I
t's been a tumultuous year for New York City developers and landlords, with state and city legislation, office tenant whims, and Federal Reserve actions reshaping the real estate landscape. Amidst this chaos, Nikolai Katz Architect emerged as the most active firm, filing 15 initial permit applications for projects over 10,000 square feet.
Many of Nikolai Katz's projects were medium to small in size, while other firms like SLCE Architects and Gensler tackled fewer but larger projects. SLCE surpassed 2 million square feet across seven significant projects, including a massive conversion at 219-229 East 42nd Street. Gensler also excelled in office-to-residential conversions, with a vast majority of its eligible applications linked to this type of project.
The year was marked by challenges such as an unforgiving interest rate environment and changes to tax breaks and zoning regulations. Development sites became increasingly scarce, making it difficult for multifamily real estate development. However, the City of Yes legislation loosened zoning restrictions and increased density allowed for multifamily developments, offering a glimmer of hope.
The Real Deal's most active architects ranking is based on initial permit applications filed through December 3 for projects over 10,000 square feet. The top five firms are:
1. Nikolai Katz Architect | 15 applications | 296K sf
2. Leandro Nils Dickson Architect | 12 applications | 258K sf
3. S. Wieder Architect | 10 applications | 751K sf
4. IMC Architecture and Gerald Caliendo Architects (tied) | 8 applications each
Other notable firms include SLCE Architects, Gensler, Aufgang Architects, Fred Geremia Architects & Planners, Baobab Architects, and Lester Katz, who all filed between six and eight applications each.
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