The Business of Town Residential

Town Residential, the fast-growing residential brokerage firm, has announced the opening of an office within the meatpacking district, this has been the 10th Manhattan outpost for the firm since it had opened three years ago. The new location has brought with it easier access to an important part of the residential neighborhoods around the Hudson, as well as a good helping of sexiness along with it. The company leased the entire second floor at 446 W. 14th St., this location having 7,100 square-foot space, which is a 15 year deal. The new space provided a 16-foot ceiling as well as access to a private roof deck at the top of the three-story building, this helps to exemplify the flair that Mr. Heiberger has shown while building the Town brand, that has been positioned as a brokerage in high-end sales. The new space has also been designed in order to appeal to brokers. Mr.Heiberger has stated that the boutique brokerage of Thomas Ingram, who focuses on sales deals within the West Village, is going to be joining Town Residential and will be moving to the new branch in the meatpacking-district. He will also be relocating to a smaller office space that is operated by Town at 45 Horatio St. in West Village. The area surrounding the new office, that sits at one of the main entrances of the High Line, has now become the epicenter to one of the city’s hottest residential neighborhoods, and is an area that has continued to grow with the building of more condo’s that have been springing up around the park. In the past few months, Town has been opening other high profile locations, this includes the headquarters on the ground floor at 33 Irving Place that is just east of Union Square, and in the Greenwich Village at 530 LaGuardia Place. It was not disclosed by Mr. Heiberger what the rents would be on the new deal located at 446 W. 14th St., but the office spaces in the meatpacking district are well into the $90s per square foot as well as beyond as it has grown and became increasingly popular as a commercial district for both retailers and tenants. Thor Equities, who is the landlord for the building of Town’s parent investor, and is one of the largest owners for retail space within the city. Heiberger said that his relationship with Thor was the key that has allowed him to secure space for other eager tenants.