The Ever-Expanding Town Residential and New York’s Expanding Market

In an article by Daniel Geiger from Crain’s New York, he writes about the Town Residential brokerage firm. The company had opened up its 10th location in 2013. The ever-expanding real estate development group opened up its first location in 2010.

The location is along the Hudson River, and it has close access to Central Park. This area has been an important area for investors, who have recently been developing along this region with such properties as high-rise condos, or commercial space for artists. Town Residential has leased an entire floor of W. 14th St, and it has leased the location for fifteen years. The location also has a great access to the High Line, so it is an accessible access point for brokers who want to show properties, but who also want to be appealing to the time it takes to these properties. Along with close access to the High Line, the location is poised for high-end sales. The Chief Executive, Andrew Heiberger hopes that the location will also have its own distinct personal flair that he would like to be known for in New York.

Along with the location in the West Side, it also opened a location in Greenwich Village. Both locations have been opened to expand the locations in which Town Residential can expand its presence on the expanding New York City real estate market.

Town Residential was founded in 2010 by Andrew Heiberger, and it specializes in residential real estate in New York City. They have a partnership with a real estate development firm called Joseph Sitt’s Thor Equities, who are also the landlords to Town Residential W.14th street location. Also, Crain’s New York named Town Residential as one of the Top 50 Places to Work in New York City. In 2013, Town Residential purchased Thomas & Ingram, which helped Town Residential boost its presence in the West Village, because that is where Thomas & Ingram had its main focus on sales.

Andrew Heiberger is also the founder of Citi Habitats, which is a brokerage firm that has a focus on rentals, but he sold it to NRT, which is the largest brokerage firm in the United States.



Info on Wasseem Boraie

The modern, educated man is concerned about the economy. This concern stretches to both the national economy as well as the local economy. Unfortunately, people sometimes overlook the importance of the local economy. But the nation is compromised of several regions, each of which has its’ own local economy that needs to be prosperous and bring jobs and widen the market on its’ own. Cities that have a successful university or a few major pieces of real estate a more likely to have flourishing small businesses and wealthy citizens. So, when a real estate giant such as Wasseem Boraie brings his projects to Newark, as has been reported in this article, it is an exciting time.

Several Projects
If a local economy is going to be enhanced, it is not enough for there to be one large project. One large project is more vulnerable to failure than several smaller projects. After all, if something happens, such as a financial collapse or a natural disaster that compromises that one business, then everything that the city was hangings its’ hopes on will collapse with it. So, argues Boraie, it is far more important for the city to concern itself with several smaller projects. That is why he is currently involved in at least ten real estate development projects.

Why Newark?
Individuals who are educated in real estate know where to invest their business. Since Boraie wants to develop a 168 unit residential high-rise, he thinks that the location is everything. Residential consumers are not going to come to a big city for a single project. However, Newark would be more receptive to this sort of project. That is why he chose it for this particular project. This will help to enhance the local economy and bring jobs to Newark.

About Wasseem Boraie
Mr. Boraie is a very successful real estate developer, managing the company Boraie Development. His company reportedly has an annual revenue of anywhere between 10 to 20 million dollars. Cities become excited when he wants to build something there, because what he invests his company in will usually become successful. So, he leaves cities in a better state than he finds them.

Boraie Development does more than just develop real estate. They provide other services related to the industry, such as sales and marketing, and more. They have a great reputation with their clients.

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