Hockey players and ice skaters tired of playing third or fourth fiddle to the city’s other premier sports may rejoice – the world’s largest indoor ice facility is coming to the Bronx.
Mayor Michael Bloomberg announced plans yesterday to transform the landmarked Kingsbridge Armory into a 750,000-square-foot ice sports facility with nine year-round indoor regulation-size hockey rinks, and athletes on hand for the announcement said the facility will change the face of ice sports in the city and provide hope for the dreams of future Olympians.
“The Kingsbridge National Ice Center will change the sport in the metropolitan area,” said New York Rangers legend and National Hockey League Hall of Famer Mark Messier. “As a New Yorker, I know it will also change this city, providing invaluable educational and athletic opportunity to thousands of young people, and transforming the Bronx into the new center of ice sports in the United States.”
Joseph Chetrit is in contract to purchase the 1.5-acre former Cabrini Medical Center site at Second Avenue and East 19th Street, The Wall Street Journal reported today.
The Chetrit Group and its partners have agreed to pay more than $150 million for the five-building complex owned by Memorial Sloan-Kettering, sources familiar with the deal confirmed with The Commercial Observer.
The Journal noted that Mr. Chetrit is purchasing the property with the same group of investors that he bought the Sony Building with, which included David Bistricer and put the man at the helm of Clipper Equities on the map among commercial real estate’s elite.
Developers broke ground at 7 Bryant Park yesterday, with a consortium of public officials including Mayor Michael Bloomberg gathering to pitch the trophy office tower as a boon for the city.
Politicians are touting the planned 28-story, 470,000-square-foot steel and glass tower, slated for completion in the first quarter of 2015, as a magnet for good jobs, talent and companies.
“The best days are still to come to Bryant Park – a place the city has worked hard to bring roaring back to life,” Mr. Bloomberg said at the ceremony, adding that the project will bring “more top-tier, cutting-edge commercial space, and more leading companies and their tax revenue to Midtown Manhattan.”
A mixed-use, rent regulated building across the street from the Fort Tryon Park at 4740 Broadway has been sold for $11.3 million in the Inwood neighborhood, The Commercial Observer has learned.
The six-story building boasts great upside, given its low rents and proximity to the notable neighborhood amenity, situated along the Hudson River. The property contains six commercial units and 68 residential units — 62 rent stabilized units, five rent controlled units, and one super’s unit.
“This property has tremendous potential due to its extremely low residential rents and fantastic retail corner location,” said Massey Knakal’s Robert Shapiro, who exclusively handled the transaction.
Post-Tropical Storm Sandy
The city announced today that it is implementing new measures that will stretch current zoning codes in order to help property owners update buildings to meet new flood standards in the wake of Hurricane Sandy — and in the face of climate change.
The measures will allow home and building owners to rebuild destroyed properties and meet new safety standards. They are also intended to limit the cost of future federal flood insurance premiums by better protecting properties in flood-prone areas.
“We are beginning the process of updating our building code and zoning regulations so that new construction meets standards that reflect the best available data about flood and climate risks,” said Mayor Michael Bloomberg in a statement. “This is particularly important for homes and businesses damaged or destroyed by Hurricane Sandy – and the rules we are putting in place today will enable them to rebuild and re-open safely.”
Tourism Booms Again
The city logged another record-breaking year for tourism in 2012, with 52 million visitors helping to create $55.3 billion in economic impact, Mayor Michael Bloomberg announced on Monday.
The new record – made up of 41 million domestic and 11 million international visitors – reflected a 2.1 percent increase over 2011, achieved despite the impacts of Hurricane Sandy.
Year in Real Estate
FEMA spokesperson William Rukeyser described the ad-hoc, jumbled feel of the company’s impromptu space in the Forest Hills Tower like a scene from a hard-hit neighborhood, with hanging wires, antennas strapped to the ceiling, Post-It notes and sheets of paper with various instructions scattered about, and impromptu folding tables holding printers and other office equipment. Most seemed at a loss for words when assessing damages.
“It’s—It’s—It’s just a mess,” Durst Organization spokesperson Jordan Barowitz told The Commercial Observer less than a week after the storm hit, struggling to describe the destruction in Lower Manhattan.
Year in Real Estate
The city’s aging population, a drive for state-of-the-art facilities and strong hiring across the health care industry prompted unprecedented growth in leasing activity in the health care sector across the five boroughs in 2012.
Memorial Sloan-Kettering, Mt. Sinai, Montefiore Hospital and Inventa Health were among the dozens of hospitals and medical companies to announce bold new initiatives to expand their footprints in the city in 2012, and those developments are only a sign of what’s to come, brokers and analysts predict.
The ING New York City Marathon-that-wasn’t had something of an ironic impact on the city’s luckier retailers.
There’s no question that those hit heavily by the storm have a long road ahead, especially Downtown, where many stores closed for days and others remain closed and damaged.
Mayor Michael Bloomberg finally called the storied marathon off on Saturday, but not before many of the 47,000 registered marathon runners were already in the city for the race planned for Sunday.
World Trade Center
Otherwise known as “Site 5″, the land, where the Deutsche Bank building once stood, could be sold for upwards of $200 million. In the new accord the Lower Manhattan Development Corporation must honor a 2006 agreement by handing over Site 5 to the Port Authority, in exchange for the title to the 8 acres the museum and memorial take up on the World Trade Center site, Reuters reports.
Mayor Michael Bloomberg, along with the the city Department of Sanitation and the state Department of Environmental Conservation, have been formally sued by a group lead by State Assemblyman Micah Kellner (D-Upper East Side/Yorkville/Roosevelt Island) aimed at putting an end to the proposed East 91st Street Marine Transfer Station.
The station, which has been in the planning stages for 10 years and would collect waste in place of shipping Manhattan’s trash to New Jersey, had been largely criticized by residents for possibly causing unsafe and unsanitary living conditions for the Upper East Side. The biggest concern has been the Marine Transfer Station’s proximity to the Asphalt Green recreation center, which offers child-friendly amenities like a soccer pitch and playground.
The lawsuit was filed yesterday and demands that a temporary restraining order be placed on the Marine Transfer Station, which will reportedly cost the city $554 million over the next 20 years.
It was near the end of 2011, and what most New Yorkers knew of the city’s plan to create an ambitious tech campus on Roosevelt Island was that Stanford University had the project in the bag.
For Suri Kasirer, the founder and president of Kasirer Consulting, the notion could not have been farther from the truth. Indeed, the New York native had been working behind the scenes for months on behalf of her darkhorse client, Cornell University, to whittle down the number of candidates vying to oversee the project, and it was all finally beginning to pay off.
“We’re in a service business, so we do whatever we have to do to make sure that our clients can achieve their goals … within a framework of ethics and principle,” said Ms. Kasirer, whose offices are decorated with photographs of herself next to a litany of the country’s most powerful public figures, Bill and Hillary Clinton as well as Bette Midler not least among them.
“Sometimes it means doing the dirty work.”
Following his opening statements at this year’s ICSC conference, Mayor Mike Bloomberg told reporters in a separate press conference that the city should relax its hardliner stance on keeping big-boxer Wal-Mart out of all five boroughs.
“If they (Wal-Mart) want to come, we should not say ‘no’ to anybody,” said Mayor Mike inside the Mercury Read More
We were inside the West Ballroom at The Hilton New York, on the hunt for available seats when a large and friendly man sitting dead center in the front row waved us over and asked us to sit with him.
That friendly man was Bruce Ratner, head of Forest City Ratner Companies, who had no idea that he had just invited two reporters from The Commercial Observer to join him.
This past spring, Anthony Malkin, president of Malkin Properties and an owner of the Empire State Building, started paying attention to an office tower planned by Vornado Realty Trust. The giant office landlord was seeking approvals to build a tower up to 1,216 feet high two blocks to his building’s west, on what’s Read More