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Sotheby's International Realty, Inc. Acquires Todd Cole Realty in Kent, Conn.
Luxury Real Estate Firm Expands Local Expertise through Acquisition
KENT, Conn. - September 13, 2007
Sotheby's International Realty, Inc., a residential real estate brokerage firm representing fine properties in some of the world's most sought-after markets, today announced it has acquired the assets of Todd Cole Realty, LLC in Kent, Conn. The Todd Cole Realty office, representing country properties in picturesque Litchfield County, will now operate as Sotheby's International Realty, Inc., a subsidiary of NRT LLC, the largest residential real estate brokerage company in the United States. Located at 27 N. Main St. in Kent, the office will join Sotheby's International Realty's existing Litchfield County operations comprised of offices in Washington Depot, Salisbury and New Preston.
In the last year, the average sales price of homes in the $1 million-plus segment increased 30 percent in the greater Kent area according to the local MLS, driven by a growing interest from second-home buyers.
Todd Cole Realty was founded in 1993. Six agents, including owner Todd Cole, will now be sales associates for Sotheby's International Realty, Inc. Alan DiStasio, vice president and manager of the Sotheby's International Realty's three other offices in Litchfield County, will manage the office.
"Todd Cole is a well-known and respected real estate expert in Litchfield County, who has built his firm on the same quality standards that Sotheby's International Realty upholds," said Kathy Korte, president and chief executive officer of Sotheby's International Realty, Inc. "We are excited to be acquiring a firm that has such in-depth local expertise and ties, and that will mirror our commitment to exceptional client service."
"We are honored to be part of a real estate firm with such history and stature," said Cole. "Our agents have always been devoted to providing superior service with expertise and discretion. Offering that same level of service under the world-renowned Sotheby's International RealtyŽ brand will come naturally to them and they will benefit from the expanded regional and global referral opportunities."
About Sotheby's International Realty
Sotheby's International Realty was founded in 1976 as a real estate service for discerning clients of Sotheby's auction house and represents fine properties at a range of price points. Today, Sotheby's International Realty, Inc. operates brokerage offices in key metropolitan and resort markets, including London; Manhattan; the Hamptons; Westchester County; Greenwich, Conn.; Litchfield County, Conn.; Cape Cod; Palm Beach, Fla.; Beverly Hills; Brentwood; Santa Monica; Pasadena; Malibu; Ventura County; Santa Barbara; Santa Ynez Valley; San Francisco; Sonoma; Monterey Peninsula; Sun Valley, Idaho; Santa Fe, N.M. and Jackson Hole, Wyo.
Sotheby's International Realty, Inc. (www.sothebyshomes.com) is part of NRT LLC, the nation's largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy's company-owned real estate brokerage offices.
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