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Andrew Chung, founder and CEO of Innovo Property Group

Although today New York City is known for its thriving financial services industry, advanced health care, and upscale real estate industries, in the early 1900’s, the city of New York was the world’s busiest port, importing and exporting goods to and from all over the world. As the city’s landscape began to change with the onslaught of high-rise buildings, and the creation of more white-collar jobs became more prevalent, large warehouses from previous years became better suited for the more expansive, and less expensive suburban outskirts.

By the mid-1950’s, New York City, fueled by post-war prosperity was experiencing a burgeoning resurgence, and while new buildings were being constructed throughout the city, existing industrial infrastructures were converted into office and living spaces to keep up with the demand. Brooklyn was once referred to as, “The Walled City,” for the seemingly never-ending warehouses lining its shores. Today, many of those buildings have been converted into high-end housing or open-floor-plan offices, and there is very little actual warehouse space functioning within the five boroughs.

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