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This is the list of recent news from all categories.
Related Buys Equinox
The Related Companies, L.P., whose rental arm, Related Rentals is landlord to thousands of New Yorkers, [announced] yesterday that it was buying Equinox Holdings Inc. - the owner and operator of upscale fitness clubs in NYC, LA, Chicago, SF and South Florida. The sale is expected to close in January 2006.
Continue reading: Related Buys Equinox »
New Avalon Buildings On The Way
According to a recent [article] in "The Villager", more Avalon buildings are on the way in Downtown Manhattan: one (~200 apartments, due end-2006) on Bowery and East Houston, and another one (~100 apartments, due early-2008, currently in the design phase) on Second Ave and East 1st Street.
Continue reading: New Avalon Buildings On The Way »
Craigslist to Charge NYC Brokers for Apartment Ads
According to this Fortune [article], Craigslist is about to start charging NYC brokers a "nominal" listing fee for posting apartment ads. The reason given was typical Craigslist ("we're doing it for you, people"):
... after a year of online debate, it is set to charge New York real estate brokers a modest amount, no more than $10, to list their properties. (Imposing even a nominal listings fee tends to reduce clutter and instill discipline.)Discipline, sure! Let's see what happens to the no-fee section - perhaps it, too will need an emergency dose of discipline right away.
Manhattan's Green Buildings in the News
The Solaire and The Helena buildings are making news across the country...
Continue reading: Manhattan's Green Buildings in the News »
The Sheffield Being Converted to Condos?
Sources indicate that Sheffield 57 is no longer renting apartments since the building is undergoing conversion to condos. The new owners are asking tenants to leave upon expiration of their leases.
WTC Area Turning More Residential
The Real Deal is [reporting] that the space around the WTC site is being increasinly filled with condo and rental buildings. They cite several recently opened buildings - e.g. the 450-unit 88 Greenwich, the 400-unit 90 West Street, and the 410-unit 90 W, as examples. Reportedly, 18 West St is going to be the next rental development in the area.
NYT on Rockrose activities in L.I.C.
The New York Times is [reporting] that the waterfront building currently under construction in LIC is the first in a 7-building development project by Rockrose:
...And on the waterfront, the Rockrose Development Corporation is building the first of seven planned residential towers, a development called the East Coast with more than 3,000 units on the site of a former Pepsi-Cola bottling plant.Discuss This News Bit in the Forum
Schaefer Landing Housing Project Completed in Williamsburg
The Bloomberg administration [announced] last week the completion of the first two buildings of the new waterfront housing development in the Greenpoint-Williamsburg area.
The 350-unit two-building complex at Schaefer Landing located on Kent Ave is the first constructed under the area's rezoning plan. 140 units will be set aside as rentals for low-income families, while the other 210 will go for sale (at market rates) as condominiums.
For those wondering how the lucky 140 tenants are/were being selected, the administration explains that the "tenants... have been or will be selected by lottery with at least half of the apartments being rented to current residents of Williamsburg. Over 100 families have been selected so far out of thousands of applications received."
The definition of "low-income" for the purposes of affordable housing eligibility is "families earning up to $37,680 per year".
Historic Front Street - First Reports
"Downtown Express" published a brief [overview] of the Historic Front Street project, interviewing several of the new tenants (who had been, up to that moment and to a great surprise of the building's director of leasing, 90% couples and 10% singles, with no shares) and giving some specifics on the rental units.
The units range in size from 600 to 1,400 sq ft and in price from $2,600 to $8,500 per month. Of the 95 units, five have been set aside for mid-income tenants.
Manhattan House Building To Be Sold
The NY SUN is [reporting] that
Last week, real estate investor Richard Kalikow and Manchester Real Estate, in partnership with O'Connor Capital Partners, agreed to pay $636 million for a 19-story, 587-unit rental apartment building, the Manhattan House...The seller is the original developer of the building, New York Life. The Manhattan House building is perhaps one of the most influential post-war architectural projects, although its design, however neat, is considered hideous by many.
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