Stewart Grows Commercial and Affordable Housing Presence with Acquisition of All New York Title Agency, Inc.
April 10 2024 - 4:00PM
Business Wire
Acquisition Strengthens National Commercial
Services’ Position in New York and creates a platform for National
Affordable Housing Services
Stewart Information Services Corporation today announced the
acquisition of the All New York Title Agency, Inc. (“All New
York”), based in White Plains, New York. Founded in 1995 by Joseph
Petrillo and John Martin, All New York has been one of the leading
commercial boutique title companies, serving Affordable Housing,
Supportive Housing and Senior Housing clients throughout New York
State, in addition to relationships in the residential, condominium
and multifamily markets.
“This acquisition is yet another example of our commitment to
investing in growing our National Commercial Services business,”
said Fred Eppinger, Stewart Chief Executive Officer. “While we
continue to navigate a historically difficult commercial market, we
believe there are opportunities to grow our commercial presence in
unique sectors such as Energy and Affordable Housing. All New York
has built extensive expertise and a strong reputation by working
with attorneys, developers, not-for-profits, tax credit investors,
bankers and municipal agencies across all levels of the state.
They’re an important addition to the Stewart family as we
strengthen and build new and additional capabilities on our journey
to become the Premier Title Services Company.”
“As a long-time agent, we have known Joe and John for many
years, and have seen how they run an impressive business. We’re
very proud to add them to the Stewart family,” said Stewart Group
President Steve Lessack. “Their depth of knowledge creates a strong
foundation for Stewart in serving the Affordable Housing community.
These sophisticated, high liability transactions involving complex
mortgage stacks with letter of credit bond enhancements, often
coupled with transferable development rights, particularly in New
York City, require a unique skillset that they have developed.
Their capable team is a valuable addition to Stewart, and we’re
excited about the possibilities our combined teams have.”
“All New York was founded on the values of providing
professional, reputable and superior service,” said Petrillo and
Martin. “These are all qualities we share with Stewart, so joining
the Stewart family was an easy decision. Having the backing of one
of the largest and most experienced title underwriters will only
enhance our ability to expand our platform - both in the Affordable
Housing community and other commercial arenas, as well as in New
York and in new locations and geographies, as we help grow
Stewart’s commercial footprint. We look forward to a bright future
together as part of the National Commercial Services team.”
About Stewart
Stewart (NYSE-STC) is a global real estate services company,
offering products and services through our direct operations,
network of Stewart Trusted Providers™ and family of companies. From
residential and commercial title insurance and closing and
settlement services to specialized offerings for the mortgage and
real estate industries, we offer the comprehensive service, deep
expertise and solutions our customers need for any real estate
transaction. At Stewart, we are dedicated to becoming the premier
title services company and we are committed to doing so by
partnering with our customers to create mutual success. Learn more
at stewart.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240410913261/en/
John Chattaway, Stewart Media Relations (713) 625-8180;
mediarelations@stewart.com
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