Citi Habitats, the Corcoran Group-owned real estate services and marketing firm, has acquired the assets of David Maund Inc., also known as the Brooklyn-headquartered aptsandlofts.com. Aptsandlofts.com was founded in 2002 and has since become one of the largest real estate brokerages in Brooklyn.
The move, which was announced Wednesday, cements Citi Habitats’ presence in Brooklyn.
A recent analysis from The Real Deal revealed that Brooklyn new development “tops 41.6 million square feet — second only to Manhattan — spanning nearly 600 projects and 45,359 apartments.” What’s more, 85 percent of those plans were submitted within the last three years.
“With the strategic acquisition of aptsandlofts.com, Citi Habitats immediately expands its footprint in Brooklyn, one of New York’s most dynamic markets,” said Pamela Liebman, President and CEO of The Corcoran Group, in a press release.
Aptsandlofts.com currently has a roster of 110 agents and staff. It is also one of the city’s largest new development marketing firms, currently representing 20 new residential buildings across the boroughs. It will now to operate under the Citi Habitats name, according to the press release.
With the acquisition, Citi Habitats also gains a new Executive VP of Brooklyn and Queens new development: David Maundrell, the founder, owner and president of aptsandlofts.com.
“I am excited and proud to join one of the premier real estate brands in New York City,” said Maundrell in a press release. “Both firms have an unparalleled emphasis on customer service as well as agent training and education. Our reach now encompasses New York City’s most vibrant real estate markets, and that is a significant advantage.”
Maundrell has been a passionate voice for the outer boroughs (especially Brooklyn) for years. In a 2013 interview with BuzzBuzzHome News, he explained that Brooklyn’s population boom and the flow of more institutional money there has been key to Brooklyn’s popularity.
“I think something you’re seeing now, is how there’s been this dramatic population boom… where it’s come over the past twenty to thirty years, it’s pretty amazing,” he told BuzzBuzzHome News. “There are things going on in Bay Bridge, in Bensonhurst, this whole planned revitalization of Coney Island — it’s not just about North Brooklyn. All of Brooklyn is really exploding.”
Founded in 1994, Citi Habitats is Manhattan’s fourth largest brokerage, with over 750 affiliated agents and staff members. It offers real estate services including existing apartment rentals, townhome, condominium co-operatives and investment sales, as well as new development marketing and relocation services in Manhattan, Brooklyn and Queens.
