Trinity Church had a problem. The venerable Episcopal parish of lower Manhattan was possessed of the largest single real-estate portfolio in the neighborhood, and one of the largest in town, including some six million square feet of office space in the 27-block waterfront area west of Soho called Hudson Square. But vacancy rates were lagging, Read More
“Guess what? The Lower Manhattan Development Corporation just gave away $28 million to all sorts of groovy cultural groups downtown. They are really going to make that neighborhood exciting.”
“Oh, yeah. Let me guess. Was the Tribeca Film Institute one of them?”
“Uh, yeah. How’d you know?”
“Well, the Read More
Community benefits agreements—contracts between real estate developers and grassroots organizations to provide jobs or housing for local residents—are popping up all over without anyone much agreeing what they are and what they should and can do. Aside from a handbook published last May by some of the people who created the first Read More
No, not Iris Weinshall, as once widely rumored. The new head of the Alliance for Downtown New York, the largest business improvement district in the city, is Eric J. Deutsch, the president and CEO of the Brooklyn Navy Yard Development Corporation, the Alliance announced today. The spot’s been open since July Read More
Talk about downtown office vacancies! Carl Weisbrod starts his new job as executive vice president for real estate, at downtown land moguls Trinity Church, on Monday, leaving headless the Alliance for Downtown New York, the largest business improvement district in the country.
An alliance spokesman assures The Real Estate that a search committee Read More
Every few weeks, a couple of well-connected New Yorkers-maybe Carl Weisbrod, a board member of the Lower Manhattan Development Corporation, maybe Governor George Pataki’s chief of staff, John Cahill-make a trip down to Washington, D.C., to lobby what at first looks like an obscure technical point: whether $2 billion in tax incentives can be converted Read More
Mixed-use development projects have become part of New York’s cityscape in recent years. But now developer Douglas Durst is taking that concept to new heights.
Mr. Durst is co-developer of a project on West 31st Street where demolition crews are clearing the way for a 58-story skyscraper that will have three separate lobbies: one for Read More
Most stiff-collared financial industry executives would probably be put off by Times Square’s garish billboards and unwieldy crowds. But when Frank Zarb, chairman of the National Association of Securities Dealers, went shopping for a new home for his expanding empire of stock markets, he became enamored with the neighborhood’s bright lights and newfound energy. Read More
