TOWN Residential Launches NO FEE Listings on Website to Best Serve Important Market Segment

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Dedicated section on townresidential.com will debut with more than 1,865 prime Manhattan and Brooklyn no-fee apartments updated in real-time

Andrew Heiberger, Founder and CEO TOWN Residential

Renters are poised to reap the benefits of this changing market. They have their choice of amenity-rich apartments and opportunities to upgrade their current apartment with little to no increase in their monthly housing budget.

Townresdential.com provides comprehensive information on the city’s exciting inventory and is a regarded destination for savvy buyers, sellers and renters alike. To best serve the city’s rental customers and provide them with access to the most options and in turn best service available, TOWN Residential has launched a section dedicated to no fee listings. These listings will also be widely syndicated to popular real estate search engines such as nyt.com, and renthop.com, among others.

TOWN Residential Representatives have extensive experience in the leasing of Manhattan’s luxury properties, with many having helped transform the industry throughout their careers. Through the inclusion of no fee listings, prospective renters can search the firm’s robust database and engage the deep expertise of the TOWN Representatives at no cost.

Approximately 37,000 rental units are anticipated to come online in Manhattan between January 2016 through 2018. In the changing rental environment marked by increased supply, incentives such as owner paid commissions now account for more than 20% of all transactions.

"TOWN continues to market hundreds of exclusive listings that command a standard 15 percent commission, and we are pleased to now offer this additional owner-paid inventory,” said Andrew Heiberger, founder and CEO of TOWN Residential and foremost rental expert. “The one-click availability of these listings coupled with TOWN’s best in class service will change the residential landscape.”

“In my 28 years in the industry, I have never seen this level of inventory,” shared Heiberger. “Renters are increasingly flexible and are willing to compromise on views and even location. They will not compromise on quality of finishes or price and should never compromise on quality of experience.”

To competitively position properties, developers are focused on delivering prime properties with condo-like finishes and all-encompassing amenities such as common workspaces, sky-high lounges, children’s playrooms, tween spaces, and rooftop retreats. Real estate professionals have also noted a softening of building policies, ranging from application requirements to pet and roommate accommodations, in an effort to entice prospective renters.

“Renters are poised to reap the benefits of this changing market. They have their choice of amenity-rich apartments and opportunities to upgrade their current apartment with little to no increase in their monthly housing budget,” said Dan Marrello, Leasing Director and past chairman of the Rental Committee for the Real Estate Board of New York. “The inclusion of no fee listings within our website speaks directly to the level of transparency and commitment to service that are hallmark values of our firm.”

As the Founder and CEO of TOWN Residential, Andrew Heiberger has been the driving force behind the company’s business strategy and long-term vision. Under his thoughtful leadership, the firm boasts a team of over 450 licensed Representatives and professionals within seven strategically located neighborhood offices. Since launching in December 2010, TOWN has transacted more than $9.5 billion while remaining committed to redefining the way in which a real estate services company both operates and delivers.

A successful entrepreneur and New York real estate industry veteran with the oversight of more than 50,000 sales and leasing transactions to his credit, Heiberger has founded and served as CEO of several successful companies. In 1994, at the age of 26 and just out of law school, Heiberger founded Citi Habitats, his first residential real estate brokerage. Over the next 10 years, he orchestrated the company's tremendous growth from two brokers in one office to over 1,000 licensed Representatives and staff in 20 locations throughout Manhattan. In June of 2004, Citi Habitats was acquired by NRT Incorporated.

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Lori Levin
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