Remember shovel ready projects? Thought they were so 2009? Well, you’d be wrong, at least here in New York, where Mayor Bloomberg, Council Speaker Christine Quinn and the ever financially creative City Comptroller John Liu have done some juggling with the city’s capital construction program to fast track $1 billion worth of infrastructure work. These projects will begin in the coming months, rather than in the coming years. Let’s hear it for putting people to work. Read More
“We decided to prioritize the public amenities here,” Beatrice Sibblies, one of the developers of the new condo, 88 Morningside, said at its opening party last night. “There’s a larger lobby, media room, gym and roof deck. We did that to create a sense of community in the building.”
That sounds familiar. Just last week, the ultra-trendy Aloft Brooklyn hotel opened, and we heard the same refrain: smaller units were swapped for bigger common areas in which people are encouraged to congregate. These hip new developments lean on a quaint suburban notion that seems to have been lost here: get to know your neighbors! Hang out with the people you (perhaps awkwardly) share elevators with! Who would have thought? Read More
His home! Where he comes to play with his toys. Read More
It was July 1, 1982. Approximately 4,000 followers of the Reverend Sun Myung Moon were entering and exiting the second-floor Grand Ballroom of the New Yorker Hotel at 34th Street and Eighth Avenue. There they entered into marriage contracts with strangers whom the reverend, the Korean-born founder and head of the Unification Church, had picked for them. Then, the same day, they walked barely a block and entered Madison Square Garden—most in formal wear—where they were declared husband and wife en masse by Reverend Moon.
Photos of the Moonie marriage ceremony were distributed worldwide. It would be hard to forget—though the New Yorker Hotel would prefer that you did.
The venerable old hotel, once the largest inn on earth, with 2,500 rooms and 1 million square feet over 43 floors and the likes of Joe DiMaggio and Benny Goodman swinging by, has tried mightily to shake off the Moonies’ shadow ever since the church, which reveres the reverend as the Messiah and the Second Coming of Christ, bought it in the bad, old Beame days of 1976, and started using it exclusively for church housing (the Moonies still own it, through their Holy Spirit Association).
The latest gambit: marketing the largest contiguous block of Class B space in New York City, 287,000 square feet over five floors now occupied by egg-salad tenants like insurance firms and the Barbizon Modeling School. Read More
While foreclosures over the course of the past three years have been more prevalent outside of Manhattan, in areas as far away as Las Vegas and as close as Queens, two pre-war buildings near the Upper West Side seem to be bucking the borough’s perception as a failsafe place amidst a troubled economy. To wit, Read More
A recent East Harlem deal shows that the average prices per square foot in the neighborhood are surpassing those of 2010, brokers say. To be sure, a 34-unit Upper Manhattan walk-up building with ground-floor commercial space sold last week for a whopping $3.81 million.
The price achieved for the building, at 124-128 East 107th Street, Read More
Only two months after their defection from Cushman & Wakefield, the powerhouse brokerage team at Jones Lang LaSalle led by Mitchell Konsker announced this week that they had snagged leasing duties for William Macklowe‘s 636 Avenue of the Americas office building.
Mr. Konsker, who has assisted with leasing at many of Mr. Macklowe’s other buildings, Read More
Last month, the Argonaut, the landmarked turn-of-the-century building at 225 West 57th Street, achieved something very few 100-year-old buildings have been able to achieve: LEED Gold certification by the U.S. Green Building Council. James Dempsey, a managing director at Colliers International, spoke to The Commercial Observer about the many complexities of bringing the building into the Read More