Globest Sectors

Lisa Davis brings extensive experience executing large-scale affordable housing and redevelopment projects at both for-profits and nonprofits to her new role.

CBRE reports last year was a strong year for office leasing in Manhattan, with the FIRE sector leading the way.

Despite the decrease in transaction volume last year, NewMark Merrill managed to have a record-breaking year with $82 million in acquisitions and $104 million in refinancing transactions.

This year, hotel investors expect transaction volume to remain flat and a reduction in loan-to-value, but capital sources remain enthusiastic on the market, according to experts at ALIS.

The firm acquires a 197,370-square-foot, two-building office asset here from the Colton Co. and plans to invest approximately $15 million to reposition it, including a reworking of the shared outdoor area between the buildings.

“Now the critical mass of supply deliveries is weighing on the sector,” says Peter Muoio with Ten-X.

The city's three-owned properties to be considered by respondents include 2469 Second Ave. in East Harlem; 455 First Ave. in Kips Bay and 44-36 44th Drive in Long Island City.

The city has an important attribute that sets it apart from other US tech hubs: affordability.