Wired City

Landlords Can Go Green and Save Green with OnForce Solar Photovoltaics

DSCN6549-402x293

A globally trending energy solution known as Solar Photovoltaics has been helping reduce energy expenses for property owners, business owners and landlords citywide and nationwide.

With Con Edison’s electricity rates notoriously high—it’s more expensive here than anywhere else in the country—it’s a good idea to bring in a company like OnForce Solar, which helps landlords lessen their energy bills while going green at the same time. Read More

Post-Tropical Storm Sandy

Building Congress to Propose New Post-Sandy Storm Regulations

Sandy_Oct_25_2012_0400Z

The New York Building Congress will issue a series of recommendations today that would go “a long way” toward mitigating the risk associated with future storms like Hurricane Sandy.

A task force made up of 43 local experts found that insufficient power and telecommunications reliability, “uneven emergency response,” vulnerable infrastructure and antiquated building systems contributed Read More

Sales Beat

Capstone Equities Pays $14.25 M for Retail Development and Potential Air Rights Play

Flatbush_Avenue_IMG_0665

Capstone Equities has scooped up a prominent retail corner location at 1-9 Flatbush Avenue in Brooklyn, with plans to reposition the retail and potentially use the air rights on the current structure to tack on a residential component, sources tell The Commercial Observer.

City records confirm that the firm paid $14.25 million for the two-story property, and a source familiar with the company said the plan is to draw in a stable retailer then assess the options to use the 50,000 square feet of air rights to build residential units – and possibly dormitories. Read More

Year in Real Estate

Fast & Furious: The minute-by-minute, behind-the-scenes negotiations that led to this year’s F.E.M.A transaction

New York And New Jersey Continue To Deal With Aftermath Of Hurricane Sandy

The whirlwind negotiations between the Federal Emergency Management Agency and Muss Development to create an impromptu relief outpost in Queens in the days following Hurricane Sandy’s descent on New York would not have happened had it not been for one of the real estate industry’s leading dynasties.

In a deal that would later come to symbolize the overall dedication of the city’s real estate titans, government officials and executives banged out terms for 200,000 square feet of temporary space at the Forest Hills Tower in a mere five days, a minor miracle in the world of office leasing. Read More

Post-Tropical Storm Sandy

Silverstein Properties Reopens 120 Wall

120 Wall Street (Credit: Silverstein Properties)

Silverstein Properties reopened 120 Wall Street Wednesday morning for the first time since Hurricane Sandy flooded the 600,000-square-foot building’s basement and damaged electrical distribution equipment.

The company pumped more than one million gallons of water out from the building’s basement and removed contaminants before methodically checking all base systems to get them back up and running, Jeremy Moss, the firm’s vice president of leasing told The Commercial Observer.

“Since the storm we’ve been working around the clock to get the building up and running and to bring tenants back – we succeeded this morning at 8 a.m,” Mr. Moss said. Read More

The Sit-Down

The Power Generators: Douglas and Jody Durst on Generating Their Own Electricity at 1 Bryant Park and 1 WTC

Jody Durst. Illustration by Paul Kisselev

Douglas and Jody Durst of the family-owned Durst Organization are well known in the real estate industry for their firm’s progressive stance on environmentally sustainable building practices. Last week, the cousins spoke to The Commercial Observer about co-generator power, a revolutionary, albeit costly, method of generating electricity in buildings they own at 4 Times Square, 1 Bryant Park and, soon, 1 World Trade. Read More