Happy Halloween! New York leads country in zombie foreclosures
[12:27 pm, October 31, 2014 | No Comment | ]

Just in time for Halloween, Greater New York recorded the most Zombie foreclosures of any metro area nationwide.
According to data firm RealtyTrac, 13,366 homes in metro New York were vacated at the time of foreclosure, becoming so-called Zombie properties. This represents 12 percent of all properties in foreclosure. New York was followed by Miami (9,869), Tampa (7,509), Chicago (7,326), Philadelphia (5,405) and Orlando (3,732).
RealtyTrac’s Q3 2014 Zombie Foreclosure Report found there were 117,298 owner-vacated foreclosures nationwide in third quarter of 2014 (18 percent of total properties in foreclosure), down 17 …

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Deals & Dealmakers »

[2:13 pm, October 31, 2014 | No Comment | ]

SL Green Realty Corp. announced that Matthew J. DiLiberto has been named the Company’s Chief Financial Officer (CFO), effective Jan. 1, 2015, when the employment agreement of the current CFO, James Mead, expires. Mr. Mead will be leaving to pursue other professional interests.
Mr. DiLiberto, age 40, has been with SL Green since 2004. Prior to this promotion, he has been the Company’s Chief Accounting Officer and Treasurer, overseeing its finance, accounting and corporate capital markets functions. Before joining the Company, he served for four years as a Controller and Director …

Retail »

[1:27 pm, October 30, 2014 | No Comment | ]
TF Cornerstone taps Winick to market Union Square retail site

Winick Realty Group announced that TF Cornerstone has selected Steven E. Baker, president, and Aaron S. Fishbein to exclusively market the prime Union Square retail availability at 7 East 14th Street.
Located between University Place and Fifth Avenue, the 2,400-square-foot space is ideally situated for retailers looking to capitalize on the 24/7 foot traffic coming from not only Union Square but also the nearby Flatiron District.
“We are pleased to once again represent a well-positioned retail property from the TF Cornerstone portfolio,” said Baker. “The excitement and activity in this area of …

Construction & Design »

[9:00 am, October 30, 2014 | No Comment | ]
NYBC warns of funding gap in MTA plan

The MTA Board of Directors recently approved a $32 billion Capital Plan for 2015-2019 that the New York Building Congress says faces several hurdles before going forward.
The spending plan is allocated to three priority areas:
• $23.5 billion for core “system renewal.” This includes approximately $17 billion for the subway system and $6 billion for Long Island Rail Road and Metro-North Railroad;
• $3.1 billion to maintain and improve the MTA’s nine bridge and tunnel facilities; and
• $5.5 billion to continue major expansion projects, commencing Phase II of the Second Avenue Subway, …

Construction & Design »

[9:00 am, October 30, 2014 | No Comment | ]

New York-based LEED-accredited architecture firm Design AIDD Architecture, DPC, has been awarded the contract to design a six-story multi-family market rate rental project at 284 Wadsworth Avenue in Washington Heights, which will be known as HAP 4.1.
Developed by HAP Investments, the 10,000 s/f residence will have 10 one- and two-bedroom apartments, with such features as mini-split heating-and-cooling systems and in-unit washer/dryers.
The architects will use an ICF system for building construction. The efficient material is being used to not only save construction time, it is considered one of the world’s top …

Construction & Design »

[9:00 am, October 30, 2014 | No Comment | ]
New York Festival of Lights will showcase leading global artists

The New York Festival of Light (NYFOL)) comes to DUMBO, Brooklyn, for three consecutive nights November 6 through 8.
A curated collection of lighting installations from renowned artists designing in the medium of light from all over the world and from Brooklyn will be showcased during the festival.
New York City now joins the ranks of major cities such as Berlin, London, Lyon, Montreal and Sydney that have festivals of light. The festival is free and open to the public and all ages are welcome.
In partnership with the DUMBO Business Improvement District, …

Construction & Design »

[9:00 am, October 30, 2014 | No Comment | ]

Driven by an unprecedented surge in high-end residential construction, as well as by continued strength in the commercial and government sectors, New York City construction activity is brushing up against the heights experienced during the boom years of 2007 and 2008.
In its annual New York City Construction Outlook, the New York Building Congress – with support from the New York Building Foundation – forecasts $32.9 billion New York City construction spending in 2014, a 17 percent increase from 2013, when spending reached $28.2 billion.
Construction spending is expected to increase further …

Construction & Design »

[9:00 am, October 30, 2014 | No Comment | ]
Parking system gets test drive in Brooklyn

A new environmentally friendly automatic parking system is being given a test drive in downtown Brooklyn.
Parkmatic, specialists in mechanical and automated parking systems for more than 20 years, is introducing its Carousel Parking System to the US at Verti-Park, 169 Tillary Street, at the corner of Gold Street in Downtown Brooklyn.
The environmentally-efficient system utilizes a Ferris wheel-style car stacker capable of holding 30 vehicles in the space of six, with retrieval time spanning 15 seconds for the lowest vehicle, and up to two minutes for the highest. The carousel parker …

Deals & Dealmakers »

[5:37 am, October 30, 2014 | No Comment | ]
Classic Villard mansion clicks with new e-tailer

High-end menswear e-tailer Trunk Club will open its first store at The Villard Mansion on Madison Avenue on November 1.
CBRE Group, Inc. announced that it represented the New York Palace Hotel, operated by Northwood Hospitality, in the 26,190 s/f retail lease for the New York flagship store of Trunk Club, an online store bought by Nordstrom earlier this year.
CBRE Retail’s Michael Kadosh, first vice president, and Robert Bonicoro, represented Northwood Hospitality in the transaction, which will see Trunk Club move into the Villard Mansion’s entire ground-through-6th floor space. Matthew Seigel, …

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