Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—rose 3.1% from December to a seasonally adjusted annual rate of 4.00 million in January.
Halstead Merges with Brown Harris Stevens
NEW YORK—The owners of Terra Holdings announced recently that brokerage firm Halstead is now part of Brown Harris Stevens. The strategic restructuring of Terra Holdings subsidiaries significantly expands the footprint and resources of Brown Harris Stevens residential brokerage.
The transition will occur with a phased in approach beginning in New York City. Senior management of both firms, with their combined more than 200 years of experience, will create one of the most powerful privately held real estate companies in the industry.
Bess Freedman will continue to serve as CEO of Brown Harris Stevens, and will be responsible for carrying out the overall vision and day-to-day operations of the expanded brand in New York City and all territories. The senior management of both companies will remain in place with Freedman overseeing the leadership team of Hall F. Willkie, president of BHS Residential Sales; Diane M. Ramirez, current CEO of Halstead; Richard J. Grossman, current president of Halstead; and Stephen G. Kliegerman, president of Terra Development Marketing.
Brown Harris Stevens will maintain its headquarters at 445 Park Ave. All territories of the firm will function as a unified entity under Brown Harris Stevens and operate more than 55 offices including New York City, the Tristate area, the Hamptons, Palm Beach, Miami and other locations throughout the East Coast.
“The power of Terra Holdings working as one will further solidify Brown Harris Stevens as an unstoppable force. This exciting union enables us to focus our extensive resources and forge a larger, even stronger firm to better serve our valued agents and customers in our current and expanded regions,” said Freedman. “As the real estate industry begins to reopen around the country, we are growing a company with a purposeful culture and incredible depth and breadth for the future.”
Historically ranked among the city’s top residential brokerages, this announcement brings together 2,500 agents. In 2019, Brown Harris Stevens and Halstead combined closed 6,000 transactions totaling more than $9 billion.