A New York City new development heavyweight is jumping from Douglas Elliman to Compass.
Dennis Mangone is joining the city’s largest brokerage by headcount after more than a decade with his previous firm, where he developed a reputation for working with developers such as the Witkoff Group’s Steve Witkoff, hotelier Ian Schrager and Alan Faena.
In his new role, Mangone is tasked with growing Compass’ new development marketing business in New York and South Florida. Mangone previously worked on projects such as Schrager’s 160 Leroy and Schrager and Witkoff’s 215 Chrystie Street.
A spokesperson for Compass said Mangone is the “perfect person” to bring the firm’s new development business to the next level, given his longstanding relationships with developers and experience on the pre-development and design side of projects.
“We see a real opportunity with new development right now,” the spokesperson said. “We really want to lean into it.”
A spokesperson for Elliman said the firm “[wishes] Dennis the best of luck.”
Mangone joined Elliman from Brown Harris Stevens in 2011, bringing with him a roster of celebrity clients including Beyonce, Ricky Martin and Mario Testino. That year, Mangone sold Studio 54 co-founder Schrager’s four-bedroom duplex at 285 Lafayette Street for $11 million.
Mangone has also worked with major fashion names such as Fabien Baron, French art director and magazine editor. Mangone sold his Soho condo for $7.5 million in 2012. Mangone also partnered with Elliman’s Raphael De Niro to sell units at the Puck Building, which included deals north of $20 million.
Outside of New York, Mangone worked on the pre-development of Schrager’s The Residences at The Miami Beach Edition and Terra and Related Groups’ Park Grove Miami.
At Compass, Mangone will focus particularly on branded residences. These developments have been gaining significant traction in New York. For example, Vlad Doronin’s Aman New York quickly sold out and logged a number of banner deals. (Doronin himself paid $135 million for the penthouse at the Midtown development last year.)
Compass’ new development division in New York was built largely by acquiring the once-boutique Manhattan firm, Stribling & Associates, in 2019. Alexa Lambert, who spent 25 years with Stribling before joining Compass as part of the merger, was the top new development broker in the city in The Real Deal’s latest ranking, thanks in part to sales at some of Miki Naftali’s Upper East Side projects.
“This marks an exciting new chapter in my journey,” Mangone wrote in a statement. “I’m eager to contribute to Compass’s continued evolution.”
Mangone’s departure is the latest in a string of agent defections from Elliman to Compass. Just last month, top agent Holly Parker and her New York-based team made the jump after more than two decades with her former firm.
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