Bill Rudin talks NYC market, Greenwich Lane: VIDEO

“It’s the trend of urbanism, it’s people coming back [to the city], it’s companies following where employees are."

New York /
Nov.November 23, 2015 02:20 PM

Rudin Management CEO Bill Rudin was on CNBC’s “Squawk Box” this morning, discussing the trends driving the New York City real estate market and providing an update on his firm’s Greenwich Lane condo development in Greenwich Village.

“It’s the trend of urbanism, it’s people coming back [to the city], it’s companies following where employees are,” Rudin said of the factors that have made real estate in New York such a lucrative proposition. “That’s driving the whole market, whether it’s residential or commercial.”

Rudin also provided an update on the Greenwich Lane, his firm’s residential convertion of the former St. Vincent’s Hospital in Greenwich Village, noting that the luxury condo market isn’t all about drawing wealthy foreign buyers.

As Rudin mentioned in a panel discussion at New York University’s Capital Markets in Real Estate conference last week, “70 percent of our buyers [at the Greenwich Lane] are New Yorkers, another 20 percent are from the United States and only 10 percent are foreign buyers.”

He added that the development is already around 90 percent sold, with “about 15 apartments left.”

See the entire clip – which also features Rudin’s thoughts on the high-end, ultra-luxury condo market’s prospects moving forward – embedded above. [CNBC]Rey Mashayekhi


Related Articles

arrow_forward_ios
Only 9 percent of workers had returned to Midtown and 8 percent to Downtown. (iStock)

Where is everybody? City workers still home

Where is everybody? City workers still home
The Real Deal's Hiten Samtani and Rudin Management CEO Bill Rudin

The REInterview: Bill Rudin on remote work, property taxes and the future of tech leasing in NYC

The REInterview: Bill Rudin on remote work, property taxes and the future of tech leasing in NYC
“5 years ago, people would say, what’s a TikTok?” Bill Rudin on why NYC’s office market may be more resilient than you think

“5 years ago, people would say, what’s a TikTok?” Bill Rudin on why NYC’s office market may be more resilient than you think

“5 years ago, people would say, what’s a TikTok?” Bill Rudin on why NYC’s office market may be more resilient than you think
Stagnant water in office buildings may pose risk to returning workers (iStock; CDC)

Empty office buildings may give rise to other health risks

Empty office buildings may give rise to other health risks
Rudin Management's Bill Rudin and 55 Broad Street (Credit: Getty Images and Google Maps)

Charter school inks lease for FiDi office

Charter school inks lease for FiDi office
WeWork's co-CEO Sebastian Gunningham speaks at the launch of Dock 72

What, We Worry? Execs remain confident in WeWork-anchored Brooklyn project

What, We Worry? Execs remain confident in WeWork-anchored Brooklyn project
Bill Rudin and One Whitehall Street and 110 Wall Street

Rudins planning for family estate with rare building sales

Rudins planning for family estate with rare building sales
Rudin Management's Bill Rudin and Michael Rudin with 110 Wall Street (Credit: Getty Images and Google Maps)

Rudin Management’s 110 Wall, home to WeLive, comes to market

Rudin Management’s 110 Wall, home to WeLive, comes to market
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...