Andrew Heiberger has been appointed the new CEO of Town Residential, succeeding the departing Joseph Sitt while the firm’s COO and President Jeff Appel was fired.
Sitt will stay on as Town’s co-chairman.
This marks a return to Town by Heiberger who co-founded the firm back in 2010 and previously served as its CEO until January of this year. But at that time Sitt, whose Thor Equities became a major investor in Town back in 2011, decided not to renew Heiberger’s contract. At the time Sitt complained that Heiberger had failed to achieve the financial goals that the two had set for Town.
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Now it seems that the two real estate giants have reached a rapprochement. They sent a co-written e mail to Town employees which sang Heiberger’s praises..
There was no reason given for Appel’s dismissal.
Andrew Heiberger is the Founder and Owner of TOWN Residential LLC, one of Manhattan’s leading full-service luxury real estate firms. He has founded and served as CEO of several successful companies, including Citi Habitats, one of Manhattan’s largest residential brokerages, and Buttonwood Development, a Manhattan-based real estate development firm.
As the Founder of TOWN Residential, he has been the driving force behind the company’s business strategy and long-term vision. Since launching in December 2010, TOWN has opened ten offices, housing a team of over 570 licensed representatives and staff. By providing both its clients and its representatives with exceptional service and a wealth of resources, TOWN is committed to redefining the way in which a real estate services company operates and delivers.
Heiberger holds a B.A. from the University of Michigan and a J.D. from the University of Miami School of Law. He is both a licensed attorney and a licensed Real Estate Broker in the State of New York. An active member of the Real Estate Board of New York (REBNY).
