The Bellmarc Group announced the acquisition of New York City residential and commercial real estate brokerage AC Lawrence Real Estate LLC last week. Terms were not disclosed.
Newly-formed limited liability company The Bellmarc Group will now have as its initial members both The Bellmarc Companies — New York’s oldest independently-owned residential sales brokerage, founded in 1979 and currently owned by Neil Binder — and AC Lawrence Real Estate LLC.
Operating under The Bellmarc Group umbrella, Bellmarc and AC Lawrence will each maintain their brand identities, while utilizing the capabilities and technology of the other.
In addition, Bellmarc sales agents will be able to participate in AC Lawrence’s rental training program and AC Lawrence agents will be able to participate in Bellmarc’s sales training. Bellmarc’s sales training is generally recognized as among the best and most extensive in the industry. It was developed by Binder, the author of The Ultimate Guide to Buying and Selling Coops and Condos in New York City and other sales books, and he is actively involved in working with all trainees.
“I am very pleased about the expanded service that Bellmarc is offering to the public and all its agents; I am particularly excited about working with AC Lawrence rental agents to broaden their skills. It is a great honor to have this opportunity. Both companies are committed to providing our customers with the finest possible service, which we hope will exceed their expectations,” said Binder.
Operating and leading The Bellmarc Group and its member companies will be Binder, alongside Anthony DeGrotta and Larry Friedman, co-founders of A.C. Lawrence & Company Inc. The Bellmarc Group, now 400 agents, is a combination: a primarily sales-focused firm, with Bellmarc’s 250 agents, and a primarily rentals-focused firm, with 150 agents at AC Lawrence.
“The two entities are committed to maintaining a cultural and brand separation, so that agents in each firm will continue working on the primary business offered by their company,” said Freidman.
“However, we are eager to provide our clients services across the board. AC Lawrence agents will be encouraged to learn and engage in sales and Bellmarc agents will be encouraged to look at rentals. Agents in each company will be given the opportunity to engage in either, depending on their personal goals and objectives.”
“Partnering with Bellmarc gives us the chance to enhance our overall presence in the marketplace,ˮ added DeGrotta. “We are now able to provide broader service, superior training and enhanced technology. This is a significant event that we believe is a positive step for everyone.
“Bellmarc’s Broadway and 22nd Street location has been remodeled to serve the expanded needs of The Bellmarc Group, which actively is seeking additional acquisitions, as well as prime office space to expand into geographic areas not fully served currently.”