Executive of the Month: Karp, founder and CEO at Hello Living, has a passion to build creative and innovative projects
New York, NY The New York Real Estate Journal recently sat down with Eli Karp, founder and CEO at Hello Living for a question and answer session. Q: How did you get your start in real estate? A: I love to create things; it is as simple as that. I knew from a young age that I wanted to be a part of something that shapes communities.
Hottest trend of 2019: Sustainability – The times are indeed ‘a-changin’ with a new generation - by Steven Schleider
We’ve written what’s hot and what’s not in our annual real estate predictions of green trends and have also written in depth about those trends - roof gardens, urban farms, beekeeping, biophilic design, solar and many more. But come gather ‘round people, because the times they are a’changin. Certainly, we’re seeing changes in the real estate landscape. As The Urban Land Institute’s “Emerging Trends in Real Estate US and Canada” opines: “New Era Demands New Thinking.” ULI considers the 2019 outlook to be complex with uncertainty, a scenario where the subtle interplay of overlap among real estate market sectors will “make for innovation and creativity. “Question of the Month: What is happening in 2019 with the Hudson Yards project and Chelsea’s commercial market? - by Aleksandra Scepanovic
A very long time in the making, Hudson Yards is a project taking form in Manhattan’s Chelsea neighborhood. Thought up in the early 2000’s, the project broke ground in 2006 and for the past 13 years the eyes of Chelsea, Manhattan and the rest of the world have been focused on the once forgotten, vast, far-west part of Chelsea being redeveloped through this enormous undertaking. The dreaming up and execution of Hudson Yards involves renowned developers, architects, government offices and retailers, all part of an extensive list of the project’s stakeholders.
Coworking 2.0 – Transforming the industrial real estate market and generating higher revenue - by Rafael Alvarez
It is clear that coworking has transformed both the commercial real estate industry and the startup ecosystem. By allowing small businesses and solopreneurs easy access to well-appointed, turnkey, flexible office space complete with fractional use of shared resources such as printing, conference rooms, and videoconferencing, coworking companies typically extract significantly higher psf revenue than traditional commercial landlords. Given the clear benefits to both landlords/operators and their customers, coworking is not only here to stay, but will continue to encroach upon the traditional commercial office space landlord/tenant model. Coworking behemoth WeWork was recently valued at $45 billion and is rumored to be planning a very high profile IPO in 2019.Brod and Finkelstein of ABS arrange 4,751 s/f lease
Manhattan, NY According to John Brod, a partner at ABS Partners Real Estate, men’s fashion and accessories brand, Bugatchi Group, Inc., has signed a 4,751 s/f lease for the entire ninth floor at 145 East 57th St., a 13-story, 64,000 s/f “curated” office property located between Lexington and Third Aves. Bugatchi will be utilizing the space to house its family and business offices
In 2019, Manhattan’s investment property market faces wild card of rates & rent regulation - by Howard Raber and David Baruch
Manhattan’s real estate investment market was a mixed-bag last year and there are concerns that rising interest rates and changes to rent regulation may have the potential to suppress activity in 2019. A look back at Manhattan’s investment sales activity in 2018 shows that investors were already anticipating these market shifts; yet total sales volume and pricing remained rather stable compared to 2017. Investors will continue to be active this year as Manhattan will continue to prove to be one of the stronger markets for both national and international buyers.
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