Major Development Projects Proposed for the NYC’s Real Estate Industry

The New York’s real estate industry is growing at a fast pace. The development projects that were officially proposed in June were colossal office projects. The Tishman Speyer’s project (about 1million square-foot) in Long Island City was the biggest. Among the ten proposed projects: three are residential buildings, one is a hotel, and the rest are office buildings.

Tishman Speyer’s project

Speyer’s project is the biggest. The 27-story building will consist of an office space of 900,509 square feet and a manufacturing plant of 27,569 square feet.

Joseph Sitt’s project

This real estate developer is planning to erect an office building. The 645,100 square feet building will sit on the Red Hook Waterfront (Revere Sugar Refinery’s former site). It will be a five-story building.

Doug’s Steiner project

This developer will build a 248,489-square-feet house. An industrial plant will occupy approximately 126,000 square foot while the supermarket will occupy the remaining 74,000 square-feet.

Michael Shah and John Carson joint project

These two developers plan to construct a new residential building in Brooklyn’s Downtown area. The 150,431 square-foot building will reserve 2,000-square-feet for retail space.

Eugene Schneur and Mo Vaughn

They are planning to build a 148,318 square-foot rental building in the Melrose neighborhood of Bronx.
NYCHA project

NYCHA plans to build a 160-unit building on the Chelsea-based Robert Fulton’s parking lot. The 122,955 building will consist of 18 floors.

Hidrock Realty proposed plan

Hidrock is planning to construct a 31-story hotel in Midtown East of Manhattan.

F&T Group

This realtor will construct an office space of 77,228-square-foot in Flushing area.

Quality Capital’s project

A 14-story retail and office building will be built in Greenwich Village.

Boris Aronova‘s plan

The developer will construct the 57,996-square-foot office building in Midtown area.

Town Residential

In less than a decade since inception, Town Residential has transformed into one of the leading real estate service company. The company has earned respect from its clients and other service providers due to its commitment to excellence. Town Residential provides a broad range of services such as selling luxury residential properties, developing properties and selling them, commercial and retail, and property marketing.

Town Residential has set a unique standard of excellence in the real estate industry, especially when it comes to NYC properties. The company has a team of specialists who have unmatched industry knowledge and professional expertise. Its exceptional business objective and the winning formula have earned the firm several awards.

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