HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Discussion Forums > City Discussions


Reply

 
Thread Tools Display Modes
     
     
  #201  
Old Posted May 10, 2016, 5:36 PM
Crawford Crawford is offline
Registered User
 
Join Date: Nov 2003
Location: Brooklyn, NYC/Polanco, DF
Posts: 30,773
Quote:
Originally Posted by JDRCRASH View Post
Yeah, so umm you live in this place called "New York City", so...
Not only that, she represents Manhattan, and, when she was a councilperson, represented one the most highrise-filled sections of Manhattan- the Lincoln Square area.

She's the ultimate NIMBY. As she admitted, she would rather have a shorter building and less affordable housing. She even blocked new schools in her neighborhood, because the city wanted to put housing on top of the schools. Better to have decaying, overcrowded schools as long as they are low to the ground.
Reply With Quote
     
     
  #202  
Old Posted May 10, 2016, 5:40 PM
JDRCRASH JDRCRASH is offline
Registered User
 
Join Date: Mar 2007
Location: San Gabriel Valley
Posts: 8,087
Quote:
Originally Posted by Crawford View Post
Not only that, she represents Manhattan, and, when she was a councilperson, represented one the most highrise-filled sections of Manhattan- the Lincoln Square area.

She's the ultimate NIMBY. As she admitted, she would rather have a shorter building and less affordable housing. She even blocked new schools in her neighborhood, because the city wanted to put housing on top of the schools. Better to have decaying, overcrowded schools as long as they are low to the ground.
Yeah, that comment by her was so inane I decided I wasn't done editing my comment.

Seriously, i'm not sure i've ever seen a NIMBY so thickheaded and clueless as her.
__________________
Revelation 21:4
Reply With Quote
     
     
  #203  
Old Posted May 10, 2016, 7:07 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
Quote:
Originally Posted by Crawford View Post

She's the ultimate NIMBY. As she admitted, she would rather have a shorter building and less affordable housing. She even blocked new schools in her neighborhood, because the city wanted to put housing on top of the schools. Better to have decaying, overcrowded schools as long as they are low to the ground.

That quote is all you ever need to know about this woman. So, as we can see, she is biased from the beginning against any Manhattan development that would include a highrise (meaning, practically everything).


Quote:
"I think it was too tall. Horrible. Way too tall. And it's right next to a park, so between the two, it's horrific. I don't like tall buildings to start with

Her cards are on the table. She should be forced to recuse herself from any land-use process from here on out. It's outrageous.


"NO MORE HIGHRISES!"

__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #204  
Old Posted May 12, 2016, 8:06 AM
chris08876's Avatar
chris08876 chris08876 is online now
NYC/NJ/Miami-Dade
 
Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,840
Hidden Households - OCTOBER 2015

An interesting report on overcrowded dwelling units: http://comptroller.nyc.gov/wp-conten...Households.pdf

From the "Office of the New York City Comptroller".

Its to long to post, but its worth a read for those interested in NYC housing and statistics.
Reply With Quote
     
     
  #205  
Old Posted May 13, 2016, 6:57 PM
chris08876's Avatar
chris08876 chris08876 is online now
NYC/NJ/Miami-Dade
 
Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,840
State of New York City’s Housing and Neighborhoods in 2015

By: NYU Furman Center

Quote:
The State of New York City’s Housing and Neighborhoods in 2015 report, published annually by the NYU Furman Center, provides a compendium of data and analysis about New York City’s housing, land use, demographics, and quality of life indicators for each borough and the city’s 59 community districts. The report combines timely and expert analysis by NYU Furman Center researchers with data transparency. It includes three parts:
Full Report: http://furmancenter.org/files/sotc/N...5_4MAY2016.pdf
Reply With Quote
     
     
  #206  
Old Posted Jun 6, 2016, 2:05 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
http://nypost.com/2016/06/06/de-blas...building-boom/

DeBlasio backs bill seeking affordable housing boom

By Rich Calder and Michael Gartland
June 6, 2016


Quote:
A Mayor de Blasio-backed bill aimed at boosting the city’s affordable-housing stock by lifting a state cap on the size of residential projects has suddenly gained steam in Albany and could be approved later this month, sources told The Post.

The measure could lead to soaring property values in some of New York’s most desired neighborhoods by ending a state-imposed “floor-area ratio” cap, increasing the number of units that can be built in residentially-zoned buildings.

The bill cleared the Senate housing committee last week. Sources say it could be approved by next week. De Blasio’s team of Albany lobbyists have been “pushing very hard” for the bill, they added.

Neighborhoods that could see both market-rate and affordable-housing stock soar under the proposal include the Financial District, Midtown and Hudson Yards.


While passage of the legislation would be a win for de Blasio in reaching his goal of building or preserving 200,000 affordable-housing units by 2024, critics say developers could be the biggest benefactors.

“My fear is it’s going to wind up being a big giveaway to the real-estate industry,” said one Manhattan activist. “I’m not sure I trust some City Council members not to give away the skyline in exchange for funding to build a park in their neighborhood.”
__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #207  
Old Posted Jun 6, 2016, 9:13 PM
chris08876's Avatar
chris08876 chris08876 is online now
NYC/NJ/Miami-Dade
 
Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,840
Quote:
While passage of the legislation would be a win for de Blasio in reaching his goal of building or preserving 200,000 affordable-housing units by 2024, critics say developers could be the biggest benefactors.
Well of course they will. But who builds towers and units? Developers!!!



If people want more units, you have to give developers a reason to build them and/or give them the ability to do so in the first place. They would love to build more units, but zoning limitations and certain regulations for parcels keep them at bay.

The people that are against this are insane. Probably because they have units already, but if you are a young person or someone looking for a good unit in a tight market, more units are always welcomed. More supply, the merrier the apartment hunt will be.
Reply With Quote
     
     
  #208  
Old Posted Jun 13, 2016, 1:58 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
http://nymag.com/daily/intelligencer...s-skyline.html

A Nearly Secret Albany Bill Could Bring a Row of 80-Story Skyscrapers to Your Block

By Matt A.V. Chaban
June 12, 2016


Quote:
Not since the skyscraper boom of the Jazz Age has New York's skyline undergone a transformation as it is now. More than two dozen supertall towers — and counting — are in some stage of planning or construction, and not just for Billionaire's Row. These slender 800-plus-foot cloudbusters are springing up in the Flatiron, the Financial District, the Far West Side, and even Downtown Brooklyn and Long Island City. How long before they start sprouting in Riverdale or Tottenville?

How about next week?

That is the fear that erupted after a legislative package came to light in Albany this week that would remove restrictions on the size of residential buildings in the five boroughs. The bills, quietly introduced by Brooklyn Senator Simcha Felder and Harlem Assemblyman Keith Wright, would remove a 1961 density cap placed on residential buildings. Under the new rules — which could be passed before the session ends next Friday — residential buildings in most of the city could be far bigger than they are now. And the biggest backer, besides Big Real Estate, is Mayor Bill de Blasio himself.

The rule change is subtle, affecting the formula called floor-area ratio, or F.A.R., that is used to compute the bulk and size of any building. Right now, residential buildings can have an F.A.R. of up to 12: A 5,000-square-foot lot, say, can be occupied by a 60,000-square-foot building, which usually works out (because of space set aside for setbacks, plazas, and so forth) to 20 to 25 stories. Residential buildings’ F.A.R. is capped by state rather than city law, and has been since 1961, when it was not only written into the zoning code but also enacted in Albany to ensure that it would stick.

The bill as introduced in the Assembly and Senate would eliminate that limit, although developers would have to get anything above 12 approved by the Department of City Planning (as well as the City Council, where public outcry might try to limit things again). That could mean a 40- or 50-story building, or even more, on that same 5,000-square-foot lot. (Yes, we already have residential buildings that are far taller, but building those has required special horse-trading moves, like acquiring the rights from several structures and bundling them.) Many neighborhoods have absolute height restrictions set by the city, but some, like Midtown and Downtown Brooklyn, do not. The de Blasio administration argues that by lifting the cap, developers will be willing to introduce public benefits in their projects, like affordable housing, open space, or infrastructure investment.

On The Brian Lehrer Show Friday morning, de Blasio defended both the bills and his administration’s push for bigger buildings — all through his typical lens of expanding affordable housing at nearly any cost. “There are places where we can appropriately build taller,” Mayor de Blasio said. “There are some specific districts that are already very highly built up, for example Midtown Manhattan, where there's an opportunity to do some more, and to include affordable housing. This is something that is very specific to certain districts that are very dense.” Under the new rules passed earlier this year, any public review at the City Planning Commission triggers the mandatory-inclusionary-housing policy, which stipulates that 20 to 30 percent of a building be affordable if a development bonus is sought.

Now, 40 or 50 stories is still not very big for New York these days, and considering the mayor’s argument, big is good; people, and lots of them, have to live somewhere. And what the advocates seem to ignore is that the state is raising its cap on buildings, but the city is not. Every single neighborhood, and every single block, would still be governed by the city’s existing zoning code. Skyscrapers buildings will not suddenly start springing up on Pineapple or Cranberry Streets in Brooklyn Heights—partly because those are historic districts, and partly because the neighbors would scream bloody murder. Still, the cap was there for a reason, and removing it would indeed remove one more roadblock to denser development.

What it does mean, though, is that developers are likely to propose buildings larger than 12 F.A.R. in neighborhoods that have never seen them before, through rezonings and the like. When this happens, the new mandatory inclusionary housing rules passed in March would kick in. So we get towers, but we also get towers with more affordable housing. It’s a tradeoff the mayor is prepared, even eager, to make. “Now that there's a requirement for affordable housing in these new types of developments, it's a much better equation for New York City,” he told Brian Lehrer.

The question of whether we ought to be building bigger and denser is a flashpoint among city planners, and city dwellers, right now. We all wring our hands over the unaffordable city; we also tend to be skeptical of the very construction that will, at least in theory, add apartments and ease the lack of supply. Groups like the Municipal Art Society support both reforms to the zoning code and expanded density in the city, but they fear that the development taking place now is too unconstrained. Raising the density cap without careful consideration will only exacerbate that. Giant glass slabs marching up a narrow street are not the sidewalk ballet we idealize. But neither is a low-scale street that looks lovely but is too expensive for any tenant except a designer boutique.

“Much ado about nothing” is how Vishaan Chakrabarti, founder of the Partnership for Architecture and Urbanism and former director of the Columbia University’s Center for Urban Real Estate, describes the proposal. “Density is fine if it is in the right place (near transit), is designed well, is responding to social needs, and has a relationship to the fabric of New York City. If it can't meet those tests, not sure it belongs in our city regardless of its scale.”

While these new buildings may be impossible to miss, the changes making them legal were, to say the least, stealthy. “This seems to be the M.O. these days, where people don’t talk about things, they just push them through,” Gina Pollara, president of the Municipal Art Society, said. “This needs a thorough discussion. Lifting the cap would mean more buildings for some of the most crowded places on the planet.” It’s shaping up as yet another fight—as with the MTA and the schools—over home rule between New York City and Albany. “We should let the municipal government control its land use and development patterns, and it is shocking that Albany exerts this much authority over our future,” Mitchell Moss, the N.Y.U. planning professor, said. “New Yorkers should put their faith in their municipal government.”

Some of those New Yorkers in Albany do not share that faith. A group of lawmakers, mostly from the city, have risen up in opposition to the legislation in recent days. While the administration remains supportive of the proposal, it now looks like it will have to wait for the F.A.R. caps to be lifted until another legislative session. “Like everything that happens in Albany, this was being done at the last minute, out of nowhere, with no discussion,” State Senator Liz Krueger said. “And big real estate gets exactly what it wants, and the community loses.”
__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #209  
Old Posted Jun 13, 2016, 4:40 PM
mrnyc mrnyc is offline
cle/west village/shaolin
 
Join Date: Jul 2006
Posts: 11,739
in most of the city? most? i understand its a tradeoff for more affordable housing, but really now does that have a serious chance of passing?
Reply With Quote
     
     
  #210  
Old Posted Jun 13, 2016, 4:49 PM
C. C. is offline
Registered User
 
Join Date: Jan 2014
Posts: 3,018
Quote:
Originally Posted by mrnyc View Post
in most of the city? most? i understand its a tradeoff for more affordable housing, but really now does that have a serious chance of passing?
I would say yes. Follow the money. This would be a huge boon to big real estate, which would then have a few more bucks to contribute towards the Mayor's affordable housing goals.

Albany also recently snuck in a provision clarying MTA's exemption from local zoning in the budget bill. Albany also override NYC's zoning to bring the Atlantic Yards development to frutition.
Reply With Quote
     
     
  #211  
Old Posted Jun 13, 2016, 5:30 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
Even without the FAR limits, residential buildings of more than 12 would still have to go through a review process.


https://www.nysenate.gov/legislation...dment/original

Quote:
Floor area ratio (FAR). [The] EXCEPT AS OTHERWISE PROVIDED IN THE ZONING RESOLUTION OF THE CITY OF NEW YORK, THE floor area ratio (FAR) of any dwelling or dwellings on a lot shall not exceed 12.0

The usual suspects are against it...

http://www.nylandmarks.org/advocacy/...mful_upzoning_

Quote:
Tell Your State Representatives to Vote No on Harmful Upzoning Bills

June 9, 2016

The State Assembly and Senate are about to vote on bills that will dramatically upzone large parts of New York City.

These bills will remove a cap on residential development that has been in place for over 50 years and will allow unconstrained overdevelopment.


http://www.mas.org/mas-opposes-state...ntial-far-cap/

Quote:
MAS Opposes State Bill to Remove Residential FAR Cap

June 8th, 2016

Bill: S5469 (Felder) / A7807 (Wright)
Subject: Amends the Multiple Dwelling Law in relation to the floor area ratio (FAR) in the city of New York
Date: June 8, 2016

Founded in 1893, The Municipal Art Society of New York (MAS) promotes intelligent urban planning, design, and preservation through education, dialogue, and advocacy. We have reviewed Senate Bill 5469 and Assembly Bill 7807 (collectively, the “Bill”) and strongly recommend that it be disapproved by the State Legislature. This Bill would eliminate a citywide cap on residential FAR, which has been set at 12 since 1961. This amounts to one of the most significant changes in zoning in more than 50 years, more impactful than the recent Zoning for Quality and Affordability (ZQA) or Mandatory Inclusionary Housing (MIH) initiatives, and could lead to dramatic citywide increases in bulk and density without sufficient public review.

While MAS is the first to promote reform to our zoning resolution in this, its 100th year, this Bill is of concern for several critical reasons:

The Bill would allow for significant new bulk in New York City’s high-density residential neighborhoods, especially Midtown and Lower Manhattan, but also the avenues in Manhattan south of 96th Street, Downtown Brooklyn, and the Queens waterfront. These neighborhoods are zoned for the maximum residential density currently permitted (R10 or R10 equivalent districts). If the residential FAR cap is removed, the City will look to upzone many of these areas to increase density, facilitating the production of more affordable housing under MIH. Adding new levels of density to what are some of the country’s most populated districts could overburden the city’s stressed infrastructure network and crowd out light and air for neighboring properties and public spaces.

MAS is concerned that the Bill will lead to the preference for residential development in mixed use districts, as residential use commands a much higher price per square foot, compared to other uses. This could work against the City’s stated goal of building new commercial uses in many of these high-density, mixed use districts. On a related note, the City has expressed interest in expanding Landmark Transfers district-wide in East Midtown; it is unclear the impacts the Bill will have on this market.

Finally, the Bill, as currently drafted, could provide a loophole for property owners to obtain increases above 12 FAR with approval from the Board of Standards and Appeals (BSA). Such approvals through the BSA do not involve the same level of public review required by ULURP. Therefore, the full citywide impacts of eliminating the cap are impossible to predict and the public may not be provided with an adequate forum for understanding potential changes to their neighborhoods.
__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #212  
Old Posted Jun 14, 2016, 4:33 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
http://ny.curbed.com/2016/6/14/11925...rdable-housing

Opposition Mounts Against Bill That Could Allow for More Tall Towers
NYC legislators are now coming out against the De Blasio-backed bill






BY MATTHEW MARANI
JUN 14, 2016


Quote:
New York City is no stranger to development—the metropolis is synonymous with its skyline, after all—but in the last decade the city has undergone a dramatic transformation that has seen the breakneck construction of towering glass skyscrapers and the destruction of smaller buildings many hold dear. And a new legislative package from Albany has the potential to further development, and the rise of those huge skyscrapers, across large swaths of New York City.

According to New York Magazine, developers are required to build in accordance to a floor-area ratio that more or less allows 60,000 square feet of space on a 5,000 square foot lot, approximately 20 to 25 stories. But the passage of Senate Bill S5469 could effectively double the allotted height and space. Mayor de Blasio has openly supported the growth of New York's housing market (in part through cooperation with huge real estate developers), and his administration is framing this bill as a way to increase affordable housing throughout the five boroughs.

As recently as last week, the bill seemed to be on its way to passing, but New York reports that opposition is mounting among state senators hailing from New York City, as well as from nongovernmental organizations like the Municipal Arts Society. Like many of the goings-on of the state capitol, the preliminary discussions, planning, and proposed passing of the legislative bundle were conducted in secrecy, which has left opponents frustrated. "This seems to be the M.O. these days, where people don’t talk about things, they just push them through," MAS president Gina Pollara told New York.

On the one hand, every neighborhood is still subject to New York City's existing zoning code, which according to New York means "skyscraper buildings will not suddenly start springing up on Pineapple or Cranberry Streets in Brooklyn Heights." But on the other, the question remains: Should the politics of Albany have such this much impact on the built environment of New York City?
__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #213  
Old Posted Jun 14, 2016, 11:43 PM
chris08876's Avatar
chris08876 chris08876 is online now
NYC/NJ/Miami-Dade
 
Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,840
This is happening. To much money to be made. And good. The NIMBYS are lobbying the senators, and like the puppets that they are, they will do as told. But this should have a good chance of happening. The city needs it to be competitive. The Municipal Arts Society has been drinking to much of the NIMBY koolaid.

Quote:
On the one hand, every neighborhood is still subject to New York City's existing zoning code, which according to New York means "skyscraper buildings will not suddenly start springing up on Pineapple or Cranberry Streets in Brooklyn Heights." But on the other, the question remains: Should the politics of Albany have such this much impact on the built environment of New York City?
I think the bold should settle any concerns that the sheep have regarding tall towers going up everywhere. Which is not the case for the whole city.

Something like this needs to happen. We have to think ahead.
Reply With Quote
     
     
  #214  
Old Posted Jun 15, 2016, 4:25 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #215  
Old Posted Jun 20, 2016, 9:06 PM
C. C. is offline
Registered User
 
Join Date: Jan 2014
Posts: 3,018
Unless someone has more information, looks like the removal of the FAR density cap has died in a legislative committee. Maybe next year, eh?
Reply With Quote
     
     
  #216  
Old Posted Jun 22, 2016, 4:24 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,900
Sorry folks. Maybe next time.

http://therealdeal.com/2016/06/22/bi...ils-in-albany/

Bill to remove building height restrictions fails in Albany
Measure could be resurrected in next legislative session


June 22, 2016


Quote:
A state bill that would have lifted height restrictions on new development across much of New York City won’t be passed in Albany this legislative session.

The bill, introduced by Harlem Assembly member Keith Wright and state Sen. Simcha Felder, would have allowed developers to build significantly taller than currently allowed under zoning rules by removing restrictions on a building’s floor-area ratio, or FAR.

“Despite being killed this session, many expect it to be resurrected during the next legislative session,” the residents’ advocacy group Brooklyn Heights Association said in a statement cited by the Brooklyn Eagle.

The bill is backed by Mayor Bill de Blasio, who hopes it can boost his push to create or preserve 200,000 affordable housing units by 2025.
__________________
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Reply With Quote
     
     
  #217  
Old Posted Jun 24, 2016, 11:18 PM
chris08876's Avatar
chris08876 chris08876 is online now
NYC/NJ/Miami-Dade
 
Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,840
Here's how Brexit could affect New York real estate

Video Link


Quote:
On Thursday, the citizens of Britain voted to leave the European Union, which left global markets reeling. The value of the pound sterling dropped to its lowest since 1985, and the FTSE took a steep dive.

But it may not be all bad news--on the contrary, the New York real estate market could benefit from the economic and political turmoil that Brexit will result in.
Reply With Quote
     
     
  #218  
Old Posted Jun 24, 2016, 11:22 PM
chris08876's Avatar
chris08876 chris08876 is online now
NYC/NJ/Miami-Dade
 
Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,840
Long article to post, but for anyone interested, an analysis of how the Brexit could effect NY real estate. The video above is kinda a brief summary.

Full Article: http://therealdeal.com/2016/06/24/br...cept-new-york/
Reply With Quote
     
     
  #219  
Old Posted Jun 28, 2016, 12:24 AM
chris08876's Avatar
chris08876 chris08876 is online now
NYC/NJ/Miami-Dade
 
Join Date: Jul 2013
Location: Riverview Estates Fairway (PA)
Posts: 45,840
Real estate execs cheer Brexit as New York properties will become safe haven for foreign money



Quote:
Top real estate executives greeted Britain's decision on Thursday to exit the European Union—viewing the move as a boost to the New York City commercial and residential estate market.

"I think it helps New York City because it shows that this is the one place that is really stable and people feel confident investing here," said Gary Barnett, one of the city's most prolific residential developers who is in the process of erecting the tallest tower, by roof height, in the Western Hemisphere on Billionaire's Row in Manhattan. "Assuming it doesn't hurt the stock market for an extended period of time, it's not a negative."

New York City and London have long competed for the same international real estate investment dollars and Brexit will direct more money to the city as investors seek out safety, said Bob Knakal, Cushman & Wakefield's chairman of investment sales in the city.

"It has created uncertainty. Global capital will be much more directed to New York now than London, in cases where investors have the option to choose between the two markets," he added.

Different property types could be impacted in various ways. While investment properties like office buildings and multi-family residential buildings may be buoyed by more international dollars, the sale of luxury apartments—a market that depends largely on foreign buyers—could be hurt by a falling Euro and British Pound Sterling.


"I'm not thrilled the pound is at its very weakest point in 30 years," said a high-end residential developer, noting that could hurt condo sales at his projects. "But like with anything, you can't overreact because real estate is a long game and you have to let the market shake out before drawing conclusions."
===========================
http://www.crainsnewyork.com/article...es-will-become
Reply With Quote
     
     
  #220  
Old Posted Jun 28, 2016, 12:31 AM
The North One's Avatar
The North One The North One is offline
Registered User
 
Join Date: Sep 2009
Posts: 5,522
I don't know, I think in terms of business the major companies in London wanted to be in the EU, I think Brexit will mostly benefit Paris and Berlin rather than NYC.
__________________
Spawn of questionable parentage!
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Discussion Forums > City Discussions
Forum Jump



Forum Jump


All times are GMT. The time now is 7:36 AM.

     
SkyscraperPage.com - Archive - Privacy Statement - Top

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.