There Could Be A Potent Combination A Booming Commercial Real Estate Market In New York If They Paired With Town Residential
A recent review of New York City luxury real estate market reports by the website know as the Real Deal revealed some very interesting information about commercial and residential real estate for the burrows of Brooklyn and the expensive burrow of Manhattan. The commercial data for the burrows of Manhattan and Brooklyn were especially interesting in the article which can be found here. There was also some interesting data under the commercial category for New York City in its entirety. There was a 97% jump in the dollar volume from August to September. This can likely be attributed to the the myriad of multifamily sales. The total of multi-family sales totaled approximately $1.7 billion. This is an insane amount of money, which goes to show the growing value of real estate market and its reach in New York.
Office leasing has also been huge business in New York as of late, and the numbers the Real Deal has been reporting on New York City commercial real estate would blow most normal people’s concept of money and expenses into orbit. Almost 22 million square feet of business space was leased during a good portion of the year up until this fall. Manhattan’s vacancy rate was steady at 8.9 percent in quarter 3, and the standard asking rent rose to about $71 for every square foot. It is safe to say retail and other forms of commercial real estate are making a huge comeback in New York City financially.
Town Residential’s real estate management and consultant firms are more than able to help interpret, act as mediators and even handle the sales themselves. The knowledge this firm possesses for both residential and commercial transactions can’t be matched. They take a hand-on approach no matter what pricing structure the client uses in order to ensure satisfaction to all of their clients. The members of the firm who happen to assist in transactions have no equals in the field of real estate transactions, and their knowledge is truly unmatched.
Town Residential has used a winning formula combined with a unique approach used by its expert employees in residential transactions, but they have also learned to adapt and formulate a style for commercial transactions. The formula for the commercial transactions is just as impressive as the firms residential transaction. There has always been a great deal of care give to transaction whether they are commercial or residential.