In some ways, 2019 was a continuation of the past few years: political and global uncertainty loomed over the New York real estate market, development continued at a steady pace, and prices were as high as ever. (Oh wait -- they were actually higher.) But the year also brought notable changes, from a total overhaul of rent and tenant protections, increased urgency in regards to climate change, an increasingly buyer's market, and dry-up of the once pervasive rental concessions. So what's in store for the year ahead? Real estate experts believe sustained political uncertainty -- particularly around an election year -- could mean buyers proceed cautiously. The new rent laws will undoubtedly shape New York, as both the rental and condo markets tighten. Pre-war design will make a comeback in defiance of glassy modern architecture, while the focus on sustainability will increase and amenities will become more flexible.
Keep reading for the 6sqft's full roundup of 2020 predictions.