Howard Lorber's retirement marks the end of a significant era for Douglas Elliman, as his leadership established the firm as a leader in luxury real estate.
Michael Liebowitz believes that Douglas Elliman is poised for future success, with a strong balance sheet, a robust project pipeline, and a seasoned team of agents.
Despite Lorber's accomplishments, his tenure faced scrutiny amid accusations of financial mismanagement and the troubling conduct of former agents under his leadership.
The decline in Douglas Elliman’s market value, from $900 million to $130 million, underscores the challenges faced during Lorber’s tenure, leading to shareholder dissatisfaction.
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