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Old October 10th, 2012, 07:23 AM   #2421
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Lightstone Secures Construction Financing For LIC Project


http://www.rew-online.com/2012/10/09...or-lic-rental/

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A Manhattan-based developer announced a relatively rare success on Tuesday. The Lightstone Group said it has closed on a $51 million construction loan for its new rental development in Long Island City, Queens—the developer's first project in New York City to get underway.

The developer, along with Lightstone Value Plus Real Estate Investment Trust, is building a 12-story, 199-unit luxury building at 50-01 2nd St. that will be across the street from the city's massive affordable-housing development known as Hunter's Point South on the Long Island City waterfront. Lightstone said the loan is from Canadian Imperial Bank of Commerce.

"We are excited to be moving forward with this project and to have CIBC as our partner," said David Lichtenstein, chief executive of The Lightstone Group, in a press statement. "This transaction shows the commitment that we at Lightstone have to development in New York City, as 50-01 2nd St. is one of several projects we have underway here."

[...]
Read more: http://www.crainsnewyork.com/article...#ixzz28rnqEu1h
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Old October 10th, 2012, 07:45 AM   #2422
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Midtown East Rezoning

Bloomberg Pushes a Plan to Let Midtown Soar


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London, Tokyo and other metropolises have created central business districts with forests of skyscrapers in recent years, seeking to meet the needs of globe-trotting corporate tenants. But New York’s premier district, the 70-block area around Grand Central Terminal, has lagged, Bloomberg officials say, hampered by zoning rules, decades old, that have limited the height of buildings.

Mayor Michael R. Bloomberg wants to overhaul these rules so that buildings in Midtown Manhattan can soar as high as those elsewhere. New towers could eventually cast shadows over landmarks across the area, including St. Patrick’s Cathedral and the Waldorf-Astoria Hotel. They could rise above the 59-story MetLife Building and even the 77-story Chrysler Building.

Mr. Bloomberg’s proposal reflects his effort to put his stamp on the city well after his tenure ends in December 2013. Moving swiftly, he wants the City Council to adopt the new zoning, for what is being called Midtown East, by October 2013, with the first permits for new buildings granted four years later. His administration says that without the changes, the neighborhood around Grand Central will not retain its reputation as “the best business address in the world” because 300 of its roughly 400 buildings are more than 50 years old. These structures also lack the large column-free spaces, tall ceilings and environmental features now sought by corporate tenants.

The rezoning — from 39th Street to 57th Street on the East Side — would make it easier to demolish aging buildings in order to make way for state of-the-art towers. Without it, “the top Class A tenants who have been attracted to the area in the past would begin to look elsewhere for space,” the administration says in its proposal.

The plan has stirred criticism from some urban planners, community boards and City Council members, who have contended that the mayor has acted hastily. They said they were concerned about the impact of taller towers in an already dense district where buildings, public spaces, streets, sidewalks and subways have long remained unchanged.

Mr. Bloomberg has encouraged high-rise development in industrial neighborhoods, including the Far West Side of Manhattan, the waterfront in Williamsburg, Brooklyn, and in Long Island City, Queens. But with the proposal for Midtown, which is working its way through environmental and public reviews, he is tackling the city’s commercial heart. “Unlocking the development potential in this area will generate historic opportunities for investment in New York City,” Deputy Mayor Robert K. Steel said.

The initiative would, in some cases, allow developers to build towers twice the size now permitted in the Grand Central area. The owner of the 19-story Roosevelt Hotel at Madison and 45th Street could replace it with a 58-story tower under the proposed rules. Current regulations permit no more than 30 floors.

Administration officials acknowledged that the current market for new office buildings across Manhattan was relatively weak. For example, a 40-story office tower at 11 Times Square, at 42nd Street and Eighth Avenue, which was completed in 2010, is still not full. But the officials said major changes in zoning were intended to make it possible to build when demand returned, as history suggests it inevitably will. In promoting the proposal, the administration has repeatedly stressed that Midtown Manhattan needed to keep pace with business districts in other world capitals. And New York does compete with London for some financial firms.

But many of New York’s prominent corporations, law firms and other businesses are not about to decamp for a spectacular skyscraper in Hong Kong anytime soon. Part of the obsession with taller buildings is about prestige and worldwide bragging rights, for size and architectural supremacy.

By the city’s estimates, the new towers would be home to an additional 16,000 employees in a neighborhood that now has 230,000 office workers. That could strain the Lexington Avenue subway line, which runs through Grand Central and is already operating well above capacity. “Massive new buildings could be constructed,” said Michael B. Gerrard, an environmental lawyer working with the Municipal Art Society to review the proposal. “They’re proceeding at a breakneck pace,” he said, referring to Bloomberg aides. “The administration wants to get all this done before the gate closes.”

[...]
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Old October 11th, 2012, 12:35 AM   #2423
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beautiful!!!
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Old October 12th, 2012, 05:05 AM   #2424
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City Council Approves Seward Park Redevelopment Plan


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Updated: October 11, 2012 4:03 p.m.
Plans for a massive Seward Park mixed-use development finally won City Council approval Thursday afternoon. The redevelopment of the seven-acre Lower East Side site has been more than 50 years in the making.

The City Council voted unanimously in favor of the modified version of the plan that was approved by two City Council subcommittees last week. The revised strategy involves transforming city-owned parking lots south of Delancey Street, near the Williamsburg Bridge, into a mixed-use development boasting over nearly 2 million square feet. The site has become known as the Seward Park Urban Renewal Area.

The Seward Park project, the largest redevelopment of underutilized city owned land south of 96th Street in Manhattan in years, will now move to the mayor's office for final sign off.

"Today's vote to approve development on the SPURA site is truly history in the making. This is a significant step toward alleviating the chronic problem of overcrowding in our community," said City Councilwoman Margaret Chin, who represents the area and worked with the community and negotiated with the city on some tweaks to the project, in a statement. "This is not only a momentous vote, but an example of what we can accomplish when the city and our partners in the community work together."


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Read more: http://www.crainsnewyork.com/article...#ixzz292vfnIK4
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Old October 12th, 2012, 05:20 AM   #2425
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Construction To Restart At 56 Leonard



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Construction is slated to recommence next week at 56 Leonard Street, the 830-foot Herzog & de Meuron–designed condo that stalled amid the financial crisis, the Tribeca Trib reported. The building’s foundations have been completed for three years.

Pricing has not yet been released for the 57-story building, which will be finished by 2016. Back in 2008, before the crisis hit, the developer Alexico Group was selling units for between $3.5 million and $35 million. The building is being marketed by Corcoran Sunshine.

“It’s a very complicated structure,” said Tony DelGreco, the manager of the project, noting that the first 10 floors of the project will be erected at a slow pace due to the nature of the large cantilevered apartments.
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Old October 12th, 2012, 10:45 PM   #2426
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Plans for Greenpoint's 10 Luxury Towers Moving Forward





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It looks like those ten residential towers will actually be coming to 22 acres of Greenpoint waterfront. Called Greenpoint Landing, the plans have been talked about for nearly a year, and renderings by Handel Architects were released this spring. News that developer Park Tower Group wants to break ground by next summer was buried in a Times article earlier this summer, and now, Greenpointers reports that the tenants occupying the lots in question, mainly the Boardwalk Empire set, are moving out. The luxury development will occupy 22 waterfront acres, bringing 4.2 million square feet of mixed-use buildings with approximately 4,000 apartments, of which 20 percent will be affordable.

Handel Architects' plans call for much more than just ten towers rising 30 to 40 stories high. They include plans for a pedestrian bridge designed by starchitect Santiago Calatrava to connect Greenpoint and Long Island City, a new East River Marina, and a seasonal putting green/ice skating rink. Residents would enjoy a large deck with a swimming pool, hot tub, and barbecue area, and inside amenities would include concierge and valet service, a fitness center and spa, racquetball court, a golf-simulator, children's playroom, and a movie room. Restaurants and public green spaces would be incorporated throughout.
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Old October 13th, 2012, 12:17 AM   #2427
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Reminds me Dubai.
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Old October 13th, 2012, 12:21 AM   #2428
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Awful. Looks like buch of random commieblock towers in HK or Shanghai.
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Old October 13th, 2012, 02:02 AM   #2429
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the 10 towers are approved ?
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Old October 13th, 2012, 11:11 PM   #2430
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all the pictures:



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Old October 14th, 2012, 01:47 AM   #2431
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Originally Posted by dexter2 View Post
Awful. Looks like buch of random commieblock towers in HK or Shanghai.
You have to be kidding

Look like the apartment buildings they build in Miami or Gold Coast City, not commieblocks
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Old October 14th, 2012, 02:35 AM   #2432
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At least the bridge looks cool.......

This proposal looks pretty cheap IMO
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Old October 14th, 2012, 04:41 AM   #2433
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I love this development. I'd love to see similar development to be built in Seattle too.
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Old October 14th, 2012, 05:16 AM   #2434
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It's the 'Vancouverization' of Greenpoint, something that will be a source of irritation for many critics. NYC has its own style with regard to tall residential towers and I do think these will rub many the hard way. But then again, traditionalist brick towers don't offer the same floor-to-ceiling views that buyers want nowadays. So they may lease (or ultimately) sell out fast.
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Old October 14th, 2012, 09:36 AM   #2435
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Nice!
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Old October 14th, 2012, 02:46 PM   #2436
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Originally Posted by CrazyAboutCities
I love this development. I'd love to see similar development to be built in Seattle too.
Yeah, it's like a whole new skyline
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Old October 16th, 2012, 07:16 AM   #2437
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SOHO Development Site Changes Hands



Will this design survive??
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Old October 18th, 2012, 03:00 AM   #2438
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Atlantic Yards to set modular record



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Forest City Ratner is slated to set a record in modular construction, the New York Post reported. Not only will the company develop 15 buildings at Atlantic Yards using modular construction, but according to MaryAnne Gilmartin, the company’s executive vice president of commercial and residential development, the construction of B2, a 34-story pre-fab building, will shatter the current record of 24 stories.

This news comes in the wake of the company publicly considering using these pre-fab construction methods in the development of B2.

Gilmartin told the Post that Forest City Ratner has had a “breakthrough” in its modular development plans, saying that it has to do with how each module is “tied” to each other. “We have new intellectual property in our technique, and it is able to go high and maintain its light weight,” she told the Post.

A module generally ranges from 10 to 14 feet in width and 40 to 60 feet in length.

But a challenge of finding financing for B2 remains, though Gilmartin said she’s “confident” the company “will end up with a lender… that is… excited by the prospect.”

Due to the use of pre-fab construction, 60 percent of the work will be conducted in an off-site location, cutting six months from the general 18-month schedule and saving 20 percent of costs.
How delightful.
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Old October 18th, 2012, 03:11 AM   #2439
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A 10 Year Plan To Update And Save The Garment District



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People have been trying to remake/rebrand/rebuild the Garment District for years. The rezoning, a hot topic several years ago, never came to pass, and an initiative to rename the neighborhood seems to have fizzled out. Now the Design Trust for Public Space has unveiled a 10-year plan that aims to strengthen the Garment District and update the area for today's fashion designers and manufacturers through 17 recommendations that could boost the city's revenue by $340 million. The report details how the zoning laws can be updated to fit the district's needs and retain the fashion factories, but there are also a lot of interesting, and semi-mindboggling, ideas for remaking the public space. Think parks on top of buildings and fashion shows in the streets.



The top priority of the report, titled "Making Midtown: A New Vision for a 21st Century Garment District in New York City," is to retain the 270 factories currently operating in the Garment District and update the zoning rules to sustain the mix of uses found in the area and encourage voluntary, market-based zoning initiatives. The plan would also remake the district's public spaces and streets, create a central NYC Fashion Innovation Center, and launch a "NYC Made" branding campaign with incentives for designers.

The fun stuff comes in the section on how to improve the public realm of the Garment District. Sidewalks would be widened and more trees would be planted. Loading docks would be transformed into pop-up shops or shows. Runway shows would take place in the public plazas or side-streets could be closed to temporarily host them. Installations along Broadway would be fashion-themed, focusing on things like custom-designed manequins. Fancy new streetlights would have crazy colors to resemble runway show lighting. But the most intriguing idea, inspired by the High Line, is to create a mid-block pedestrian walkway from 34th to 40th Streets on the top of low-rise buildings. Or, more realistically, this path would be created at street level, opening up existing arcades and spaces to the public, much like 6 1/2 Avenue.



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Old October 18th, 2012, 03:35 AM   #2440
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More Renderings Revealed for The Hub, Downtown Brooklyn's New Tower


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Developers David and Douglas Steiner, who already have the Brooklyn Navy Yard's movie studios in their portfolio, are at work on a residential high-rise in the Brooklyn Academy of Music's 'hood. New York YIMBY spotted a few new renderings of the project on the website of designer Dattner Architects, so here they are. The 53-story building will sit at 333 Schermerhorn Street and will include 720 rentals, 20 percent of them affordable (and the rest renting for somewhere around $40 to $50 per square foot).
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