Category : Featured

FeaturedResidential

Well Off Old Folk head back to city in droves

REW
by REW727
By Holly Dutton Forget Florida — today’s retirees are packing their bags for the big city, looking to spend their golden years taking in all the culture big metros like New York City offer. So-called “WOOF-ers” (well-off older folk) have the right amount of money and the right amount of time to buy a pad in a city where the average apartment price is $1.35 million, according to Douglas Elliman’s 1Q 2013 market report. Since the housing crisis in the late 2000s, urban living has increased dramatically, according to the 2010 Census, which reported that more than 80 percent of the country’s population now lives in urban areas. Additionally, in June of 2012, the U.S. Census Bureau reported that population in 27 of the country’s largest cities grew faster than the surrounding suburbs, a first since the 1920s.
Featured

No butts about it: RGB votes to raise New York City rents

REW Staff
by REW Staff598
By Maria Rocha-Buschel The city's Rent Guidelines Board last week voted to increase rent-stabilized rents 4 percent on one-year leases and 7.75 percent on two-year leases. The hikes are significantly higher than last year’s, 2 and 4 percent for one and two-year leases, respectively, though the RGB’s preliminary votes could have allowed for increases as high as 9.5 percent for two-year leases.
New York, New Jersey emerge as foreclosure leaders
FeaturedResidential

New York, New Jersey emerge as foreclosure leaders

REW
by REW1352
By Orlando Lee Rodriguez After years of being insulated from the distressed property crisis facing the single-family asset class, the New York City region now has one of the country’s highest foreclosure rates.
Forest City Ratner wins contract for corporate space on Cornell’s Roosevelt Island campus
Construction & DesignFeatured

Forest City Ratner wins contract for corporate space on Cornell’s Roosevelt Island campus

REW Staff
by REW Staff797
Cornell NYC Tech today announced a major advancement in its effort to bringindustry and academia together on its Roosevelt Island campus with plans todevelop its first “corporate co-location” building. This building will house a mix of companies at the heart of the campus, facilitating the interaction between academia and industry that is central to Cornell Tech’s mission. On Thursday, Cornell University’s Board of Trustees approved the plan to move forward with Forest City Ratner Companies as the developer of this building, subject to finalizing plans and terms. Forest City Ratner would also act as master developer, overseeing development of the first academic building, the open space and related infrastructure for the first phase of the campus.
Construction & DesignFeaturedRetail

NGKF to lease retail for NoMad hospitality venture

REW Staff
by REW Staff800
Newmark Grubb Knight Frank (NGKF) Retail and Hospitality Services has been tapped by the Lam Group to lease the retail portion of a 400,000 s/f mixed-use development project in NoMad. The development will include two luxury hotels, including a Virgin Hotel, as part of the its effort to create “a lively lifestyle-concept hospitality experience,ˮ according to the developers. NGKF’s Rika Lisslö, Ross Perlman and Neal Golden will head the leasing effort of 100,000 s/f at the site, which will take up the entire block frontage on Broadway from 29th Street to 30th Street
Deals & DealmakersFeatured

Bookstore puts place-holder at midtown penthouse

REW Staff
by REW Staff684
Skyline Developers announced that Glenn Horowitz Bookseller, Inc., a premier bookseller and art dealer with offices in Manhattan and East Hampton, will be relocating its Union Square office to 20 West 55th Street. The Bookseller has signed a 15-year lease for the entire penthouse space, a total of 4,462 square feet.
Deals & DealmakersFeatured

Robert Lieber named chairman of ULI New York

REW Staff
by REW Staff774
Former Deputy Mayor for Economic Development, Robert Lieber has been named the new chairman of the Urban Land Institute NY. Lieber, now an executive managing director at Island Capital Group in New York City, said he hoped to use his position to advance a forum for the meeting of minds all working towards the development of New York. “This network is a highly effective information exchange through which members in vastly different markets can share ideas and best practices. It is one of ULI’s great offerings,” said Lieber.
Construction & DesignFeatured

280-unit rental building breaks ground in Weehawken

REW Staff
by REW Staff802
Mack-Cali Realty Corporation broke ground Wednesday, June 19th, on its first new-construction residential project since acquiring multi-family developer Roseland in October, 2012. Executives from Mack-Cali and its Roseland subsidiary joined Weehawken, NJ Mayor Richard Turner and fellow officials from the Township of Weehawken and Hudson County to commence construction on RiverParc at Port Imperial, a 280-unit luxury rental building rising along the Hudson Riverfront. The 10-story building will be the latest rental property developed in the southern portion of Port Imperial, a mixed-use, master-planned waterfront development which spans two and a half miles directly across the Hudson River from Midtown Manhattan.
FeaturedResidential

NoMad condo earns star among World’s Most Famous neighbors

REW
by REW1018
Sandwiched between the Village and Midtown, Madison Square would naturally seem like an investment no-brainer, but landmarking of the area has made new development difficult to achieve. Enter 241 Fifth Avenue, one of the only new developments to go up within the Madison Square North Historic District.
Deals & DealmakersFeatured

Winoker brokerage re-launched as EVO

REW Staff
by REW Staff
DANA MOSKOWITZ The partnership of four New York real estate principals who acquired Winoker Realty in February has re-launched the brokerage as EVO Real Estate … Continued