The Corcoran Group has entered into a partnership with John Taylor, an international luxury real estate company founded in 1864 in Cannes, France. The two firms will share listings to better serve clients who are increasingly internationally based.
“What’s really great about John Taylor and Corcoran is that we really have the same clientele,” explained Ernie Cervi, an executive managing director at Corcoran who is based in Bridgehampton, on Friday. “We are where international people want to go,” he said of the South Fork. “We have a lot of people who come out here who do have homes internationally.”
An increasing number of international buyers in New York City will naturally evolve into more people seeking to invest in property farther east, he said. “If you buy a place in Manhattan and it’s summer, you’re going to come out to the Hamptons.”
John Taylor has a portfolio of more than 2,400 properties in France, Italy, Spain, Monaco, the United Kingdom, Qatar, Russia, Mauritius and Switzerland worth more than $12 billion, according to a press release. In 2013, the firm’s average transaction price was $5.5 million.
Corcoran operates 40 offices with 2,200 sales associates serving Manhattan, Brooklyn, the Hamptons, the North Fork, Shelter Island, Miami Beach, Delray Beach and Palm Beach and is part of NRT LLC, the nation’s largest residential real estate brokerage company and a subsidiary of Realogy Holdings Corp.
The new alliance will enable Corcoran’s agents to help clients find properties abroad, of course, as well as the other way around. “If somebody wants to buy something in Madrid, we would then be able to refer that person to John Taylor,” Mr. Cervi explained. “As you’re working with someone and you get to know them, these things do come up.”
“High-end American clients have always been very important for John Taylor,” Daniel Masnaghetti, managing director of John Taylor Corporate, was quoted as saying in the press release. “Historically, they have eagerly sought top properties in their favored locations such as France’s Côte D’Azur, Paris, Monaco, Geneva and Lake Como.”
Virginia Garrison
27east on Dec 15, 2014