Douglas Elliman’s revenue soared 18 percent during the second quarter as New York City buyers rushed to close deals before a new transfer tax went into effect July 1, parent company Vector Group said Wednesday. The New York-based brokerage raked in $243 million during the quarter, compared to revenue of $205.6 million a year ago. Despite pressure on brokerage margins throughout the industry, Elliman reported net income of $15.1 million, up from $5.9 million, thanks […]
source https://therealdeal.com/national/2019/08/07/douglas-ellimans-revenue-rose-18-after-sales-frenzy-to-avoid-new-yorks-new-transfer-tax/#new_tab
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