Real Estate Weekly
Image default

TOWN enters Miami market

TOWN Residential is expanding into Florida.

The New York brokerage, co-owned by Joe Sitt and Andrew Heiberger, has partnered with South Florida’s Fortune International Group to deliver its services in the Sunshine State.

For its part, Fortune will be able to extend its reach into the New York market via the partnership.
“In the most genuine and literal sense, we are opening our doors to one another. We are allocating real resources to this endeavor,” said Heiberger.

“Through a presence in each other’s offices, networking events large and small, and partner marketing, we will provide our representatives and clients with unprecedented access to our important gateway cities.

Andrew Heiberger
Andrew Heiberger

“Our integration plan is innovative and unique and will set new standards for other strategic partnerships in the future. We look forward to the transparent reporting of our joint success.”
Heiberger called the alliance a “first of its kind,” whereby a streamlined operations strategy, led together by Heiberger, president of sales Wendy Maitland and Fortune International Group CEO and founder Edgardo Defortuna and vice president of International Division Fernando de Nunez, will “legitimately and effectively extend business reach for each firm in the partner’s gateway market.”

Combined, the two firms will have more than 1,650 associates in New York City and Miami – cities consistently ranking among the most popular destinations for today’s affluent luxury home buyers.
Last year, TOWN Residential completed $2 billion in total sales and leasing volume – successfully closing 1,148 sales and 3,775 leasing transactions. It has ten offices located around the city.

Fortune International has 1,000 local agents and a reach that extends to Europe, Latin America and Asia. The combined Fortune companies have completed $4 billion in sales per year, over the last three years, according to a press release announcing the partnership.

“This represents an important milestone in our company’s evolution,” said Defortuna. “ Real estate is all about collaboration and team work, but most certainly real estate is based on local knowledge and expertise. We can now provide an unparalleled platform to our clients, by offering the very best in the New York City market, combined with Fortune’s Miami knowhow.”

Through a shared marketing, communications and social media platform plus integration of databases and websites, the firms will engage in real time connectivity on multiple levels.

Ambassador events will be held rotating throughout the two luxury markets, providing representatives with opportunities to forge meaningful relationships and become intimately familiar with the local inventory and trends.

Each firm will have a satellite office within the other’s office with associates encouraged to seek dual licensing.

“We have seen countless luxury buyers entering the market through Miami. Today’s Manhattan broker must be well versed and knowledgeable about our global gateway markets to properly serve their customers and clientele,” Heiberger said.

“The Astor Room, our industry acclaimed professional development platform, will provide Representatives with an in-depth introduction to the alliance as well as an opportunity to learn more about the Miami marketplace.”

Among other members participating in the alliance are Shlomi Reuveni, managing director, TOWN New Development and Anna Zarro, senior vice president, TOWN Marketing alongside Fortune’s team led by Eduardo Imery, executive vice president and CFO; Andres Asion, vice president of sales and Andrea Greenberg, vice president of marketing.

Related posts

Denholtz Properties Acquires 214-Unit, Luxury Community in Hudson County, N.J.


Pacific Urban Investors Expands Southern California Portfolio with Acquisition of La ScalaStrengthening Presence in Highly Desirable San Diego Submarket


KeyBank Secures $20.3 Million of Financing for Multifamily Housing Property in Anchorage, AK.