The Real Deal New York

Town Residential’s Jason Karadus jumps to BHS

Broker formerly led sales at Upper East Side new development the Charles

July 25, 2016 02:01PM
By Katherine Clarke

From left: Hall Willkie, Jason Karadus, Andrew Heiberger and Joseph Sitt

From left: Hall Willkie, Jason Karadus, Andrew Heiberger and Joseph Sitt

Jason Karadus, one of Town Residential’s top-producing brokers, has left the firm amid speculation about a change in the company’s ownership.

Karadus, who led sales at record-breaking new development the Charles on the Upper East Side, has moved to Brown Harris Stevens, where he will work out of the company’s office at 130 Fifth Avenue.

“I have nothing but good things to say about Town,” Karadus told TRD of his departure. “I just had to leave for my own reasons.”

Karadus and former colleague Ginger Brokaw headed sales at the Charles, a project led by BlueRock Real Estate, before Town TRData LogoTINY was replaced by Elliman as exclusive sales agent earlier this year. The pair brokered a series of record deals at the First Avenue development, including the bulk sale of five penthouses for $58.6 million to hedge funder Larry Robbins and his family.

Karadus’ move comes as speculation mounts over a deal for Town founder Andrew Heiberger to buy partner Joseph Sitt of Thor Equities out of his 50 percent stake in the brokerage. The transaction would finally bring to an end a troubled partnership that saw the partners file dueling lawsuits over the firm’s finances in 2014.

In recent weeks, Heiberger has watched from the sidelines as Sitt, who’s been controlling the company’s finances, battled in court with Wendy Maitland, the company’s former president of sales. Maitland claimed that Sitt had starved the company of resources.

Terry Naini, another top producer, left at the same time as Karadus — also to Brown Harris Stevens.

“Jason and Terry were hardworking and knowledgeable and are always welcome back to Town,” Heiberger said in a statement.

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