Commercial real estate- Manhattan Coursework Example | Topics and Well Written Essays - 1750 words

Commercial realistic estate- Manhattan - Coursework ExampleDowntown experiences the most rapid growth, followed by Midtown, and finall(a)y Uptown (Wheatonm et al., 2009). In addition, Manhattan has the largest and broadest set-up of business improvement districts (BIDS) in New York (Rudder Property, 2013). They are actually considered one of the key drivers for economic revitalization in the commercial property development.We cannot objectively reap the economic drives of Manhattan without considering the commercial real estate of the County (Wheatonm et al., 2009). Other factors are equally important, especially the overwhelming workforce industry, but this particular sector economically overshadows them in many aspects. To put it, the commercial real estate in Manhattan is undisputedly the worlds most stylish and costly real estate industry going the rescue statistics. In fact, it is the home to the worlds most famous bridges, skyscrapers and parks. The One World Trade Centre, C hrysler Building, Empire State Building and the twin towers are all located in Manhattan (Carlyle, 2014). According to Forbes, the real estate worth of Manhattan as at 2013 exceeded three trillion US dollars (Brennah, 2013). In terms of office space, it is listed as the largest office market in the US (Rudder Property, 2013).Currently, Manhattan is the third most densely populated borough in New York County. With over 1,636,268 inhabitants. This is about a fifth of the commonwealth of the City, and 9% of the state (State and County QuickFacts, 2015). In land area, it is the smallest of the five boroughs. One of the reasons why most tall buildings are located in the area is because of the bedrock which underlies practically of the borough (Moss & Qung, 2012). People have argued that it is perhaps the preferred locations for skyscrapers due to the unique nature of its bedrock from one town to the other (Wheaton et al., 2009According to the information provided by the real estate fir m Douglas Elliman, commercial real