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August 2013

August 2013 » Market Analysis » NY New Developments

August 2013: New York New Developments


New York New Developments

Brookfield Office Properties has begun construction of a bridge 120,000 square feet for its Manhattan West project. Brookfield will be the first platform on Amtrak rail yards between ninth and 12th avenues.

Time Warner has agreed in principle to move in 80-story skyscraper related companies planned for yards at the 10th Avenue and West 33rd Street, capping weeks of speculation on the movement of the media company in Hudson Yards, IMG Worldwide

extend its lease at 304 Park Avenue South. And will now occupy 72,080 square feet. The lease also increased its initial term of 10 years to 15 years.

Lincoln Center is undergoing a transformation with two new projects nearing completion in its southern half, along West 62nd Street. The two new projects are THENEW law school and dormitories designed by Pei Cobb Fried and Partner and a 54-story residential tower, developed by Glenwood Management and designed by the Stephen B. Jacobs Group, 160 West 62nd Street . Photos Durst Organization leased 50,000 square feet at 205 East 42nd Street United Way. Durst nonprofits under two years ago. First, the developer went after the OK state to convert the upper floors of the 21-story, 530,000 square meters of construction in August 2013-manhattan-statisticsrate-estate interests condominium; Then he began to market the space to non-profit that get a break of about 15 percent of their property taxes. Photos Near the retail space 15,000 square feet, with 100 feet of frontage on Madison Avenue and 74th Street is currently marketed asking rents of up to $ 1,200 per foot. The space at 935 Madison Avenue, which is under construction, will occupy the ground floor and the bottom of a new condominium project conducted by a contractor health and investor level.

Revisions to the New York City Department of Planning of the proposed rezoning Midtown East upset community groups, restaurateurs and owners are concerned that the plan was rushed and could significantly increase the density of the neighborhood. The city plan would rezone a section of block 70 to allow larger buildings. The changes allow developers to spend 20 percent of newly built for residential use skyscrapers, and enjoy more air rights buildings historic monument. Community Boards 1, 4, 5 and 6, which covers the area, remain opposed to it, as does the Municipal Art Society. The new proposal would St. Patrick's Cathedral, the Church of St. Bartholomew and Central Synagogue sell and transfer unused development rights to a wider range of sites than before. Photos

Hospital New York-Presbyterian lack of sufficient funds for its $ 1,000,000,000 expansion plan approved by the state, and remove the hall of motherhood project. The ambulatory care center on York Avenue, between East 68th and 69th streets will not be affected. The hospital will include 12 operating and 12 endoscopy rooms, and private rooms for mothers and newborns.

St. John University is a short walk to sign a lease for two floors of 400,000 square feet base 51 Astor Place in Midtown South. Filmography The Port Authority is trying to find a tenant to replace the Conde Nast 4 Times Square Durst Organization. To attract Conde downtown at 1 World Trade Center, the Port Authority agreed in 2010 to repay Conde worth four years of rent left on its lease 800,000 square feet at 4 Times Square. The MTA must give Durst a new tenant to pay the market rate below the market rather than the offer of Conde.

Rockpoint Group is in contract to acquire a stake of 49.5 percent in two Fisher Brothers Midtown office towers for $ 550 million .Rockpoint also assume $ 1 billion debt two properties: 1, 9 million square feet in 1345 Avenue of the Americas and 1.1 million square feet of 605 Third Avenue, bringing the price to $ 650 per square foot. The tower at 1345 Avenue of the Americas includes Ziegfeld Theather, while the tower at 605 Third Avenue comes with a six-story garage that is ripe for residential development. The fishermen are likely to increase their participation in the site and build a thin residential tower of about 250,000 square feet. Filmography A group of homeowners retail developers and Adjmi family filed plans to add four stories to two -story the structure at 529 Broadway, which bought in December for a record at $ 147.9 million Soho Filmography. a giant real estate investment will have to wait to take control of a site for mixed-use development in Murray Hill, now that the business owner has filed for bankruptcy. The buyer of the property is Centurion Realty, the company behind the recent acquisitions of both Soho 40 Mercer Street and 103 Prince Street.

Rockefeller University on the Upper East Side is preparing plans for growth. Rockefeller wants to build a new facility on a bridge school would be built on the FDR drive. The University plans to build two small buildings on a platform on the road along the East River. There will be a research building with two floors measuring 160,000 square feet with a landscaped green roof and a conference center. The platform will extend roughly from East 64th Street to East 68th Street. Small buildings would not impede view or from Manhattan, nor do they extend the size of the university in terms of personnel or activities.The two-story building will actually be integrated into the platform, so the roof is level with the rest of the campus. This will create a large quad without taking up space on the expanded campus. That the centers of the oldest research will be replaced or upgraded yet to be determined.

Larry Silverstein has a tentative agreement with the advertising agency for GroupM office space in three World Trade Center, opening the way for the construction of 80-story Lower Manhattan skyscrapers. GroupMill take over 500,000 square feet in the tower of 2.5 million square feet in a 20-year contract. The two sides signed a term sheet and should have a lease completed by year end. The major agreement will Silverstein Properties to move forward with securing $ 1.3 billion in Liberty Bond financing, supported by the Port Authority, to build the tower, the third set to rise on the site of the former World Trade Center. GroupMintends consolidate its offices in 9 floors below 3 World Trade Center at the end of 2016

A proposed mega-mall west of Citifield is progress.Queens Borough President Helen Marshall gave his blessing solid at 1.4 -million square foot shopping center on what is currently the baseball stadium parking. Marshall, Community Board 7 mirror, called for local hiring and increased intake advance the development criteria. The project, a joint venture with Sterling Shares and the Related Co. It would allow the transformation of a run down and underused in a dynamic full-time retail, entertainment and residential community. Most

$ 3,000,000,000 model redevelopment Willets Point (a host of uses, including 2500 residential units and commercial space and retail) has been approved by the Council in 2008, with the approval of Marshall the shopping center project now heads to the Planning Commission of the city, the last step before a vote of the city Council.

Photos l + M Partners development plans to transform a warehouse of 40,000 square meters in front of his Northside Piers project in Williamsburg into a mixed-use building. The Company has filed an application with the Department of Buildings for a seven-storey building 164 units at 149 Kent Avenue, near North 5th Street.
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