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Construction & Design, Featured »

[17 Sep 2014 | No Comment | ]
NYC libraries in woeful state, report finds

A new report published by the Center for an Urban Future finds that while more New Yorkers than ever are using the city’s public libraries, a significant share of the branches suffer from major physical defects.
The report reveals that the average branch library in the city is 61 years old, with a quarter of the city’s 207 branches built over a century ago.
It also shows that the city’s three library systems have at least $1.1 billion in capital needs, with 59 different branches requiring $5 million or more in maintenance …

Deals & Dealmakers, Featured »

[17 Sep 2014 | No Comment | ]
Clothes encounters lead Frenchman to career in real estate

By Holly Dutton

After making a name for himself as the go-to dealmaker for European luxury brands looking to plant a flag in New York City, Bertrand de Soultrait has started his own firm.
De Soultrait, who has made a big splash in his five years in the real estate industry, launched his firm Bertwood Realty about a year ago, after successful stints at two NYC-based firms.
Before making his way into the real estate world, de Soultrait co-founded Vicomte A, a French apparel company with $20 million in annual sales, along with …

Deals & Dealmakers, Featured »

[17 Sep 2014 | No Comment | ]
Dear Mayor, we want to work with you, but …

In an open letter to Mayor BIll de Blasio, RSA chairman Aaron Sirulnick says the city’s building owners want to be part of the solution to the affordable housing crisis.

But, he says, they are getting mixed signals from the administration.

“On one hand, private sector owners of rent-regulated apartments are being asked to help you achieve your unprecedented, comprehensive affordable housing plan. But efforts to preserve existing and create new affordable housing should not be one-sided. The burden is already heavy on those who provide the majority of the City’s affordable housing,” says Sirulnick

Deals & Dealmakers, Featured »

[17 Sep 2014 | No Comment | ]
Kaufman’s historic 2 Gansevoort  a perfect fit for hot fashion house

In a boost to the ongoing upgrade and repositioning of its landmarked Meatpacking District office building at 320 West 13th Street, owner William Kaufman Organization has completed a long-term 79,000 s/f lease with the fashion house, Theory Holdings LLC, for multiple full floors at the historic property.

Deals & Dealmakers, Featured »

[17 Sep 2014 | No Comment | ]
SL Green sells 180 Maiden Lane for $470M

New York City’s biggest landlord, SL Green, has agreed to sell the former AIG headquarters, along with partner The Moinian Group, for $470 million, the firms announced yesterday (Tuesday).

Murray Hill Properties and Clarion Partners are purchasing the 41-story Lower Manhattan building in a joint venture.

Construction & Design, Deals & Dealmakers, Featured »

[17 Sep 2014 | No Comment | ]
New York developers building wrong type of towers

Are New York’s developers building the wrong kinds of office towers? In real estate circles this question amounts to blasphemy – which is perhaps why it takes two academics to ask it.

“We’re not building the stuff that the workers of the future want to be in,” said Vishaan Chakrabarti, director of the Center for Urban Real Estate (CURE) at Columbia University.

“That whole Mad Men idea of building these big, tall, glass skyscrapers, you know, most young workers don’t want to work in that kind of environment.”

Deals & Dealmakers, Featured »

[15 Sep 2014 | No Comment | ]
Broker eats up data on New York City’s  ever-evolving restaurant, retail scene

Though one of the last weekends of summer was fast approaching, Steven Soutendijk, senior director at Cushman & Wakefield Retail Services, was still all business last Friday when Real Estate Weekly paid a visit to his Midtown office.

Soutendijk sat glancing at the double monitors on his desk, a basic streetscape of Third Avenue and 86th Street in Manhattan lay out before him.
Since New York is a living, breathing organism and constantly evolving, these are always changing,” Soutendijk said. “Stores get bigger, stores go out of business, stores shrink, tenants take over other tenant’s leases. So one of the basic functions we have here is to make sure these are up to date.”

Brokers Weekly, Featured »

[12 Sep 2014 | No Comment | ]
Broker helping bring new development to old stomping grounds

By Holly Dutton
Native New Yorker Makeba Lloyd is helping bring new development to the neighborhood she grew up in and still calls home today.
Lloyd, an agent with MNS Realty who specializes in new development and resales, was born in raised in Harlem.
In her 15-year career, she has received recognitions as broker of the year and broker of the month. Her experience spans the residential rental, sales and new development sectors.
Following high school, she originally sought to work in fashion, attending the Fashion Institute of Technology in Manhattan.
“I took a few …

Deals & Dealmakers, Featured »

[11 Sep 2014 | No Comment | ]
Richard Ravitch spells out how to get things done

Developer Richard Ravitch, the former lieutenant governor of New York and one-time chair of the MTA, penned a memoir on his life as a public servant and builder that is also a cautionary tale about fiscal management.

Ravitch, now 80, was at the forefront of reviving New York’s financial heartbeat during the 1970s, and tried to do the same for the MTA, almost getting shot in the process.

In April, he released his biography, So Much to Do ($27, Public Affairs), which has already had a second printing in New York.

Recently, after returning from a literary tour, he talked with Real Estate Weekly about his book and his experience dealing with the effects of government borrowing while also attempting to fund services vital to New Yorkers…

Deals & Dealmakers, Featured, Finance & Accounting »

[10 Sep 2014 | No Comment | ]
Northmarq inks $192M construction loan for Mack-Cali ‘micro-towers’

Northmarq Capital’s New Jersey office negotiated a $192,000,000 construction to permanent loan on URL Harborside 1.

The project will be located at 200 Greene Street in the Harborside Financial District in Jersey City, New Jersey, and will consist of a 69 story apartment tower containing 763 units, 5,204 s/f of retail space and an eight-story parking garage containing 222 spaces.

The building will be one of the first in the market to introduce an emerging concept sustainable and space efficient units under the banner of URL® (Urban Ready Living®).)

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