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June 25th, 2004, 01:03 PM
Merger Mania Continues: Halstead Buys in Brooklyn

Halstead President Diane Ramirez

June 25, 2004

Through its parent company Terra Holdings, Halstead Property has acquired ownership of William S. Ross Real Estate, a 25-agent firm with offices in Cobble Hill and Brooklyn Heights.

Diane Ramirez, president of Halstead, announced that William S. Ross Real Estate founder and president, Bill Ross, will be joining Halstead Property as Executive Director, and will head Halsteadís Brooklyn offices.

"In todayís market, the synergy between Manhattan and Brooklyn is so acute," said Ramirez. "Weíre delighted to have a long-standing leader like Bill Ross represent Halstead in the many unique Brooklyn communities."

Ross has sold real estate for twenty-two years and opened his Brooklyn Heights office nine years ago. In 1997, the company opened its second office in Cobble Hill. The company handles sales and rentals in both the residential and commercial markets. They also work closely with developers.

"We are excited about merging their technology and resources with our local expertise," said Ross.

Copyright 2003-2004 The Real Deal.

June 29th, 2004, 10:24 AM
Halstead in Brooklyn: Expansion Ahead

June 28, 2004

Dottie Herman

On Friday, Halstead announced its expansion to Brooklyn, buying William S. Ross Real Estate, a 25-agent firm with offices in Cobble Hill and Brooklyn Heights. Bill Ross, who will remain on as head of Halsteadís Brooklyn offices, said the firm expects to open several new locations.

"Halstead fully understands that Brooklyn is a borough of distinct neighborhoods," said Ross, a Brooklyn native who started his company nine years ago. "If we are going to service Brooklyn like it deserves to serviced, we have to deliver service in each neighborhood."

Ross said the firm is planning to open offices in Park Slope, Williamsburg and Fort Greene "sooner rather than later." Bay Ridge is also a possibility, he said.

"Check back in a year and we can talk about the next round of offices," he said.

Ross said the deal with Halstead had been in the works for more than a year. "We knew it was inevitable that we would probably do a deal with a Manhattan firm," he said. "In the end it came together very quickly, and we were very anxious to go with Halstead."

The Manhattan firmís resources will help bring a greater level of technology to Brooklyn, Ross said.

"Too often now, youíre not able to walk into an office in Bay Ridge, and see a property in Brooklyn Heights," he said. "We want to help people to be able to look outside their neighborhoods, and technology will help that."

Ross said he didnít expect any "seminal changes immediately" in how the company handles listings, though he said, "I think soon it will be closer to the Manhattan model."

In Manhattan, around 90 percent of properties are sold through exclusive listings, where a seller signs a contract with a broker to "exclusively" represent a property. But in Brooklyn there is a mix of open listings and exclusive listings. Ross said his company currently has around 50 percent exclusive listings and 50 percent open listings.

Ross also said the company plans to continue its commercial brokerage work in Brooklyn, and pursue its new residential development work, where it often serves as the liaison between developers and Brooklyn communities, "even more strongly than before."

Copyright 2003-2004 The Real Deal.

June 29th, 2004, 10:25 AM
Brooklyn is feeling the heat righ now. ouch! 8)