Bloomberg Businessweek The Path of Liberty
Jan 9, 2025
Michael Hershman, CEO of Soloviev Group, dives into the Path of Liberty art installation and its meaning for democracy. He discusses the recovery of office space demand in NYC post-pandemic and the competitive real estate landscape. Hershman highlights the rise of green energy and the role of high-tech firms in transforming agricultural land. He also addresses the importance of community projects like Freedom Plaza, emphasizing the contributions of immigrants to American society and the upcoming celebration of the Declaration of Independence's anniversary.
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High-Tier Commercial Real Estate Performance
- Soloviev Group's high-tier commercial buildings in NYC are thriving, despite the downturn in the real estate market.
- Their top-tier buildings, like 9 West 57th Street, are performing very well.
9 West 57th Street's Transformation
- 9 West 57th Street, built in 1974, was initially considered ugly by the architectural community.
- However, it later won awards and now boasts a 97% occupancy rate.
Green Energy Growth
- Soloviev Group is experiencing exponential growth in green energy, particularly in wind and solar.
- The increasing demand for data centers and AI is driving the need for more energy.