The coronavirus pandemic could boost interest among renters and buyers for new residential development projects in Glen Cove, according to Newsday.
Moody’s Investors Services pointed to RXR Realty’s Garvies Point development (above) as a potentially attractive alternative to urban living, citing its “easy access to New York City and available housing.” Around 200 of 550 or so completed condominiums and apartments have been rented or bought.
Jonathan Miller, president of appraisal firm Miller Samuels, noted that the pandemic has “lengthened the tether between work and home” and accelerated a shift toward remote working. “We’re seeing this reassessment of proximity to work, and Glen Cove would fall in that category,” he said. [Newsday] — Dennis Lynch