Real estate projects in New York City to look out for

Real estate projects in New York City to look out for

In January 8, 2018
Real-estate-projects-New-York-City-to-look-out-for

Real estate experts suggest that New Yorkers can expect large building projects in NYC, specially in the boroughs in the coming few years. Then there are those projects – commercial and residential – that need special attention for different reasons such as design, architecture, increased sales and more. According to plans filed with the city’s Department of Buildings, the majority of the largest development projects started in 2017 are located in Brooklyn and Queens. Here’s a list of new large building projects across NYC:

Staten Island Matrix Development Group

546 Gulf Avenue, Staten Island Matrix Development Group is planning a 2.3 million-square-foot commercial manufacturing building in the Bloomfield section of Staten Island. While in November, Brookfield Property Partners filed plans for a 59-story, 1.75-million-square-foot office tower at 401 West 31st Street.

Source: https://therealdeal.com/2017/12/29/the-10-biggest-new-real-estate-projects-of-2017/

21-story residential building

Brooklyn Kushner Companies, along with CIM Group and LIVWRK, are planning to build a 21-story residential building at 85 Jay Street and so is TF Cornerstone, most likely, a 776,624-square-foot residential building in Long Island City.

Source: https://therealdeal.com/2017/12/29/the-10-biggest-new-real-estate-projects-of-2017/

Here’s a list of other large building projects:

  • A 19-story apartment building in East Harlem by the Richman Group.
  • Affordable housing developer Phipps Houses is building a 400-plus unit residential project in the Cypress Hills section of East New York.
  • With an initial plan of building the tallest residential tower in Brooklyn, JEMB Realty is now creating a 36-storey office tower in the same spot – 420 Albee Square.

Source: https://therealdeal.com/2017/12/29/the-10-biggest-new-real-estate-projects-of-2017/

Ambitious development and infrastructure projects at the World Trade Center site

According to Business Insider, 7 billion dollar mega-projects are underway to transform the city in a big way by 2035.The most prominent and anticipated among the sites, is the World Trade Center site. Since the redevelopment work began on the 9/11-attack site, three tall towers, a memorial museum, a mall and a park have been completed. Two more towers, a church and a performing arts center are being constructed and will be finished by 2020.

Source: https://www.businessinsider.in/7-billion-dollar-mega-projects-that-will-transform-New-York-City-by-2035/Essex-Crossing/slideshow/56464843.cms

Essex Crossing at Manhattan Lower East Side

The 1.1 billion dollar development project will include 1000 apartments for low, moderate and middle-income residents, a Regal movie theatre, a new street market, a bowling alley and a cultural space. The construction of Essex Crossing began in 2015 and is slated to be complete by 2024.

Source: https://www.businessinsider.in/7-billion-dollar-mega-projects-that-will-transform-New-York-City-by-2035/Hudson-Yards/slideshow/56464841.cms

Cornell Tech Campus

An estimated $ 2 billion project, the Ivy League university located in Ithaca, New York, is building a new campus that will dominate NYC’s Roosevelt Island. The campus that will house dorms, offices, classrooms, restaurants and a hotel will be spread across 2 million square feet and will reach completion in 2035.

Source: https://www.businessinsider.in/7-billion-dollar-mega-projects-that-will-transform-New-York-City-by-2035/Hudson-Yards/slideshow/56464841.cms

High tower at 53W53

The New York Post reported the making of a building that was sure to add glitz with its star quality design and architecture, thanks to Jean Nouvel and Thierry Despont, respectively.
While three floors of the high tower will be dedicated to MoMA exhibition gallery, the other 138 units will house offices and business houses. The building will be completed this year.

Source: https://nypost.com/2015/04/16/20-must-know-residential-developments-hitting-nyc-this-season/

Neighborhoods to watch out for

Like every year, Street Easy released a list of neighborhoods to watch out for this year. The top spot goes to West Harlem owing to its growth in sales and