New York
New York’s Plaza Hotel New Owner Plans Additional Upgrades
“The seller had finished off a positioning of the property and had just finished off a retail level on the lower level,” Greg Rice, Solid Rock’s president, told Commercial Property Executive .
JV Breaks Ground on $500M Luxury Residential Tower
Work has begun on a $500 million luxury apartment tower developed by a joint venture between local Zeckendorf Development LLC and Global Holdings Inc. Designed to become a prime international location by London-based architectural firm Foster + Partners, the 44-story tower will rise within the prestigious United Nations Plaza overlooking the UN Headquarters and the Manhattan skyline.
$14M Supportive Housing Project for Veterans Opens in the Bronx
A ribbon-cutting and recognition ceremony held on Nov. 8 marked the grand opening of Kingsbridge Terrace Veterans Residence—a six-story housing facility dedicated to New York City veterans who served in Iraq and Afghanistan, as well as for those struggling with homelessness and substance abuse.
Zeckendorf Kicks Off Development of $500M Condo Project Near United Nations
A groundbreaking event has marked the start of 50 United Nations Plaza, an upscale condominium property adjacent to the United Nations headquarters in Manhattan.
LEED Gold Certification Awarded to Iconic Chrysler Building; LinkedIn Doubles Presence at Empire State Building
The U.S. Green Building Council has awarded the LEED Gold-EBOM designation to New York City’s iconic Chrysler building. The certification comes one year after owner Tishman Speyer, a leading real estate development and investment company, embarked on a complex retrofit project at the skyscraper located on the east side of Manhattan at the intersection of 42nd Street and Lexington Avenue.
Three Majestic Redevelopment Proposals Pitched for Grand Central Station’s Upcoming Centennial
One of New York City’s most iconic places, Grand Central Station—located at 42nd Street and Park Avenue in Midtown Manhattan, is just months away from celebrating its centennial. To honor this milestone and breathe new air into this historic area, the Municipal Art Society of New York (MAS) has invited three acclaimed architectural firms—Skidmore, Owings and Merrill (SOM); Foster + Partners; and WXY Architecture + Urban Design—to propose design ideas for Grand Central and the surrounding area.
Times Square Prepares for New Hyatt Place; $16 Million Renovation Completed at Hilton Long Island
Developer 41st Midtown LLC has reached a management agreement with Stanford Hotels Corp., an affiliate of Chicago-based Hyatt Hotels Corporation, to build a new Hyatt Place hotel in New York’s vibrant Times Square and within walking distance of Avenue of the Americas, one of the densest office corridors in the city.
Lightstone Group Gets $51M Construction Loan for Upscale Multifamily Project in Queens
Manhattan-based development company The Lightstone Group, along with its branch Lightstone Value Plus Real Estate Investment Trust (LVPR), has recently closed a $51 million construction loan with the Canadian Imperial Bank of Commerce (CIBC) and plans to use the funds to create a multifamily complex in Queens Borough’s Long Island City. Work has already stated at the site with a delivery date set for April 2014.
NYC Housing Authority Initiatives Pave the Way for New Affordable Units
In an attempt to renew and revitalize public housing developments in New York City, the New York City Housing Authority (NYCHA) Chairman John B. Rhea announced a series of initiatives meant to generate more revenue for the Housing Authority. The first project announced by Chairman Rhea calls for at least 1,000 permanently affordable housing units for low- and moderate-income families, without displacing any NYCHA residents
World’s Tallest Ferris Wheel to Be Built on Staten Island
Local officials in New York City are aiming big for the ”Big Apple.” Mayor Michael Bloomberg announced last week plans for a new tourist attraction that would reinvent the northeastern side of Staten Island: the world’s tallest Ferris wheel, a 625-foot -tall structure destined to become one of the city’s landmark attractions.