New York City - Engel & Völkers, one of the world's leading service companies for the brokerage of prestigious residential property, commercial real estate and yachts, has expanded its license partner system in the United States into Manhattan.

Licenses for the sale and rental of high-end residential real estate will be operational in New York City with immediate effect. The exclusive rights to operate Engel & Völkers residential shops in New York City have been sold. The first two residential property shops in the already well-known Engel & Völkers corporate design are due to open before the end of this year.

Operations will initially focus on the Upper East Side, the Financial District and Upper West Side. Additional shops are planned for SoHo, Chelsea and the Meat Packing District. "Within the first five years we aim to build up a network of around 400 brokers and agents based in Manhattan," said Rauert Peters, Managing Partner of Engel & Völkers Manhattan Realty LLC, who will be expanding operations together with Marc Flohr. Both managers are originally from Germany, the domestic market of Engel & Völkers, and have a wealth of experience and expertise between them from their many years working in the property industry there.

Founded more than 30 years ago in Hamburg, the Engel & Völkers AG is now the largest corporation in Germany specializing in the brokerage of real estate. Engel & Völkers introduced its license partner system in the mid-1990s and is now represented with almost 400 residential property shops and 42 commercial real estate offices based in 34 countries on five continents.

The "Made in Germany" service concept forms the basis for the company's sustained strong growth. With comprehensive training initiatives and programs at its in-house property academy the company ensures that the Group's professionals of more than 3,400 agents, brokers and employees all uphold the principles and values of this system.

The global network of Engel & Völkers brings particularly attractive benefits for clients and license partners alike. The international presence enables clients to view property portfolios in desirable yet distant destinations from their own home. At the same time, homeowners wishing to sell their property can access a pool of potential buyers across the globe.

Engel & Völkers first opened a head office in New York City in 2007, which forms the base for managing all operations throughout the USA. Engel & Völkers already has U.S. License Partners operating in California, New York, New England and Florida. The expansion into the Manhattan now enables clients to capitalize on Engel & Völkers' service expertise and comprehensive market knowledge when investing in this highly attractive residential property market.

For more information contact Rauert Peters/Marc Flohr, Engel & Völkers Manhattan Realty LLC, 420 Lexington Avenue, Suite 2300, New York, NY 10017 USA, 212-584-1177
Fax 646-839-0208, rauert.peters@engelvoelkers.com or marc.flohr@engelvoelkers.com.