From the January issue: Andrew Heiberger is the founder and CEO of the Manhattan-based residential brokerage Town Residential, which he launched in 2010. He sold his previous company, Citi Habitats, to competitor NRT Incorporated for $49.6 million in 2004. Before starting Town, Heiberger was a developer with the boutique firm Buttonwood Real Estate and converted such buildings as 88 Greenwich Street, a 37-story office tower in the Financial District, and One Rector Park, a 174-unit rental property in Battery Park City, into condominiums.
Heiberger recently bought his former partner, Joseph Sitt of Thor Equities, out of his stake in Town for an undisclosed sum, making Heiberger the sole owner of the approximately 500-agent company. The two had a long, contentious relationship marked by dueling lawsuits over the company’s finances. [more]