A number of New York CRE investors and developers are working on exciting projects in 2022. Many luxury projects are slated to break ground across New York City, from luxury multifamily condos to offices and retail flagships. Some of these upcoming projects will be talked about at the forthcoming New York Build 2022 Expo, which comes to the Javits Center on March 2 and 3. The conference agenda includes talks on the latest crop of construction codes, updates on government projects and trends in urban design, as well as a special on women in construction. Here are the seven investors and developers we’ve had our eye on, and our take on how these CRE projects will change New York City’s skyline in 2022.
This development company was first co-founded in 1984 by Sanford Loewentheil and Ron Moelis. Over the past 30 plus years, they have developed, invested, constructed and managed properties worth $10 billion. During this time L+M has acquired, built or preserved nearly 35,000 high-quality residential units in New York’s tristate area, Washington, D.C., the West Coast and Gulf Coast. They’ve created mixed-use buildings like The Niko in the East Village, 25 Park Row and Hahne’s department store flagship. Next up they’re working on 100 Claremont Avenue in Morningside Heights, which is designed by Robert A. M. Stern Architects (RAMSA) with SLCE Architects. The 354,000-square-foot building will have 165 condominiums, alongside offices, faculty housing and classrooms for the Union Theological Seminary. The building is being developed by L&M alongside Daiwa House and Lendlease.
Co-founded by Brian Ezra and Avi Fisher, Avery Hall Investments has developed high-end residential projects across Brooklyn, including in Park Slope, Boerum Hill and Carroll Gardens. Next they’re developing the One Boerum Place residential tower in downtown Brooklyn that will feature condos for sale. Vancouver-based QuadReal Property Group and Global Holdings Management Group are supplying the loan package. As the Commercial Observer reported, Global Holdings has contributed roughly $40.5 million in mezzanine debt in the deal.
Rudin Management is working on 415 Madison Avenue, a new mixed-use tower located between the Rockefeller Center and Grand Central Terminal. This boutique tower was initially designed by Emery Roth & Sons, and it opened in 1955. In fact, this property was the Rudin family’s first commercial building. The building offers floor plates ranging from 5,000 to 15,000 square feet. Right now they’re planning to demolish the old building to make way for a 605-foot tower with over 340,000 square feet of office space. The project is slated to include a retail pavilion and a public concourse.
There has been a lot of chatter about Brooklyn’s “tallest residential tower,” and 9 DeKalb aims to be that exactly. Standing at 1,066 feet, the Brooklyn Tower, as it is called, is a mixed-use building by JDS and SHoP Architects. The tower has high-end luxury condos for sale and for rent (sales begin this year), incorporates the historic Dime Savings bank, which was built in 1908, and remains a relic of the gilded age. More than anything, this building symbolizes how the skyline in downtown Brooklyn can diversify and further develop. Currently, much of it is your typical tall, glass skyscrapers, without much deviation from that style. As part of this project, the firm is using augmented reality to show what the 74-story skyscraper will look like along the Brooklyn skyline, and how it will fit alongside its neighbors, as the New York Times reported.
Extell is currently working on 2551-2555 Broadway, a 22-story glass residential building in the Upper West Side, which is being designed by Stephen B. Jacobs Group. The building boasts 130 residential units and over 9,000 square feet of ground floor commercial space, which will likely be used for retail. Part of the retail space will take over the former Gristedes supermarket on the southwest corner of 96th Street. The condos in the building are expected to be ready for move-in by the summer.
Real estate investment firm Sedesco works on developments and asset management. They’re currently working on 41-47 West 57th Street, where they’ve planned a 1,100-foot-tall mixed-use tower with 119 condo units, as well as a 158-room hotel and a restaurant. This massive building will be high among the others on Billionaire’s Row on West 57th Street, offering 119 units and over 200,000 square feet of commercial space. There is also going to be a 158-room hotel and an accompanying restaurant. OMA architects designed this mixed-use building.
Brookfield Properties has worked on a number of successful projects over the past few years. This time they’re helping develop the burgeoning skyline along Greenpoint. Their next project is Greenpoint Landing, a 22-acre development site right on the Brooklyn waterfront. They’re transforming a former industrial part of the neighborhood into a multi-building development, which they started in 2015.
In partnership with the Park Tower Group, they have a series of buildings here called ‘Blue Slip,’ naming each tower by number. In total, this community is expected to have 11 residential towers with over 5,000 housing units (1,400 units, or 30% of the condos, will be affordable) alongside public spaces, parks, a public school, retail spaces and a waterfront esplanade — perhaps needed now, more than ever, especially now that the Lower East Side’s East River Park is closing. Greenpoint Landing’s new retail tenants include Brooklyn sustainable coffee brand Eleva and grocery chain Prestige Organic Market.
