Real Estate News for New York Business, 2016 Year-End and 2017
Real Estate News for New York Business, 2016 Year-End and 2017
Real Estate News
Real Estate News for New York Business, 2016 Year-End and 2017 is a selection of special interest reports from a variety of publications.
Links are provided to original content.
2016 Another Banner Year for Commercial Real Estate
By CoStar News Staff
By Kathryn Brenzel
Wherever you go in Hudson Yards, it seems as if the cacophony of construction follows you. It’s no surprise then that the area is home to the year’s biggest upcoming development projects.
The Real Deal compiled a list of the largest buildings planned for New York City, ranking projects filed with the Department of Buildings in 2016. For the complete story link HERE.
Office leasing market had its slowest year in seven years
Political and economic uncertainty forced prospective tenants to hold off on committing to space
January 4, 2017
By Daniel Geiger
The city’s office leasing market had its slowest year in the past seven years in the face of political and economic uncertainty, according to The Wall Street Journal.
Roughly 27.3 million square feet of office space was leased during the year, the lowest level of activity since the depths of the last recession in 2009, when 24.4 million square feet was taken by tenants.
Tenants have held off on committing to office space as the business environment has become less certain after a contentious election cycle and global events like Brexit, The Journal said. For the complete story link HERE.
Towering over 2017
Brooklyn and Queens projects beat Manhattan mega developments to the punch among the biggest planned projects of the new year
January 01, 2017 By Mark Maurer
While Hudson Yards and Essex Crossing continue to inch forward in Manhattan, it’s the booming outer boroughs that will see many of the most ambitious real estate projects realized in the year ahead.
The two tallest residential buildings in all of Brooklyn are among 2017’s upcoming megaproject milestones. Collectively, the 10 largest ground-up real estate construction projects slated for completion in 2017 span more than 7 million square feet… For the complete story link HERE.
7 big things that could happen to NYC real estate in 2017
By Steve Cuozzo December 26, 2016
Hope springs eternal in frigid January, as developers and brokers get back on the job after long holidays away. Here are some of our own hopes for the new year at locations the real estate industry will also be watching closely. For the complete story link HERE.
BY: REBECCA BAIRD-REMBA 4:00 PM ON JANUARY 2, 2017
The long-planned Hudson Yards neighborhood is finally becoming a reality on the Far West Side of Manhattan. Developer Related Companies has filed plans for another gigantic office building, 50 Hudson Yards, at 415 10th Avenue.
The new building applications call for a 12-story, 256-foot-tall commercial development spanning 887,600 square feet. There would be retail on the subcellars and first two floors, followed by 10 stories of office space. For the complete story link HERE.
7 billion-dollar mega-projects that will transform New York City by 2035
By Leanna Garfield
New York City has a number of ambitious development and infrastructure projects underway.
Manhattan’s most recent transportation upgrade came in the form of the glistening, $4.5 billion Second Avenue subway line, which opened on January 1.
On the other side of the island, Hudson Yards — the most expensive real estate development in American history — is under construction. And on an island in the East River, Cornell University is building a glassy tech campus with classrooms, a hotel, restaurants, and shops for future graduate students. By the middle of this century, the city will look different, and will likely attract even more new residents and tourists than today.
From Manhattan to Brooklyn, here is a look at some of the most substantial projects set to be completed in the next two decades. For the complete story link HERE.
ABOUT COGENT REALTY ADVISORS
Cogent Realty Advisors is an independent and licensed NO FEE Realtor with over 15 years of experience representing businesses that lease New York office space. Our goal is to secure the right office for your business at the right price. For information, phone Mitchell Waldman at (212) 509-4049.
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