THERE are many condominium owners and residential brokers around who remember the downturn in the 1980s, when the only work for brokers seemed to be helping banks with their inventories of unsold apartments. And in the last few months, after sales had fallen off a cliff once more, a handful of weakened small firms closed or were absorbed by larger firms.
But not everyone remembers those bad times, and two young brokerage firms, one specializing in new developments in Brooklyn and the other on Manhattan rentals and resales, have merged in the last few weeks, hoping to use the real estate recession to take on their older, larger and more experienced rivals. Two of the principals are only 32.
New York City 2010
