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Brokers Weekly, Featured »

[21 Nov 2014 | One Comment | ]
Virtual reality ready to revolutionize residential sales market

By Konrad Putzier
Beyond the balcony of this Miami Beach penthouse, behind beaches lined with palm trees, the Atlantic Ocean glistens in the dark.
Inside, a fire is crackling. A quick stroll through the apartment reveals a spacious kitchen, a bowl of fruit placed on the counter, and a bedroom with a magnificent four-poster bed.
The images are clear enough to make you think they are real — but they aren’t quite.
The apartment is a virtual replica on a TV screen that is navigated like a video game with the help of a …

Brokers Weekly, Featured »

[21 Nov 2014 | No Comment | ]
Blogged down with young clients is just the way Wu likes it

By Dan Orlando
Allen Wu, a native of Shanghai, is a young gun at Fenwick Keats Real Estate.
He has made so much noise already during his brief time with the brokerage that he captured the Stonehenge Summer Broker Challenge this year, an honor that carries a $10,000 reward to accompany the prestige.
“I was trying to get a job (in) the psychology field,” Wu said, admitting that real estate was not his original goal after he graduated from the City College of New York in 2013.
“I saw a show, which was Million …

Construction & Design, Featured »

[20 Nov 2014 | No Comment | ]
Construction boss convicted of not paying fair

Attorney General Eric T. Schneiderman today announced the conviction and sentencing of Leonid Fridman for failing to pay legally required wages to his workers on a Port Authority of New York and New Jersey construction project.

Fridman pled guilty to the felony crimes of grand larceny in the second degree and violation of prevailing wage requirements of New York State Labor Law. As a condition of the plea, Fridman agreed to pay $200,000 in restitution to underpaid workers and prohibition from working on public works projects for five years. Fridman was sentenced to five years of probation.

Deals & Dealmakers, Featured »

[20 Nov 2014 | No Comment | ]
Kaufman likes what’s in store uptown

Retail specialist Joshua Kaufman prides himself in marrying the right tenants with the right space and not just a retailer that is willing to pay the asking price.

“I think that goes to the qualitative aspect of why these landlords hire us,” said Gorman, who noted that one of the firm’s newest clients is Columbia University.

“Columbia is interested in improving the neighborhood and providing amenities for residents and really gentrifying these neighborhoods. They hired us not to just go out to the market and find every Tom, Dick and Harry that is interested in opening up a shop there,but to really drill down and find the right tenant mix. It’s not just hanging a sign out,” he said.

Deals & Dealmakers, Featured »

[19 Nov 2014 | No Comment | ]
Beauty show of buyers eye chance to turn ugly duckling into a swan

For more than two decades, 16 squatting artists have made the brownstone at 533 Greenwich Street in Hudson Square an unprofitable, virtually unsellable asset.

But now things are finally looking up — thanks in part to the neighborhood’s recent rezoning.

Construction & Design, Featured »

[18 Nov 2014 | No Comment | ]
FCR buys modular factory from Skanska

Forest City Ratner has taken control of the modular housing factory for its stalled Brooklyn residential tower from Skanska – but don’t expect construction to resume anytime soon.

The firms announced the deal in a press release yesterday (Tuesday). The current litigation between the firms will not be affected by the agreement. Work on the residential tower B2 Brooklyn has been stalled for months due to disputes over delays and cost overruns between Forest City Ratner and Skanska.

By taking over Skanska’s ownership share for an undisclosed amount, Forest City hopes to get the project going again. But it may be a while before construction resumes, said a person familiar with the project.

Deals & Dealmakers, Featured »

[13 Nov 2014 | No Comment | ]
Cadillac closes on 34,000 s/f HQ lease at 330 Hudson

Beacon Capital Partners, LLC, along with partners Ivanhoé Cambridge and Callahan Capital Properties, announced that Cadillac, the iconic luxury auto brand, has selected 330 Hudson Street in New York as the location for its new global headquarters.

Cadillac leased the glass-wrapped, top two floors of 330 Hudson, taking over 34,000 s/f of the 467,000 s/f class A office property in the Hudson Square submarket.

John Nugent, Vice Chairman of CBRE, represented Cadillac in the lease negotiations.

Brokers Weekly, Featured »

[13 Nov 2014 | No Comment | ]
Urban Compass goes to Washington

Brokerage Urban Compass has opened its first office in Washington, D.C. with the acquisition of Lindsay Reishman Real Estate, a leading residential brokerage based in the district. The announcement marks Urban Compass’ first new office outside of New York City, and is a critical step in the company’s strategy to harness the full power of its scalable technology to expand into key markets nationally.
 “Our vision has always been to expand Urban Compass into a national platform, and today’s announcement is a significant milestone in executing on this plan,” stated Urban Compass’ …

Deals & Dealmakers, Featured »

[13 Nov 2014 | No Comment | ]
Office sharing pioneer Adam Stark is everyone’s favorite landlord

Adam Stark is a Princeton-educated, Westchester native. It was far from a stretch that eventually he’d find himself working alongside the city’s top professionals in a midtown Manhattan office.

But while Stark may spend his days among some of New York’s top white collar talent, he isn’t a co-worker, he’s a landlord.

Stark has eight office suite locations in New York City, White Plains, Harrison, Mount Kisco, Rye Brook, Scarsdale, Greenwich and Stamford, totaling 150,000 s/f ofoffice space which it rents to various independent businesses.

Featured, Retail »

[13 Nov 2014 | One Comment | ]
Chop’t signs UWS store lease as  team targets kids, fitness concepts

Two retail spaces on Amsterdam Avenue on the Upper West Side are up for grabs, and leasing agents are looking for the perfect fit for the family-friendly and health-conscious area.

Ross Kaplan and Stu Morden with Newmark Grubb Knight Frank Retail are the exclusive leasing agents for the two spaces at 341-345 Amsterdam Avenue, a residential building on the corner of 76th Street and Amsterdam that contains three retail storefronts. The third retail space was recently taken by salad chain Chop’t, which signed a lease for the 2,500 s/f space last week. Asking rents were $175 psf for that space, but not for the remaining two spots, according to NGKF.

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