Above, Rebecca Blacker, left, and Arlene Reed
Rebecca Blacker grew up in Manhattan, two short blocks from where she currently resides, the granddaughter of a Holocaust survivor who saved his pennies to invest in city real estate and ultimately established a management firm. It was inevitable that Rebecca would join the family business after graduating from university.
But the brokerage side of the business called to her, and in 2019, after 10 years as a leasing manager, she set up her desk at Warburg Real Estate on the Upper East Side of the city, just down the aisle from a busy real estate broker named Arlene Reed. With the pair operating on the same wavelength from the outset, it was just as inevitable that the two would team up as Blacker and Reed Real Estate, representing clients in Manhattan’s toniest zip codes.
Like Blacker, Reed grew up in New York. With advanced degrees in nursing and fashion design, she worked for a while in both professions. But a serious illness gave her pause to reflect, and a deep interest in New York architecture turned her attention to real estate.
“Rebecca and I clicked instantly, and we did a few high-end deals together,” said Reed. “About the time that Coldwell Banker acquired Warburg two years ago, we decided that pooling our knowledge and connections would increase our value to our high-end clients.”
The three-woman team, which today includes Monisha Rana, a native New Yorker with global connections, is on track to close more than $32 million in sales volume in 2023.
Barbara Pronin: Rebecca, what’s the specific market you serve?
Rebecca Blacker: Our typical client is looking for a luxury home in one of New York City’s most prestigious neighborhoods, like the Upper East Side, Midtown and Downtown Manhattan. About 90% of our business comes from referrals, because whether they want a condo in Soho, a co-op, a historic brownstone in Gramercy Park or a Central Park penthouse with panoramic city views, our clients know that our connections and our attention to detail will help them meet their goals.
BP: Blacker and Reed is a relatively new team. What is it that distinguishes you in the very competitive Manhattan market?
Arlene Reed: Rebecca and I came into this team with solid backgrounds as high-producing agents with an insider’s knowledge of the market we serve. We brought in Monisha post-pandemic, primarily for her social media and marketing skills. But her experience and language skills, having lived abroad in London and Hong Kong, give her a great edge with relocating clients and investors. She understands the level of detail it takes to find the next place to call home, and together we are a very dynamic trio.
RB: It’s worth mentioning that while we’ve worked together for a relatively short time, we have more than 40 years of combined experience and connections, and a track record of more than $1 billion in combined sales. That means a lot to our elite clients, who expect expertise as well as first-class service.
BP: Do you each have different responsibilities, or how do you operate as a team?
AR: We meet formally once a week, but we talk every day. We mostly work with our own clients, but since we are all driven to provide incomparable service, every one of our clients knows they have the power of three behind them.
BP: Are you open to expansion?
RB: Yes, both in terms of size and area. Arlene and I would love to mentor a dedicated new team member—someone who is as motivated, energetic and focused as we are—and our five-year plan includes expanding our business into the Hamptons.
BP: What is the current market like?
AR: Inventory is tight, and buyers are not as motivated at current interest rates. Also, with an average selling price of $5 million, the cost for renovation is quite high.
RB: Properties under $2 million are moving, and we are doing some leasing and property management. But the market will improve, as it always does, and we are looking forward to growing with it.
AR: The fact is, every day is still fun for us, and we are always learning something new.
BP: Do you get involved with charitable giving?
AR: We do. To the New York Common Pantry and the New York Chapter of City of Hope, primarily.
RB: We like to do more than just donate funds. We are currently planning a cocktail event fund-raiser that should be lots of fun.
BP: What’s your best advice for teams just starting out?
AR: It isn’t easy in this competitive market. Be prepared for hard work and dedicated effort.
RB: Have a detailed business plan—and be sure you are all compatible. I can’t stress that enough. It’s important to be friends as well as colleagues.
Blacker and Reed Team Listing
45 East 30th Street, Apt PHB
New York, New York
Price: $7,995,000
This 4,412-square-foot quadruplex penthouse in Midtown South comes with almost 2,000 square feet of outdoor space spread across seven terraces. The ground level comprises the open kitchen, dining room and living room lined by two terraces, and the fourth level is just one big outdoor space. Three bedrooms and three bathrooms are spread across two more floors.
To view the full listing, click here. For more information visit https://blackerandreed.com/.
