The Alliance for Downtown New York has released a report detailing comprehensive data on 2020’s commercial office, retail, residential, hospitality and development projects below Chambers Street.
Major findings included a decrease in commercial leasing levels due to profound economic impacts from the global health crisis, as well as notable closures in the retail and hospitality sectors. Rents dipped as the residential population shifted, but, notably, major projects continued their progress, such as Elizabeth H. Berger Plaza and Peck Slip Park.
New bicycle infrastructure plans were also rolled out, e.g. a new dedicated bike line and an announcement to convert a vehicular lane of the Brooklyn Bridge to bicycle-use only.
For more information, download the Alliance’s 2020 Lower Manhattan Real Estate Year In Review report.