Company News | TOWN Residential tops $13.25 billion with Q1 activity

The firm’s cumulative success is bolstered by quarter activity totaling more than $353 million.

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 the first quarter, the firm successfully transacted more than $353 million in total residential and commercial sales and leasing volume, a total comprised of 159 sales transaction sides and 320 leasing transaction sides. Since inception, the firm has successfully completed more than 23,000 transactions totaling over $13.25 billion in residential and commercial sales and leasing volume.

TOWN Residential is currently representing 160 active sales exclusives and an additional 81 sales listings in contract totaling nearly $585 million; as well as 174 of the city’s top luxury rental exclusives. Included within this exciting portfolio is the headline-making Penthouse at 860 Fifth Avenue, a $35,000,000 joint venture opportunity to create a five-bedroom residence spanning three floors with an additional private roof deck, offering 7,500 square feet of luxurious interior living space and 5,500 square feet of breathtaking terraces; 71 Laight Street, a five-bedroom loft-style home in prime North TriBeCa priced at $8,895,000; and a never before lived in $6,950,000 2,046-square-foot three-bedroom home in the iconic 160 Leroy Street inspired by concepts from renowned entrepreneur and real estate developer Ian Schrager, and designed by Pritzker Prize-winning architects including Herzog & De Meuron.

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

  • 30 Representatives joined the firm’s esteemed roster of more than 400 local experts and industry-leading professionals successfully transacting within over 46,450 square feet of iconic and Class-A office space
  • Continuing with the success at Circa Central Park where TOWN New Development broke longstanding neighborhood records with the $7.24 million penthouse closing and again with the $8.5 million penthouse at the Lower East Side’s bespoke 204 Forsyth, the team outpaced the market with number of contracts signed at Liberty Toye, the 81-unit condominium building by Magnum Real Estate Group in the heart of the East Village. In the coming quarter, the team will be introducing an Upper East Side boutique condominium featuring six sun-splashed full floor residences; and a curated collection of prime Midtown East penthouses boasting meticulous interiors and quintessential sky-high views.
  • TOWN Marketing & Leasing‘s team of experienced brokers, onsite agents and managers offer unrivaled experience in pre-development. Their expertly translated strategy continues to support a robust portfolio that includes notable buildings like 20 Exchange, One Dutch, Icon located at 306 West 48th Street, and Apiary Lofts located at 496 Broadway
  • TOWN Commercial was proud to endorse Lori Shabtai’s nomination for the Real Estate Board of New York’s Most Ingenious Deal of the Year Award for introducing celebrated superchef Daniel Boulud to SL Green’s Marc Holliday and securing the highly anticipated 11,000-square-foot restaurant complex that will span One Vanderbilt’s second floor. The team’s billion-dollar success also continues with Enrique Consante’s national representation of the acclaimed country trio’s upscale family-friendly Rascal Flatts Restaurants.
  • With the help of our International Sales team, a TOWN Representative connected his London-based client to a local expert at our partnering firm in the UK, who is more than well-equipped to help him search for his dream  two-bedroom home in Mayfair. This, and other active referrals are a direct testament to the power of our dynamic national and international network and genuine access to more than 3,600 professionals within more than 185 offices across five continents.
  • TOWN Residential introduced the newly imagined, the online destination for exciting sale and rental listings both within New York City and around the world. The site and refined CRM platform are further examples of the practical application of 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.

In 2017, TOWN Residential successfully transacted more than $1.906 billion in total residential and commercial sales and leasing volume, with 76 properties over $5 million, and 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.

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 an exhilarating foundation and seamless execution of best-in-class customer service by an unparalleled team of over 400 licensed Representatives and industry-leading professionals within over 46,450 square feet of iconic and Class-A office space. Completing more than 23,000 transaction sides totaling over $13.25 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, through the creation of a powerful network and membership within the prestigious Who’s Who in Luxury Real Estate, TOWN Residential has direct access to more than 133,600 professionals within more than 4,185 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; Alpine Homes, the most sought after firm specializing in destination homes in Switzerland with a reach that extends into France, Austria and Italy; 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; 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.