New York City offers one of the most interesting, and sometimes puzzling, backdrops for the real estate industry today: Entirely new communities are being built in various corners of the city, an exercise in reimagining the city’s coastline has replaced post-industrial warehouses with public waterfront parks and pricey residences, and all the while, debates around how to build a city that is fair for all residents has occupied the minds of developers and residents alike.
The COVID-19 pandemic has thrown New York City into crisis, leaving many to wonder if the city and its housing market will ever recover. After 9/11, the 2008 financial crisis, and Superstorm Sandy, similar questions loomed over New York, and the city not only recovered, but home prices and rents soared to heights that spurred gentrification and made Brooklyn a destination city within a city. What lessons can be drawn from these previous events that could guide the housing market in a post-COVID era? How does our current situation differ from the past, and what new challenges could emerge? On this installment of The Neighborhood, we’ll examine the aftermath of the three previous crises for clues to what the future could hold for New York City.
At Curbed, we often tap industry experts for insight on what these changes to our landscape mean, and how they might affect the present and future of the city. The question of how COVID-19 has altered the state of New York City real estate is no different. Their answers speak to what they know as a politician, or a developer, or a designer, and each makes up a small yet crucial part of a larger narrative about what the future of New York City may look like. These conversations are relevant to both industry professionals and the general public, so we’ve decided to open them up for a virtual breakfast and panel series that will explore some of the biggest happenings in New York City real estate and development today.
In partnership with StreetEasy, The Neighborhood series will feature some of today’s top policymakers, architects, and developers, and moderated by Curbed editors. The series, which began at the end of February and will run through June, is free and open to the public via Zoom, but you must RSVP to attend. Learn more about the series and reserve your spot at the link below.