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New York & Tri-State  + New York  + Office  |  January 25, 2024
Emily Fu
By: Emily Fu

NYCEDC Announces First Round of M-CORE Recipients 

The New York City Economic Development Corporation (NYCEDC) and the New York City Industrial Development Agency (NYCIDA) have announced the first round of awardees for the Manhattan Commercial Revitalization Program (M-CORE). WSA Waterfront LLC at 175 Water Street and HPS Investment Partners at 850 Third Avenue were selected as the first awardees. 

M-CORE supports the renovation of aging commercial office buildings to transform New York City’s commercial business districts. The program incentivizes owners to undertake investments that improve the quality of Manhattan’s office stock, create desirable workspaces, and make necessary upgrades for compliance with Local Law 97. 

“I am thrilled by the approval of the first two M-CORE deals and look forward to a future of revitalized, adaptable and dynamic office spaces that anchor downtowns where New Yorkers eat, play, work and study,”  said Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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