New York City Economic Development Corporation wants you to buy a Garment Center building.
NYCEDC has issued a Request for Expressions of Interest (RFEI) that seeks to identify respondents interested in acquiring and operating property in or around the Garment Center that will provide dedicated space, and therefore real estate stability, for fashion manufacturers.
“Garment production is critical to New York City’s identity as the fashion capital of the world,” said NYCEDC president and CEO James Patchett. “The acquisition of a building in the heart of Manhattan will ensure that garment manufacturing is not only preserved, but has a home in the historic Garment Center.”
Respondents to the RFEI will need to identify a property that would serve as a dedicated home for fashion production. The building will be required to provide affordable long-term leases to fashion manufacturing tenants. The city will commit up to $20 million toward acquisition costs.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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