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Corcoran, Citi Habitats to merge

After operating as “sister” companies for nearly two decades, the Corcoran Group and Citi Habitats are merging under the Corcoran banner to better compete in an increasingly cutthroat brokerage business. The deal, announced Tuesday, will boost the company’s standing as one of the biggest firms in New York City with a combined 2,420 agents responsible for $7 billion in annual sales and 22,000 rental transactions last year. “There’s no company in the city that will come close to us with the breadth of what we can do,” said Corcoran CEO Pam Liebman, citing Corcoran’s track record in sales and Citi Habitats’ large book of rental business.

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