According the Zero Hedge, vacancies in the Manhattan area have hit the highest record in almost a decade. According to the Bloomberg reports, residencies have gone from 2.31 percent in 2014 to 2.87 percent in 2015. Meanwhile, apartment rentals climbed 3.9 percent within the last year even though leasing prices have increased to more than 18 percent since 2009. According to Miller Samuel Inc., it’s not the circumstances behind the skyrocketing rents that have changed but rather the acceptance and affordability of it.
One of the most well-known luxury firms in the Manhattan area is Town Residential. It was created in 2010 by the firm’s CEO, Andrew Heiberger. Town Residential specializes in both mortgaging and leasing plus marketing and selling properties.
Town Residential has also been named one of the Top 50 Best Places to Work in New York City Luxury Real estate. They hired only the best and most experienced of employees in order to maintain their knowledge as unsurpassable to their competition. They are also known for their hand-craft approach to their sales and leasing techniques. They also make it a point to advertise themselves online as well as through print material as long as the latter is still in existence. They cover the nine most dynamic neighborhoods in the Manhattan area such as the Financial District off Greenwich Street and Astor Place.