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[10 Jul 2013 | No Comment | ]
Gowanus gettin’ its groove with snazzy new apartments

If you have not visited in a while, 4th Avenue, the thoroughfare that serves as the border between Park Slope and Gowanus, may be a bit unrecognizable.

Gone is the industrial, tree-barren and somewhat desolate character that once defined this upper stretch, from Flatbush Avenue to the Prospect Expressway.

Gone are most of the sparse walk-up tenements and swath of car repair shops.

Construction & Design, Featured »

[26 Jun 2013 | One Comment | ]
Bonjour starts luxury condo

By Orlando Lee Rodriguez
Real Estate investment and development firm Bonjour Capital has broken ground on what will become the newest luxury development along Brooklyn Heights’ landmarked main strip.
The development site, located at 172-174 Montague Street, between Court and Clinton Streets, was purchased last year by Bonjour in a $12 million all cash deal from a Florida retiree who had owned the property since 2002.

Deals & Dealmakers, Headline »

[26 Jun 2013 | No Comment | ]
Midtown site back on block

By Orlando Lee Rodriguez
The Metropolitan Transit Authority plans to lease the land underneath its three Midtown East properties.
The Authority has enlisted Cushman & Wakefield to broker the long term net lease of 341, 345 and 347 Madison Avenue.
The 99-year lease will be for all three properties occupying a full block front. The buildings that now stand on the property will be demolished for redevelopment. Any new structure would have to include a new entrance for the new Long Island Railroad Concourse that would be operated and maintained by the MTA.

Brokers Weekly, Featured »

[26 Jun 2013 | One Comment | ]
New York, New Jersey emerge as foreclosure leaders

By Orlando Lee Rodriguez

After years of being insulated from the distressed property crisis facing the single-family asset class, the New York City region now has one of the country’s highest foreclosure rates.

Construction & Design, Featured »

[19 Jun 2013 | No Comment | ]
Folk tales re-writing rules of office location

By Orlando Lee Rodriguez
New York’s commercial and residential real estate landscape is being driven by the battle between retiring Baby Boomers and Generation X and Y as they clash over the direction of the workspace, and issues ranging from what a desirable neighborhood is and how often one physically comes into the office.
Speaking at the CoreNet Global NYC “New Trends in Real Estate Development” event in Midtown last week, a panel of experts weighed in from different vantage points on how the retirement of Baby Boomers makes this changing workforce spectrum, and how it effects the real estate market much differently than in years past.

Brokers Weekly, Featured »

[19 Jun 2013 | No Comment | ]
New subway route puts Bushwick on track as market’s next big thing

New subway route puts Bushwick on track as market’s next big thing

By Orlando Lee Rodriguez

Gentrification that has spilled over from industrial East Williamsburg to residential northeast Bushwick is spreading inexorably southward — thanks to a little help from the Metropolitan Transportation Authority.

The MTA’s decision to re-route the M train through the heart of midtown Manhattan in 2010 erased the invisible barrier that Myrtle Avenue — the area hit hardest by arson fires in the late 1970s — posed for years, according to real estate.

And now the well-kept townhomes along Weirfield Street that are typical of this section of Bushwick will lead the gentrification as the young people that populate East Williamsburg and northeast Brooklyn settle down and raise families.

Featured, Retail »

[19 Jun 2013 | One Comment | ]
No end of line for Subway

By Orlando Lee Rodriguez
The Subway sandwich chain is nearing the end of a $178 million venture with the Carlyle Group to upgrade stores lining major tri-state traffic corridors.
The chain is in the process of finishing renovations for rest stops along I95, I395, the Merritt Parkway and Wilbur Cross Parkway in Connecticut. All locations will feature Subway and Dunkin Donuts restaurants.
The venture is part of a carefully crafted yet free-flowing growth strategy that places Subway restaurants in New York City within eyesight of each another, without competing for business.

Brokers Weekly, Featured »

[19 Jun 2013 | No Comment | ]
NoMad condo earns star among World’s Most Famous neighbors

Sandwiched between the Village and Midtown, Madison Square would naturally seem like an investment no-brainer, but landmarking of the area has made new development difficult to achieve.

Enter 241 Fifth Avenue, one of the only new developments to go up within the Madison Square North Historic District.

Deals & Dealmakers, Featured »

[19 Jun 2013 | No Comment | ]
Old school broker Chase Welles has plenty of food for thought

For Chase Welles, growing up in New Haven, Connecticut, attending the prestigious Yale University should have been a pretty clear-cut choice.

The alumnus of six U.S. presidents and the home of the exclusive Skull and Bones fraternity was, after all, located right in his backyard.

But Chase chose to pack his bags for New York City, heading to Columbia University on West 116th Street, a neighborhood where he would eventually make a major impact.

Brokers Weekly, Deals & Dealmakers, Featured »

[12 Jun 2013 | No Comment | ]
Residents follow business on migration to Manhattan south

The movement of New Yorkers choosing to live below 23rd Street continues to trend upward, even as vacancy rates edge lower and rents particularly for larger units, move toward record-high levels.
With newer tech companies and start-ups concentrated from Chelsea/Flatiron area south through Union Square to SoHo, rents are following the trend of demand steaming from workers looking to walk to their jobs.
“I think Silicon Alley is a significant force,” said Jonathan Miller, president of Miller Samuel Inc.
SoHo and Tribeca lead in median rents at $5,245 a month. Wall Street and Battery Park City come in second at $3,600 per month.

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