Tucker Reed is sweet on Brooklyn—big time. A resident of Prospect Heights who enjoys frequenting the Barclays Center, the Brooklyn Museum and the Brooklyn Academy of Music, Mr. Reed is a champion of the city’s most populous borough. He is a ball of energy as he talks about all of the work the Downtown Brooklyn Partnership has done with him as president for the past two years, from supporting the technology sector with the Brooklyn Tech Triangle Coalition to establishing Downtown Brooklyn as New York City’s college town. About a year after Commercial Observer conducted the Sit-Down interview with Mr. Tucker, we wanted to check in and see how the nonprofit has been doing with the reinvention of Downtown Brooklyn. Read More
Time Warner Inc. was rumored to be eyeing space at Hudson Yards as early as last spring, but only this month did the company confirm it would anchor Related Companies’ 30 Hudson Yards, an 80-story tower on the Far West Side. Concurrently, Related agreed to a deal to buy back the Time Warner Center in Columbus Circle for $1.3 billion and will market space there for the first time since the building came online a decade ago. The complex deals, which include a significant financial commitment to Hudson Yards by Time Warner, are vital for the ambitious development and another victory for Related Chairman Stephen Ross, who has long championed the viability of his plans for the once-barren pocket of Manhattan. Read More
Susan Fine will call upon her experience redefining Grand Central Terminal to redevelop the Columbus Circle subway station with a mix of service retailers, high-end shops and a set of evolving kiosks that draw inspiration from abroad. Read More
The World Trade Center site has been closed off from lower Manhattan and the rest of the city for 12 long years. But by this time next year, the site will be fully reintegrated back into the streetscape, and New Yorkers will reclaim the Downtown they once knew. It’s no coincidence that major developments at Read More
Last Thursday, Madison Square Garden debuted the final phase of its three-stage transformation process to the media. The arena has now been thoroughly transformed into a modern facility befitting its self-styled title as the World’s Most Famous Arena. The process, which added two bridges suspended above the event floor, was not without controversy. Many fans, especially those die-hards seated in the arena’s upper bowl, were concerned their sight lines would be obstructed by the innovative additions. The project’s head architect, Murray Beynon of BBB Architects, spoke with The Commercial Observer last week about concerns over the Chase Bridges and insights into the unique challenges presented by creating a modern arena inside a nearly 50-year-old structure.
Sixteen years after its founding, Taconic Investment Partners is banking on its legacy. Last month, the city chose a proposal from Taconic and collaborators (including L&M Development Partners, BFC Partners, SHoP and Beyer Blinder Belle) to reimagine the Seward Park Urban Renewal Area, Manhattan’s largest swath of undeveloped land below 96th Street. The estimated $1.1 billion project on the Lower East Side near the foot of the Williamsburg Bridge will add 1.6 million square feet of commercial and residential space to a neighborhood neglected for nearly half a century.
Last week, The Commercial Observer spoke to Taconic Co-Chief Executive Officer Paul Pariser and Chief Investment Officer Kevin Davis in the firm’s office at 111 Eighth Avenue—Taconic sold the building to Google in 2010—about Essex Crossing at SPURA, the Meatpacking District and the company’s possible reinvestment in the Financial District. Read More
In July, Seth Pinsky, then the president of the New York City Economic Development Corporation, announced he would soon shift from the public sector to the private sector. In his decade-long stint at the EDC, Mr. Pinsky boosted his reputation citywide by helping to secure a number of high-profile development projects, including Atlantic Yards, Hudson Yards and the Cornell Tech campus, and by initiating the response to areas of the city hit hardest by Hurricane Sandy. In his next chapter, Mr. Pinsky will spearhead RXR Realty’s Emerging Markets platform, which aims to identify growth opportunities in New York City and the surrounding metropolitan area. Mr. Pinsky, who joined RXR last month as executive vice president, spoke with The Commercial Observer last week at the developer’s Midtown offices and spent time discussing his tenure at the EDC and his new role.
David Sturner’s long tenure at Murray Hill Properties began in 1995, when the full services real estate company launched its asset and project management departments. But his roots at the firm go even deeper than that: Mr. Sturner’s father, Norman Sturner, is MHP’s president and chief executive. Since coming onboard, the younger Mr. Sturner, 46, has risen in the ranks. The onetime project management specialist now also oversees operations and asset management and two years ago was named chief operating officer. Mr. Sturner spoke to The Commercial Observer about the transformation of MHP, growing up in a real estate family and the quest for fortune over fame. Read More
Jim Phillips, founder of New York’s largest interior architecture firm, TPG Architecture, boasts more than 40 years of experience designing corporate office interiors. The firm’s client list reads like a who’s who of New York power players, including Silverstein Properties, Irving Place Capital, Condé Nast, SL Green and Digitas. By Mr. Phillips estimation, he walks through more than 1 million square feet of office space in New York per year, which allows him a unique perspective on the city’s building stock. While architects might be best known for their build-out work, TPG and other architects begin the process well before work begins. Mr. Phillips’s services include advising clients on the suitability of space, negotiations and budgets, evaluating the entire deal. Mr. Phillips spoke with The Commercial Observer about changing trends, the evolving demands of clients and some of the difficulties he has faced when evaluating space.
In June, the Moinian Group announced its plans for 3 Hudson Boulevard, a 1,000-foot-tall, 1.8 million-square-foot tower between West 34th and West 35th Streets in Hudson Yards. Designed by Dan Kaplan of FXFOWLE, the property will include 1.5 million square feet of office space, 22,000 square feet of retail and possibly as much as 300,000 square feet of residential space. The man behind the Moinian Group project is Oskar Brecher, the company’s vice president and director of development. Across the United States, Mr. Brecher and his team are involved with nearly 10 million square feet of development. The Commercial Observer spoke with Mr. Brecher at his firm’s 3 Columbus Circle office, where he described the 3 Hudson Boulevard project envisioned by the Moinan Group, headed by CEO Joseph Moinian. Read More