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Douglas Elliman Sales Jump to $26.1 Billion in 2017

February 2, 2018

Douglas Elliman closed out 2017 with $26.1 billion in sales which translates to a 6.1 percent over the prior year. Great news amidst fewer new development sales and buyers looking for a deal. See The Real Deal article

Strong fourth quarter sales contributed to Elliman’s 2017 numbers. Up 10.5 percent from 2016, the New York based brokerage had $6.3 billion in sales between October 1 through December 31, 2017. In December, an unknown buyer paid $91.1 million for three units at 432 Park Avenue along with other eight-figure deals at the high-rise marketed by Elliman.

According to The Real Deal’s most recent ranking of top firms, Elliman is the largest residential brokerage by agent count with 2,350 agent in Manhattan. Elliman expanded its nationwide presence last year with the acquisition of Los Angeles-based Tele and new development specialist Otis & Ahearn in Boston.

Pleased to be affiliated with of Douglas Elliman, Nicholas Malinosky and Randy Ely have achieved the designation as Executive Directors of Luxury Sales for the Delray Beach office. With over 40 years of combined experience, Randy & Nick reached over $100 million in total sales volume during 2017 and are experiencing a productive 2018.

Looking to sell your oceanfront compound? Ready to buy a waterfront estate? Want to purchase a beach area residence? Please contact Nicholas Malinosky and Randy Ely to discuss your luxury real estate goals.

It’s Time for Elliman!

Photo courtesy of The Real Deal.

Great Week for Miami’s Condo Market and Douglas Elliman

October 4, 2017

It was a great week for Miami’s condo market. According to The Real Deal South Florida Real Estate News, the Miami-Dade condo market had an increase in activity last week with 190 units selling for a total of nearly $83 million. The top 10 deals ranged from $1.15 million to $8 million. See The Real Deal article

Douglas Elliman‘s South Florida agents contributed to the successful condo transactions last week. The most expensive sale was Regalia #14 in Sunny Isles Beach which sold for $8M and was listed by Chad Carroll. The second priciest sale of the week was a condo at St Regis Bal Harbour which sold for $5.83M and was listed by Senada Adzem. Douglas Elliman Delray Beach agents Nicholas Malinosky and Randy Ely congratulate their colleagues, Chad and Senada on their sales transactions.

Looking to buy or sell an oceanfront condo in South Florida? Contact The Randy and Nick Team to discuss the current luxury real estate market. Check out one of The Team’s Exclusive Listings at Las Olas Beach Club:
101 South Fort Lauderdale Beach Boulevard #1903 listed for $2.35M

Photo: Douglas Elliman

Douglas Elliman is Acquiring Beverly Hills-Based Teles

August 2, 2017

Douglas Elliman is acquiring Teles, making the firm one of the largest in California. The acquisition will add over 500 agents and 20 offices to the Douglas Elliman brand. The expansion will give Elliman more than 7,000 agents and 110 offices.

Teles reported revenue of $3.4 billion last year will be rebranded as Douglas Elliman in the fall. According to the chairman of Elliman, Howard Lorber, the company talked to several firms in the Los Angeles area. ‘œWhen we spoke to Teles, they had offices in all the markets we wanted to be in,’ Lorber said. See The Real Deal article.

Established in 1911 in New York, Douglas Elliman represents the highest standards of service and integrity. With 20 offices in South Florida alone, Douglas Elliman is able to network across the luxury beach area markets from Palm Beach to Miami. As the Executive Directors of Luxury Sales for Douglas Elliman Delray Beach, Nicholas Malinosky and Randy Ely work closely with their Elliman colleagues in Florida, New York, Colorado and California and beyond in order to showcase their exclusive listings to a broad audience.

Are you interested in discussing the Douglas Elliman difference? Contact Nicholas Malinosky to start the conversation.

Malibu Sets $85M Record Sale: Healthy Market for Rich and Famous

July 17, 2017

Malibu set a new luxury real estate record with $85M deal in May proving that residential sales prices are climbing in a healthy market. Always a favorite escape for the rich and famous, Malibu’s revamped downtown is inviting L.A. buyers to purchase primary residences.

According to The Real Deal article on July 14, the $85M transaction beat out the previous $75M record sale set in 2013. With more buyers and a limited inventory, prices are on the rise. The median sales price for 1st Quarter 2017 in Malibu was up 14% according to Douglas Elliman who recently opened an office in Malibu. Other big sales include the sale of the Sweetwater Mesa Road Compound in March for $69.9M. The 15-acre property was the biggest non-oceanfront property transaction in Malibu. See full article

Investors and real estate experts alike contribute Malibu’s activity to the reversal of anti-development legislation and improved downtown amenities including a healthy night life. The opening of the luxury hotel Nobu Ryokan Malibe and Soho Club have brought life to the downtown area. A 24,000 square foot Whole Foods is in the works as well as other retail options.

Whether looking for a primary residence or a third or fourth home, Malibu is a desirable location. Carbon Beach is known as Billionaire’s Beach with some of the most expensive sales and listings, Malibu Colony offers a bit more privacy and Point Dume offers the ‘œvintage California experience’. Malibu’s real estate transactions are often off-market and confidential due to the wealthy celebrities involved. ‘œThe reality is Malibu is the closest getaway from Los Angeles’ according to Douglas Elliman agent Tracy Tutor Maltas who says it is a 30 minute drive. See full article

Interested in the luxury real estate market in Malibu? Palm Beach? Aspen? The Hamptons? Miami? Contact Nicholas Malinosky and Randy Ely, the Executive Directors of Luxury Sales in the Douglas Elliman Delray Beach office. Nick and Randy enjoy networking with their fellow Douglas Elliman colleagues throughout the nation and can assist you with your luxury real estate goals; no matter where you want to live.

Douglas Elliman Real Estate Sealed More Deals Than Any Other Real Estate Firm in Manhattan

May 21, 2016

This month The Real Deal Magazine announced that the Douglas Elliman Real Estate sealed more deals than any other real estate firm in Manhattan. Douglas Elliman Real Estate hit the No. 1 spot with $6.13 billion in sales over the last year. This number is up 43 percent from the previous year and represents $700 million more than the nearest competitor.

According to E.B. Solomont’s article, ‘œThe Real Deal based its rankings on closed transactions in Manhattan for which the firm held the exclusive listing during the 12 months that ended on February 29. It does not include buy-side deals.’ The Top 25 firms closed more than $20.8 billion worth of transactions during the 12 month period.

The writer credits the increase in sales volume to the influx of new condo sales. The many deals that were written pre-construction and have been under contract for months and even years are finally closing. Solomont also notes that an increase in prices over that last few years means that fewer sales resulted in a higher sales volume. See full article for details

South Florida Douglas Elliman Real Estate agents Nicholas Malinosky and Randy Ely are not surprised by the good news. Mr. Malinosky and Mr. Ely know that their fellow Manhattan Corcoran colleagues are the top agents in the industry. It is no secret that Douglas Elliman Real Estate agents achieve record breaking sales year after year in the luxury real estate markets of South Florida and New York.

Ready to work with the #1 Luxury Team in the Beach Area? Nicholas Malinosky and Randy Ely are available to help you achieve your luxury real estate goals.

The Biggest Mall in America Proposed for Miami

May 12, 2016

According to The Real Deal South Florida, Miami could soon be home to the biggest mall in America. Triple Five is planning American Dream Miami with a target opening in 2020. The Miami development will combine entertainment and shopping on 200 acres with 6.2 million square feet of floor space and 3.5 million square feet of leasable retail space (1 million more than Mall of America located outside Minneapolis and also owned by Triple Five).

Taken from the National Retail Market Report, the article explains the plight of the shopping mall over the last decade. In order to combat internet shopping, ‘œsome developers are building bigger and more extravagant shopping centers than ever before. In addition to having a greater diversity of stores and restaurants, these next-generation malls are relying heavily on entertainment to drive sales.’ John Spina further explains in the Real Deal article that ‘œthe top retail developers are now selling an experience with retail present, and not the other way around.’ The new malls will combine amusement parks, fashion shows, celebrity chefs and stunning architecture to attract consumers. Green Street Advisors, a California-based real estate think tank noted that ‘œit’s advantageous for a mall to be able to support high-value luxury retailers of goods that people are less likely to shop for online.’ For example, Tiffany & Co. is the retailer with the highest amount of sales per square foot.

American Dream Miami is hoping to include a water park, ski slope, theme park, live entertainment venue, movie theaters, lake with submarine rides, outdoor fishing an Art Deco village and more. In order to create the ‘œultimate family experience’, the destination mall will offer a wide variety of restaurants and a moderately priced 2,000-room hotel. See Plans for Mall

Triple Five is also planning American Dream Meadowlands in New Jersey to open in 2017. The mall will not be as large as the Miami project, but promises to offer a wide variety of shopping and entertainment venues. There are several other destination shopping projects planned across the United States. Century City in Los Angeles is planning a relaunch in 2017, Miami Worlcenter is targeted to open in fall 2018, Sacremento Railyards is a large-scale retail development set to open in phases over the next several years and Luxury Point in Sayreville, New Jersey is set to open in phases over the next few years. See Full Article

How would you like to live near the soon-to-be largest mall in America? Miami is a short distance from the Palm Beaches. Contact Nicholas Malinosky about buying a luxury home in the beach area. Mr. Malinosky is ready to help you achieve your luxury real estate goals.

Douglas Elliman Real Estate Celebrates 2015 Record-Breaking Sales of $21 Billion

March 23, 2016

According to a March 22 post on both The Real Deal and New York’s citybizlist, Douglas Elliman Real Estate had its best year yet in 2015 with a record $21 billion in sales volume. The numbers represent a nearly 17% year-over-year increase in nationwide sales volume for the company. See Details

The announcement was celebrated on March 6 in Fort Lauderdale where Corcoran President and CEO, Pamela Liebman accepted four ‘œ2015 Top Performing NRT Company’ awards. See Details

The Douglas Elliman Real Estate operates 40 offices with 2,200 sales associates serving New York and South Florida. Randy Ely and Nicholas Malinosky are agents in the Delray Beach Corcoran office and are pleased to have helped contribute to this award-winning accomplishment.

Want more information about the Luxury Real Estate Market, please contact Randy Ely and Nicholas Malinosky, the #1 Luxury Team in the Beach Area.