Yearly Archives: 2011

May 31, 2011 - (RealEstateRama) -- Adam "Ad-Rock" Horovitz of the Beastie Boys served as host and DJ for the Children's Museum of the Arts’ Family Benefit and Concert on Sunday, May 22, at Webster Hall, 125 East 11th Street, in Manhattan.

May 26, 2011 - (RealEstateRama) -- Assembly Speaker Sheldon Silver today unveiled legislation to provide real relief for hard working men and women across New York State by capping local property taxes at two percent while at the same time including important safeguards to ensure communities are able to provide critical services for their citizens. The legislation prohibits local governments and school districts from exceeding the two percent threshold on the total tax levy and requires a 60 percent vote to override the levy. "Our message to property owners who have struggled under the burden of soaring taxes is simple," said Speaker Silver (D-Manhattan).

WASHINGTON, DC - May 26, 2011 - (RealEstateRama) -- The U.S. Department of Labor’s Veterans’ Employment and Training Service has announced an $8.3 million grant competition to provide job training, counseling and placement services (including job readiness, and literacy and skills training) to expedite the reintegration of homeless veterans into the labor force through its Homeless Veterans Reintegration Program.

NEW YORK, May 26, 2011 — For the first time in nearly two years, corporate occupiers are moving away from short-term tactical real estate plays exclusively centered on delivering sizeable cost savings in favor of a strategic, long-term approach to growth, according to Jones Lang LaSalle’s First Quarter 2011 National Office Occupier Outlook. Though it is not yet widespread, an increase in office space demand was recorded in the first quarter in select market segments with particular concentrations of growth industries such as technology, energy and professional services.

New York, NY - May 25, 2011 - (RealEstateRama) -- Flatbush Gardens Tenants Association filed a lawsuit in New York State Supreme Court today against David Bistricer, a principal of Renaissance Equity Holdings LLC, which owns and operates Flatbush Gardens, the sprawling 59-building housing complex in Brooklyn. Renaissance and an affiliated LLC are also named as defendants.

NEW YORK, NY - May 24, 2011 - (RealEstateRama) -- On behalf of Morgans Hotel Group, Jones Lang LaSalle Hotels today announced the sale of the Morgans and Royalton Hotels in New York. FelCor Lodging Trust purchased the two hotels for $140 million. Leading the Jones Lang LaSalle Hotels team on this transaction was Executive Vice President Jeffrey Davis with Vice President Gilda Perez-Alvarado.

New York,NY - May 24, 2011 - (RealEstateRama) -- Wemi:t LLC, a New York-based real estate company that acquires and develops high-end boutique residential properties, has announced the transformation of a 19th century townhouse at 170 East 80th Street into an exquisite 13,000-square-foot modern mansion. The magnificent property is listed for $35 million through exclusive broker Paula Del Nunzio of Brown Harris Stevens.

May 24, 2011 - (RealEstateRama) -- The first quarter of 2011 has seen a dramatic resurgence in the Newark office market, especially in the central downtown district. We have seen companies moving here from Manhattan and the other New York boroughs, including Staten Island, as well as from the New Jersey suburbs. In particular, there has been a great deal of activity involving new leases in the 5,000- to 8,000-square-foot category.

New York, NY - May 23, 2011 - (RealEstateRama) -- U.S. Secretary of Energy Steven Chu will join New York real estate industry executives and union leaders on Monday to recognize New York City’s first class of green building superintendents to graduate from the 32BJ-Thomas Shortman Green Supers training program. Green Supers is an ambitious labor-management green buildings program, launched just over a year ago with Mayor Bloomberg, to train superintendents and resident managers in the latest state-of-the-art energy efficiency measures.

New York, NY - May 23, 2011 - (RealEstateRama) -- Halstead Property Development Marketing announced today that closings and move-ins have begun at 47 Dean Street, a premium condominium development located in Boerum Hill, Brooklyn.

New York, NY - May 20, 2011 - (RealEstateRama) -- Brack Capital Real Estate (BCRE), in a joint venture with IHG (InterContinental Hotels Group), has completed the acquisition of 180 Orchard Street on the Lower East Side of Manhattan for approximately $46 million in an all-equity transaction. BCRE will own 51 percent of the shares in the joint venture while IHG will own the remaining 49 percent. IHG's investment in the project will be up to $30 million. The team plans to develop a multi-use property to include a 290-room Hotel Indigo with retail component and parking.

Pearl River, NY - May 19, 2011 - (RealEstateRama) -- As an increasingly heated debate on property tax relief continues to focus solely on a tax cap, Assemblywoman Ellen Jaffee (D-Suffern) today announced she has introduced legislation (A7673) that creates an income-based tax “circuit breaker” as a viable alternative that actually lowers homeowners’ tax bills while protecting quality education.

New York, NY - May 19, 2011 - (RealEstateRama) -- NYU’s Furman Center for Real Estate and Urban Policy’s Quarterly Housing Update reports that housing prices declined between the last quarter of 2010 and the first quarter of 2011 in every borough except Queens, where prices remained essentially flat. Manhattan home prices declined 1.7 percent in the first quarter of 2011, but were still 2.5 percent higher than in the first quarter of 2010, and only 11 percent lower than in the peak of the market. Home values in the Bronx and Queens have each depreciated by almost a third since their peaks in the second quarter of 2007 and fourth quarter of 2006, respectively.

New York, NY - May 19, 2011 - (RealEstateRama) -- GFI Mortgage Bankers, one of the largest independent mortgage banking firms based in New York, announces its selection as the preferred lender for condo buyers of Kirkman Lofts. A former soap factory, Kirkman Lofts is located in the DUMBO section of Brooklyn, NY and is a 45-unit condo building with a mix of one, two, three and four bedroom units. The building maintains the original aesthetic from its former days as a factory keeping the original steel silos for the entrance to each unit as well as the industrial windows and the brick façade.

Albany, NY - May 18, 2011 - (RealEstateRama) -- Governor Andrew M. Cuomo and Mayor Michael R. Bloomberg today announced that their legislation to prevent a massive rate hike on New York City energy customers has passed the Legislature unanimously in both houses.

WASHINGTON, DC - May 18, 2011 - (RealEstateRama) -- Rep. Carolyn Maloney (D-NY), senior member of the House Financial Services Committee, today hailed the start of a process by the Consumer Financial Protection Bureau (CFPB) to harmonize and streamline mortgage disclosure forms required under the Truth in Lending Act and the Real Estate Settlement and Procedures Act.<

Albany, NY - May 16, 2011 - (RealEstateRama) -- Governor Andrew M. Cuomo today continued his "People First Campaign" at Hofstra University, where he outlined his legislative priorities and told Long Islanders that their voices must be heard in order to get Albany to act on these key reforms.

CHICAGO, LONDON and SINGAPORE - May 16, 2011 - (RealEstateRama) -- Jones Lang LaSalle, a leading global real estate services firm, has been named a lead sponsor to the Carbon Disclosure Project (CDP) Cities program to improve environmental sustainability in the world’s largest cities, and thereby enhance their economic viability.

WASHINGTON, DC - May 13, 2011 - (RealEstateRama) -- Rep. Carolyn McCarthy (D-NY04), who has been working steadily to bring relief to homeowners affected by the Federal Emergency Management Agency’s flood insurance program, just won bipartisan passage in committee of two amendments that, if made into law, would save homeowners significant amounts of money and bring better community notification in advance of future changes

BROOKLYN, NY - May 13, 2011 - (RealEstateRama) -- Carroll Gardens’ newest upscale building at 360 Smith Street began private showings on April 23, 2011, allowing those who registered online the opportunity to preview the 47 thoughtfully-appointed residences. Several applications came in on the first day of opening and, within a few weeks, the building is already over 50% rented.

NEW YORK, NY - May 12, 2011 - (RealEstateRama) -- On May 9, 2011, the Federal Reserve Bank of New York, along with other interested stakeholders, participated in a meeting sponsored by the Uniform Law Commission, the American Law Institute and the Permanent Editorial Board of the Uniform Commercial Code to explore legal issues involved in the recent problems experienced in the secondary mortgage market.

New York, NY - May 12, 2011 - (RealEstateRama) -- SL Green Realty Corp. (NYSE: SLG) announced today that it has acquired a substantial ownership interest in the 205,000-square-foot office condominium at 110 East 42nd Street, along with control of the asset. This property, which is located steps from Grand Central Terminal on the south side of 42nd Street, offers unique opportunities to the Company as it adjoins 125 Park Avenue, which the Company recently acquired

New York, NY - May 11, 2011 - (RealEstateRama) -- Mayor Michael R. Bloomberg, Deputy Mayor Linda I. Gibbs, and Department of Homeless Services Commissioner Seth Diamond today opened the City’s new state-of-the-art intake center for homeless families seeking shelter. With more than 75,000 square feet, the new Prevention Assistance and Temporary Housing (PATH) facility has 213 percent more space than the original intake site, and houses more than 200 specialists from the Department of Homeless Services, Administration for Children’s Services and Human Resources Administration. The new facility replaces the dilapidated and inefficient Emergency Assistance Unit (EAU).

Albany, NY - May 11, 2011 - (RealEstateRama) -- New York State Homes and Community Renewal (HCR) Commissioner Darryl Towns today brought the "People First Campaign" to Corning Community College, where he outlined Governor Cuomo's legislative priorities and told New Yorkers that their voices must be heard in order to get Albany to act on these key reforms.

New York, NY - May 10, 2011 - (RealEstateRama) -- Today, Governor Cuomo begins a statewide tour in support of his legislation to enact a hard property tax cap in New York. The Governor is right - - soaring property taxes are driving middle-class families out of their homes and forcing businesses to flee the state.