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Sotheby's International Realty, Inc. Acquires John T. Henningsen, Inc. Real Estate in Westchester County, N.Y.
Prominent Luxury Real Estate Brokerage Expands Its Presence with Prestigious Local Firm in Rye, N.Y.
RYE, N.Y. - June 14, 2007
Sotheby's International Realty, Inc., a leading residential real estate brokerage firm representing exceptional properties in some of the world's most sought-after markets, today announced it has acquired the assets of John T. Henningsen, Inc. Real Estate based in Rye, N.Y. The John T. Henningsen office, set on a prime Purchase Street location, will now operate as Sotheby's International Realty, Inc., a subsidiary of NRT Incorporated, the largest residential real estate brokerage company in the United States. The office supplements Sotheby's International Realty's existing Rye presence on Purdy Avenue. During the last 12 months, the two Rye operations were responsible for a combined $424 million in closed sales volume.
Co-owners John and Joan Henningsen will both assume roles as sales associates for Sotheby's International Realty, Inc., and Ellie Johnson, vice president for Sotheby's International Realty, Inc. and manager of the company's existing Rye operations and uptown Manhattan office, will also lead the new Rye-based office.
"John T. Henningsen is a leading boutique real estate firm in Rye that is culturally compatible with Sotheby's International Realty and has proven itself within the local high-end market," said Kathy Korte, president and chief executive officer of Sotheby's International Realty, Inc. "Given John T. Henningsen's commitment to superior service and the local community, it is clear that our two firms are strategically aligned."
John T. Henningsen, Inc. was founded in 1984 and achieved an average sales price of $2 million during the past 12 months.
"Sotheby's International Realty is the only firm with which we considered entrusting the future leadership of our company," said Joan Henningsen. "John and I have dedicated our lives to our business, and this is the best and most natural evolution to ensure that our sales associates continue to expand their opportunities and prosper for years to come. We're very excited to join Sotheby's International Realty's legacy of transacting real estate with the highest level of service and sophistication."
About Sotheby's International Realty:
Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house and represents fine properties at a range of price points. Today, Sotheby's International Realty, Inc. operates brokerage offices in key metropolitan and resort markets, including London; Manhattan; the Hamptons; Westchester County, Greenwich, Conn.; Litchfield County, Conn.; Cape Cod; Palm Beach, Fla.; Southern California; San Francisco; Sonoma; Monterey Peninsula; Sun Valley, Idaho; Santa Fe, New Mexico and Jackson Hole, Wyo.
Sotheby's International Realty, Inc. (www.sothebyshomes.com) is part of NRT Incorporated, the nation's largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy's company-owned real estate brokerage offices.
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