Douglas Elliman lost $8.1 million during the first quarter due to sluggish sales in New York City and costs associated with acquiring Los Angeles-based Teles last year, the firm said Wednesday. The New York-based brokerage reported $159.4 million in first-quarter revenue, up from $155.5 million during 2017’s first quarter, according to Vector Group Ltd., which owns Elliman and New Valley, a real estate investment vehicle. Last year, Elliman’s first-quarter net income was $100,000. “The New […]
source https://therealdeal.com/2018/05/09/douglas-elliman-loses-8m-in-q1/
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