Things are Heating up at Luxury Brokerage Firm TOWN Residential

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In the past 70 days alone, the firm has sold 200 and leased 675 homes

Andrew Heiberger, Founder and CEO TOWN Residential

The sales market is very much alive in New York City. I predict a very strong fall season; sellers have become reasonable and buyers are jumping on the perceived bargain.

An integral part of the New York real estate landscape, TOWN Residential successfully completed 200 sales transactions and 675 leasing transactions in the 70 day period from June 1-August 11, 2016. The total sales and leasing volume was almost half a billion dollars with an average sales price of $1,991,576 and leasing price of $4,827.

The results exemplify TOWN’s unique fully integrated luxury real estate platform and focus on luxury residential sales; leasing; the marketing, sales and leasing of property developments; commercial and retail.

“The sales market is very much alive in New York City,” said TOWN Residential founder and CEO Andrew Heiberger. “I predict a very strong fall season; sellers have become reasonable and buyers are jumping on the perceived bargain."

With uncompromising principles, TOWN Representatives are leaders in the industry who are recognized for their in-depth market knowledge and delivery of best-in-class customer service. From townhouses and condominiums on the Upper West Side; to co-ops on the Upper East Side; and luxury lofts in SoHo and Tribeca, TOWN Residential Representatives possess vast experience in every type of property.

Four of the firm’s transactions within the past 70 days alone exceeded $10,000,000; 15 were $5,000,000-$10,000,000; and 29 were $2,000,000-$5,000,000. TOWN Residential represented the seller in 74 of the transactions; the buyer in 98; and both the buyer and seller in 28. Among the highlighted sales transactions:

  • $19,700,000 private residence located at 18 East 69th Street represented by Beverly Cole
  • Buyers of the $14,500,000 Penthouse at 176-186 Avenue Of The Americas and $10,750,000 residence at 10 Sullivan Street were represented by Danny Davis
  • Buyers of a $10,500,000 residence at 1141 Park Avenue were represented by Nicole Hechter
  • Six transactions at 15 Leonard Street
  • Three transactions at 225 Fifth Avenue with representation by building experts Joann Wasserman and Carol Hagen-Holt
  • 76th floor residence at 845 United Nations Plaza represented by Debra Stotts

The average price of the completed rental transactions was $4,827 with eight above $20,000; 25 $10,000-$20,000; and 102 $5,000-$10,000. The highlighted transactions over $20,000 per month include:

  • 432 Park Avenue, the tenant was represented by Shari Cohen        
  • 96 Spring Street, the tenant was represented by Aeen Avini and Sean Hughes        
  • 93 Franklin Street, the landlord was represented by Danny Davis
  • 456 Washington Street, the tenant was represented by Emma Lester
  • 51 Tansey Lane, the tenant was represented by Paddington Matz    
  • 360 East 69th Street, the landlord was represented by Mitchell Cashwell
  • 10 Madison Square West, the landlord was represented by Mitchell Cashwell
  • 117A Charles Street, both the tenant and the landlord were represented by Steven Gold

At all price-points, TOWN Residential implements a hand-crafted approach to the marketing of sale and leasing properties with unequaled distribution online and in print; through press and events; and industry syndication. TOWN Residential’s innovative platform extends beyond traditional print and digital exposure. We have cultivated strategic relationships and focused on events that provide our Representatives with personal access to thought leaders, trendsetters, and tastemakers.                

January 1 through August 10, 2016, the firm has successfully transacted more than $1.393 billion in total sales and leasing volume which is comprised of 677 sales transaction sides and 2,142 leasing transaction sides, representing a 3.3% increase in the total number of closed transactions over the same period last year. The data reflects New York City business only.

Among the completed are several notable transactions year to date including the successful sale of 53 properties over $5 million, and 15 exceeding $10 million; as well as 112 luxury leasing transactions over $10,000/month, with 52 of those transactions exceeding $15,000/month, and 30 surpassing $20,000/month.

The firm’s significant sales and leasing growth has been matched by innovative initiatives and transformative relationships including an unprecedented collaboration with South Florida’s pre-eminent Fortune International Group; a strategic partnership with the industry leading data provider UrbanDigs; and expansion The Astor Room, the firm’s industry-leading professional development platform; among many others.    

About TOWN Residential - http://www.townresidential.com
Founded in 2010, TOWN Residential has cemented its position as New York’s foremost luxury real estate services firm with an exhilarating foundation and seamless execution of best-in-class customer service by an unparalleled team of more than 500 Representatives and professionals strategically located in seven prime offices. TOWN Residential specializes in luxury residential sales; leasing; the marketing, sales and leasing of property developments; commercial and retail. High resolution photo of Andrew Heiberger can be downloaded through: https://www.dropbox.com/s/4bsekiwbu94iiob/AH_HIGH_FULL_JTG_2836.jpg?dl=0

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Lori Levin
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