Posts Tagged ‘related’
Construction Watch: New Hell’s Kitchen Tower Already 60 Stories Tall
August 5th, 2010
Posted in Manhattan Homes Real Estate News
[Photos by Will Femia.]
Yesterday the Related Companies and Tishman Construction held a little
ceremony to mark the topping out of 440 West 42nd Street. Yes, they built a 60-story tower in about 10 minutes. What is this, Inception? Not only has the Arquitectonica/Ismael Leyva Architects building reached its full height incredibly fast, but there’s also glass already covering half of the condo/rental/Yotel/Frank Gehry stage spectacular. The Land of Lincoln (Tunnel) had better get ready, because at this rate those 800 apartments are going to be filled by the time we finish writing this blog post.
· 440 West 42nd Street coverage [Curbed]
Comments Off There Will Be Blood: Bedbug Scare at Columbus Circle’s Time Warner Center
July 29th, 2010
Posted in Manhattan Homes Real Estate News
Never before has the need for a New York City Bedbug Czar been so abundantly clear: The bloodsucking bastards are making a move on some of Manhattan’s priciest real estate. Maybe. The Related Companies, developer of the twin-towered Time Warner Center shopping mall/offices/hotel/condos complex, sent out this alert yesterday to company employees working in the 60 Columbus Circle side of the TWC compound, aka Related HQ:
To All Staff,As you might already be aware, a minor bed bug condition was discovered at our 55th Street offices.
As a precautionary measure, we have engaged an exterminator to conduct an investigation on the, 18th, 19th, and 20th floors at 60 Columbus tonight beginning at approximately 6:30pm. The primary method for detection is a trained canine who will be accompanied by a handler as well as a Related employee. So, please do not be alarmed if you should see them walking the floors.
Again, this is only a proactive and precautionary inspection. You will be informed of the results as soon as I receive them.
Please do not hesitate to contact me with any questions or concerns.
Thank you
Liz
Lizabeth Fuchs
Property Manager
The contaminated zone appears to be 423 West 55th Street, where Related has some offices. So what does this mean for the Time Warner Center penthouse trying to fetch $73 million? Well, if there are bed bugs in the building, expect the real estate brokers to commission a report proving that the critters can’t survive at that altitude.
· Time Warner Center coverage [Curbed]
12pm UPDATE: A fresh memo to Related staff says “the canine completed its investigation through the 18th, 19th, and 20th floors last night. No evidence of bed bug activity was found.” And for you 55th Street employees, hope you enjoyed your access to Whole Foods.
Comments Off Our Suburb: Roosevelt Island: A Place That Actually Exists
July 23rd, 2010
Posted in Manhattan Homes Real Estate News

When it comes to Roosevelt Island, New Yorkers fall into three categories: 1) Those who live on Roosevelt Island. 2) Those who have briefly fantasized about life on Roosevelt Island, visions of saved down payment dollars swimming in their brains, before immediately snapping out of it and vowing never to think such thoughts ever again. 3) Roosevelt whatnow? It is for this latter category that journalists often take up the cause of trying to explain this mysterious two-mile strip of land floating in the East River, technically part of Manhattan and best known for its bland apartment towers and creepy hospital ruins. Today it’s the Wall Street Journal having a go, and the buzzword is one that sticks in the craw of many city dwellers: Roosevelt Island is downright suburban.
After getting into the history and failures of the master-planned community (Philip Johnson’s “no cars!” rule never quite caught on), the Journal’s Craig Karmin focuses mainly on the latest additions to the real estate scene, including the Riverwalk buildings from the Related and Hudson companies. Sales have been mixed, mirroring the bumps and bruises of the larger NYC market, but the developers feel like they’ve found a strategy that works. Says a Hudson exec, “Our motto used to be: Manhattan’s Newest Village, but we realized people considering living here didn’t want urban. They wanted open space, water views, something more peaceful.” Adds one happy islander, “We were looking for someplace with a suburban feel but since I work long hours in midtown, we didn’t want a long commute.”
Of course, beneath every blissful suburb lies a few rotten truths, and we’re not talking about Roosevelt Island’s underground trash tubes: “Retail and dining options are few; there is one supermarket for the entire island, though Fresh Direct delivers. With the tram to Manhattan under repair until early fall, transportation off the island has become limited.” And the developers aren’t sure when they’ll feel like exercising their right to build more glassy condos, if ever. They’ll have to see how the war goes, first.
· Roosevelt Island Pitch: Better than the ‘Burbs [WSJ]
Comments Off CurbedWire: Durst Gets Piece of 1 WTC; Broadway Building Going Hotel
July 7th, 2010
Posted in Manhattan Homes Real Estate News
FIDI—As expected, the Port Authority today selected the Durst Organization over the Related Companies to pump at least $100 million into 1 World Trade Center in exchange for a piece of the office tower’s action. The formal agreement will be finalized in the next 30 days. The Observer’s Eliot Brown reports Durst’s bid “was viewed as more of a traditional one than that of Mr. Ross, who pitched the building, once known as the Freedom Tower, as a destination that would be complete with amenities like fitness centers (akin to the Time Warner Center, which he developed).” So instead of an Equinox, 1 WTC may get Anna Wintour. Upgrade? [CurbedWire Inbox; NYO]
FLATIRON—The four-story building at 893 Broadway (top right) might not seem like much, but it’s set to become the Union Square area’s latest hotel. A tipster writes: “Does anyone know anything about a new hotel being developed at 893 Broadway [between E19 and E20]? have seen the reno work taking place… just asked a tradesman… and he told me building is being reno’d to be a hotel with ground floor restaurant.” The switch to a 36-room hotel from was green-lighted by the DOB in April. [CurbedWire Inbox]
Comments Off Four-Legged Fiends: Related Management has banned dogs from…
July 7th, 2010
Posted in Manhattan Homes Real Estate News
Related Management has banned dogs from some lawns in the Riverwalk complex on Roosevelt Island, and now a bigger dog-on-grass ban may be in the works. The news comes after dogs were blamed for hurting the high-end real estate market and forced to undergo rigorous co-op board interviews. Apparently the city is now being run by cats. [Roosevelt Islander]
Comments Off CurbedWire: Stadium’s Death Gives Park Life; Harlem’s 2280 FDB Kicks Off Closings; Flushing’s Million-Dollar Condos
June 29th, 2010
Posted in Manhattan Homes Real Estate News

[Photo and rendering via NYC Parks Department.]
BRONX—Today a bunch of important guys in suits showed up in the Bronx to break ground on Heritage Park, the 10-acre grasstravaganza on part of the site of old Yankee Stadium (R.I.P.). Heritage Park will have three fields, new bleachers, a comfort station, a play area and “elements commemorating the old Stadium,” but not the big one some people wanted to save. DER-EK JE-TER! [CurbedWire Inbox]
HARLEM—One of the fancier new pads in the Frederick Douglass Boulevard development hot zone is 2280 FDB, and according to a press release the building just got its TCO and closings will begin this week. Remaining residences in the 89-unit, 12-story building are priced from $509,000 to $1.889 million. [CurbedWire Inbox]
FLUSHING—Troubled shopping mall/luxury condo development Sky View Parc is back on track in a big way, a tipster whispers: “I hear the first closings of apts at Sky View Parc are starting today…this thing is built on the flushing river and the apts are selling for about $650 per square foot…so the sales office says. I heard they have sold several 2 bedroom apts for around 1 million and 3 bedrooms for up to 1.3 million… what? The apts are built on top of a new Target, Best Buy, Bob’s Furniture and Marshalls and they call it luxury…wow…I hear Related recently swooped in and has taken over sales. Guess this is the new Time Warner Center for Queens.” Words we’d never thought we’d hear. The project’s website says prices top out over $2 million. [CurbedWire Inbox]
Comments Off Listicle Alert!: The Observer’s Power 100, ranking the…
May 11th, 2010
Posted in Manhattan Homes Real Estate News
The Observer’s Power 100, ranking the major players in the city’s real estate game, is now online, and unseating last year’s #1 (President Obama) is—SPOILER ALERT—Related boss Stephen Ross, probably because he’s one of the few developers actually, you know, developing. We’d read on to discover the surprises and snubs, but there’s no way in hell we’re clicking through 100 slides. [NYO; '09 memories]
Comments Off Yardsmania: Following the unveiling of Related’s highly…
April 27th, 2010
Posted in Manhattan Homes Real Estate News
Following the unveiling of Related’s highly favorable deal with the MTA to develop Hudson Yards (eventually), some MTA board members are complaining they’ve had no time to review the plan before being asked to approve it. Can a $1 billion deal turn out to be highway robbery for the guy paying up? We’ll find out! [NYT; previously]
Comments Off Revenge of the Megaprojects: Related Agrees to Pay for Hudson Yards … Someday
April 26th, 2010
Posted in Manhattan Homes Real Estate News
After four delays in 18 months, the MTA has finally struck a deal with the Related Companies to develop the rail yards on the Far West Side into 26 mixed-use acres of skyscrapers and lawns known as Hudson Yards. But for those hoping that the long-awaited agreement would provide financial relief for the cash-strapped MTA and prevent subway fares from rising again in the near future, er, sorry.
The Observer’s Eliot Brown runs through some key points in the deal, which still has to be approved by the MTA’s board and signed by Related. The developer’s rent payments on its 99-year lease don’t begin until the deal closes, and the deal doesn’t close until certain triggers are hit—like the Midtown office vacancy rate falling to 11%, and Manhattan apartment prices reaching an average of $1,200/foot for a sustained period. Might this be a 99-year lease that doesn’t begin for 99 years? Well, the MTA can call in the deal whenever it wants, giving Related 90 days to close or else! Or else it, um, walks away from the risky venture and the MTA has to start over. 2019 never looked so far away, amigos.
· For Steve Ross, Rail Yards Rent Starts When Apartments Cost $1,200 a Foot [NYO]
· Hudson Yards coverage [Curbed]
Comments Off CurbedWire: 9/11 Memorial Getting Rocked; 89 Murray Up for Grabs?
April 22nd, 2010
Posted in Manhattan Homes Real Estate News

FIDI—The Port Authority’s World Trade Center Progress website has been updated with some cool construction shots of the granite coat being installed on the walls of one of the 9/11 Memorial reflecting pools. If we had no taste, this is where our “Shouldn’t the pools have gotten stoned on 4/20?” joke would’ve gone. [WTCProgress]
TRIBECA—Rental buildings changing hands between big developers doesn’t really get our juices flowing, but the number of people passing along rumors that 89 Murray is nearing a sale is getting crazy. A potential deal for the luxury rental building—which went up with condo sister building 101 Warren—could have something to do with the issues regarding 89 Murray investor/developer the Sheldrake Organization. The Related Companies is an oft-mentioned suitor for the building. [CurbedWire Inbox]
Comments Off CurbedWire: The Related Revolving Door; Jersey’s CANCOriffic CANCOlofts
March 30th, 2010
Posted in Manhattan Homes Real Estate News

RELATEDVILLEA tenant commenting on the above memo that was e-mailed to residents in Related buildings: “I will now fart every time I use the revolving door, as the increased air flow will help heat the building.” The more you know… [CurbedWire Inbox]
JERSEY CITY—A press release touting the amenity-rich and FiDI-resident-stealing lifestyle at Jersey City factory conversion CANCOlofts really CANCObangs home the CANCOmessage, don’t you CANCOthink? Check out this CANCOexcerpt:
Johnny Cruz and his wife, Lizza Cruz, formerly of lower Manhattan, searched throughout the New York metropolitan area for a year and a half before buying a condominium at CANCOlofts, the hip industrial-to-residential conversion of the former American Can Co. building at 50 Dey St. in Jersey City, N.J.
As an architect, Johnny Cruz was drawn to the building’s unique design elements: the famed industrial art deco architecture; the soaring ceilings — “you just can’t beat 14-foot ceilings,” he says; the lobby, with a television wall for displaying video art designed by the avant-garde Manhattan design firm LOT-EK; and the chic finishes, including glass tile accents and gleaming white-lacquered custom cabinetry.
But what Johnny, 37, and Lizza, 34, Cruz, who moved into their loft three months ago, didn’t anticipate about living at CANCOlofts was the way in which the building’s lavish 10,000 square feet of amenities fosters a sense of community, helping them to make friends with their neighbors and providing fun spaces in which to hold social gatherings for friends and relatives.
“We’re surprised at how many friends we’ve made in such a short time,” Johnny Cruz said. “The residents here are super — nice, stylish, accomplished. The quality of the space at CANCO attracts a great group of people.”
Johnny Cruz is a member of a group of residents who play basketball every Tuesday night at CANCOhoops, the building’s half basketball court, and the couple, who are expecting a baby, recently held a shower for more than 40 guests in CANCOparty, the private party room that residents can rent for personal functions or events. CANCOlofts’ other sociable amenity spaces include CANCOchill, the resident’s lounge, which offers two championship billiards tables and two flat-screen televisions; CANCOfun, which offers foosball and air hockey game tables; and CANCOkids, a play area for young children.
“If we had had the shower in our condo, it would have been cramped,” Johnny Cruz said. “But everyone was very comfortable at CANCOparty. And it allowed all my guests to have a wonderful time.”
CANCOlofts’ amenities, which also include a 24/7 concierge service; CANCOsweat, a fitness center; CANCOstretch, a floor exercise area for yoga and light weights; CANCOpow, a boxing area; CANCOflicks, a screening room with stadium seating; and CANCOpooch, a dog-walking area, have a strong appeal for prospective buyers, said Jodi Stasse, CANCOlofts’ director of marketing and sales.
[CurbedWire Inbox]
Comments Off More Talk at Hudson Yards: The other lumbering New York City…
March 26th, 2010
Posted in Manhattan Homes Real Estate News
The other lumbering New York City megaproject built over train tracks, Hudson Yards, is delayed anew. Any by that we mean negotiations for the contract between the Related Companies (the developer) and the MTA (the landlord) for the 26-acre West Side rail yards have been extended for another month. It’s the fourth time in the past 18 months that the deadline has been extended. [NYO; previously]
Comments Off Frank Fucking Gehry: Frank Gehry’s New Hell’s Kitchen Theaters Revealed
March 16th, 2010
Posted in Manhattan Homes Real Estate News
That the 60-story mixed-use tower now under construction by the Related Companies at 440 West 42nd Street will have a pod hotel is not the most interesting thing about the building. Nope, that title goes to the development’s three theaters and adjoining lobby designed for the Signature Theatre Company by I-am-not-a-starchitect Frank Gehry. According to a Times story on the Signature’s new home, the interiors will be built out beginning in August, and the show will go on in January 2012. The plywood look seen above in Gehry’s models will carry through to the finished products. Gehry, the Times writes, “used plywood to create intimate, casual spaces with craftsmanlike elements.” Clever and thrifty, now that’s a starchitect! Oh crap, now he’s coming to murder us in our sleep. Here’s the breakdown of each new FOGgy creation, via a press release:
The Jewel Box (first in the photo gallery): The most intimate of the three theatres and has 199 seats. The intent of this space is to pull the patrons as close as possible to the stage, creating a compression that will allow for an intense and intimate theatre experience. This theatre has a single balcony and is reminiscent of a tiny opera house. This room has the most articulated architectural expression with shaped plywood panels framing the proscenium, wrapping around the balcony front and creating a ceiling under the lighting bridges above the house. These panels will be stained a deep chocolate brown that will disappear as the house is faded to black.
The End Stage: The largest of the 3 theatres in the Center with 299 seats. It is the most similar to the Peter Norton Space, the company’s current home. A straight rake of seating rises from the stage edge and is contained within plywood walls that give the space a subtle architectural expression. The shaped panels of the walls will be painted to fade to black as they approach the stage, creating a transition from the architectural space of the room to the scenic space of the play. A large doorway will connect this theatre to the lobby. The closing of this door will indicate that the play is about to begin.
The Courtyard: A 199-seat flexible theatre. The courtyard form, which has a long history in the development of theatre, will give this space distinction from the other two theatres. This theatre can be used in an endstage format, as a modified thrust stage, a runway center stage configuration, or in a flat floor format for experimental work. Each of these configurations has a second level gallery that seats patrons in a single line overlooking the stage. This small theatre will place patrons in a very intimate relationship with the actors.
Lobby : The Signature Center is entered from the sidewalk on 42nd Street under a glass canopy that will protect patrons from the elements and identify the Center with signage. This sculptural design element will give the Center a strong presence and sense of arrival. The street level lobby is compact and visually dominated by a plywood clad stairway that will lead to a gracious upper lobby and then to the three theatres. The extensive 2nd floor lobby will be used for informal gatherings and includes a bar and informal café seating. The lobby also includes a small bookstore area where books by current and past Playwrights-in-Residence will be sold, and audience enrichment materials relating to current Playwrights-in-Residence and their Signature residencies will be made available.
· New Signature Theater, Close to the Old [NYT]
· 440 West 42nd Street coverage [Curbed]
Attack of the Pods: New Hell’s Kitchen Yotel Annoys the Hex Out of Neighbors
March 5th, 2010
Posted in Manhattan Homes Real Estate News

We got a hint earlier this week that the hotel portion of the Related Companies’ mixed-use hotel/rental tower at 440 West 42nd Street would be a Yotel, the first U.S. installment of the European pod hotel chain. The 669-room hotel does, indeed, appear to be happening as rumored. A tipster sends in the above shot with a note: “Looks like the Yotel design you posted for 440 W 42nd is accurate—the nauseating, foamy-looking hexagons have started going up. I can already envision that Yotel neon sign blaring 24 hours and doing to me what Kenny Roger’s Roasters did to Kramer.” The 170-square-foot rooms behind the foamy hexagons are supposed to be $200-$250 per night. And may be some of the few places in the neighborhood where those hexagons aren’t visible, in which case, interesting marketing strategy! After the jump, a reminder of what the building has in mind.

· New Hell’s Kitchen Tower is Not a Hotel, It’s a Yotel [Curbed]
Attack of the Pods: New Hell’s Kitchen Tower is Not a Hotel, It’s a Yotel
March 1st, 2010
Posted in Manhattan Homes Real Estate News

The pieces keep getting added to the Related Companies’ 60-story mixed-use tower now under construction at 42nd Street and Tenth Avenue, even if the developer is still playing coy about the building’s final look. Already the future home of the Signature Theatre Company and its Frank Gehry-designed spaces, the hotel/rental tower is now filling in the blanks on the hotel part. The building will house a 669-room Yotel, the first U.S. property from the company that operates pod hotels near several European airports. Rooms will be a snug 170 square feet and cost between $200-$250 per night. The Rockwell Group and London’s Softroom will design the Yotel New York, and a 2011 opening is expected. HotelChatter is all in a tizzy over the planned restaurant, spa, lounge and the “largest outdoor terrace space for an NYC hotel,” and they also scored a rendering that features a heck of a lot of detail on the nearby Zebra Building, but still doesn’t show much of the tower itself. The other Yotels look pretty crazy, but will Hell’s Kitchen’s Yotel be more happening than its gaytel?
· Yotel To Open Legit, Full-Service Hotel in Times Square in 2011 [HotelChatter]
· 440 West 42nd Street coverage [Curbed]
CurbedWire: Midtown Office Building’s Facelift; 60 Stories of Fun in Hell
February 10th, 2010
Posted in Manhattan Homes Real Estate News

MIDTOWN—West 34th Street is always in need of cosmetic upgrades, and commercial megalandlord SL Green just announced it finished one at 333 West 34th Street, an office building the company purchased in 2007. The landlord enlarged and renovated the lobby and created a new 21,000-square-foot retail space, all through “recapturing cafeteria and other underutilized space.” There’s now an 18-foot-high glass wall wrapping the front of the building, the perfect sheltered and safe hangout to meet the guy you found on Craigslist to buy your Rangers tickets. [CurbedWire Inbox]
HELL’S KITCHEN—More proof from a tipster that Related’s massive tower rising at 440 West 42nd Street will look like those leaked renderings: “I spoke to one of the construction guys and he told me the building would have two heights; the west side of the block would be 25 stories and the east side would be a whopping 60 stories tall. Holy moly, that’s as big as the Silver Towers.” True, but this one’s all laid back about getting stoned and stuff. Awww yeah. [CurbedWire Inbox]
Developers Want Freedom: The Port Authority’s attempt to sell…
February 9th, 2010
Posted in Manhattan Homes Real Estate News
The Port Authority’s attempt to sell a stake in the Freedom Tower 1 World Trade Center wasn’t laughed off, the Observer reports. Six big-time developers—Related, Vornado Realty Trust, Boston Properties, the Durst Organization, Brookfield Properties and Hines—have responded to the PA’s hunt for a partner in the office skyscraper, though they all probably just want access to that on-site Subway shop. Five-dollar footlongs are a powerful drug! [NYO; previously]
CurbedWire: Hell From Up High; Harlem Grocery Renaissance
February 9th, 2010
Posted in Manhattan Homes Real Estate News

HELL’S KITCHEN—Did we speak too soon when we said Related’s massive condo/rental tower at 440 West 42nd Street might end up matching the disavowed renderings of the project. A tipster writes: “I keeping a close eye on your coverage since that building’s going to block my kick ass view. Attached is an aerial view of the construction. You can see it’s not quite matching up to Related’s ‘leaked’ plans.” Still looks like the early stuff to us, with that setback above the stone-covered base. Are we seeing things? [CurbedWire Inbox]
HARLEM—Thanks to a wave of new development Frederick Douglass Boulevard has been called Harlem’s Gold Coast, and every Gold Coast needs some fabulous, er, groceries. Enter the Best Yet Market, which one very enthusiastic tipster fills us in on: “You may want to check out the new Best Yet Market that opened Thursday afternoon on Fredrick Douglass and 118. Its a great grocery store and will mean all the folks in the new condos on Fred Douglass have a place to shop. Its large with 3 levels. Mezz level has coffee and desert bar with comfortable chairs and couches. It was already busy and folks are talking about it.”
“On a 10 point scale, if Le Bon Marche in Paris is an 11, Whole Food Columbus Circle an 8.5, then this is a solid 7. Better than any Gristedes, C-Town in the city. Its better than the narrow and crowed Fairways which has good stuff but the crowds are a pain. It has a much bigger selection than Trader Joes – but more expensive. Price is the only draw back — things were less expensive than Whole Paycheck but more expensive than Fairway or Trader Joes.” [CurbedWire Inbox]
Construction Watch: Related’s Hell’s Kitchen Mystery Tower Gets Stoned
February 4th, 2010
Posted in Manhattan Homes Real Estate News
The Related Companies told us that leaked renderings of its 59-story tower at 440 West 42nd Street in Hell’s Kitchen weren’t accurate, but we’re starting to doubt those claims. Cladding is now going up on the Arquitectonica- and SLCE-designed full-block tower (which will have condos and rentals) that matches those renderings. Slabs of sandstoney panels have been attached to the base along 41st and 42nd Streets, echoing the buff-toned brick seen across the street at the infamous Zebra Tower. Above the four-story base, where Frank Gehry is designing spaces for the Signature Theater Company, another seven stories have gone up. There’s no glass up yet, so whether the neighborhood will get another tin-can special or something more interesting remains to be seen.
· Thread: 440 West 42nd Street at 10th Avenue [Wired New York]
· 440 West 42nd Street coverage [Curbed]
Revenge of the Megaprojects: Facing a Jan. 31 deadline (already…
January 19th, 2010
Posted in Manhattan Homes Real Estate News
Facing a Jan. 31 deadline (already postponed from last year) to put down a deposit or risk losing its grip on the planned Hudson Yards development, the Related Companies are close to striking a deal with the MTA, the Observer reports. But don’t hop on the 7-train quite yet, eager beavers: Word is Related will only have to close on the deal and commit to the 99-year-lease “once the local economy improves and hits a set of ‘triggers’—quantifiable measures like improved unemployment and commercial vacancy rates.” Also, the 7-train doesn’t go there yet. [NYO]
City Sinking $25M in Hell: Now that the city and Related…
December 22nd, 2009
Posted in Manhattan Homes Real Estate News
Now that the city and Related are best of friends (if you forget about that Kingsbridge Armory business), The Real Deal passes along word that our fearless leaders are chipping in $25 million for Related’s long-awaited 440 West 42nd Street project. The former Hell’s Kitchen Swimming Hole, to refresh your memory, will be a 59-story complex of affordable and market-rate housing as well as a Frank Gehry-designed theater. The residential stuff is supposed to be done in 2011, and the theater in 2012. [Real Deal]
CurbedWire: Megaprojects Mania: 7 Train Hits Milestone, Rezonings Galore!
December 22nd, 2009
Posted in Manhattan Homes Real Estate News
[Photos via nyc.gov]
FAR WEST SIDE—Delays may be piling up at the Second Avenue Subway, but the 7 train extension project just completed its first phase! The big scary tunnel boring machine has reached the southern wall of the 34th Street cavern (photos of the break-through above!), the city and MTA announced. Part of the plan to populate the Hudson Yards megaproject when it eventually gets built, the 7 train extension will put a new station at 34th Street and Eleventh Avenue. Finally, quick passage from Times Square to the Javits Center! Not that we, uh, frequent those places. [CurbedWire Inbox]
FAR WEST SIDE—Speaking of Hudson Yards, the City Council approved the rezoning of the western half of the 26-acre property, now that a deal is in place between the city and Hudson Yards developer Related to preserve and create affordable housing in the area. The affordable housing plan consists of nearly 1,300 units in a mix of on-site and off-site locations, including 431 new rentals in Hudson Yards “as initially permanently affordable to New Yorkers earning up to 60 percent Area Median Income (AMI), or what is equal to an annual income of $46,100 for a family of four.” The city is tossing in $40 million to create affordable housing units at properties, one at West 48th Street and Tenth Avenue and the other at West 54th Street and Ninth Avenue. Between this news and 7 train news, we’re revising our Hudson Yards completion estimate to…June 23rd, 2130. [CurbedWire Inbox]
WILLIAMSBURG/BED-STUY—The City Council wasn’t just focused on Manhattan when it came to today’s rezoning love. The ultra-controversial Broadway Triangle rezoning was also approved, setting the stage for thousands of new apartments (many of which will be affordable housing) and more civil war over who gets to live in them. [CurbedWire Inbox]
CurbedWire: Bronx’s Pedestrian ‘Maul,’ McStarck’s New Glass
October 30th, 2009
Posted in Manhattan Homes Real Estate News

SO BRO—We had our fun with one ugly suburban-style big box mall today, but our friends at Streetsblog dropped us a line to chide us for missing their take on another piece of GreenbergFarrow magic, the Gateway Center at Bronx Terminal Market. Streetsblog refers to the place as a “pedestrian maul” and takes some shots at developer Related for making the place so pedestrian-unfriendly despite most customers taking public transportation to get there. But aren’t those thousands of wasted parking spaces required by zoning? Mallrats, let us know. [Streetsblog]
GRAMERCYISH—Our fascination with all things McStarck leads us to reprint this tip regarding East 23rd Street’s Gramercy by Starck: “340 East 23rd Street (Gramercy by Starck) is already undergoing window replacement this month, less than a year after opening. They currently have a large construction shed set up in front of the building.” Well, as long as the delivery truck aren’t a problem… [CurbedWire Inbox]
Superior Ink Townhouses Getting Railed and Ready
October 27th, 2009
Posted in Manhattan Homes Real Estate News
The West Village has a trove of townhouses of all types. They range from the humbly historic to the hiply histrionic, the monstrous to the magical, the cramped to the commodious, not to mention the troubled to the tasteful. The newest cache of single-family condos hugging the Hudson is the row of townhouses nearing completion on Bethune Street, a component of the Related Companies’ Superior Ink development from starchitect Robert A. M. Stern. The exteriors, with dentil molding for days, are getting some tasteful iron rails along the windows, plus a load of other finishing touches both inside and out. It looks like two of the townhouses have been taken (one reportedly by Marc Jacobs), but two others are on the market and up for grabs, asking $13.25 million and $17.25 million.
· Superior Ink coverage [Curbed]
· Superior Ink Condominiums and Townhouses [somethingsuperior.com]
Buyers Make Noise, Developers Start to Give In
October 26th, 2009
Posted in Manhattan Homes Real Estate News
Feisty buyers at the Brompton, 170 East End Avenue, and the Rushmore have been suing developers to get out of their contracts as they’ve realized — holy recession! — that their brand spankin’ new apartments aren’t worth what they pledged to pay for them. Now the developers are trying to lure the buyers back with deals struck outside of court. At 170 East End Avenue, the Times hints, there was a “meeting of the minds” when hedge funder Arvind Sanger closed on his penthouse for only $11.98 million, after agreeing to pay $12.5 million back in the heady days of 2007. At the Brompton, buyers’ lawyer Adam Leitman Bailey said some buyers have received concessions in exchange for keeping their contracts, though Related, the developer, denied it. Rushmore buyers are reportedly being offered discounts of up to 25 percent to hang onto their contracts. Ah, the sweet smell of developer desperation!
· Big Deal – A Weapon Called Fine Print [NYT]
· Rushmore buyers offered deals to stem mass defections [Real Deal]
