Pennsylvania-based real estate brokerage Howard Hanna said Thursday it has acquired New York City brokerage Elegran — a move that expands the firm's footprint in the Big Apple.
Howard Hanna operates more than 500 offices across 14 states, according to the company's latest tally. The Pittsburgh company entered New York state's real estate scene a decade ago and mainly focused on other major cities in the Empire State — including Buffalo, Rochester and Syracuse.
Howard Hanna has been circling the wagon on the New York City market for years, but the Elegran acquisition puts the firm squarely in the nation's most populous city. In 2023, Howard Hanna acquired Long Island-based brokerage Coach Realtors. In June, the company bought Marquee Realty, a small Queens-based brokerage.
Acquiring Elegran was part of a larger company expansion aimed at connecting the "suburban and statewide presence with Manhattan," Howard Hanna officials said Thursday.
Howard Hanna's CEO, Howard Hanna IV, said the Elegran move was "a statement of intent."
"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," the CEO said in a statement Thursday.
The two privately held companies did not disclose the financial terms of the acquisition.
Howard Hanna and Elegran mark the latest in a recent series of brokerages combining forces.
Last month, New York City-based Compass announced its plans to merge with Anywhere Real Estate, the parent company of Century 21, Coldwell Banker, The Corcoran Group, and Sotheby's International Realty. The Anywhere-Compass merger must first clear regulatory hurdles before becoming official. Also in September, Texas-based United Real Estate — the owners of Platinum Realty — announced a merger with SunWest Real Estate.
Howard Hanna is one of the largest and most active brokerages in New York. Agents there closed almost 103,000 real estate transactions — or nearly $37 billion — in the state last year, according to company data. Company officials announced in August that it entered the Georgia market by acquiring the Alliance Group Realty, a South Carolina brokerage that has offices in the Peach State.
In a statement, Elegran CEO Michael Rossi said he founded the company with the goal of putting real estate agents first, but "as the industry evolved, I recognized the value in joining a larger, more influential community."
"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," Rossi said in the statement.
Officials with Howard Hanna and Elegran did not immediately respond to a request for comment Thursday about Rossi's future with the company or the number of agents the combined company will have.