Thomas Gallagher and Michael Litzner, leaders in New York real estate brokerage and owners of Century 21 American Homes, announced a strategic acquisition on Long Island and Queens, New York.
The two co-broker owners will acquire the assets of Coldwell Banker Realty on Long Island, a leading residential brokerage operation in New York, owned and operated by Realogy Brokerage Group. Litzner and Gallagher will combine the newly acquired brokerage operations with the brokerage operations of its East Meadow-based company, Century 21 American Homes.
The combined operation, which accounted for nearly $2.7 billion in sales volume and more than 5,000 closed transaction sides in 2020, intends to do business under a newly launched banner of Coldwell Banker American Homes, as the newest member of the Coldwell Banker® global franchise network.
Together, they intend to operate on Long Island and Queens, New York boasting more than 1,350 affiliated independent sales professionals with 23 offices. The company will serve Queens, Nassau and Suffolk counties. The combined organizations will be the second leading residential real estate company in sales volume and units sold in the region.
Co-Broker Owners Gallagher and Litzner will remain with the newly launched company in leadership roles.
Coldwell Banker Realty’s Long Island operations accounted for more than $1.7 billion in closed sales volume and closed 3,255 transaction sides in 2020. At the time of the acquisition, the Coldwell Banker Realty Long Island operation will have 13 offices and more than 715 affiliated independent sales associates.
In 2020, Century 21 American Homes closed 1,885 transaction sides worth more than $947 million in total sales volume. The company has 10 offices and more than 650 affiliated independent sales professionals. As a long-time leader within the CENTURY 21® network, the firm is proud to continue to serve Brooklyn, New York under the banner of Century 21 American Homes.