on the waterfront
The typically shaggy-haired DJ resonated bass frequencies into the sleekly designed white basement of the Center for Architecture last night as cliques of bespectacled and artfully dressed 20- and 30-something architects and designer types sipped complimentary Coney Island brews and snacked on carrots and hummus. There was a buzz in the room, both literally and figuratively, as the eager young professionals prepared to take on the Emerging New York Architects design challenge.
The talk of the evening was a massive abandoned building belonging to the department of sanitation, which continues to rot atop the Hudson at 135th street in West Harlem. Perhaps even more unappealing in its current state than during its tenure as a waste management facility (as if it’s proper title ‘marine transfer station’ really fooled us) this, believe it or not, could be Manhattan’s next Sunday picnic hotspot.
Some good news and some bad news for the design and construction industry. The American Institute of Architect’s Architecture Billings Index—The Observer‘s favorite leading indicator—rebounded last month, according to numbers released today.
Architects’ prospects are no longer crumbling in the city! Only a year or two ago, they were the most unemployed profession in the country, but after a better 2010 for many New York City firms, things continue to look, uh, up. It is a good sign for the wider real estate and construction community, as Read More
Last week the American Institute of Architects New York chapter handed out their annual design awards. Thirty-eight projects—all with some New York connection—were selected as winners and given “honor” or “merit” stamps of approval based on their “design quality, program resolution, innovation, thoughtfulness and technique.”
Winning projects fell into four categories: interiors, architecture, un-built work Read More
AIG, the enormous bailed-out insurance company, announced today that the sale of its ALICO life insurance unit to MetLife and its initial public offering of AIA on the Hong Kong stock exchange have netted billions of dollars to repay the U.S. government, which has generously and repeatedly extended a Read More
Bailed-out insurance giant AIG raised $17.8 billion in an initial public offering of its AIA Asian life insurance business, Bloomberg reports. The IPO marked the largest capital raise in the history of the Hong Kong stock exchange — one of the rare moments in recent memory when AIG set any kind of record Read More
According to a Reuters report, investors are positively salivating as they envision an initial public offering of shares in AIA, the Asia life insurance unit of enfeebled, government-owned former Wall Street titan AIG.
Including an “upsize option,” AIG is looking to gain $20.5 billion out of the IPO, which is slated to hit Read More