NEW YORK--(BUSINESS WIRE)--TOWN Residential is proud to announce that it has exceeded $1 billion in closed sales through the first three quarters of the year, which tops last year’s cumulative earnings. In 2012, the company hit $1 billion in December. One year later, the extreme revenue was achieved in September.
“It is very clear that TOWN Residential is a front runner in the industry,” said Andrew Heiberger, Founder and CEO of TOWN. “We have become established leaders in the luxury Manhattan real estate market.”
Completion of phase two of TOWN’s growth plan was memorialized on Tuesday, October 15th, with the official opening of TOWN West Village in the Meatpacking District. This trophy office will feature Manhattan’s only fully equipped, outdoor real estate work space, to be called TOWN Rooftop. TOWN now has the number one largest luxury real estate presence Downtown below 34th Street, as well as the fourth largest footprint on Manhattan’s East Side.
The company has closed 702 transaction sides, with a total volume exceeding $1 billion through the month of September 2013.
TOWN also successfully completed 2,867 rental transactions which is over 10 transactions every day, with a cumulative value of $297,040,000. This number is not included in the $1 billion sales revenue.
“More of the same,” Heiberger said. “We will continue to introduce new and improved systems, technology, and information to enhance the process of buying and selling luxury real estate and we will continue to fine tune our operations.”
“It is important to note that TOWN’s New Development division currently has more than 340 million dollars of signed sales exclusives,” Heiberger continued. “So far, all of the products are super prime, full-floor condominiums with price points starting at $5.4 million and climbing to over $40 million. Currently, we are hyper-focused on finishing the year as strong as we started, as we approach our three-year anniversary.”
ABOUT TOWN RESIDENTIAL:
Launched by Founder and CEO Andrew Heiberger in 2010, TOWN is a top-ranked fully integrated Manhattan real estate services firm specializing in luxury residential sales, rentals, and the marketing of new development sales and rentals. TOWN Residential, LLC is a partnership of Buttonwood Residential Brokerage, LLC and Thor Equities, LLC, a leading real estate development and investment firm. An integral part of the New York real estate landscape, TOWN has a team that exceeds 568 licensed professionals and staff, with the capacity for 630, in ten neighborhood offices: TOWN Greenwich Village, at 530 LaGuardia Place; TOWN SoHo, a landmarked corner storefront at 337 West Broadway dating to 1886; TOWN Upper East Side, a corner storefront at 239 East 79th Street and Second Avenue; TOWN West Village, a trophy office at 446 West 14th Street; TOWN Astor Place, a block-front space overlooking historic Astor Place in the Gwathmey Siegel-designed Sculpture for Living at 26 Astor Place; TOWN Fifth Avenue, located in the prestigious Crown Building at 730 Fifth Avenue at 57th Street; TOWN Flatiron, located at 110 Fifth Avenue and 16th Street; TOWN Financial District, located at 88 Greenwich Street; and TOWN Gramercy and the corporate team at TOWN Residential, both located at historic 33 Irving Place. For more information about these offices and TOWN Residential, visit: www.townrealestate.com.