The antitrust division of the New York Attorney General’s Office is investigating Compass’ footprint in the New York market, The Real Deal has learned.
Agents with the department have reached out to leaders at some of New York City’s top brokerages, requesting information as part of an inquiry into the residential giant, according to a message viewed by TRD.
The Attorney General’s office has not released any public information about the alleged investigation. A representative with the office declined to comment.
A spokesperson for Compass also declined to comment.
The probe comes after Compass closed its $1.6 billion merger with Anywhere Real Estate, the parent company of brands such as Corcoran, Sotheby’s International and Coldwell Banker, earlier this year. The acquisition made Compass’ new parent company, Compass International Holdings, the largest residential real estate firm in the country with more than 340,000 agents and franchisees.
The seismic deal previously appeared to be in the clear of any federal antitrust concerns after Compass engaged Mike Davis, a lawyer known for advancing mergers and being closely aligned with President Donald Trump. The Wall Street Journal reported Davis helped the brokerage make its case to Deputy Attorney General Todd Blanche, who, in turn, shut down interest in an extended review by the head of the DOJ’s antitrust division.
Compass’ deal for Anywhere followed another major acquisition by the firm in 2025, when it paid $444 million in cash and stocks for @properties and Christie’s International Real Estate.
TRD previously reported that the expanded presence Compass claimed in its deal for Anywhere appeared to be ripe for antitrust scrutiny.
An analysis by the Capital Forum, a regulatory publication, found that a combined Compass-Anywhere brokerage would well exceed that threshold in a number of cities. In 2024, Compass and Anywhere combined for over 80 percent of transaction volume in Manhattan and over 60 percent in San Francisco, according to the analysis.
Merger guidelines under the DOJ and Federal Trade Commission state that a combined market share of over 30 percent can “indicate that a merger’s effect may be to eliminate substantial competition between the merging parties.”
Earlier this week, TRD reported that Christie’s International had terminated its licensing agreement with its affiliate in New York City and the tri-state region, Christie’s International Real Estate Group. The reasons for the termination remain unclear, though the split means the affiliate is no longer under Compass’ umbrella in the region.
Read more
Compass-Anywhere merger dodges antitrust concerns for speedy closing
