Town Residential’s Steve Gold is heading to the Corcoran Group following last week’s closure of Town’s brokerage business.
Gold — a co-star on Bravo TV’s “Million Dollar Listing New York” — was one of Town’s most sought-after free agents with nearly $87 million worth of listings as of April 20, including $20.8 million worth of in-contract deals, according to On-Line Residential. In February, Gold took over sales for Circa, a 38-unit condominium at 285 West 110th Street, which had 21 units remaining to be sold.
Sources said Gold, a former model, also considered Compass and Douglas Elliman, where “MDLNY” co-star Fredrik Eklund is an agent. In hiring Gold, Corcoran appears to be waiving a policy that precludes agents from appearing on reality television.
“Having Steve and his team join Corcoran is a wonderful turn of events,” Corcoran CEO Pam Liebman said in a statement, adding that Gold would bring his seven-person team to the firm. Gold said over the past five years, Town helped him grow his business and find a niche in the luxury market. At Town, he sold more than $500 million worth of real estate.
After Town’s collapse on April 19, rival brokerages have courted more than 300 agents.
Gold’s move was first reported by Page Six.
On Wednesday, Town dropped a 25 percent referral fee for listings that it previously said it would charge agents and their new firms. Separately, Town emailed agents to assure them that “all outstanding and future commissions will be paid,” according to a copy of the email reviewed by The Real Deal. For in-contract deals, Town said it would pay agents at their current splits.
So far, two of Town’s top managers have landed at new firms. Ryan Fitzpatrick, manager of Town Flatiron, is joining Corcoran, and Dan Marrello, director of leasing, is heading to Compass next month.