How New York City’s Skyline Will Change in 2022
Even as this stop-and-start year progressed — vaccines and reopenings and a return to something that felt kind of like normal life, followed by variants, supply-chain issues, and a wave of cancellations — real-estate plans churned along. Developers and builders continued to push skyline-, neighborhood-, and city-changing projects forward. A few of the buildings listed below are in the thick of construction, others are opening their doors, and all are, in some fashion, debuting in 2022. The success of at least some now feels like a foregone conclusion — the rich, it seems safe to say, still want to live…
Date 2021-12-30
Author Kim Velsey
Manhattan’s 10 biggest office leases in 2021
With his reflective sunglasses, sharp suit and phosphorescent teeth, Eric Adams fit right in at Summit One Vanderbilt, the mirrored observation deck atop SL Green’s new trophy tower near Grand Central. It was October 2021, and New York’s next mayor was ringing in a tourist trap at the city’s priciest office building, even though both tourism and office occupancy remained abysmal As Adams and other figureheads predicted a bright future for the edifice, and by extension the city, they hit upon a key truth those in commercial real estate have long known: The city’s economy depends largely on its office…
Date 2021-12-30
Author Joe Lovinger
Tech firms lead sublease charge into Manhattan’s office market
Tech firms are racing to upgrade New York offices on the cheap to accommodate growth, taking advantage of high-quality sublets from bigger companies that were forced by the pandemic to rethink their office needs They’re taking advantage of sublets that averaged $58.94 per square foot in the third quarter, compared with $79.85 for direct leases, according to Savills. The spread between the two is hovering at about 23.6 percent, slightly below the four-year average of 26.2 percent. Another advantage: most sublets are already built out, at a time when supply chain bottlenecks and the labor shortages could lengthen the usual…
Date 2021-12-10
Author Akiko Matsuda
Leasing launches at SVEN, eco-friendly LIC tower with customizable crown
One of the benefits of outer-borough apartments are the views of the iconic Manhattan skyline, but Long Island City is on the road to a dramatic skyline of its own. The gracefully curved Sven is a new entrant making a statement with both its soaring height and eye-catching crown. Details on a lottery for 288 rent-stabilized units were teased earlier this summer, and The Durst Organization has launched leasing on the market-rate units Current availabilities posted on the building's official website start at $2,922/month for studios, $3,642/month for one-beds, $5,545/month for two-beds, and $6,048/month for three-beds. All prices are net…
Author City Realty
LIC tower giving residents chance to light up night
UPDATED Nov. 22, 2021, 3:54 p.m.: Now that’s a night light Renters at the new Sven tower in Long Island City will have the ability to control what they see when they peer out on Manhattan at night thanks to an app that lets them change the color of the skyline with the touch of a button. According to the New York Post, potential residents at the Durst Organization property are being wooed with a membership to Spireworks, a mobile app that lets users control the glow atop iconic, Durst-owned New York skyscrapers including the so-called H&M building at 151…
Author The Real Deal