Corcoran Hamptons Update: 'World-Class Watering Hole'

Observer Staff — Thu, 10 Aug 2006 11:45:12 -0400

Pam, Hamptons-bound

Monolithic real estate firm NRT acquired Bridgehampton's Allan M. Schnieder Associates this afternoon. (Sales prices, sadly, were not disclosed). Schneider will be absorbed into the Corcoran Group, thus combining the East End's two biggest real estate brokerages.

We talked to the young couple, including Corcoran CEO Pam Liebman and Schneider principals (now Corcoran senior managing directors) Peter Hallock, Timothy Davis and Peggy Griffin.

Mr. Davis on today's dour Times Hamptons piece: "We've actually experienced a record year so far--and 2005 was a 30% boost over the year before. People like to report on negative news."

Mr. Hallock on Hamptons negativity: "One house not selling doesn't make or break the market." (And earlier: "We're happy campers!")

Mr. Hallock on the Hamptons allure: "To have the pristine beaches and the wonderful zoning and being a hundred miles from the best city in the world? It's a world class wateringhole."

Ms. Liebman on Corcoran's future Hamptons growth: "We never pass up a good opportunity. But it doesn't get much better than this. Certainly there may be some small boutiques, though. We always look for new business opportunities."

Mr. Hallock on hip Hamptons 'hoods: "You know for years we've been watching Hampton Bays, and wondering when to jump in. We jumped in about a year and a half ago, when Starbucks opened. We thought: 'You know what? We're taking the place next door'... Now the waterfront is on fire. And the Flanders area, which people thought twice about, is very hot."

Ms. Liebman on Hamptons expectations: "I think our market share will continue to grow, and I hope we expand our number of listings. I think this is a great opportunity for us to add some new brokers... I'm looking forward to getting bigger and better." - Max Abelson

NRT Acquires Prominent East End Firm

Observer Staff — Thu, 10 Aug 2006 08:53:36 -0400

Today, NRT Incorporated, parent company of the Corcoran Group, purchased Allan M. Schneider Associates, Inc, as reported in the Real Deal.

Founded by the late Allan M. Schneider, the firm has been a staple of the Hamptons luxury real estate market for decades. And Mr. Schneider featured prominently in Philistines At The Hedgerow, Steven Gaines' gossipy look at "passion and property in the Hamptons."

Now, the company's 12 offices will operate under the Corcoran Group banner.

More details to come later on. The full release is after the jump. read more »

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Corcoran Hamptons Update: 'World-Class Watering Hole'

NRT Acquires Prominent East End Firm