daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > City/Metro Compilations

City/Metro Compilations Help report active highrise/urban developments occurring in your city to the global SSC community.



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old February 25th, 2008, 10:31 PM   #1341
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://www.downtownexpress.com/de_251/mixeduse.html
Volume 20, Number 41 | The Newspaper of Lower Manhattan | Feb. 22 - 28 , 2008

Mixed Use

By Patrick Hedlund

High-rise for FiDi

A new, 33-story hotel in the Financial District is set to start construction this summer at 133 Greenwich St. after the developer recently received a nearly $40 million pre-construction loan for the site.

The 242-unit hotel is to be operated by the San Francisco-based Kimpton Hotel & Restaurant Group in an area also known as Greenwich Street South and will include meeting spaces, a health club, a bar and lounge, and a restaurant on the 32nd floor.

The project, near the corner of Thames St. just south of the World Trade Center site, will sit around the block from the 55-story, 220-unit W Hotel at 123 Washington St. currently under construction.

Multi Capital Group arranged for the $39.1 million pre-construction loan with Florida-based EB Developers earlier this month to join with the spate of new hotel projects slated to go up Downtown over the next few years.

The Downtown Alliance counts just over 3,700 new hotel rooms are currently under construction, planned or proposed for Lower Manhattan, with opening dates from now through 2010.

Hudson Square rejection

Community opposition to a proposed rezoning of the north end of Hudson Square convinced the Community Board 2 Zoning and Housing Committee last week to reject the plan sought by property owners.

The owners of 627 Greenwich St. want to establish the same zoning that was passed in 2003 for Hudson Square’s south end in order to convert the vacant building from commercial to residential. The zoning change would allow for development of a new, 80,000-square-foot residential building at 111-115 Leroy St., using air rights from 78 Morton St.

Neighbors, including the residential co-op board at 111 Barrow St, want to slow down the residential trend, since they fear rezoning would allow for out-of-character 125-foot-tall buildings.

“We recognize the area is changing and needs new zoning, but this proposal is not the one,” David Reck, the committee’s chairperson, told Mixed Use. “We think City Planning should consider allowing special permits to be issued for commercially zoned property in the area to convert to residential use,” he added.

The north end of Hudson Square is a five-and-a-half block area bounded by Morton and Barrow Sts. to the north, Hudson St. and a line about 100 feet west of Hudson St. to the east, Clarkson and Leroy St. to the south and West and Washington Sts. to the west.

[email protected]
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote

Sponsored Links
Old February 28th, 2008, 03:23 AM   #1342
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://globes-online.com/
Manager hired for Greenwich Street hotel

Nationwide boutique hotel manager Kimpton will run the Lower Manhattan hotel.

Globes' correspondent 27 Feb 08 15:00

Ofek International Real Estate Ltd. (TASE: OFRS) has chosen Kimpton Hotel and Restaurant Group LLC to manager the hotel that the company plans to build at 133 Greenwich Street in Lower Manhattan.

Kimpton, a nationwide manager of boutique hotels, will manager Ofek's hotel under a 20-year contract, providing full administrative services for all activities, including room service, restaurant, bar, spa, and conference rooms.

Ofek plans to build building the 242-room hotel on the site, located across from Ground Zero this year. Construction will take two years. The company expects a net operating income of $12.1 million in its first year of operation and $17.4 million in the following year. The company estimates the future value of the hotel at $250 million.

Published by Globes [online], Israel business news - www.globes-online.com - on February 27, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old February 29th, 2008, 12:13 AM   #1343
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://www.nytimes.com/2008/02/27/re...al&oref=slogin
Pondering Public Uses for a Hall Named Great

By TERRY PRISTIN
Published: February 27, 2008


Rogers Marvel Architects

The Battery Maritime Building is being renovated by the Dermot Company.



Rogers Marvel Architects

The Battery Maritime Building is being renovated by the Dermot Company. A 140-room luxury hotel will be added on top.


What if you had a majestic skylighted, columned hall in a Beaux-Arts ferry building at the tip of Manhattan and were required to use it as a public space? What would you do with it?

It is hardly the sort of opportunity that comes up very often in a cramped city like New York. But that is the challenge facing the Dermot Company, a New York developer that was selected last year to rehabilitate the century-old Battery Maritime Building’s dilapidated interior — while also adding a glassy 140-room luxury hotel on top.

The city has already spent $60 million to stabilize the ferry slips jutting out from the landmark building and painstakingly restore its ornate green exterior. Dermot’s partner in the $150 million project is the Poulakakos family, the owner of several downtown restaurants.

In announcing the selection of Dermot, city officials suggested that the building’s pièce de résistance, a former passenger waiting room with 30-foot ceilings and 10,000 square feet of space, might be transformed into a smaller version of the Ferry Building in San Francisco. There, a marketplace for artisan food vendors draws customers from all over that city.

But the marketplace idea proved impractical for the Battery Maritime space, which is known as the Great Hall, Dermot executives say.

“It’s physically not feasible,” said Stephen N. Benjamin, a Dermot vice president. “It’s radically inadequate in size.” Situated on the second floor, the hall does not have a loading dock.

Dermot executives, who plan to spend $30 million on the Great Hall alone, have not ruled out other food-related uses for the Great Hall, including cooking demonstrations or food boutiques. Under Dermot’s agreement with the city, the hall could also be used for private events, Mr. Benjamin said.

Another idea is to use the Great Hall for small exhibitions or shows by local groups like the American Numismatic Society, said Alan J. Gerson, the City Council member whose district includes the Battery Maritime Building.

In an effort to solicit ideas from residents and business owners, Dermot and Mr. Gerson will sponsor a public forum at 6:30 p.m. Wednesday at the 3-Legged Dog Art and Technology Center at 80 Greenwich Street.

Completed in 1909, the Battery Maritime Building, at South Street, is the last surviving East River terminal from the era when 17 ferry lines traveled between Manhattan and Brooklyn. An example of what has sometimes been called Beaux-Arts Structural Expressionism, the building is embellished with rosettes, rivets and glazed blue tiles. On the south side, facing the river, three ferry slips sit under huge arches lined in pink stucco; service to Governors Island will continue during the building’s renovation, Mr. Benjamin said.

A twin building, the Whitehall Street Ferry Terminal, burned down in 1991 and was replaced in 2005.

Dermot’s proposal for the Battery Maritime Building cleared a major hurdle this month when the city Landmarks Preservation Commission approved the latest design. In October, the commission asked the architect, Rogers Marvel of TriBeCa, to redesign the three-and-a-half-story glass addition so that it would no longer overpower the historic building.

Originally, the ferry building, designed by Walker & Morris, had three stories. A fourth story, added in 1957, will be removed.

The architects set back the glass structure more than nine feet, reducing the size of the hotel by 3,625 square feet. They also decided to restore four cupolas facing the river. Removed in the 1930s, each cupola was 50 feet tall, including a 25-foot spire. The cupolas will be made of fiberglass and will cost at least $500,000 each, the architects said.

Reconstructing older elements is something modernists usually resist, said Jonathan Marvel, one of the architects. “To come back with the cupolas took a little adjustment for us,” he said.

But recreating them will call more attention to the original building, said his partner, Robert M. Rogers. “The addition becomes more deferential,” he said. “I think that’s the balance they were seeking.”

At the hearing, Robert B. Tierney, the commission chairman, praised the redesign as “extraordinarily sensitive.” But Roberta Brandes Gratz, one of two dissenting commissioners, complained that the building would be compromised by a “top heavy” addition.

With the landmarks commission approval behind them, the developers must now go through the city’s seven-month land-use process.

Dermot, which redeveloped the Williamsburgh Savings Bank in Brooklyn as a condominium building in partnership with Canyon-Johnson Urban Funds, will also seek an institutional partner for the Battery Maritime Building, Mr. Benjamin said.

An agreement has been reached with a West Coast-based boutique hotel operator, but Mr. Benjamin would not disclose the company’s name.

New York hotels have had three record-breaking years in a row, but competition is likely to increase now that a number of new hotels are being added to the market, including several in Lower Manhattan, said John A. Fox, a senior vice president at PKF Consulting, which specializes in the hotel industry. Though there are no other hotels on the water, the nearby Ritz-Carlton Hotel offers unobstructed views of the harbor.

However the issue of the public space at the Battery Maritime Building is resolved, Lower Manhattan, a growing residential neighborhood, is likely to get a food market, Councilman Gerson said. “It doesn’t necessarily have to be at this location,” he said.

General Growth Properties, the Chicago-based company that is redeveloping the South Street Seaport, plans to open a modest-size food market in outdoor but covered space at the former Fulton Fish Market, said Michael McNaughton, a vice president.

For the Battery Maritime Building, the main issue is ensuring that the Great Hall remains public, said Julie Menin, the chairwoman of the local community board.

“Unfortunately, we are seeing more and more true landmarks not available for public use,” she said, citing 55 Wall Street, a McKim, Mead & White building that became the private Cipriani Club Residence after its short life as the Regent Hotel.

“We want to see full round-the-clock public use,” she said.
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 1st, 2008, 12:48 AM   #1344
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://www.nypost.com/seven/02262008...cets_99342.htm
MORE FACETS

EXTELL'S DIAMOND DISTRICT PLANS

February 26, 2008 -- AS the diamond dis trict's 900,000-ton gorilla comes closer to bursting out of the earth, West 47th Street landlords and gem dealers are sweating over developer Gary Barnett's every move.

The mega-mammal, of course, is 44 W. 47th St., aka 55 W. 46th St. - the 40-story Diamond Tower that Barnett's Extell Development Co. is erecting on the south side of West 47th between Fifth and Sixth avenues as a home for the jewelry industry.

Extell is, as they say, "teeing up" the job. It filed foundation plans with the Buildings Department last week, and the through-block crater is alive with the din of excavation. It has tapped a CB Richard Ellis team led by Stephen Siegel and Howard Fiddle to market office space that will share the tower with jewelry industry tenants.

But Extell chief Gary Barnett laughed off the buzz appearing in Diamond District News, a monthly newsletter widely read on West 47th Street, that he's also buying up 20 and 30 W. 47th as part of a scheme to take over the entire block.

"Absolutely not," Barnett told us. "We bought a few [other] small buildings [nearby] only because we were assembling a lot of air rights."

He said the Diamond Tower project was on schedule and, "It will open in two years."

Extell has long planned to divide the new skyscraper into two portions - one for jewelry tenants with a lobby on West 47th Street, and one for commercial office tenants with a lobby on West 46th.

Asked if there was any change in that strategy, Barnett said no - but, "if I had an offer for the whole building, it would be hard to turn them down." He said Extell was in serious talks with several large prospective tenants.

Was one of them Lehman Bros., as another buzz on the block had it? "I can't talk about anyone," he said.

The close-knit diamond industry community was wary of the project at first, fearful it project threatened smaller landlords who would lose jewelry tenants to the new tower.

Some neighboring landlords opposed Extell's bid for tax relief. The city's Industrial Development Agency granted tax breaks to Extell worth up to $50 million - but only if at least 85 percent of the new tower is leased to jewelry tenants and at least 50 percent of it to companies either new to the city or expanding.

Resistance to Extell weakened as it became clearer that the new tower was inevitable. Recently, the 47th Street Business Improvement District even invited Extell's project manager, Raizy Haas, to sit on its board.

BID President Michael Grumet told us, "She [Haas] made a very significant, $50,000 contribution" to the BID. We look forward to working with Extell to build the future of the diamond district."

At least some landlords believe everyone can benefit from a striking new tower amidst the street's largely unimproved older structures and scruffy street environment.

Kenneth Kahn, a principal of Kenart Realties, which owns 10 W. 47th St., said, "We've appealed to the city and the BID to help upgrade the street." Among the things Kahn would like to see is a ban on "guys on the sidewalk who try to hawk you into their buildings."
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 1st, 2008, 11:33 PM   #1345
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://www.nysun.com/article/71989
Luxury Units Set To Rise Where Horses Once Trotted

By BRADLEY HOPE
Staff Reporter of the Sun
February 28, 2008

Final approvals have been granted to begin the transformation of a historic horse stable on the Upper West Side, the Claremont Riding Academy, into high-end condominiums.

According to the plans, which the Landmark Preservation Commission approved on Tuesday, the carriage lift will become an elevator to transport vehicles to a subterranean parking garage, while the wooden hay chutes, riding arena, and stalls will be gutted to make way for nine luxury units. "It's a building with character and history," the architect for the project, Sherida Paulsen of PKSB Architects, said. "We are looking for many features to relate back to its original use." The units, which will include a penthouse with a terrace, will boast wide wooden floorboards and copper and soapstone detailing to evoke country houses or barns, Ms. Paulsen said.

Not everything can be saved. The 115-year-old building's original wood structures will have to be gutted because they are imbued with the smell of more than a century's worth of manure.

"Horses and wood: You just can't get the smell out," she said.

The former owner of the stables, Paul Novograd, sold the five-story building for $14 million last year to a development group that includes James Rinzler of Dominion Management, according to a deed filed with the city. Some interior demolition has already begun, and the developers are aiming to begin marketing the apartments toward the end of 2008.

Mr. Rinzler and a spokesman for the development declined to comment.

While the development is full-steam ahead, some neighborhood residents say they are pained by the absence of horses, which have been a presence on the street since 1892.

"My daughter would check in on the horses every day after school," the co-chairwoman of Community Board 7's land-use committee, Page Kelly, said. "It's going to be a great residence, but we're still pining the loss of the ability to ride horses in Central Park. It was such a picturesque activity for the neighborhood."

Until last April, experienced riders could rent horses to ride on the bridle paths of Central Park for $55 an hour. Children and adults could practice or take lessons in an arena on the ground floor. The building, originally constructed as a public livery for horses, has been a riding school since 1927.

In testimony to the Landmark Preservation Commission on Tuesday, a preservationist group on the Upper West Side, Landmark West, asked for "a moment of silence for the Claremont Riding Academy."

"Not only do we miss the clopping sounds of hoof beats on West 89th Street, but the absence of horses in Central Park calls the future of its bridle paths into question," a group member said. Landmark West stated opposition to some minor points of the renovation, but the commission overruled and voted unanimously to approve the project.

The building, which Mr. Novograd's father, Irwin, bought in 1943, was nearly lost once before when the city condemned it for public housing in 1965. Several buildings were torn down in the area, but a fiscal crisis in 1977 scrapped plans to demolish the stable. The family was able to reacquire the building in the late 1990s.

But last April, the Novograd family said goodbye to the stables again, bowing to what Mr. Novograd described as high taxes and the need for extensive renovations. He distributed the 45 horses to a riding school he owns in Maryland, his rural home in Roscoe, N.Y., and the Yale equestrian program, according to a New York Times article. He didn't respond to messages left at his home this week.

For the several hundred residents who rode the horses in the park, though, one reminder of its days as a stable is a horseshoe carved into the keystone of the central arch.

"If you loved animals and horses, this place was like heaven, and it was always an enormous release from the pressures of a day in the city," Ms. Kelly said. "We are starting to lose the charm and eccentricities of what makes New York so livable by losing places like Claremont."
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 1st, 2008, 11:58 PM   #1346
Unionstation13
Registered User
 
Unionstation13's Avatar
 
Join Date: Aug 2006
Location: Indianapolis/Lafayette
Posts: 3,439
Likes (Received): 37

Is the facade also going to be saved?
__________________
Peter- "Geesh, Meg is in there taking a nap under water!".
Unionstation13 no está en línea   Reply With Quote
Old March 3rd, 2008, 06:11 AM   #1347
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

I am not sure about that, but I did read that the carriage lift will be saved.
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 5th, 2008, 12:31 AM   #1348
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://www.nysun.com/article/72239
Landmarks Panel May End East Side Clash

By PETER KIEFER
Staff Reporter of the Sun
March 4, 2008

The city's Landmarks Preservation Commission may end a months-long clash that has pitted residents and preservationists against a developer seeking to erect a 14-story apartment tower in the Upper East Side Historic District.

At a meeting today, the commission is scheduled to vote on Friedland Properties' plan to tear down a two-story structure that currently houses a number of businesses, including a hair salon and the Parisian bistro La Goulue, at Madison Avenue near 72nd Street, to make room for luxury condominiums.

The proposal has outraged local resident groups, which say its height and density would dilute Madison Avenue's unique character. Last month, dozens of residents and preservationists turned out at a public hearing to testify against the plan.

According to the executive director of Friends of the Upper East Side Historic Districts, Seri Worden, the proposal to tear down the structure is a nonstarter.

"Tearing down what is a contributing building in a historic district is inappropriate and sets a terrible precedent for other historic districts," she said.

The building was constructed in 1885 by the synagogue of Congregation B'nai Jeshurun, which sold it in 1910. It then went through several makeovers before assuming its present two-story, neo-Georgian form in 1938.

Ms. Worden said she expects a strong turnout at today's meeting, at which the 11-member landmarks commission will likely discuss the proposal and the pubic comments. The panel can then vote to reject the proposal, propose modifications, or approve it outright.

"We think the size and the design is simply at odds with the location. There is nothing really like this building in the area," Ms. Worden said. The developer and the architect for the project, Page Ayres Cowley, declined to comment.
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 5th, 2008, 12:37 AM   #1349
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://www.nysun.com/article/71609
Condos at Former Tiffany Headquarters Hit the Market

'Palace of Jewels' Showcases Christie's Art at Opening Party

By BRADLEY HOPE
Staff Reporter of the Sun
February 21, 2008


Brack Capital

A rendering of the planned redevelopment at 15 Union Square West. The white brick building will be covered in a black shroud until its façade is completed later this year, but the marketing of its 36 apartments begins this week.


The buzz over the redevelopment of the former headquarters for Tiffany & Co. is reaching a fevered pitch as the new condominiums finally hit the market. The white brick building at 15 Union Square West will be covered in a black shroud until its façade is completed later this year, but the marketing of its 36 apartments began this week.

"This building is hot right now," a broker and principal at A Fine Company who viewed the building recently, Andrew Fine, said. The model apartment "is my dream apartment, and I've seen quite a few," he said.

Architect John Vellum, who designed the Tweed Courthouse near City Hall, built 15 Union Square West — dubbed the "Palace of Jewels" when it housed the luxury jeweler — in 1869. In the 1950s, the building lost its reputation as an architectural icon when its detailed cast-iron façade was covered with brick.

Brack Capital, which bought the building from Amalgamated Bank in 2006 for $80 million, is adding six stories to the existing structure and restoring the original façade, excavated from under the brick, and encasing it in dark glass. The result, as seen in renderings, is an architectural structure preserved in a black glass cube with a series of irregularly arranged glass boxes on top.

Earlier this month, the developer held a preview of the building, with more than 300 guests invited to look at a model apartment. In a nod to the high-end buyers it hopes will be drawn to the development, Brack Capital also previewed 10 pieces of art at the party that will be auctioned by Christie's in April as part of its "First Open" postwar and contemporary art auction.

The exhibition included a Thomas Struth color print that is expected to sell for between $50,000 and $70,000, a George Condo oil on canvas expected to sell for between $30,000 and $40,000, and a Robert Rauschenberg fabric collage expected to sell for between $12,000 and $18,000.

"In the past, we have shown paintings privately in the homes of potential clients," the head of sales for postwar and contemporary art at Christie's, Jonathan Laib, said. "This is something new, though. It's the kind of marketing that can really assist someone in going the distance at the auction. They can see it on a wall, like it would be in their own home."

For Brown Harris Stevens, which is marketing the building, the party was also an opportunity to access people with considerable disposable income.

"There is a common denominator in purchasing beautiful art and real estate," the broker leading the marketing of the building, Shlomi Reuveni, said.

Representatives of Christie's and Brack Capital said they want to make the collaboration a regular occurrence.

Prices at the building, which began sales on Tuesday, start at $4 million for a 2,700-square-foot, two-bedroom apartment. Three bedrooms start at about $6 million, and the ceilings in many of the apartments are 16 feet. Already, there has been a strong interest from foreign buyers and those wishing to own larger spaces, Mr. Reuveni said.

"One thing we are hearing from buyers right now is a tremendous interest in combinations," he said. "They want big apartments."

The amenities of the building also hark back to an earlier era of wealth. Valet parking will be offered, for instance.

Mr. Reuveni said the building has worked out a deal with a nearby parking garage to reserve a number of parking spaces, and it is working out the logistics for residents to be able to pick up and drop off their cars in front of the building.

Interior designer Vicente Wolf is overseeing the interiors and the lobby. The building also is outfitted with a 24-hour doorman and concierge service, a 50-foot, two-lane pool, a gym, and a Pilates studio, Mr. Reuveni said. Residents will be able to control blinds, lighting, and temperature on one keypad, and apartments on the top six floors will have outdoor space.
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 5th, 2008, 12:43 AM   #1350
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

This article was too general to place in any of the specific threads, so it will be posted.
http://www.nysun.com/article/72146
Unease Erodes Ambition in Real Estate

By PETER KIEFER
Staff Reporter of the Sun
March 3, 2008


Getty Images

A rendering of the proposed Moynihan Transit Station to replace New York's Penn Station. A $1 billion shortfall in funding has put the project in limbo.


After years of sustained growth marked by grandiose, ambitious plans for the city, the real estate development industry is displaying troubling symptoms.

The number of citywide building permits is expected to drop, public and private funding for projects is drying up, and a stream of multibillion-dollar plans is coming in over budget and behind schedule, with many designs being scaled back or scrapped altogether.

"There are very disquieting signs that have ominous implications for the next few years," the president of the New York Building Congress, Richard Anderson, said.

Last week, the Metropolitan Transportation Authority said the price tag for the completion of the first leg of the Second Avenue subway line had ballooned to $4.35 billion from $3.8 billion. Critics are questioning whether Lower Manhattan transportation projects such as the Fulton Street Transit Center and the Santiago Calatrava-designed PATH Station are worth their soaring price tags, and the projects' elaborate designs are being pared down.

The planned redevelopment of Penn Station has a budget shortfall of at least $1 billion. A public spat erupted between city and state officials over Governor Spitzer's plan to scrap the expansion of the Jacob K. Javits Convention Center after cost estimates more than doubled to $5 billion, and last week one of the five original bidders in the proposed development of the Hudson Rail Yards project on Manhattan's West Side — Brookfield Properties — dropped out. A shortage of federal housing subsidies and ongoing litigation from resident groups is threatening Bruce Ratner's $4 billion Atlantic Yards project near downtown Brooklyn. The list of public and private projects on hold seems to grow on a weekly basis.

The president of the Real Estate Board of New York, Steven Spinola, said widespread concern in the real estate community has — so far — fallen short of "panic."

"I don't know if they are collapsing," Mr. Spinola, a former deputy mayor for economic development, said. "There is clearly concern among our members, which is probably more than I feel. Four months ago people believed that if they had a project, that the financing would be available even if they had to put more equity in, or maybe the costs might be slightly higher. A month ago there was a concern that the financial institutions would not want to finance anything. I think we'll get over that bump."

In many instances, the current development projects are so large that it could be necessary, and even acceptable, that construction schedules last longer than two business cycles, he said.

Many observers say the problems concerning the large development projects are myriad, and the difficulty in isolating the causes speaks to the complexity of a number of these deals. The approvals process can drag on for years, and the increase in annual construction costs of an average of 12% over each of the past few years has been a continual thorn in the side of developers. In addition, the credit crunch has led to more restrictive lending policies and greater caution at the state level, experts say. City and state tax revenues are shrinking, and the mayor and governor are looking for budget cuts.

A professor of urban policy and planning at New York University, Mitchell Moss, said the current situation is the result of a glut of projects that have been pushed through without enough reflection by elected officials. Mr. Moss said he believes the only way out of the current situation is increased commitment and investment by the state, and Governor Spitzer.

"The dilemma is we need to be prudent, and part of the problem is that every politician has their favorite project," Mr. Moss said. "The political system has encouraged a large number of projects to enter the planning and design phase, but not enough to get to the implementation phase. There is a need to recognize that we have to pick the projects that are a high priority rather than let a thousand flowers bloom."

When asked which of the projects he deemed most important, Mr. Moss was unequivocal: the planned redevelopment of Penn Station, which many see as the key development project that could open up the West Side of Manhattan.

Known as the Moynihan Station project, after a late senator of New York who was the original proponent, Daniel Patrick Moynihan, the plan currently has a budget shortfall of at least $1 billion and typifies the complexity of the hybrid public-private public works projects that are becoming more commonplace. The project requires coordination among Amtrak, the Port Authority of New York and New Jersey, New Jersey Transit, the Long Island Rail Road, the city subways, and Madison Square Garden, which owns the air rights above the arena along with two private developers — Vornado Realty Trust and the Related Companies.

The man charged at the state level with keeping the Penn Station project on track is the co-chairman of the Empire State Development Corp., Patrick Foye. In an interview, Mr. Foye called the project "one of the most complicated things" that he has ever worked on. "The challenges are many and large, but the deal was dead a year ago and we are now in the public hearing process that ought to be concluded by the end of the year. There are still some challenges we have crossed off the list and there are lots of challenges left. But we are committed to getting it done."

Mr. Foye's counterpart at the city level is the deputy mayor for economic development, Robert Lieber. In an interview, Mr. Lieber said he is confident that the market would work itself out, and noted how any assessment of the current state of affairs must be kept in perspective.

"I don't have a crystal ball," he said. "I don't know how these financial markets are going to react. I am confident that the fundamentals of our economy and our capital structure will prevail. And these projects are sustainable; they aren't born of a bull market and they won't die in the bear market."

Mr. Lieber said one of his biggest concerns is the consistent rise in construction costs and the mounting delays between when a project is announced and when construction actually begins.

"What you design as feasible today — if you are not in the ground with it today — by definition is going to have some kind of a shortfall in a year. And if it is three years, you are going to be 30% over budget. So that is part of what is happening," he said.

Mr. Anderson of the Building Congress concurs.

"The government has loaded up the development process with burdensome and costly reviews and contractual stipulations, more so than any other city in the U.S.," he said.

As it stands, many in the industry are in wait—and—see mode even while bracing for tough times ahead. There are some large projects that appear to be on schedule for completion. Both the new Yankee Stadium and the new stadium for the Mets, known as Citi Field, are on track to be completed for opening day in 2009. The new Goldman Sachs headquarters in Lower Manhattan and the new Bank of America office tower near Bryant Park in Midtown appear set to open on schedule. After long delays at ground zero, work is under way on the Freedom Tower, and the Port Authority recently handed over development sites to Silverstein Properties for the construction of new office towers along Church Street.

The chairman of the Singer & Bassuk Organization, Andrew Singer, said he thinks a scaling back of the number of projects could alleviate the rising construction costs that have come with the development log jam over the past few years. On the financing front, Mr. Singer has already seen a marked change in financing structures from even just a year ago, when a developer could obtain between 90% and 95% of the costs of a project from available financing. He said today that figure is down to around 70%.

"That is not a bad thing," he said. "It means that those projects that go ahead are with the developers that are the most substantial. It is a de-leveraging of the real estate business in general. The high leveraging has created this bubble. It hasn't burst yet. Whether the air gets let out or it comes crashing down remains to be seen," he said.
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 6th, 2008, 12:52 AM   #1351
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://www.nydailynews.com/ny_local/...orm_plans.html
L.I.C. strife over CUNY dorm plans

BY BRENDAN BROSH
DAILY NEWS WRITER

Tuesday, March 4th 2008, 4:00 AM

A developer is looking to build a dormitory and mixed-use building that will bring some 200 CUNY students to Long Island City.

The initial proposal, which called for a 13-story residential building on Fifth St. with 169 apartments, ground-floor retail and 220 grad-student dormitory units, was unanimously rejected by Community Board 2's land use committee in November.

Now the owner, OCA LIC, plans to reintroduce the plan this spring, and has offered space to the Queens Council on the Arts to sweeten the deal, sources told the Queens News.

"We think we weren't as sensitive as we should have been in the past presentation," said Sid Davidoff, a spokesman for OCA. "We're going to spend millions of dollars to clean up the contaminated site. We're adding to the community, not taking away."

But some locals are still unhappy about the proposal, noting the neighborhood shouldn't become a "bedroom community" for transient residents.

"We don't need a dorm here," said Terri Mona Adams of the Hunters Point Community Development Corp. "We need people who want to build a future here."

Some locals said they were also troubled by the magnitude of the project in a neighborhood where condos have already proliferated in recent years.

"There's a dumptruck going down our block every five minutes. The scope and size of the project is out of whack," said William Garrett, a father of three and head of the 47 to 47 Residents Group in Hunters Point.

A CUNY spokesman said the building will house doctoral candidates, some of whom will be living with their families.

"These are not undergraduate or even master's level students," said Michael Arena, a spokesman for CUNY. "They're Ph.D. candidates. They generally spend more than four years living, studying and preparing for their doctoral theses."

Community Board 2 Chairman Joe Conley wrote in November that the initial proposal "does not conform to current zoning and will do nothing to enhance the community."

The development takes advantage of a loophole that allows them to skirt zoning restrictions as long as the building has a "community use."

Councilman Tony Avella, an outspoken critic of the provision, said he is disturbed with the number of dormitories slated to be built in Queens.

"There are so many loopholes that allow developers to build whatever they want," said Avella. "Everywhere you turn around there's another institution that wants to expand at the expense of a community."

Community groups have vowed to fight the project.

"We don't need people coming here and dictating to us," said Adams. "The neighborhood doesn't want it."

A new hearing for the proposal is expected sometime in the spring, according to the city Board of Standards and Appeals.
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 8th, 2008, 10:29 PM   #1352
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://www.nydailynews.com/services/...ng_to_pro.html
23-story luxury condo tower coming to Prospect-Lefferts Garden

By JOTHAM SEDERSTROM
DAILY NEWS STAFF WRITER

Friday, March 7th 2008, 4:00 AM


Architect's view of 23-story glass tower slated for Lincoln Road in Prospect-Lefferts Garden area.

The rush to develop in Brooklyn is moving south.

A glassy tower that in recent years would seem more likely in Williamsburg is coming to Prospect-Lefferts Garden, an area that has avoided the development bug.

Park Tower, a 23-story luxury condo tower that will overlook the eastern edge of Prospect Park when it's completed next year, will include ground-floor shopping, a rooftop terrace and views of the 526-acre park.

"It's always been a fantastic area and this part of the block is really at the center of the revitalization of the neighborhood," architect Tom Gilman said of the 88,000-square-foot glass tower slated for Lincoln Road and Ocean Ave.

Owned by Brooklyn developer Henry Herbst, the 80-unit tower isn't the first modern-looking condo project to find inspiration from Prospect Park's grassy views.

One Prospect Park, a condo building designed by architect Richard Meier and rumored to have drawn celebrity tenants, is being built at the northern tip of the park.
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 8th, 2008, 10:31 PM   #1353
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://www.nytimes.com/2008/03/02/ny...ty/02devo.html
Watching the Past Come Crashing Down

By JUDITH KATZ
Published: March 2, 2008


Casey Kelbaugh for The New York Times, 2006

A town house that stood beside the private garden of Harold Evans and Tina Brown.


A FEW weeks ago, while attempting to enjoy a steak dinner at the ridiculous hour of 5 p.m. because who can get a last-minute reservation at Peter Luger at a civilized hour, I overheard a New York couple lamenting to a couple from Texas that the city was just not what it used to be.

The New Yorkers complained about the chain stores, the loss of New York institutions, the displaced struggling artists, and the rising multitude of glass condominiums for the hedge fund set.

Their litany of despair fell on deaf ears. The Texans couldn’t imagine being in a more exciting city.

As a native, I agreed with the New Yorkers, so much so that when the city started a global advertising campaign in the fall with the theme “This Is New York City,” I thought that the only way the slogan would make sense would be if they added a question mark so it read, “This Is New York City?”

And now I’ve been given the equivalent of house seats to one of those suspect changes, daily, right outside my dining room window. The “show” began years ago, on the block of East 57th Street between Sutton Place and First Avenue, shortly after the death in 2004 of the renowned Broadway composer Cy Coleman.

Coleman wrote many hit shows and songs in the first-floor office of his town house, which stands (stood) in front of my apartment. In 2005, when his widow put the home up for sale, I wondered who the new owners would be, but only for a New York minute.

The town house, from the mid-19th century, was attached on one side to a 1920s co-op. On the other side was an ivy-covered wall, which separated it from a charming garden, part of a three-story maisonette in another 1920s co-op. That triplex, reputedly once inhabited by the 1930s debutante Brenda Frazier, is now occupied by Tina Brown and Harold Evans, the powerful media couple, who, until construction hampered their style, held chic garden parties attended by New York’s A-list.

I didn’t have a river vu or a panoramic skyline view, but thanks to the location of my building, I had a front-row seat on New York history and glamour. Like a demure 19th-century dowager hanging onto the arm of her Roaring Twenties upstart, the old town house clung to its younger neighbor. The view afforded me great contentment and led to endless flights of the imagination.

Sometimes, on a cold, foggy winter night, when the casement windows of the 1920s co-op glowed with light from inside and the smokestacks from the town house emitted steam the color of charcoal, I felt cozily a part of another, more gracious era.

Other times I imagined the lives of the 19th-century tenement dwellers who lived on my side of the street during the years when the neighborhood was being transformed from an industrial area and slum into an upscale residential district.

I pictured them crammed into their tiny apartments, looking down with contempt on the owners of the town house, much the way I now look out at the 15-story glass-and-steel creation being erected on the site of the old Coleman town house and marketed, in 21st-century “truthiness,” as town houses stacked on top of one another. Isn’t that called an apartment building?

I hadn’t realized how much affection I had for the 19th-century town house, or the New York that it and the Jazz Age co-ops represented, until I watched as a crew started to take the house down, brick by precious brick, almost two years ago.

CHANGE had been announced with a bellow back in February 2006, when some guy sat outside in the town house garden in the middle of a freezing winter night and started singing at the top of his lungs while accompanying himself on a loud musical instrument.

In my imagination, this victory cry could be coming only from the developer, celebrating his purchase and making it known what he thought about the many people who lived, in the words of the marketer, in “two stately 1920s cooperatives” that border the town house “in the heart of a quiet neighborhood, rich in social and architectural history.” Never mind that the quiet would be disturbed and the architectural history compromised.

For two years, work has started and stopped, and started again, depending on the outcome of some lawsuits and the resolution of various Building Department violations. Every day, as if visiting a dying friend, I’d look outside to see how badly things were going. Then I’d obsessively Google the address, sometimes several times a day, the way people in small towns monitor police radios to keep up on what’s happening in their town.

Now, when I look outside my dining room window, I don’t see light coming from the casement windows but rather drawn curtains. The town house is gone, and taking its place is what I assume is the beginning of a foundation for the “stacked town houses,” the new sliver apartment building with its seven duplex and triplex apartments.

So a new era begins on my block, and once again I have a bird’s-eye view of history, one in which a 150-year-old town house is demolished so seven purchasers can spend millions and have the privilege of living in (or more likely visiting) our city.

The building is being promoted as perfect as a second residence for “privileged international and domestic residents and visitors,” and offers a “lifestyle management service” to perform tasks like making introductions “to key personnel at popular restaurants and private clubs.”

I have gone through all the stages of grief for the loss of my quaint old view and the genteel town house. I’ve advanced to accepting the fact that even staid, uncool neighborhoods like mine are relentlessly transforming themselves. So now I’m wondering how this “truly modern” addition to the neighborhood will affect the value of my apartment, and trying to figure out a way to meet this lifestyle manager person. Maybe she will be able to get me an 8 p.m. reservation at Peter Luger.

Judith Katz is a theater scout for Paramount Pictures and producer of the documentary “What I Want My Words to Do to You,” about a writing group at the Bedford Hills Correctional Facility.
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 8th, 2008, 10:38 PM   #1354
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://www.nytimes.com/2008/03/09/re...ref=realestate
Powerhouses to the People

By C. J. HUGHES
Published: March 9, 2008


Patrick Andrade for The New York Times

JOLTS FROM 1909 A Long Island City, Queens, condo first designed as an electrical plant.


AS long as lights go on when switches are flipped, most people don’t think much about where power comes from. But what if you lived, shopped, or sipped drinks inside a former power plant?

Developers have recently taken an interest in reusing these large-scale industrial relics, even if converting them may require cleaning soil, adding floors and removing smokestacks.

The PowerHouse Condominium at 50-09 Second Street in Long Island City, Queens, for example, will have 447 units on the site of a structure designed by McKim, Mead & White in 1909 to provide electricity for trains.

The $200 million project, which is being developed by the Brooklyn-based CGS Developers and Zigmond Brach, is going up in three phases.

The first, to be completed in August, offers 177 units, from 500-square-foot studios to 1,500-square-foot three-bedrooms, with walnut floors and washer and dryer hookups. They are priced from $500,000 to $2 million, and 30 percent have sold since October, says Cheskel Schwimmer, a CGS principal.

These first apartments are also the only ones to be contained in actual sections of the former plant, which retained its tall arched windows but lost its four 275-foot chimneys.

It came close to losing a lot more than that. The original proposal was to raze it, which would have saved $40 million. But the community outcry forced Mr. Schwimmer to alter his plans, he said.

Preserving at least some of the building may work to his advantage. “People like history and want to live in historic businesses,” he said.

The restoration might also spur a neighborhood revitalization, as is hoped in Jersey City, which has already coined the name Powerhouse Arts District in honor of a plant yet to be converted on Washington Boulevard and First Street.

First, an attached substation for the PATH subway needs to be relocated, a four-year process that will begin in April, according to Robert Antonicello, the executive director of the Jersey City Redevelopment Agency.

His group also recently hired the architecture firm Beyer Blinder Belle as part of a $3.2 million effort to stabilize the water-damaged 1908 structure, Mr. Antonicello said.

By 2013, the plant is to have 180,000 square feet across five floors, filled with galleries, restaurants and offices, under a $90 million plan from the Cordish Company, a developer that has transformed plants in Baltimore, where it is based, and Richmond, Va.

The progress in Jersey City may be welcome news to the Athena Group, a developer that has three residential projects at various stages of development nearby.

The first, which has been completed, is A Condominiums, with 35 stories and 250 units — from 515-square-foot one-bedrooms to 1,366-square-foot two-bedrooms — priced from $300,000 to $1.2 million. Ninety percent have sold since November 2006, said Eugene Cordano, an agent at Halstead Property.

The fate is less certain for an 80,000-square-foot power plant on the Hudson, in the Glenwood section of Yonkers.

The REMI Companies of Manhattan had planned to build 400 units there until a few weeks ago, when talks fell apart with the seller, Kenneth Capolino, a contractor based in White Plains, said Erik A. Kaiser, REMI’s chief executive.

The new plan has been scaled down by $100 million, to $150 million, and calls for 250 units, he said.

Although the plant would lose its two chimneys, Mr. Kaiser says, the bulk of its design won’t be compromised — an aspect essential to marketing.
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 9th, 2008, 04:30 AM   #1355
Don Omar
Bark twice if in Milwauke
 
Don Omar's Avatar
 
Join Date: Aug 2006
Location: Nueva York
Posts: 487
Likes (Received): 36

Moynihan Station: All That Doubtful Press Actually a Good Sign


The Empire State Development Corporation has been reluctant to make public any renderings of what Moynihan Station would look like, particularly Moynihan East. Finally, a first glimpse of the grand new train station has been given to us.

by: Alec Appelbaum
03/06/08
nymag.com

Negotiation via blind items drives epochal real-estate projects, as well as ballplayers' contract haggling, and we've uncovered reasons to view recent stories about the Moynihan Station struggles as part of an encouraging trend on the project. For one thing, Governor Spitzer has personally entered negotiations. Spokesman Errol Cockfield confirms that last week Spitz convened his first face-to-face meetings with the Dolans (who own Madison Square Garden) and the developers who own air rights to the intended Moynihan site. One player intimate with the negotiations described this as “shuttle diplomacy,” and apparently it's had an effect.

“I'm seeing real positive movement — all the players want to make this work," said Bob Yaro, who carries the civic-consensus banner as head of the Regional Plan Association. According to our source on the inside, parties are stalking a grand bargain in which the Feds would drum up $500 to $550 billion, in part via tax credits that the House Ways and Means chairman Charles Rangel would snag, and the city and state and Garden and developers would match that sum. However the players come to terms, it's clear that Spitzer has tied Moynihan's success to his own credibility. “It's among his chief economic-development priorities,” said Cockfield. So the daily screeds about public-private futility, say insiders, constitute a “natural part” of negotiations as private players squeeze the governor to steamroll into the discussions. Now that he has, everyone agrees, the developers gain much more by being patient than they would from pulling the plug.
__________________
Brooklyn, Bronx, Queens and Staten
From the Battery to the top of Manhattan
Asian, Middle-Eastern and Latin
Black, White, New York you make it happen

- Beastie Boys
Don Omar no está en línea   Reply With Quote
Old March 9th, 2008, 02:54 PM   #1356
ZZ-II
I love Skyscrapers
 
ZZ-II's Avatar
 
Join Date: May 2006
Location: Near Ingolstadt in Bavaria
Posts: 33,512
Likes (Received): 6535

, that plan looks great!

Last edited by ZZ-II; March 9th, 2008 at 03:02 PM.
ZZ-II no está en línea   Reply With Quote
Old March 9th, 2008, 10:25 PM   #1357
FerrariEnzo
Registered User
 
Join Date: Dec 2003
Location: New York-Cleveland
Posts: 353
Likes (Received): 9

550 billion?? i dont think so.
__________________
Abstract Thinking: MENSA-MEGA
www.us.mensa.org
http://www.megacenter.org/
Mega International resides on that level.
FerrariEnzo no está en línea   Reply With Quote
Old March 10th, 2008, 12:19 AM   #1358
ZZ-II
I love Skyscrapers
 
ZZ-II's Avatar
 
Join Date: May 2006
Location: Near Ingolstadt in Bavaria
Posts: 33,512
Likes (Received): 6535

, no definitely not 500 billion
ZZ-II no está en línea   Reply With Quote
Old March 10th, 2008, 04:33 AM   #1359
TalB
Refugee
 
TalB's Avatar
 
Join Date: Jun 2005
Location: Pleasantville, NY
Posts: 7,537
Likes (Received): 78

http://www.nydailynews.com/news/2008...lated_to_.html
Troubles hit Chelsea building slated to carry autos up to condos

BY BRIAN KATES
DAILY NEWS STAFF WRITER

Sunday, March 9th 2008, 4:00 AM


The union says the Chelsea condo is out of plumb.


'Sky-garage' at 19-story Chelsea condo would lift owners - in their cars - right to their front door.

High rollers who pony up millions for an ultraluxe Chelsea condo will be able to drive into an elevator and be lifted, car and all, to their apartment door.

But they'd better hit the brakes on the Rolls.

The 19-story building rising at 200 11thAve. with a first-of-its-kind "sky garage" is so plagued with problems that the Buildings Department has halted all work there, citing "questionable construction practices."

"The pillars forming the exterior walls are misaligned," Buildings Department spokeswoman Kate Lindquist said after a stop-work order was issued Wednesday. "This could be characterized as a structural deficiency."

The building is truly unique. While car elevators have long been used in commercial buildings, this is touted as a first in the U.S. for individual apartments.

Fourteen of the 16 condos, designed by high-profile architect Annabelle Selldorf, feature the 300-square-foot elevator garages. They sell for $6 million to $17.5 million.

Owners drive into the elevator and are lifted virtually to their apartment doors.

From the start, the building has raised concerns of community leaders, the FDNY and union activists, who are picketing to protest what they say is shoddy workmanship at the nonunion site.

"The building leans, it is out of plumb," said Tom Costello, an organizer for the New York City District Council of Carpenters.

Costello said he fears that when the condo is complete, its sculpted stainless steel exterior will mask structural deficiencies. "It's like bad plastic surgery," he said. "The skin will look great, but the skeleton is rotten."

Neil Wexler, a prominent structural engineer who examined the building for the Daily News, said the building appears to be structurally intact, but that the crooked pillars raise concerns that "the [exterior] skin might not fit properly, causing some leaks or other architectural problems."

Lee Compton of Community Board 4, which opposed the elevator garage - promised to "raise a ruckus" with the city to make sure the building is safe.

The Fire Department initially said it was "opposed to any contemplated ... design concept with an elevator that allows apartment owners to drive and park their cars into designated garages adjoining their high-rise apartments." But fire officials changed their mind after the Buildings Department said the design called for fire-rated materials and sprinklers in the garage and lift.

The community board says the sky garage ignores zoning aimed at limiting parking in the area and contradicts Mayor Bloomberg's call for fewer vehicles in midtown.
__________________
I respected your views, so I expect you do to the same.
TalB no está en línea   Reply With Quote
Old March 11th, 2008, 12:02 AM   #1360
ZZ-II
I love Skyscrapers
 
ZZ-II's Avatar
 
Join Date: May 2006
Location: Near Ingolstadt in Bavaria
Posts: 33,512
Likes (Received): 6535

that sky-garage looks quite interesting. think it's a very good solution!
ZZ-II no está en línea   Reply With Quote


Reply

Tags
new york city

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 10:29 PM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu