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Old October 3rd, 2016, 08:13 PM   #7001
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St. George, Staten Island - New York Wheel

630-foot Ferris wheel is slowly coming together on the Staten Island shore

Will become the biggest observation wheel in the world when it is finished in about a year and a half (until Dubai's is done)




















Legs arrive this weekend













Set to open April, 2018

Quote:
The 36 egg-shape glass pods will hold up to 40 people each for a 38-minute ride when the New York Wheel opens in April 2018. There will be pods with bars and luxury dining, and all New York City schoolchildren will ride free the first year.
NYTimes
SILive
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Old October 3rd, 2016, 08:22 PM   #7002
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Financial District - 3 WTC update


AO3-2016-3709_HDR.jpg by Alejandro Ortiz III, on Flickr
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Old October 3rd, 2016, 09:00 PM   #7003
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Williamsburg, Brooklyn - The Williamsburg Hotel - 96 Wythe Ave

The Williamsburg Hotel, Featuring a One-of-a-Kind Watertower Bar, Nears Completion



















FW4A8879 by Kevin Leclerc, on Flickr

FW4A8435 by Kevin Leclerc, on Flickr

Old Pics from Tectonic


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Old October 3rd, 2016, 09:06 PM   #7004
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I love the reworking of the Verizon Building, goes to silence all the naysayers who claimed it couldn't get uglier. For their next refurbishment they should put a giant disco ball with laser show on top and paint a portrait of Kim Jong-Un on the blank wall.
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Old October 3rd, 2016, 09:15 PM   #7005
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The Williamsburg Hotel looks absolutely amazing, I was expecting similar steel frames for the bracing on Tower Verre.
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Old October 3rd, 2016, 09:37 PM   #7006
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Red Hook, Brooklyn - 411 Van Brunt Street

Reveal For Five-Story, 30-Bed Rehabilitation Center Planned At 411 Van Brunt Street, Red Hook





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Old October 3rd, 2016, 09:46 PM   #7007
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Wow, fantastic. I'm surprised the rehab center is a new construction, I thought it was a conversion of a historical structure based on the rendering.
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Old October 3rd, 2016, 10:17 PM   #7008
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Why do they have to ruin it by making the entrance 10 feet up so you have to put ugly stairs and a ramp?
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Old October 4th, 2016, 08:31 PM   #7009
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New York Wheel’s four 500-ton legs arrive in New York harbor today
https://www.6sqft.com/new-york-wheel...-harbor-today/






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Old October 4th, 2016, 10:43 PM   #7010
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It's almost crazy that such a major project, especially for Staten Island is almost an afterthought in this current boom, I almost forgot about it.
Great to see this moving forward tho.
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Old October 5th, 2016, 02:51 AM   #7011
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Midtown - 220 Central Park South




[URL="http://www.6sqft.com/robert-a-m-sterns-220-central-park-south-gets-stoned-new-renderings-and-construction-shots/"]6sqft






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Old October 5th, 2016, 03:03 AM   #7012
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Nice improvement on the crown.
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Old October 5th, 2016, 06:21 AM   #7013
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Flushing, Queens - Center for Community and Entrepreneurship - 33-04 39th Avenue

Renderings revealed for Queens entrepreneurship center designed by Leong Leong and JCJ

Quote:
Nonprofit Asian Americans for Equality (AAFE) selected the New York and Los Angeles–based firm to design the Center for Community and Entrepreneurship, a 90,000-square-foot business incubator, retail, and community space complex on a busy Flushing corner.

...On the ground floor, a plaza hosting a 5,000-square-foot marketplace connects the building to the neighborhood’s vibrant street life, while upstairs, a flexible event space beckons people inside or onto an adjacent terrace. Floors three through seven are offices: A third-floor business incubator provides co-working space, where firms may seek assistance from Renaissance Economic Development Corporation, an AAFE affiliate. AAFE’s offices occupy the fourth floor, with the remaining above-ground floors are available to rent. Two levels of below-ground parking round out the program.

The facade’s transparency is greatest at the two lowest and most public floors, but the glass increases in opacity as the eye ascends to the upper, more private floors. The lot line wall is clad in metal panels and roughly mirrors same spacing as the glass walls.

The firms were awarded the project last fall, and the center is expected to be complete in 2018.







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Old October 5th, 2016, 06:21 PM   #7014
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Quote:
Manhattan Apartment Sales Plunge 20%

There are a lot more apartments available for purchase these days in Manhattan. And fewer people are buying.

Sales of previously owned condominiums and co-ops fell 20 percent in the third quarter from a year earlier as potential buyers grew cautious amid more choices, according to a report Tuesday from appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.

There were 5,290 resale apartments on the market at the end of September, 53 percent more than the number available in late 2013, the lowest point for listings.

The swelling inventory is providing an opportunity to New Yorkers shut out of a market in which construction has been dominated by ultra-luxury condos aimed at the wealthiest buyers. Resales, particularly those priced at less than $1 million, were in chronically short supply in recent years, and those that made it to the market sparked bidding wars.

Now, more owners are listing apartments to profit from climbing values, and they’re finding lots of company.

“Rapidly rising prices over the years have pulled more sellers into the market hoping to cash out,” Jonathan Miller, president of Miller Samuel, said in an interview. “But buyers are more wary. There isn’t the same intensity of activity to burn through the new supply.”

Buyers agreed to pay more than the asking price in just 17 percent of all condo and co-op deals that closed in the third quarter, down from a record 31 percent a year earlier, according to Miller Samuel and Douglas Elliman.

Consumers also are taking longer to make a decision. Previously owned properties that sold in the period spent an average of 72 days on the market, up from 67 days a year ago.

...
http://www.bloomberg.com/news/articl...rs-get-pickier
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Old October 5th, 2016, 07:20 PM   #7015
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...at the same time more foreign money is always welcome...

New York Beats London for Overseas Property Investors on Brexit
http://www.bloomberg.com/news/articl...tors-on-brexit

Quote:
New York overtook London to become the most popular location for overseas commercial property investors as the growing U.S. economy and a stronger dollar draws buyers. Sales in the U.K. capital slumped on concerns that Britain would leave the European Union.
Overseas investors spent about $25 billion on commercial real estate in New York in the 12 months through June, according to a report by broker Cushman & Wakefield Inc. The value of sales in London fell to almost $25 billion from $39 billion in the same period a year earlier.
“London lost out as Brexit concerns and high pricing hit even before the referendum,” according to the report. New York “may feel its influence grow as its chief rival is distracted. Asia may see increased trade and investment, benefiting larger centers such as Tokyo, Shanghai and Hong Kong.”

Manhattan has become a magnet for property investors from around the world, pushing building values to records. The relative stability of the U.S. is attracting buyers fleeing economic and geopolitical uncertainty in their own countries. Almost one in every 10 dollars spent globally on income producing real estate now goes to New York, according to the report.
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Old October 5th, 2016, 08:51 PM   #7016
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Eh, I'd actually prefer London keep being the go-to place for money laundering. Foreign investment is great and all, but at what price for the city?

In other news, to some relief, Beth Israel might be getting a new home in the East Village.

Long-vacant Alphabet City corner to get 50-apartment tower
http://ny.curbed.com/2016/9/28/13089...al-development

Quote:
BY TANAY WARERKAR SEP 28, 2016, 11:15A

A 14-story residential building is set to rise on the corner of East 14th Street and Avenue C, thanks largely to a $52 million first mortgage loan provided by Madison Capital Realty (the Noho private alley condo developers), Real Estate Weekly reports.

The site, at 644 East 14th Street, was once home to the R&S Strauss auto shop, which closed in 2009, and was subsequently demolished, as EV Grieve points out. Opal Holdings purchased the site from the Rabsky Group this past summer for $23 million.

Plans now call for 50 apartments, that will boast views of the East River and come with large balconies, according to a release put out by Madison Realty. There are also plans for just over 8,000-square-feet of retail, and 21,575-square-feet of a community facility.

In their release, Madison Realty notes that, "The borrower is currently finalizing a lease with a major New York hospital to occupy the entire community facility portion of the new building." EV Grieve is speculating that it might be Mount Sinai Beth Israel, which announced in May this year that it was closing its existing space and downsizing.
The site in question:


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Old October 5th, 2016, 09:03 PM   #7017
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Permits Filed: 501 West 18th Street, Chelsea
http://newyorkyimby.com/2016/09/perm...t-chelsea.html



Quote:
BY: REBECCA BAIRD-REMBA 3:00 PM ON SEPTEMBER 30, 2016

Another High Line-hugging condo building is coming to West Chelsea. Related Companies has filed plans for a 10-story residential project at 501 West 18th Street, on a lot that stretches across 10th Avenue between West 18th and 19th streets.

The 132-foot-tall building would have 63 apartments and 10,291 square feet of commercial space. Those 63 units would be divided across 97,733 square feet of residential space, creating average units of 1,550 square feet. Two retail spaces would fill the ground floor, followed by seven apartments on each of the upper floors.

SLCE Architects applied for the permits.

Related paid $205 million for the two parking lots in 2014, setting a record for price per square foot in the neighborhood at the time.
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Old October 5th, 2016, 09:34 PM   #7018
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70 Vestry above ground :





160 Leroy Street crane up, and above ground :



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Old October 5th, 2016, 10:20 PM   #7019
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Quote:
Originally Posted by bodegavendetta View Post
Eh, I'd actually prefer London keep being the go-to place for money laundering. Foreign investment is great and all, but at what price for the city?
I don't disagree with your point but it's all relative to how much foreign investment affects the city's market overall. Real estate investment in NYC surpasses any other city by a long shot but foreign investment in the city represents relatively small portion of that total investment compared to London, therefore the overall effect of foreign investment on the city's real estate market is limited to a certain extent.
So we do welcome more foreign investment, but I do agree with you it cannot be excessive to a point where it has too much impact on the market.
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Old October 6th, 2016, 03:33 AM   #7020
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Jamaica, Queens - The Crossing at Jamaica Station - 93-01 Sutphin Boulevard

Residential towers right next to Jamaica’s AirTrain terminal will bring 669 apartments to the neighborhood


Quote:
Being built at an estimated cost of $300 million, the project has been previously billed as one of the largest investments in the area in decades. Construction is expected to get underway early next year with an anticipated completion in 2019.






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