Category : Construction & Design

421a countdown has developers jittery over future plans
Construction & DesignDeals & DealmakersFeatured

421a countdown has developers jittery over future plans

REW
by REW991
421a’s nearly five-decade run in New York City is being threatened as the measure is set to sunset next summer. The uncertainty surrounding the tax abatement’s future has caused unrest among developers and investors who are staring at bottom lines that hinge in no small part on the status of the tax incentives that the measure provides.
Construction & DesignRetail

Boaters favorite clam bar to be rebuilt

REW
by REW1045
Racanelli Construction Company has been awarded a construction project to rebuild the iconic Nicky’s Clam Bar on the Great South Bay in Bay Shore, NY. The existing clam bar, known to all boaters in the area, will be knocked down and demolished and replaced by a brand new and updated...
BJ’s goes big in Brooklyn
Construction & DesignRetail

BJ’s goes big in Brooklyn

REW
by REW1304
Retail construction specialists B.R. Fries & Associates has completed BJ’s Wholesale Club on the waterfront of Brooklyn. The 135,000 s/f, two-story outlet, which opened last month, is the big box retailer’s largest store. The Bensonhurst site presented some unique challenges for the building team, most critical the location on a...
Construction & Design

Simone delivers new 12-story Bronx medical center

REW Staff
by REW Staff1379
Montefiore Health System, the University Hospital for Albert Einstein College of Medicine, opened its new Hutchinson Campus – a 12-story, 280,000 s/f multi-specialty care center developed by Simone Healthcare Development that offers New Yorkers the latest in ambulatory medicine. Montefiore’s new campus is one of the largest ambulatory surgery centers...
Construction & DesignPhoto Gallery

Crowds turn out for NY Festival of Lights

REW Staff
by REW Staff711
[slideshow id=376] Photos by Nicolas Lemery Nantel For three nights – November 6 – 8, The New York Festival of Light (NYFOL), illuminated DUMBO, Brooklyn, with a curated collection of lighting installations from renowned artists working in the medium of light from all over the world and right here in...
Simon Baron Development to fund new micro-housing venture
Construction & DesignDeals & DealmakersDebt & EquityFeatured

Simon Baron Development to fund new micro-housing venture

REW Staff
by REW Staff1574
Stage 3 Properties and Simon Baron Development Group announced the launch of a new micro-housing venture to address the needs of first-time renters in New York City and similarly rent-burdened communities in other cosmopolitan markets. The newly formed partnership aims to assist first time renters in their transition from one life stage to the next by introducing 10,000 high-end micro-units, starting with several major east coast cities, including New York City, Boston, Philadelphia, Washington D.C., and Miami.
Construction & DesignDebt & EquityResidential

Durst gets $410M square deal for his ‘pyramid’ building

REW Staff
by REW Staff1706
The Durst Organization celebrated the topping of its tetrahedron at 625 West 57th Street by closing on a $411.5 million construction loan. Wells Fargo took $110 million of the loan, while BNY Mellon, the syndication agent, took $111.5 million, the Commercial Observer first reported. PNC Bank, M&T Bank and TD...
Construction & Design

WHO’S NEWS: Construction and Design

REW Staff
by REW Staff732
Schiff Hardin LLP welcomed James E. Frankel to the firm’s New York Office as a partner in its Construction Practice. Frankel and his prior firm were recognized by the Financial Times with a 2012 Innovative Law Firm award for providing the public and non-profit sectors with a cost effective, fully...