Michael Liebowitz Appointed Chairman and CEO of Douglas Elliman Inc.

Michael Liebowitz has been appointed as the new Chairman and Chief Executive Officer of Douglas Elliman Inc., following the retirement of Howard M. Lorber. The announcement was made by the real estate brokerage firm, which praised Lorber for his strategic vision and years of dedication in making Douglas Elliman the premier real estate firm in the country. Liebowitz previously served as the Board Director at Douglas Elliman Inc.

“Douglas Elliman is an iconic brand, and I am honored to be appointed as Chairman and CEO to lead the Company into its next chapter of growth and diversification,” said Mr. Liebowitz. “With a strong balance sheet, robust pipeline of projects in our Development Marketing business, and the competitive advantages provided by our dedicated team of world-class agents, I am confident that Douglas Elliman’s brightest days are ahead. We look forward to continue executing on our strategic vision, building on the Company’s industry-leading position and maximizing shareholder value.”

Liebowitz, a seasoned business executive with a background in founding and acquiring businesses in the insurance and financial industries, brings a wealth of experience to his new role. Over the past 25 years, he has been involved in acquiring or founding companies such as Harbor Group Consulting LLC, National Financial Partners Corp., and Innova Risk Management. He currently serves as Chairman and CEO of Nocopi Technologies Inc.

Liebowitz has also served as President and CEO of the Harbor Group Division of Alliant and High Street Valuations, until their acquisitions by Alliant. He has previously held positions on the boards of Ladenburg Thalmann Financial Services Inc. and The Hilb Group. Additionally, Liebowitz has experience in the real estate industry and is currently working on redeveloping the Mondrian South Beach Hotel in Miami, a property he has owned since 2019.

Douglas Elliman Inc. (NYSE: DOUG, “Douglas Elliman”) owns Douglas Elliman Realty, LLC, which is one of the largest residential brokerage companies in the United States with operations in New York City, Long Island, Westchester, Connecticut, New Jersey, the Hamptons, Massachusetts, Florida, California, Texas, Colorado, Nevada, Connecticut, Maryland, Virginia, and Washington, D.C. In addition, Douglas Elliman sources, uses and invests in early-stage, disruptive property technology (“PropTech”) solutions and companies and provides other real estate services, including development marketing, property management and settlement and escrow services in select markets.

Image via Douglas Elliman

Douglas Elliman Lists On The NYSE Under Ticker Symbol 'DOUG'

Douglas Elliman Inc. (NYSE: DOUG) (“Douglas Elliman”) has completed its previously announced spin-off from Vector Group Ltd. (NYSE: VGR). On Thursday December 30, 2021 Douglas Elliman officially began trading on the New York Stock Exchange under the symbol “DOUG” and has been added to the S&P SmallCap 600®.

Douglas Elliman Realty, LLC is one of the largest residential brokerage companies in the New York metropolitan area and the sixth largest in the U.S. Douglas Elliman has an established and growing presence in most major luxury markets – primarily international finance and technology hubs that are densely populated and offer housing inventory at premium pricing points. Douglas Elliman’s attractive financial profile includes a strong balance sheet with $200 million of net cash and significant operating leverage, supported by a track record of impressive revenue growth, disciplined expense management led by seasoned industry executives, healthy margins and limited capital expenditures.

As a standalone company, Douglas Elliman will leverage these core competencies and differentiated market focus to pursue profitable growth opportunities through market expansion, retention and recruitment of best-in-class talent and acquisitions and acqui-hires. Douglas Elliman will also source, use and invest in early-stage, disruptive property technology (“PropTech”) solutions and companies that easily integrate into its technology foundation, allowing Douglas Elliman to remain flexible, nimble and asset-light while providing cutting-edge solutions that improve client, customer and agent experience.

“Today marks an exciting new chapter for Douglas Elliman,” said Howard M. Lorber, Chairman and Chief Executive Officer of Douglas Elliman. “As a standalone company, Douglas Elliman will leverage its differentiated approach, portfolio of innovative technology services and a best-in-class team of employees and agents to capitalize on growth opportunities in the highly attractive U.S. residential real estate market. We believe there is a bright future ahead for our company as a standalone entity.”

“We are thrilled that Douglas Elliman has reached this milestone – one that would not be possible without the hard work and dedication of our incredible agents and employees,” said Scott Durkin, Chief Executive Officer of Douglas Elliman Realty, LLC. “As a standalone company, we look forward to building on Douglas Elliman’s leading luxury brand and longstanding tradition of excellence, while continuing to drive long-term value for stockholders.”

Douglas Elliman Celebrates Grand Opening Of New Duplex Palm Beach Office In Royal Poinciana Plaza

Douglas Elliman continues to expand its presence in South Florida and the Palm Beach market with the opening of a new office in Palm Beach’s Royal Poinciana Plaza located at 340 Royal Poinciana Way, Suite M302. The two-story, 3,539 SF location houses the firm’s 125 Palm Beach agents along with additional office space for new recruits and marketing operations.

The firm marked the occasion, its continued growth to more than 1,100 agents and 22 offices throughout Florida and continued expansion into new regions, with a grand opening celebration on November 14th hosted by Douglas Elliman’s Executive Chairman, Howard M. Lorber, Chief Executive Officer, Dottie Herman, President and COO, Scott Durkin, Chief Executive Officer of Florida Brokerage, Jay Phillip Parker, COO of Florida Brokerage, Gus Rubio and Managing Broker of Palm Beach, Jupiter and Wellington, Don Langdon. 

“We are extremely proud of our Palm Beach agents and the tremendous success they continue to achieve in one of the most exclusive markets in the world,” said Jay Phillip Parker, CEO of Douglas Elliman, Florida, “We are excited to see our current agents and future prospects utilize this expansive new space, offering state-of-the-art technology and tools for real estate associates in the renowned Royal Poinciana Plaza.”

The Royal Poinciana Plaza office will be led by Managing Broker, Don Langdon, who spearheaded the previous Palm Beach location, and will showcase developments in the area along with a portfolio of properties for sale throughout Florida.

“I am honored to work alongside some of the most successful agents who are known nationally for their record breaking accomplishments,” said Don Langdon, Managing Broker of Douglas Elliman’s Palm Beach, Wellington and Jupiter offices. “The new space, coupled with the most advanced tools, technology, marketing and public relations offered to our talented agents, allows them to better service our clients and continuously prosper. I’m extremely proud of this team and look forward to contributing to the further growth of the Florida brokerage.”  

The new office setting features fine art photography by the famed Gray Malin, who recently released a series of photographs influenced by the old-world glamour of Palm Beach including a print of the $110 million record breaking sale of La Follia, represented by Palm Beach agents, Ashley McIntosh, Gary Pohrer, Lisa Wilkonson, Cara McClure and Adam McPherson. Unique wood paneled ceilings are seen throughout the expansive floor plan with an array of private offices and two conference rooms featuring dHive glass, known for creating professional private environments that offer seamless accessibility to open work spaces where professionals can collaborate in a communal setting.

“We are excited to celebrate the reopening of Douglas Elliman in their new location at the plaza. The Royal Poinciana Plaza is home to an eclectic mix of world-class tenants, from food and fashion to specialty services and beyond, said Lilly Leas Ferreira, General Manager of The Royal Poinciana Plaza.  "Whether someone is shopping for a new dress or a new house, tenants like Douglas Elliman help us offer our guests endless opportunities to experience the Palm Beach lifestyle.”

Bravo's Million Dollar Listing Star Fredrik Eklund & John Gomes Launch Miami Team With Douglas Elliman

BRAVO’s Million Dollar Listing NY star Fredrik Eklund, John Gomes, Julia Spillman and their team at Douglas Elliman, The Eklund | Gomes Team celebrated the launch of their team’s expansion into Miami Beach at the Soho Beach House Rooftop. Making an official mark in Miami Beach, the team hosted an exclusive VIP party alongside Howard M. Lorber, chairman of Douglas Elliman, Scott Durkin, President and COO of Douglas Elliman and Jay Phillip Parker, CEO of Douglas Elliman Florida. Showing support for the dynamic duo’s newest business venture, Victoria Secret Supermodel Vita Sidorkina and husband Valerio Morabito were spotted at the private soiree. City of Miami Beach Commissioner Michael Gongora presented Eklund and Gomes an official “stamp of approval” gifting the team an official Welcome Certificate to the City of Miami Beach on behalf of the Mayor and Vice Mayor of Miami Beach.

Douglas Elliman agents, clients and developers were in attendance including Miami-based, Terra president and developer of Eighty Seven Park, David Martin, who hosted Eklund and Gomes earlier in the day at the luxury beachfront condominium designed by Pritzker Prize-winning architect Renzo Piano.

Earlier this year, Eklund and Gomes celebrated the launch of their team’s expansion into Los Angeles at The Waldorf Astoria Beverly Hills during a rooftop sunset party. The Eklund | Gomes Team at Douglas Elliman currently consists of 52 team members across New York City, Los Angeles and now, Miami Beach with addition of top Miami Beach agents Pietro Belmonte, Jorge Sanchez, Darin Tansey & Dan Hechtkopf.