News Summary
Howard Hanna Real Estate Services has officially entered the Manhattan housing market through its acquisition of Elegran Real Estate. This strategic move aims to enhance Howard Hanna’s service offerings and strengthen its competitive position in New York’s real estate landscape. Elegran will continue operations under Howard Hanna while providing its agents access to improved resources and technology. The merger reflects Howard Hanna’s commitment to better serve clients across the Tri-State area, positioning itself as a leading brokerage in Manhattan.
Manhattan – Howard Hanna Real Estate Services has officially entered the Manhattan housing market following its acquisition of Elegran Real Estate. This strategic move allows Howard Hanna to broaden its reach and enhance its service offerings in one of the most competitive real estate environments in the country.
The acquisition comes two years after Howard Hanna expanded its operations into Long Island and is aimed at strengthening its presence in the New York real estate landscape. Elegran Real Estate, which has operated from a single office at 1407 Broadway in Manhattan, will continue its operations under the Howard Hanna umbrella as part of this merger.
While the financial terms of the acquisition have not been disclosed, the impact of this move is expected to be significant. Howard Hanna’s CEO, Howard W. “Hoby” Hanna IV, has characterized the acquisition as a statement of intent to better connect people and places through real estate. The company’s expansion into Manhattan is designed to improve the overall real estate experience for both agents and clients.
Strategic Growth and Expansions
Howard Hanna has been operating for nearly seven decades, emphasizing strong relationships, excellent service, and continuous innovation as pivotal components of its growth strategy. The company is not new to growth through acquisitions, having previously secured a majority stake in Coach Realtors in March 2023, which added 19 offices on Long Island. Additionally, the firm has also acquired Marquee Realty, enabling its growth into Queens.
Over the past decade, Howard Hanna has emerged as the largest brokerage in New York State by agent count and homes sold. In 2024, the company closed nearly 103,000 transactions, with a total sales volume nearing $37 billion. Such figures underscore Howard Hanna’s robust capacity for handling diverse real estate transactions in a regional market.
Benefits for Elegran Agents
The merger with Howard Hanna provides Elegran agents access to enhanced resources, technology, and marketing power while retaining their personal, client-first culture. Michael Rossi, CEO of Elegran, founded the firm with a focus on agent-centric values and views the acquisition as a pathway to further growth. The collaboration is expected to unify brokerage services across the entire Tri-State area, which includes New York City, Long Island, Westchester, Connecticut, and Northern New Jersey.
Implications for Clients
Matt Rand, president of Howard Hanna New York, highlights the company’s commitment to providing clients with a comprehensive brokerage service that spans multiple regions. The expansion into Manhattan brings a wealth of market knowledge and resources that can better serve clients in navigating the complexities of the real estate market in New York City.
About Howard Hanna
With over 500 offices operating across 14 states, Howard Hanna is the largest privately held family-owned brokerage in the United States and ranks as the fifth-largest overall. This robust network positions the firm favorably to leverage its infrastructure and operational capabilities in an expanding market.
In conclusion, the acquisition of Elegran Real Estate by Howard Hanna signifies a strategic investment in Manhattan’s competitive real estate landscape, aimed at enhancing service quality for clients and agents alike and reaffirming Howard Hanna’s position as a leader in the New York real estate market.
Deeper Dive: News & Info About This Topic
HERE Resources
Manhattan Judge Dismisses Lawsuit Against Housing Reforms
Domain Cos. Acquires Vorea Group to Enhance Development Capabilities
Redevelopment of 5 Times Square to Address Housing Crisis
Largest Hotel Portfolio Sale Transforms New York City Market
JPMorgan Chase Shifts Workforce to Texas from New York
Manhattan Office Market Sees Unprecedented Leasing Surge
Good Good Crew Blends Golf Culture with NYC Adventures
The Sleep Lab: A New Sleep Enhancement Program in NYC
New York City Office Market Sees Recovery Amid High Vacancy Rates
Nine Orchard Hotel Opens in Manhattan’s Lower East Side
Additional Resources
- Post-Gazette
- Wikipedia: Real estate in Manhattan
- Long Island Business News
- Google Search: Howard Hanna expansion NYC
- HousingWire
- Google Scholar: Howard Hanna real estate
- Inman
- Encyclopedia Britannica: Real estate
- Real Estate News
- Google News: Elegran Real Estate
Author: STAFF HERE NEW YORK WRITER
The NEW YORK STAFF WRITER represents the experienced team at HERENewYork.com, your go-to source for actionable local news and information in New York, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
