Itzy Garay checks out of Town

Exec's departure follows appointment of Jacqueline Pestana as COO

TRD New York /
Aug.August 05, 2016 03:52 PM

Itzy Garay is the latest top gun to leave Town Residential.

Garay, the company’s executive vice president of sales and leasing, had been a part of the firm’s core management team since its inception in 2010. She was previously a manager at rental giant Citi Habitats, the brokerage formerly owned by Town founder Andrew Heiberger before he started Town.

She headed up the company’s Astor Place office and oversaw the firm’s sales and leasing managers.

Her departure follows the news that Heiberger bought equity partner Joe Sitt of Thor Equities TRData LogoTINY out of his stake in the company last month.  Earlier this week, Jacqueline Pestana, the company’s director of operations, was also appointed COO, a newly created position.

Itzy informed me just yesterday that she no longer wanted to be the office manager at Astor Place and wanted to explore other career opportunities. I wish her all the best and only continued success and happiness,” Heiberger told The Real Deal. 

In a statement, Garay called Town an “extraordinary company” and said there were no hard feelings between her and Heiberger. She said she plans to take the rest of the summer off before finding a new position.

Garay’s exit follows the departure of several other key agents and managers at the company, including Wendy Maitland, who sued the firm over claims that Sitt had deprived it of financial resources. That suit is still pending. Other recent defections include that of Judi Lederer, who went to Douglas Elliman, and Jason Karadus and Ginger Brokaw, who went to Brown Harris Stevens.

In her new position, Pestana, a former executive assistant who worked her way up on the operations side at Town, will oversee the day-to-day operations at Town, including human resources, legal, listings, facilities, accounting and IT.

Related Articles


Gladstone, Heiberger settle $100M libel suit

WATCH: Andrew Heiberger on Town’s downfall, how traditional brokerage is being “disrupted” … & more

Hardhats show their softer side, Heiberger opens up, and top brokers and developers come to terms with the new market: Highlights from TRD forum

“It was definitely the last option”: Heiberger breaks down Town’s downfall at TRD forum

Don’t miss TRD’s exclusive 1-on-1 with Andrew Heiberger at our New York event

Town Residential’s real estate predicament: Few agents but four offices

WATCH: TRD discusses Town’s downfall and what comes next

High commission costs, competitive recruiting led to Town’s downfall: Heiberger