NYC Real Estate venture is one of the most lucrative businesses in the world. The value of this venture keeps going up and up as time goes. TOWN Residential is a real estate service provider, based in New York City. This company was founded in 2010 by Andrew Heiberger who is the CEO and Joseph Sitt who is the current co-chairman. TOWN Residential has gained market in New York in a period of just five years.
Some of the services that TOWN Residential offers to its clients are luxurious residential apartments and commercial and retail property developments. These apartments can be sold, leased, or even rented. The pricing of these properties varies because some people need apartments to live in, while others are looking for property developments. The success of this company comes from a team of professionals who has vast knowledge in real estate and is experienced to give quality services to the clients.
According to 2015 records in the New York City Real Estate venture, it is believed that $100.47 million has been used by various billionaires at the pinnacle of Extell Development. During the same year, Brooklyn was named the most expensive place where one can purchase a single residence. Some of the Chief Executives like Shaun Osher of a brokerage firms said that 2015 was a year with big sale.
The city experienced the largest sale of a single residence which was sold to Kenneth C. Griffin. Kenneth C. Griffin is estimated by Forbes to have a net worth of $7 billion. He purchased an 18-acre residence worth $147 million. Market observers and real estate brokers are confident that there will be better sales in the next few years. This is because, there are more developments that are taking place and are nearing completion.
Real estate developers say that there are rising demands for the buildings. Most of the buyers in New York City are from China. This is because they are looking for a place where they can park their money due to the uncertainty of their governments. Condominiums broke the record last year having made the best sales.