2024 Year in Review: Elliot Bogod, Broadway Realty

What noteworthy transactions or deals from this year best exemplified key market trends or shifts? 

We liked Whole Foods opening in One Wall St. and expecting legendary Parisian luxury department store Printems to open at One Wall St. early next year.

Printemps, the renowned Parisian luxury department store, is set to open its first U.S. location at One Wall St. in Manhattan’s Financial District in March 2025. This historic 50-story landmark will host the store, marking a significant expansion for the brand. The store will offer a wide range of luxury items, from top-notch clothing to other high-end products. The opening is highly anticipated and has been confirmed by developer Harry Macklowe.

What emerging trends will drive investment and development in 2025? 

We are looking forward to seeing Manhattan’s retail and office rentals to complete and new occupancies to take place in 2025. 

In 2025, investment and development will be driven by several key trends: sustainable and green technologies, AI and automation, and healthcare innovations. Additionally, urban redevelopment and mixed-use spaces will be significant, especially in areas like Manhattan, where retail and office rentals are expected to see new occupancies

These trends reflect a broader shift towards resilient and adaptive infrastructure in response to evolving economic and environmental challenges.