Extract
Developers begin to see the light.
Two of the city's most active developers have emerged from their hibernations and are talking about the market being ripe for new buildings.
Using similar words, they described their efforts to "stay alive until '95," and their individual determinations that the market is just about ready for new product. Nothing has been constructed in the last five to seven years, they observed, and the positive absorption has finally created a demand for both technologically advanced commercial space and high-end residential units. Developer Harry Macklowe provided an upbeat but cautious look at both the residential and commercial sectors to the National Realty Club luncheon held last week at the 60 Ea...See the full content of this document
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