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Town Residential, The Cream Of The Crop In Real Estate Brokerage In The Magnificent New York City.

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New York is by far the most dynamic city on the globe. The New York real estate clearly embodies this rule of dynamism. A lot of residential properties have mushroomed in this city under the sun in recent years that have cajoled many people to relocate here. Town Residential, a real estate brokerage firm has stamped its authority in the New York real estate realm thanks to its invigorating foundation and off-the-charts customer service. After 5 years in the fast and cutthroat market, Town Residential has become a magnet for real estate brokers and enthusiasts alike.

 

Town Residential opened its doors in 2010 courtesy of its CEO and co-chairman Andrew Heiberger and boasts of approximately 500 employees today. Town Residential centers on sales, marketing and leasing of luxury commercial and residential properties in the larger New York City. The 5 year streamlined operations have seen Town Residential record more than $8.5 billion in total sales and leasing volume, more than 15,750 transactions encompassing over 3800 sales and approximately 12,000 rentals, completion of about 50 trophy penthouses and over 175 townhouses not to mention over 80 in Brooklyn alone.

 

At the epicenter of this exponential growth is a team of experts who have vast experience and expertise in the real estate world. The CEO Andrew Heiberger cultivated a winning culture among these professionals from the outset, and this winning mentality has gone a long way towards propelling Town Residential to unprecedented heights. The Town Residential representatives and executives are handpicked professionals that give customers real-time support and expert advice regarding real estate sale and purchase.

 

Town Residential executives have drawn up an ambitious set of projects that will literally uplift the face of parts of New York City including 126 unit corner project to be laid out at 300 West 122nd Street, 2 high profile Upper West Side projects that will yield approximately 50 prime homes, a massive scale 49 story condo tower to be laid out in the East 40s, an innovative 60 story 303 East 44th Street, several boutique condominiums and a huge scale prewar conversion project in the most revered location in the larger Brooklyn area.

 

The company CEO, Andrew Heiberger, in his speech during the 5th-anniversary celebration said it is only the beginning of good things to come for the city of New York and the newly opened outposts. He reiterated that the success of Town Residential is attributed to the strength, authenticity, and transparency of his over 600 representatives and experts. He is building a brand that’s fully committed to raising the bar and altering perceptions.

 

Town Residential today continues to set the trend in terms of real estate development, marketing, sales and the best places to work evident by the Crain’s listing as one of the top 50 best places to work in New York.

Luxury Real Estate Market is Cooling Down

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A report by real estate agency Douglas Elliman that was prepared by an appraisal firm, Miller Samuel, identified that the real estate market in New York City is heading in three different directions at the same time.

One segment, the luxury market which represents the top ten percent of all sales in price has slowed down with only an 8% increase in sales and a decrease in properties that were put onto the market is broken down into two components; the new development market and the resale market. While the overall numbers in the luxury market still sound impressive these luxury sales were impacted by apartments in new construction, which typically have an higher price tag being included in the figure. New units are currently being marketed now than in the past in this segment and the current sales represent contracts signed a year ago. One analyst indicated that buyers are becoming more hesitant with the higher prices and are looking for deals on units instead. Many sellers are turning to local luxury real estate firms like Town Residential Real Estate to help place their apartments. Town Residential has recommended that they anticipate further downward pressure on sellers and long times for transactions to get finalized in this segment going forward.

Town Residential real estate is one of the premier real estate firms in the New York City market. They have a specialty in the luxury real estate segment and have a long history of providing clients with the ability to quickly sell their homes with the proper pricing and research that they provide to them regarding market conditions.

The final segment discussed in the article is that for resold units which represent 75% or more of the transactions in NYC. The market for these cheaper units are selling fast and this is driven primarily by demand for these units as well as the affordability of these units which average less than a million.