DID COMPASS JUST ACQUIRE CORCORAN AND SOTHEBY'S?

Yes, indeed! It is big news that is shaking up the real estate world nationally and locally right here in NYC: Compass has announced plans to acquire Anywhere Real Estate, creating one of the largest residential brokerages in the country. If approved, this all-stock transaction would bring powerhouse brands like Corcoran, Sotheby’s, Coldwell Banker, and others under the same roof as Compass. Together, the combined company would represent more than 340,000 real estate agents nationwide and an estimated 25% market share of U.S. residential real estate sales.

For most consumers, this may not seem especially significant, but for us New Yorkers who have long been familiar with the Corcoran and Sotheby’s brands, it’s major news that two such historic giants will now be under the Compass umbrella. Beyond the big names, this move could bring significant benefits to buyers, sellers, and investors — especially here in New York.

The scale alone will unlock tremendous innovation. At Compass, we have always prided ourselves on our technology platform, agent support, and streamlined client experience. Anywhere, meanwhile, brings decades of infrastructure — title, escrow, relocation services, and franchised networks that reach every corner of the country. Together, the combined company will have both the size and resources to invest even more heavily in tools that make transactions faster, more transparent, and more client-friendly.

Rather than collapsing under a single name, the current intent is for the brands we all know to continue to operate independently. Whether this changes in the future remains to be seen. (For example, Compass acquired Stribling, a well-known historic brand in the luxury sector, which has since been fully folded into Compass.) In the meantime, the individual NYC brands will carry on with their names and strengths, while Compass continues as the innovation-driven disruptor it has always been. The advantage for clients is the best of both worlds: the distinctiveness of each brand plus the resources of a much larger parent company.

By joining forces, Compass and Anywhere will create a company resilient enough to weather downturns and agile enough to seize opportunities in the next upcycle.

Many in the industry (primarily those not currently affiliated with Compass) are lamenting the merger, with some calling it a monopoly that gives consumers fewer brand choices. I don’t necessarily agree. Owning competing brands under one roof is a proven strategy in other industries.

Volkswagen Group owns Audi, Porsche, Bentley, and Lamborghini. Each brand appeals to a different buyer, but they share platforms, engineering, and supply chains. Kering manages Gucci, Saint Laurent, Bottega Veneta, and Balenciaga — wildly different aesthetics, all under one corporate parent. LVMH houses Louis Vuitton, Dior, Givenchy, and Dom Pérignon — distinct names, distinct markets, shared global reach. The lesson? Internal competition can actually be healthy when the parent company provides shared resources, financial stability, and a long-term vision.

I moved to Compass almost seven years ago after 11 years at Corcoran. I saw that the industry was changing and that Compass was leading that change. My gut told me that “Compass was the place to be,” but I never anticipated the extraordinary growth I’ve witnessed over the last seven years. That growth includes constantly improving technology and services for both agents and consumers, as well as our leadership taking on — and winning against — policies that are not fair to agents or clients.

For buyers and sellers in NYC, the merger will provide tremendous benefits: more inventory readily accessible, stronger market reach, more data, and better tools all around. If the acquisition is successful, this merger could reshape the industry in ways that make the buying and selling process smoother, more efficient, and more consumer-friendly.

Real estate is constantly evolving, and big moves like this one remind us that our industry is entering a new era of consolidation, scale, and innovation. I am beyond grateful that I made the choice seven years ago to join the industry leader. My gut was right. I’ve consistently said for the last seven years that no one should bet against Compass — and for the last 30 years, that no one should bet against New York. So far, so good!

Have a fantastic fall weekend!

Best, Michael

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Local News

This charming Soho book café is officially

one of the most beautiful in the world

Soho has no shortage of chic hangouts, but now one of its most stylish book cafés has gone global. Bibliotheque, the literary-minded café and wine bar on Mercer Street, has just been named one of the 10 most beautiful book cafés in the world for 2025, according to the 1000 Libraries Awards’ annual list.

That’s no small feat: More than 200,000 votes poured in from readers, café hounds and urban planners worldwide, narrowing the field from 16 nominees to a final top 10. The Soho spot ultimately landed in ninth place, rubbing shoulders with heavyweights like Istanbul’s sprawling Minoa Pera and Mexico City’s lush Cafebrería El Péndulo.

🍷 It’s chic, it’s bookish, it’s global: Soho’s Bibliotheque is officially one of the world’s most beautiful cafés.

✨ Uncover the full magic in the link below!

More Info: CLICK HERE

New York’s brand new Time Out Market is officially open

Earlier this month, we announced the official opening date of Time Out Market New York, Union Square. And now, the time has come: NYC’s brand-new Time Out Market is officially open, ready to feed hungry New Yorkers with a stacked line-up of culinary superstars.

Located in Union Square, Manhattan, the new market will be a smaller, more intimate venue, bringing the best of the neighbourhood together under one roof.

Opening hours

The market will be open every day from 8am to 10pm.

Address

You can find the new Time Out Market New York, Union Square on the ground floor of Zero Irving (124 E. 14th Street, New York, NY 10003).

🍔 Patty Palace, Fornino Pizza, Magnolia Bakery, and more—

✨ Discover the star-studded lineup at NYC’s newest food hall!

More Info: CLICK HERE

Global Citizen Festival Returns To Central

Park This Weekend — Here’s Everything You

Need to Know

Global Citizen Festival is returning to Central Park this weekend—and it’s bringing major star power with it.

The 2025 Global Citizen Festival will take over Central Park’s Great Lawn on Saturday, September 27, with co-headlining performances by Shakira and Cardi B, plus sets by Tyla, Ayra Starr, Mariah the Scientist, and more.

The music festival isn’t just about chart-topping performances, though—it’s a global movement. Run by the international advocacy organization Global Citizen, the annual event aims to inspire action to end extreme poverty, tackle climate change, and support sustainable development around the world.

💚 Can New Yorkers make global change from Central Park?

✨ Discover the mission behind the festival!

More Info: CLICK HERE

Featured Listing

45 Fifth Avenue, Apt. 9D

1-Bedroom | 1-Bathroom | Co-op

Maint.: $1,192/mo.

Offered at: $799,000

OPEN HOUSE | BY APPT. ONLY

Sun, Sep 28th

11:00 AM - 12:30 PM

Residence 9D at 45 Fifth Avenue presents a rare opportunity to live along one of Manhattan’s most coveted stretches of Lower Fifth Avenue in the heart of Gold Coast Greenwich Village. With southern and eastern courtyard exposures creating natural light and serenity, this luminous home balances timeless prewar charm with stylish, modern upgrades.

A gracious foyer sets the tone, leading into a generously scaled living room perfectly proportioned for both elegant entertaining and comfortable everyday living.

The windowed kitchen, smartly removed from the entertaining space, has been thoughtfully renovated with custom cabinetry, sleek granite counters, a handsome mosaic backsplash, and a high-end appliance suite, including a modern under-counter refrigerator and freezer—an ideal setting for inspired culinary creations.

The corner bedroom is a private sanctuary, framed by four windows that welcome sun and sky from multiple exposures. With a generous closet and ample space for a home office, it blends functionality and retreat-like tranquility. The renovated bath pays homage to the building’s period character while offering contemporary comfort, finished with classic subway tile, marble floors, and top-tier Lefroy Brooks fixtures and fittings.

Built in 1925, 45 Fifth Avenue is a distinguished prewar cooperative known for its impeccable upkeep, strong financials, and low maintenance. Residents enjoy the convenience of a ButterflyMX virtual doorman system, a common laundry room, and the attentive service of a live-in superintendent.

The enviable location places you moments from Washington Square Park, Union Square, and a vibrant array of neighborhood destinations—chic cafés, acclaimed restaurants, stylish boutiques, and specialty grocers such as Whole Foods and Citarella. With easy access to nearly every subway line, this is downtown living at its most refined and convenient.

See listing website: CLICK HERE

More Listings

Michael J. Franco

Lic. Assoc. R.E. Broker

M: 917.817.4122

mfranco@compass.com

Office: 646-982-0353

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.