Don't see images? Click Here SUBSCRIBE FOR FREE MANAGE EMAIL PREFERENCES
Bisnow - (Almost) Never Boring
January 4, 2021

8 Major NYC Projects Set To Deliver In 2021

After a year of upheaval for the New York City real estate market prompted by the coronavirus pandemic, some long-awaited projects are set to be delivered in 2021.

The year started with a major delivery: the Moynihan Train Hall — the 255K SF, $1.6B Penn Station expansion project developed by Vornado, Related Cos. and Skanska — which opened on New Year’s Day.

From Central Park Tower along Billionaire's Row to the 100% affordable Caton Flats development in Flatbush to a 350K SF community center attached to New York City's oldest church, here are eight major development projects with completion dates in 2021 that will change neighborhoods and skylines across the city this year.

Central Park Tower

8 Major NYC Projects Set To Deliver In 2021

Developer: Extell DevelopmentAddress: 217 West 57th St.Size: 1.3M SFReaching above its supertall neighbors, Extell’s Central Park Tower, also known as the Nordstrom Tower, towers over Billionaire's Row at 1,550 feet tall.It has been open to move-ins since last year while construction is being completed. The building, which has 179 units across 131…

Read the full story here.

  Share:  
 
Perforation

Top Stories on Bisnow.com

CRE's Next Generation: Radco VP Lisa Hurd Is Pushing For More Women In CRE Finance CRE's Next Generation: Radco VP Lisa Hurd Is Pushing For More Women In CRE Finance
RentPath Nixes CoStar's $588M Acquisition Amid FTC Scrutiny RentPath Nixes CoStar's $588M Acquisition Amid FTC Scrutiny
Kushner Cos. To Sell $100M In Bonds On Tel Aviv Stock Exchange Kushner Cos. To Sell $100M In Bonds On Tel Aviv Stock Exchange
Ashford Hospitality On The Brink Of Bankruptcy Ashford Hospitality On The Brink Of Bankruptcy
Perforation

Brookfield Asset Management Looks To Take CRE Subsidiary Private

Brookfield Asset Management Looks To Take CRE Subsidiary Private

One of the world's biggest money managers wants to take its commercial real estate business off the public market.Brookfield Asset Management is seeking, along with its institutional partners, to purchase all shares of subsidiary Brookfield Property Partners that it doesn't…

Read the full story here.

  Share:  
 
Perforation

CRE Executives Make Their 2021 Predictions For The Industry

As the commercial real estate industry finally puts 2020 in the rearview mirror, the path forward in 2021 is far from certain — and largely dependent on how the country extricates itself from the past year's trials.

A new president has been elected, but the incumbent has refused to acknowledge defeat and promise a peaceful transition of power. Two vaccines for the coronavirus are being distributed, but the prospect of the U.S. population achieving herd immunity is months away at best and uncertain to ever happen at worst.

Still, real estate is a forward-looking industry, and those who make their bets early and decisively will likely wind up the biggest winners of an economic recovery. With that in mind, Bisnow asked experts and executives from across the industry a series of questions to get a sense of the transitional year to come.

Read the full story here.

 
Perforation

In Case You Missed It...

Trump Pardons Charles Kushner Trump Pardons Charles Kushner
In 2020, The Pandemic Kicked NYC Landlords When They Were Already Down In 2020, The Pandemic Kicked NYC Landlords When They Were Already Down
Aby Rosen Could Lose Control Of The Ritzy Gramercy Park Hotel Aby Rosen Could Lose Control Of The Ritzy Gramercy Park Hotel
This Week's N.Y. Deal Sheet This Week's N.Y. Deal Sheet
Cantor Fitzgerald Looks To Buy Real Estate Brokerage With Latest SPAC Cantor Fitzgerald Looks To Buy Real Estate Brokerage With Latest SPAC
 
Perforation

Problems Remain, But International Investors Think Brexit Clarity Will Boost London Prices

On 1 January 2021, the UK left the European Union with a trade agreement in place. After almost four years of uncertainty, there is now a much clearer picture of what the UK’s post-Brexit relationship with the EU will look like.

That uncertainty is widely regarded as having depressed London and UK real estate prices and volumes, with yields in London now higher than in rival European cities like ParisBerlin and Munich, an inversion of the historical norm.

Bisnow canvassed a group of international property investors about the impact of a Brexit trade deal being reached, and while some uncertainty remains, there was a general view that prices for the best assets in the UK capital and beyond should rise to converge with those European peers. The impact of COVID-19 is still to play out in full, and riskier assets could see prices continue to fall, but with one of the key factors niggling global investors removed, London will perform relatively well in the coming months and years, the investors said. Here is how they see it. 

Read the full story here.

 
Perforation

LA-Based Fund Aims To Raise $1B For Investments In Black And Brown Neighborhoods

Los Angeles investment fund manager and housing developer Martin Muoto is planning to raise $1B to invest in Black communities and communities of color in major urban markets.

After the summer, companies and investors across all sectors of commercial real estate — and the financial institutions that fund them — pledged billions to close the racial wealth gap and work to undo the financial legacies of systemic racism. Muoto, who is Black, said that there has been a tremendous focus on the problems of racism, and he believes people want to focus on possible solutions.

“We said, ‘OK, let's give these firms a conduit to actually do what the PR and the lip service says,’” Muoto told Bisnow.

Read the full story here.

 
 
 
       
 
You are receiving this email because you are either a member of the Bisnow community, have attended a Bisnow event, because you have a legitimate interest in real estate news and events because of your profession, or because of your business associations, memberships or partnerships.
 
This email was sent to: newsletter.archives@bisnow.com
 
   
 
123 William St, Suite 1505, New York NY 10038
Newsletter Approval Code: 44915