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Posted: December 26, 2011
Holley Drakeford of Giscombe Realty Group
What are your predictions for commercial real estate in 2012?
We are very optimistic about the future of commercial real estate here in N.Y.C. The influx of technology firms and growth in this sector will help drive the real estate market as these start ups and growing technology companies seek out office space in all parts of the city.
In Harlem, more national retail chains like DSW (Designer Shoe Warehouse) and Burlington Coat Factory are expected to open their doors along 125th St., with two new hotels (one on the Victoria Theater site) and another on 125th between 2nd and 3rd Aves. where a 98,000 s/f retail, office and residential project will continue to move forward and bring residents, tenants and more visitors to Harlem.
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