(NEW YORK, NY) — Compass has announced that it will acquire Stribling & Associates, one of New York City’s last major independent brokerages.
And just like that, two major competitors have become one.
Stribling & Associates will be Compass’ first acquisition in New York City, increasing its presence here to 1,800 agents and 11 offices.
Stribling & Associates is known for its strong new-development marketing division, which, according to reports, caught Compass’ eye. Last year, Stribling totaled $1.62 billion in sell-side deals and ranked number five on The Real Deal’s recent ranking of residential firms in Manhattan.
Robert Reffkin, co-founder and CEO of Compass, expressed his excitement about the deal stating that he’s “honored that they have chosen to align their impressive organization with ours.”
This move will push Compass forward in its ongoing competition with top NYC firms like Elliman and Corcoran.