Real Estate News from November 2012

  • Winter Walks: The Best Way to Experience Manhattan By Joseph Lee | November 30, 2012

    December is almost upon us, and many New Yorkers are already dreaming of warm spring days. But if you can resist the temptation to hibernate in your Manhattan apartment, winter is one of the best times to experience New York City. The typically bustling streets grow calmer and more subdued with the snow and cold that comes with winter, allowing you to savor the beauty of the city. Three Manhattan locations perfect for a tranquil winter stroll are the High Line in Chelsea, Roosevelt Island, and St. Nicholas Park in Harlem.

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  • Local Businesses Flourish in the East Village By Laura Simmons | November 29, 2012

    The East Village have always been an artistic neighborhood rich in culture and history, one that is known for having a diverse community and vibrant nightlife. Well, it seems like the East Village has taken its identity to greater heights as East Ninth Street becomes the Fifth Avenue of small business. New Yorkers can find an array of highly curated vintage clothing and antiques at the many independently owned stores on East Ninth Street. It’s no secret that Fifth Avenue is home to some of the most upscale department stores where some of the finest shopping occurs. Well, the Small Business Saturday annual event is offering a hub of unique shops and boutiques with items that may not be found at Fifth Avenue’s Bloomingdales or Nordstroms.

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  • Midtown’s Holy Trinity Pushes to Profit From Rezoning By Angel Jiang | November 29, 2012

    Ever since the Bloomberg administration approved the midtown rezoning proposal, developers have anticipated the likelihood of building world-class skyscrapers catering to globe-trotting corporate and residential interests alike. Midtown apartment and office buildings may already seem densely packed, but the protection of highly concentrated architectural landmarks have urged strict zoning laws until the recent rezoning proposal. Indeed, the combination of non-skyscraper and skyscraper construction has led to an uneven skyline with pockets of ambiguous air space in between--including the millions of feet above historic buildings. The trinity of landmarked churches in Manhattan’s midtown, St. Patrick's Cathedral, St. Bartholomew's Church and Central Synagogue, claim roughly 2 million square feet of air rights; with Bloomberg’s rezoning initiative, these historic buildings, which constantly require restoration, may be able to finally able to profit from modern construction’s ascendancy.

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  • Bloomberg’s MillionTrees NYC Project Succesfully Underway By Liam Delaney | November 28, 2012

    New York City is getting greener every day thanks to Mayor Bloomberg’s project MillionTrees NYC. MillionTrees NYC is attempting to plant and care for one million new trees across all five boroughs within the next decade, the stated purpose being for New Yorkers to benefit from cleaner air, cooler streets, and, of course, their inherent beauty. While the goals of this project are a great example of sustainable development in New York City, the true allure of it lies in the volunteer opportunities to plant trees, take stewardship over them, and educate communities on environmental care.

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  • Fun and Frolic at the Rockefeller Center Christmas Tree Lighting Ceremony By Aby Thomas | November 27, 2012

    With Christmas just a month away, New York City seems to be gearing up for the festival with all the splendor and gusto it can muster. Holiday markets have been popping up all over the city, decorative lights are being hung along streets, and people seem to have already started on their Christmas shopping: these are just some of the signs that city is readying itself up for all the festivities that this time of year brings with it. But nothing seems to declare the start of the Christmas season better than the Christmas tree lighting at Rockefeller Center—and this year, it is happening on Wednesday, November 28, 2012.

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  • A Skyscraper Next to Grand Central Terminal? By Liam Delaney | November 26, 2012

    The newest proposed project for Midtown East is a giant office building only a single block away from Grand Central Terminal. Spearheaded by the SL Green Realty Corp. and to be designed by architecture firm Kohn Pedersen Fox Associates, the new project is in the planning stages largely due to the Bloomberg administration’s push to rezone the area around Grand Central. Under the current zoning today, about 1 million square feet would be allowed. If Bloomberg’s rezoning plan goes through it would give SL Green the rights to build a tower nearly 1.4 million square feet in size. What more might the new zoning laws do to the neighborhood around Grand Central should they pass?

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  • Best Spots to Watch the Macy's Thanksgiving Day Parade in Manhattan By Aby Thomas | November 21, 2012

    While Thanksgiving for most of us involves stuffing our faces with a ridiculous amount of great food, New Yorkers have something more to look forward to than just that—the Macy’s Thanksgiving Day Parade. Celebrating its 86th year, the Macy’s parade is a cherished New York City tradition, with more than 3 million people braving the cold winter weather every year to watch it along the parade route in Manhattan. Besides them, the amazing floats, balloons and performers in the parade are seen by more than 50 million people live on television, making the parade the largest celebration of its kind. But this year, the parade is changing its route—read on to find out how the path of the balloons and floats have changed.

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  • Chinatown Rising: The Newest Up and Coming Neighborhood in Manhattan By Liam Delaney | November 21, 2012

    Chinatown is generally known around the world for its restaurants, gift shops, and open-air food markets. What Chinatown is not typically known for are it’s residential neighborhoods. However, the housing stock in this up and coming neighborhood is no longer being sought after by only Chinese-Americans and Chinese immigrants. Increasingly other people are being drawn to its proximity to other neighborhoods, such as the trendy Lower East Side, SoHo, and Tribeca.

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  • SPURA Set to Transform the Lower East Side By Angel Jiang | November 20, 2012

    If you’ve ever caught the view from the Williamsburg bridge of the area just west of Delancey and Essex, the Seward Park Urban Renewal Area (SPURA) is likely a memorable image. All approvals are through for one of the largest redevelopment projects in Manhattan to date--an ambitious urban renewal experimental playground spanning 1.5 million square feet of mixed-used area in the Lower East Side. Six acres of vacant land, a jarring portion within the urban complexity of one of Manhattan’s most spirited and disputed areas, will include provisions for 1,000 units of mixed income housing, 40% commercial space, a large public park, and underground parking. New Yorkers, prepare yourself for a flood of creative renderings once NYC’s Economic Development Corporation (EDC) issues an official Request for Proposals in January of next year.

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  • Hudson Yards: A City Within A City By Aby Thomas | November 20, 2012

    “In a place where dreams and ambitions are limitless, land is not.” That line, taken from the New York City Department of City Planning’s website, is perhaps the best way to describe why the Hudson Yards Redevelopment Project is so important for the growth and sustenance of New York—or, more specifically, Manhattan—as the place to be for businesses and offices not just in America, but around the world as well. With Manhattan literally running out of space for new office construction, Hudson Yards, the area bounded by West 42nd and 30th Streets from Eighth Avenue to the Hudson River, seems to be the borough’s best bet for its development needs.

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