CBHK website

the website does not exist because the firm has been shut down. There is no more Coldwell Banker in Manhattan.

http://therealdeal.com/newyork/articles/coldwell-banker-hunt-kennedy-in-new-york-to-close-william-morris-hunt-iii-and-joanne-kennedy-nrt-realogy-corporation

question for some of you smart guys
disclaimer: I know nothing...Why does a simple sales business need long term debt? and why would any provide it. seems the only reasonable way to fund this type of organization would be through equity.

Is there an organized plan for their current listings - one of their sister companies going to assume them all or is each development going to have to find a new broker on their own?

"Why does a simple sales business need long term debt?" Office improvements, shower curtains, gilded commodes, the usual stuff.

They overexpanded - kept an architect friend of mine busy designing new fancy offices, spent money before it came in.

They were'nt always Coldwell Banker. I remember when they were just one office Hunt-Kennedy on the West side over a pizza place. I don't know what franchise fees Coldwell Banker charges, but that's probably where some of the debt is.

I believe that firms are actually worth (relatively) less than they used to be when there was nothing resembling an MLS in Manhattan and almost everything was "open listings". You had much higher barriers to entry for new firms to get access to apartments. now, anyone who opens an office and joins REBNY has pretty immediate access to just about the same listings as everyone else.

One of my expert witness gigs was in NY Southern District Bankruptcy Court over a well known name firm's bankruptcy.