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[28 Jan 2015 | No Comment | ]

Construction has begun on a mixed-use artists’ work space designed by Gene Kaufman Architect at 100 Bogart Street in East Williamsburg/Bushwick. With its industrial look and feel, the building fits easily into the neighborhood while offering the 21st-century materials, technology and amenities artists need. The project, developed by Vlat LLC, responds to the ongoing demand from the borough’s creative class for additional studio, gallery and work space.
Set back from the lot perimeter to maximize interior light, the six-story, 56,000-square-foot development will include 8,000 square feet of ground-floor retail and a six-story-plus cellar.
The layout calls for 50 to 60 studios, …

Construction & Design, Headline »

[28 Jan 2015 | No Comment | ]
What’s driving builders’ race to the skies?

In Manhattan’s concrete canyons, daylight is becoming a rare commodity.

2014 saw the opening of the Western Hemisphere’s tallest office tower and the topping-out of its tallest residential tower. Soon, half a dozen residential skyscrapers around 57th Street will stand shoulder-to-shoulder with the Empire State building, until fairly recently, by far the city’s tallest building.

What’s driving this upward race is the result of a complex mix of factors that have more to do with cyclical forces than linear progress …

Brokers Weekly, Construction & Design, Featured »

[27 Jan 2015 | No Comment | ]
Silverstein tops out downtown’s tallest apartment building

Larry Silverstein, chairman of Silverstein Properties, celebrated the topping out of 30 Park Place, Four Seasons Private Residences New York Downtown at 926 ft. and 82 stories.

The tower is now the tallest residential building on New York’s Downtown skyline, offering 157 luxury apartments starting on the 40th floor overlooking the Hudson and East Rivers, New York Harbor, Empire State Building and all of Midtown.

The residences are perched above the 189-room Four Seasons Hotel New York Downtown slated to open in 2016

Construction & Design, Featured »

[27 Jan 2015 | No Comment | ]
Crowdfunders issue 3 WTC offer

Crowdfunding platform Fundrise is offering up to $5 million worth of bonds for Silverstein Properties’ planned office tower 3 World Trade Center to its investors.

The offering doesn’t involve any new debt issuance for the tower, which is already fully funded through State-backed Liberty Bonds. Rather, Fundrise has bought some of the bonds and is now offering them to its investors on the secondary market.

Construction & Design »

[22 Jan 2015 | No Comment | ]
Pierson Advisory Group officially launches

 The Pierson Advisory Group (www.piersonadvisorygroup.com), founded by former Parsons Brinckerhoff President and CEO George J. Pierson, has launched effective today. The focus of the firm is to advise and assist senior executives in removing obstacles to success.
Pierson spent a career leading and advising organizations through difficult challenges. With a background in engineering, operations, law, business, and leadership, Pierson not only sees and focuses on the “big picture” but has the knowledge and experience needed to dive deep into the details of issues, which is often where their solutions lie.
As President …

Construction & Design »

[22 Jan 2015 | No Comment | ]

New York City construction costs increased by nearly five percent in 2013 and escalated an additional 5 percent in 2014, according to a New York Building Congress analysis of multiple cost indices as well as interviews with representatives of some of the City’s largest construction firms.
By comparison, U.S. construction costs increased by approximately 2.5 percent in 2013 and topped three percent in 2014.
While the recent plunge in oil prices could lower the cost of petroleum-based products and delivery costs, the construction company representatives expressed concern that costs could rise further …

Construction & Design, Featured »

[21 Jan 2015 | No Comment | ]
Construction starts on 55 Hudson Yards

Today Related Companies, Oxford Properties Group and Mitsui Fudosan America, Inc. announced the start of construction on Fifty Five Hudson Yards.

The 1.3-million square-foot office building is the newest addition to the collection of towers to be located at Hudson Yards, the largest private real estate development in the history of the United States and the largest development in New York City since Rockefeller Center.

Construction will be completed in 2017 and tenant move-in should begin early 2018.

Construction & Design, Deals & Dealmakers »

[21 Jan 2015 | No Comment | ]

Kalmon Dolgin Affiliates, Inc. (KDA) has arranged a 12,400 s/f, long-term lease for the School Construction Authority (SCA), a builder and modernizer of public schools throughout New York, at 132-10 Jamaica Avenue in the Richmond Hill section of Queens, NY.
KDA was named the exclusive leasing agent for the property earlier this spring.
Dmitri Gourianov and Neil Firtle of KDA represented the landlord, 132-10 Jamaica Ave Realty Corp., while a team from DTZ represented the tenant.
The School Construction Authority will lease the entire one-story warehouse and convert the space into a Pre-K …

Brokers Weekly, Construction & Design »

[15 Jan 2015 | No Comment | ]
Cantilevering condo building coming to Chelsea

Chelsea is about to welcome one more architectural oddity, as B+B Capital announced plans for a cantilevering condo tower at 251 West 14th Street.
The top three floors of the 11-story tower will lean over a neighboring townhouse, enabling the developers to squeeze more square-footage out of the narrow site. Designed by ODA Architects, the boutique building will feature 11 full-floor residences boasting 10-foot ceiling heights and private elevator access.
“This boutique property is located in what is considered to be one of the most vibrant and trendy areas currently in Manhattan, and …

Construction & Design, Featured »

[14 Jan 2015 | No Comment | ]
Brookfield starts work on Manhattan West apartment tower

Brookfield Property Partners announced that construction has begun on a 62-story residential tower at Manhattan West that will contain 844 units with 20 percent of the studio, one- and two-bedroom units priced at affordable rates.

Brookfield has closed on$479 million in HFA credit enhanced bonds through the Bank of China with a seven-year term to fund the construction.

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