Just two days after Two Treesbuckled under pressure from the De Blasio administration to beef up the affordable housing component of the Domino Sugar Refinery redevelopment project, the City Planning Commission has unanimously approved the developer’s plans.
Two Trees had already agreed to go well beyond the 440 required units of affordable housing and build 660 units (out of the 2,300-unit total) at the site, but on Monday it sweetened the deal by raising that number to 700 (an additional 110,000 square feet).
More than three years after developer Sharif El-Gamal faced a firestorm over plans for an Islamic prayer and community center in lower Manhattan, the head of Soho Properties is searching for temporary space for Park51, Commercial Observer has learned.
Yesterday afternoon, Aziz Friedrich from Soho Properties was spotted touring a 2,000-square-foot second-floor space at 44 Trinity Place, being marketed by Eastern Consolidated’s James Famularo and Ravi Idnani. The asking rent for the Trinity Place space is $100 per square foot and the lease term is 10 years, according to the listing. It seems an unusual space for a center since it is above Wogies Bar & Grill. Messrs. Famularo and Idnani declined to comment.
Next week, the case against a real estate company which is in negotiations to bring a Crunch Gym to a Tribeca residential condominium heads to court, and the decision could make or break a gym lease at 140 Franklin Street.
On Wednesday, March 12, the court will conduct a hearing to determine whether to grant the 140 Franklin Street condominium board’s application to prevent Lily Realty from signing a lease with Crunch, pending the trial. There is currently a temporary restraining order in place prohibiting Lily Realty from executing any lease with Crunch. That order expires upon the court’s decision, which will be issued following next Wednesday’s hearing.
It has been a long time coming, creeping ever closer with each new luxury condo and $8 million townhouse sale, every $17 bowl of ramen, $10 latte and cup of cold-pressed beet-and-kale juice, but now the end is finally upon us: Brooklyn is over. Done. Finished. Brooklyn as brand has overtaken Brooklyn as place, turning itself over fully to the project that was always its greatest work in the first place: the cultivation of a luxury lifestyle.
The often dispiriting reality of being a rental broker. [BU] Want an older colonial on a quiet street? Try St. Albans, Queens. [NYT] Astoria’s Steinway Mansion has finally snagged a buyer. But who is it? [Curbed] NYCHA waiting list for domestic violence victim relocation stretches up to a decade. [DNAinfo] Chinese Institute wants to sell its UES mansion for $32 M., move downtown. [WSJ] Now unions are demanding that Two Trees use only union labor at Domino. [NYDN] It’s inevitable: Radio Shack is doomed, but so are all the other retail chains. [AC] REBNY commissions report on just how great it is for the city. [WSJ] Park Slope’s former pinkstone, now brownstone, flips for $4.45 M. [Curbed] Town’s Andrew Heiberger and Joe Sitt stop feuding, plan celebratory dinner at Nobu. [TRD] Management company accidentally carts tenants’ possessions to the dump. [Gothamist] Historic Clinton Hill church seeks to sell land and development rights for $8.6 million. [DNAinfo]
The ultra-luxurious Zeckendorfs-developed residential condominium 15 Central Park West has a ground-floor office space available for lease. A fun perk: access to the building’s amenities.
The 2,177-square-foot loft space with two bathrooms can be used for commercial purposes or as live/work space. The space, available raw, is on the southeast corner of the Robert A.M. Stern-designed building and is being listed by A&I Broadway Realty’s Valentina Sharapan.
During the 1970s fiscal crisis, the city acquired significant quantities of property by way of owner abandonment and tax foreclosure, which it used in subsequent decades to subsidize affordable housing development. Virtually none of that land remains available today, however, and as we recently noted, the now-stratospheric cost of privately held land poses myriad obstacles to new affordable housing production, particularly in neighborhoods with good public schools, ready access to transportation and employment centers.
If there is one thing the fashion and interior designer, author, artist, real estate developer and all around composition maven Bradley Bayou understands, it is symmetry. Symmetry, his artist’s statement says, is the one scientifically-proven “timeless evolutionary trait for sexy.” (For the record, the Observer has yet to hear the term “sexy” uttered in the context of lab work.) The trait naturally figured in Mr. Bayou’s 2006 fashion manual The Science of Sexy, and it was no doubt on his mind when he and William Morris Endeavor board member and Hollywood super agent Mark Itkin, went real estate shopping recently in Chelsea. The townhouse they settled on at 353 West 20th Street—for $4.95 million, about a half million less than the $5.5 million ask—does not immediately suggest sexiness. But then, Mr. Bayou is good with makeovers.
High rents make these counties the hardest places for the poor to live. [AC] Washington Heights library re-opens after $12.4 M. renovation, earns raves from residents. [DNAinfo] Mega firms like Lower Manhattan more than any other neighborhood. [Crain's] New York’s residential building permits shot up 19 percent in 2012. [TRD] Demolition begins at 5Pointz. [QueensStoner] Spike Lee fears New York will lose its heart and soul if only millionaires like him can afford it. [NYM] The Gracie Mansion attic: chef’s quarters, playroom, home gym, storage space and now…? [NYT] That crazy $7 latte you keep hearing about? Now it costs $10. [BrooklynBased] Developers not concerned about ghosts, potentially haunted development sites. [Post] Pastis, which hastened the transformation of the Meatpacking District, closes for repairs. [Gothamist] Chetrit Group wins approval to demolish buildings on $31.5 M. Penn Plaza site. [TRD] New law could make it much harder for companies to score tax breaks by converting to REITs. [Crain's]