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NY Real Estate Expo
NYC Professionals Discuss Manhattan & NYC Metro Real Estate
I attended the 10th annual NY Real Estate Expo at the New York Hilton last week. The event was well attended by hundreds of real estate, development and financial professionals from the NYC and metro area. Anthony Kazazis, Director of the event, had organized a series of panels to discuss key aspects affecting the real estate market ranging from software platforms, to financing, to NYC real estate market assessments.
Generally the mood was upbeat, but not without some concern about the future, given changes in the tax laws, foreign interest in NYC investment, interest rates forecasts and technological challenges facing the industry. But, I thought, that is why everyone is here. To find out what's going on so they can navigate the market changes - rather than be surprised by them.
While I had intended to stay only a short while, I found the topics and panelists too interesting to leave, so I stayed most of the day. I started with a discussion of a new information technology platform called Blockchain, which is intended to serve as an information clearing house, and it includes some artificial intelligence capability. I then found my way into a discussion about New York City versus Silicon Valley with respect to attracting large technology companies like Amazon, Facebook and Google. And I ended my visit after listening in on a discussion by NYC and metro area realtors discuss the residential real estate market in Manhattan and outer boroughs.
Sound like an interesting NYC real estate conference? It was. In the photo above you can see the audience at the well attended panel discussions at the NY Real Estate Expo this year.
I'll have more on this later in the week.
Update: LaGuardia Airport Development Project
First Phase Moving Along with Second & Third Phases About to Begin
I attended a Community Board One meeting at the Astoria World Manor on Wednesday, April 19th. People representing the LaGuardia Airport development project were scheduled to provide the community with an update regarding several of the multi-billion dollar renovation projects associated with LaGuardia Airport, that are either currently in the works or nearing the end of the planning process.
The presentation was split into three parts: 1) LaGuardia Airport development project construction updates, 2) traffic mitigation efforts and 3) community outreach including job opportunities related to the projects.
Click here to read our report on the LaGuardia Airport development project & expansion, related job opportunities, its possible impact on travel times to the airport and the public hearing details on May 3rd, 2017 in Flushing. We have also included a small bit of history about the airport and the fight over the property and development in Flushing Meadows Corona Park. The graphic at right was created as part of the LaGuardia Airport development project.
BALCONY - Business And Labor Coalition NY
Forum Discusses Challenges & Opportunities Of De Blasio's Affordable Housing Plan
One day after Mayor de Blasio gave his State of the City Address, the Business And Labor Coalition of New York [aka BALCONY] met to discuss affordable housing and their role in it.
A high quality panel of speakers had been enlisted to help stimulate the discussion which happened on an early Wednesday morning in February. The panelists included a real estate lobbyist, a unionized labor representative who oversees the management of labor pension investments, Public Advocate Letitia James, a representative from the Governor's Office and others. The BALCONY forum attracted a full house of real estate, financial and labor professionals, as well as government officials.
By the end of the morning I had heard how a number of large and important participant groups were processing Mayor de Blasio's plan to address NYC's affordable housing shortage. We'll have more a bit later this week about this informative housing forum.
New York Boat Show @ Javits Center
Full Steam Ahead For Boat & Yacht Dealers & Manufacturers
For the price of a small apartment in Manhattan you can buy yourself a floating power palace with about the same amount of space, and water views on all sides.
It was my first venture into the New York Boat Show on Sunday at the Jacob Javits Center in Midtown West. There were about 400 boats and yachts on display [364 was the unoffical count] for those looking to buy, trade or just look at the state of the art in boating technology and comfort.
Again unofficially - using one of the dealer's gate count numbers - it seems attendance was up a bit this year versus last year. They surmised that the lower gas prices, the better economy and apparently a few folks were looking to replace what had been damaged or that they'd lost to Hurricane Sandy. And so it was ... show on.
Later this week I'll post a photo slide show of the event and take you onto a few of the boats and yachts so you can see what owning or riding on one of these floating palaces would look like. Ship Ahoy.
Hudson Yards Real Estate Development NYC
Manhattan Real Estate: West Midtown Undergoing Massive Transformation
I spent a fair bit of time surveying the construction projects underway in west Midtown Manhattan this weekend. I went to see for myself what was going on in the area just adjacent [kiddy corner south and east] to the Jacob Javits Center which is located on 11th Avenue and 31st Street.
The deals were cut during the Bloomberg Administration with two real estate development companies - the Related Companies of NYC and Canadian partner Oxford Properties of Toronto, Ontario. The negotations took about five years and involved the MTA leasing the airspace above their track space - the Hudson Yards.
Most of the development will reside atop a huge platform covering the yards, but the building in the photo to your right - the first of the development to come online - has been erected ajacent to the yards on terra firma.
Click here later this week to read more about the Hudson Yards real estate development in NYC, including numerous photos in a slide show.
New York Market Expo
Marketing Your NYC Business In The 21st Century
On May 29th I attended the New York Market Expo at the Metropolitan Pavilion at 125 West 18th Street in the Chelsea neighborhood of Manhattan. There were dozens of vendors there to help small businesses with their sales and marketing efforts.
It seems the online media has moved front and center at this expo with a multitude of vendors generally representing national firms offering a variety of online services. Many of the large social media firms sponsored slide show presentations showing how their offerings differed from the others.
There were also a number of other organizations there, including the traditional media, as well as a number of government and non-profit business organizations whose missions are to help businesses in their endeavors. The Manhattan Chamber of Commerce is shown in the photo to your right. The Manhattan Chamber of Commerce is a very active sponsor of networking events, seminars and workshops in NYC.
We'll post more including a photo slide show of the New York Market Expo of 2014.
NYC Manhattan Real Estate & Realtors
Manhattan Real Estate & Realtors
December 28, 2013 /Manhattan Real Estate / Gotham Buzz NYC _ D.
Real estate in Manhattan was been 'on the rise again' in 2013 with prices rising as the economy gained ground and the super low interest rates made payments on high priced properties possible.
Interest rates began to rise in 2013 as the year wore on and are expected to continue rising in 2014 and beyond. But not too fast say the pundits as the U.S. and world economies are fragile and the central bankers do not want to upend the recovery.
This section will begin to be populated with stories about condos and co-ops in Manhattan NYC, as well as stories about apartment rentals in NYC.
How The Other Half Lives
I attended a reception hosted by TF Cornerstone in late September to celebrate the official opening of their fifth property. The building had been completed earlier this year and the first tenants had moved in sometime in May. I understand they've rented about 70% of the units, so they've been moving briskly.
I visited a couple of the units for rent, including a studio that started at about $2,300 per month and a two bedroom corner that likely rented for something like $5,000 per month [give or take several hundred]. To those of us who live in Queens, these are expensive units, but to those who live in Manhattan - given the views and amenities - these are good value. Like the headline says : )
The photo to your right shows a view of one of the new properties currently lining the LIC waterfront, with a northward looking view of Manhattan.
Stringer Conditionally Approves Midtown East Development
September 12, 2013 / Manhattan Real Estate / Gotham Buzz NYC _ D.
We attended the Community Board 6 Meeting in Manhattan on Wednesday following the election and heard the announcement that outgoing Manhattan Borough President Scott Stringer had conditionally approved the large scale development in the eastern section of Midtown Manhattan.
Stringer noted that the new developments would put significant stress on existing infrastructure and must be addressed as part of the plan.
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