Robert Paul Properties Opens Newbury Street Office
By Camilla McLaughlin
In 2009, two well-known legends in Massachusetts came together to form their second real estate enterprise, Robert Paul Properties. Five years and six offices later, on the anniversary of their founding, they opened their seventh office in Boston which is an entirely new territory for them.
“Bob and I have been eyeing Boston for many years. We recognized early on that so much of our business (on the Cape) comes out of Boston and the primary suburbs,” says Paul Grover, one of the founding partners with Robert Kinlin. Before making a final decision the duo did their research, even conducting focus groups with real estate professionals and clients. “We really confirmed that people in Boston were our existing clients. We wouldn’t have to start relationships because these are people we’ve been doing business with for 25 or 30 years.”
The initial goal was to simply connect with potential clients before they cross the bridge to the Cape but the pair soon realized that Robert Paul was also a perfect match for Boston’s high end residential market. They opened their Newbury Street office on January 2 and listed a penthouse unit at the old Ritz Carlton on January 8 for $10.5 million. Within a week, Grover says, “we had an accepted offer.”
And rather than a larger operation or affiliate of a large franchises, Robert Paul’s offices tend to be boutiques focused entirely on the upper price brackets. Offices are small with just 10 to 12 people. But, as Grover points out, they “usually have some of the best people in those markets.” Some of Boston’s top agents have signed on with Grover including David Makie who has sold some of the most rarified residences in Boston over the eight years, including a record breaking $18 million Back Bay home. Brian Warner Dougherty joined Grover and Kinlin as a partner in the Boston office.
Another important focus for Grover is luxury market innovation and that is one reason why in five years the firm has accumulated accolades such as Top Luxury Brokerage of the Year in 2013 and a ranking as the Top New England Real Estate Company by Inc. Magazine. Sales volume over this five year period has grown from $37 million to more than $410 million in 2013. Expect to see even more accolades and sales growth with the company’s entree into the Boston market.