Andrew Heiberger Shares Some Predictions for Manhattan Real Estate In 2012

2012 Predictions





Andrew Heiberger, Founder and CEO of Town Residential, shared some of his thoughts and predictions on the Manhattan real estate market for 2012. I think these points should be very helpful for buyers, sellers, investors and renters trying to navigate the Manhattan real estate market in the upcoming year.

 If I were renewing a lease right now I would try to extend for two years if given the choice

On the Manhattan Sales Front:

  • I believe that prices and price per foot in all parts of Tribeca, the far West Village, Noho, and west of Park Avenue on the Upper East Side will rise the most due to a lack of supply. The same is true for townhouses and other single family residences, where quality supply is also limited.
  • Overall I believe 2012 will see more sales transactions and slightly higher prices in Manhattan, with the market buoyed in part by interest rates remaining at historic lows during this upcoming election year.
  • People still have faith in home ownership, especially in Manhattan. Together with an abundance of international buyers as well as affluent buyers from around the United States, the demand has remained strong for Manhattan real estate.

New Development Sales Market:

  • I believe Gary Barnett’s One57 will be a grand slam and THE success story of 2012. Its success will also pave the way for other super-high end developments in and around the Plaza District to its east, including the much-anticipated development at the former Drake Hotel site.
  • On the Upper East Side above 57th Street there are at least six major luxury developments, both ground-up and conversions, expected to file offering plans in 2012. We expect prices for many of these properties to start at $2,500/sf and likely exceed $5,000/sf in some cases.
  • In Soho, the far west village, Noho, the Chelsea Highline area, and all parts of Tribeca, it will be the year of the boutique condominium. Many super high-end new construction projects and well-conceived conversions are proceeding and expected to come to market. I believe they will sell out very quickly with prices starting at $2,000/sf and ordinarily capping out at around $4,500/sf. In other parts of Manhattan such as Hudson Yards and the East 30’s to 50’s, it is more likely that we see most new developments built as rentals.

On the Manhattan Rental Front:

  • The vacancy rate will remain low, and rents are sure to rise starting around the 2nd quarter. If I were renewing a lease right now I would try to extend for two years if given the choice, because once employment numbers pick up rents will jump even further to record highs.
  • Low mortgage rates are keeping rents in check because the alternative of buying becomes feasible once you approach the $80/sf threshold for units under $1.5 million.

As the Manhattan real estate market is constantly changing, contact me if I can expand on these points. I also have many rentals available at varying budget levels on my listings page. Please feel free to give your comments below.

TOWN Concierge Restaurant Spotlight: Tsushima Midtown East








Image courtesy of


141 East 47th Street at Lexington Avenue

From the sidewalk, this unassuming Japanese eatery looks like any other sushi joint in Midtown, but inside, with a sleek interior, undulating ceiling, and seasonal menu, Tsushima proves to be a sharp cut above.

Ordering omakase is an ideal way to appreciate the chef’s artfulness

Traditional Edomae-style sushi is featured here, instead of the showy, super-sized Japanese-fusion rolls common to similar establishments, with prime selections of fresh fish that showcase the sushi chef’s knife skills. Ordering omakase is an ideal way to appreciate the chef’s artfulness and take the guesswork out of ordering, but plenty of a la carte options invite exploration, including a meltingly savory toro nigiri, and dense, flavorful yellowtail sashimi, along with seasonable delicacies like octopus, abalone, and sea urchin. Cooked entrees feature tender chicken teriyaki and a lightly battered vegetable tempura that delivers the right amount of tasty, flash-fried crunch.

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The TOWN Concierge is a complimentary service provided to all TOWN clients to make their real estate experience more pleasurable. Contact me for more information.

TOWN Concierge NY Restaurant Spotlight: Lexington Brass

Lexington Brass

Photo courtesy of Lexington Brass.








Lexington Brass
517 Lexington Avenue
American, Bar Scene, Spacious, Power Lunch, Sleek

Lexington Brass features top notch service and a simple menu of bistro favorites 

With their latest restaurant venture Lexington Brass, EMM Group breathes new life into the traditional midtown power lunch, abandoning the old school model of formal white tablecloths for a bustling, bistro-like experience better suited for the new wave of modern Manhattan diners. Stripped of pomp and circumstance, the Lexington Brass design is spacious but edgy, emoting an air of casual refinement. Full of plush seating and natural light, Lexington Brass features top notch service and a simple menu of bistro favorites that, for the weary traveler or overworked Manhattanite, will feel reminiscent of home. Unlike the blink-and-you-might-miss-it boites of lower Manhattan, Lexington Brass and its gleaming façade of floor-to-ceiling windows ushers in a new business backdrop where this generation of New York City minds and moguls break bread while breaking up the day, enjoying Lobster Mac n Cheese, Deviled Eggs, French Onion Soup, and Braised Short Ribs.

The TOWN Concierge is a complimentary service provided to all TOWN clients to make their real estate experience more pleasurable. Contact me for more information.


New Yorkers: Want An Endless Closet?

Virtual ClosetOne of the many advantages of working with TOWN is our ability to provide you with TOWN experts to solve common real estate concerns and storage has to be at the top of many Manhattanites list. Did you ever love an apartment you wanted to buy or rent only to decide against it because your wardrobe was greater than the closet space? Are you currently out of closet space, but don’t trust your clothing to your building’s basement or other storage facilities? Now there is a great alternative that gives you fast access to your clothing, is affordable, frees up apartment space and stores your items safely.

With Garde Robe, you no longer have to dream about endless closet space or pass on that almost perfect apartment due to storage concerns. Garde Robe is a service that provides climate-controlled storage and maintenance for your off-season and/or infrequently worn clothing, shoes, evening wear, furs and accessories.

You don’t even need to lift a finger! Garde Robe representatives will come to your home to pack and collect the off-season items that you are not wearing regularly. Unlike standard storage companies, Garde Robe provides 24/7 visual access to every item and provides same-day delivery and pick up service.

Every item is inspected, cleaned and repaired, if necessary, and then photographed with a description. You have visual access to every item in your “virtual closet” 24/7. Pick-up and delivery is even included in your monthly membership which is about $350 per month for 50 items (a suit, for instance is one item and many accessories are included such as shoes).

Garde Robe is trusted by many of the city’s elite including celebrities such as Ivanka Trump, and utilized by fashion designers such as Oscar De La Renta. The storage facility is very secure and climate controlled.

Garde Robe also provides other services such as luggage-free travel. Please feel free to contact me and I can provide more information on this needed and innovative service.

TOWN Concierge NY Restaurant Spotlight: The Seahorse Tavern








303 East 85th Street at Second Avenue

dishes using the freshest locally sourced seafood, create wonderfully inspired takes 

The Seahorse Tavern is bourne out of the life-long passions of neighborhood locals, who wanted to bring the cuisine they love—”comfort seafood”—to the people they love—family, friends, and, of course, neighbors. Their personal touches can be tasted on the menu; dishes using the freshest locally sourced seafood, create wonderfully inspired takes and many New England classics, such as fried oysters, Peeky-toe crab dip, and lobster rolls. The personal touches flourish as well with the decor; the bar and wainscotting are built from planks from the original Coney Island boardwalk, the lights and sconces were salvaged from big ships, the mirrors and artwork are antiques, and their signature seahorse is by Hamptons artist Drew Madden. The Seahorse Tavern hopes that its history with, knowledge of, and commitment to both comfort seafood and comforting patrons will draw in neighbors, old and new, and curious and hungry visitors for a long time.

 The TOWN Concierge is a complimentary service provided to all TOWN clients to make their real estate experience more pleasurable. Contact me for more information.

TOWN Concierge NY Restaurant Spotlight: The Leopard

The Leopard NY






The Leopard
1 West 67th Street near Central Park West
Italian | Hot Spot | Ambience | Notable

The Food is Southern Italian, with a focus on Sicily, Sardinia, Campania, Basilicata, Calabria and Apulia

On the bones of the historic Café des Artistes, which first opened in 1917 and finally shuttered in August 2009, Il Gattopardo owners Gianfranco and Paula Sorrentino are opening The Leopard at Des Artistes. A preview cocktail party for the neighborhood drew MOMA director Glenn D. Lowry and artist Leroy Neiman. The Food is Southern Italian, with a focus on Sicily, Sardinia, Campania, Basilicata, Calabria and Apulia. Though the Howard Chandler Christy murals are restored and still on the walls, the dark traditional room has been lightened and updated. Terrazzo and walnut floors have replaced carpeting, while the ceilings have been raised and the dining room and bar expanded.

The TOWN Concierge is a complimentary service provided to all TOWN clients to make their real estate experience more pleasurable. Contact me for more information.


Luxury Chelsea Condo For Sale

High floor, luxury, studio CONDO with all the amenities. Views of downtown NYC and Hudson River from this high floor, South facing apartment. It features a spacious layout with a kitchen that includes GE stainless steel refrigerator, range, microwave and dishwasher. Steps from Chelsea Piers, Meatpacking District, The Highline Park, Gallery District and Hudson River Park. Building is also investor friendly.


  • 24 Hour Doorman
  • Concierge
  • 2,000 Sqft Fitness Center
  • 4,000 Sqft Club Lounge
  • 10,000 Sqft Landscaped Terrace
  • VIP Valet
  • On-Site Parking
  • Central Laundry
  • Pets Allowed

Property Details


  • Location: Chelsea
  • Minimum Down: 10%
  • Monthly Maintenance/CC: $405
  • Monthly Real Estate Tax: $250
  • Studio | 1 Bath
  • Square Feet: 480 (approx)
[srp_profile lat=”40.7464911″ lng=”-74.00135799999998″ address=”West 23rd Street” city=”New York” state=”NY” zip_code=”10011″]



Contact me for a showing.

TOWN Concierge NY Restaurant Spotlight: Yakitori Totto

Yakitori Totto





Yakitori Totto
251 West 55th Street between Broadway and 8th Avenue
Poultry Dishes| Late-Night Dining | Hot Spot |Private Space

the menu extends beyond chicken kebabs, with noodles and soups, tofu skewers in a dark miso sauce, and a smattering of seafood.

Although yakitori means “grilled chicken” (usually on a stick), the time-honored working-class Japanese food that is the featured dish at this second-floor Midtown restaurant is taken beyond its usual place as street fare with the restaurant’s use of premium chicken. Seated at the bar or at a row of small tables in one of two dining rooms, the predominantly Japanese crowd favors its grilling done in the traditional manner (i.e., not cooked all the way through). If rare poultry makes you nervous and you don’t want to look like a timid American by ordering it well done, the menu extends beyond chicken kebabs, with noodles and soups, tofu skewers in a dark miso sauce, and a smattering of seafood. Most dishes seem designed for accompanying drinks, especially sojou and sake, which, for their part, can make negotiating the steep one-flight staircase down to the street something of an adventure as well. — Ethan Wolff

The TOWN Concierge is a complimentary service provided to all TOWN clients to make their real estate experience more pleasurable. Contact me for more information.

Full River Views: New, Luxury Rental in Lincoln Square

The ultimate in luxury living. Best one bedroom line in the building. Enjoy idyllic river views from every window in this mint condition, Lincoln Square rental. Walk-in closet in bedroom. Open kitchen with d/w, stainless steel appliances. Bathroom features a deep soaking tub and separate shower stall.

Building Features:

  • 75’ indoor pool,
  • Spa
  • 38’ rock climbing wall
  • Full court basketball
  • Squash courts
  • Bowling alley
  • Club Lounge
  • Yoga
  • Pilates and
  • Kinesis rooms
  • Kidville NY children’s room
  • Elevator
  • 24 hr.Doorman
  • Concierge
  • On-site parking
  • Courtyard
  • Laundry
  • Much more

Property Details


  • Location: Lincoln Square
  • 1 Bed | 1 Bath
  • Square Feet: 820 (approx)
  • Date Available: 15-Aug-2011
[srp_profile lat=”40.796055″ lng=”-73.97452499999997″ address=”Riverside Boulevard” city=”New York” state=”NY” zip_code=”10012″]



Contact me now for a showing.

Why I Chose Town Residential And Why You Should, Too

Town Residential Real EstateIn NY there are a multitude of real estate brokerages for agents and clients to choose. For both agents and clients, there are many factors to consider. Most companies emphasize what they can do for the agent, but less so what they can allow you to do for the client.

TOWN is different. Everything at TOWN is focused on making the clients’ and agents’ experiences pleasurable. Care extends to both the agent AND the client. 

Everything at TOWN is focused on making the clients’ and agents’ experiences pleasurable

There are more well-known firms than the relatively new TOWN. But Only TOWN has all of the qualities I believe are necessary when evaluating brokerages which elevates it over other Manhattan brokers for me and for the buyers, landlords, renters, investors and sellers that I service.

My criteria is the following (not necessarily in this order):

  • Respected, experienced management with deep industry connections 
  • Client-focused orientation
  • Strong emphasis on education/expertise
  • Convenient office locations
  • Technological superiority
  • Integrity, accountability and responsiveness

Experienced Management with Deep Industry Connections

Many real estate brokerages are led by very successful sales agents, but lack the well-rounded experience, management skills, deep industry connections and resources that can benefit buyers, sellers, renters, landlords, investors and agents.

TOWN is led by Andrew Heiberger who started his real estate career at 16. He is both a licensed attorney and a licensed Real Estate Broker in the State of New York. He founded the number one real estate rental firm in Manhattan, Citi Habitats, as well as founding the Buttonwood Development firm. At TOWN, he recruited an executive team of real estate veterans with expertise in different areas (luxury, rentals, marketing, development and beyond) that provide a network of industry experts for agents and clients that have unparalleled knowledge of the industry.

Another example is Paula Busch who previously served as Senior Managing Director at another leading NYC brokerage firm where she spent many years of her career and was responsible for catapulting sales in two high-profile East Side office locations. She most recently oversaw a team of approximately 350 agents, many of whom were ranked in the Top 1/2 Percent of real estate agents in the country by the Wall Street Journal. There are many more examples.

Even the most experienced agents need help at times and a strong network to navigate the intricacies and complications that sometimes arise in NY real estate. Well-rounded, experienced management with strong industry connections results in a memorable, better experience for all.

Client-Focused Emphasis

Most brokerages talk a lot about what they can do for the agent, but often it seems little or even no thought is given to the client which is seen as a transaction. TOWN strongly embodies a positive experience for both the agent and the client.  Consider the TOWN CONCIERGE service that they provide for all clients. The TOWN CONCIERGE, available to all clients, regardless of transaction price, provides arrangements for basically any need the client has. Need a hotel while previewing apartments? A ride?  Need a pet-sitter or child care? A restaurant reservation? Housekeeping services? The TOWN CONCIERGE will take care of the arrangements with no fee for the service. NY real estate can be stressful enough. TOWN uniquely understands this. It’s not just about properties, but the real people behind the real estate.

As one recent client wrote me:

“I will not forget your precious and incredible help!! I will recommend you to all of my clients. I felt totally secure which means you did the best!!

Technology alone cannot do that. Client-focused makes a difference.

Strong Emphasis On Education and Expertise

TOWN’s emphasis is on truly providing expert, real estate agents to its clients. The real estate industry and neighborhoods are constantly evolving, especially in New York. Whether someone has been in the business for 3 weeks or 30 years, there is always more to know. TOWN is committed to providing its agents with top experts that consistently provide knowledge of the latest legislation, investment, financing, neighborhood and real estate information. A more informed agent translates to a faster, better and more profitable experience for buyers, sellers, landlords, investors, renters and agents.

Convenient Locations For Clients

Some brokerages are simply not convenient for clients. Some have one office and some are primarily virtual offices. TOWN, in about seven months, already has four convenient, beautiful offices located throughout the city. This may not seem like an important consideration unless you or your buyer needs to sign papers or needs a meeting with various agency personnel. Strategically located, comfortable locations means a better real estate experience for all. Our offices are better than Starbucks. I guarantee it.

Technological Superiority

While TOWN realizes that real estate largely involves personal interaction, negotiation and the expertise that only a human can provide, it has made, and is making, sizable investments to provide the latest technology to its agents and clients to give them an edge in transactions. Some examples include technologically advanced offices, A VOW, fantastic, client conference facilities and the development of its proprietary listings database TOWNHOUSE with advanced search, reporting, marketing, social media and alert features.

TOWNHOUSE gives agents and clients access to all REBNY listings as well as in-house exclusives. If you’ve ever tried to search for real estate in NY and found it a confusing and frustrating experience wrought with “it just rented or sold”, you know how important this is. Better technology means less time spent, less frustration and better transactions.

Integrity, Accountability and Responsiveness

Brokers are often fairly and unfairly criticized for being less than honorable. Like every industry, there are honorable people and those that lack integrity. Everything I’ve witnessed at TOWN from the initial contact forward has been only people and principles that reflect honesty, high character, respect, responsiveness and class. TOWN preaches, teaches and practices ethical conduct like no other company I have experienced.

If you think all brokers and agents are the same, contact me and give me the chance to prove that there is a difference. Even if you don’t choose me, choose TOWN. I did. I guarantee that you’ll thank me that you did, too.