We’ve written what’s hot and what’s not in our annual real estate predictions of green trends and have also written in depth about those trends - roof gardens, urban farms, beekeeping, biophilic design, solar and many more. But come gather ‘round people, because the times they are a’changin. Certainly, we’re seeing changes in the real estate landscape. As The Urban Land Institute’s “Emerging Trends in Real Estate US and Canada” opines: “New Era Demands New Thinking.” ULI considers the 2019 outlook to be complex with uncertainty, a scenario where the subtle interplay of overlap among real estate market sectors will “make for innovation and creativity. “
It is clear that coworking has transformed both the commercial real estate industry and the startup ecosystem. By allowing small businesses and solopreneurs easy access to well-appointed, turnkey, flexible office space complete with fractional use of shared resources such as printing, conference rooms, and videoconferencing, coworking companies typically extract significantly higher psf revenue than traditional commercial landlords. Given the clear benefits to both landlords/operators and their customers, coworking is not only here to stay, but will continue to encroach upon the traditional commercial office space landlord/tenant model. Coworking behemoth WeWork was recently valued at $45 billion and is rumored to be planning a very high profile IPO in 2019.
Manhattan, NY According to Strategic Capital, Cape Advisors, and Forum Absolute Capital Partners, West SoHo’s newest residential tower, Greenwich West, has topped out to its full 30-story height. The building broke ground in July 2018 and launched sales of its 170 residences this fall, with closings slated to begin in early 2020. The builder for the project is Plaza Construction. Greenwich West is located at 110 Charlton St. in the Hudson Sq. neighborhood, which sits at the nexus of the West Village, Soho and TriBeCa. The area, and all of the west side waterfront up to Hudson Yards, is currently in the midst of one of the city’s biggest development booms, as illustrated by Google’s recent announcement to develop a New York campus in Hudson Sq. This news came months after Disney/ABC said that it would be moving its New York headquarters to the neighborhood, further showcasing the area’s transformation into a 24-7 live, work and play destination.
New York, NY According to MKDA, Richard Rudman has joined the firm as a managing director. In addition, his corporate design firm, Rudman Design, LLC will be merged into MKDA. He has 35 years of experience in interior space planning, programming, design and project management. He has worked on offices, showrooms and educational facilities for clients that include Pirelli North America, Christine Valmy, e.l.f. Cosmetics, Catalyst, Rent Stabilization Associates, Karl Lagerfeld and Krizia.
Manhattan, NY RYBAK Development has launched plans for a new development project – Manor82. This limestone development is located in the Upper East Side neighborhood at 333 East 82nd St. On December 19th, 2018, RYBAK Development closed on UES assemblage of four townhouses; 331, 333, 335 and 337 for $23 million. Manor82 shall be a 21-unit condominium project with a unit mix consisting of one, two, three-bedroom, duplex townhouses with terraces and PH units with 18-ft. ceilings and a community facility space at the ground and cellar levels. The project has been filed to be composed on 35,875 FAR s/f.
he question haunts me every time someone says it to me and unfortunately, that’s all too often. It’s kind of like saying “well, I’ll get car insurance after I’ve had an accident or home insurance after the hurricane. That just doesn’t make any sense at all. And I believe it’s because of a fundamental issue. Most folks don’t understand how security works. Back in the medieval ages, security meant build a big castle wall with a moat (some people still think this is effective [wink, wink, nudge, nudge]); then after the hordes changed tactics and instead of advancing would lay siege.
The transformation of traditional office space through open-plan workspaces has been heralded as the next great frontier in office productivity and culture, encouraging open communication, collaboration, and efficient use of space. Many recent open-plan offices have embraced contemporary design with aesthetically pleasing decor and dynamic lifestyle elements such as coffee bars, full-service café, lounge areas, and treadmill desks. In the past year, however, open office design has come under some scrutiny. A recent Harvard study found that while open office workspaces can lead to increased communication, they also can inhibit productivity. According to the study, the lack of privacy and the abundance of distractions and noise have limited employees’ ability to focus.
New York, NY Shawmut Design and Construction has completed the Alumni Auditorium renovation at Columbia University Irving Medical Center (CUIMC). Shawmut, along with design-partner MdeAS Architects, reimagined the auditorium to deliver a bright, welcoming, and modern learning environment and assembly space where employees, students, and visitors can gather, share ideas, and innovate. Other project team members included: MEP engineer - WSP Group; structural engineer - Leslie E. Robertson Associates, RLLP; and LEED consultant - Vidaris, Inc.
Brooklyn, NY According to DXA studio, a New York based architecture and design firm, 280 St. Marks Ave., a condominium building in Prospect Heights has been completed. 280 St. Marks Ave. is a 80,000 s/f, 31-unit condominium building in Prospect Heights. Located in a neighborhood celebrated for its brownstones and brick townhouses, DXA maintained the cadence and quality of the surrounding neighborhood in the faceted façade of the building. The angles also correspond to the Flatbush Tpke. which ran near the site, whose early grid was superimposed by the city grid in the 1800’s resulting in angled neighboring buildings and irregular property lines.
Jersey City, NJ Friends of BelovED Community Charter School 2, Inc. (Friends 2) and the project team of Urbahn Architects and construction manager Hollister Construction Services have reached the construction milestone of “topping out” – or completing the structural steel frame – for the new BelovED Community Charter School’s Middle School building. The new school will be situated on a half-acre parcel of land located at 535 Grand St. New Jersey Community Capital and Provident Bank have provided construction financing of $12.5 million for the project.
