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TOWN announces plan to restructure Manhattan footprint

TOWN Residential has announced plans to restructure its Manhattan footprint.

The brokerage  – which has grown from 99 agents from its founding in 2011 to 633 today – will merge two auxiliary locations with flagship offices.


Stressing the move is one of  “efficiencies to continue to position TOWN to flourish in any climate,”  CEO Andrew Heibeger told Real Estate Weekly, “While we could rest on the laurels of our proven foundation and successes, we don’t.

“My role as CEO and chief strategist is to keep TOWN focused and position the firm for continued success while constantly evolving and refining ourselves to ensure the delivery of best-in-class service to our representatives, clients and customers.”

In the coming weeks, 446 West 14th Street will be joining TOWN Flatiron, the firm’s more than 16,000 s/f flagship office located at 110 Fifth Avenue; and 530 LaGuardia Place will join TOWN Astor Place, a block-storefront space overlooking Astor Place in the Gwathmey Siegel-designed  26 Astor Place.

The firm will maintain its position among the industry’s largest downtown footprints and the team of professionals will remain intact, said Heiberger.

The CEO said TOWN staff had been notified of the restructuring, which he called  “part of TOWN’s 2016 business plan and thoughtfully conceived long-term strategy.”

This year, TOWN has transacted more than $2.7 billion in total sales and leasing volume – surpassing 2014 record totals and marking a more than 30 percent boost over the same time last year, according to the company.


Shlomi Reuveni who joined the company to lead its New Development division in 2013,  said he has signed more business with the firm than at any time over his 30 year career.

“The success of TOWN New Development … is the direct result of a powerful platform, smart planning, hands-on leadership, and unrivaled professionalism and creativity,” said Reuveni.

And Wendy Maitland, president of sales, said the latest moves are a reflection of TOWN’s  “adherence to the authentic, unique collaborative culture that we have created, by design, and is the harbinger of exciting, positive growth ahead as we head into 2016 stronger than ever, as a company and as a brand.”




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