Category : Featured

Construction & DesignFeaturedHeadline

City seeking developer for Navy Yard super store

REW Staff
by REW Staff1118
Nearly 25 years after the redevelopment of the six-acre Admirals Row site at the corner of Flushing Avenue and Navy Street was first proposed, the federal government has transferred the property to the City of New York, which will turn it over to the Brooklyn Navy Yard Development Corporation (BNYDC) for development. The move paves the way for the area’s first major supermarket will be built and new space for industrial tenants will be developed. BNYDC, which manages the Brooklyn Navy Yard on behalf of the City, will now issue a request for proposals (RFP) seeking a developer to create a 74,000 s/f supermarket and 79,000 s/f of additional neighborhood retail space, as well as 127,000 s/f of industrial space on Admirals Row.
Deals & DealmakersFeatured

No more sitting on the shelf as Schechtman climbs ladder

REW Staff
by REW Staff862
By Al Barbarino Six years ago, David Schechtman was sick of locking horns with other lawyers.  So he took a career leap into brokerage.  He called it a “tremendous diversion.” “Very often I found myself advocating for one side only,” he said, about his years as a litigator.  “As a broker, very often you’re working with more than one party to achieve a common goal and it’s not just to espouse one position or another.  It’s a wonderfully refreshing place to be.”
Deals & DealmakersFeatured

West 14th Street waiting for retail rebound and a chance to sock it to ’em

REW Staff
by REW Staff773
By Al Barbarino Inside 365 West 14th Street, three lonesome, white, overhead lights hang over a barren retail space. Further east, a passerby peers through the façade at 46 West 14th Street, uncovering little more than a few empty, wooden shelves inside the now defunct jewelry store, Gem Story. The vacant spaces are hardly gems. A slew of “for rent” signs line West 14th Street, from Fifth Avenue all the way down through the Meatpacking District.
FeaturedResidential

Brokers get a preview of $20 million West End Avenue apartment

REW Staff
by REW Staff890
By Liana Grey Last year, Lisa Lippman, a senior vice president at Brown Harris Stevens, nearly secured a buyer for a $19.5 million listing at 535 West End Avenue, Extell’s prewar-style condo development on the Upper West Side. “The prospective buyer’s money is stuck in the European debt crisis,” Lippman explained. So she and her team continued to market the six-bedroom mansion in the sky. “All sorts of people are looking,” said Lippman, who has overseen a number of sales on the Upper West Side and was named Brown Harris Stevens’ West Side Broker of the year in 2010.
Construction & DesignFeatured

Rooftop lounge coming to 960 Avenue of the Americas

REW Staff
by REW Staff808
Manhattan-based owner Hidrock Realty recently announced a deal that will put a 3,500-s/f lounge atop the soon-to-open Courtyard by Marriott, located at 960 Ave. of the Americas. The creation of a well-established operator, the upcoming lounge is slated to open in the third quarter of 2012. Hidrock’s Steven Hidary, principal, and Robert Kaplan, director of leasing, represented both the tenant and the landlord, 960 Associates, LLC, an affiliate of Hidrock.
Deals & DealmakersFeatured

Mayor’s Plan Faces Hurdle

REW Staff
by REW Staff901
By Al Barbarino Manhattan Borough President Scott Stringer is calling out Mayor Michael Bloomberg on a plan to sell off three city-owned buildings. Bloomberg wants to make some quick cash from the sale of 22 Reade, 49-51 Chambers and 346 Broadway, which some real estate professionals say could fetch as much as $350 million. However, Stringer claims the greater interests of the city’s people are taking a back seat to the Bloomberg Administration’s short term monetary goals.
Deals & DealmakersFeatured

Delinquincy Rate A Sign of What’s Ahead in 2012

REW Staff
by REW Staff774
By Al Barbarino The commercial mortgage-backed delinquency rate increased seven basis points to 9.58 percent in December 2011 – and there’s more to come in 2012, according to the latest analysis from Trepp. While the numbers danced around in 2011 (eight of 12 months saw rate increases) and the December...
Deals & DealmakersFeatured

REIT Returns Restore Investor Confidence

REW Staff
by REW Staff844
By Al Barbarino A strong fourth quarter helped real estate investment trusts rake in record-breaking amounts of capital n 2011, bolstering investor confidence and boosting buying power for 2012. REITs raised $51.3 billion in public equity and debt, surpassing the $49 billion record previously set in 2006, the National Association...
Deals & DealmakersFeatured

Thor Equities, Taconic Investment Partners to redevelop 837 Washington Street

REW Staff
by REW Staff850
Taconic Investment Partners and Thor Equities have formed a joint venture to redevelop 837 Washington Street in the Meatpacking District at a valuation of $55 million. 837 Washington will be developed into a brand new 55,000 s/f, six story office and retail building featuring a four story glass and steel addition built atop an existing warehouse. 837 Washington will be developed into a brand new 55,000 s/f, six story office and retail building featuring a four story glass and steel addition built atop an existing warehouse. Across the street from Andre Balazs Standard Hotel, 837 Washington is one of most prominent retail locations in all of the Meatpacking District.
FeaturedResidential

Lifting the lid on hoarding

REW Staff
by REW Staff1104
By Liana Grey On a recent episode of Hoarders, the A&E series on compulsive collecting habits, a woman in Maryland nearly died from a virus she contracted in her garbage-filled home. Earlier in the season, a hoarder went without heat and running water for two years as her condition spiraled out of control. For property managers in the New York area, situations like these are more than the stuff of television.