Coldwell Banker Real Estate LLC, a unit of Madison-based Realogy Holdings Corp., has acquired noted Manhattan real estate brand Warburg Realty, forming Coldwell Banker Warburg, it announced this week.
A full rebranding will take place in January, the firm said. The new firm will be the first acquisition to be fully branded under the Coldwell Banker Global Luxury program.
“This is a groundbreaking moment for both Coldwell Banker and Warburg Realty,” M. Ryan Gorman, CEO and president of Coldwell Banker, said in a prepared statement. “This marks the Coldwell Banker brand’s expansion into Manhattan and solidifies our presence in the New York luxury real estate landscape.”
Warburg CEO Frederick Warburg Peters, along with his management team and brokerage force, will remain with the new company, and it will retain Warburg’s two office locations.
“With its storied legacy and tradition of extraordinary service, Warburg has earned significant respect from customers, colleagues and me,” Gorman said. “We have a strong personal relationship, and I have deep admiration for Frederick and the entire Warburg team. We look forward to further strengthening our position as a North Star of luxury real estate in New York City for many more decades to come.”