Manhattan and New York City’s residential market is doing great according to Andrew Heiberger and he feels that his company, TOWN Residential, is in the perfect position to take advantage of that market. CEO Andrew Heiberger founded TOWN Financial in 2010 in Manhattan with a focus on NYC luxury real estate, high-end rentals and new development marketing for condominiums. Two years ago, TOWN had nine offices and over 520 licensed real estate agents and has since grown to eleven offices with over 650 real estate agents and staff.
Earlier this year, TOWN formed a partnership with the Miami based brokerage and development firm Fortune International. Fortune sold $4 billion of real estate last year and claims more than 35 percent of Miami’s real estate market. They have more than one thousand agents and will share marketing, communications and social media with TOWN. TOWN has many clients looking for properties in Miami and Fortune has clients looking for properties in New York City, so this partnership looks to be beneficial for both firms. Heiberger is already set to expand his business to London and he is also looking to expand in Los Angeles.
Heiberger is committed to being open and transparent about the amount of business TOWN does because he sees it as being beneficial to his representatives and clients. They want to know how much business TOWN does and how they compare to other brokerage firms, but some people feel this information should be confidential. Opening the books and sharing real numbers can be helpful in showing the type of growth that TOWN is going through. For instance, at the end of 2014, TOWN had $1.86 billion in total sales and lease which was 15.6 percent more than the end of 2013. As of June 30, 2015, TOWN had 2,056 sales and leases worth a total of $1.188 billion which is a 22 percent increase over the same time last year.
Town is a growing brokerage firm and they have the numbers to prove it. Heiberger is strategically looking to make partnerships with other brokerage firms to increase his growing operations. As long as the real estate market continues to strengthen, TOWN will continue to have success.