Real estate firm Halstead has been merged into Brown Harris Stevens residential brokerage, as part of a restructuring of subsidiaries owned by Terra Holdings.
Senior management of both firms will create “one of the most powerful privately held real estate companies in the industry,” according to a statement.
Halstead – which has offices in Darien, Greenwich, New Canaan, Rowayton, Stamford, Westport and Wilton – will have its name phased out over the next year or so in favor of the Brown Harris Stevens (BHS) moniker.
The resulting entity will operate 55 office sites, including in New York City, the tristate area, the Hamptons, Palm Beach, Miami and other locations throughout the East Coast.
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.
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.
In 2019, BHS and Halstead combined had closed 6,000 transactions totaling more than $9 billion. Halstead achieved the highest sale price in 2019 – $50 million – of a waterfront estate in Greenwich.