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Entrepreneur Acquires Dwelling Quest

NEW YORK CITY-Telecommunications entrepreneur Daren W. Hornig completes buy-out of Manhattan-based Dwelling Quest, a residential brokerage firm. Industry sources say the price tag was just under $10 million.

By Barbara Jarvie | Updated on September 12, 2003

NEW YORK CITY-The founder of OnSite Access, a provider of fiber optic, digital and broadband network services, has completed the buy-out of Dwelling Quest, a residential brokerage based here. Though financial details of the transaction were not released, industry sources peg the cost to be slightly under $10 million. Backing is being provided by the Cohen family, which owns and operates the 400-unit Cohen Fashion Optical retail chain in conjunction with affiliates.

OnSite’s founder, Daren W. Hornig, a former Newmark and Co. broker, says he is bringing his vision of residential market service to Dwelling using a business model he calls the “Jet Blue of real estate-a builder of brand loyalty.” Hornig adds, “While people fly far more than they buy, sell or lease homes, the principle remains the same–focus on customer service and long-term relationships. Hard-working New Yorkers, notoriously pressed for time, are too often left on their own to work out logistics. Not at Dwelling Quest. We’re taking the long-term/full-service approach, and we’ll do this all at a price point package that costs them nothing additional. People always want first-class service at coach pricing.”

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