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2 LI commercial real estate brokerages merge
Local commercial brokerages Corporate Realty Services, LLC in Hauppauge and Islandia-based Rosner & Associates, the Long Island franchisee of Coldwell Banker Commercial, have merged, the firms said Tuesday.
The new brokerage be named Coldwell Banker Commercial — Island Corporate Services and continued to operate as a franchisee of the larger national company, said Leo Farrell, the managing principal at Corporate Realty Services.
The new firm will specialize in office and industrial properties, and be led by principals Farrell, Lee Rosner and Edward Pidgeon.
“It just seemed to make sense that we would get together and cut some overhead,” he said. In addition, “certain listings are harder to get as a non-national company, this puts us in the same pool as Newmark [Knight Frank] and Cushman & Wakefield, etc., in competing for listings.”
Terms of the deal, which closed in late August, were not disclosed.
Farrell called it an “equal merger.” Both companies will bring 5 brokers and 2 support staff to the newly formed brokerage, which will be located at a new office space in Islandia.