Posted Mar 21, 2026, 12:08 AM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
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https://commercialobserver.com/2026/03/new-york-real-estate-future-incentives-safety/
NYC’s Real Estate Future Hinges on Development Incentives, Safety: Panelists
BY AMANDA SCHIAVO
MARCH 20, 2026
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”This event not only serves as a definitive State of the Union event for New York and its real estate industry, but offers very candid insights from the real estate executives and policymakers that are directing the future of New York,” Gross said in his opening remarks. “Today, you’ll hear from real estate and policy experts on everything from how the industry is working to build on momentum for economic growth in the new mayoral administration, to how many developments like 350 Park Avenue are transforming our New York City skyline.”
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Residential development wasn’t the only topic at CO’s Future of New York event. Office development was also top of mind, particularly the development of the planned supertall tower coming to Midtown Manhattan at 350 Park Avenue. The building, a joint venture between Vornado Realty Trust and Rudin, in collaboration with Ken Griffin’s Citadel — which will anchor the building — is expected to be delivered in 2032.
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Paul Darrah, chief workplace officer for Citadel, and Barry Langer, executive vice president of development and co-head of real estate at Vornado, spoke with Jonathan Mechanic, chairman of real estate at law firm Fried Frank, about the progress of the project and the importance of highly amenitized Class A office development in the post-COVID workplace.
“Workplaces have gotten denser,” Langer said. “The ability for you as an employee to get up from your desk, go to an amenity space, go outside to a terrace, and go down to a coffee shop — it is all about how the next generation really wants to work. Having outdoor spaces that are actually usable, shielded from the wind, shielded from the sun, and proper places to put down a laptop makes them much more usable than just having a beautiful landscaping plan.”
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“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
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