Howard Hanna Real Estate Services, a major brokerage firm based in O'Hara, has officially entered the New York City housing market by acquiring Elegran Real Estate. This strategic purchase of the Manhattan-based boutique brokerage marks a significant expansion for the company into one of the world's most competitive real estate environments.
The move is the culmination of a decade-long growth strategy across New York State, establishing Howard Hanna as a dominant force in the region. The company aims to leverage its extensive network to compete on real estate's largest stage.
Key Takeaways
- Howard Hanna Real Estate Services has acquired Manhattan-based brokerage Elegran Real Estate.
- This acquisition marks Howard Hanna's official entry into the New York City housing market.
- The company is already the largest brokerage in New York State by agent count and homes sold.
- In 2024, Howard Hanna closed nearly 103,000 transactions, generating almost $37 billion in sales volume.
- The move aims to create a unified real estate network across the entire Tri-State area.
A Strategic Entry into Manhattan
The acquisition of Elegran Real Estate is more than a simple business transaction for Howard Hanna; it represents a deliberate and ambitious entry into the nation's most high-stakes property market. Company leadership views the move as a clear signal of their long-term intentions.
"It’s more than an acquisition. It’s a statement of intent," said Howard W. “Hoby” Hanna IV, CEO of Howard Hanna Real Estate Services. "We’re proud to bring Howard Hanna to New York City and excited about the opportunities ahead."
Elegran has established a reputation in Manhattan for its innovative and entrepreneurial approach. According to a news release from Howard Hanna, Elegran's culture aligns well with their own values, emphasizing creativity, collaboration, and dedicated client service. This existing foundation is expected to be amplified by the extensive resources and scale of the Howard Hanna network.
Decade of Growth in New York State
Howard Hanna's expansion into Manhattan is not a sudden development but the capstone of a methodical, ten-year expansion across New York. The company has steadily built its presence from Western New York to the Hudson Valley, becoming the state's leading brokerage.
Howard Hanna by the Numbers (2024)
- Total Transactions: Nearly 103,000
- Closed Sales Volume: Almost $37 Billion
- Total Agents: 15,000
- Number of Offices: Over 500
- States Served: 13
This growth was achieved through a series of strategic acquisitions and partnerships. Key moves included the 2017 acquisition of Nothnagle Realtors, which solidified its presence in the Rochester and Buffalo regions. The development of Howard Hanna | Rand Realty was also crucial, extending the company's reach into Westchester, Rockland, and Orange counties.
This sustained effort has made Howard Hanna the largest brokerage in New York State, measured by both the number of agents and the volume of homes sold.
Building a Unified Tri-State Network
The company's vision extends beyond New York City. The goal is to create a seamless, interconnected real estate service that spans the entire Tri-State area of New York, New Jersey, and Connecticut. This latest acquisition is a critical piece in that puzzle.
Matt Rand, President of Howard Hanna for New York, New Jersey, and Connecticut, highlighted the consumer benefits of this integrated network.
"For the first time, consumers can work with a single brokerage that connects the entire Tri-State area," Rand stated. "From New York City through Long Island, Westchester, Connecticut and the Hudson Valley, and Northern New Jersey, we offer a truly unified network that meets clients wherever life takes them."
Broader National Expansion
Howard Hanna's growth is not limited to the Northeast. In August, the company rebranded the largest residential real estate firm in the Carolinas as Howard Hanna Allen Tate Real Estate. This move is part of a larger strategy to unify its expanding network of over 500 offices under a single, recognizable brand name across 13 states.
This national branding effort, combined with the entry into Manhattan, underscores the company's long-term strategy. For nearly seven decades, the firm has focused on growth through service and innovation.
"Expanding into Manhattan reflects our vision for connecting people and places in meaningful ways, helping agents thrive and clients achieve a best-in-class real estate experience,” added CEO Hoby Hanna. By integrating Elegran into its operations, Howard Hanna aims to provide a consistent and high-quality service for clients moving to, from, or within the greater New York metropolitan area.
