News:
Spotlight Content
Posted: December 31, 2024
2024 Year in Review: Cole Kinney Leonhardt, Brax Realty
Investment Sales Associate
Brax Realty
What noteworthy transactions or deals from this year best exemplified key market trends or shifts?
The deal from 2024 that I am most proud of is the sale of a prime condo development site in Long Island City at 10-37 & 10-45 49th Ave. In this case, Brax Realty represented both the seller and procured the buyer. This sale stood out as we broke a development site pricing record in the Hunters Point sub-market. Long Island City is one of the most sought-after neighborhoods for developers and with continued growth and infrastructure improvements, the area promises long-term value. We have access to off-market opportunities and can help you identify your next prime site.
What emerging trends will drive investment and development in 2025?
In, 2025 several key trends will impact the real estate investment market in NYC. Two of the most impactful: In 2025, NYC will see a rise in office-to-residential conversions, driven by hybrid work trends and housing demand. Developers will repurpose underutilized office buildings into affordable and mixed-income housing. This trend has already emerged but is expected to gain significant momentum in the coming year. Foreign Capital’s increasing target on NYC’s outer boroughs. Investors from Asia, Europe, and the Middle East will continue to seek more affordable opportunities, higher yields, and massive growth potential outside of Manhattan’s core.
Tags:
Spotlight Content
MORE FROM Spotlight Content
NYREJ's 2026 Developing Long Island Spotlight Participation Options
This special section will feature projects completed within the past six months as well as projects that are currently under construction across Long Island, submitted by developers, general contractors, construction managers, and architectural firms.
.png)
Columns and Thought Leadership
CRE Guide Featured Company: Merritt Environmental Consulting Corp.
Merritt Environmental Consulting Corp. (MECC) was established in June of 2009 after being part of a larger engineering firm for almost 20 years. The focus of the company is to assist lending institutions, attorneys, real estate investors, and property owners with environmental concerns. Today, MECC has offices in New York, Florida, and Vermont and has grown into a regional consulting firm serving clients along the East Coast.
From vacancy to vitality: How adaptive reuse is reshaping Long Island’s CRE landscape - by Andrea Tsoukalas Curto
Adaptive reuse has become one of the most important conversations in commercial real estate today. Long Island has a large inventory of aging retail, office and industrial
2026 Developing Queens: Long Island Board of Realtors advances commercial growth and advocacy in Queens
The Long Island Board of Realtors (LIBOR) Commercial Network continues to play a key role in advancing opportunities and strengthening the commercial real estate landscape across Queens. Through targeted programming and global outreach
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
