Douglas Elliman Forges Ahead to Boston

 

On the heels of a successful expansion across the West Coast just last year, Douglas Elliman—the country’s third largest real estate brokerage company—recently acquired Otis & Ahearn to advance its presence in the greater Boston area. Douglas Elliman’s chairman, Howard M. Lorber, describes Boston as a city with an increasingly global marketplace “ripe with opportunity because of its tremendous appeal to international buyers, tech entrepreneurs, and financial professionals.”

Not only did this partnership result in three new office locations—from Back Bay to the Boston Gold Coast Waterfront—but Elliman has also acquired Otis & Ahearn’s 42 real estate professionals along with their robust new development marketing portfolio. “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,” noted Lorber. 

Founded in 1978 by Kevin J. Ahearn, Otis & Ahearn has a proven track record of effectively serving both buyers and sellers in the Boston area—from Beacon Hill’s traditional row houses to condominiums along the Boston Harbor, and, most recently, an assortment of ground-up new developments including W Boston Residences, the Residences at the Intercontinental, and Trinity Place. 

Ahearn, who is now CEO of Douglas Elliman’s Boston division, expressed equal excitement and optimism regarding the new partnership: “There is no other company that could match the national and international reach that our agents and clients will gain from this union.” Douglas Elliman now boasts 113 offices with more than 7,000 knowledgeable agents across the United States, and a strategic global alliance with London-based Knight Frank Residential for business in luxury markets spanning six continents. “We are joining forces to bring the strongest global real estate experience together under one organization,” said Scott Durkin, president and 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.”