Harlem River of the Bronx andManhattan in New York City.
NEW YORK CITY –In the South Bronx, a wave ofdevelopment is sweeping over the Mott Haven submarket and for goodreason, as it is one of the closest Opportunity Zones to Manhattan.And institutional investors are rushing in to break ground onretail, community facility, and residential-focused developments.But not ZG Capital Partners, the development firm see's a greatopportunity in the submarket to roll-out creative office for alive-work-play feel, James Tamborlane, partner at the firm tellsGlobeSt.com.
"There's a big driver to move to the outer boroughs and rent ismuch more affordable," Tamborlane said. "As the submarket grows andgrows, rents will grow with it. It's a good time in themarket place to invest when there's growth to be had and be at theforefront of development."
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
