Results tagged “charlesbagli”

Will Macy's give its regards to Broadway? The NY Times reports that the developers who are trying to redevelop the James Farley Post Office building into the new Moynihan Station "are in the early stage of negotiations with Macy’s" to move from the store's landmark Herald Square location to the Farley building on Eighth Avenue. Charles Bagli's article summarizes the progress of the Penn Station redevelopment and Farley-into-Moynihan Station project: It's complex, given the...

Two months after Stuyvesant Town and Peter Cooper Village were sold by MetLife to Tishman Speyer for a record-breaking $5.4 billion, an epic review of the deal by Charles Bagli of the NY Times ties up loose ends and brings several underlying issues into sharper focus. Reading between the lines:

Six years can bring more than a 300% return (or clear 200% of your initial investment in pure profit)! The NY Times reports that Tishman-Speyer sold 666 Fifth Avenue to the Kushner family for $1.8 billion. And reporter Charles Bagli points out Tishman-Speyer bought the property for $518 million. Many people that this will be the most expensive single building in the city, breaking Tishman-Speyer's then-record $1.72 billion purchase of the MetLife Building. Factoids: The per-square foot cost of the MetLife building is $604 while the per-square foot cost of 666 Fifth is $1,200. Hey, a Fifth Avenue address can command that.

- Cablevision's $600 million "proposal, Hudson Gardens, would be a largely residential community with 5,800 new apartments and a park. The plan includes moderate-income housing, a school, a library, a hotel, public toilets, theater equipment suppliers, a supermarket and a park -- all with glistening Hudson River views." [Newsday]

News that Columbia has been in talks with Harlem local officials and other city politcos about acquiring 17 acres of land, from 125th Street to 133rd Street, between Broadway and 12th Avenue, to expand its campus interested Gothamist for many reasons. Not only is Columbia our alma mater, it is also one of the largest landowners in the city (the others are the Catholic Church and NYU), and therefore has a huge say in the dynamic of neighborhoods. The relationship between Columbia and Harlem has always been fractured, as Columbia has usually been less interested in getting involve with the community and more concerned with its own interests (example, the Morningside Park gym debacle in the late 1960s). But Columbia's campus is crowded, and could benefit from more buildings, like a new arts center and more dorms. Community officials, thus far, are cautiously optimistic.