New York City real estate has come a long way since the Dutch purchased Manhattan for $24 in 1626.
In the past decade, residential prices soared to record highs as global investors poured money into ultra-luxury developments in Manhattan. Sales activity rose at a fast clip in Brooklyn and Queens, and homebuying saw increased levels in the Bronx and on Staten Island.
Meanwhile, new complexes transformed the city’s commercial landscape. Technology companies, including giants Google and Amazon, set their sights on the city. Megaprojects, Hudson Yards among others, were born.
Spurring the growth is a large group of real estate professionals—a group that includes developers, engineers, contractors, labor representatives, city planners, investors, lawyers, accountants and brokers. As the city reckons with a pandemic that led some to flee the area and forced office buildings into lockdown, real estate experts are as important as ever.
