Brokers and analysts in the real estate industry debated how the New York City market performed in the year 2015 at NYC Real Estate Expo event. Additionally, they forecasted the conditions they expect going into 2016 and the factors that may yield otherwise results. According to a report released on The Real Deal, real estate in NYC Apartments for rent was dominated by favorable leasing environment. Senior brokers at the panel noted that the performance in 2014 was strong, 2015 very strong and they expect more of the same come 2016.
Although TAMI tenants are considered as the one driving NYC’s leasing economy, companies providing financial services are coming back in the city. In fact, the financial services industry comprises approximately 11 percent of the entire work force in the city. Majority of brokers shared similar views that robust pricing was experienced through 2015, and the same performance is still expected to prevail in the first half of 2016. NYC’s real estate cycle is already operating at its peak where investors have to work very hard in order to find value.
Indeed, NYC is considered to have a lot of wonderful attributes to entrepreneurs across the world. Many panelists expressed their feeling that hurdles like interest rates are potential obstacles to the sector although the Federal Reserve has been working on a way to address the issue. Majority of the panelists agreed that the sector has performed very well through 2015 and they are expecting the same in 2016.
About TOWN Residential
TOWN Residential is a leading firm in New York offering luxury real estate services. The firm was co-founded by Andrew Heiberger and Joseph Sitt. TOWN Residential is an integral part of NY real estate industry that specializes in selling, leasing and marketing of luxury residential homes and apartments. The firm is recognized for providing new standard of excellence in across the real estate industry. TOWN Residential aim is to have a team of professionals who possess unmatched industry knowledge as well as experience.
These professionals are called TOWN Representatives and are highly talented to be able to bring a winning formula to TOWN Residential. In addition, the firm has won several accolades specifically in residential real estate field. The firm’s representatives are regarded as industry leaders who offer excellent services and expertise to their customers. TOWN Residential is the firm of your choice when planning to acquire a luxury residential in NYC.