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Hey Friends, As we passed the one-year anniversary of New York City's COVID shutdown on March 20, Spring 2021 is bringing along more than just warmer temperatures. It's also delivering a bevy of good news, long-awaited reopenings, and a reignited real estate market. Lately, we've even had several clients involved in competitive bidding situations (and winning them!). This month's newsletter is a touch light on real estate and heavy on interesting NYC stuff... Butttt let me just add this: Every week over the past 8 weeks in Manhattan, there have been more than 30 contracts signed on real estate priced higher than $4 milion. That is a streak that we have not seen since before 2006! There is still value out there but smart buyers are taking advantage... On the vaccine front, over 2 million city residents (or 31 percent) have received at least one vaccine dose - like myself woo hoo, finally an advantage to being 50! And over 1 million (16 percent) have completed their COVID vaccine series! This, combined with case counts trending strongly downward, means that more business and services can continue expanding capacity, and several entertainment events are planned throughout the city in the coming weeks. It's been a long, challenging year, but the road ahead is brighter. Read on for more good news and please ask any questions at all about this very busy spring market that we are in! |
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MARKET ROUNDUP |
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Google Bets Big on New York City and BIPOC |
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File this under the "NYC is back" baby department... Google has announced plans to invest more than $250 million into New York City in 2021, solidifying the companies long-term commitment to the Big Apple. This investment will include the expanding Google campus presence in the city as well as a $7 million pledge to add 10,000 new full-time jobs across the U.S. this year. In 2018, Google promised to double its local workforce by 2028 and currently employs 11,000 people in New York State. As part of their expanding workforce, Sundar Pichai, CEO of Google and Alphabet, signed onto the NYC CEO Jobs Council, a coalition of employers committed to hiring 100,000 low-income Black, Latinx and Asian New Yorkers over the next 10 years. "I'm grateful for Google's commitment to the future of New York City and to our diverse workforce," said Manhattan Borough President Gale A. Brewer in the announcement. "As we begin our road to recovery, this $250 million investment is welcome news for New Yorkers and is a sign of the vitality and strength of New York's technology sector." |
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New (and Unexpected) Parks Coming Soon |
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More green space more green space! When adding parks to the most densely populated metro area in the country, it pays to get creative. That's why I'm loving two new outdoor spaces — one private, one public — coming soon to New York City. This month, the Landmarks Preservation Commission approved plans for a large 24,000-square-foot park atop Radio City Music Hall. Dubbed Radio Park, the project isn't exactly a new idea. In fact, the original 1930s plans for Rockefeller Center included multiple interconnected green spaces, and three of the buildings within the complex currently boast roof gardens. Radio Park will be situated on the low-rise portion above Radio City and will feature landscaped gardens, paths, pavilions and seating areas. Intended as amenities space for tenants of Rockefeller Center, access will be available from 50 Rock to the east and via a bronze pedestrian bridge on the 10th floor of adjacent 1270 Avenue of the Americas to the west. Get your bathing suits ready! In Brooklyn, Two Trees — the folks behind the Domino Sugar Factory megaproject and uber-popular Domino Park — are including a public beach in their plans for a Williamsburg complex. Dubbed River Ring, the development will consist of two massive, undulating towers designed by Bjarke Ingels flanking an environmentally-conscious park with a cove and beach. The three-acre waterfront park is intended not only as a sorely needed addition of outdoor space in the area but also as a flood and storm surge mitigation effort. The site will include a protected beach area surrounded by berms, breakwaters, marshes and a circular esplanade that extends into the East River. The two towers are slated to offer 1,050 apartments, including 263 affordable units, as well as a new 50,000-square-foot YMCA and retail space. Located on River Street between North 1st and North 3rd streets. |
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MY NEW YORK CITY – OUTDOOR ENTERTAINMENT EDITION |
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On March 3, Gov. Cuomo announced that arts and entertainment venues can reopen at a limited capacity beginning on April 2. This means that live performance venues will be able to open indoor spaces at 33 percent capacity or up to 100 people indoors and 200 people outdoors. According to the announcement, if all attendees present proof of a negative coronavirus test before entry, capacity can increase to 150 people indoors and 500 people outdoors. (My caveat here as the husband of a Broadway performer is I am a bit disappointed the state has been light on their protocols for performers and making sure they are safe!) New York is also offering a wealth of outdoor entertainment options this spring and summer (see below). To ease safe passage into entertainment events, indoors or out, the governor announced the launch of the Excelsior Pass, a new mobile app that will confirm an individual's vaccination or recent negative COVID-19 test. -On April 17, my wife and I are going to support our good friend Bradley Gibson — who starred as Simba in "The Lion King" on Broadway — for an outdoor concert, and we cannot wait! This acoustic performance will take place on the rooftop of Showfields in NoHo. Get tickets and we will see you there! -The Open Culture program will bring outdoor cultural events to more than 100 locations across New York City. The effort, which runs through October, will allow for ticketed, socially distanced performances, workshops and classes in Open Streets and other outdoor venues. An innovative concept by architectural firm Marvel converts portable shipping containers into stages for outdoor theatrical and musical productions, which could ease the transition from city street to performance space. -NY PopsUp is a new kind of festival bringing hundreds of pop-up performances, many free of charge, to locations across the state. Intended as a pilot program for bringing live performances back safely, NY PopsUp events will run through Labor Day, reaching their apex this summer with the return of the Tribeca Film Festival for its 20th anniversary and the much-anticipated The Festival at Little Island on Pier 55. Follow @nypopsup on Instagram and Twitter to learn more about the mostly unannounced, surprise performances. -Restart Stages at Lincoln Center will transform the outdoor spaces of the 16-acre campus into 10 al fresco performance and rehearsal spaces. The program aims to kickstart arts and entertainment in the city by providing a safe place for live performances, family activities and civic engagement. The program kicks off on World Health Day on April 7 with a special |
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