Category : Headline

Brookfield begins $4.5B Manhattan West project
Deals & DealmakersHeadline

Brookfield begins $4.5B Manhattan West project

REW
by REW1686
As midtown marches west, a key engine piston driving change, began constructing the first vital link between New York’s future transportation hub and the neighborhood that will become Hudson Yards. Representatives from Brookfield Office Properties Inc. (NYSE:BPO), the City of New York and the Port Authority of New York and New Jersey gathered at the now barren site on West 33rd Street and 9th Avenue, which will become Manhattan West. “Today we are launching a project which is as important to the city of New York as the covering over of Park Avenue in the 1920’s,” said John E. Zuccotti, Co-Chairman of Brookfield Office Properties. “[That] was in fact the start and the stimulus for years of development.”
Deals & DealmakersHeadline

Brokers say thank you, fiscal cliff

Sarah Trefethen
by Sarah Trefethen
42 per cent of sales happened in the fourth quarter The prospect of a fiscal cliff prompted a rash of fourth quarter deals that made … Continued
Editorial SupplementsHeadline

Congress skips out on Sandy aid

Sarah Trefethen
by Sarah Trefethen768
A hoped-for $60 billion federal aid bill that included relief funds for New York and New Jersey residents affected by October’s Superstorm Sandy was left on the floor by U.S. House of Representatives Wednesday. A number of leaders of New York’s real estate industry had called on congress to pass the bill. "That Congress has been unwilling or unable to pass the Sandy aid package and provide constituents of the damaged areas with the funds required to rebuild their lives is beyond deplorable" Joe Sitt, CEO of Thor Equities, said in a statement Wednesday.
Headline

Mack & Ross on how the West was won

Orlando Rodriguez
by Orlando Rodriguez
Stephen M. Ross (left) and William L. Mack (center) join host Diane Brady at the 92nd Street Y. Photo Credit: Joyce Culver for 92Y By … Continued
Deals & DealmakersHeadline

Developers tell pols: Don’t treat us like fat cats

Sarah Trefethen
by Sarah Trefethen951
A trio of real estate titans called for national support of the president’s $60 billion Hurricane relief funding bill for New York, New Jersey and Connecticut this week. Noting that New York pays more in taxes than it receives in federal spending, they warned against hypocrisy on the part of lawmakers from other states that have received disaster relief funding in the past. ”New York really is all of America’s gateway,” said Thor Equity boss Joe Sitt. “Rather than looking at New York as some big, fat cat city, look at us as the feeder for the rest of the country.”
Construction & DesignHeadline

SJP Properties breaks ground on 500,000 s/f Pearson building

REW Staff
by REW Staff881
SJP Properties today broke ground on a new 500,000 s/f office and retail building that will house the US headquarters of the Pearson learning company. Waterfront Corporate Center III is located on the final site of a 26-acre waterfront, mixed-use master planned neighborhood in Hoboken, NJ. SJP Properties is developing the building in partnership with USAA Real Estate Company. Pearson, which earlier this year signed a 200,000 s/f lease at the property, will be the site’s lead tenant.
HeadlineResidential

Sandy changing the way New Yorkers look for homes

REW Staff
by REW Staff817
In the aftermath of Sandy, the term evacuation zone has replaced schools and parks at the top of New York apartment hunters wish list, according to brokers. “People will now ask things like, what zone is this in?” said David Maundrell, founder of Brooklyn-based real estate brokerage firm and website aptsandlofts.com, which features listing in Manhattan, Brooklyn and Queens. “This is just something New Yorkers didn’t think about before, even though we’d been warned. This is something that will be with us for a very long time.”
Deals & DealmakersHeadline

World watching as New York rebuilds

REW Staff
by REW Staff756
The star-studded ritual that is the NYU Schack Institute’s annual Capital Markets conference went on as planned last Wednesday, in spite of the devastation wreaked on the city by Hurricane Sandy and the snowflakes and strong winds of a nor’easter swirling outside. And when some of the city’s top developers gathered for the event’s culminating panel (“We are the Golden Apple,” it’s called,) they were eager to discuss the elephant in the ballroom. “Our industry is going to be at the forefront of how we reimagine this city, and it’s a big question,” said William C. Rudin, of Rudin Management Company. Once the humanitarian fallout of Hurricane Sandy has been addressed, the developers argued, the city should turn its attention to planning for future storms.
Headline

REW back in business

REW Staff
by REW Staff623
Real Estate Weekly’s editorial offices on West 22nd Street and production center in New Rochelle were shut down by Hurricane Sandy last week. But we are back in business today. We are producing our regular Nov.7 printed issue as well as a special post hurricane section we’re calling Back In Business
Deals & DealmakersHeadline

JLL set for New York expansion

Sarah Trefethen
by Sarah Trefethen
Jones Lang LaSalle plans to expand its New York and New Jersey brokerages by as much as 25 percent in the next three or four … Continued