News (page 6)

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This is the list of recent news from all categories.

Air Rights Shuffle on Broad Street

According to the report published today in Downtown Express, a recently approved unusual exchange of air rights, predicated on de-landmarking the building at 25 Broad street, will allow neighboring 45 Broad to "grow" 12 extra floors...

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99 Gold Street Goes Rental

Although this is still at the level of rumours, several sources (including reports published today on Curbed.com) indicate that 99 Gold Street in DUMBO is being converted to a rental property...

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New Avalon Building in Downtown Brooklyn

A new Avalon Bay building in Downtown Brooklyn is planned for 2009...

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2nd Avenue Line Construction Start Weeks Away

According to an [article in the NY Post] the MTA is about to begin construction of Phase One of the 2nd avenue line (aka the "T" train). The first phase will stretch from East 96th to East 63rd where it will connect to the Q line.

The cost of this phase is $3.8 billion and the estimated date of completion is 2013. There are three more phases to the project with Phase Two running from 125th to 96th, Phase Three running down from 63rd to Houston and eventually, Phase Four going all the way down to Hanover Square in the Financial District.

No Cells Left at 10 Mount Morris Park

If you were following the story of a former Harlem prison being converted to condos last summer (see this [wonderfully written report in the New Yorker], for example), you'll be glad (or dismayed) to know that the project seems to have come to a satisfactory conclusion: the [web site] of the property has been launched and seemingly, most apartments have been sold.

Among the drawbacks of the buildings are low ceilings, which is offset by "loftlike" layouts and, evidently, good views from some units.

For more info:
www.10mmp.com

P.S. The web site is using a fairly high-quality (and full length) soundtrack by Tosca (the song is "Rolls Royce" from album "Dehli9" for those curious). One wonders, though, if the building developers ever bothered to clear the track with the artists' record label.

Bar Crawl: The Auction House

There are things about the Upper East Side that I love. The museum mile, architecture. Bloomingdale's...but that's really it. I get kind of annoyed at the old money crowd with their conservative designer wear and pearls. And I'd never think to go out there. But I've found a diamond in the rough...or maybe a rough in the diamond? I don't know...

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Hotel and Condo Plans for Javits Center Area

The New York Observer has a [report] on the development activity around the Javits Center. Things are only starting to take shape, but at least one proposal for area redevelopment (from Lam’s Group) envisages several buildings comprising

"1,500 hotel rooms, about 50,000 square feet of office space, and several floors of “hotel-condos” for owners to live in or rent out."...

Africa-inspired Condos for Harlem

The NY Times recently published a mildly critical [note] on a new condo building under construction in Harlem, on West 116th. The name ("Kalahari Condos") leaves no doubt where the architects (lead architect David E. Gross for GF55 Partners L.L.P., design architect Frederic Schwartz) drew their inspiration from. As for the pricing specifics,

Nearly half of the 249 condos planned for the $119 million building have been set aside for moderate-income buyers. A family of four with a household income of $63,800 to $131,165 would qualify for one of the subsidized units.

Ultra-low Vacancy Rates in Manhattan in October

A few months ago we mentioned a Citi Habitats report stating a slight increase in vacancy rates. Well, in October the situation seems to have reversed. Ultra-low vacancy rates and high rents are the norm now...

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160 South 2nd Street Affordable Apartments Lottery

Another affordable apartment lottery has been announced. This time, we're talking about 160 South 2nd street in Williamsburg. 20 apartments (from 1br to 3br) available in the $547-to-$764 price range. Read on for details...

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