Vector Group Announces Douglas Elliman Ranking As Third-Largest Residential Real Estate Brokerage in the United States

Total Page：16

File Type：pdf, Size：1020Kb

April 6, 2018 Vector Group Announces Douglas Elliman Ranking as Third-Largest Residential Real Estate Brokerage in the United States MIAMI--(BUSINESS WIRE)-- Vector Group Ltd. (NYSE:VGR) today announced that New Valley's 70.59%-owned subsidiary, Douglas Elliman Realty, LLC, is now the third-largest residential real estate brokerage by sales volume in the United States, according to a survey conducted by Real Trends, a leading real estate information and analytics company. In 2017, Douglas Elliman achieved closed sales of $26.1 billion, representing a 6% increase from 2016. In addition, Douglas Elliman had six of the top 10 sales in New York City for 2017 and secured the number one residential sale for a second year in a row. Howard M. Lorber, President and Chief Executive Officer of Vector Group, said, "On behalf of everyone at Vector Group, we congratulate Douglas Elliman on this impressive milestone. 2017 was a year of growth and expansion for Douglas Elliman, and we look forward to further extending our reach in 2018." In 2017, Douglas Elliman expanded in California with the acquisition of Teles Properties Inc. Douglas Elliman's expansion has continued in 2018 with the acquisition of Boston-based Otis & Ahearn, Inc. The firm now boasts approximately 7,000 agents in 100 offices nationwide. Vector Group is a holding company that indirectly owns Liggett Group LLC and Vector Tobacco Inc. and directly owns New Valley LLC, which owns a controlling interest in Douglas Elliman Realty, LLC. Additional information concerning the company is available on the Company's website, www.VectorGroupLtd.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20180406005186/en/ For Vector Group Ltd.: Sard Verbinnen & Co Emily Claffey/Benjamin Spicehandler/Columbia Clancy 212-687-8080 Source: Vector Group Ltd. News Provided by Acquire Media .

Copy Link

Recommended publications

Vector Group Ltd. Annual Report 2019
Vector Group Ltd. Annual Report 2019 Form 10-K (NYSE:VGR) Published: March 1st, 2019 PDF generated by stocklight.com SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ Form 10-K _____________________________________________ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended December 31, 2018 _____________________________________________ VECTOR GROUP LTD. (Exact name of registrant as specified in its charter) _____________________________________________ Delaware 1-5759 65-0949535 (State or other jurisdiction of incorporation Commission File Number (I.R.S. Employer Identification No.) incorporation or organization) 4400 Biscayne Boulevard, Miami, Florida 33137 (Address of principal executive offices) (Zip Code) (305) 579-8000 (Registrant’s telephone number, including area code) _____________________________________________ Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which Title of each class registered Common Stock, par value $.10 per share New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. þ Yes o No Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. o Yes þ No Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
[Show full text]
Vector Group Acquires Remaining 29% Interest of Douglas Elliman Realty
Vector Group Acquires Remaining 29% Interest of Douglas Elliman Realty December 31, 2018 NEW YORK--(BUSINESS WIRE)--Dec. 31, 2018-- Vector Group Ltd. (NYSE:VGR) and Douglas Elliman Realty, LLC today announced that Vector Group’s indirect wholly-owned subsidiary has acquired the remaining 29% interest it did not own of Douglas Elliman Realty, LLC from Douglas Elliman Chief Executive Officer Dorothy “Dottie” Herman. Ms. Herman will continue in her role as Chief Executive Officer of Douglas Elliman. Howard M. Lorber, President and Chief Executive Officer of Vector Group and Chairman of Douglas Elliman, said, “Dottie and I couldn’t have imagined that the venture we embarked on years ago would grow into the largest residential brokerage firm in the New York metropolitan area. Her vision for and dedication to Douglas Elliman have proven invaluable and have helped cement Douglas Elliman as one of the country’s premiere brokerages. We are excited about the next phase of Douglas Elliman’s growth, and are confident the company is well positioned for the future.” Dottie Herman said, “I couldn’t be more proud of the company that Howard and I created.” About Vector Group Vector Group is a holding company that indirectly owns Liggett Group LLC and Vector Tobacco Inc. and directly owns New Valley LLC, which indirectly owns Douglas Elliman Realty, LLC. Additional information concerning the company is available on the Company's website, www.VectorGroupLtd.com. About Douglas Elliman Real Estate Established in 1911, Douglas Elliman Real Estate is the largest brokerage in the New York Metropolitan area and the third largest residential real estate company nationwide.
[Show full text]
Vector Group Annual Report 2021
Vector Group Annual Report 2021 Form 10-K (NYSE:VGR) Published: March 1st, 2021 PDF generated by stocklight.com SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ Form 10-K _____________________________________________ ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended December 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 _____________________________________________ VECTOR GROUP LTD. (Exact name of registrant as specified in its charter) _____________________________________________ Delaware 1-5759 65-0949535 (State or other jurisdiction of incorporation Commission File Number (I.R.S. Employer Identification No.) incorporation or organization) 4400 Biscayne Boulevard Miami, Florida 33137 305-579-8000 (Address, including zip code and telephone number, including area code, of the principal executive offices) _____________________________________________ Securities registered pursuant to Section 12(b) of the Act: Title of each class: Trading Symbol(s) Name of each exchange on which registered: Common stock, par value $0.10 per share VGR New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. þ Yes o No Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. o Yes þ No Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
[Show full text]
Douglas Elliman Names Scott Durkin Chief Executive Officer
CONTACT: Stephen Larkin Samantha Feld Douglas Elliman Douglas Elliman (212) 891-7042 212-891-7735 [email protected] [email protected] FOR IMMEDIATE RELEASE Douglas Elliman Names Scott Durkin Chief Executive Officer Real Estate Veteran Charged with Leading Next Generation PropTech and Market Growth for Real Estate Giant; Dottie Herman Appointed Vice-Chair NEW YORK, NY – August 3, 2021 – Douglas Elliman, one oF the largest residential real estate brokerages in the United States, announced today that it has promoted its President and ChieF Operating OFFicer, Scott Durkin, to ChieF Executive OFFicer, eFFective immediately. Dottie Herman has been appointed Vice-Chair. “Douglas Elliman has proven to be my most rewarding proFessional experience to date,” said Mr. Durkin. “I look Forward to expanding upon the legacy oF our brand built by my Friend and mentor Dottie Herman as the market leader in luxury real estate. I also welcome the opportunity to Further advance our technology-Focused initiatives that allow our agents to work Faster and more eFFiciently on behalF oF their customers and clients.” Hand selected by Elliman Executive Chairman Howard M. Lorber and Ms. Herman, Mr. Durkin joined Douglas Elliman in 2015 as executive vice president oF acquisitions and growth. He was promoted to ChieF Operating OFFicer in October 2016 and named President in 2017. With his new title, Mr. Durkin will continue to lead the brokerage, its operations, technology initiatives, and strategic growth eFForts across the United States. During the 12 months ended June 30, 2021, Douglas Elliman closed nearly $43 billion in sales. "As President and COO oF Douglas Elliman, Scott has taken our Firm to the next level with major initiatives to strengthen our brand, our culture, our technology and most importantly, the way our agents conduct their business,” said Mr.
[Show full text]
Vector Group Ltd. Investor Presentation
Vector Group Ltd. Investor Presentation May 2015 Disclaimer This document and any related oral presentation does not constitute an offer or invitation to subscribe for, purchase or otherwise acquire any equity securities or debt securities instruments of Vector Group Ltd. (“Vector” or “the Company”) and nothing contained herein or its presentation shall form the basis of any contract or commitment whatsoever. The distribution of this document and any related oral presentation in certain jurisdictions may be restricted by law and persons into whose possession this document or any related oral presentation comes should inform themselves about, and observe, any such restriction. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction. The information contained herein does not constitute investment, legal, accounting, regulatory, taxation or other advice and the information does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and the market and for making your own independent assessment of the information. You are solely responsible for seeking independent professional advice in relation to the information and any action taken on the basis of the information. The following presentation may contain "forward-looking statements,” including any statements that may be contained in the presentation that reflect
[Show full text]
Vector Group Ltd
Vector Group Ltd. Annual Report 2018 Form 10-K (NYSE:VGR) Published: March 1st, 2018 PDF generated by stocklight.com SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________ Form 10-K _____________________________________________ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Fiscal Year Ended December 31, 2017 _____________________________________________ VECTOR GROUP LTD. (Exact name of registrant as specified in its charter) _____________________________________________ Delaware 1-5759 65-0949535 (State or other jurisdiction of incorporation Commission File Number (I.R.S. Employer Identification No.) incorporation or organization) 4400 Biscayne Boulevard, Miami, Florida 33137 (Address of principal executive offices) (Zip Code) (305) 579-8000 (Registrant’s telephone number, including area code) _____________________________________________ Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which Title of each class registered Common Stock, par value $.10 per share New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. þ Yes o No Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. o Yes þ No Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
[Show full text]
Vector Group Ltd
Vector Group Ltd. 2009 Stockholders’ Report VECTOR GROUP LTD. HOWARD M. LORBER President Chief Executive Officer April 9, 2010 Dear Fellow Stockholder, Vector Group performed well in 2009 despite an extremely challenging economic and industry environment. At Liggett Group, our conventional tobacco business, we entered the year with a carefully constructed strategic plan to continue to perform amidst tremendous uncertainty from a massive federal excise tax increase that raised cigarette prices by an average of approximately 25%. We believe our results demonstrate the validity of our approach, as Liggett significantly outperformed the market in 2009 — growing our market share while overall industry volumes declined by nearly 10%. We were also pleased that New Valley, through its ownership stake in Douglas Elliman, was able to maintain its strong position in the New York City metropolitan real estate market. We continue to take steps to deploy new strategies to position Vector Group and our subsidiaries for long-term growth, and remain confident in our business and our ability to adapt to the changing economic and regulatory environments. As we enter 2010, we are cautiously optimistic about the near-term and are ready to build on our momentum from the last year to continue to create value for our stockholders. Overall Financial Results Vector Group achieved strong results in 2009, including operating income of $143.2 million, compared to $135.3 million for 2008. Revenues also increased over the prior year to $801.5 million, compared to $565.2 million in 2008, primarily due to the previously referenced increase in federal excise tax (“FET”).
[Show full text]
Vector Group Ltd
SEC Mail Processing Section 12028435 NOV Washing0 DC 402 VECTOR GROUP LTD 2011 STOCKHOLDERS REPORT VCTDR GROUP LTD HOWARD LORBER PRESIDENT CHIEF EXECUTIVE OFFICER April 2012 Dear Fellow Stockholder Vector well in Group performed 2011 as result of strong execution of our business plan During the year we profitably grew our Liggett tobacco business and our 50%-owned Douglas Elliman real estate business performed steadily We achieved our primary goals for 2011 to continue to increase market share by focusing on our brand Pyramid cigarette and to increase profits Our tobacco business grew its market share during the year and is the Pyramid now nations sixth-largest brand We also implemented initiatives to support margin growth which resulted in increased operating income We are pleased with Vector Groups recent performance and believe we are well positioned to capitalize on this momentum in 2012 Overall Financial Results Vector 2011 increased from Groups revenues by approximately 6.6% the prior year to $1.13 billion We recorded operating income of $143.3 million in 2011 compared to $111.3 million in 2010 Adjusted operating for income 2010 excluding litigation judgments and settlement charges was $130.5 million Thus adjusted operating income increased 10% in 2011 Additionally our liquidity remains strong as cash and cash equivalents were approximately $240.9 million and we held investment securities and partnership interests with fair market value of approximately $100.5 million at December 31 2011 Further the Company continued its long-standing
[Show full text]
New Valley Ventures Invests in Proptech Company, Humming Homes
New Valley Ventures Invests in PropTech Company, Humming Homes April 15, 2021 Douglas Elliman Parent Company Vector Group’s PropTech Investment Venture Offers Agents a New Technology to Help Ease Buyers into Homeownership NEW YORK--(BUSINESS WIRE)--Apr. 15, 2021-- Vector Group Ltd. (NYSE: VGR) announced today that New Valley Ventures, its investment vehicle seeking opportunities in next-generation technologies in the property technology (PropTech) space, has made an investment in another PropTech company, Humming Homes, a New York-based tech-enabled home management service. Humming Homes, founded by Adeel Mallick, CEO, Kyle Carnes, Head of Operations and serial technology entrepreneur Kevin Ryan, Chairman of the Board, is a tech-enabled home management service on a mission to make homeownership easier and more enjoyable. Poised to become one of the world’s most trusted home operators, the company is creating a new category of end-to-end home management. It has built a tech-enabled solution for single family homeowners with a digital-first experience, offering a dedicated in-person home management team with a single point of contact, 24/7 support, and employs data and insights to avoid reactive and expensive home maintenance issues. “New Valley Ventures is dedicated to investing in new tech-enabled services that will benefit real estate agents and their clients and customers,” said Dan Sachar, Managing Director of New Valley Ventures and Vice President of Enterprise Innovation for Vector Group. “We are in the midst of a rapid demographic shift in home buying as well as unprecedented demand in second home purchases across vacation markets and primary homes in dense suburban neighborhoods.
[Show full text]
INVESTOR PRESENTATION November 2019 DISCLAIMER
INVESTOR PRESENTATION November 2019 DISCLAIMER This document and any related oral presentation does not constitute an offer or invitation to subscribe for, purchase or otherwise acquire any equity securities or debt securities instruments of Vector Group Ltd. (“Vector,” “Vector Group Ltd.” or “the Company”) and nothing contained herein or its presentation shall form the basis of any contract or commitment whatsoever. The distribution of this document and any related oral presentation in certain jurisdictions may be restricted by law and persons into whose possession this document or any related oral presentation comes should inform themselves about, and observe, any such restriction. Any failure to comply with these restrictions may constitute a violation of the laws of any such other jurisdiction. The information contained herein does not constitute investment, legal, accounting, regulatory, taxation or other advice and the information does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or particular needs. You are solely responsible for forming your own opinions and conclusions on such matters and the market and for making your own independent assessment of the information. You are solely responsible for seeking independent professional advice in relation to the information and any action taken on the basis of the information. The following presentation may contain "forward-looking statements,” including any statements that may be contained in the presentation that reflect
[Show full text]
(L&M) Partnership That Exclusively Sold Plug Chewing Tobacco
1873 J. E. Liggett and brother-in-law, George Smith Myers, formed the Liggett & Myers (L&M) partnership that exclusively sold plug chewing tobacco. 1899 No image need: line to ATC American Tobacco Company acquired L&M into the tobacco trust. 1911 The U.S. Court of Appeals issued a Dissolution Decree to ATC, which busted the trust, and created a reborn L&M Tobacco Company. LM moved the company into an old ATC Warehouse in Durham, NC. 1916 L&M reintroduced the Chesterfield brand as a blended cigarette with a foil pack. 1930‐1949 L&M’s Chesterfield brand launched an aggressive media campaign, which featured a wide spectrum of entertainment celebrities and sports stars. 1950’s The L&M Company offered Chesterfield unfiltered in two sizes, Regular (70mm) and King (85mm). In 1953 L&M introduced L&M filtered brand, “just what the doctor ordered.” 1963 Lark filter cigarettes entered the market, using a three-piece filter with charcoal granules. 1968 L&M launched Eve 100s to compete with Virginia Slims; the same year L&M changed its name to Liggett & Myers Incorporated. 1970’s In an attempt to make a safer cigarette, L&M developed a palladium catalyst cigarette known as the XA Project or Epic. The cigarette was never marketed. 1976 L&M changed its name to the Liggett Group. 1980 A British company, Grand Metropolitan PLC acquired the Liggett Group. 1988 Liggett created the generic cigarette concept and in 1988 introduced Pyramids cigarettes. By the 1990s Liggett produced more than 200 private label cigarette brands for the bargain price market segment.
[Show full text]
To Download a PDF of an Interview with Howard M. Lorber, President
NEWYORKCITY Making Companies Great An Interview with Howard M. Lorber, President and Chief Executive Offi cer, Vector Group Ltd. EDITORS’ NOTE Howard M. Lorber right people. If one is lucky enough in How important is the cultural fit in has been with Vector Group and its their career to fi nd a few great people, regard to acquiring a new company? diversifi ed interests since 1994. In then they are doing well. I have been I was very impressed by Teles’ manage- addition to his role at Vector Group, able to do that over the years. ment, and the reactions we have received after he was President, Chief Operating Are you primarily interested announcing the acquisition have been fantastic. Offi cer, and a Director of New Valley in growing your current compa- After having spoken to a few of the brokers at Corporation from November 1994 nies or fi nding new opportunities? Teles, I think their culture fi ts in perfectly with until its merger with Vector Group I am not looking for any acquisi- that of Douglas Elliman. in December 2005. Chairman tions in different lines of business at Will you touch on the transformation of the Board of Directors since this time. We have been investing in of Nathan’s and what you were able to do 1987, Chief Executive Offi cer from real estate, and I am investing with with that brand? November 1993 to December 2006 developers who I trust and admire. The key there was a great brand name – it and currently Executive Chairman Howard M.
[Show full text]