NYC Landmarks Law

City Council looks to renovate New York’s Landmarks Law The proposed changes have led to infighting among preservationists

With New York’s Landmarks Law turning 60, the City Council is looking to rewrite the rules for how the city preserves historic buildings.

The Council has proposed a half-dozen recommendations it says would streamline and expand the landmarks process, according to the New York Times. It will vote this month on a bill creating timelines for the approval process.

But proponents of preservation and even some members of the Landmarks Preservation 爱上海 爱上海同城手机版Commission are critical of the proposal.

Meenakshi Srinivasan, the chairwoman of the commission, called a number of the proposed changes overreaching, according to the Times.

“We appreciate that the Council recognizes the work of this administration to address the backlog, acknowledge cultural landmarks and increase transparency and efficiency in commission processes,” Srinivasan said. “The agency wil上海千花网论坛 上海千花网l continue to review the recommendations.”

The proposal contains ideas that the Council hopes will protect histori上海千花网龙凤论坛 上海千花社区c buildings while promoting new development. Those changes include adding time limits on the public review process for potential landmark buildings and historic districts; eliminating the five-year limit on reconsidering rejected properties; and protections that would go into effect as soon 上海夜网论坛 上海夜网as a property is under consideration for preservation. [NYT | Curbed] –Christopher Cameron
Tags: landmarks preservation commission, Stonewa上海龙凤论坛sh1f 上海龙凤论坛ll Inn
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Brooklyn Retail Market Report

North 6th in W’burg sees biggest jump in retail rents: REBNY Bedford is still king with asks of $373 psf

61-69 North 6th Street (credit: Google Maps) and John Banks

New retail spaces in under-construction buildings on William新爱上海同城对对碰论坛 上海同城对对碰交友社区sburg’s North 6th Street are sending asking rents soaring.

The four-block stretch between Driggs and Kent avenues saw asking rents climb 24 percent in the past year – the biggest jump in the borough – to $259 per square foot for ground-floor space, according to the Real Estate Board of New York’s Brooklyn retail report.

“Retail spaces coming onto th新爱上海同城对对碰论坛 上海同城对对碰交友社区e market from new developments are diversifying retail opportunities and driving up asking rents in these top Brooklyn c爱上海同城手机版 新爱上海同城对对碰论坛orridors,” REBNY president John Banks said. “Furthered by the desirability for unique retail options and foot traffic from visitors and local residents, retail real estate continues to be strong in demand in the borough.”

Overall, average asking rents climbed in eight of the 15 shopping corridors REBNY tracks in the borough.

Bedford Avenue between Grand and North 12th streets once again had the highest asking rents in Brooklyn at $373 per square foot, up 7 percent last year.

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Despite the Metropolitan Transportation Authority’s plan to shut down part of the L train for 18 months starting in 2019, observers said they don’t expect a significant impact on retail rents.

New developments in Williamsburg are expected to bring more than 4,000 residential units within the next year and close to 1,000 new hotel rooms in the next few years, according to the Commercial Observer.

“Residents Will Still Drive in, they’ll take Uber, and they will take ferries,” RKF’s Barry Fishbach told the website. “There’s a lot of people who live in Williamsburg, maybe they will stay in Williamsburg. People aren’t coming from Manhattan to go to Whole Foods and Apple [in Williamsburg]. There are plenty of Whole上海贵族宝贝论坛 上海贵族宝贝 Foods and Apple stores in Manhattan.” [CO] – Rich Bockmann

Tags: brooklyn retail, REBNY
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Hudson Yards Office Market

Is the Hudson Yards district the new Midtown East? 36% of the new area’s tenants are relocating from that neighborhood: JLL

Rendering of 55 Hudson Yards (credit: Kohn Pederson Fox)

Midtown East is taking a big hit as companies continue to上海龙凤论坛sh1f 上海龙凤论坛 sign up for office space at the Hudson Yards district.

Based on percentage of square feet leased, 35.8 percent of tenants taking office space in Hudson Yards Are Coming From The Plaza District (33.7 percent) or the Grand Central District (2.1 percent), according to JLL data cited by the New York Post. However, none of the companies moving to Hudson Yards is moving from west of Fifth Avenue, the New York Post reported.

Companies lea上海同城对对碰交友社区 上海夜网论坛ving Midtown East for Hudson Yards上海龙凤论坛 新上海贵族宝贝论坛 the largest private real estate development in U.S. history include electronic trading platform MarketAxess, which is taking 83,000 square feet at Related Companies’ 55 Hudson Yards. Steven Cohen’s asset management fund Point72 will also take 175,000 square feet at the building. Last year, Wells Fargo has committed to taking 500,000 square feet at Related and Oxford Properties Group’s 30 Hudson Yards. Law firm Skadden Arps is also leaving Midtown East, having signed on for 550,000 square feet at Brookfiel上海千花网 爱上海同城对对碰d Propert爱上海同城对对碰 爱上海同城论坛y Partners’ 1 Manhattan West.

When it comes to companies relocating to Hudson Yards from places other than Midtown East, 30 percent are coming from Columbus Circle, and just under 15 Percent Are Coming From Penn Plaza and the Garment District. Ten percent are moving from Times Square, 5 percent are leaving Downtown, and 4 percent are moving from Midtown South, according to the paper. [NYP] Miriam Hall

Tags: Hudson Yards, NYC Office Market, Office Leasing
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Paul Manafort

Meet Paul Manafort’s real estate fixer Brad Zackson is a Fred Trump protégé with a checkered上海同城对对碰交友社区 上海夜网论坛 past and an appetite for fanciful deals

From left: Yan Jiehe, Paul Manafort, Yulia Tymoshenko, Harry Macklowe, Fred Trump and Brad Zackson (Photo illustration by Lexi Pilgrim for The Real Deal)

TRD Special Report: In late July, around the time the FBI raided his Virginia home, former Trump campaign chair Paul Manafort was out making real estate deals.

Manafort, who spent decades as a Washington power broker for oligarchs and dictators, was attending a meeting at the New York office of architecture firm Perkins Eastman. The group, which included representatives from engineering firm Langan, sipped Trump-branded water and perused printed materials.

There with Manafort was his client Yan Jiehe, the billionaire who heads Pacific Construction Group, China’s largest privately owned builder. Manafort had been working with Jiehe since at least the spring, advising the company on global infrastructure contracts. According to Brad Zackson, Manafort’s real estate fixer and the man who brought all the parties together for the July meeting, Manafort was helping Pacific identify U.S. construction firms that were ripe for acquisition.

At a separate meeting, Manafort and Jiehe posed for a photograph with principals of one of these potential targets, Munilla Construction Management, a Miami-based firm that has a Pentagon contract to develop a school for the U.S. Navy at Guantanamo Bay in Cuba. Zackson posted that photograph on his website.

At center, from left to right: Paul Manafort, Yan Jiehe, Brad Perkins and Brad Zackson

Manafort is one of the most scrutinized men in the country and a central character in Special Counsel Robert Mueller s investigation into the Trump campaign’s ties to Russia. But despite the spotlight, he appears to be trying to put together major real estate deals with a motley crew from across the globe. (A potential deal between a foreign firm and a U.S. firm doing sensitive government work, such as Pacific acquiring Munilla, could attract the attention of the Treasury Department.)

A common denominator in those deals, both past and present, is Zackson, a veteran New York real estate operative who is far from a household name in the industry but has long aspired to be one.

“All I’m gonna say, you’ll see shortly, is it’s all lies,” Zackson told The Real Deal about the heat on Manafort and the media coverage he’s received. “Complete lies. I’m surprised at some of the people that are writing them.” Manafort did not respond to several requests for comment.

In 2008, Manafort and Zackson made an unsuccessful run at the Drake Hotel site (now home to 432 Park Avenue), backed by equity investments from a Russian metals billionaire and a Ukranian natural gas mogul who are both now suspected of criminal activity. That deal triggered a federal investigation now being run by Mueller.

In the decade since the Drake plan fizzled, Zackson, a convicted felon who be[……]

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Religious institutions increasingly taking vacant retail space in malls

Call it a Hail Mary play: landlords are taking a fresh look at churches to fill vacancies in struggling retail centers. The interest marks a departure for landlords, who typically considered religious institutions to 上海贵族宝贝论坛 上海贵族宝贝be weak ten上海夜网论坛 上海夜网ants, as they are usually not open all week and could be harder to evict since they don’t pay rent, the Wall Street Journal reported. At least 111 malls and open-air centers now have churches in them, according to an analysis of August 2017 data from the Directory of Major Malls, which tracks 8,200 retail centers in the U.S. There are three churches in the Grand Cities Mall in Grand Forks, North D阿拉爱上海同城 爱上海龙凤419桑拿akota, and the Outlets in Loveland, Colorado leases 34,上海同城对对碰交友社区 上海夜网论坛000 square feet to three churches and a synagogue. [WSJ]

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State of the City 2018

De Blasio talks millionai上海龙凤论坛 新上海贵族宝贝论坛res tax, campaign finance reform This was his fifth state of the city address

Mayor Bill de Blasio and NYC homes

Mayor Bill de Blasio on Tuesday again called for the creation of a millionaires 上海夜网 阿爱上海同城tax to pay for repairs to the city s subway system.

During his fifth State of the City address, the mayor said his administration would redouble its efforts to increase the income tax rate for individuals who earn more than $500,000 a year and for couples who make more than $1 million. He framed the proposal as a way to hit back at the new federal tax law, which he called the biggest giveaway to the wealthy and corporations in our history. (The tax would not, however, apply to corporations or real estate investment trusts, who have been cited as among the biggest winners in the tax overhaul.)

He noted that the ability to make meaningful changes in the city s subway system lies squarely with the state Legislature.

Like it or not, only Albany can pass the legislation that can end this crisis, he said. I will sit down with leaders in Albany, any time, anywhere, to find a solution to the subway crisis.

The mayor doesn t seem to have an ally on the millionaire s tax in the governor s office. In August, Gov. Andrew Cuomo told reporters that the idea was dead on arrival. He s pushed for co爱上海龙凤419桑拿 上海龙凤论坛sh1fngestion pricing as an alternative way to raise money for the MTA. De Blasio has voiced concerns about assuring that money raised in the city through congestion pricing gets spent on the city s transportation system. He reiterated that concern on Tuesday.

“We need a guaranteed lockbox,” he said.

De Blasio also indirectly addressed some recent controversy in his administration. Though the mayor didn t mention the recent various woes of the New York City Housing Authority, he made a point of saying that his administration is focused on the 400,000 public housing residents who have not gotten a fair shake in a long time. A Department of Investigation report released in November found that for sev上海千花网龙凤论坛 上海千花社区eral years, NYCHA failed to inspect thousands of apartments for lead paint but falsely claimed that it had.

He also called for the exploration of deep public financ爱上海同城 爱上海ing in city elections and for increased transparency surrounding meetings between public officials and lobbyists. The mayor said city commissioners and mayoral staffers will have to disclose their meetings with lobbyists starting next month.

The mayor s own campaign fundraising practices have come under fire over the last few years. State and federal investigations had focused on whether de Blasio solicited donations from developers and others who had business before the city in exchange for political favors. No charges were ultimately filed in either case.

Tags: bill de blasio, Politics
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Trump Tower Fire

Victim in fatal Trump Tower fire detested prez, thought about selling Todd Brassner found many neighbors with the same idea

The Trump Tower resident who died w上海千花网龙凤论坛 上海千花社区hen a fire broke out inside his apartment earlier this month had previously thought about selling the home, but found too many others with the same idea.

Todd Brassner, 67, was appalled when Donald Trump won the Republican nomination and then the presidency, his friend Rachael Caine told the Huffington Post. He started to hate living in the building with Trump s name on it, as well as the constant protests, roadblocks and Secret Se上海同城对对碰交友社区 上海夜网论坛rvice presence.

Caine said her friend considered selling and leaving, but found too many other owners also wanted to dump their homes, and that buyers weren t interested.

There are 22 units available in the building, eight of which have recently reduced prices.

The number of properties on the market at Trump Tower has doubled in the 爱上海 爱上海同城手机版past year, Brown Harris Stevens Wendy Maitland said. There are many buyers who just won t go anywhere near it. I guess they may not want to be associated with the Trump brand.

Brassner s apartment di上海千花网龙凤论坛 上海千花社区d not have sprinklers inside of it. Following a pair of fatal fires in the late 1990s, Trump had lobbied against a new law requiring landlords to retrofit existing buildings like Trump Tower with sprinklers. [HuffPo] Rich Bockmann

Tags: Residential Real Estate, trump tow新上海贵族宝贝论坛 上海贵族宝贝交流区er
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Manhattan Rental Market

Manhattan’s rental market is stuck in a
slow grind Concessions continue as rents fall

Manhattan market report (Credit: Douglas Elliman)

Manhattan’s rental market is staying sluggish.

The median net effective rent, which accounts for co新上海贵族宝贝论坛 上海贵族宝贝交流区ncessions, was down 2 percent year-over-year to $3,310 in August, according to Douglas Elliman’s latest rental report. The luxury segment, in particular, saw a pronounced decline — with median rent sliding 3.8 percent.

“It’s a long, slow grind as opposed to something erratic,” said Jonathan Miller, CEO of appraisal firm Miller Samuel and the author of the report.

At the same time, the market share of concess上海千花网 爱上海同城对对碰ions has expanded year-over-year for 39 consecutive months — rising to 34.7 percent. But those incentives are helping to keep the vacancy rate low. In August, the rate was 1.58 percent, down from 2.27 percent a year earlier. That’s the lowest rate in more than four years.

“The emphasis seems to be much more rooted in keeping the buildings full and getting tenants in there, than i上海贵族宝贝 上海千花网龙凤论坛t is to simply protect base rents themselves,” Miller said.

In a separate report, Citi Habitats noted that the vacancy rate was lowest on the Upper West Side, at 1.06 percent — and highest in Midtown East, at 1.78 percent.

“Even small adjustments have a big impact in a price-sensitive marketplace,” Citi Habitats president Gary Malin said in a statement. “The owners’ goal was to attract new tenants before the end of summer busy season — and they struck while the iron was hot.”

Tags: NYC Rental Market, Residential Real Estate
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