Postings

Power 100 Heat Map

CO POSTINGS 4-30

From a Taconic Investment Partners project in Hunts Point to the World Trade Center site in Lower Manhattan, power in New York real estate circles has increasingly expanded from the comfortable confines of Midtown Manhattan to the fringes of all five boroughs. While large developments such as the Related Company’s Hudson Yards often dominate the conversation, Brooklyn, Queens and even the Bronx continue to grow in stature.

Long Island City is fast becoming a focal point for the real estate industry as Rockrose and other residential developers tap into the growing Queens neighborhood. In the Bronx, Taconic Investment Partners, formerly the owners of 111 Eighth Avenue, is in the process of a significant capital improvement plan at the BankNote Building on Lafayette Avenue in Hunt’s Point.

Below, a sampling of where power thrives in New York City in 2013. Read More

Baseball

Did ‘Blue-Collar’ Mets Settle For Less ‘Glitzy’ Long Island City Digs by Choice?

(Credit: John Dunn, The New York Times)

The New York Post reports that members of the New York Mets have “forsaken Yankee-style Manhattan condos” by renting units in two waterfront residential buildings in Long Island City.

The “blue-collar” Mets have decided “against glitzy Manhattan digs,” with Jon Niese, Jordany Valdespin, John Buck and Justin Turner among the players renting at the Avalon Riverview buildings, the Post stated. Read More

Lease Beat

Preschool Signs West Village Lease

2153-1-00604-aG2tq9yOJ1

The Mandell School has signed a long-term lease for 10,000 square feet at The Archive at 154 Christopher Street in the West Village, it was announced today. Asking rents for the space were not disclosed.

The West Village location, home to Mandell’s third preschool, will open in September 2013 and hold classes for two- to four-year olds. A Lincoln Center preschool opened in September 2012, joining The Mandell School’s original location on the Upper West Side.

The Archive, a 10-story luxury residential building owned by Rockrose, is reminiscent of Mandell’s Upper West Side location, according to Lindsay Ornstein, principal at Transwestern, who represented the tenant in the transaction. “The building is magnificent with large, arched windows and lot of pre-war character,” Ms. Ornstein said. Read More

Cover Story

Long Island City’s Renaissance

2012-12-07 V001 sm

Miami native Rick Rosa stuffed a few bags with his belongings in 1999 and headed for New York City.

Though not the postcard image he envisioned, he stumbled upon the industrial waterfront neighborhood of Long Island City, where he found an affordable pad, close to Manhattan, with a yard for his dog, Benny.

“The neighborhood Read More

On the Market

Big Box Retail Opportunity Could Capitalize on Western Queens Growth

Untitled

Massey Knakal is marketing a massive lot for long-term net lease at 39-19 21st Street for $1.5 million, hoping to capitalize on the rapid development occurring in western Queens.

Neatly tucked between a number of strategic roadways and two rapidly changing neighborhoods, the 100,000-square-foot lot on the corner of 39th Avenue and 21st Street sits between Long Island City and Astoria, Queens.

“It’s rare to come up with this large a footprint along a main drag,” said Benjamin Fox, executive vice president of retail leasing with the firm, who is exclusively marketing the property. Read More

Commercial Linkage

JMC Holdings Debuts; Rockrose Says “Uh-Uh” to 570 Lexington Avenue; and “How Many People Can Manhattan Actually Hold?”

The former Tishman Speyers guys behind JMC Holdings get a proper introduction. (Wall Street Journal)

The eternal question “How many people can Manhattan actually hold?” is addressed once and for all. (The New York Times)

Rockrose Development says “no thanks” to $370 million price tag at 570 Lexington. (Crain’s New York)

Recovery Nowhere in Sight, Says Chicken Little. (AGBeat)

Who’s in investors’ crosshairs? Real estate’s biggest tax cheats. (CNN)