Douglas Elliman Acquires The Nassimi Group

Douglas Elliman acquired The Nassimi Group, a Manhattan-based brokerage, investment and development company.

The 10-member team, led by Richard Nassimi, will join the firm at its flagship office on Madison Avenue. While at Douglas Elliman, Nassimi’s team plans to tackle luxury condo sales, land developments and commercial deals.

Nassimi scored over $80 million in sales volume last year, including deals for four units at the the Residences at the W New York Downtown at 123 Washington Street for $4.6 million and a penthouse in the Park Imperial at 230 West 56th Street for $5.2 million.

The team will bring with them $30 million in exclusive residential and commercial listings they have signed so far in 2023.

Nassimi credits his move, in part, to Douglas Elliman’s partnership with the London-based firm Knight Frank, which will allow him to expand his global network and improve service to international clients. The company represents properties in New York City, Florida, Nevada, California, Europe and Asia.

Nassimi is a 16-year real estate veteran with experience in both commercial and residential deals. His top deal to date was a 20-year lease in the Meatpacking District for Hyundai Genesis in 2017. At $200 million, the lease ranked among the year’s priciest retail deals.

Nassimi was previously with Corcoran, where he represented sales at the Cipriani Club Residences at 55 Wall Street and the W Downtown. The financial district development replaced Nassimi’s team at Corcoran with the Marketing Directors in 2013.

Nassimi left Corcoran the following year to start his own firm, along with two agents from his team. He opened a new office in 2016 at the International Gem Tower, Extell Development’s building at 50 West 47th Street, with plans to expand his commercial team.