Los Angeles-Based Brokerage Acquires NYC-Based Triplemint
Real Estate In-Depth | May 4, 2022
NEW YORK—Los Angeles-based brokerage firm The Agency has acquired Triplemint, a technology-driven residential brokerage firm, which is headquartered in Manhattan.
No financial details of the transaction were released. The Agency, in conjunction with the Triplemint deal, reported it has jointly raised $35 million in growth capital from strategic investors, further positioning the firm for strategic and sustainable global growth. The Agency stated in an announcement that it will be opening an East Coast corporate headquarters in New York City later this year. According to its website, Triplemint also has operations in Hoboken, NJ.
Triplemint was founded by David Walker and Philip Lang and focused on producing a fully-integrated tech solution to create a simpler, smarter buying and selling experience. Walker and Lang will serve as the Chief Strategic Officer and Chief Business Officer, respectively, at The Agency. They will join Mauricio Umansky, Co-Founder and CEO, President Rainy Hake Austin, Co-founder Billy Rose and other industry veterans on The Agency Leadership Team. Triplemint’s staff of 90 engineers, data scientists, developers, marketers and strategists, as well as its nearly 225 agents, will join The Agency’s existing in-house creative, public relations and tech specialists as well as more than 1,100 agents across the globe.
Triplemint expanded into the Westchester County marketplace in February 2021 when the Berkowitz Marrone Team led by Owen Berkowitz and Carol Marrone, who were the founding members of Douglas Elliman Westchester, joined Triplemint.
“The Agency is focused on continued global expansion, choosing quality over quantity every time,” said Mauricio Umansky, Co-Founder and CEO of The Agency. “Learning from others that came before us, we intend to offer the 2.0 version of luxury real estate as we seek to provide a seamless, integrated experience for our agents, helping them to become better advisors and elevating their ability to provide a high-touch and high-tech experience for clients in a way that has yet to be seen in our industry. The $35-million raise coupled with the acquisition of Triplemint positions us perfectly for this new chapter.”
“From the beginning, I have been motivated by the core belief that real estate can and should be better for agents, sellers and buyers alike. By bringing Triplemint and The Agency together, we can achieve that mission tenfold,” said Walker. “The combination of a great brand and powerful technology raises the bar in our industry and offers agents and clients more value than ever before.”
“It is entirely rare that two companies can come together and provide everything the other needs to grow and thrive,” Lang said. “The Agency and Triplemint share the same vision that a brokerage should be more than a place for an agent to hang their hat. Through this partnership, we’re providing real, tangible value and resources so that agents can better advise their clients.”
In 2021, The Agency launched 11 offices and another six in the first quarter of 2022. To date, The Agency has closed more than $41 billion in real estate transactions and has more than 50 offices in the U.S., Canada, Mexico, the Caribbean, and Europe, with more offices slated to open around the globe in the coming months.