Real Estate News from April 2012

  • Fight Over UES Historic District Just Getting Started By Daniel Muhlenberg | April 10, 2012

    Despite lack of official confirmation, Manhattan apartments residents on Park Avenue in the Carnegie Hill section of the Upper East Side are already mounting a preservationist campaign to block a new construction project. Upon learning that the Philadelphia-based development company Toll Brothers closed on the purchase of 1110 Park Avenue, neighbors sprung into action by writing multiple letters to the Landmarks Preservation Committee advocating the extension of the Carnegie Hill historic district from 86th to 96th Street. If the LPC were to do so, Toll Brothers wouldn’t be able to build on the site, but time is not on the side of these Manhattan apartment owners.

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  • The Uncertain Legacy of Mayor Bloomberg, Part 1 By Daniel Muhlenberg | April 10, 2012

    Truly, now is a great time to live and work in New York City. The recession was a blip. The rental apartment market is soaring. Buyers from Brazil, China, and Russia are shelling out millions to purchase luxury apartments in Manhattan. Employment is nearing the 1969 peak of 3,797,700 jobs. And, to top it off, four different reports in the past five months have ranked us as the number one business center in the world. In many ways this success is the handiwork of one Michael Bloomberg, New York City’s mayor since January 1st, 2002. His business-first philosophy has not only sustained the low crime rate that he inherited from Rudy Giuliani – with the help of NYPD Police Chief Ray Kelly, the crime rate has fallen for almost a dozen years - it has diversified New York City’s economy and created new sources of revenue for the city.

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  • Times Square As Modern Art Gallery By Daniel Muhlenberg | April 09, 2012

    For over 50 years, the iconic collection of electronic billboards that hover over Times Square have left an indelible impression upon countless groups of tourists and embodied the attraction of Manhattan. While residents of Manhattan apartments are harder to impress than their borough's many visiters, they have good reason to brave the crowds and visit this famed stretch of Midtown Manhattan this summer. On June 18th, the nonprofit Chashama will transform this hub of commerce into a modern art gallery by displaying artwork on the big signs over Times Square’s pedestrian malls.

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  • Vacant UWS Theater to be Reopened as a Cinema Drafthouse By Gabrielle Hughes | April 06, 2012

    Despite its unfortunate closing in 2005, New York's landmark Metro Theater is ready to go back into business. The cinema was originally constructed in 1933, and amidst the variety of properties within the highly-residential Upper West Side, the venue, located at 2626 Broadway between West 99th and 100th streets, is once again ready to serve local movie lovers.

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  • Nearly 50 Years Later, Seward Park Development Project Gets Going By Daniel Muhlenberg | April 05, 2012

    It’s been a long wait. City officials have tried to develop Seward Park – a 9-parcel site adjacent to the Williamsburg Bridge on Manhattan's Lower East Side - into a mixed-use commercial and residential development since 1965, but for various reasons those plans for new construction stayed dormant (as did the site). But after decades of waiting, the Seward Park Development Project, also known as SPURA, is finally moving forward. The city officially began the public approval process by certifying the Uniform Land Use Review Procedure (ULURP) on March 26th of this year. Community Board 3 has 60 days to approve their plan, and if they do, the Lower East Side will be permanently changed.

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  • Construction of High Line's Final Section Could Begin This Summer By Daniel Muhlenberg | April 04, 2012

    Manhattan’s most popular new park may be expanding earlier than expected. Construction of the third section of the High Line, which will stretch from West 30th Street to West 34th Street between 10th and 12th Avenues, may began as early as this summer. The city put out a request for proposals to manage the construction of the last section of the High Line on Monday morning, and companies have until April 20th to formulate and submit a plan. If everything goes well, preliminary work could begin on July 15th. The sooner this is completed, the sooner that the residents of luxury apartments near this Manhattan park will see their neighborhood transformed into one of Manhattan's hottest areas.

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  • Randall's Island: The Cutting Edge of Green Technology By Daniel Muhlenberg | April 03, 2012

    Randall’s Island seems like an unlikely host for the most innovative collection of green technologies in New York City’s history, but this Manhattan island will soon be the center of a unprecedented plant that combines solar, wind, and tidal energy. The stakes may be low - the plant will be used to power lights around Randall’s Island, most notably on the baseball diamonds - but, if it works, the venture could still permanently change the quality of life for residents of Manhattan apartments.

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  • Meet the Next Generation of NYC Cabs By Daniel Muhlenberg | April 03, 2012

    The new look of Manhattan is getting a cab to match. Timed to coincide with the New York Auto Show, the New York City cab of the future will be unveiled today when the city debuts the Nissan NV 200. These aren’t just any old cars that are being subbed in to replace the current fleet though. Nissan designed the NV 200 from the ground up for the sole purpose of being a NYC cab. Generally speaking, an international car company like this doesn’t specifically design a car for one metropolitan market, but after winning a 10-year contract in the City’s Taxi of Tomorrow Contest to be NYC’s sole manufacturer of their 13,000 cabs – a contract estimated to be worth $1 billion – Nissan’s designers tailored the NY 200 to meet the needs of New York City apartment owners and renters.

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  • New Tavern on the Green Begins Taking in Offers By Gabrielle Hughes | April 02, 2012

    Bidders are preparing to take on the newly renovated Tavern on the Green, as two restaurateurs submitted offers to the New York City Parks Department for a stripped-down version of the restaurant last Friday. Once a go-to destination for fine dining and special occasions, Tavern on the Green is being transformed into a less formal, moderately priced restaurant for the Upper West Side neighborhood.

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