Brooklyn’s real estate – particularly in Bushwick – lights up
Bushwick, Williamsburg’s neighbor to the East, has become an increasingly desirable area, as artists looking for cheap, large space found solace in the embrace of the neighborhood’s commercial loft spaces. Another factor contributing to Bushwick’s appeal is the influx of art galleries and pop-ups that have recently moved into the rows of warehouse spaces. Both occurrences are the seeds for residential real estate investment, but the shift is not bound to occur overnight. One reason is zoning – the Department of City Planning has not passed rezoning on the northwest section of the neighborhood, and as a result few new condo developments have hit the horizon lately. Yet, developers are optimistic regarding the possibility of future zoning changes and the area’s continuing upward trend.

High-end retailer Nordstrom arrives to Manhattan
Nordstrom — the upscale department store — is finally near a deal to open a flagship store in Manhattan – specifically 225 West 57th Street between Broadway and Seventh Avenue. The retailer, plans to anchor a future skyscraper that will be built by New York real estate mogul Gary Barnett. Nordstrom is planning to build a 300,000 square foot store with seven floors. The company is best known for its customer service, the breadth of its shoe department and its longstanding relationships with designers like Dolce & Gabbana, Hugo Boss, Marc Jacobs and See by Chloé. With the addition of Nordstrom, the West Side, which already boasts the Time Warner Center, will become a hot retail destination that’s competitive with the East Side.

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Riccardo Ravasini