“This partnership gives our agents the scale, technology, and marketing power to grow their business while maintaining the personal, client-first culture that has defined our success in the city.”
This legislation will make available an opt-in tax incentive to incentivize redevelopment of vacant or abandoned one-to-four family homes for use as affordable homeownership or rental housing.
This year’s breakfast featured Kenny Burgos, former New York State Assembly Member and now CEO of the New York Apartment Association, as keynote speaker.
“This partnership gives our agents the scale, technology, and marketing power to grow their business while maintaining the personal, client-first culture that has defined our success in the city.”
NEW YORK— Howard Hanna Real Estate Services has officially entered the New York City market through the acquisition of Manhattan-based Elegran Real Estate.
This strategic expansion announced on Oct. 16, connects the brokerage firm’s suburban and statewide presence with Manhattan. No financial terms of the transaction were disclosed. Elegran Real Estate Services operates out of offices on the 26th floor at 1407 Broadway.
“This is more than an acquisition — it’s a statement of intent,” said Howard W. “Hoby” Hanna IV, Chief Executive Officer of Howard Hanna Real Estate Services. “For nearly seven decades, our company has grown through relationships, 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. We’re proud to bring Howard Hanna to New York City and excited for the opportunities ahead.”
This expansion follows a decade of growth for Howard Hanna across New York State. Since entering the market just 10 years ago, the company has become the largest brokerage in the state by both agent count and homes sold, closing just shy of 103,000 transactions company-wide in 2024 and generating nearly $37 billion in total closed sales volume.
Elegran has built its reputation on an entrepreneurial spirit and forward-thinking approach that mirrors Howard Hanna’s own values, the company stated in a press announcement. The firm’s culture of innovation and independence has fostered a dynamic team of agents who thrive on creativity, collaboration, and client service.
The brokerage will operate under Howard Hanna Real Estate. Michael Rossi will be running the city location, working in conjunction with Matt Rand, who is the President of the Tri-State market. Through the acquisition, a total of 157 Elegran agents will join the Howard Hanna network.
“I founded Elegran with a simple goal: to create a brokerage that truly puts its agents first,” said Michael Rossi, CEO of Elegran. “As the industry evolved, I recognized the value in joining a larger, more influential community. Howard Hanna was the obvious choice. This partnership gives our agents the scale, technology, and marketing power to grow their business while maintaining the personal, client-first culture that has defined our success in the city.”
Elegran agents join Howard Hanna’s network of more than 15,000 agents and staff, recognized among the most productive professionals in real estate across the Mega 1000 brokerages.
Clients and agents will further benefit from Howard Hanna’s fully integrated suite of essential services — mortgage, title, and insurance—creating a seamless, end-to-end experience for every stage of the real estate journey, Howard Hana stated.
“For the first time, consumers can work with a single brokerage that connects the entire Tri-State area,” said Matt Rand, President of Howard Hanna New York, New Jersey, and Connecticut. “From New York City through Long Island, Westchester, Connecticut, the Hudson Valley, and Northern New Jersey, we offer a truly unified network that meets clients wherever life takes them.”
A few months ago, Coldwell Banker Warburg reported that two high-performing teams were joining the firm from Elegran Real Estate—the Asset Advisory Team and the Waterview Advisory Group. In recent months, 25 real estate brokers and agents joined CBW from Elegran and other brokerages and firms, the company reported in its announcement on Aug. 12.
Howard Hanna Real Estate Services provides real estate, mortgage, title, and insurance services across 14 states. Howard Hanna operates more than 500 offices with 15,000 sales associates and staff.
This legislation will make available an opt-in tax incentive to incentivize redevelopment of vacant or abandoned one-to-four family homes for use as affordable homeownership or rental housing.
The region’s current month’s supply of inventory stands at 3.9 months—below the 4-to-6-month range typically associated with a balanced market.
The two organizations plan to conduct due diligence and finalize definitive agreements by the end of 2025, followed by the pursuit of required regulatory approvals.
The competitive and economic assumptions underpinning our application have shifted, altering our return expectations on the proposed $2.3-billion investment.
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