**Today, Howard Lorber stepped down from Douglas Elliman. It marks the end of an era.**
You can read the full article in *The Real Deal* [HERE].
But I want to share my thoughts.
There’s a lot of speculation about what happened. Elliman is calling it a retirement, but his departure was immediate. Nobody retires suddenly—especially not two weeks before a presidential election and just two months before the end of the year—without an established successor ready to take the reins.
Howard was the heart and soul of the company. It was his rich and powerful connections that brought in high-end listings, allowing him to attract top talent. His control over the funding for developments made their development division one of the biggest in New York City. For over a decade, Howard was the face, heart, and soul of Douglas Elliman.
Howard was a polarizing figure. Many resented him, feeling he ousted the entrepreneur, Dottie Herman, who built the firm from the ground up. Others accused him of giving preferential treatment to young female agents, often linked to his personal relationships. He was feared by some managers yet idolized by others who wanted to be him.
I believe there are one of two reasons why Howard left in such a sudden manner. The first possibility is that an article is about to surface, potentially connecting him closer to the disgraced Alexander Brothers and their numerous rape allegations. The second, and what I personally think, is that Douglas Elliman is gearing up to be broken apart and sold. They may need to remove this polarizing figure, who comes with a considerable amount of baggage and hidden controversies. We might hear next year that Douglas Elliman is either on the market or at least involved in negotiations regarding the sale of some smaller divisions. Robert Rifkin is likely salivating right now, trying to decide which offices he can make profitable as he sifts through the remnants of what was once the most respected firm in New York City.
Regardless, Howard built Douglas Elliman as a firm that thrived under his leadership. It was a firm that would live and die with him. He was the only figurehead capable of steering the company; everyone else was merely a service provider to him. It will be interesting to see what happens next—similar to the storyline of "Succession," after Roy died.
