Douglas Elliman acquires Otis & Ahearn
Douglas Elliman, the fourth-largest residential real estate brokerage company in the United States, recently acquired Boston-based Otis & Ahearn. Douglas Elliman will span the three Otis & Ahearn offices with 30 sales associates in Boston.
Across the United States, Douglas Elliman boasts 113 offices and more than 7,000 agents.
“A truly global city ripe with opportunity because of its tremendous appeal to international buyers, tech entrepreneurs and financial professionals, I am extremely pleased to bring our highly acclaimed and proven brand of real estate to Boston,” said Howard M. Lorber, chairman of Douglas Elliman Realty, LLC. “I was particularly impressed by the team at Otis & Ahearn, not only for their astute capabilities in the resale market, but also for the very sophisticated new development division they have built over the last 30 years.”
Founded in 1978 by sole principal, Kevin J. Ahearn, Otis & Ahearn has been a prominent force in serving sellers and buyers of Boston, ranging from the iconic row houses of Beacon Hill to architecturally significant new condominiums along the waterfront. It has also represented a robust portfolio of ground-up and conversion new developments including W Boston Residences, the Residences at the Intercontinental and Trinity Place.
“There is no other company that could match the national and international reach that our agents and clients will gain from this union,” said Ahearn, who will be CEO of Douglas Elliman’s Boston division. “From its global alliance with Knight Frank Residential to its new television, print and digital brand campaign, ‘It’s Time for Elliman,’ to the beautiful quarterly magazine, Elliman, the Douglas Elliman umbrella will help propel our agents to new, untold levels of success.”
“We are joining forces to bring the strongest global real estate experience together under one organization,” said Scott Durkin, COO of Douglas Elliman. “This is an excellent acquisition for all because as part of Douglas Elliman, Otis & Ahearn, agents will have more opportunities for exposure while expanding service areas and professional expertise for home buyers and sellers throughout the greater Boston area, across the United States and around the world. In addition, we are thrilled to expand referral opportunities for our agents as we move into this exciting new market.”
The Boston offices are located at 84 Atlantic Ave., 21 Wormwood St. and 20 Park Plaza, Suite 1101.
Established in 1911, Douglas Elliman Real Estate is the largest brokerage in the New York Metropolitan area and the fourth largest residential real estate company nationwide. For more information on Douglas Elliman as well as expert commentary on emerging trends in the real estate industry, visit elliman.com.
Coming soon will be a Boston section on the website, which will be found at www.elliman.com/boston.