Several real estate projects are coming to New York in the near future. These projects include the development of residential buildings along with some commercial space and mixed-use buildings. As long as New York continues to be an in-demand area for real estate, both buyers and sellers will take part in a variety of real estate transactions that meet their goals.
One of the projects coming to New York is a residential building that will be 10 stories tall. This 145,322-square-foot building is expected to feature 165 units. The site was bought for a whopping $60 million. Meanwhile, a second project that is in the works is a mixed-use building that will be 11 stories tall. This 134,000-square foot facility will feature nearly 170 residential units and retail space spanning a little more than 20,000 square feet.
A third project is a residential one that will feature 65 units. This 48,000-square-foot property will stand eight stories tall. In addition to featuring residential space, it will also offer both community space and commercial space.
Purchasing and buying such real estate properties can be both exciting and intimidating for the modern investor, especially in a competitive area such as New York. A single mistake during these types of real estate transactions can quickly cause the deals to fall through or cost the buyer or seller in other ways. However, a qualified attorney can provide the guidance needed during a real estate transaction so that an individual’s goals are achieved no matter which side of the closing table he or she is on.
Source: therealdeal.com, “The top 10 biggest real estate projects coming to NYC“, Eddie Small, Dec. 8, 2017