Madison-based Coldwell Banker Real Estate LLC and Warburg Realty jointly announced on Oct. 5 that the two merged to form Coldwell Banker Warburg, a legacy New York firm leveraging the worldwide global power of the Coldwell Banker brand name.
Financial terms were not disclosed, but the firm will rebrand as Coldwell Banker Warburg in January of 2022.
Grounded in 240 combined years of industry knowledge and proven track records, Warburg and Coldwell each bring more than 100 years of experience and success, originating from opposite coasts of the country. The companies were established within a decade of each other, Coldwell Banker in San Francisco in 1906 and Warburg Realty in New York in 1896.
Coldwell Banker Warburg 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. This marks the Coldwell Banker brand’s expansion into Manhattan and solidifies our presence in the New York luxury real estate landscape,” Coldwell Banker Real Estate President and Chief Executive Officer M. Ryan Gorman said in a prepared statement. “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.”
Warburg Realty CEO Frederick Warburg Peters, along with his management team and brokers, will remain with the newly combined company. Warburg Realty will retain its two prime office locations, comprising more than 120 affiliated sales professionals.
Coldwell Banker Warburg will operate as part of Coldwell Banker Realty, the company-owned offices of Coldwell Banker. A subsidiary of Realogy, which owns the Coldwell Banker company-owned offices, acquired Warburg Realty.