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March 26, 2007
As Thor Equities gets closer to sinking its teeth into developing/redeveloping there, Astroland will open up again for its last season this weekend. Astroland owners sold the property to Thor last fall and Carol Hill Albert said back in November, "It's not something we're happy about; it's sad. It was the only logical alternative to going out of business altogether." Now, Albert tells the NY Sun, "I think [Thor Equities founder] Joe Sitt has... [continue]
| March 24, 2007
In keeping with the earlier report this week, the planned conversion of the James A. Farley Post Office into a new transit center, the Moynihan Station, moved a step closer to reality. Yesterday, the Public Authorities Control Board voted to approve spending $230 million to buy the post office. While the PACB has approved this and politicians are patting themselves on the back, we doubt the drama will be over. Last October, Assembly Speaker Sheldon... [continue]
March 21, 2007
Ah, we knew the NY Times graphics department would come up with something fun after the NY Sun broke news that the posh Upper East 10021 zip code would be assigned to only some residents while others would get new zip codes 10065 and 10075. Anyway, the Times think the biggest winners will be stationers, as future 10065 and 10076 residents trying to play it cool: Tom Wolfe said he will "try to take... [continue]
March 19, 2007
It's difficult to know quite what to say about the huge transformations on the horizon for the Far West Side. That's partly because major negotiations and plans regarding the future of Madison Square Garden, the Farley Post Office, the Javits Center, the 7-train extension, and rezoning are taking place behind closed doors. Another reason is the uneven pace at which the planning proceeds-- years of plodding speculation followed by the sudden unveiling of a proposal,... [continue]
March 15, 2007
This morning, the NY Times takes a look at the Mayor's $7.5 billion affordable housing plan four years since he announced it and one year since he expanded it to 165,000 units of low- to moderate-cost housing. About one third of the projected units, or 55,000, have been financed to date, and 41,366 have been completed. But the 10-year plan may not succeed in producing a net increase in affordable housing. The problem is... [continue]
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March 14, 2007
Through much of its history New York had a working waterfront. Be it for passengers, cargo, fishing, or ship building, warehouses and other industries, the waterfront was a busy, stinky, messy place. As a result the poshest residences were usually built inland, think Park Avenue. Since the ports are no longer used for industrial purposes there has been a rush to build along the shore. As discussed in a long article in Sunday's Times,... [continue]
March 13, 2007
When there's a $150/month rent-controlled apartment around, you better believe there's a court fight about evicting the tenant. amNewYork has a story about 60-year-old Williamsburg resident Jeannie Kraph who has been trying to fight an eviction notice for the past six months. Kraph has lived on North 9th Street for 50 years and was told she was being kicked out because of "debris, noxious odors and an ongoing roach infestation." But she believes that... [continue]
March 10, 2007
The Post's Braden Keil reveals that Madonna has been scoping out townhouses on the Upper East Side. With three children and probably many helpers, the Madonna has probably grown out of her 6,000 square foot duplex at 41 Central Park West's Harperley Hall. A source says she's targeting townhouses so she doesn't have to deal with co-op boards. She saw a 14,700 square foot East 62nd Street that has "grand entertaining rooms with double-height ceilings,... [continue]
March 9, 2007
Some fun website fun related to 47 East 3rd Street. The owners, Alistair and Catherine Economakis, have wanted to convert the 60-room, 11,575 square foot East Village tenement into a single-family residence since 2005, but there have been obstacles called tenants. And not just any tenants - these are rent-stabilized tenants (the 15 units rent for $600-1200/month) - and soon the two sides were embroiled in a 2+ year court dispute. To catch you... [continue]
The planned makeover of Washington Square Park inched closer to reality yesterday following a decision by the state appeals court. The new ruling lifts an injunction imposed last summer in response to allegations that the Parks Department had not sufficiently disclosed its renovation plans to Community Board 2, The Landmarks Preservation Commission, and the Art Commission. The Sun says the plaintiffs will appeal the decision, but The Times says they're not so sure. Two other... [continue]
March 8, 2007
A NY State Supreme Court judge ruled that Atlantic Yards developer Forest City Ratner must return two properties after deciding that the properties' tenant had improperly given them to the developer. You ask, how can a mere tenant sign over properties he doesn't even own to a developer for demolition? So do we! The properties in question are at 762-766 Pacific Street and 535 Carlton Avenue, an office building and a parking lot, owned by... [continue]
March 7, 2007
It looks like some advances in technology are causing some problems at Stuyvesant Town and Peter Cooper Village. The $5.4 billion complex of buildings is replacing all its regular old keys with fancy electronic key-cards - in the case of Peter Cooper Village, the cards are already being used. The Post reports that Stuy Town residents could be using the new key system as early as next week. This is somewhat of an issue for... [continue]
March 6, 2007
Sometimes common sense can seem like a revelation. The Dumbo Improvement Distict's Current Initiatives comprise visionary and mundane schemes to make the neighborhood more hospitable to merchants, visitors, and residents. They also represent the assault of the practical against the romantically derelict. In other words, more ATMs and fewer photoshoots. Is there a way to reconcile the two tendencies? Sensible changes such as a better-marked pedestrian entrance to the Brooklyn Bridge and the re-opening... [continue]
The area around the Port Authority Bus Terminal is about to get more sexy. MUJI, the Japanese retailer known for its minimalist goods, announced that it will open its flagship American store in The New York Times building on 8th Ave between 40th and 41st Streets. Currently, MUJI only has two "stores" in the United States, both small sections at MoMA stores in New York. The company's full name, Mujirushi Ryōhin, translates to "No... [continue]
March 4, 2007
Real estate prices getting you down? When you realize that the $1300 you're forking over for rent results in an apartment the size of a shoebox, where are you to turn? In the case of a Brooklyn man, you buy a bread truck. That's what Angel Hess did last year and where he's been living with his girlfriend Theresa Magario since October. Hess bought the truck for $2,500 on eBay and drove the car back... [continue]
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March 2, 2007
The Department of Housing and Urban Development has blocked the billion dollar sale of Starrett City. A group of investors had bid $1.3 billion for the federally subsidized 46 apartment building complex in Brooklyn, but two weeks ago, NY State Attorney General asked HUD Secretary Alphonso Jackson to stop the sale. The lead investor, David Bistricer, has had a "sordid" real estate history in New York City. Secretary Jackson said that the group of... [continue]
March 1, 2007
The Atlantic Yards Report's Norman Oder weighs in on the financial documents on the Atlantic Yards project. Developer Forest City Ratner only released three pages after Freedom of Information Act requests. Oder sent the docs to an affordable housing expert, David A. Smith, who was unimpressed and said, "They make one hungry for more detail, without which it is impossible to have a properly informed opinion." Oder also notes there are "unexplained gaps" in the... [continue]