Town and Country Acquires Pospisil
Effective the first of this month, Town and Country Real Estate has acquired Pospisil Real Estate in Montauk for an undisclosed sum.
Toward the end of last year, Judi Desiderio, the C.E.O. of Town and Country, asked Marge Harvey, the owner of Pospisil, out to lunch. The two split the distance, agreeing to meet at Indian Wells Tavern in Amagansett.
Talk quickly turned to buying Ms. Harvey’s business, which she and Cari Salvadori purchased from Ed Pospisil in 1995. Ms. Salvadori died seven years ago.
“She brought the subject up and it hit me at the right time,” Ms. Harvey said. “We have the same business ethics. She’s an East End company, not a New York-based company, and that appealed to me.”
The final selling point was that Ms. Desiderio agreed to take all 10 of Pospisil’s real estate agents — bringing the current Town and Country employee tally to 162.
Bound by confidentiality agreements, neither would reveal the final selling price.
Located on the Plaza in Montauk, the current Pospisil offices will soon be renovated, with the Town and Country office moving into the longtime Pospisil location next month.
On Friday, Ms. Harvey gathered her staff together to make the official announcement.
“I’ve been asked many times by several companies to sell and I’ve always said no,” she said. “Judi is a good fit and Town and Country is a good fit for Pospisil.”
Ms. Desiderio described it as a “match made in heaven” that will help Town and Country expand its area-specific knowledge base while also gaining the benefit of Pospisil’s “sterling reputation and longtime presence in the industry.” Pospisil employees, meanwhile, will benefit from a larger corporate infrastructure — whether through increased budgets for marketing, advertising, or social media.
Since starting Town and Country 11 years ago, Ms. Desiderio said, she goes in search of individuals who possess stellar reputations and specific knowledge of locations. For instance, in 2011, Town and Country acquired Kathleen Beckman Real Estate, which had previously operated in Montauk for 17 years.
Similarly, in a deal finalized last week, Town and Country also acquired Westhampton Beach Real Estate, bringing its current office count to eight locations spread across the North and South Forks.
Pospisil held a similar allure — with the Montauk sales and rental markets a natural fit for continued growth.
Ed Pospisil started the Montauk business in 1961, expanding for a time to East Hampton and Amagansett. Julie Pospisil, his daughter, works as an agent. For five years, Ms. Harvey worked alongside Mr. Pospisil, whom she described as a “wonderful mentor,” before taking over the business following his retirement in 1995.
“People that work and sell real estate in Montauk live in Montauk,” Ms. Harvey said of the close-knit staff. “Montauk is very special to all of us.”
Though the Pospisil name will be no longer, Ms. Harvey is proud to have run the business for more than 50 years, helping usher in its next iteration. While not officially retiring, Ms. Harvey has agreed, in the coming year, to “take it a little easier than I have been.”