On November 11th 2015 real estate brokers and analysts came together at the NYC Real Estate Expo to discuss what has been characterized as a “remarkable” 2015 real estate market in New York City. Panelist’s at this year’s expo not only reflected on the success of 2015 but also contemplated the 2016 market.
As had been originally reported on TheRealDeal.com, David Greene, president of brokerage services at MHP Real Estate Services, described the leasing climate in the city as “relentless”. Ken McCarthy, of Cushman & Wakefield reiterated that leasing in the city, in 2015 wasn’t quite as strong as 2014, but said 2015 “has been a very strong year”. McCarthy and others expect 2016 to be a continuation of the solid market we have seen over the last couple of years.
The city’s financial sector is seeing renewed success and growth, which helps to fuel the optimism portrayed by the various real estate brokerage services. The financial sector makes up a significant piece of the city’s economy with 11% of the city’s workforce employed in this sector.
The luxury market has been seeing a similar rejuvenation and NYC Apartments for sale service firms like TOWN Residential is catering to this elite market. TOWN Residential is winning fans and flourishing by providing best in class customer service. Their specialization is in luxury residential sales, leasing, and the marketing, sales and leasing of property developments.
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The 2015 NYC Real Estate Expo was an all around success. There were some presenters that expressed reservations regarding the impact that future Federal Reserve decisions may have on their home market. With those concerns noted, nearly every industry professional featured at this year’s event felt a great deal of optimism for the future of New York’s real estate market.