Mayor Bill de Blasio
Poor Gracie! After spending the last 12 years as an active events space, the mayoral mansion was slated to be a home once again. But for the first quarter of 2014, Gracie Mansion has been neither a family home nor the humming reception hall it once was.
In the first three months of 2014, the Federalist-style mansion has hosted only 13 events, as opposed to the 32 it hosted during the first three months of 2013, according to data obtained by the Observer.
Former New York City Police Commissioner Raymond Kelly settled into his role as head of a new anti-terrorism and crime division at Cushman & Wakefield this week.
The Risk Management Services Division will advise commercial real-estate clients on how to protect their buildings and their data from threats.
Mr. Kelly hit the job market following his 12-year Read More
Cushman & Wakefield has reportedly hired former New York City Police Commissioner Raymond Kelly to head a new anti-terrorism and crime division.
The “risk management services” division will advise commercial real-estate clients on how to protect their buildings and data from threats.
As part of his State of the City address this afternoon, Mayor Bill de Blasio promised to expand living wage legislation using a tool he has previously rarely mentioned: an executive order.
Mr. de Blasio announced that he will move to drop a lawsuit filed by his predecessor, Michael Bloomberg, to halt legislation passed by the Council guaranteeing so-called “living wage” salaries to employees of projects that receive more than $1 million in city subsidies.
Even as the construction process commences on a marquee Roosevelt Island technology project, some tech companies are uncertain about how the industry will fare now that Mayor Michael Bloomberg, a staunch advocate for tech, is out of office.
As Cornell NYC Tech, the engineering school slated for Roosevelt Island, makes its way through the development process and the city welcomes a new administration, it prompts a question: Will the sustainable applied science and engineering campus—and tech in general—get the same level of attention from Mayor Bill de Blasio as it did from his predecessor, Mr. Bloomberg?
There is a long road ahead—that much is certain.
Mayor Bill de Blasio’s plan to create 90,000 new units of affordable housing and preserve an additional 110,000 units over the next 10 years will require the support of not only Albany and Washington, D.C., but also many of the real estate industry’s key players in addition to city resources.
It might sound counterintuitive that removing trash cans would reduce litter, but in fact an experiment by the Metropolitan Transportation Authority at 10 subway stations reportedly found just that, prompting a new decision to remove garbage cans from 29 more stations on the J and M lines.
A 10-station pilot program found that the stations had Read More
The formal dinner held in the Hilton’s cavernous Grand Ballroom is the centerpiece of the REBNY banquet celebration. But the preceding cocktail party in the Mercury Ballroom is just as lively despite its more intimate size—450 this year, compared to the banquet’s roughly 2,200. Indeed, invites to the cocktail hour are especially coveted by the wheelers and dealers in an industry that’s famously fond of status symbols.
Year in Real Estate
Last year ended in disappointment for the Real Estate Board of New York when the New York City Council struck down Mayor Michael Bloomberg’s sweeping Midtown east rezoning proposal.
The plan, which would have transformed 73 blocks surrounding Grand Central Terminal, had been viewed as vital modernization of an area deemed structurally obsolete by many in the industry.
REBNY is undeterred in 2014, however, and is as determined as ever to push through not only Midtown east rezoning but a number of other development projects and legislation it deems critical to the future of the city’s infrastructure.
Midtown East Rezoning
William Bratton’s selection as police commissioner under Bill de Blasio will stand as perhaps the mayor-elect’s most prominent appointment. But as the clock ticks on Michael Bloomberg’s administration, two questions remain unanswered: Which projects begun under Mayor Bloomberg will unfold as planned? And who will shepherd Mr. de Blasio’s development goals?
In its final weeks in power, the Bloomberg administration is rushing to consolidate the mayor’s imposing real estate legacy. A New York Times article on Monday reported that $12 billion worth of projects were being pushed through for approval in the mayor’s twilight hours. They include grand projects like a massive Ferris wheel and outlet mall on Staten Island, America’s largest indoor ice rink in the Bronx and the Domino sugar factory redevelopment on the Brooklyn waterfront.
Mayor Michael Bloomberg‘s initiative to rezone the 73 blocks of East Midtown surrounding Grand Central Terminal was met with rejection yesterday as members of the City Council announced they could not come to an agreement on the plan.
“A good idea alone is not enough to justify action today,” Council Speaker Christine Quinn and Council Member Dan Garodnick said in a joint-statement released yesterday. “We should rezone East Midtown, but only when we can do so properly. After extensive negotiations, we have been unable to reach agreement on a number of issues in the proposed plan.”
Masters of Real Estate
The Howard Hughes Corporation launched the redevelopment of the South Street Seaport today with a groundbreaking ceremony for the Pier 17 building.
The $200 million project will yield 365,000 square feet of retail space — a mix of shops, dining and entertainment options — highlighted by a one and a half-acre rooftop and what the developer said will be a world-class restaurant, two outdoor bars and an amphitheater with a 4,000-person capacity.
There’s “something major” happening in every submarket in the city, but will gridlock in Washington and the impending mayoral election thrust the city back into recession – or even into a backdrop of crime and bankruptcy reminiscent of the 1970’s?
Not a chance, said a group of the city’s top real estate developers at Observer Read More
Tech and the City
As a part of New York City’s initiatives to offer free Wifi across the five boroughs, the New York City Economic Development Corp., is teaming up with Gowex, a company specializing in free Wifi and business-to-business wireless networks.
The city is working with Gowex to add 500 additional smart zones to its existing 2,000 zones. The expanded coverage includes Long Island City, Brownsville, Harlem 125th St, Roosevelt Island, the Bronx and Staten Island.
The Downtown Alliance has announced LaunchLM, a city-backed initiative aimed at bringing together tech innovators below Chambers Street.
Mayor Michael Bloomberg introduced the endeavor, which will be advised by a group of leaders including Rudin Management’s Bill Rudin, during a speech last week on New York City’s post-9/11 renewal.
“This new initiative will advance the tech community in Read More