Category : Featured

Westbrook buys Terminal share
Featured

Westbrook buys Terminal share

REW
by REW1017
Westbrook Partners has bought out a major partner of the St John’s Terminal building at 550 Washington Street, paving the way for a redevelopment of the site. The company paid $200 million to buy the majority share of the property owned by Fortress Investment Group in a transaction that valued...
19 new office towers rising in city
Featured

19 new office towers rising in city

REW
by REW1008
Buoyed by increasing employment, low interest rates, and a large supply of shovel-ready development sites at Hudson Yards and the World Trade Center, office construction in New York City is at its highest level since 1990, according to the New York Building Congress. In 2015 and 2016, a total of...
FeaturedResidential

Bay Ridge’s increasing popularity — and what’s holding it back

REW
by REW2810
The neighborhood of Bay Ridge, Brooklyn isn’t exactly unknown – it was perhaps most famously immortalized in the hit movie “Saturday Night Fever,” starring a young John Travolta, in 1977. It depicted the middle-class community along the southwest shore of Brooklyn as a bustling, family-oriented place to call home. Bay...
Hudson Rise dispute gets messy
Deals & DealmakersFeatured

Hudson Rise dispute gets messy

REW
by REW1744
The dispute for the 42-story Hudson Rise hotel-condo tower in Midtown continues on, even though some of the combatants aren’t clear on the status of the conflict. After figuring in lawsuits for control of the 380,000 s/f project, Siras Development announced that Kuafu Properties has agreed to settle their disagreement...
New rules for building owners after Legionnaires’ outbreak
Deals & DealmakersFeatured

New rules for building owners after Legionnaires’ outbreak

REW
by REW1115
New York Governor Andrew Cuomo has announced state-wide emergency regulations to stop the spread of Legionnaires’ disease. The new requirements, which take effect immediately, has made it mandatory for building owners to register and test their cooling towers over the next 30 days. “This summer’s outbreak of Legionnaires’ disease caused...
FeaturedHeadline

New Yorkers feeling neighborsʼ pain as PR debt reaches $72B

REW
by REW2474
Puerto Rico’s debt crisis has been attributed to a wide range of factors. So far, the blame has rotated between its tax policies (which critics describe as outdated), its ambiguous political status as a US commonwealth, and its waning popularity among tourists. All these factors may have played a role...
Construction & DesignDeals & DealmakersFeaturedHeadline

Hudson River tunnel project back on, says Schumer

REW
by REW2555
The Gateway Project, a plan to build a high-speed railway corridor under the Hudson River between New Jersey and New York, is back on. A day after Amtrak president Steven Gardner testified before the New Jersey Senate Legislative Oversight Committee about the railway’s outdated equipment and much-needed repairs, Senator Chuck...
“Great Reset” calls for tax rebates for renters
Debt & EquityFeatured

“Great Reset” calls for tax rebates for renters

REW
by REW872
Pointing to a shortfall in New York City’s supply of affordable housing units, the authors of an NYU research paper offered recommendations similar to an earlier tax plan from Governor Andrew Cuomo. The study, which was written by experts from the university’s School of Professional Studies, recommended government assistance to...
Deals & DealmakersFeatured

Vornado bets on West Side office market

REW
by REW1034
Vornado has placed a bet on the burgeoning West Side office market. The REIT announced yesterday (Tuesday) it has purchased the former Otis Elevator Building at 260 Eleventh Avenue with plans to redevelop the property as offices catering to commercial newcomers. As Related presses on with its 26-acre Hudson Yards...
Deals & DealmakersFeatured

Frontline broker who is running rings around his competition

REW
by REW1290
Despite being born into a real estate dynasty, Sean Black turned his back on tradition to pursue dreams of sporting success. The recently appointed executive director at Cushman and Wakefield made it all the way to the 1996 Olympics as a champion boxer and even flirted with a career in...