Skyway could ease commuter crunch
[7:00 am, September 17, 2014 | No Comment | ]

A proposed East River Skyway could ease commuter congestion between Manhattan and the booming Brooklyn market.

The first phase of the Skyway would connect the waterfront area in Williamsburg to Downtown Manhattan, South Williamsburg and the Brooklyn Navy Yard.

“Given the exciting growth in Brooklyn and Queens, it is essential to adapt New York City’s transportation system to serve residents in these booming areas,” said Daniel Levy, president of East River Skyway and CityRealty.

Levy unveiled his proposal yesterday (Tuesday) at the Massey Knakal Brooklyn Real Estate Summit.

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Brokers Weekly »

[9:00 am, September 19, 2014 | No Comment | ]

Paradoxically, August’s rental market reports are really about luxury condos.

Rents continued their climb last month, with the Manhattan median rent rising 0.8 percent and the rent per s/f rising 4.5 percent year-over-year, according to Miller Samuel’s report for Douglas Elliman.

This was the sixth consecutive month of seasonally adjusted rent growth and, by itself, nothing to raise eyebrows.
August’s more surprising trend was hard to discern in the data. Last winter, the strong condo market pulled demand away from luxury rentals, dragging down average rents. But now this trend has reversed, according to Douglas Elliman’s senior vice president Yuval Greenblatt.

Brokers Weekly, Photo Gallery »

[4:05 pm, September 17, 2014 | No Comment | ]

Zeckendorf Development hosted an  event for the Asian American Real Estate Association at 50 United Nations Plaza. The 88 luxury condominium residences are located at East 46th and 1st Avenue adjacent to Dag Hammarskjold Plaza and one block north of the United Nations Secretariat building. 50 UN Plaza is the first residential tower in the United States designed by Foster + Partners. The event was held at the sales office at 866 United Nations Plaza designed by the firm of Gabellini Sheppard.

Construction & Design »

[1:59 pm, September 17, 2014 | No Comment | ]

Donnelly Mechanical Corporation has enhanced its market partnership with Con Edison’s Green Team and the New York State Energy Research and Development Authority (NYSERDA) to offer increased energy incentives to ConEd’s commercial and industrial customers through the Demand Management Program.
Customers who install energy-efficient technologies that improve the operational performance of buildings and reduce consumption during peak summer hours can take advantage of the Demand Management Program’s increased incentives.
The Demand Management Program is an extension of Con Edison’s Commercial & Industrial Energy Efficiency Rebate Program, a new strategy that offers incentives …

Construction & Design »

[1:55 pm, September 17, 2014 | No Comment | ]

IVI International, Inc., a construction risk management and due diligence consultancy, announced that it has signed a lease for additional office space, expanding its presence on White Plains, New York’s West Red Oak Lane.
The announcement was made by Carl de Stefanis, P.E., CEO of IVI. “We’re excited to be growing our footprint on West Red Oak Lane with this additional space. IVI’s growth ultimately demonstrates our commitment to serving our clients’ needs,” said de Stefanis.
IVI took roughly 5,000 s/f att 4 West Red Oak Lane. The firm now …

Construction & Design »

[1:53 pm, September 17, 2014 | No Comment | ]

By David V. Griffin
Since founding his eponymous firm in 1978, award-winning architect Howard L. Zimmerman has worked on the interior and exterior restoration of numerous residential, commercial and institutional buildings — and has the trophies to prove it, in the form of a unique collection of architectural elements and replica castings that decorate his NoMad office.
“I remember when I was just starting out seeing one of the eagles from the original Pennsylvania Station in a law office,” Zimmerman said. “I thought that was amazing.
“As I started working with replicating …

Retail »

[1:49 pm, September 17, 2014 | No Comment | ]

Shake Shack has signed a lease for 3,265 s/f at 1333 Broadway, announced Empire State Realty Trust, Inc.
The lease closely follows the opening of the world’s largest Urban Outfitters store at the same building.
“Herald Square is marching up the Broadway Corridor attracting top retailers, which is part of the remarkable transformation of the neighborhood in which we were first movers in upgrading our own properties,” said Thomas P. Durels, Executive Vice President, and Director of Leasing and Operations for ESRT.
Shake Shack, part of Danny Meyer’s Union Square Hospitality …

Construction & Design »

[1:39 pm, September 17, 2014 | No Comment | ]

New York City’s private and public building owners initiated $5.7 billion worth of alteration and renovation (A&R) projects in 2013, a 5 percent increase from 2012, when A&R starts totaled $5.4 billion, and a 25 percent increase from 2011 ($4.6 billion).
The upward trend has continued through the first six months of 2014, with A&R construction starts valued at $3.6 billion, according to a New York Building Congress analysis of McGraw Hill Construction Dodge construction data.
The data used in this report encompass all alteration and renovations to existing structures started …

Deals & Dealmakers »

[1:23 pm, September 17, 2014 | No Comment | ]

The CBRE Long Island team of Vincent LaManna and Richard Freel represented REGUS, the world’s largest provider of flexible workspace in a 16,500 s/f office lease on a portion of the fifth floor at 70 East Sunrise Highway in Valley Stream, NY.
The space represents REGUS’ eighth office suites location in Long Island and demonstrates the company’s initiative to further expand its presence in the region.
LaManna and Freel worked with REGUS to identify demographically appropriate locations for Regus’ expansion, and chose 70 East Sunrise to negotiate the long-term lease with the …

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