New York City’s Real Estate Market Situation

New York City is known as the premier place to purchase real estate in because of the traditionally high demand from customers and real estate moguls alike. Not only are apartments, houses, and other personal living spaces popular, but large buildings intended for business purposes are popular as well. Much like other real estate markets in the world such as Miami, London, and Australia, NYC apartments for rent has experienced an all-time low in regards to apartment vacancies in over nine years. Fortunately, only the prices of luxury apartments have dropped, with lower-quality apartments not being affected nearly as much.

Town Residential, a real estate company primarily appealing to luxury customers, is doing everything they can to help bring the demand of housing in New York City. Town Residential is based in the heart of New York City, and was founded by Joseph Sitt and Andrew Heiberger in 2010. Town Residential has been named a member of the Top 50 Best Places to Work in New York City, a very difficult award to earn, considering that there are millions of people that live in New York City.

Luxury real estate bubbles have bursted in London and Australia, as referenced earlier, for no foreseen reason. The only trend is that these luxury real estate markets have fallen in a geographical order, starting with China, then Australia, then London, and then, unfortunately, the Big Apple.

Town Residential has listings from less than one million dollars to more than thirty million dollars. Not everybody can afford a million-dollar piece of property, but just about everyone who is looking to purchase a home or apartment in New York City will already know about the price barriers and have enough money. Town Residential is not focused in one central neighborhood like many other competitors are, as Town Resdiential has listings in more than fifteen boroughs and neighborhoods in Nefw York City.

The original article was published on Zero Source, a reliable source of up to date information regarding the New York City real estate market. The article is able to be found here http://www.zerohedge.com/news/2015-12-11/has-nyc-real-estate-peaked-manhattan-vacancies-hit-9-year-high.

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