In a time of real estate consolidation, it's good to see a new player in the market?even if the circumstances are a bit, uh, unusual. Michael Shvo, Douglas Elliman's top-grossing broker ($300 million in 2003 sales with a 27-person staff), has split from the company with plans to launch his own firm, the Shvo Group, Gabriel Sherman reports. But, there's a dark side to the tale: Shvo takes rumors of unethical behavior with him out the door. Rumormongers are invited to dish the dirt to email@example.com; expect more to come on this.
· Big Dealer Michael Shvo Bolts Elliman; For Start-Up [NYObserver]