Mixed-use walk-up building for sale on Delancey Street.

Small walk up building located on Delancey Street – for sale

Location:Lower East Side

Building Sq. Ft.: approx 9,000 sqf

Price per Sq. Ft.:961

Price $ Between 9 and 10 million.

Capitalization Rate:4.17

blanca@manhattanlifere.com

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“…Owners are looking to identify technology-enabled real estate concepts that could grow their business,”

I often imagine future urban landscapes as dynamic cybernetic living organisms. Intelligent spaces will be able to combine aspects of our lives to create an all encompassing, creative, and healthy community. Every square foot will be smart and usable. Imagine. The air space as we know it, will be utilized for additional building, given that people will probably enjoy extended lives through bioengineering. Architectural shapes, design, and materials will also have to adorn the sky creatively in order to facilitate movement and community between buildings. On average, it appears that currently most people can live up to 90 to 95 years old, and that can translate to working beyond retirement years. Property management software is already impacting building occupancy, financial reporting, and to some degree, it is freeing property managers to focus more on the macro qualitative aspects that software and intra link digital systems can’t do. Coworking and coliving will begin to mirror in experience. “Proptech” will continue to lead an aggressive, and progressive shift in business models and services provided. Institutional commercial and residential real estate owners who acknowledge the inevitable shift, area already investing in tech that will give them an edge over their competitors, while also spearheading a new global market. Understanding that if they don’t forge ahead and take a risk in investing in the given emerging landscapes, that someone else will, thereby also diluting or disrupting their marketshare. Coworking and Coliving are just the roots of a mobile, digital ecosystem addressing needs in segments that include, but are not limited to: property management, security, health, natural energy, global warming, and space use. I wonder how this creative cohesion and integration of new tech and space will affect privacy. Already, while we navigate the digital spaces, most of us are leaving trails of data points that others collect and repackage in the form of algorithms. Will people yearn to disconnect from what might be inherent, and constant surveillance? Or will the advantages be great enough that people will accept constant integration into the “machine.” What will this mean for small business owners who will be disrupted because they can’t afford to invest or curate technology that will put them into the forefront of their competitors?