Warburg Realty has acquired its first real estate company — the residential brokerage Rubicon Property.
The deal includes Rubicon’s storefront at 451 Columbus Avenue, which will become Warburg’s fourth outpost in the city. Rubicon will be renamed and rebranded as a part of Warburg, which employs about 130 agents, Crain’s reported.
Founded in 2010, Rubicon has about 12 full-time and part-time brokers. As a “social entrepreneurial” real estate firm, Rubicon donates a portion of its revenue to nonprofits. So far, the brokerage has raised more than $30,000 for charity:water, which helps bring clean drinking water to people in developing nations.
“What attracted us to Rubicon was its forward thinking approach to real estate and strong focus on technology, as well as a thorough knowledge of the Upper West Side market,” Frederick Warburg Peters, president of Warburg, said in a statement.
The financial terms of the deal were not disclosed.
“I look forward to bringing our core values of philanthropy and social entrepreneurship to Warburg,” Jason Haber, co-founder of Rubicon, said in a statement.