The Real Deal New York

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

By Jhila Farzaneh | April 23, 2018 05:00PM

Last week, The Real Deal’s E.B. Solomont and Hiten Samtani broke the news of Town Residential’s decision to close its sales and leasing divisions, which followed months of speculation the firm was struggling financially. In a LinkedIn post this weekend, Town CEO Andrew Heiberger blamed the cost of commissions and a competitive recruiting environment for the brokerage’s inability to stay afloat.

Though the dust continues to clear, questions about the future of the firm’s operations and what will happen to its agents — as well as their exclusives — still remain. Solomont and Samtani met in TRD Studio today to discuss Town’s demise and what’s next for the brokerage.