The New York real estate markets have largely remained immune to problems affecting sales across the U.S. and the rest of the world, but the New York Daily News believes 2016 could be the year problems are encountered for the first time. 2016 could be the first year when long threatened interest rate rises finally arrive and make real estate deals much harder for professionals to close.
One company positioned in the perfect location to limit the effects of any slowdown is Town Residential, which has developed one of the top teams of professionals for both selling and renting properties across the different boroughs of New York. Town has not only looked to bring in established real estate professionals, but is also well known for bringing new real estate talent to the fast paced markets of New York.
One of the key parts of the business in the leadership of Town is the leadership of founder and CEO Andrew Heiberger, who has a long history of providing some of the highest quality real estate services in the city. Heiberger has led Town to become one of the most successful brokerages in New York in just a few short years.
Town should be able to avoid many of the issues facing the New York markets, including the longer period of time it will take for a buyer and seller to come to an agreement as buyers look for the best possible deal. Location will become more of an issue in the New York markets than ever before as the gentrification of certain neighborhoods will slow.
Despite the many issues problems the real estate professionals of New York will face the growing number of new rental buildings in Brooklyn will see the borough continue to see a sharp rise in interest. Finally, companies like Town with a long list of buyers interested in luxury properties priced at $10 million or more will see sales continue as more of these luxurious properties come onto the markets.