Richard Selig and Peter Sabesan of CBC Alliance
Commercial firm Coldwell Banker Commercial Alliance has acquired Midtown-based brokerage Tarter Stats O’Toole. CBC Alliance purchases existing firms with the goal of building on a local brokerage infrastructure, as The Real Deal has reported.
CBC, which has 35 employees, is looking to relocate from 1140 Sixth Avenue to a larger office with an undisclosed location in June, to accommodate their new brokers.
“They’ve historically been growing every year and have a desire to take the business to the next level,” Obie Walli, CBC Alliance’s chief executive, told the New York Observer.
The terms of the deal were not disclosed.
Tarter Stats O’Toole specializes in landlord representation and handles the assets of Lincoln Property Group, Renaissance Properties and Hartz Mountain Industries, among others, the Observer said. The brokerage was tapped in July to exclusively handle leasing at 419 Lafayette Street, an eight-story Noho commercial building near Astor Place, as previously reported. [NYO] — Mark Maurer