TOWN IN THE NEWS

TOWN Residential Continues to Lead the Industry with Record Transactions and Full Transparency

Our Town, July 9, 2016



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 second quarter, the firm successfully transacted more than $1.225 billion in total sales and leasing volume. This total is comprised of 593 sales transaction sides and 1,735 leasing transaction sides, representing a 9.6% increase in the total number of closed transactions over the same period last year. The data reflects New York City business only.

Among the completed are several notable transactions, year to date:

• TOWN Residential successfully transacted 50 properties over $5 million, with 13 of those transactions exceeding $10 million, and 5 surpassing $20 million

• TOWN Residential completed 97 rental transactions over $10,000/month, with 44 of those transactions exceeding $15,000/month, and 25 surpassing $20,000/month 

The firm is currently representing 213 active sales exclusives totaling more than $731 million, as well as 312 of the city’s top luxury rental exclusives.

TOWN New Development is considered by the City’s leading developers as the prime high-end sales and marketing partner. With design-forward and record breaking projects among their many credits, the team is expertly leading the sales and marketing efforts for 212 Fifth Avenue, a conversion of a prewar masterpiece that will undoubtedly become Downtown’s most coveted address; Brooklyn’s newly launched 159 Thompkins and 280 Saint Marks Avenue which achieved over 70% sold in the first few months; 52 Wooster a boutique luxury condo project in Soho; and Circa, Upper West Side's most stunning new addition designed by FXFowle.

TOWN New Development’s upcoming projects include two high profile Upper West Side projects that will total an estimated 50 prime homes; 126 unit corner project at 300 West 122nd Street; new estimated 60 story 303 East 44th Street; a large scale 49 story condo tower in the East 40s; a newly constructed boutique condominium on East 81 Street on the Upper East Side, as well as a large prewar conversion project in a most coveted location in Brooklyn. 

Town Marketing & Leasing has over 2,000 apartments in active lease-up, maintenance and consulting. The group recently achieved the highest rental price per square foot in a non-doorman building above 59th Street at the fully leased Allen House; leased 172 Montague in just 90 days; in just over 7 months successfully leased over 96% of 20 Exchange's new 221 unit inventory.

TOWN Commercial has successfully completed transactions in office leasing, retail leasing and investment sales – expertly representing tenants, landlords, buyers and sellers alike. In just 18 months, the team has grown to almost 20 agents, and has successfully closed approximately $1.5 billion in deal volume.

In 2015, TOWN Residential successfully transacted more than $2.7 billion in total sales and leasing volume – surpassing 2014 record totals and marking a more than 30% boost over the same time last year. Within the year, the firm completed over 1,150 sales transaction sides, and over 3,200 leasing transaction sides with an average price of approximately $2,000,000 and $5,000 respectively.

Among the many achievements in 2015:

• 10 transactions surpassing $20 million – including a $54.75M transaction

• Citywide records and Manhattan’s highest third-quarter sale with the $37.9 million penthouse closing at The Charles

• TOWN Residential took the number three ranking among Manhattan’s rental elite as ranked by The Real Deal

The firm’s growth has been strategic and exciting. Among the five year highlights:

• More than $8.5 billion in total sales and leasing volume

• Over 15,750 transactions made up of more than 3,800 sales and nearly 12,000 rentals 

• Successful sale of 50 trophy penthouses 

• Sale of more than 175 townhouses, with over 80 in Brooklyn alone

About TOWN Residential - www.townresidential.com 
Founded 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 more than 550 Representatives and professionals strategically located in seven prime offices. TOWN Residential specializes in luxury residential sales; leasing; the marketing, sales and leasing of property developments; commercial and retail.


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