2015 Year in Review - Heidi Learner

What real estate project, transaction, market trend or product had a significant impact on your industry in 2015? The biggest market trend is the new product under construction, which has been responsible for shifting Manhattan’s office epicenter both West and South.  That the Hudson Yards and World Trade Center developments have been able to attract not just media companies but law firms as well reflects the demand for newer, more efficient and more flexible space.  Employers are realizing that office space can be used as a recruiting (and retention) tool.  I would be remiss if I didn’t mention the “WeWork” trend as well. How will you be supercharging your productivity in 2016? I’ll be looking to use Evernote or another digital app that enables me to declutter. (I still prefer “old school” printouts of research and articles to reading material online, unfortunately. ) What emerging trends will drive investment and development in 2016? One of the emerging trends for development in 2016 will be redevelopment. There are significant lease expiries and future moves that will increase the availability of space along Sixth Ave. and landlords will likely have to upgrade their product in order to compete with new supply - whether at Hudson Yards, the World Trade Center/Brookfield Place or one-off locations such as 425 Park and 1 Vanderbilt.  The renovations at 390 Madison (née 380) and 5 Manhattan West are good examples of the improvements that landlords will have to undertake in order to attract new tenants.