New York City has always had one of the world’s most vibrant and important real estate markets as it has often been immune to the issues affecting the global real estate industry. The latest reports for November 2015 have been revealed by The Real Deal to show the markets across the entire New York City area have been growing over the course of the year. Although many people simply believe the real estate markets of new York City are based on Manhattan Island the number of options has grown for buyers and renters to include areas of Brooklyn and those surrounding the island.
Town Real Estate has been one of the driving forces behind the success of the New York City markets and the movement off Manhattan Island to find more available properties. When Andrew Heiberger founded Town Real Estate in 2010 the market on Manhattan Island was reaching breaking point through a small number of properties. The more than 250 agents employed by Heiberger over the course of the first year of operation allowed the company to be at the forefront of the movement towards the Brooklyn area that has grown in popularity.
Heiberger has seen Town Real Estate become one of the top real estate agencies in New York and now employs some of the top agents the city has. Town Real Estate does not limit itself to employing the most experienced agents in the city, but also provides a chance for the individuals who wish to break into the real estate market to have an opportunity to break into one of the world’s fastest moving real estate markets.
The movement of the people of New York City to other areas of the city other than Manhattan Island has been seen in the reports on the real estate markets. Brooklyn is seen in the reports to be a booming area for real estate developments, which includes more than $1.7 billion in revenue from multifamily homes. Around half of all new developments have been sold in Brooklyn and have driven up the value of the markets ion the borough.