There’s money to be made in moving land to the right place. Large-scale reclamation projects made land more valuable in places like Manhattan and Boston, the Wall Street Journal reported. Battery Park City, for example, was built in part on sand shipped from Staten Island in the 1970s. The same dirt that was roughly $350 per square foot in Staten Island became worth an average of $1,431 per square foot in the Manhattan neighborhood. Similarly, […]
Sheepshead Bay is located as far south into Brooklyn as one could get, nearly an hour’s train ride from Manhattan. But its distance from the city’s epicenter has not stopped the borough’s development boom from grabbing hold of the neighborhood. Glitzy new residential projects are helping reshape the Brooklyn outlier, including a 28-story project on Sheepshead Bay Road from AvalonBay Communities and Muss Development, as well as a pair of projects from Rybak Development […]
Images (L to R): Summit, 333 Grand Street, Astor Broadway and Otto New Rentals Debut in Williamsburg from $1,999/Month at 150 Union Avenue [link] New No Fee Rentals Debut in Astoria; Live at Astor Broadway from $1,999/Month [link] Otto Greenpoint Debuts; Brooklyn Rentals at 211 McGuinness Boulevard from $2,339/Month [link] Live at Lyric: Upper West Side Rental Offers $1,500 Gift Cards with New 2-Bed Leases [link] Jersey City Rental Debuts at 333 Grand Street; Luxury 1 – 3 Bed Homes Offer 1 Month Free [link] Long-Awaited Rental Tower at 222 East 44th Street Dubbed ‘Summit’ to Debut This Summer [link] […]
Boaz Gilad’s Brookland Capital had a rough week in Tel Aviv. Over the course of two days, the company’s bonds on the Tel Aviv Stock Exchange lost 15 percent of their value, tanking into junk-bond territory. The price fell on Monday, nosedived on Tuesday, and ended the week with a loss of 8.6 percent. “It’s the cost of being a public company and has nothing to do with the strength of our company,” Gilad told […]
Paul Kanavos’ Flag Luxury Group landed a $250 million loan for a planned Ritz-Carlton hotel in NoMad. The building will be constructed on two adjacent parcels with the addresses 1185 Broadway and 29 West 28th Street. Flag Luxury filed permits for the property in 2016, with plans calling for a 164,400-square-foot building with 145 rooms. Construction is currently underway. The latest Department of Buildings filings for the building are for the installation of underground plumbing […]
Thor Equities has relinquished its ownership of 1231 Third Avenue, giving control of the building to SL Green Realty. The real estate investment trust had held a mezzanine loan against the building, although it was unclear how large this loan was and how long Thor had been in default on it, sources told Crain’s. SL Green also holds debt against Thor’s retail buildings at 597 and 590 Fifth Avenue. Thor had purchased the building at […]
James Davidson, 68, is a partner at SLCE Architects’ New York and London offices. The firm ranked as the city’s most prolific architect over the past five years, having worked on nearly 20.7 million square feet of new buildings, a March analysis by The Real Deal showed. SLCE often serves as an executive architect on projects designed by so-called starchitects — including Bjarke Ingels, Norman Foster and Robert A.M. Stern — but two-thirds of its […]