Related Buys 50 Percent Stake in CORE
Related Companies, one of the city’s biggest landlords, is buying a 50 percent stake in CORE, a boutique residential brokerage firm.
The sale price has not been disclosed, according to the New York Times.
Shaun Osher, the chief executive officer of CORE, will stay on in his current position. Osher will work with Related on its future projects.
“We have built so many for-sale buildings, and we still manage every single one of them,” Jeff Blau, the chief executive of Related told the newspaper. “But when it comes time for someone to move out, we can’t service them. This deal will allow us to keep our relationship with our original customers, many of whom become repeat buyers.”
CORE was one of the first brokerages to sign onto HGTV’s “Selling New York” and has brokered deals in buildings such as One Museum Mile on Fifth Avenue and Chelsea’s Walker Tower.