The Reel

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A blog for breaking sales and neighborhood real estate news.

By: Andrew Posil and Will Suarez

At the recent Massey Knakal CRE Summit, Larry Silverstein delivered a rousing keynote address outlining his company’s extensive development activities in Lower Manhattan. He enthusiastically described his firm’s remarkable World Trade Center buildings as well as its residential, retail, and hotel projects which are reinventing Lower Manhattan. No longer is Lower Manhattan merely a place where people show up to work. Rather the area is quickly becoming a seven day a week destination for all: business people, leisure travelers, and residents.  Given the tremendous momentum that Lower Manhattan’s real estate projects are gaining, Mr. Silverstein’s enthusiasm is well founded. With over $30 billion in combined private and public investment in Lower Manhattan over the last 10 years, Silverstein Properties, and many other notable New York developers, have been compelled to spend much of their time, energy, and resources there.  Given the amenities which the influx of development activity has produced, an increasing number of future visitors to the City will likely feel the same way. With Lower Manhattan’s vibrant new atmosphere, improved access and upgraded attractions, this burgeoning hotel market is poised for more growth and prosperity.

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Neighborhoods: Financial District/ Agents: Guillermo Suarez