Despite the recession that hit the entire world back in 2008, it seems that New York had long been enjoying its economic recovery and that of its real estate from then on to date. This is evident in the country's real estate projects which are apparently increasing.
Here are some of the biggest projects coming to New York this 2016, as listed by The Real Deal:
5002 Second Avenue, Brooklyn
A 140,000-square-foot facility has been planned to take shape in Sunset Park located two blocks from the NY Harbor. Banner Development hired Frank Relf as the architect of this biggest real estate project.
134 West 58th Street, Manhattan
Isaac & Stern Architects will design the 18-storey building with 41 apartments in the 52,000 square feet of space. This is another Midtown residential building in the south of Central Park. This project has been filed by Extell.
652 Kent Avenue, Brooklyn
An office building with 556,000 square feet and 17 stories will be built in Dock 72, Brooklyn Navy Yards. Filed by Boston Properties and Rudin Management, the asking rents run from $60 to $70 per square foot, according to Michael Rudin, Rudin's vice president.
111 East 172nd Street, Bronx
Bronx will have a 14-story, 107,000-square-foot building this 2016 as filed by a health non-profit organization, Community Access. Half of its units will house the people suffering from drug addiction and mental illness. The architect of this real estate project in Bronx is Peter Woll.
3-50 St. Nicholas Avenue, Queens
A 17-story commercial building with 90,000 square feet of space will be built at this Ridgewood area. The commercial space will be at the building's lower five floors while the upper 12 floors will house 130 residential units. Such structural plan is supported by Meir Babaev's AB Capstone as per reports.
