Pryor Cashman Partner Wayne Heicklen recently spoke with Law360 for its March 13, 2013 article, “NYC Outer Boroughs Lure Hungry Developers,” which discusses the surge of real estate developers looking for new developments and low-priced land in New York City’s outer boroughs.

According to the article, as demand continues to rise for multifamily properties, developers are looking deeper and deeper into Brooklyn, Queens, the Bronx and Staten Island to find profitable properties and cheap land.

 “The market for new product is incredibly active right now,” says Heicklen, who is co-chair of the firm’s Real Estate Group. “Rentals have been leading the way for a variety of reasons, and anybody who could either buy or develop new rental product is feeling very good about their upside right now.”

To read the article from Law360 in its entirety, please click here.