Profile: Vector Group Ltd (VGR.N)
24 Dec 2014
Vector Group Ltd., incorporated on October 4, 1996, is a holding company. The Company indirectly owns Liggett Group LLC, Vector Tobacco Inc. and Zoom E-Cigs LLC and directly owns New Valley LLC, which owns a controlling interest in Douglas Elliman Realty, LLC.
Liggett is the operating successor to Liggett & Myers Tobacco Company. Liggett and Vector Tobacco manufacture and sell cigarettes in the United States. Liggett produces cigarettes in approximately 123 combinations of length, style and packaging. Liggett’s brand portfolio includes: EAGLE 20's, PYRAMID, GRAND PRIX, LIGGETT SELECT, EVE and USA. Liggett’s customers are primarily candy and tobacco distributors, the military and large grocery, drug and convenience store chains.
New Valley LLC
New Valley is engaged in the real estate business and is seeking to acquire additional real estate properties and operating companies. New Valley owns a 70.59% interest in Douglas Elliman Realty, LLC, which operates residential brokerage company in the New York City metropolitan area. New Valley also holds investment interests in various real estate projects domestically and internationally.
Douglas Elliman Realty, LLC
Douglas Elliman Realty is engaged in the real estate brokerage business through its five subsidiaries. The five brokerage companies have 70 offices with approximately 4,700 real estate agents in the metropolitan New York area as well as South Florida and Beverly Hills, California. The Long Island brokerage operation is headquartered in Huntington, New York and is the residential brokerage company on Long Island with 36 offices and approximately 1,784 real estate agents. During 2013, the Long Island brokerage operation closed approximately 7,650 transactions of real estate. The Westchester brokerage operation operates in Northern Westchester County, a suburban area north of New York City, with six offices located in the towns of Chappaqua, Armonk, Bedford, Sommers, Pleasantville and Katonah. The offices had approximately 175 real estate agents and closed approximately 550 transactions of real estate in 2013.
Douglas Elliman Real Estate operates as a broker in residential real estate transactions. In performing these services, the Company has historically represented the seller, either as the listing broker, or as a co-broker in the sale. In acting as a broker for the seller, their services include assisting the seller in pricing the property and preparing it for sale, advertising the property, showing the property to prospective buyers, and assisting the seller in negotiating the terms of the sale and in closing the transaction. In exchange for these services, the seller pays to the Company a commission, which is generally a fixed percentage of the sales price. The company also offers buyer brokerage services. Douglas Elliman Real Estate also offers relocation services to employers, which provide a variety of specialized services primarily concerned with facilitating the resettlement of transferred employees. These services include sales and marketing of transferees’ existing homes for their corporate employer, assistance in finding new homes, moving services, educational and school placement counseling, customized videos, property marketing assistance, rental assistance, area tours, international relocation, group move services, marketing and management of foreclosed properties, career counseling, spouse/partner employment assistance, and financial services.
DE Capital primarily originates loans for purchases of properties located on Long Island, New York City and Westchester. DE Title Services provides full-service title and settlement services to real estate companies and financial institutions. DE Title Services acts in the capacity of a title agent and sells title insurance to property buyers and mortgage lenders. DE Title Services is licensed as a title agent in New York.
The Company competes with Philip Morris USA Inc., Reynolds America Inc., Lorillard Tobacco Company, Commonwealth Brands, Inc., Century-21, ERA, RE/MAX, Coldwell Banker, GMAC Home Services and NRT LLC.
Vector Group Ltd
10TH FLOOR, 4400 BISCAYNE BOULEV
MIAMI FL 33137