Real Estate News from July 2012

  • Opposition Inspires Change in NYU Plans By Yuan Feng | July 18, 2012

    NYU’s original plan for a Greenwich Village campus expansion is not sitting all too well with many residents of Greenwich Village apartments. In particular, the Greenwich Village Society for Historic Preservation, a non-profit organization, has decided to register this year as a lobbyist to oppose the development.

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  • Setbacks for NYC Bike-Share Launch By Gabrielle Hughes | July 17, 2012

    Don’t invest in a helmet just yet; government officials have just pushed back the start date of New York City’s bike-share program. Back in May, it was announced that New York would join cities around the world, with the initiation of a public bike system by the end of July. However, Citi Bike’s operator, Alta, has informed potential bike-share customers that the launch of the program has been postponed until August.

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  • New York City: A Golf Mecca? By Aby Thomas | July 17, 2012

    Oklahoma’s favorite son Will Rogers once said, “I guess there is nothing that will get your mind off everything like golf.” With New Yorkers famously known for having a lot on their minds as they traverse through the concrete jungles of their city, Manhattan apartment residents would be wise to go by Rogers’ words and try hitting a tee or two at the many golfing options available in the city. This might come as a shock to the average New Yorker living in a Tribeca tower or a Chelsea loft, but rest assured that New York City is very much a little golfing oasis.

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  • Manhattan Applauded for its Green Thumb By Stephanie Spencer | July 16, 2012

    Manhattan is taking its responsibility as America’s leading environmentally friendly urban city seriously as it continues discussions on how to make the metropolis even greener for its residents. Today and tomorrow, Mayor Bloomberg and the City Parks Alliance will host a conference entitled, “Greater and Greener: Reimagining Parks for 21st century cities.” The conference will converge at Manhattan to discuss future endeavors as they attempt to construct additional parks across Manhattan neighborhoods. Discussions will also focus on the effects future parks will have on the health and well being of communities.  

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  • Rooftop Gardens Blossoming in NYC By Yuan Feng | July 16, 2012

    In the sprawling urban landscape of New York City, you’d be hard pressed to find an area capable of sustaining a farm or growing a range of crops. But as residents of such a dynamic city, we‘ve certainly managed to find a way to do so. Rather than seeking out plots of unoccupied space on the ground, New York residents and companies have taken to the skies, starting full gardens on rooftops instead. In fact, New York has quickly become a true leader in the rooftop agriculture movement. And with the support of commercial agriculture interests, this trend will surely only continue as time goes on.

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  • Department of Transportation Unveils "6 1/2 Avenue" By Andrea Garcia-Vargas | July 16, 2012

    London has a Platform 9 and ¾. Now New York City has 6 ½ Avenue. From 51st Street to 57th Street—between, obviously, 6th and 7th Avenues—a string of several pedestrian sidewalks is now being categorized under this new name. Apartment residents of Midtown West will now see off-green signs announcing “6 ½ Avenue” along the pedestrian crosswalk. Even Google Maps has already christened as such.

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  • Alphabet City Changing By the Day By Stephanie Spencer | July 13, 2012

    Once rattled by crime and abandoned buildings occupied by the homeless, Alphabet City was one of Manhattan’s most disheveled locations during the 80s. Many residents didn’t see an upturn for the Lower Manhattan area, which many locals made it a point to steer clear of. However when Mayor Giuliani took office during the 90s, New Yorkers were pleasantly surprised to see a vast improvement. Suddenly streets were clean and safe enough for shop owners to establish stores for patrons to visit, and eventually developers caught on, realizing Alphabet City’s mass potential. It would have been unexpected, though, that Alphabet City would become one of Manhattan’s most expensive communities to live in, incorporating both lush convenience and an urbanely rugged environment reminiscent of the past.

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  • Bloomberg Wants New Skyscrapers To Surround Grand Central By Olivier Fitzgerald | July 13, 2012

    Looks like the big city is about to get bigger. With the Mayor’s time in office coming to a close, Bloomberg looks to make major additions to the Midtown area, particularly in the vicinity of Grand Central Station. Introducing his new rezoning plans at a Community Board meeting this past week, Bloomberg unveiled some serious proposals, including building multiple skyscrapers the size of the Empire State Building.

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  • NYC: Vacancy Rates Rise, But Rents Soar By Aby Thomas | July 13, 2012

    Recent reports in June reveal that while more Manhattan apartments are coming onto the real estate market, rents for all these apartments, from studios to three-bedrooms, continue to shoot up. While the median price of a rental apartment has now reached a staggering $3,125 per month (a rise of 7.9% when compared with the same period last year), the vacancy rates have shown a tiny but noteworthy rise from 0.69 percent last year to 1.01 percent in June.

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  • Google Propels Manhattan Real Estate By Stephanie Spencer | July 12, 2012

    Google can knowingly take credit for a slew of innovations that have assisted businesses in expanding by helping them easily connect over the Internet, but now they can evidently also take credit for raising residential and commercial value for Manhattan’s real estate market. Since Google’s $1.8 billion move to the Chelsea neighborhood in New York, the Silicon Valley giant has helped the neighborhood achieve a vast improvement in the average asking price of commercial rents, consequently causing an increase in the number of $4,000 a month rentals in the neighborhood according to StreetEasy. Surrounding areas like the Flatiron District and NoHo have also relished in the low vacancy rate, both commercially and residentially.

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