Square Feet
Asbury Park’s Boardwalk Revival Moves Inland
By BETH GREENFIELD
Low property prices and rents are attracting businesses back to Asbury Park’s downtown, creating a growing restaurant and club scene.
Myrtle Avenue in Brooklyn, once known as “Murder Avenue” for its crime rate, is riding a wave of improvement, helped by the neighboring Pratt Institute.
Barracks Row, a shopping strip southeast of the Capitol, hit hard times before businesses began restoring it block by block.
Bloomberg L.P. signed a lease for 16 floors in the former Philip Morris building, across from Grand Central Terminal.
Low property prices and rents are attracting businesses back to Asbury Park’s downtown, creating a growing restaurant and club scene.
The overall downtown vacancy rate is over 22 percent, but the growth of data centers is bringing tenants and hope.
The Midtown tower, built as the office market slumped, is filling up and may presage a recovery of Manhattan’s high-end office market.
After many false starts, a troubled 36-acre development project gets a big tenant and new hope.
Investors hoping to make millions buying the back-office operations of a foreclosure lawyer have come up short.
A descendant of the Alabama city’s founders, trained in urban planning, has bought up properties with the goal of creating a design-centered district.
As banks retreat, corporations like Google and Verizon are stepping up to buy tax credits from developers of low-income housing and get the projects moving again.
As growth picks up, employment steadies and financing to add new rooms remains tight, hotels may begin to raise their rates.
Delinquencies in commercial mortgage bonds are at a record high as restructurings are being delayed by lengthy foreclosure court cases.
As employees become more mobile and less tied to their desks, the average amount of space per employee has been dropping, and what remains is being made more flexible.
Charles Cohen, owner of a Manhattan building across from Macy’s, said Peter L. and Anthony E. Malkin broke their 1963 lease by making structural changes.
Mr. Mann, is the managing director of the United States operations of Gardiner & Theobald, a project management and construction consultant with offices worldwide.
Mr. Kaufman is the chairman of the Kaufman Organization, which owns commercial properties in the New York area and provides brokerage and consulting services.
Mr. LiMandri is the commissioner of the Department of Buildings, which oversees nearly a million properties in New York City, by enforcing various building codes and laws.