Manhattan Market Report
Ariel Property Advisors has announced the sale of two adjoining six-story multifamily properties at 556-562 West 126th Street for $15 million, or $384,615 per unit.
The buildings, with a combined 36,599 square feet, feature 39 units, with 36 four-bedrooms, two one-bedrooms and one commercial unit and are located steps from Columbia University’s new 17-acre Manhattanville campus.
Between the Columbia Read More
The Lawyers You Call
Though it still makes up just two percent of the Manhattan office market’s total inventory, a number of significant deals have caused a surge in the education sector’s Manhattan footprint.
A report from CBRE attributes the 47 percent jump in office space leased by the sector – between 2005 and November 2012 – to a growing residential population, increases in enrollment at universities, campus expansions, greater availability and lower asking rents in sections of Midtown South and Downtown.
Jay Neveloff is a partner at Kramer Levin Naftalis & Frankel whose practice is focused on real estate and other commercial transactions. His past and present client list includes Starwood Hotels, the owners of Starrett City, New York Life Insurance Co. and the Trump Organization. Mr. Neveloff spoke to The Commercial Observer last week about how land-use issues have evolved in the city over the past 10 years.
Columbia’s prez, Lee Bollinger, almost breaks a sweat when he talks about the school’s plans to move ahead with expansion plans, reports Crain’s. “A note of impatience frequently creeps into the voice” of the ever-polished Mr. Bollinger when he talks about Manhattanville, says the article.
Apparently the former law prof found himself nonetheless Read More
State Senator Bill Perkins is apparently not happy about the state’s choice of consultants.
One consultant, specifically: AKRF, the New York–based firm that has established itself as the unchallenged king of environmental review in the city and state, dominating the field of government contracts.
The source of angst for Mr. Perkins is Read More
It’s been a pretty good month for Nick Sprayregen.
On Dec. 3, the owner of a set of warehouses in the footprint of Columbia University’s planned West Harlem expansion, with his lawyer, Norman Siegel, were handed a highly unexpected victory in a suit that challenged the use of eminent domain for the project.
And Read More
Harlem state senator asks Paterson for moratorium on land takings, no appeal in Columbia case. Read More