The New York City real estate market is always one of the strongest and best is changing markets in the world. While 2016 has been a very strong you’re already, the fourth quarter of the year is likely to be just as strong as several major projects are either being announced or nearing completion.
One major project that will continue to be in the news is One Vanderbilt, a major 1,500 foot tall project. The project will have over 1.6 million square feet and has already seen some significant leasing activity. The most significant lease signed was to TD Ameritrade who will be signing a 200,000 square foot lease. The project is still in the early stages of development that has slowed things a bit, but the news of TD Ameritrade will surely help things pick up.
Many rumors are outstanding about the project located at 28 Liberty Ave. the project has already started going through the rezoning process which makes it believed that a major redevelopment or construction will take place in the next few years. This will likely include the addition of new office, hotel, and residential space.
Another major project that is coming to New York City is a redevelopment of the cities transportation system. While completion is more than five years away the 2nd Ave., Street subway line will be expanded several miles. This project will cost $4.5 billion in total but will provide a significant amount of convenience to those using the public transportation system. It is also expected that it will help to relieve congestion in other areas.
If you are looking for NYC apartments for rent a great place to start would be working with the professionals at Town Residential. Town Residential is a young boutique real estate firm that provides a number of different services to property owners, buyers, and potential tenants. When you are looking for NYC apartments for rent, the company will be able to provide you with the most current listings available and will help you to make the most informed decision possible.