Real Estate News from February 2012

  • Residents' Proposal for Memorial Sloan-Kettering Redesign Rejected By Gabrielle Hughes | February 13, 2012

    Plans for Manhattan’s Memorial Sloan-Kettering Cancer Center are remaining the same, despite pleas for a redesign of the outpatient surgery facility  by many Upper East Side residents. Those in charge of the project believe a significantly larger and more expensive replacement would violate basic hospital safety issues, and consequently go against the best interests of patients.

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  • Fashion Week Brings out Restaurant Deals in Lincoln Square By Justin Spees | February 10, 2012

    With the exception of a New York Giants ticker-tape parade, nothing brings out the New York City crowds like Fashion Week, which kicked off with a showing in the Chelsea neighborhood last Wednesday. Restaurants in the Upper West Side near Lincoln Center—the heart of Fashion Week—are capitalizing on the additional neighborhood population by offering cheap deals on prix fixe menus, in a promotional event called the “Fashion Plate Prix Fixe.”

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  • Metropolitan Museum of Art to Renovate Outdoor Plaza By Gabrielle Hughes | February 08, 2012

    Manhattan’s Metropolitan Museum of Art houses some of the world’s finest paintings, sculptures and drawings, and newly developed plans to renovate the exterior will make the institution a work of art in itself. The museum's last alterations took place nearly 40 years ago, and the iconic outdoor plaza situated along Fifth Avenue is this project’s primary focus. Various transformations along the four-block space are expected to significantly enhance the Upper East Side neighborhood.

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  • A Closer Look at the New Whitney Museum By Daniel Muhlenberg | February 07, 2012

    Everyone knows that downtown Manhattan is the most popular place to live in the borough. The Manhattan apartment listings tell us as much - Tribeca and SoHo are the most expensive places for apartment renters and buyers in Manhattan - but what they don’t tell us is how downtown Manhattan is establishing itself as the new center for the high arts, especially in the former industrial areas provide ample room and a fitting backdrop for innovative new architecture like Frank Gehry’s IAC building. We’ve already written about the ‘new museum mile’ - the stretch of art galleries along the High Line - but we didn’t take a look at its centerpiece: the Whitney Museum of American Art in the Meatpacking District.

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  • Economists Explain Manhattan's Skyline For the First Time By Daniel Muhlenberg | February 06, 2012

    In The Great Gatsby, F. Scott Fitzgerald famously said that, "The city seen from the Queensboro Bridge is always the city seen for the first time, in its first wild promise of all the mystery and the beauty in the world." There’s nothing else in the world like it, especially because of an unusual feature: its twin peaks are separated by the long stretch of low-rise buildings between Downtown and Midtown Manhattan. Conventional wisdom held that Manhattan’s skyscrapers were clustered in two distinct areas because the bedrock between Downtown and Midtown was too far down below the surface, making it difficult to build on. But that myth has officially been debunked.

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  • Green Building Codes Enhance City's Sustainability By Gabrielle Hughes | February 06, 2012

    Despite the fondness many New Yorkers have for this year’s curiously warm winter, government officials are pushing forward with initiatives to make city buildings more environmentally friendly.

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  • Construction on Futuristic-Looking 19 Park Place is a Go By Justin Spees | February 06, 2012

      Construction on a 21-story condo building at 19 Park Place in the Tribeca neighborhood is due to begin in the next few weeks, the Tribeca Citizen reports. This building, which is two blocks from City Hall, is noteworthy for two reasons: one, it’s very close to the hysteria-causing Park51, and was announced in October 2010, during the height of the “Ground Zero Mosque” controversy; and two, it looks like, well, just take a look at that rendering.

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  • Upper West Side Pushes to Protect Local Commerce By Gabrielle Hughes | February 03, 2012

    With residents of New York City’s Upper West Side taking note of the neighborhood’s steady decline in retail diversity, government officials have issued zoning proposals to stall the expansion of large chain stores.

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  • One World Trade Center Cost of One WTC Rises to $3.8 Billion By Daniel Muhlenberg | February 02, 2012

    From the beginning, One World Trade Center was never about money. It was about rebuilding in the face of tragedy and establishing a symbol of hope and resurgence for the city and the country. Now, after a decade of political snares, construction delays, and financing issues, One World Trade Center is finally nearing completion; 90 of its 104-stories are built, and it is set to finish construction in 2013 and open to tenants in 2015. When it is finally completed, not only will Lower Manhattan and the Financial District finally be whole again, but for many the ordeal of September 11th will, at least in some way, come to a close.

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  • Residential Construction Up in 2011, As Are Demolition Permits By Justin Spees | February 02, 2012

    The New York Building Congress released information on Monday showing that while commercial construction in Manhattan in 2011 had dropped from the previous year, construction on apartments in Manhattan had increased by 24%. Overall, contractors shelled out $2.9 billion for residential projects, including the storied Gotham West and Walker Tower renovations. Furthermore, the property research company Property Shark released a report this week showing that 4,092 building permits were issued in 2011, a considerable drop from the 4,810 issued in 2010, but that demolition permits increased, from 1,036 in 2010 to 1,117.

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