Big real estate deals coming to New York

New York City has some of the most expensive real estate in the world, so there is no surprise that developers are trying to create new buildings to put on market. A recent article at The Real Deal website highlighted ten of the largest project permits filed in September and the projects are overall significant. The majority of the jobs take place in Manhattan but both Brooklyn and Bronx have construction pending, as does even Staten Island. The Brooklyn real estate market remains hot and profitable which is leading to much needed construction in the borough for NYC apartments for sale.

The really big construction remains in Manhattan however with a permit being filed for One Vanderbilt which is located by Grand Central in the heart of midtown. The property is being developed by the publicly traded REIT SL Green and the permit filed comes two years after the project was first announced. The building will have two floors of retail and the rest office space and will 67 floors tall with over 1 million square feet of space.

In Staten Island at 140 Friendship Lane, developers are building an extension to a medical facility that will allow for over 160 additional units and have a recreational facility open for residents. The site is owned by the Douglaston Development Brielle senior living facility.

Regardless if you are looking to buy an apartment in an existing or newly constructed apartment it is important for you to have the right real estate agent representing you, particularly with so much new construction coming on the market that is little known. Town Residential is one of premier real estate firms in New York City and this local presence greatly adds to their understanding of new construction, the special amenities that these units have, as well as any restrictions they have on selling units. Contact Town Residential for any of your questions regarding real estate in the New York City area and find your home.

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