Analysis of Town Residential and the Healthy New York Real Estate Sector

Latest reports on the New York real estate scene indicate that about half of new development inventory in Brooklyn has been sold. In its report of November 2015, Halstead Property Development Marketing posited that there were only 550 apartments remaining. Additionally, the multifamily dollar volume rose to $1.7 billion within the month of September. This story was originally reported on The Real Deal.

According to a November 2015 report on residential absorption by Brown Harris Stevens, the absorption rate in Manhattan fell to 4.1 in November. Midtown and Midtown East witnessed the sharpest absorption decline. In its Manhattan Luxury Contracts report, Olshan Reality contended that between November 9th and 15th, there were seventy contracts for luxury apartments priced at $4 million and above in Manhattan. This happened in the first half of the month marking the strongest start in the month of November since 2006.

In its September report on multifamily sales, Ariel Property Advisors noted that multifamily sales in New York City went close to $1.7 billion. The sales recorded in the month of September indicate a 97% jump compared to the previous month of August.

According to a Q3 2015 Retail Leasing Report by Cushman & Wakefield, the asking rents soared on the Lower Fifth Avenue especially between 42nd and 49th street. The area witnessed the strongest growth over the third quarter with asking rents rising to 14.3% with a square foot going for $1,244. Additionally, during the initial three quarters of the year, office space of close to 22 million square feet was leased out. The Manhattan vacancy rate was 8.9% with the asking rent rising to $71.02 per a square foot.

New York City continues to register a strong property development environment with the luxury end properties on the rise. The demand for luxury apartments has also continued to rise with major players like Town Residential doing a wonderful job in catering for this market. Town Residential is a premier luxury real estate player in New York that was established in 2010. Andrew Heiberger and Joseph Sitt founded the corporation.

Town Residential’s expertise lies in luxury residential leasing, marketing, sales and property development. The best in class hallmark service offered by Town Residential has set new standards in the real estate industry. At the center of the firm’s culture is a team of experts with outstanding industry knowledge. This knowledge has made Town Residential successful in terms of offering innovative service to its clients.

Coriant & Shaygan: The Innovative Leaders

Innovation is to bring forth a product, service, or an idea that has not been around yet. To do this right you must combine insight of what will be needed by customers in the near future and the ability to put resources together to flesh it out in the real world. People and companies that focus on serving their customers with relevant resources find innovation comes easier; it is putting first things first as they say. The company Coriant is known for innovation; Shaygan Kheradpir is also known for this. Perhaps this is why Coriant brought him on board to work with them.

Shaygan has developed himself into a proven innovative leader. He has acquired the knowledge by completing Bachelor, Master, and Doctoral degrees in electrical engineering. His trail is sprinkled with new ideas, programs, teams, and services that companies are still benefiting from today. This started with his first job at GTE where the Wall Street Journal noted him for being respected because he delivered new products on schedule.

He was the first CIO/CTO at Verizon, which are being the Chief Information Officer & Chief Technology Officer. While there he developed teams of people that came up with new ideas that could be tested quickly. During his time at Barclay’s he became the first person who was a technology executive to sit on the executive team.

Coriant is a company that has clearly established itself as an innovative leader in their industry. They are international network solution organization that has customers in over 100 countries now. They are always on the cutting edge of providing relevant products and services for these customers with over 1800 patents on their innovations. Coriant had been working with Shaygan on a project; he was familiar with the company’s culture, goals and strategies, so it made sense to bring him on board full time.

The marriage per se of these two innovators, Shaygan and Coriant, should make their customers very satisfied in the years to come. As of September 2014 he is now the Chief Executive Officer and Chairman of the Board. His focus will be developing new solutions that matter the most to their users around the world.

Andy Wirth Explains Squaw Valley Gondola Plan


The Lake Tahoe region has been seeing a major level of investment and redevelopment over recent months, with Squaw Valley Ski Resort at the heart of many of the most recently announced development plans. Powder Magazine has reported Squaw Valley CEO Andy Wirth has been explaining the the benefits and background to the gondola plan that will link Squaw Valley to the Alpine Meadows Ski Resort.

Andy Wirth has been involved in the move towards linking the two historic ski resorts in the Lake Tahoe region since his arrival in the area in 2010. Soon after the arrival of Wirth a deal was struck to add Alpine Meadows to the assets of Squaw Valley Holdings; rumors have circulated since Squaw Valley took control of Alpine Meadows concerning a proposed gondola link. The gondola plan may have been unveiled earlier had Wirth not suffered a life threatening injury during a skydiving accident, which almost cost the CEO his life.

Since returning to his position after the injury Andy Wirth has been pushing on with his plans to improve the experience visitors to Lake Tahoe have. One of the major areas he has looked to improve the economy and lifestyle experience is in the ease of travel to the region, amongst the changes Wirth has tried to implement is in the local airport system and the number of available planes.

The gondola plan has long been rumored because of the close proximity of the two resorts, which are separated by a small ridge. The major problems for Squaw Valley and Andy Wirth included the fact that the land between the two resorts was owned by a private individual and the U.S. Forestry Service. Troy Caldwell, who owns the private land, has now come to an agreement with Andy Wirth to allow the three stage gondola plan to be constructed on his property. The final problem facing the plan is now gaining approval from the U.S. Forestry Service for the gondola to pass over their land.