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Key Real Estate taps Corcoran SVP as referral agent for NYC sales portfolio

Patricia Palermo, a senior vice president at the Corcoran Group, landed a marketing assignment that gives her the potential to represent nearly 3,000 apartments. Corcoran said Key Real Estate Associates tapped Palermo to be its exclusive referral agent for sales and sublets in the 30 New York City condominiums and co-ops it manages. Combined, the buildings total 2,800 apartments worth an estimated $2.2 billion.

Key said it chose Palermo, who is based out of Corcoran’s 660 Madison Avenue offices, for the “highly professional and personable attention” she has shown in the more than 100 sales and subleases she brokered in buildings in which the management firm operates. They proposed the partnership with Palermo in particular in order to “offer [their] clients the highest standards of service.”

Sellers in Key buildings aren’t required to choose Palermo, but she is recommended to them. The set-up could provide a big boost to Palermo’s business, which she said already relies heavily on referrals.

“They asked me to come in for a meeting and when they [presented] the offer my jaw dropped,” she said of the arrangement. “I could not have had more cooperation or generosity,” Palermo said of working with Key.

To date, Palermo said she’s brokered the sale of 98 apartments in Key’s 115 East 87th Street co-op, and she’s currenetly been working most closely with the condo at 302 West 12th Street. — Adam Fusfeld