The Real Deal New York

Brookfield’s Rudin sees opportunities in Lower Manhattan

August 02, 2011 01:51PM

There are more opportunities than challenges in the current Lower
Manhattan real estate market, Mitch Rudin, the new president and CEO
of Brookfield’s U.S. commercial property holdings told
Brookfield recently announced its $250 million redevelopment plan for
the World Financial Center. With $20 billion in public-private
investment in the area, Rudin said the neighborhood is changing beyond
just a hub for the Financial District, as the entertainment,
publishing (such as Conde Nast) and legal industry move in.
“If there is a decline in any particular industry, you are able to
position that by bringing in new,” he said. The area is now a “24-hour
environment,” he added, with its retail and residential growth, as he
noted that he thinks the World Financial Center “is going to be one
of the most exciting neighborhoods in the city.” [GlobeSt]

One Response to “Brookfield’s Rudin sees opportunities in Lower Manhattan”

  1. August 01, 2012 at 12:55 pm, Brookfield could struggle filling WFC | Trans Corporation said:

    […] stands at 12 percent and will soon rise to 15 percent. While brokers and Brookfield have said they are encouraged that some 19 leases of more than 25,000 square feet have been signed by companies moving downtown […]