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Chairman of Clifton Park, N.Y., Realty Firm Buys Stake in Albany, N.Y., Firm.
Byline: CHET BRIDGER
Aug. 4--Stovroff Realty Chairman Merle Whitehead has purchased a major stake in an Albany area real estate firm in a move he hopes will lead to forming a dominant realty company across upstate New York.
Whitehead is now co-owner of Realty USA, a 325-agent firm based in Clifton Park, which had a transaction volume of about $431 million last year.
Stovroff and Realty USA will continue operating independently under a "strategic partnership." The two firms combined would create a company with 24 offices and annual sales of $1.25 billion, making it one of the nation's 30 largest real estate companies.
"This is the first step …
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