Category : Featured

L&L signs record-shattering Citadel lease at 425 Park Avenue

REW February 17, 2016 February 17, 2016

by REWFebruary 17, 2016February 17, 20163243

L&L Holding Company has finalized a lease with Citadel to occupy approximately 200,000 s/f at 425 Park Avenue, a 670,000 s/f office tower currently under construction in the Plaza District of Midtown Manhattan. Citadel will relocate from its current offices at 601 Lexington Avenue once the building is completed in late 2018....

Deals & Dealmakers Featured

Institutional investors warming to Airbnb

REW February 17, 2016 February 17, 2016

by REWFebruary 17, 2016February 17, 20162107

Airbnb, the short-term apartment rental service, has long sold itself as a way for struggling tenants to make money on the side, exchanging free space in their apartments for some rent relief. While the majority of “hosts” on the website still fit this description, some professional investors are starting to...

Deals & Dealmakers Featured

NYC hotel market strong but potentially stunted

REW February 17, 2016 February 17, 2016

by REWFebruary 17, 2016February 17, 20161884

The level of demand in the residential real estate market will tell you that New York is a place where people want to live. A look at the hotel market suggests that it is in fact where people want to stay as well. But is the hotel sector a market...

Featured Office Market

Now trending: Midtown’s big block delta

REW February 10, 2016 February 10, 2016

by REWFebruary 10, 2016February 10, 20161332

Tenants are eschewing the traditional Midtown business corridors and heading out West and down South. A report by Newmark Grubb Knight Frank (NGKF) found that companies are increasingly seeking out other corridors instead of Midtown, leaving a glut of supply in the once-hot area. In the first quarter of 2016,...

Deals & Dealmakers Featured

LaBarbera: 421-a is ‘dead’ and should not be revived ‘under any circumstances’

REW February 10, 2016 February 10, 2016

by REWFebruary 10, 2016February 10, 20161760

Despite a recent display of flexibility in regards to 421-a guidelines, the cityʼs affordable housing logjam seems no closer to a resolution. Calling the 421-a tax program “dead” and suggesting that it should not be renewed “under any circumstances” barring the inclusion of a prevailing wage mandate, Gary LaBarbera, president...

Deals & Dealmakers Featured

Garodnick: East Midtown transit problems too big to be solved through rezoning

REW February 10, 2016 February 10, 2016

by REWFebruary 10, 2016February 10, 20161203

While the rezoning of East Midtown has been tied to transit improvements with promises of reworked subway stations, its overall effect may amount to a drop in a bucket. “As to whether or not it would be enough to support the mass transit needs, definitely not. The transit needs in...

Deals & Dealmakers Featured

Controversial Sutton Place project may be out of reach of opponents

REW February 9, 2016 February 9, 2016

by REWFebruary 9, 2016February 9, 20161153

A few weeks ago, an East Midtown community group unveiled a rezoning plan that aims to prohibit the development of tall towers in an area covering 52nd to 59th Street east of First Avenue. The organization, called the East River Fifties Alliance, fiercely opposed the development of a 68-story tower...

Construction & Design Featured

Fatal crane collapse prompts new safety measures

REW February 9, 2016 February 9, 2016

by REWFebruary 9, 2016February 9, 20161132

Mayor Bill de Blasio has announced new safety measures for the construction industry following a crane collapse last week that killed one person and injured three others. The accident happened the morning of Feb. 5, when construction workers at 60 Hudson Street, the former Western Union building, were attempting to...

Construction & Design Debt & Equity Featured

Tishman Speyer secures $1B in financing to build new Bjarke Ingels-designed Spiral

REW February 8, 2016 February 8, 2016

by REWFebruary 8, 2016February 8, 20161448

Tishman Speyer has unveiled the BIG-Bjarke Ingels Group conceptual design for its planned 65-story tower at 66 Hudson Boulevard in Manhattan. The developer also announced that it has secured more than $1 billion in equity for the project from a group of international investors. Called The Spiral, the 2.85 million...

Featured Residential

Industry young gun Stefani Markowitz blazing a trail at the helm of Rutenberg

Linda O'Flanagan February 4, 2016 February 4, 2016

by Linda O'FlanaganFebruary 4, 2016February 4, 20162622

With long blonde hair and model good looks, Stefani Markowitz could have been anything she wanted to be. Born in Manhattan and raised in Westchester, she grew up in a happy home filled with a bunch of kids, each encouraged to reach for their own star. Medicine was a mainstay...