New York, 27-11-2021: Due to a plethora of reasons, many residential and commercial properties are often left in desolate states, especially across major metropolitans like New York and New Jersey. These buildings require heavy renovations and reconstructions to add value and give the public an incentive to avail these properties. Many businesses are focusing their efforts on redevelopment but lack the necessary capital. Property repositioning efforts can take on hundreds of thousands if not millions of dollars depending on the scale of the property, which often makes them less accessible for various businesses.
To help businesses taking on redevelopment projects across New York and New Jersey, Sami Souid, CEO, and Gotham Assets are working on profitable and viable ventures. Gotham Asset is a private real estate owner, investor, and operator that deals in the acquisition and redevelopment of commercial and residential properties. They’re helping with the redevelopment of properties across select US markets and believe the venture can do great work.
“We believe that redevelopment projects are crucial. It helps make the most out of existing buildings. Many people see potential and have excellent ideas but lack the monetary means to execute their plans. We take a look at the venture and its viability in detail, but if it's up to our alley, we're more than happy to fund the project as it seems fit. We feel a sense of pride in utilizing the space properly as well” Sami Souid stated.
Redevelopment projects emphasize utilizing pre-existing spaces rather than taking on additional construction. They also help create a better market for the region. Similarly, they also create a demand for housing and other commercial properties in the sector which can help depopulate some areas of the city which are getting crowded. In the case of commercial construction, they also create more jobs for people.
Gotham Assets offers appealing terms to invite more people to work with them. They've been in the industry for several years and have worked across various residential, commercial redevelopment, and reposition projects of different scales across various markets.