New projects add commercial, residential units to New York City

On Behalf of | Aug 8, 2018 | Real Estate Transactions

Real estate constantly changes in New York, and that’s no different today. An Aug. 7 report discusses some of the major real-estate projects coming to the city, including major hotel developments.

One such real estate transaction is for the Marx Development Group, which will build a 43-story structure with 531 residential units. It is a 213,000-square-foot retail outlet and hotel that will have open locations for retailers and businesses inside.

Another project taking place nearby in Rego Park is a 23-story mixed-use building. This will have 116 residential apartments and another 25,000 square feet of retail space. A car garage and space for the community are also planned with this construction.

In Harlem, Carthage Real Estate is building a 108-unit residential structure, which will be 12-stories tall. Its plans include rentals and condos with market-rate and affordable units.

These are just three of the upcoming real estate developments in the city, and they’re something to look into if you are wanting a commercial space or to invest in residential properties. As space becomes a commodity, it will become more expensive, so finding early projects like these is a good chance to negotiate prices for your business or real estate plans.

When you look into making a purchase in New York, keep in mind that there is more to do than just pick out a beautiful facility. Contracts, mortgages and other factors all play a role in how this purchase affects you in the future. Getting help with your real estate transaction is a must, so you’re protected and know you have someone supporting you along the way.