The Manhattan and Brooklyn real estate business is doing much better than anyone would have expected years ago. The area is growing at a magnificent rate, attracting attention from locals and internationals. The most expensive resale home costs for a one bedroom in the Manhattan area is around $3,339. The Brooklyn borough average highest cost is a bit lower at around $545, 139. StreetEasy, a data gathering firm predicts that this trend will continue for some time to come. Renting in Manhattan has become very expensive. Because of the high costs of living in the area the affordability of the housing in the area has become a concern.
When apartments and house cost are higher than the average from the previous years, they are considered luxury. Today one in five homes in NYC apartments for rent borough are classified as luxury. Real estate in this region grew by 9.5%. within the last few years. Growth that occurs this quickly is extraordinary. The growth in Brooklyn is rising also, however it’s at a slower, more gradual rate.
Due to overcrowding and high rent many home buyers are starting to consider the area above 110th Street in Manhattan. Also the East and South Brooklyn regions are becoming more alluring.
Town Residential is a real estate firm whose expertise lies in sales, marketing and leasing. It is a team of individuals that hold years of experience. With unsurpassed knowledge of all the surrounding boroughs, real estate, and property development Town Residential is who a home buyer can depend on.
Town Residential was established in the year 2010 by Andrew Heiberger and Joseph Sitt. Having a plan to lead the area in excellence and professionalism, the firm has done just that for many years. Marketing through online avenues, press and other means, the firm has been a beacon for many wishing to relocate.