Category : Featured

SL Green marks milestones at One Vanderbilt skyscraper
Construction & DesignFeatured

SL Green marks milestones at One Vanderbilt skyscraper

REW
by REW3408
SL Green Realty Corp. just announced several milestones in the development of One Vanderbilt Avenue, the 1,401 ft. Midtown Manhattan tower soon to rise at the doorstep of Grand Central Terminal. One Vanderbilt’s construction manager AECOM Tishman has executed a Guaranteed Maximum Price (GMP) contract, which includes the procurement of...
Deals & DealmakersFeatured

Shvo tax evasion case adjourned for the fourth time

Holly Dutton
by Holly Dutton327
Developer Michael Shvo is due back in court next month, after his tax evasion case was adjourned for the fourth time since last October. The adjournment came as Shvo was sidelined by his partners in the 125 Greenwich Street luxury Lower Manhattan tower project, according to sources involved in the...
Deals & DealmakersFeatured

State lawmakers revive 421a tax break

REW
by REW1988
The New York State Legislature has revived the 421a tax abatement program, ending a stand-off that has persisted for over a year. Now rebranded as Affordable New York, the version of the tax break that gained approval from the Senate and the State Assembly retained key provisions from Governor Andrew...
Chinese firm HNA secures $1.75B loan for 245 Park Avenue purchase
Deals & DealmakersFeatured

Chinese firm HNA secures $1.75B loan for 245 Park Avenue purchase

REW
by REW2351
Chinese conglomerate HNA Group has secured a 10-year, $1.75 billion loan for its acquisition of 245 Park Avenue in Midtown Manhattan. According to Commercial Mortgage Alert, a group of five banks funded the fixed-rate mortgage. The biggest portion came from J.P. Morgan, which provided 25 percent of the loan. The...
Alloy Development unveils plans for 80 Flatbush mixed-use complex
Deals & DealmakersFeatured

Alloy Development unveils plans for 80 Flatbush mixed-use complex

REW
by REW1429
Brooklyn-based Alloy Development has unveiled plans for a massive mixed-use development that will bring two schools, 900 apartments, 200,000 s/f of Class A office space, and 15,000 s/f of cultural space to the borough. The project, located at 362 Schermerhorn Street and dubbed 80 Flatbush, will include two towers, one...
EPA cuts may stall development in Gowanus, Newtown Creek
Deals & DealmakersFeatured

EPA cuts may stall development in Gowanus, Newtown Creek

REW
by REW1577
A major cut to the Environmental Protection Agency’s (EPA) funding could put a damper on real estate development in Gowanus and Newtown Creek, two Superfund sites in New York City that have drawn interested developers. Last week, Attorney General Eric Schneiderman held a press conference on the banks of the...
EPA cuts may stall development in Gowanus, Newtown Creek
Deals & DealmakersFeatured

EPA cuts may stall development in Gowanus, Newtown Creek

REW
by REW1577
A major cut to the Environmental Protection Agency’s (EPA) funding could put a damper on real estate development in Gowanus and Newtown Creek, two Superfund sites in New York City that have drawn interested developers. Last week, Attorney General Eric Schneiderman held a press conference on the banks of the...
Record growth in LIC as 9,000 apartments come online
FeaturedResidential

Record growth in LIC as 9,000 apartments come online

REW
by REW1365
Housing development in Long Island City exploded last year, according to the Long Island City Partnership, an economic development organization for the area. Some 9,000 new units are slated to come online in 2017, the most in a single year and almost double the area’s existing inventory. The latest projects...