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[26 Mar 2015 | No Comment | ]
Who wants housing? Diaz, Adams to unravel rezoning conundrums at annual BuildingsNY event

Borough Presidents Ruben Diaz Jr. of the Bronx and Eric Adams of Brooklyn will keynote the opening of BuildingsNY 2015 at 9 a.m. Tuesday, April 28 in the Javits Center with a panel discussion on “Housing in the Boroughs: Who Wants It?”

“Everyone says they want affordable housing, but every proposed project or rezoning effort faces opposition,” remarked Dan Margulies, Executive Director of Associated Builders and Owners (ABO), founding sponsor of BuildingsNY.

“Borough Presidents Diaz and Adams have led the way in outlining their visions for new housing in their boroughs and are also on the front lines dealing with concerned communities. The development community is looking forward to their insights on where housing may really be welcome.”

Deals & Dealmakers, Featured »

[26 Mar 2015 | No Comment | ]
Finance upstart making himself heard among industry bigs

By Konrad Putzier
Competitive debaters need to be able to make a convincing argument for pretty much anything. At a given tournament, they may be asked to argue that euthanasia is desirable, that heroin should be legalized or that the world is flat.
Adi Chugh is a former debating champion, and you can tell from the way he talks about his business success.
Chugh, the founder of real estate debt brokerage Maverick Capital Partners, is arguably in a difficult position.
A relative newcomer both to New York and to real estate, he is trying …

Deals & Dealmakers, Featured »

[26 Mar 2015 | No Comment | ]
MetLife inks 550,000 s/f lease at 200 Park

By Dan Orlando
Insurance giant MetLife announced that it will consolidate its offices in 550,000 s/f of office space at 200 Park Avenue.
The company has signed a 12-year lease with 200 Park owner Tishman Speyer to expand it’s current 120,000 s/f lease at the tower to bring staff from all four of its current New York City offices under one roof.
Cushman and Wakefield’s Bruce Mosler and John Cefaly brokered the leader for MetLife. Tishman Speyer declined to comment on the transaction.
“MetLife is pleased to announce that it will make the MetLife …

Deals & Dealmakers, Featured »

[25 Mar 2015 | No Comment | ]
Parking magnate Lowell Harwood dead

Lowell Harwood, the Jersey City parking boss who grew his business to a $100 million empire, has died. He was 85.

Harwood, who led Harwood Properties, built and grew the business, breaking into the competitive New York market with a shrewd business model of choosing the right locations and charging reasonable prices.

Featured, Retail »

[25 Mar 2015 | No Comment | ]
Legislation could save mom and pops from New York’s retail giants

New legislation could curb a trend of mom-and-pop businesses being replaced by banks and chain stores.

Manhattan Borough President Gale Brewer said she’s drafting legislation that would make it mandatory for a building’s owner to at least allow a retail tenant a chance to negotiate to keep his or her space.

“The future of street level retail stores and restaurants… has begun to look murky,” Brewer said. “Every day, the press has another story about a kids’ clothing store or a shoe repair shop closing to make room for a chain or a bank.”

Featured, Property Managers »

[25 Mar 2015 | No Comment | ]
Power company making demands on big users

As New York remains in the grip of a deep freeze, owners are being urged to consider much warmer temperatures and the little steps they can take to make a big difference to their bottom line.

ConEdison Solutions, a subsidiary of Consolidated Edison Inc., is in the midst of a campaign to prepare for the power-sucking peak energy usage periods of the summer with a program that pays property owners to turn down.

The company’s Demand Response and Demand Management programs pay building owners up to $50,000 per 100 kilowatts of load relief provided.

Featured, Green Building »

[25 Mar 2015 | No Comment | ]
L&L creating New York’s healthiest building at 425 Park

L&L Holding announced that it is seeking to create New York City’s first WELL Core & Shell Compliant office tower at 425 Park Avenue.

The company has officially registered the development to pursue WELL Core & Shell Compliance, the first building standard to focus on enhancing people’s health and well-being through the built environment.

Deals & Dealmakers, Featured »

[25 Mar 2015 | No Comment | ]
Slate scoops up Alexico apartment building

Developer Martin Nussbaum is preparing to polish a rough diamond he dug up on Sutton Place.

The principal and co-founder of Slate Property Group just paid $13.95 million for a near-empty apartment building held for nearly 13 years by Izak Senbahar and Simon Elias’ Alexico Group.

“It is rare to find a predominately vacant building in a premier Manhattan neighborhood,ˮ said Nussbaum.

Deals & Dealmakers, Featured, Finance & Accounting »

[24 Mar 2015 | No Comment | ]
$120M mortgage for 30 Park purchase

Meridian Capital Group has negotiated $120 million in financing for the purchase of 30 Park Avenue.

Public records show the 20-story building was purchased by Thor Equities for $179 million. However, Cammeby’s International has taken a majority stake in the property. Eli Shron, a vice president at Cammeby’s, signed the mortgage agreement for borrower.

Construction & Design, Featured »

[23 Mar 2015 | No Comment | ]
MdeAS to reinvent Himmel + Meringoff tower

The partnership of Himmel + Meringoff and The Swig Company, co-owners of 1460 Broadway, the 215,000 s/f, mixed-use Bryant Park office tower, has selected MdeAS Architects to redevelop and reposition the 16-story property acquired jointly last September, 2014.

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