Elliman reports $12M profit in third quarter after a year of heavy losses

Douglas Elliman is still reeling from New York City’s struggling residential sector, but activity in its other markets has buoyed the brokerage’s earnings. The firm reported $11.8 million in net income during the third quarter, driven by surge in closed sales in Los Angeles, Aspen, the Hamptons and South Florida markets. That’s up 521 percent from the $1.9 million in net income the brokerage reported in the third quarter of 2019. Quarterly revenues ticked up

source https://therealdeal.com/2020/11/05/elliman-reports-12m-profit-in-third-quarter-after-a-year-of-heavy-losses/