Governor Andrew Cuomo administration and park officials have reportedly struck a tentative deal with a developer to transfer unused development rights from Pier 40 in return for more than $100 million to rehabilitate the former cargo terminal.
A number of real estate executives have come out today in support of Mayor Bill de Blasio‘s plan to tax high-earners to fund universal prekindergarten and after-school programs, representing the latest group of executives to join a grassroots campaign called UPKNYC, Commercial Observer has learned.
A jubilance not seen in years permeated the Real Estate Board of New York’s 118th banquet following a year characterized by several major victories for the industry, soaring rents and widespread development across the city. The politician-studded crowd at the Hilton included Governor Andrew Cuomo and new Mayor Bill de Blasio, along with a consortium of new faces in city government. All were treated to a REBNY banquet that once again boasted the feel, charm and spirit of the boom era’s glory days. Below are some facts and tidbits:
The Real Estate Board of New York (REBNY) rolled out the red carpet for its 118th annual banquet held at the New York Hilton on January 16. The exclusive event, touted as the industry’s most important networking event of the year, drew in many of New York City’s most influential industry leaders, elected officials and hundreds of the city’s top real estate professionals to celebrate 2013’s accomplishments and opine on the outlook for 2014, which promises to be another exciting year in real estate. Award winners at this year’s REBNY banquet were: Stephen L. Green, Chairman of the Board, SL Green Realty Corp.; Kenneth Fisher, Senior Partner of Fisher Brothers; Joel I. Picket, Chairman and Chief Executive Officer for Gotham Organization, Inc.; Robin Abrams, Executive Vice President of The Lansco Corporation; Thomas L. Hill, Senior Vice President of Boston Properties’ New York Property Management Department; and Robert C. Fink, Director of Leasing for The Winter Organization.
After three years and $1 billion, Madison Square Garden officials today unveiled the third and final phase of the arena’s transformation, a spectacular attempt to blend the venue’s rich history with modern amenities.
Flanked by Governor Andrew Cuomo, Madison Square Garden Chief Executive Officer Hank Ratner and The Captains, Willis Reed and Mark Messier, Executive Chairman James Dolan introduced the changes to a crowd of hundreds inside the arena’s newly redesigned 7th Avenue entrance.
“I’m a very proud New Yorker today,” Mr. Dolan declared to applause before beginning his prepared remarks.
New York Attorney General Eric Schneiderman is reportedly leading an investigation into the 1986 sale of the rights to the World Trade Center name for just $10.
The Port Authority of New York and New Jersey sold the naming rights to outgoing executive Guy Tozzoli for use by his nonprofit World Trade Centers Association, which Read More
Global creative and strategic agency Droga5 will be trading in their Noho headquarters and taking the plunge downtown to 120 Wall Street.
The company follows nearly 400 companies from various sectors that have relocated to Lower Manhattan since 2005, Downtown Alliance noted. 120 Wall Street, owned by Silverstein Properties, is currently undergoing a capital improvement program to modernize its facade, lobby, elevator cabs in effort of attracting even more firms to the building.
Just days after Governor Andrew Cuomo introduced legislation that would authorize three new Upstate New York resort casinos, Foxwoods Resort Casino and Muss Development have signed a partnership agreement to build a destination resort style casino and hotel in Liberty, New York.
The presidents of the respective companies, Scott Butera and Joshua Muss, have been Read More
When Aaron Jungreis sought a buyer for the Bossert Hotel at 98 Montague Street in Brooklyn Heights last year, a long list of obstacles stacked up.
The off-market deal meant potential buyers had limited access to the site. Complicated zoning meant the Board of Standards and Appeals would be thrown into the mix. And competition Read More
As forecasters became more and more certain that a monster storm named Sandy was barreling toward Manhattan in the 48 hours leading up to its landfall on Monday, October 29, Real Estate Board of New York President Steven Spinola lay in a hospital bed recovering from a sudden medical emergency.
But the hospital stay didn’t Read More
As the year draws to a close, I usually dole out holiday wishes for those who are either directly or indirectly related to the commercial real estate industry in New York City.
However, in a year in which politics has been such a central theme, this year’s focus will take stock of how our elected officials have performed and what Santa should give them.
“The governor is on the line,” a top real estate executive recalled his wife telling him early one morning in his suburban home several weeks ago.
He remembered feeling a small spasm of panic as he cursed aloud—without realizing his wife was on the other side of the door holding the receiver out.
The man put the phone to his ear. “That’s what you say when I call?” Gov. Andrew Cuomo said in jest.
After his stint in Washington running the Department of Housing and Urban Development, it is easy to guess that Andrew Cuomo would rather live in the White House than in the New York State House.
If this is true, his pension reform battle might be his most important initiative yet.
World Trade Center
It’s the day after the Port Authority released an audit of the agency and Chris Ward is sitting calmly in his new office above Bryant Park.
Coming off of more than three years as its top New York executive, Mr. Ward has no illusions how the bi-state agency is run.
The audit last week cited mismanagement at the Port Authority and spiraling costs at the World Trade Center site, findings that aren’t exactly revelatory. Swelling budgets have been a long-running problem at the complex site and criticisms have been lobbed before at the sprawling agency’s byzantine structure.
The frequent turnover at the Port Authority of New York and New Jersey’s top position has helped contribute to escalating costs at the yet-to-be-completed World Trade Center site, according to a committee report released yesterday.