Rapid Realty Explained

Rapid Realty NYC
Type:Private
Industry:Real estate
Foundation:Park Slope, Brooklyn 2009
Founder:Anthony Lolli
Location City:New York City
Locations:65 (December 2013)

Rapid Realty NYC was a rental-based real estate brokerage in New York City. Anthony Lolli, the company's founder and CEO, started the company in 1998.[1] The company was based in Brooklyn.[2], Rapid Realty had 65 offices.[3] [4]

Rapid Realty NYC was the first rental brokerage in New York to utilize a business franchise model. After many legal battles and fines issued by the state of New York, Rapid Realty is no longer in operation and Anthony Lolli has sold the company to get out from under the guise of Rapid Realty.[5] [6]

History

Rapid Realty NYC was founded as a real estate agency in 1998 by Anthony Lolli,[7] when he opened the first Rapid Realty in Park Slope, Brooklyn.[6] The company's first franchise opened in Bay Ridge, Brooklyn in 2009. The company has 65 locations with an office in Boston.[8]

In 2013, it was reported that Rapid Realty would give a pay increase to its brokers that get a tattoo of the company's logo.[9] [10] [11] [12] [13]

Also in 2013, Leopard Films began producing a reality television show that focuses on the brokerage.[14]

In 2018, Lolli sold Rapid Realty to Yves Jean-Baptiste. In 2023, Jean-Baptiste filed a lawsuit in New York State Supreme Court against Lolli and other past executives, claiming company leadership unlawfully sold him a franchise and withheld crucial financial and legal information.[15]

Recognition

In 2012, Rapid Realty was named one of the city's best firms to work for by real estate newspaper, The Real Deal.[3] The company was recognized with Inc. Magazine's 2012 Inc 5000 award.[16] In 2013, it was awarded Franchisee Satisfaction Award by the Franchise Business Review.[3]

Notes and References

  1. News: $100M penthouse rising near United Nations . Jennifer Gould Keil . October 10, 2013 . New York Post.
  2. News: "Hybrid" home-seekers on the hunt . Hayley Kaplan . June 1, 2013 . The Real Deal.
  3. News: Adams names Brooklyn real estate exec as adviser. Raanan Geberer. Brooklyn Daily Eagle. December 23, 2013. April 26, 2014.
  4. News: Talk about rapid . Melisa Stumpf . February 6, 2013 . Home Reporter .
  5. News: Real Estate Entrepreneur Is First to Win Golden Bridge Award . Helaina Hovitz . October 8, 2013 . Commercial Observer.
  6. News: Rags-to-riches rise for Rapid Realty founder . November 29, 2011 . Staff . Real Estate Weekly .
  7. Web site: Golden Bridge Awards' 2013 Entrepreneur of the Year Shares Secrets to Success. Nicole Fallon. Business News Daily. November 19, 2013. April 26, 2014.
  8. Web site: Rapid Realty's Anthony Lolli named adviser to Brooklyn borough president. inman news. December 23, 2013. April 26, 2014.
  9. News: NYC Realtor Offers Employees Pay Raise For Getting Tattoo Of Company Logo . Staff . April 13, 2013 . CBS New York .
  10. News: 37 Rapid Realty agents get tattoos with firm logo . Lucy Cohen Blatter . May 1, 2013 . The Real Deal .
  11. News: Realty Firm Offers Raises for Company Tattoo . Susanna Kim . May 1, 2013 . ABC News .
  12. Employees Get Tattoo of Company Logo For Pay Raise . . Quan . Kristene . 2 May 2013.
  13. News: Durisin . Megan . Brooklyn Realtor Is Giving A 15% Raise To Workers Who Get A Tattoo Of Their Logo . . May 3, 2013.
  14. News: "Renting" New York: Rapid Realty tries its hand at reality television . Hayley Kaplan . January 28, 2013 . The Real Deal .
  15. News: Wall . Sheridan . Lawsuit Accuses Rapid Realty Executives Of Fraud . . 18 April 2023 . en.
  16. Web site: Rapid Realty experiences huge growth in 2013. Julia Lewis. Brooklyn Daily. June 10, 2013. April 26, 2014.

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