TOWN Residential has Helped Diversify NYC’s Real Estate Market

Posted in Business Growth on Sep 15, 2015

The real estate market in New York City is known around the world as one of the most valuable real estate markets on the face of Earth. The large number of inhabitants in New York City have helped grow the size of the real estate market, but the demand of people wanting to live in New York City is never ending, unlike the vast majority of areas on the market.

NYC luxury real estate market has attracted a certain niche of investors, but Chinese real estate moguls have never really been involved in NYC’s real estate. The value of property in New York City is considered excessively overvalued by some, but the lack of running out of demand ensures that homes and apartments in New York City will nearly always sell.

TOWN Residential is a real estate firm operating out of New York City, who specializes in luxury real estate pieces. Price range from around a million to upwards of thirty million dollars. TOWN has received many awards and accolades from well-known entities, including one of the Top 50 Best Places to Work in New York City, and is a Best Firm to Work For. TOWN Residential has also been involved with helping New York City’s luxury real estate market become more appealing to Chinese investors.

China is the largest country in the world, and its investors are responsible for lots of capital. Having Chinese investors generally interested in New York City real estate is ideal for New York City’s real estate market.

Chinese real estate investors have been focused on buying real estate properties outside of Manhattan, which is where most people tend to invest. Brooklyn and Harlem have generally not been thought of areas of New York City that one would want to invest, especially with the sheer cost of property in New York City in today’s real estate market, but Chinese investors have been able to make good investments of real estate in Brooklyn and Harlem, overall.

Mr. Andrew Heiberger, the Chief Executive Officer of TOWN Residential, estimates that the majority of Chinese real estate purchasers are armed to spend between eight hundred thousand and two million dollars. These sums are significant by anyone’s means, even by the most prominent investors.

Many economists, financial analysts, and other real estate experts expect New York City’s real estate market to keep growing in value for the foreseeable future.

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