Haistead, Feathered Nest to combine residential divisions.

The owners of Halstead Property and Feathered Nest announced today that they will combine the rental divisions of Halstead Property, LLC and Feathered Nest, a brokerage firm specializing in the renting of residential apartments in Manhattan. The combination will be known as Haistead Property, LLC. The announcement was made by David A. Burris, Kent M. Swig, Arthur W. Zeckendorf and William Lie Zeckendorf, owners of Halstead Property and Feathered Nest.

The Halstead Rental Division is among the largest rental brokerage firms in New York City with over 60 brokers within the division. Feathered Nest has more than 90 brokers serving all segments of the residential rental and sales market in Manhattan. Feathered Nest is also the leader in on-site sales on behalf of owners and developers, and was purchased by Messieurs Burrs, Swig and the two Zeckendorf brothers in March of 1998. In addition, to serving the traditional rental markets, the firm also serves corporate clients, third party relocation firms and New Yorkers who are relocating. The combination of the two companies will now include over 150 brokers and will clearly be the market leader in rental activity in Manhattan.

"By consolidating these two entities, we will be able to provide the public with better service, more listings and the most efficient rental brokerage in Manhattan," said Kent M. Swig and Arthur W. Zeckendorf. "We expect that the combined company will be the market leader in Manhattan rentals, and with this consolidation we are laying the groundwork for further expansion of the Halstead sales, rental and management operations."

Both companies will benefit by the combination, with Feathered Nest bringing its substantial number of rental listings to the new enterprise and Halstead bringing its large sales force and listing system, with Manhattan offices on the Upper East Side, Midtown, Upper West Side, SoHo, and Downtown. The Halstead Rental Division will be headquartered at 770 Lexington Avenue and will be headed by Brian Edwards, executive director of leasing at Halstead.

"We look forward to the synergies that will be created by the combination of these two leaders in the Manhattan residential rental market. The combined firm will be the most dynamic and comprehensive rental brokerage firm to serve the public in Manhattan," said David A. Burns and William Lie Zeckendorf.

"The Halstead Rental Division has always been dedicated to providing the highest level of service to the Manhattan market," said Brian Edwards. "We will now be without equal in this market, as we add the benefits of size to the high quality. of service for which we have always been recognized."

Halstead Property was founded in 1984 by Clark Halstead and a group of venture partners and was purchased by Burns, Swig, Zeckendorf, and Zeckendorf in May 2001.

"By combining the rental divisions of the two firms we are creating a company that will be unparalled in its ability to serve Manhattan renters with the most comprehensive group of quality rental listings. We are creating the most efficient and service oriented rental firm to serve the Manhattan market," said Halstead president Diane Ramirez.