09:13:36 | 2012-11-06
Good Morning New York! Here’s Some Real Estate News to Get You Started:
Gov. Cuomo: New Yorkers can vote at any polling station because of Hurricane Sandy
With thousands of voters displaced by superstorm Sandy, Gov. Cuomo on Monday issued an unprecedented emergency order granting New Yorkers in disaster-affected counties the right to cast their ballots at any polling place in the state. But with polling places destroyed, voters’ lives upended and an election board known for botched balloting even under ideal conditions, voters are bracing for Election Day chaos in the aftermath of the storm.
Digging out Staten Island after Sandy
My hand hit a hard object as I reached to clear a pile of storm debris from the driveway of a white house on Staten Island’s Fox Lane. It was a little boy’s piggy bank. The glass jar – decorated with stars, spaceships and the name “Daniel” in carefully written script – was intact. But the pennies saved up were missing, replaced by murky water.
Some Voting Places Being Moved in Storm-Ravaged Northeast
Officials in storm-battered New York and New Jersey created a system to enable hundreds of thousands of residents to cast ballots away from precincts that were damaged by Hurricane Sandy. More than 250 polling places in New York City, its suburbs and two hard-hit coastal counties in New Jersey were shifted to alternate locations because they were in Sandy’s destructive path.
Micro Units Proposed to Make New York City Living Affordable
It’s not exactly news that apartments in New York City are expensive and in short supply. In an attempt to alter that dynamic, Mayor Michael Bloomberg announced this summer an experiment that might actually increase the availability of housing in the city.
Real estate, Italian style! 400 Fifth Ave. residence even has Fendi carpets
They just do style better in Italy. Take a look at someone from Milan, Rome, Florence or Venice. The men wear crisp shirts, fitted pants and tight, colorful socks. The women always look well-appointed in patterned shirts and pencil skirts with hair pulled straight back or flowing just right. That same feeling of fashionably hot comes over you when you walk into the lobby at the Residences at 400 Fifth Ave. at 36th St. Gold, creams, browns, steel and large marble tiles give the feel of a high-budget action film. Even the building’s entrance is framed in stainless-steel accents, forming a rectangle over revolving doors.
Where will housing be found for Sandy’s victims?
Government leaders are turning their attention to the next crisis unfolding in the aftermath of Superstorm Sandy: finding housing for potentially tens of thousands of people left homeless.
Real estate companies join Sandy relief efforts
Realtors and real estate companies — many of them hard hit by Hurricane Sandy themselves — are bolstering official relief efforts for storm victims with initiatives of their own. In the U.S., more than 100 people have been confirmed dead in Sandy’s wake, and about 1 million people are still without power in Lower Manhattan, Staten Island and parts of New Jersey, Forbes reports.
Dangling Crane Is Marketing Gold For Luxury Tower
For most businesses, being in the headlines for endangering thousands of human lives would considered a liability. Unless, of course, you’re One57. One57, the high-priced condo tower overlooking Central Park, was the subject of countless news stories after its crane boom blew over during Superstorm Sandy and dangled dangerously above the streets of midtown.
Climate Change and Sandy’s Impact in the Age of Inequality
One clear lesson in the wake of Hurricane Sandy is that extreme weather in the age of climate change and global warming knows no class, race and privilege boundaries. Many, many communities in the New York metropolitan area need help, but as David Rohde wrote this week inThe Atlantic, “Sandy humbled every one of the 19 million people in the New York City metropolitan area.
Settlement reached in Empire State Realty Trust suit
The group leading an effort to create a publicly traded company with the Empire State Building as its centerpiece has agreed to pay $55 million to settle a class-action lawsuit that sought to stop the deal, according to a regulatory filing. Malkin Holdings LLC, which plans to create the Empire State Realty Trust Inc, and its partner, the estate of Leona M. Helmsley, were sued by some investors in the more than 18 properties that will constitute the proposed real estate investment trust.
At Red Hook Houses, an enclave of fast-moving, efficient altruism
The morning after superstorm Sandy pushed the waters of the New York Harbor up and over the streets of Red Hook, a staff member of the Red Hook Initiative, a neighborhood community center, cautiously checked on the organization’s headquarters.
Construction Work Resumes At WTC Post Sandy
With power restored in much of Lower Manhattan and businesses returning to normalcy after super-storm Sandy ripped through the Tri-State Area, one of the area’s biggest assets – the World Trade Center – is coming back, too.
Sandy: What a Coastal U.S. Can Learn from Other Threatened Cities
It was called the Watersnoodramp, which in Dutch means “flood disaster”—and it certainly was. The North Sea flood of 1953 was the result of a high spring tide that met a strong storm, resulting in a storm surge that inundated the countries around the sea. Lives were lost in England, Scotland and Belgium, but the worst of the surge was felt in the Netherlands.
Deutsche Bank Boss Anshu Jain Invests in $7.2 M. Beacon Court Spread
Deutsche Bank CEO Anshu Jain has played a central role in building the bank’s investment banking business over the years, the arm that accounts for the lion’s share of Deutsche’s profits. So it should come as no surprise that Mr. Jain, who took over as Co-CEO of the bank with Jürgen Fitschen in May, decided to plunk some of his personal funds into the New York real estate market.
September home sales drop sharply despite record low interest rates
Reversing recent monthly trends, home sales in September took a sudden dive, dropping 14.5 percent from a year ago, according to a new report from the Buffalo Niagara Association of Realtors.
Sandy relief efforts growing in Albany region
A growing number of businesses and organizations in the Albany, New York, region are helping victims of superstorm Sandy. Non-perishable food, bottled water, baby formula, blankets, sheets, trash bags, cleaning supplies and personal hygiene products are being sought.
Some Sandy victims check into Albany-area hotels
Some victims of superstorm Sandy are starting to trickle into hotels in the Albany, New York, area as power outages continue plaguing hundreds of thousands of people on the East Coast and overnight temperatures drop into the 30s.
G-Train Pumped Dry But Repairs Remain, L-Line Still All Wet, A-Train Returns to Inwood
Since we have become your defacto North Brooklyn subway depot—just take a look at the Popular Stories box right now—here is the latest from those skinny-pants filled lines. According to the MTA’s evening service advisory, the Newtown Creek tunnel on the G-train has been pumped out while pumping work remains for the L.
Even Though West 57th Street Has Reopened, One57’s Powerless Neighbors Wait to Move Back
It’s true of communities across the city, so why not West 57th Street? From the Rockaways to Staten Island, people have returned to their homes and businesses but found them without power, and the same seems to be going for the one-block stretch of the city that was shut downafter the crane boom of One57 snapped back.
Post-Sandy, Two Icons Emerge From the Architectural World
The wake of Hurricane Sandy was a divisive one for New York City, demarcating the island between the have-powers and have-nots. Amid the chaos and the peddling of thumbs waiting for power to return, however, two contributions from the architectural world have been able to make light of the darkness.
Millions Still Without Power as Temperature Nears Freezing in Eastern US
One week after Hurricane Sandy pummeled the Eastern Seaboard of the United States with high winds and a record storm surge, nearly two million homes and businesses remain without power in New Jersey, New York and Connecticut as temperatures fall near the freezing mark.
8-story residential building now in the works for 75 First Ave.
Sandy apparently took down the plywood outside 75 First Ave. last week…Provides a good look at the lot and an opportunity to update the situation here. Back on Oct. 26, Off the Grid noted that there’s a new permit on file (not yet approved) calling for an 8-story residential building. The original plans in 2007 called for a 14-story building that looked like this…
MTA: ‘Getting the G and L Running Again Is Our Highest Priority’
The people of North Brooklyn can be an entitled bunch (as a local, this reporter can personally testify to this). After all, the lights, even the Internet stayed on through most of the storm, and property damage was minimal, even for those condos cum punching bags on the waterfront. Still, standing outside in the freezing cold while one packed B62 after another blows by your stop is not a very comforting feeling.
Treasure Island Storage Buys USPS Building in Queens for $6.55M
Treasure Island Storage, a self-storage operator with 10 facilities throughout New York City and New Jersey, has bought an 84,000-square-foot industrial building in Queens from the U.S. Postal Service. Located at 78-02 Liberty Ave. in Ozone Park, the site has been used as a mail-sorting facility for the past 30 years. The building sold for $6.55 million. Israel Discount Bank of New York provided a $6.8 million loan on the property to finance its acquisition and renovation, according to Ken Cayre, president of Cayre & Sons Acquisitions, the company controlling Treasure Island Storage.
Where Boardwalks Beckoned, a Way of Life Lies in Splinters
Of course the boardwalk had changed over the last 100 years: Carousels switched to electric from gas power, sunblock replaced baby oil, stuffed animals supplanted cigarettes as prizes at the booths where the barkers found new ways to wrangle dollar bills from the tourists who flocked to the Jersey Shore.
Schools Reopen to Snarls; Transit Headaches Persist
In Lower Manhattan, students shivered in school buildings that had lights, but no heat; on Staten Island, they sat by classmates whose homes had been destroyed; and in every borough, some students stayed home as the city used their classrooms, hallways and gymnasiums as shelters.
A Guide to When to Pay Rent, or Not, After Hurricane Sandy
One of the most frequently asked questions about life in a Sandy-affected building has been this: do tenants of buildings in Zone A need to pay their rent for the time they’ve been evacuated? We offered some preliminary advice on this over the weekend, and we’ve since reached out toreal estate attorney Adam Leitman Bailey for more information.
Disaster expert hired to help Sandy’s New York homeless
The disaster expert who led the federal government’s New York recovery effort after the 9/11 terror attacks was tapped Monday to direct the city’s effort to house thousands left homeless by Superstorm Sandy. Brad Gair, a former Federal Emergency Management Agency recovery officer and Brooklyn resident, will immediately start mapping a comprehensive housing recovery plan.
Start-Ups Move Fast to Revive Operations
With power returning to lower Manhattan, New York City’s technology start-ups are booting back up. Online design store Fab.com Inc., prescription-eyeglass seller Warby Parker, Internet luxury retailer Gilt Groupe Inc., online publisher Buzzfeed and men’s fashion retailer and publisher Thrillist all reopened their offices on Monday for the first time in a week.
New York’s Wall Street: Open for business, getting back to normal
Those who work in Manhattan’s financial district faced longer commutes — if their businesses were open — but otherwise met a downtown that was lurching back to life after Sandy, however haltingly. The symbolic heart of the city’s financial district, the New York Stock Exchange, was up and running a week after the super storm shuttered American financial markets for two days.
Chelsea Residents Frigid As Fulton Houses Regain Power, but No Heat
Since Sandy struck last week, Gladys Torres and the five relatives staying at her apartment in the Robert Fulton Houses have relied on boiling water for heat. Pots filled with water bubble at all hours on the stovetop. At night, they position pots of hot water near where they sleep in the living room. They take shifts crawling out from blanket cocoons and replacing water that has cooled with freshly heated pots.
NY Guard soldiers continue assisting Hurricane Sandy victims
A week after Hurricane Sandy, parts of New York City and Long Island are still without power. It’s getting colder. Some places are still without water. Looting is a problem. On Monday hundreds of New York Guard and Air Guard soldiers were continuing to assist residents in portions of Staten Island, Brooklyn and the Rockaways on Long Island.
Carnegie Hall to Remain Closed on Tuesday
Despite the reopening of West 57th Street on Sunday, Carnegie Hall was forced to cancel concerts on Tuesday because utilities had not been restored to the building. Carnegie said the Emerson String Quartet concert in the Stern Auditorium would take place on Jan. 7, and a performance by the Belcea Quartet in Zankel Hall, part of the Carnegie complex, was canceled.
‘Saturday Night Live’ host Louis C.K. brings perspective to city devastated by disaster
Comedian Louis C.K. brought laughs to a city reeling from the destruction of Hurricane Sandy when he hosted “Saturday Night Live” Saturday. But before taking the stage, he penned a sincere note to fans expressing how he felt about performing just days after the devastating natural disaster hit.
Designer Marc Jacobs Lost Home in Hurricane Sandy
Designer Marc Jacobs was among the hardest hit by Hurricane Sandy last weekend — telling TMZ, he completely lost his Manhattan apartment due to flooding … and now, he’s looking for a new place to live. Marc was out walking his dog Friday in New York — and he told us, he had to move uptown temporarily because Sandy completely destroyed his West Village apartment.
The Chelsea Market Deal, brought to you by ULURP
On October 19th, I and others met with City Council Speaker Christine Quinn to discuss Jamestown Properties’ proposed rezoning of Chelsea Market, aimed at adding over a quarter-million square feet of office space to the historic complex. I twice asked Speaker Quinn just how she saw the proposal making sense on zoning basics of use, bulk or environmental impact.
With $200 Million in U.S. Housing Aid, Officials Begin Relocating the Displaced
Officials said they were working on Monday to provide temporary housing for people displaced by Hurricane Sandy despite confusion and conflicting accounts of how many needed places to live. “We don’t really know yet, in truth,” Gov. Andrew M. Cuomo said at a briefing, adding that the estimates ranged from 10,000 to 40,000 people.
Ralph Lauren to blow whistle on 2 Rugby stores
Two retail spaces in popular Manhattan neighborhoods might be hitting the market very soon. Ralph Lauren Corp. announced late last week that it will be shuttering its preppy Rugby brand in order to focus on better-performing brands. Rugby has two Manhattan locations: a 2,500-square-foot space at 99 University Place in Union Square and a 1,000-square-foot outpost nearby at 390 Bleecker Street in the West Village.
Bloomberg aide delivers marathon leftovers to Sandy’s victims after generators taken away
After five days of watching desperately needed supplies, such as generators, heaters and cases of food and water, languish in Central Park — wasted remnants of the city’s 11th-hour decision to cancel the marathon — a top mayoral aide last night picked over what was left and personally drove it to storm-ravaged Staten Island.
Fed may put up FEMA trailers in New York to house tens of thousands whose homes were devastated in superstorm Sandy
Federal authorities may use thousands of pre-fab trailers to house New Yorkers displaced by superstorm Sandy as a new nor’easter moves into the region. Homeland Security Secretary Janet Napolitano said Monday 4,800 staffers from the Federal Emergency Management Agency are in the area, working to solve the mammoth housing crisis — and that solution may include trailers and pre-fab houses similar to those deployed after Hurricane Katrina.
IHG CEO discusses delay in sale of New York Barclay hotel
InterContinental Hotels Group’s plan to sell its landmark InterContinental New York Barclay hotel is taking longer than expected but the delay could ultimate benefit the hospitality giant, IHG’s top officials told London analysts this morning. Speaking to analysts about IHG’s third-quarter earnings, CEO Richard Solomons said that instead of talking exclusively to one potential buyer about the Barclay, they’re now opening up the hotel’s sale to a wider group of buyers. They expect they’ll be able to “extract maximum value.”
Tenants at Red Hook housing projects still without power, heat and water
A week after Superstorm Sandy, most tenants at Brooklyn’s biggest public-housing development literally remain in the dark. That’s because tenants of the 2,878-unit Red Hook Houses yesterday were still waiting for New York City Housing Authority crews to pump out water from flooded basements so utility companies can safely restore their electricity. Most are also without potable water and heat.
Photos: South Ferry Station Is Dry Now But Still An Incredible Mess
Much of the subway system was hurt in the midst of Hurricane Sandy but one of the worst hit parts of the system was definitely the South Ferry station—which the MTA just finished a $530 million renovation of back in 2009. It was completely flooded. The MTA has successfully cleared the station, but as these photos make clear there is still a ways to go.
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