NYC Is Finally Getting its Own Regional MLS

The Multiple Listing Service of Long Island (MLSLI) and Hudson Gateway Multiple Listing Service have just merged, creating a regional multiple listing service (MLS) called New York MLS.

The new service will consist of about 40,000 real estate professionals in New York City boroughs Queens, Brooklyn, Manhattan and the Bronx, along with Westchester, Nassau, Suffolk, Putnam, Rockland, Sullivan and Orange counties.

Discussions of a consolidation began back in June 2017, and the service is expected to be fully operational some time next year.

“With the alliance of two successful MLSs, members gain entry to a vast selection of integrated technology tools and resources, which will better serve their buyers and sellers,” said Jim Speer, senior vice president of operations for MLSLI, who will be the CEO of the new MLS.

The new platform aims to be a one-stop-shop for all regional real estate needs. Its surprising that despite the volume of the NYC market, its residential firms have never shared a central listing service.

Henri Bendel To Close It’s Doors After 123 Years Following Holiday Season

L Brands, the parent company which owns retail icon Henri Bendel, has announced that they will be closing all 23 locations after 123 years. The closings will take place following the 2019 holiday shopping season, giving nostalgic shoppers a last chance to make their purchases from the iconic retailer. The Henri Bendel closing will leave the 86,000 SF 712 Fifth Avenue, which is owned by the Paramount Group, vacant. The lease carries $6.5 million in annual rent commitments and runs through February 28, 2021. L Brands has decided to focus on their larger holdings which include Victoria’s Secret and Bath & Body Works. They initially purchased the retailer in 1985 before expanding to 11 states.