Category : Featured

Brookfield, Swig plan 386,000 s/f office, retail tower at 1100 Ave. of the Americas
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Brookfield, Swig plan 386,000 s/f office, retail tower at 1100 Ave. of the Americas

REW
by REW3322
Brookfield Property Partners and The Swig Company have signed a long-term net lease at 1100 Avenue of the Americas. The site, which is owned by the Nickerson family, will likely be redeveloped into a 386,000 s/f office and retail building, the companies announced. “At the epicentre of Midtown, Bryant Park...
Deals & DealmakersFeatured

Wheelock joint venture acquires 1,009-unit NJ housing portfolio for $180M

REW
by REW1026
Hudson Valley Property Group LLC and Red Stone Companies, LLC, in joint venture with Wheelock Street Capital, acquired 1,009 units of New Jersey senior and family affordable housing located throughout northern New Jersey. The seven properties are subsidized through US Department of Housing and Urban Development project-based Section 8 contracts....
Deals & DealmakersFeatured

Council proposal aims to give more power to community boards

REW
by REW1183
City Council Member Antonio Reynoso and Manhattan Borough President Gale Brewer are looking to overhaul the way the city evaluates real estate projects. According to Crain’s, the two officials are proposing more community engagement in the process, giving residents the chance to intervene before the city starts a land-use review...
Construction & DesignFeatured

NYC construction starts top $32B in 2016

REW
by REW1275
The value of New York City construction starts reached $32.2 billion in 2016, a decline of 22 percent from 2015, according to a New York Building Congress analysis of construction data from Dodge Data & Analytics. While the overall value of last year’s construction starts is down from $41.1 billion...
Record penalty for 2014 East Harlem gas blast that killed 8 people
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Record penalty for 2014 East Harlem gas blast that killed 8 people

REW
by REW2107
Energy company Con Edison has agreed to pay the largest gas safety-related settlement in New York State history over a fatal gas explosion in East Harlem in 2014 which killed eight people and injured 50. The firm, which was found to have violated 11 gas safety regulations, will pay a...
Deals & DealmakersFeatured

Landlords lambast legal aid plan

REW
by REW1063
The real estate industry rounded on Mayor Bill de Blasio after a State of the City speech that included plans for a new mansion tax and legal aid for tenants facing eviction. “We think this is a good concept and a positive step forward, but unfortunately it will serve only...
Construction & DesignFeatured

Report: New York City remains highest cost of construction market in the United States

REW
by REW1928
New York City remains the highest cost of construction market in the United States, but the rate of increase in 2016 was more in line with cost increases nationally than in recent years, according to a New York Building Congress analysis of multiple cost indices and interviews with representatives of...
AvalonBay nixes JV for $600M redevelopment of former Bible Society HQ
Deals & DealmakersFeatured

AvalonBay nixes JV for $600M redevelopment of former Bible Society HQ

REW
by REW1256
Apartment REIT AvalonBay Communities has decided not to form a joint venture for its half-acre site at 1865 Broadway on the Upper West Side. The firm, which was exploring a joint venture or forward sale agreement for the $600 million project, said that market conditions have made it necessary to...
Deals & DealmakersFeatured

Construction workers protest City Council site safety bills

REW
by REW1366
Members of the construction industry took to the streets for the second time in two weeks yesterday (Tuesday) as the City Council introduced a package of bills aimed at increasing construction site safety. The proposed measures follow 30 deaths on New York City job sites over the last two years,...
RSA lawyers fight rent freeze, citing RGB “errors” over tenant affordability
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RSA lawyers fight rent freeze, citing RGB “errors” over tenant affordability

REW
by REW1105
By Sabina Mollot Lawyers for landlords group Rent Stabilization Association (RSA) were met by an angry crowd of protesters as they arrived in court to argue against a citywide rent freeze yesterday (Tuesday). Despite freezing temperatures and snow, the sign-waving group of renters, made up mostly of seniors, led chants...