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[29 Aug 2014 | No Comment | ]
Foreign investment in U.S. real estate widely  underreported

By Jason D. Meister, Avison Young
In 2013, foreign direct investment (FDI) in U.S. commercial real estate achieved record numbers and big headlines. Chinese companies alone were reported to have invested $14 billion in the U.S. last year, more than double their total in 2012.
However, despite the focus on foreign investment and the splashy headlines, the media have only managed to report on the tip of the iceberg – the actual amount of foreign capital pouring into U. S. real estate is vastly underreported. Data companies such as Real Capital Analytics …

Deals & Dealmakers, Featured »

[27 Aug 2014 | No Comment | ]
Office space company takes full floor at 1WTC

The Durst Organization has signed Servcorp, a global provider of equipped executive offices and virtual office space, to a 15-year, 34,775-s/f, full lease on the 85th floor of One World Trade Center.
With the closing of this transaction, the 3.0-million-s/f office tower is now 57.5-percent leased. Servcorp’s One World Trade Center location is scheduled to open in the first quarter of 2015.
One World Trade Center will mark its official opening toward the end of this year when Condé Nast begins to move personnel into the building.
“As the world leader in premium …

REBNY Watch »

[22 Aug 2014 | No Comment | ]

By Steven Spinola
Mayor Bill de Blasio’s bold and aggressive new housing plan, “Housing New York: A Five-Borough, Ten-Year Plan,” calls for the creation and preservation of 200,000 units of housing, including 80,000 new affordable housing units.
As we work together with government to tackle the housing crisis, there are both reasons to be optimistic as well as steep challenges ahead.
The first challenge is to address the needs of our growing population.
As the Columbia University’s Center for Urban Real Estate’s Vishaan Chakrabarti and Jesse Keenan projected in their report last fall, “NYC …

Deals & Dealmakers, Featured »

[22 Aug 2014 | No Comment | ]
Klosed bets on Soho growth

Steven Kachanian’s Klosed Properties has bought a 2,200 s/f retail condo at 202 Spring Street for $7 million. The deal is another sign that Soho’s retail market is continuing its rapid expansion – geographically as well as financially.
The retail condo at the corner of Spring and Sullivan Streets is well beyond Soho’s retail heartland. But Kachanian hopes that a flurry of new developments nearby and skyrocketing rents around Broadway will drive more retail into western Soho.
“We are confident that foot traffic is going to increase and rents will spike up,” …

Brokers Weekly »

[22 Aug 2014 | No Comment | ]
Voda Bauer brokers get to WeWork

Voda Bauer Real Estate has been named WeWork’s official residential real estate partner, providing residential real estate services to all of its members across all WeWork locations.
Through the partnership, Voda Bauer will offer free consultations to the WeWork community members through weekly open office hours.
Additionally, WeWork will provide access to its locations for the Voda Bauer lecture series, which will be on value added topics for its members.
Voda Bauer has headquarters at WeWork’s Fulton Center on 222 Broadway. Founded in 2010, WeWork transforms buildings into collaborative workspaces and provides infrastructure, …

Brokers Weekly, Opinion »

[22 Aug 2014 | No Comment | ]
High rent vacancy not a  ‘get out of jail free’ card

By Adam Bailey & Dov Treiman
Adam Leitman Bailey, P.C.
Throughout the residential housing industry, there is dangerous ignorance of the amendments promulgated this year, amending the Rent Stabilization Code.
All owners should be reading as much as possible about these amendments. Business is simply not the same as it was.
One of the massive changes is in the notice that an owner must give to a new tenant immediately after deregulating the premises for rent that has gone above the $2,500 threshold. Prior to 2014, the landlord had to furnish the new tenant …

Brokers Weekly »

[22 Aug 2014 | No Comment | ]

● Samson Management
Sales set to launch at UWS conversion
Samson Management and Halstead Property Development Marketing (HPDM) announced the pre-sales launch of 498 West End Avenue, a luxury condominium conversion.
Continuing her long standing relationship with Samson Management, Louise Phillips Forbes will be the exclusive broker for the development.
In the heart of Manhattan’s Upper West Side between 83rd and 84th Streets, 498 West End Avenue will feature three- to five-bedroom residences designed by architecture and interior design firm CetraRuddy.
Earlier this summer, The Landmarks Preservation Commission approved a re-configured entrance, new cornices and …

Construction & Design »

[22 Aug 2014 | No Comment | ]

“A dozen brokers have told me that this is the most forward-thinking office interior on Long Island,” said Frederic Strauss, Principal at TPG Architecture.
He is referring to a recently completed project in Melville: 44,000 s/f of workspace for the trade association the American Institute of Physics.
As scientists and administrative professionals, AIP at first glance does not seem like a risk-taking, pioneering group.
It is a trade organization whose membership is made up of physicists from all over the world, and in that central role AIP is also the publisher of 24 …

Construction & Design »

[22 Aug 2014 | No Comment | ]

The Beverly Willis Architecture Foundation is looking for amazing women.
The organization received grants from the New York Building Foundation and the New York Council for the Humanities to identify 100 outstanding structures and built environments, either contemporary or historic, designed and/or constructed by women in New York City.
Nominees must have been directly responsible for leading the design (architecture, engineering, or landscape) or construction, of a structure or built environment.
Projects must be completed or have broken ground and located in New York City.
The jurors for BxW NYC include Deborah Berke, FAIA, …

Construction & Design »

[22 Aug 2014 | No Comment | ]

The New York Landmarks Conservancy has announced 22 Sacred Sites Grants totaling over $300,000 awarded to historic religious properties throughout New York State, including three Robert W. Wilson Sacred Sites Challenge Grants in Manhattan.
$25,000 was awarded to Riverside Church for stained glass window restoration; $30,000 to Church of the Incarnation for spire masonry restoration, and $30,000 to Judson Memorial Church for masonry façade, wood window and door restoration.
“Religious institutions anchor their communities,” said Peg Breen, president of The New York Landmarks Conservancy. “They remind us of our history and provide …

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