A 2016 Outlook on NYC Real Estate

Town Residential, New York’s leading luxury real estate firm. The firm manages to providing a solid foundation with great execution as well as having excellent customer service. Their team of quality professionals are known to provide latest industry knowledge and their expertise to meet customer expectations. At the centre of the firms culture lies the winning formula to their many success’s in the industry. They have had many awards presented to them including top 50 best places to work in New York and best firm to work for.

The executive leadership at Town Residential is made up of Andrew Heiberger, Wendy Maitland, Itzy Garay and Joseph J.Sitt. In the sales department there is Ari Lefauve, Juliet Clapp, Melissa True, Ryan Fitzpatrick, Dorothy Sexton, Karen Gastiaburo, Julia Miller, Gary Lacy and Danielle Hamburger. The firm has used strategic positioning and a pro-active approach to media to provide for excellent coverage within the separate sectors, these are broadcast outlets, community and local, trade, consumer business and luxury and lifestyle. Town Residential has several offices in some of the most vibrant parts of New York. These are 33 Irving Place, 88 Greenwich Street, 110 Fifth Avenue and 26 Astor Place.

Those interested in luxury real estate might find these predictions for 2016 interesting which were found in an article posted by the New York Daily News. Below is a summary of these 8 predictions.

1. Interest rates are on the rise but prices will drop resulting in weaker buyer confidence.
2. Deals will be harder to close due to several variables.
3. Longer decision making by buyers.
4. Distance between unrealistic and realistic sellers will increase.
5. Focus will be on prime locations throughout New York.
6. The baby boomers continue to be a force within the buying market.
7. Temptations are high for those Brooklyn buyers looking at new rental buildings as they are offering great incentives.
8. The luxury condos within Manhattan continue to grow in number as many more hit the market. The entry level luxury market on the other hand has seen few available buildings but are in demand.

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