Stung by a slowdown in the residential market, Douglas Elliman pocketed $5.2 million in 2018 profits — a quarter of last year’s net income — parent company Vector Group reported Thursday. The New York-based brokerage, led by Howard Lorber, reported total revenue of $754.1 million in 2018, up 4.4 percent year over year. During the fourth quarter, the brokerage lost $2.6 million, compared to net income gain of $900,000 in 2017’s fourth quarter. Revenue remained […]
source https://therealdeal.com/2019/02/28/ellimans-profits-plunge-75-in-2018-amid-resi-market-slowdown/
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