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Posted: December 25, 2023
2023 Year in Review: Timothy Shea, Jr., Certilman Balin Adler & Hyman, LLP
Partner
Certilman Balin Adler & Hyman, LLP
What person, project, transaction, or market trend had the greatest impact on your industry this year? The most significant market trend for our industry has been the warehouse boom. We handled approvals for well over one million s/f in warehouse projects between 2022 and 2023 in the town of Brookhaven alone. We continue to have large warehouse projects in the pipeline for 2024.
What emerging trends will drive investment and development in 2024? We expect the most significant trend in Suffolk County through the next three to five years to be re-development of existing commercial sites to mixed use development with substantial residential units. Suffolk County has a dire need for diverse housing, and there seems acceptance within municipalities to approve such projects.
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