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New York’s Douglas Elliman Brokerage to Spin Off as Public Firm

  • Parent Vector Group to file paperwork with the SEC Tuesday
  • Deal would separate Elliman from Vector’s tobacco business

Douglas Elliman Real Estate, one of the New York region’s largest residential brokerages, is seeking to become a publicly traded company. 

Its parent, Vector Group, will file paperwork Tuesday with the Securities and Exchange Commission to spin off the brokerage as a standalone company, Vector Chief Executive Officer Howard M. Lorber said. If approved, the shares would trade on the New York Stock Exchange under the ticker DOUG.