David Mendez

Caskeys, Kaminsky leave Shorewood in wake of company’s bankruptcy filing

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Shorewood Realtors office at 33rd Street and Highland Avenue in Manhattan Beach. Two well-known real estate agencies dropped their affiliation with Shorewood shortly after the company filed for Chapter 11 bankruptcy. Photo by David Mendez

Shorewood Realtors office at 33rd Street and Highland Avenue in Manhattan Beach. Two well-known real estate agencies dropped their affiliation with Shorewood shortly after the company filed for Chapter 11 bankruptcy. Photo by David Mendez

by David Mendez

Two of Shorewood Realtors’ highest performing real estate agents, Caskey & Caskey and Ed Kaminsky, have left to join Christie’s International Real Estate in the wake of Shorewood’s Chapter 11 bankruptcy filing.

“It was a better fit for me and my clients,” Dave Caskey said in confirming the change. Leaving Shorewood was a difficult move for him and his wife Jennifer, who had been working with Shorewood since high school. All together, Dave totalled 23 years as a Shorewood-affiliated agent, while Jennifer worked there as an agent for 27 years.

The move for both Kaminsky and the Caskeys came shortly after a bankruptcy filing from LBH National Corporation, which purchased Shorewood in 2014 from Arnold Goldstein and Larry Wolf. The Chapter 11 filing, which was done in LBH’s home state of Colorado, is a strategic one, helping LBH stay a lawsuit with ERA Franchise Systems, which partnered with LBH and Shorewood in California.

In a court filing, LBH president Roger Herman noted that among his greatest concerns is an exodus of agents from Shorewood. But in an interview Tuesday, he didn’t express concern.

“In our business, agents move for whatever reason; it’s not untypical,” Herman said, stating that the company is still “number one in town” and that Shorewood is associated with around 250 people and agents.

“No two, three, four or five people make us number one. People turn for various reasons, and they felt it was time for them to make a move,” he said.

Herman reiterated that the Chapter 11 filing was not motivated by financial viability, but by the ERA lawsuit. The companies are currently in settlement talks.

“We’re all looking for a resolution…we hope it’ll be done very shortly,” Herman said. “It was a strategic move; most of our agents understand. Some are concerned, some customers are concerned, but there is no effect on our customers or clients in any way, shape or form.”

In an email, Ed Kaminsky said that he is “excited” about his new affiliation with Christie’s.

“The opportunity to bring global exposure to our clientele is important for the success of our clients in the sale and purchase of real estate,” he wrote. “We pride ourselves in providing premium service and this new partnership will allow us to expand the services we offer.”

Both Caskey and Herman said that the relationship between the two is still on good terms, and will continue to do business when the opportunity arises. ER

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