Despite the fact that the largest commercial real estate deals in New York typically happen in the Big Apple, other parts of the state are not so far behind.
When it comes to the New York City real estate market, there is no denying the fact that opportunities always exist. This holds true in many sectors, including both residential and commercial properties.
From New York to California and everywhere in between, the commercial real estate market is slowly picking up the pace. While things may not be moving forward as quickly as many would like, any positive change from the past will be welcomed by most.
The commercial real estate market in New York City never rests. There may be slow times, such as during the last recession, but most investors realize that things will pick back up sooner rather than later.
In large cities throughout the world, including New York City, commercial real estate is big business. While there is no denying the fact that many markets have struggled over the last few years due to the economic downturn, things are beginning to look up.
The fact that commercial real estate deals in New York City often reach hundreds of millions of dollars is no surprise at this point. With each passing year, real estate transactions in and around the Big Apple never cease to amaze.
In New York City, there are office buildings from one side of the area to the next. Within these buildings are companies of all sizes and industries. While rent can be high in the Big Apple, there is something to be said for having an office in the city that never sleeps.
When it comes to commercial real estate, many cities throughout the United States come to mind. These include, but are not limited to, New York City, Houston, Chicago and Miami.
Commercial real estate has a bright future in New York. What has traditionally been deemed a safe investment took a serious beating in the last recession; but since then it has seen steady growth as the national job market improves. As a matter of fact, a recent report by the National Realtors Association suggests that rents for commercial real estate are primed for growth for the remainder of 2013 and into 2014 as well.
Earlier this month, we wrote a blog post about a pair of copper apartment towers that could be constructed in New York City's Midtown East as early as 2016. We, along with many others, marveled at the architectural renderings for the towers, which looked unique and refreshing. The architectural renderings are a key piece for developers who are trying to complete a new project. The pictures convey beauty and promise, and it can lead to a community accepting the project; or vehemently fighting it.