As the demand and pricing of available land continues to grow, developers are becoming more creative, building their new development projects on top of existing buildings.
Literally buildings on top of buildings.
The New York Post delves deeper into this new phenomenon, featuring HPDM projects 21W20, which was partially built atop an existing garage, and The Sorting House, described as the transformation of a functioning Post Office.
“Unless land prices come down,” said HPDM President Stephen Kliegerman, “expect the trend to continue to lean towards condo development in the future.”
Pet Friendly will always be a buzzword when choosing your perfect home. A couple of our projects, 51 Jay and 388 Bridge, take ‘pet friendly’ one step further by offering amenities for resident pooches. The New York Times provides some great coverage on the evolution of four-legged amenities.
“This is a healthy sign for the market as sellers need to come back down to reality,” said Robin Schneiderman, director of business development at Halstead Property Development Marketing
More than half of the residences at the Sorting House, a functioning post office-turned-luxury condominium in Midtown Manhattan, have sold.