Category : Featured

FeaturedResidential

New York grapples with Hurricane Sandy housing crisis

REW Staff
Light fixtures swung back and forth and the 59-story building creaked so loudly, Lindsay White and her sister Erin could barely hear themselves talk. The sisters and roommates decided to ride out Hurricane Sandy since they were in Evacuation Zone B and nothing happened during last year’s Hurricane Irene. The next day, White walked down 18 flights of stairs to survey the damage. Her building had been spared, but nearby blocks were not so lucky. By Governor Cuomo’s estimate, between 20,000 and 40,000 New Yorkers have been forced to seek housing after Sandy ravaged their homes. In a rental market already airtight, the outlook is grim for many.
Construction & DesignDeals & DealmakersFeatured

Durst taking LEED in setting new green standards

Sarah Trefethen
The Durst Organization is out to set the standard for green building — literally. The developer of One Bryant Park, the first LEED platinum certified skyscraper in the country, has announced it will not seek LEED certification for its residential pyramid planned for West 57th Street. “Up until now, we’ve always used LEED and we greatly respect what has been accomplished in making the public aware of the issues,” said Jody Durst. “But we’ve been at it now for so long we think that the current standard is holding us back.”
Deals & DealmakersFeatured

FEMA sets up at Muss Tower

REW Staff
FOREST HILLS TOWER Muss Development has signed the Federal Emergency Management Agency to a 200,000 s/f lease at Forest Hills Tower to serve as the … Continued
FeaturedResidential

Hot shot manager always hits her target

REW Staff
By Al Barbarino Julia Bryzgalina walks and talks with an air of confidence that defies her mere 25 years. Dressed to the nines all the way down to a pair of spotless black leather heels, the Platinum Properties’ manager states matter-of-factly that they are no different from the heels she wore as a member of Yale University’s Pistol and Rifle Club. “It’s pretty much the only sport you can do while still wearing heels, which I liked a lot,” she said, grinning slightly, adding that she was the only female member of the team, and quickly erasing any doubt that she is someone who knows what she wants, and that she, well, sticks to her guns.
Featured

One57 Crane secured after Sandy battering

REW Staff
A partially collapsed crane at the One57 construction site due to Hurricane Sandy winds forced evacuations around the area. By Holly Dutton One week after … Continued
REBNY: Industry will restore what Mother Nature tore down
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REBNY: Industry will restore what Mother Nature tore down

REW Staff
Hurricane Sandy was terribly devastating to our great city and the tri-state region. This destruction of homes and businesses and irreplaceable loss of life will be remembered for a long time. It has been reported that Hurricane Sandy will end up causing about $20 billion in property damages and $10 to $30 billion more in lost business. New Yorkers are strong, resilient and committed. Our city and the real estate industry will rebuild and restore what Mother Nature tore down.
Construction & DesignFeatured

World Trade Center building schedule still on track

REW Staff
Construction at the World Trade Center resumed this week after floodwaters poured into the site during Hurricane Sandy. The day after the storm the decimated much of the tri-state area, Silverstein Properties said inspectors examined the company’s three building sites along the eastern portion of the WTC site. According to the company, all of the construction cranes at the site are in “working order,” no structural damage occurred at any of Silverstein’s WTC towers, including 4WTC, which remains on schedule to be completed in 2013.
FeaturedResidential

Selling a crime scene? How brokers deal with the fear factor

Sarah Trefethen
You don’t have to be superstitious to believe in ghosts. Every previously occupied property has a history, and that history can have real effects on how potential buyers or tenants react to a space. Homes that become the scene of a violent crime can suffer a value loss ranging from 15 to as much as 100 percent of the value of the home, according to Randall Bell, an appraiser who specializes in disasters.
Deals & DealmakersFeatured

Foreign investors turning Manhattan retail corridors into a tale of two different streets

REW Staff
By Al Barbarino Demand continues to surge in Manhattan’s prime retail corridors, but it may be happening at the expense of those that are less prominent, according to real estate professionals who spoke at the Real Estate Services Alliance (RESA) “Powerhouse Retail Panel” last week (Thursday) at the offices of Eisner Amper. The strength in retail comes from the 50.9 million annual visitors who visited the city last year (spending $34.5 billion); reenergized development projects; and the allure of its prime corridors, reborn as global demand for New York City real estate booms.