2012-08-27 | 2012-08-27
Good Morning New York! Here’s the Real Estate News:
Rental building shows Williamsburg real estate market is still white hot
Last Monday at 7 p.m, the sign-up sheet at 65 N. Sixth St. just off Wythe Ave. kept getting longer and longer. Couples, some with children, pranced through model units at the relaxed open house that picked up steam as the sun set and work hours wound down.
On Top of Spaghetti
NOTHING in Lyndsey Butler’s background suggested that she would create some of the fashion world’s more celebrated jackets. The daughter of a Texas couple who ran a construction company, Ms. Butler grew up in San Antonio and at her parents’ ranch in Argentina. Starting at age 8, she began riding horses competitively and along the way won a lot of blue ribbons.
Running out of space to bury New York City’s dead
It’s hard enough to land prime real estate in New York City during life, but soon it will be even harder to find it for the afterlife. New Yorkers are facing a shortage of space for them to rest in peace. Large cemeteries like the historic Green-Wood cemetery in Brooklyn could be out of room for new graves in as little as ten years, officials told Metro.
Trulia vs. Zillow: The Battle for Online Real Estate
Unfortunately, in this post-Facebook IPO world, investors are less willing to take a chance on a company that hasn’t turned a profit. That wasn’t the case for Zillow when it went public in July of 2011. It priced at $20 above its planned range of $16 to $18 and shot up to $60 on its first trade. Its first-day return was 79%, By December 2011, Zillow’s stock was down to around $21.
Trinity Wants to Modernize Hudson Square Zoning
The public review process has begun on a rezoning that Trinity Real Estate has been pursuing for some time. The real estate arm of Trinity Church wants to create a special Hudson Square District in Midtown South that would create a 24/7, live/work environment, allowing for residential development in a neighborhood that, notwithstanding its reinvention as an office hub for creative tenants, is still zoned primarily for manufacturing.
Developers in Power Struggle
A battle between two powerful New York developers over one of the city’s most valuable development sites is getting litigious. For months, landlord Vornado Realty Trust had been trying to strike a deal to remove rival Extell Development Co. from 220 Central Park South, a former apartment building in which Extell controls a basement parking garage on a lease that runs until 2018. Since 2005, Vornado has wanted to raze the building and put a condo tower in its place, but it is being held up by Extell, which also owns a neighboring development site and has resisted Vornado’s offers to buy it out of its lease.
Dealmaker for the Shotmakers
When Maria Sharapova decided that she wanted to stay at a new hotel for this year’s United States Open, her agent, Max Eisenbud, embarked on a reconnaissance mission. He met with management and interviewed security officials. He toured suites and tested room service. He took a taxi from the lobby entrance to the Midtown Tunnel, mapping out the fastest route to the tennis center in Queens.
A Ghost Town on 20 Acres in Brooklyn
The developer Douglas C. Steiner recently reached an agreement with the Brooklyn Navy Yard Development Corporation to convert this 20-acre site within the industrial complex into a media and technology hub.
Sleepwalk to Work
IT took a while for Athanasios Biros to solve the mystery of his noisy upstairs neighbor. Mr. Biros, 35, who works for a bank, at first suspected a bartender with odd working hours lived above his studio in Greenwich Village. Then he heard a pounding noise at 7 in the morning. “I just snapped,” he said. He knocked on the door, and met his neighbors, an Eastern European family with a child.
Ponzi scheme swindled boro Latinos of $1.3M
A Long Island City woman will spend three to nine years behind bars for bilking 30 people out of their life savings, but her alleged co-conspirator is still on the run, the Queens district attorney’s office said.
New York’s upper East Side is rich in new and affordable restaurants and bakeries
They’re uptown eateries with a downtown feel. A crop of trendy restaurants and bakeries have opened on the upper East Side in recent months, bringing with them gourmet doughnuts, handcrafted cocktails and Indian staples. We check out five newcomers who are giving the neighborhood affordable, delicious bites with a ton of personality.
Why I’d Rather Live with Rats Than Look for a New Apartment in NYC
I found my first Manhattan apartment through sheer luck. An aunt in Belgium, a chance email, and suddenly I was sharing a two-bedroom apartment in a walk up in Hell’s Kitchen, with a Duane Reade on the corner and a place with beyond decent coffee on the same block. It was nothing less than an act of God.
Big Ticket | Sold for $21 Million
A penthouse with sophisticated steamed-beech-dominated interiors by Charles Gwathmey and sweeping views of Central Park from its perch at the Verona, an Upper East Side co-op designed by William E. Mowbray in 1908, sold under the radar for $21 million, the biggest sale of the week according to city records.
Lenore Skenazy: Living large … in small spaces
If you can make it here, you can make it anywhere. And by that I don’t just mean New York, N.Y. I mean the newest apartments New York’s Mayor Bloomberg wants to develop. They will be 275 to 300 square feet.
What’s the Deal
Frank Hirth LLC is relocating to the Financial District in a move that will double the international accounting firm’s office space for rent at least 40% less per square foot than its current Midtown location.
Lightstone Reveals Plans for 700-Unit Colossus on the Canal
A team of execs and development professionals appeared before members of Brooklyn’s Community Board 6 and the public yesterday to present plans for the former Tolls Bros. site between Bond Street and the canal at 1st Street. The project is now going to be rentals, with 700 units instead of the 447 condo units Toll Bros.
Co-Ops vs. Condos
Condos and co-ops are attractive alternatives to single-family home-ownership. For those who are young and starting out, these types of properties offer a taste of what it is like to own a property. For those who are older, condos and co-ops allow for an easier living lifestyle without maintenance worries.
Roof still on US Open’s long list of improvements
Someday, a roof will cover Arthur Ashe Stadium at the U.S. Open. But it will cost a lot – at least nine figures – and it won’t delay other projects that leaders of the USTA believe are mandatory at the home of the year’s final Grand Slam. Currently, there are roofs on the main stadiums at Wimbledon and the Australian Open.
Beastie Boys’ Adam Horivitz’s Shocking Gay… Apartment Building
Activists and politicians are working to save a building in New York’s Greenwich Village that was once owned by Beastie Boy Adam “Ad-Rock” Horovitz, claiming it’s a landmark for the city’s gay community.
DIG says time was right for New York hotel sale
Chicago-based Strategic Hotels & Resorts on Saturday confirmed an agreement with Dubai Investment Group to buy a luxury New York hotel for $362.3m to be rebranded JW Marriott. The purchase price included 509 hotel rooms, nine condominium units and significant hotel-level cash reserves, it said.
Chrysler Building and other NY skyscrapers are underpaying for water due to old meters
A stunning 15,000 aging water meters in some of the city’s iconic structures — including the Chrysler Building — need to be replaced so that the Department of Environmental Protection can bring in an additional $43 million per year, a report of the agency’s finances obtained by The Post shows.
South Street Seaport Revamp Clears Hurdle
Howard Hughes Corp. said Thursday that it has reached an agreement with the New York City Economic Development Corp. on its plan for modernizing the Pier 17 retail complex at South Street Seaport, and that the plan has received the blessing of the Landmarks Preservation Commission, with the support of Manhattan Community Board 1.
LGBT-Friendly Synagogue Races to Raise $4M for New Building
The world’s largest LGBT synagogue has raised millions of dollars toward building a new, permanent home since buying space for it last year — but leaders fear that a $4 million fundraising shortfall may delay it from opening for the shul’s 40th anniversary.
For more information about reprints & permissions, visit our FAQ's. To report corrections and clarifications, contact Standards Editor Lisa Prado. For publication consideration in the newspaper, send comments to hello@brokerPulse.com. Include name, phone number, city and state for verification.