Business Directory, Press Releases, Jobs, Products, Services, Articles
Businesses Articles Press Releases Follow @PRcom
Press Release Pricing | News by Category | News by Country | News by US Region | Recent News | News on Your Site

Press Releases

TOWN Residential

Press Release

Share      Blog

Receive press releases from TOWN Residential: By Email PDF Version RSS Feeds:

Affidavit, Exhibits Filed in Wendy Maitland V. TOWN Residential, LLC, Index 652802/2016

Affidavit and exhibits submitted in support firm's application for a temporary restraining order and motion for a preliminary injunction

Affidavit, Exhibits Filed in Wendy Maitland V. TOWN Residential, LLC, Index 652802/2016
New York, NY, August 19, 2016 --( TOWN Residential has filed an affidavit and 34 corresponding exhibits in support of the firm's application for a temporary restraining order and motion for a preliminary injunction. Specifically, TOWN seeks to prevent Wendy Maitland, the firm's former president of sales, from competing with the business of TOWN allegedly in violation of her 2014 agreement, performing actions that are detrimental to the business of TOWN; soliciting the firm's employees and customers, utilizing and disclosing confidential information of the firm's Representatives, as well as violating return of company property and disparaging the firm.

"Since our inception, TOWN has transacted close to $10 billion dollars while upholding the highest ethical standards and I will not tolerate having our integrity compromised by the disingenuous acts of one individual," said Andrew Heiberger, founder and CEO, TOWN Residential.

Allegedly, the affidavit outlines how Maitland "brazenly violated the parties' agreement" through well documented acts such as borrowing significant sums from subordinates, exploiting her position to obtain a personal residence, heavily recruiting within the TOWN ranks, and attempting to establish a new business unit with customers and trade secrets gleaned during her employ at TOWN, among others. Court documents can be viewed through:

"As of today, I have replaced previous counsel with Mark Landau and his team at Kaplan Landau. Mark is a seasoned professional and effective litigator known for bringing the truth to light. A trial date has been set for October 13, 2016," shared Heiberger. "With the exception of this outstanding matter, I am entirely focused on growing our business and providing the best in class service that our customers, clients and Representatives deserve."

Through the end of the second quarter, the firm successfully transacted more than $1.225 billion in total sales and leasing volume which is comprised of 593 sales transaction sides and 1,735 leasing transaction sides, representing a 9.6% increase in the total number of closed transactions over the same period last year. The data reflects New York City business only.

Among the completed are several notable transactions year to date including the successful sale of 50 properties over $5 million, with 15 of those transactions exceeding $10 million; as well as 97 luxury leasing transactions over $10,000/month, with 44 of those transactions exceeding $15,000/month, and 25 surpassing $20,000/month.

The firm's significant sales and leasing growth has been matched by innovative initiatives and transformative relationships including an unprecedented collaboration with South Florida's pre-eminent Fortune International Group, a strategic partnership with the industry leading data provider UrbanDigs, and expansion The Astor Room, the firm's industry-leading professional development platform, among many others.

The results exemplify TOWN's unique fully integrated luxury real estate platform and focus on: luxury residential sales; leasing; the marketing, sales and leasing of property developments; commercial and retail. Allegedly, contrary to claims made by Maitland, the affidavit supports that between 2014 and 2016, TOWN spent in excess of $11 million on marketing.

Allegedly: Maitland joined TOWN in August 2010 as the Managing Director of the flagship Flatiron office; as the firm grew, Maitland was appointed Managing Director of the firm's office located at 446 West 14th Street, Senior Managing Director of Sales of the firm's then four offices in 2013, and ultimately President of Sales in April 2014; throughout her tenure with the firm, Maitland earned a total of approximately $3.7 million, was provided with a car and driver, and was reimbursed for expenses in the amount of approximately $650,000; prior to joining TOWN, Maitland was an agent with Brown Harris Stevens.
Contact Information
Town Residential
Lori Levin

Click here to view the list of recent Press Releases from TOWN Residential
Promote Your Business