The luxurious dealer is the most recent to go away embattled Official within the wake of a number of lawsuits alleging the Alexanders dedicated rape and sexual assault. Lustgarten has closed greater than $250 million in profession gross sales.
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One other high agent as soon as affiliated with the Alexander brothers’ embattled brokerage Official has left the agency, The Actual Deal reported on Monday.
Isaac Lustgarten is now hanging his license with The Corcoran Group and is predicated out of the agency’s Surfside workplace.
Lustgarten spent a few years with The Alexander Crew at Douglas Elliman serving to Oren Alexander run operations in South Florida whereas Tal Alexander largely led New York.
When the brothers left Douglas Elliman in 2022 to launch Facet-backed Official with cofounders Nicole Oge, Richard Jordan and Andrew Wachtfogel, Lustgarten got here alongside as effectively to function one of many agency’s founding brokers.
This previous summer season, information websites have been crammed with tales in regards to the Alexander brothers as they grew to become the themes of a number of lawsuits from girls who alleged that the brothers had raped and sexually assaulted them, typically in coordinated assaults, courting again to incidents that occurred round 2010. After the information broke, greater than a dozen girls got here ahead, alleging they have been additionally victims, in studies that have been detailed in The New York Occasions and The Wall Avenue Journal. Each brothers have denied the allegations.
Within the wake of the allegations, the agency’s different cofounders tried to maneuver past the scandal by distancing themselves from the Alexanders. Negotiations with the Alexanders over the route of the brokerage fell by way of, nevertheless, and Oge, Jordan and Wachtfogel in the end forfeited their possession within the agency in mid-August.
Lustgarten moved his license to Corcoran on Oct. 1, based on state information. When Oren Alexander stepped away from his function at Official over the summer season, Lustgarten took over his listings, together with a $29 million penthouse at Turnberry Ocean Membership in Sunny Isles Seashore.
The luxurious dealer’s profession gross sales exceed $250 million and embrace notable offers just like the $20 million sale of 115 Arvida Parkway and the $18.7 million sale of 14A at Miami Seashore’s Faena Home.
“We are thrilled to welcome Isaac to Corcoran,” Corcoran Group President and CEO Pamela Liebman stated in a press release. “He has deep knowledge of the discerning South Florida market, and with the strength of the Corcoran brand behind him, he will be an unstoppable force in Miami and beyond.”
Tal and Oren Alexander didn’t reply to a request for remark by press time.
Lustgarten was born in Barranquilla, Colombia, and moved to Miami as a young person, a press launch from Corcoran stated. Earlier than beginning his actual property profession, he labored in company roles at ESPN and Zumba.
“I’m excited to join The Corcoran Group, a company that most aligns with my career goals,” Lustgarten stated in a press release. “I look forward to the new opportunities that being part of Corcoran presents and the incredible potential for my professional growth.”
Jared Schwadron, additionally a long-time Alexander Crew member, left Official for Compass final month. Greater than a dozen brokers have left the agency in whole since allegations began mounting in opposition to the brothers.
Official reportedly pulled out of the lease for its Aspen workplace just some months after opening, within the wake of the cofounders’ fallout. The agency now has simply six brokers remaining in Florida, together with Sarah Miller and Worth Hassan, based on information.
Previous to the Alexanders’ lawsuits changing into public, Official had been dealing with gross sales and advertising for various luxurious condominium developments in South Florida, together with Michael Stern’s Dolce & Gabbana-branded condominium in Brickell, Shvo’s Rosewood-branded condominium on the Raleigh in Miami Seashore, and Jonathan Landau’s Indian Creek Residence & Yacht Membership in Bay Harbor Islands.
Shortly after the studies in regards to the Alexanders’ conduct went public, Stern and Shvo opted to chop ties with Official. Solely lately has Indian Creek Residences & Yacht Membership accomplished the identical — a spokesperson informed TRD on Monday that the developer has chosen a brand new gross sales group and can share extra “in the coming weeks.”
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