliated sales professionals in approximately 2,900 offices across 40 countries and territories, the Coldwell Banker® organization is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty and an empowering culture of excellence since its beginnings in 1906. Coldwell Banker Real Estate is committed to providing its network of sales professionals with the tools and insights needed to excel in today's marketplace and is known for its bold leadership and dedication to driving the industry forward. The brand was named among the 2021 Women's Choice Award® Most Recommended brands for customer experience and overall quality. Blue is bold and the integrity and values of Coldwell Banker give the Gen Blue network an unbeatable edge. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. To join Coldwell Banker Real Estate and unlock the possibilities of Gen Blue®, please visit www.coldwellbanker.com/join.
About Coldwell Banker Global Luxury®
The Coldwell Banker Global Luxury® program legacy traces its roots to 1933 and has been a world leader in luxury real estate since. Coldwell Banker Global Luxury Property Specialists are an exclusive group within the Coldwell Banker organization, making up under ten percent of independent sales associates affiliated with the brand worldwide. Coldwell Banker affiliated agents conducted 27,595 transactions of homes priced at $1 million or more in 2019, more than any other national real estate brand. This equates to $144.4 million in sales every day with an average sales price of $1.9 million in this category. Coldwell Banker, the Coldwell Banker logo Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo are registered marks owned by Coldwell Banker Real Estate LLC. Each franchise is independently owned and operated.
About Realogy Holdings Corp.
Realogy (NYSE: RLGY) is moving the real estate industry to what's next. As the leading and most integrated provider of U.S. residential real estate services encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture, Realogy supported approximately 1.4 million home transactions in 2020. The company's diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of its approximately 194,200 independent sales agents in the U.S. and more than 142,700 independent sales agents in 117 other countries and territories, helping them build stronger businesses and best serve today's consumers. Recognized for ten consecutive years as one of the World's Most Ethical Companies, Realogy has also been designated a Great Place to Work four years in a row and is one of LinkedIn's 2021 Top Companies in the U.S.
Media Inquiries: |
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Athena Snow |
Kristen Carmen |
Coldwell Banker Real Estate LLC |
G&S for Coldwell Banker Real Estate LLC |
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SOURCE Coldwell Banker Real Estate LLC
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