After the chaos and uncertainty of the last year, commercial real estate experts are finally getting a clearer idea of what the real value of real estate should be, according to attendees of the recent ULI McCoy Syposium. That starts with a growing consensus that interest rates are not likely to return to the rock-bottom lows that persisted for much of the last 15 years.

In mid-January, ULI New York convened three panels of top real estate experts to unpack local real estate trends for 2023.

Ten projects leverage public and private resources to realize complex new developments.

When Urban Landlast spoke to New York City landlord Leslie Himmel of Himmel + Meringoff Properties in March, vacancy within the nation’s largest office market was hovering just below 10 percent. While that still registers below the market’s peak of 11.7 percent in 2010, according to Moody’s, that rate has continued to drift upwards since March. Urban Landrecently sat down with Himmel for a lively discussion about doing business in a recessionary market amid rising interest rates, and her ongoing search for what she calls “brave money.”

ULI has been establishing dialogue between real estate professionals and climate risk data analytics firms that can help advance the interests of both parties. Enhanced collaboration and understanding between these two sides should continue to improve this evolving space, potentially improving both financial and climate-risk outcomes. As part of these efforts, ULI collaborated with First Street Foundation, a research and technology nonprofit with expertise in assessing physical climate risk at the property level in the United States.

ULI has announced the 2022 New Real Estate Vanguard, made up of ten outstanding contributors to the real estate sector from across the European region. Selected by the European Young Leaders Group of the ULI and Property EU, each will be featured in the second annual Real Estate Vanguard podcast series.

Despite ominous national headlines about New York City office, the vacancy rate is at 9.7 precent in the first quarter of 2022, a full 140 basis points above pre-pandemic levels, according to Moody’s. And, on the ground, New York City office landlords like Leslie Himmel, founder and co–managing partner of Himmel + Meringoff Properties, are doubling down on the city.

Longtime ULI Trustee Jonathan F.P. Rose has been selected as the 2021 recipient of the ULI Prize for Visionaries in Urban Development. Rose recently spoke with Urban Land about his holistic approach to building communities of opportunity.

ULI MEMBER–ONLY CONTENT: Commercial real estate is likely to have a good year in 2021—despite the devastation caused by the coronavirus, according to industry leaders at the 27th annual ULI/McCoy Symposium on Real Estate Finance.

Ten multifamily residential developments capitalize on waterfront locations.