New construction is already trailing new deliveries in Manhattan with only 2.1 million square feet of new office development starts to-date since the beginning of last year.
Vision Properties and Hana Alternative Asset Management have acquired the 431,281-SF, waterfront property located at 70 Hudson St.
However, crime and weak job growth could limit the upside, according to BTIG.
Co-CEOs, Diane Hoskins and Andy Cohen work as a collaborative team responsible for the day-to-day operations of Gensler’s global architecture, design and planning firm.
Midwood Investment & Development has acquired the 160-unit building.
Moody’s Analytics asserts that strong economic fundamentals and nimble, nuanced real estate strategy are effective counter to inflationary and other market headwinds.
The company has signed a 328,000 square foot, 16-year lease to establish a hub in Manhattan’s Flatiron District.
The deal values the office building at $2.85 billion.
Hudson Valley Property Group will preserve 748-units as affordable housing and it will implement upgrades at each of the three New York properties.
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