In its first acquisition of another real estate firm, Warburg Realty purchased Rubicon Property for an undisclosed amount, the companies said late last month.
“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,” Warburg president Frederick Peters said in a statement.
Rubicon’s Jason Haber, who co-founded the firm in 2010, said he looks forward to “bringing our core values of philanthropy and social entrepreneurship to Warburg.”
Warburg began operations in 1896.
As part of the deal, Warburg, which has 125 agents throughout Manhattan, also acquired Rubicon’s storefront at 451 Columbus Avenue. The location will operate as the combined firm’s Upper West Side headquarters.
On its website, Rubicon noted that Warburg will continue Rubicon’s charitable work, which involves funding clean drinking water projects in developing nations through the New York–based nonprofit called Charity: water.