Good Morning New York Real Estate
Voice AmericaApril 14, 2014Real Estate Development in New York City has grown by leaps and bounds and isn’t stopping. The residential sector which cratered in the immediate aftermath of the financial crash in 2008 has rebounded significantly and is breaking all records. Employment in the city’s construction sector hit a five year high at the end of last year while employment hit 120,900 new jobs, up 4% from 2012. The average price per square foot is also setting new records, the highest in 25 years, $1,363 per foot and many buildings comfortably over $2,000 per foot.