Search
 

Panels: 'The Sky Is Not Falling'

NEW YORK CITY-The 7th Annual RealShare New York brought together CRE experts for a Power Panel and Town Hall to discuss the future of New York real estate.

By Ryan Clark | Updated on September 25, 2008

[IMGCAP(1)]NEW YORK CITY-A $500-million ground-up land deal will yield a 360,000-sf residential tower on Central Park South, according to panelist, Alan Miller, senior director at Eastern Consolidated at Incisive Media’s RealShare New York conference on Thursday. Miller hints the property is being built by a “well-known firm, backed by foreign capital.” Miller might have been referring to 22 Central Park South, which is currently undergoing a renovation with Tishman Construction signs hanging in its doorways.

This type of deal was indicative of most of the panelists’ tone at the Seventh Annual commercial real estate event. Movers and shakers of CRE gathered within the towering majesty of the Roosevelt Hotel here to discuss and debate the future of New York’s real estate market. Despite the downturn, the mood was optimistic.

The conference began with keynote speaker Seth Pinsky from the New York City Economic Development Corp. (NYCEDC), voicing his opinion that Mayor Michael Bloomberg was the “best mayor this city has ever seen.” Pinsky pointed out that currently, New York had the highest bond rating in 80 years and that, by the end of the mayor’s term, the boroughs will have “rezoned 20% of the city’s land area.” Listing some of these accomplishments, Pinsky rattled off a slew of ongoing projects including, the far Westside, the 11th Avenue subway expansion, Willet’s Point, Hunt’s Point, the Atlantic Yards project and the two new stadiums in the Bronx and Queens.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.