If you’ve decided to build a new condominium or apartment building in NYC, you are likely going to need the help of some real estate developers. While you can muster through all the red tape yourself, it can be time-consuming and may come with a lot of aggravation and expense if you do things incorrectly. It is usually best to hire someone to help you muddle through everything, especially someone who has years of experience.
What Do They Do?
Primarily, NYC real estate developers are like an engine that propels the growth of the industry. They can help you acquire properties or land to build condos and apartment buildings. Likewise, they can help you plan and develop the project, whether you choose it for residential or commercial purposes. Commercial uses can include retail, industrial development, offices, and so much more. The options are seemingly endless and only halted by your imagination, though it is important to choose the right developer.
What Skills Should They Possess?
You will need to seek out a developer that is well-rounded because development is complex and requires a lot of different skills. Search for someone that can be analytical and organized, as well as help with marketing, financial needs, and communicates effectively.
Your developer will need to have financial skills so they can decide when and why to purchase, develop, finance, and/or sell/lease the property.
What Education Do They Need?
NYC does not require real estate developers to have particular skill sets or set coursework. However, you should be on the lookout for people or firms that employ those who have degrees or backgrounds in planning, law, architecture, business, real estate, science, and more. They will likely need those qualifications to do their job effectively. However, firms may hire multiple people, each with a different background, meaning you will work with a team of top individuals in their field.
