Town Residential is back in the news again with the addition of yet another outpost to its wide array of luxurious offices in and around New York City. This will be the company’s 10th Manhattan outpost since its inception back in the year 2010. The new outpost of the company has been set in the Meatpacking District of NYC and has intrinsic value in the long run due to it access to residential neighborhoods along the river Hudson which also helps boost its brand value.
The company has leased out the second floor of 446W. 14th St. in its entirety. The new office boasts of 7100 square foot space with 16-foot ceilings and has ready access to a private roof deck which sits on top of the three storied building. Speaking to the media, Mr. Heiberger, the founder, and CEO of the residential brokerage firm said the move will help position Town Residential as a brokerage for high-end sales and will help attract brokers. The new outpost will be the first brokerage of its kind to feature an outdoor space for brokers to meet with clients. Joining Town Residential in its new office will be another boutique firm Thomas and Ingram that has its focus on the West Village area. Meanwhile, Mr. Heiberger would himself be relocating to a new smaller office at 45 Horatio St. in West Village.
Sitting at the entrance to High Line, the new office is of great significance due to its emerging residential neighborhoods which continue to grow at a significant pace with new condo buildings and commercial complexes springing in the area. Apart from the Meatpacking District, Town Residential has opened up offices in other high profile locations as well which include its headquarters at 33 Irving Place, east of Union Square and at 530 Laguardia Place in Greenwich Village.
The deals were not made public by Mr. Heiberger but as per estimates the prices in the area are well beyond $90 per square foot. The building’s landlord is Thor Equities, which also happens to be Town’s Residential parent investor and is one of the largest owners of retail space in the city.
About Town Residential
Started in the year 2010, Town Residential has established itself as a premium boutique brokerage firm in the city. The firm was founded by Andre Heiberger who now sits as its current CEO. In a recent poll undertaken by Crain’s, the firm also emerged as one of the Top 50 Best Places to Work in New York City.
Town City was recently in the news for acquiring the boutique firm Thomas and Ingram, whose focus is the area of West Village. The firm would be moving along with Town Residential to their new office in the Meatpacking District.
Originally from Arizona, Greg Hague has been working in the real estate industry for many years now. Thirty-five years to be exact. Today, Hague travels across the entire United States talking about how the current real estate market works and how homes are being sold. Hague is not completely happy with the real estate market due to the fact that the same marketing procedures have been being used for over seventy-five years now. With the popularity of the internet, social media and other marketing techniques, Hague feels this process should have changed by now and the process of buying and selling a home should be very different than it is today. There are marketing tactics being used by major corporations that if incorporated into the real estate industry, could make a huge difference in the real estate market and how much people are able to sell their homes for.
Labeled by Hague, the current process of selling homes is considered to be done by ‘hope marketing’. This process involves a cookie cutter process of homes being sold as a meeting is set up with an agent, a sign is put on a front lawn and the listing becomes part of the MLS system which can be viewed by potential buyers and agents. Very little marketing is utilized and there really is no involved process that helps sellers get the most money possible when selling a home.
With many different real estate programs available to potential agents, there are a number of tactics taught when it comes to selling a home. The Real Estate Mavericks, run by Hague, teaches outside of the normal box. A fast sale formula is designed to take place over 29 days. At that time, a home or property should sell for a maximum price. This training involves securing clients, building your reputation and changing the world of real estate.
The Real Estate Mavericks utilize Hague’s vision to coach and educate agents through the process of listing and selling a home. The goal is to generate a great deal of excitement so a home will become a big interest for a number of people who may begin to out bid one another. As the price of a home goes up, this is because people don’t want to lose a listing that they have fallen in love with. The end result works well for the seller but the agent also develops a great reputation for getting a great sale price for their client.
The rapid growth of technology startups is having a positive effect on the New York City real estate industry. According to a publication originally reported on the Huffington Post, the increase of tech activities is affecting the real estate in New York in four major ways. There has been an increase in competition, shrinkage of supply and high price for real estate properties. Tech companies have so far accounted for 19 percent of leasing activities since 2014. The average financing has also sprouted from $6 million to $17 million. The rent in neighborhoods such as Chelsea, Union Square and Flatiron has increased by 80 percent.
The increased popularity of office spaces is another way that tech activities have influenced the NYC real estate to enter towns. Apart from company engagement and culture, the most vital issue for HR professionals is company space. The super competitive tech industry has seen different tech firms approaching property owners with requests for modern office space. These firms have been requesting for loft spaces having rooftops, open floor plans and exposed brick walls. The unique features are meant to cater to the new leasers while promoting a great working environment.
By bringing new perspectives to old neighborhoods, districts like Flatiron have become tech hubs. Over the years, fashion designers, creative firms, garment manufacturers and technology firms have moved into neighborhoods that are in close proximity to their work places. Creation of hot residential neighborhoods is being factored in the development of real estates. The Tech professionals need places to live and they prefer leaving in neighborhoods that are likely to bring in new businesses.
Town Residential is a NYC real estate firm based out of New York. Andrew Heiberger founded the firm in 2010. Andrew dabbles up as the chairman and chief executive officer of the firm. The firm specializes in luxury residential sales, marketing and leasing. Property developments form part of the services offered by Town Residential. The firm is popular give its high quality of service.
Town Residential has nine offices within New York City. Each office specializes in luxury real estate property in the area. The firm hires experienced and qualified professionals to work in various departments. Since it was established, Town Residential has received a number of awards. It received the Best Firm to Work for award and the Top 50 Best Places to Work in New York City award. In order to provide excellent services, the firm has established a sales and leasing department, marketing, administration, corporate, creative and new developments departments.