Company News | TOWN Residential Concludes 2017 With Nearly $2 Billion in Sales and Leasing Volume

The firm continues to lead the industry with full transparency.

Andrew Heiberger, Founder and CEO, TOWN Residential

TOWN Residential, New York’s preeminent luxury real estate services firm, is leading the industry while continuing a commitment of transparency by sharing what many consider highly proprietary data. Through the end of 2017, the firm successfully transacted more than $1.906 billion in total residential and commercial sales and leasing volume. This total is comprised of 896 sales transaction sides and 2,548 leasing transaction sides. Since inception, the firm has successfully completed more than 22,500 transactions totaling over $12.906 billion in residential and commercial sales and leasing volume.

Throughout the year, the firm successfully transacted 76 properties over $5 million, with 22 of those transactions exceeding $10 million; while also completing 250 rental transactions over $7,500/month, with 144 of those transactions exceeding $10,000/month. TOWN Residential is currently representing 159 active sales exclusives and an additional 107 sales listings in contract totaling more than $770.8 million; as well as 198 of the city’s top luxury rental exclusives.

“I am very pleased with the firm’s performance throughout a correcting market,” said Andrew Heiberger, founder and CEO, TOWN Residential.

The firm’s significant sales and leasing growth has been matched by recent innovative initiatives and transformative relationships.

  • TOWN Residential introduced the newly imagined, the online destination for exciting sale and rental listings both within New York City and around the world
  • TOWN Residential significantly expanded the firm’s West Side footprint through the opening of 888 Seventh Avenue. Situated inside the prominent Emery Roth & Sons-designed building, the the more than 14,000 square foot West Side Flagship welcomed an esteemed roster of Representatives and Associates as well as the offices of the CEO, TOWN Commercial and TOWN International and Relocation
  • Continuing with the success at 212 Fifth Avenue where TOWN New Development placed 23 of the ultra-luxury residences in contract for a total value of $184,650,000, the team achieved the 75% sales milestone at 52 Wooster, a boutique luxury condo project in Soho; and broke longstanding neighborhood records with the $7.24 million penthouse closing at Circa Central Park, the Upper West Side’s most stunning and iconic new addition designed by FXFowle, as well as the $8.5 million penthouse at the Lower East Side’s bespoke 204 Forsyth.  
  • TOWN New Development introduced Liberty Toye, a collection of studio, one and two bedroom condominiums and private outdoor spaces that provide the setting for the next chapter in the epic tale of downtown grit and glamour.
  • In just over 7 months, TOWN Marketing & Leasing successfully leased over 96% of 20 Exchange’s new 221-unit inventory with an average price per square foot of $67; launched the Financial District’s One Dutch; and 172 Montague, which was fully leased in just 90 days at an average of $70 per square foot.
  • TOWN Commercial‘s billion dollar success continued in 2017 with the national representation of the acclaimed country trio’s upscale family-friendly Rascal Flatts Restaurants.
  • TOWN Residential further extended the firm’s dynamic national and international network to more than 3,600 professionals within more than 185 offices across five continents with Forest Hill, Alpine Homes, Dream Town, and Towne Realty Group most recently joining the roster of hand-picked, best-in-class real estate firms.
  • TOWN Residential was named a member of Who’s Who in Luxury Real Estate, the world’s most prestigious network of brokerages who transact within the top 10% of their market.

    About TOWN Residential,
    Founded by Andrew Heiberger in 2010, TOWN Residential has cemented its position as New York’s foremost luxury real estate services firm with seamless execution of best-in-class customer service by more than 500 local experts within strategic Manhattan and Brooklyn office locations. Completing more than 22,500 transactions totaling over $12.906 billion since inception, the firm celebrates success in luxury residential sales; leasing; the marketing, sales and leasing of property developments; commercial and retail. 

    Prioritizing genuine relationships with best-in-class local experts, TOWN Residential created a powerful network of more than 3,600 professionals within more than 185 offices spanning five continents. Clients and customers benefit from seamless interaction with Fortune International Group, South Florida’s pre-eminent fully integrated real estate firm with a reach that extends into Latin America; Chestertons, one of the premier real estate firms in London and the Middle East; Gilmar, Spain’s largest real estate network headquartered in Madrid; Forest Hill Real Estate, Inc., Toronto’s leading real estate firm specializing in the sale of luxury homes and commercial properties; The Fite Group Luxury Homes, the market leading independent luxury real estate firm in Palm Beach, Florida; AVENUE Residential, the leading Hoboken-based brokerage serving Hoboken, Jersey City, Weehawken and surrounding areas; Alpine Homes, the most sought after firm specializing in destination homes in Switzerland with a reach that extends into France, Austria and Italy; Towne Realty Group, the inside expert for residential homes in North Central, New Jersey; and Dream Town, the leader in online Chicago real estate and an expert within the marketplace. TOWN Residential is also a proud member of Who’s Who in Luxury Real Estate, the world’s most prestigious network of brokerages who transact within the top 10% of their market.

    The firm’s endeavors are backed by TOWN Connect, a fully integrated real estate technology platform that exemplifies the firm’s commitment to providing its representatives, clients and customers with the most innovative and comprehensive applications to exceed all technology, listing and marketing needs.