The office will be the 18th for the Los Angeles-based brand and will operate in Huntington, about an hour outside of Manhattan.
Los Angeles Luxury Realtor The agency announced Monday that it had added a new franchise on New York’s North Shore on Long Island.
The new franchise will be based in Huntington, a city of just over 200,000 people about an hour’s drive east of Manhattan. Michael Smith and Donald Mastroianni, both of whom were previously top executives in the SafeGuard Group, will lead the new franchise.
In a statement, agency founder and CEO Mauricio Umansky said his company is “excited” to partner with Smith and Mastroianni, “two of the most respected and accomplished professionals in the industry.”
“Enhancing our presence on the east coast was a key focus of our expansion efforts as we opened new franchise offices both domestically and internationally,” added Umansky.
The new office is the agency’s 18th franchise. As recently as this year, the company opened additional franchise offices in Ontario, Canada, New Canaan, Connecticut, and Studio City, California. The company has also recruited a handful of high-profile employees, including Jim Ramsay, who has been named executive vice president of franchise sales for the agency by Engel & Völkers Americas.
In the statement, Smith said that he and Mastroianni “have long admired The Agency brand and we are incredibly proud and excited to bring their fresh and forward-thinking approach to luxury real estate to the Long Island area.”
“The agent’s unique culture, unmatched resources and excellent marketing ensure that our clients are in the best possible hands when buying or selling their home,” he added.
Smith most recently served as President and CEO of Safeguard Group, an insurance broker and risk management company, and Safeguard subsidiaries focused on real estate brokerage and property management. According to the agency, he has monitored more than 400 real estate transactions since 2017.
Prior to working in the real estate industry, Smith was a commodities trader.
Mastroianni previously served as the Safeguard Group’s Chief Financial and Operations Officer. The statement indicates that his role at The Agency will bring him “a deep understanding of the local market”.
In the statement, Ramsay also said, “We can’t think of a more perfect time to launch The Agency brand in the New York area.”
“The excitement is palpable as the Northeast markets seek the unprecedented offerings and resources the agency has to offer agents,” added Ramsay. “We look forward to expanding our reach across the region as we continue to open new franchises this year.”
Email Jim Dalrymple II