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Article: Developers begin to see the light. (Harry Macklowe and Howard Ronson of New York City)
- Article from:
- Real Estate Weekly
- Article date:
- November 9, 1994
CopyrightCOPYRIGHT 1994 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Two of the city's most active developers have emerged from their hibernations and are talking about the market being ripe for new buildings.
Using similar words, they described their efforts to "stay alive until '95," and their individual determinations that the market is just about ready for new product.
Nothing has been constructed in the last five to seven years, they observed, and the positive absorption has finally created a demand for both technologically advanced commercial space and high-end residential units.
Developer Harry Macklowe provided an upbeat but cautious look at both the residential and commercial sectors to the National ...