Hope springs eternal in frigid January, as developers and brokers get back on the job after long holidays away. Here are some of our own hopes for the new year at locations the real estate industry will also be watching closely.
East Midtown Rezoning: The least sexy-sounding, but most important wish-list item for 2017 is the long-awaited rezoning of the vast “Grand Central District” (the blocks between Third and Fifth avenues and from East 40th to 57th streets). Several times delayed, it appears at last ready to start the public-review process early in the new year. Time is of the essence as more companies abandon the once-premier district where old zoning makes developing large new buildings nearly impossible.
Source: NY Post
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