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    September 22, 2022

    NYC Diversifies Real Estate Projects Across the Metro Area

    New York City is known for its elegant towers and its iconic skyline of office buildings and apartments. After the pandemic, NYC was a leader in exploring solutions to repurpose office buildings following the shift to remote work. Now, the city is leading the way in making space for the life sciences industry and other unique industries looking to expand their footprint

    What’s New?

    The NYBC’s center for life sciences is taking shape on Manhattan’s Upper East Side with a total footprint of 600,000 square feet and an investment of $1 billion through 2026. The move came in part by the city’s effort to entice Life Science companies and ensure NYC becomes a hub.

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    Radson Development is developing a mixed-use development in midtown Manhattan. The project will include hotel rooms, affordable housing, as well as retail and commercial space. The project went up in 2017 and is expected to be completed by the end of the year. 

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    Charney Companies and Tavros Capital have combined to purchase 18,000 square feet for $68.3 Million. The apartment condos will be placed at 24-19 Jackson Avenue, which will rise 55 stories and contain roughly 600 apartments. The timeline for completion has not been released yet. 

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    Manhattan continues to add to the portfolio of affordable housing units. The Hudson Companies just got greenlighted for the Lirio, an affordable housing building that will contain 112 income restricted apartments, 30,000 square feet of office space and 9,000 square feet of retail space on the ground floor.

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    Tag(s): New York Digest

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