The Waldorf Astoria, under renovation since 2017, is set to reopen in 2021 after extensive renovations. The historic property is in the process of being converted into a mix of hotel rooms and condos. Anbang Insurance Group, a Chinese firm, purchased the property on Park Avenue for $2 billion dollars back in 2014.
By Colin R. O'Leary
January 25th, 2019
The Milken Institute released a new report detailing which cities performed the best economically in the U.S. in 2018. The report includes a list of the Top 25 Best-Performing Large Cities. The report provides a clear look at which cities are currently offering the greatest opportunities for prosperity and innovation.
Key findings from the study show how high-tech industries are continuing to fuel growth in many of these best-performing cities. The top metro areas are enjoying impressive job and wage growth. Housing prices are rising sharply in these cities as well. The national economy is providing a strong base for regional growth in these areas allowing them to thrive.
Provo-Orem, Utah, holds steady at the top of the index's list for the second straight year. The Provo-Orem metropolitan area had a population of 526,810 as of the 2010 census. The report notes the cities dynamic high-tech sector, educated workforce, business-friendly tax laws, and regulatory climate as reasons for the cities continued success. The number 2 city on the list is San Jose-Sunnyvale-Santa Clara, California.
Checkout the image below to see the Top 25 Best-Performing Large Cities of 2018
See the full report here
By Colin R. O'Leary
January 14th, 2019
One Vanderbilt is a new office building under construction in midtown Manhattan, adjacent to Grand Central Station. When completed in 2020, it's roofs height will stand 1,300 feet tall. It's spire will add another 100 feet, making it one of the tallest buildings in Manhattan.
The groundbreaking ceremony was held back in the fall of 2016. The new skyscraper will include 58 floors and 1,600,000-square-foot of office space. The developer constructing the project is SL Green Realty.
Major tenants who have already signed on to lease space in the building include TD Bank, McDermot Will & Emery, DZ Bank, the Carlyle Group, SL Green, Greenberg Traurig, and MFA Financial.