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Big commercial real estate projects coming to New York City

Several real estate projects were recently proposed in New York, ranging from residential buildings to commercial retail spaces. One of the commercial real estate projects is a new Essex Crossing building to be built in Manhattan. Another planned project is an apartment building that will be erected in Coney Island.

The Essex Crossing building will include more than 80 residential units that will span more than 104,000 square feet. The project should also include commercial space spanning more than 153,000 square feet. Most of this commercial space will be used for a public market, which will open on the building's lower floors. Meanwhile, the second through the fifth floors of the building will include office space.

The apartment project will be 20 stories high and feature more than 208 units. This project is slated to span more than 186,000 square feet, with more than 8,700 square feet of it being used for commercial space. Three other buildings will also go up in this area as part of the plan of iStar, a development firm, to develop this seaside neighborhood.

Commercial real estate can be a complex part of the real estate sector, whether one is interested in purchasing or leasing real estate. Fortunately, a qualified attorney in New York can help with handling all aspects of a real estate transaction, which includes all of the steps necessary to ensure a clear title. In addition, the attorney can help with negotiating, preparing or revising complex leasing documents to ensure that one's unique needs are met in the Big Apple.

Source: therealdeal.com, "NYC Biggest Projects", Kathryn Brenzel, Aug. 15, 2017

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