Passive House Construction Can Help NYC Developers Save on Emissions Costs

Recently, New York City passed the Climate Mobilization Act bill as a way to counter climate change. If passed into law, the bill’s foundation would require buildings that are larger than 25,000 square feet to cut climate emissions by 40 percent by 2030 and by more than 80 percent by 2050. The legislation also requires certain buildings to cover roofs with plants, solar panels, small wind turbines or a combination of those elements. Rent-regulated housing, as well as structures of worship, …

Savvy Retailers ‘Recalibrate’ in New York City

Manhattan has long been one of the most competitive retail markets in the country due to two characteristics of its population: an incredible density and high incomes among residents and workers. The Bureau of Labor Statistics reported that the average weekly wage of Manhattan’s private sector workforce was $3,153 in the first quarter of 2019, much higher than the national average of $1,184 per week. In addition to its residential base, tourism plays a strong role in Manhattan’s retail …

American Dream Ushers in Retail, Entertainment Growth in Northern New Jersey

Across the Hudson River, retailers and residents in Northern New Jersey benefit from lower rents and lower sales prices relative to Manhattan. In addition, mass transit lines that cross the river enable mixed-use destinations that offer dining and entertainment experiences, including the new American Dream project, to function as day-trip destinations for residents and tourists. “Northern New Jersey is still a strong tenant’s market,” says John Azarian, co-founder and CEO of New …

Selling Affordability is Crucial in Metro Boston

With a pressing demand for new housing in the Boston area and communities struggling to provide affordable options to mitigate the effect of rising prices, the barriers to providing new affordable multifamily properties remain significant. Here in the Boston region, the scale of the problem is immense. Boston’s Metropolitan Area Planning Council recently declared a need for 185,000 new units of housing over next 10 or so years in the 15 cities and towns that comprise the inner core of the …

Office Landlords in Northeast Offer an Array of Amenities to Attract Tenants

In the largest office markets of the Northeast, landlords are competing to attract valuable corporate tenants by providing the highest quality work-life balance for the region’s talented workforce. The Boston, New York and Philadelphia office markets are among the most competitive in the country. While factors like salary, commute time and personal fulfilment remain important in deciding where to work, employees are now placing more emphasis on amenities and work-life balance in their final …

Investors Like Fairfield, Westchester Counties

With a unemployment rate of 3.9 percent, strong demographics, transportation that provides direct access to New York City and a highly skilled workforce, Westchester County is seeing steady investor interest across all major property types. We have seen significant interest from institutional investors, including pension fund advisors, insurance companies and REITs. This same buyer class has continued to underwrite increased rent growth in the more urban markets of Westchester County — …

Mass Timber Emerges as Preferred Construction in New Hampshire Office Market

If you’ve spent time in quaint New England cottages, you know that unique indoor environment can conjure feelings of warmth, happiness and comfort. Exposed wood inside of houses provides sensations of coziness and security that have been emulated in biophilic design —  a term referring to the human connection with nature — across America. So why hasn’t this warm and healthy feeling spread to America’s offices? We’ve seen the mill brick buildings and the steel and concrete office …

Five Ways in Which New Hampshire’s Multifamily Developers Are Making Life Easier

As the saying goes, “nothing worth having comes easy.” While this is true in many ways — especially in the real estate business — the multifamily market in New Hampshire is putting this saying to the test. Design and technology trends represent innovative ways to make life easier for new residents. The result is a revolution in convenience and lifestyle across developments from Nashua to Pittsburg and everywhere in between. Five trends in particular are driving this revolution in the …

Brooklyn and Queens: Worthy Alternatives to Overpriced Manhattan Office Market?

New York City is one of the priciest office markets in the world, with Manhattan housing the core business district of the city. The borough has always been the place to be — the ultimate live-work-play destination that houses the big corporations and the talent that recruiters look for. Overall, office asking rents in Manhattan fell only slightly during the third quarter to $74 per square foot, per Cushman & Wakefield, while rents in some submarkets continued to rise. In highly …

Price Escalation in Other Asset Classes Pushes Investors Toward NYC Retail

The value proposition for retail investment in New York City is reaching new highs amid an arguably overvalued office market and a multifamily market that continues to grapple with onerous new regulations. Rapid price escalations in both of these sectors have played an integral role in spurring additional investor demand for retail as of late. Analysis of Avison Young’s third-quarter property sales report for Manhattan revealed a rare opportunity, as the average price per square foot for …

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