At NYCCREA, we believe the Green Fast Track is more than a housing policy — it’s an economic policy. We see this policy as a real turning point. By cutting through years of red tape, the city isn’t just helping housing get built faster — it’s also pushing forward climate goals and creating fresh momentum for commercial real estate.
We at the New York City Commercial Real Estate Advisors (NYCCREA) brokers are excited to share why Atlantic Avenue is Brooklyn’s Best CRE Opportunity in 2025. After more than a decade of community input, this plan was officially adopted by the City Council on May 28, 2025, and it represents a bold reimagining of one of Brooklyn’s most important east–west corridors.
A proposed rent freeze in New York City could gut investor returns, making many office-to-residential conversions financially unworkable. Office conversions offer a quicker path to creating new housing as a rent freeze provides long-term affordability for tenants.
At the core of Mamdani’s agenda is his most controversial promise: a citywide rent freeze on nearly one million rent-stabilized apartments. These units house more than 2 million residents and form the largest share of the city’s affordable housing supply. Supporters see it as a lifeline for overburdened tenants; critics view it as a financial time bomb for building owners already squeezed by rising costs.
The long-anticipated rollout of New York’s downstate casino licenses is entering its final stretch, with bids intensifying and public scrutiny rising. The state is finally poised to grant up to three licenses in the New York City region by December 2025. With 8 billion-dollar proposals duking it out, what are the developments that we should know?
The numbers are striking. Leasing activity hit nearly 724,000 square feet this quarter, a 22.6% jump from Q4 2024. Brooklyn and Queens dominated, locking down nearly 84% of this volume. This isn’t just noise—it’s a signal.
E-commerce activity saw a significant boost from Q4 2024 to Q1 2025, with its share of users climbing from 3% to 15%. However, other sectors experienced a decline: manufacturers’ share dropped to 16% from 21%, and retail/wholesale’s share plummeted from 28% to 4% quarter-over-quarter. How is NYC coping with the industrial headwinds?
June 27 marks a critical milestone—the deadline for submitting casino applications. After that, Community Advisory Councils will officially form, hold public meetings, and gather input from residents. The race to secure one of New York’s three coveted downstate casino gaming licenses is nearing a pivotal phase: a high-stakes bet on the future of New York City’s commercial real estate.
The Midtown core’s recovery—especially the standout performance of Sixth Avenue/Rockefeller Center—demonstrates the power of strategic reinvestment and prime location in reviving demand for commercial office real estate. As of early 2025, leasing activity remains robust, Better Buildings are outperforming, and key tenant sectors are committing to long-term leases. The steep investments made over the past 15 years are clearly paying dividends, not only in terms of occupancy but also in tenant quality and long-term value.
Manhattan’s retail sector is experiencing a cultural renaissance in 2025, driven by a new wave of tenants rooted in fine arts and immersive entertainment. As New York retailers and landlords seek to deepen consumer engagement and drive foot traffic, artistic and interactive experiences are redefining the role of retail spaces—not just as storefronts, but as destinations.