What transaction, project, or key moment best reflected the direction of the New York CRE market this year?
One of NYC’s initiatives promoting housing affordability is an allowance of increased new development size in exchange for inclusion of affordable units in market-rate multifamily projects. Developers will continue to take advantage of this benefit. One example is our firm’s recent project, the Bronx Vibe, located in the Concourse Village section of the Bronx, NY. This luxury, 155-unit, mixed-use residential/retail development contains 47 affordable residences, 30% of the total.
What accomplishment, milestone, project or transaction stood out for you or your firm in 2025?
In the past 12 months, IMC has significantly expanded in several major markets, including the luxury, market-rate and affordable multifamily residential segment; healthcare; education/charter schools, commercial and civic sectors. Our most significant projects include the 26-unit, luxury 218 Madison Ave. condominium and 20-story 248 East 62nd St. residential tower, both in Manhattan; The Carroll, an 82-unit, luxury rental building at 33 4th St. in Brooklyn’s Carroll Gardens and two major electrification retrofits of affordable and supportive housing properties: the New Senate in Manhattan and the Silverleaf Hall in the Bronx, NY.