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Douglas Elliman Reports $14M Profit, 65% Revenue Surge in Q1


Though gains were made across all of Elliman’s markets, Lorber, the firm’s executive chairman and Vector’s CEO, singled out New York City’s numbers as especially robust and said he expects further growth in the months ahead.
“Commissions from our New York City business were up 34 percent during the first quarter and this trend seems to be continuing,” he said, during Vector’s first quarter earnings call. “As the city comes back to life, that’s going to, you know, keep going.”
New York City commissions increased by $24 million, while South Florida’s commissions were up 125 percent, or $46 million, Vector’s chief financial officer J. Bryant Kirkland III said during the call. He noted that Hamptons commissions were up 62 percent, or $21.5 million, and in California and Colorado commissions were up 61 percent, or $16 million. ....

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