Corcoran Expands Tri-State Presence With New Jersey Franchise
The Corcoran Group is stepping up its presence in the tri-state area with a new franchise in the fold.
Friedberg Properties & Associates, an independent firm operating in New Jersey’s Bergen County, will operate as Corcoran Infinity Properties, the brokerage announced. The franchise counts more than 100 agents in its ranks.
The new brokerage is owned and led by David Arabia, who recently acquired Friedberg after nearly 30 years of operation. Arabia previously worked for two decades as an independent agent, earning several accolades in the state.
Bergen County is New Jersey’s most populous county with cities like Hackensack, Teaneck and Fort Lee.
The county is also next door to New York City, where Corcoran reigns atop residential brokerages across brooughs. The firm finished first in The Real Deal’s 2022 ranking of Manhattan firms with nearly $6.7 billion in sales, a gain from $6.5 billion in 2021, and finished second to Compass in Brooklyn.
Corcoran’s franchise on the opposite coast sparked trouble for the brokerage in recent months. The company in December ended its relationship with Corcoran Global Living’s Southern California division following legal dispute and allegations of fraud and unpaid commissions; the 2,600-agent franchise was Corcoran’s largest.
The Corcoran Group was reported in November to be shopping the franchise less than three years after its launch. Rumors the company was going out of business came after an expansion spree by Corcoran Global Living that grew its headcount to more than 1,000 brokers from 450 at the time of its inception.
