View from inside the Second Avenue Subway tunnel during a press tour May 1. Photo by Holly Dutton
The MTA recently took members of the press on a tour through the Second Ave Subway tunnel, currently under construction. Phase 1 of the project is set for completion in December of 2016.
Photos by Holly Dutton
Photos by Richard Lewin
On April 30, the Witkoff Group listed a full-floor penthouse at 10 Madison Square West for $35 million. The luxury development designed by architect Alan Wanzenberg recently topped off, and only six residences remain out of 125 total. Douglas Elliman Development Marketing has been leading the sales effort.
Communication and Due Diligence are Keys to Success According to Experts at
The Building Next Door:
The Impact Of Construction On Adjacent Buildings
NEW YORK – April 9, 2014 – On April 9th, New York’s real estate owners and developers, engineering and architecture firms, and construction leaders gathered at the Harvard Club for The Building Next Door: The Impact of Construction on Adjacent Buildings. Hosted by Zetlin & De Chiara LLP, The Steven L. Newman Real Estate Institute, Real Estate Weekly and The New York Building Congress, the event brought together experts to discuss forward-thinking, sophisticated strategies for navigating the complex process of building next to existing structures.
New York City’s age and density make ground-up construction particularly challenging since there is often at least one existing building abutting any new construction site, and adjacent structures can be more than a century old. Panelists with extensive first-hand knowledge of the design, development and construction process offered advice and best practices for those looking to prevent major issues with proactive efforts to protect neighboring buildings.
Moderated by Michael De Chiara, Senior Partner of Zetlin & De Chiara LLP, the Building Next Door program began with a primer by Raymond T. Mellon, Senior Partner at Zetlin & De Chiara LLP, on how to avoid protracted and costly battles with neighboring properties.. Mr. Mellon, a recognized leader on these matters, discussed the critical due diligence issues that developers must address prior to the start of any construction project. Key points included:
- Clear communication with adjacent property owners at the earliest stages of the process is crucial.
- Negotiating and executing a comprehensive license agreement, which includes provisions relating to the scope of work, duration of construction, insurance, access procedures and fees, is the best way to ensure a smooth process.
- If it is not possible to reach a license agreement, developers can take the matter to court to get a temporary license to do necessary inspections and work on adjacent properties but it is always better to avoid this process.
Following Mr. Mellon’s presentation, each member of the distinguished panel provided a personal perspective on the complexities of building next to existing structures:
- Robert Schubert, Senior Vice President of Construction at Boston Properties, presented a case study on his firm’s project at 250 W. 55th Street, a development that, despite extensive due diligence and proper legal procedures, experienced lengthy and costly delays due to the structural issues of neighboring buildings that needed to be addressed prior to the start of construction as well as challenges with adjoining property owners. Mr. Schubert reiterated the importance of early communication and preparation but warned that surprises are inevitable.
- NYC Department of Buildings Assistant Commissioner of Investigative Engineering Services Timothy D. Lynch, P.E. reminded the audience that developers have been recycling properties in New York City for nearly 400 years and that the issue of properly protecting adjacent buildings has been a requirement in the building code since the 1800s. He underscored that the DOB is there to support development and to ensure that it is done safely.
- Stephen DeSimone, President/Chief Executive of DeSimone Consulting Engineers, discussed his personal experience with protracted legal battles over damage done to adjacent buildings during construction. He noted that unfortunately contractual agreements often do not clearly delineate responsibility for any potential damages, creating major headaches for all parties involved.
- Senior Principal Alan Poeppel from Langan, mentioned that his work specializing in excavation and underpinning is riskiest in New York City because of the issues with neighboring properties. Many of the hottest areas for development in the city – FiDi, TriBeCa, the Highline and Far West Side – are filled with older existing buildings, often with poor soil conditions, making supportive work and underpinning very complex. He believes that bifurcating responsibility for the design and engineering work from the construction means and methods would clarify the process, limit liability and improve the efficiency of development.
In late May, The Building Next Door program will be aired on CUNY TV and will also be available by visiting http://www.buildingnextdoor.com/.
Citi Habitats New Developments celebrated the launch of their newest leasing project, “No. 3 at Packard Square,” by hosting a sunset cocktail reception in the building’s rooftop residents’ lounge on Thursday, April 24. Held exclusively for Citi Habitats agents, guests enjoyed a variety of beverages and hors d’oeuvres while admiring the Manhattan skyline views. Building tours were also offered. Leasing at No. 3 Packard Square is off to a fast start. After one week on the market, the development is already 20% leased.
The International Union of Bricklayers & Allied Craftworkers, Local 1 NY (IUBAC Local 1 NY) sponsored the interactive children’s event “Amazing Arches” with the International Masonry Institute (IMI) and in conjunction with the Museum of the City of New York’s exhibition “Palaces for the People: Guastavino and the Art of Structural Tile.” The free four-day program, which ran from April 15, 2014 until April 17, 2014, provided children with a hands-on tutorial assisting in the construction of a Guastavino-style arch. On the Fifth Avenue terrace of the Museum of New York, members of the IUBAC Local 1 NY guided children through the arch construction with tools, techniques and materials used by expert bricklayers. For many of the children, this program was the first opportunity to work with industry-grade materials and be part of an engineering project of this scale.
Stribling & Associates celebrated the launch of Hudson Woods, a boutique new development in the Hudson River Valley region, with Upstate-inspired fare and a beer tasting provided by Mill House Brewing Company. Brooklyn brokers and neighboring business owners visited Stribling’s office at 386 Atlantic Avenue to sample beer, wine and cheese from Upstate New York towns, and get a sneak peek of Hudson Woods. James C. Cox Jr. of Stribling, who is leading sales at Hudson Woods, spoke about the development’s unique architecture, custom finishes and abundant amenities. Once complete, Hudson Woods, a sustainably-designed community, will have 26 custom homes spread over 131 acres of land. The 2,800 s/f base home includes three bedrooms and two bathrooms. Homeowners can select a plethora of upgrades and amenities including an architect-designed treehouse, children’s playhouse, pool, greenhouse, fruit grove and vegetable garden. Prices starts at $665,000.
Photo Credit: Anna Flores, Arch Videography
TerraCRG, Brooklyn’s leading commercial real estate brokerage firm, announced that Only Brooklyn, the annual Real Estate Summit which was held Tuesday at BAM (Brooklyn Academy of Music) in Downtown Brooklyn was a major success.
Dylan Murphy, Brendan Gotch, Jill Lovatt, Michael Azarian and Todd Korren of Massey Knakal.
Day one photos from the annual ICSC RECon conference in Las Vegas, including snaps from the party circuit, which included SCG Retail’s shindig at the Four Seasons, Massey Knakal and Fidelity National Title’s party at Auerole at Mandalay Bay, and Eastern Union’s bash at the Bellagio.
Photos by Holly Dutton
Photos by DeeIsForDogs Photography
For the eighth consecutive year, Coopers Beach in Southampton was filled with color, laughter and hope as supporters, survivors, and Long Island residents came together for Uniting Against Lung Cancer’s annual “Kites for a Cure” on Saturday, May 24.
Approximately 500 lung cancer supporters came out to share the day’s festive mood and fly kites, which resulted in almost $60,000 raised for innovative lung cancer research.
Funds raised from the event itself, along with an underwriting sponsorship from Rechler Equity Partners and The Hampton Business District at Gabreski, will go directly to Uniting Against Lung Cancer’s national lung cancer research grant program. For a donation of $30, guests received a high-quality kite which they were able to decorate on-site with pictures, names, or their own special message. Refreshments were provided by Tate’s Bakeshop, Hain Celestial, and Hint water throughout the afternoon.
“We are proud to support Uniting Against Lung Cancer and contribute to this event’s success year after year,” said Gregg Rechler, managing partner of Rechler Equity Partners, who lost his father, Roger, to lung cancer. “We are all hopeful that with the efforts dedicated to funding research, another person and their family will not have to endure the effects of this terrible disease.”
“The support of the local community, the Village of Southampton, the Southampton Chamber of Commerce and the many local businesses is integral,” continued Mary Ann Tighe, Uniting Against Lung Cancer’s board president. “We truly appreciate their enthusiasm and dedication to our event, and it is with their help that we are a few steps closer to finding a cure.”
Uniting Against Lung Cancer was founded in 2001 in memory of Joan Scarangello, a Southampton resident and non-smoker who lost her battle with lung cancer. The Foundation has awarded more than $11.5 million in research grants to find a cure for the disease that will claim an estimated 160,000 lives in the U.S. this year.
For more information, please visit www.UnitingAgainstLungCancer.org or call 212-627-5500.
HFZ Capital Group and Corcoran Sunshine Marketing Group celebrated the launch of sales at 505 West 19th Street at the luxury condominium development’s new sales office in the Meatpacking District, located at 27 Little West 12th Street. 505W19 features 35 residences spread across two buildings situated along the High Line, with a gallery-like lobby directly beneath the elevated park. 505W19 is the first condominium development completely designed, outside and in, by Danish-born designer Thomas Juul-Hansen. 505W19 offers a mix of residences from 1 through 5 bedrooms including one townhouse and three terraced penthouses. Pricing ranges from approximately $2.3 million to over $20 million.
Photos by onefinedayphotographers
What projects are being funded and how was the topic of a lively discussion at the New York Chapter of Commercial Real Estate Women’s Network’s (NYCREW) latest Industry Spotlight. Held at the offices of Bingham McCutchen, “Commercial Lending 2.0 and Beyond” was moderated by Karen Fiorentino, Fiorentino Law Firm, joined by speakers John Barker, Bank of America Merrill Lynch; Kim Diamond, Kroll Bond Rating Agency; Brett Kaplan, LoanCore; Stephen Melidones, KeyBank Real Estate Capital; Leigh Roumila, Basis Investment Group and Vincent Toye, Wells Fargo & Company.
Keller Williams NYC agents joined an international day of service with Keller Williams RED Day. Pictured here are Tobin Lee, Milan Pinkus, Francine Braese, GieFaan Kim, Haim Binstock, Ryan Olsen, Michelle Bell, Sandy Cheng, Nathalia Duran, Tamara Kaplan, Lisa Joa, Natalie Baghdadi, Sara Lee, Christian Stewart, Randy Reis and Hila Peled
Keller Williams Realty’s celebrated their annual RED Day (Renew, Energize and Donate) last week. Over 700 Keller Williams offices around the world closed to participate in a day of volunteering and giving back to the communities that they are a part of. For Red Day, Keller Williams NYC partnered with Citymeals on Wheels to serve lunches and deliver food to those in need around New York City.
Photos by Richard Lewin and Marc Becker
By Konrad Putzier
Adam Spies, managing director at Eastdil Secured, interviewed JP Asset Management executive director Hillary Spann in an opening keynote presentation at the first annual Real Estate Weekly Young Leaders Forum. Photo by Richard Lewin
Six months after Bill de Blasio took up office, developers are starting to get more comfortable with the new mayoral administration.
“I think we’re starting to get an idea of what the asks will be and I think Domino Sugar was a first flavor,” Simon Koster, managing director at JDS Development, said at Tuesday’s Real Estate Weekly Young Leaders Forum.
Koster admitted “there are many unknowns” about the new administration, adding that JDS Development budgets extra money as an insurance against potential costs from mayoral policies. But he also hailed the new administration’s openness to dialogue.
“There is no question they want the best for the city, and they are willing to talk,” he said. “We’ve had a good dialogue. The question is, where will the end be, but we’ve had pleasant discussions on our projects.”
Ann Carson Blair, a senior manager at Two Trees who was involved in negotiations with the City over a rezoning for its Domino Sugar project, also hailed the administration’s willingness to co-operate.
“They were very easy to work with,” she said. “We were able to sit there through a couple of late nights, but we made concessions and they made concessions — they were willing to concede things.”
Blair admitted that splitting the Domino Sugar approval process between two administrations was “challenging”. The initial approval process for the $1.5 billion mixed-use project in Williamsburg began under de Blasio’s predecessor Michael Bloomberg, while the final negotiations where held with the new administration.
In March, Two Trees agreed to create 700 affordable units (out of a total of 2,800) in exchange for a rezoning that made the project possible. Permits for the development, which will also include 500,000 s/f of office space in the former factory, were filed last week.
Koster and Blair shared the stage with brokers Stephen Palmese (Massey Knakal) and Hal Stein (Newmark Grubb Knight Frank), as well as SL Green’s managing director for retail, Brett Herschenfeld.
Herschenfeld had his own reasons to be happy with the de Blasio administration: last week, the City announced plans for a rezoning to allow the construction of SL Green’s Midtown East office tower 1 Vanderbilt in exchange for investments in public infrastructure.
“It’s a brilliant idea — using private money for benefit of public sector,” he said. “(The tower) would bring light and energy to Midtown East, an area that really needed that.”
Douglas Elliman Real Estate agents Melanie Lazenby and Dina Lewis hosted a children’s party at the duplex penthouse at the Whitman on Madison Square Park. In conjunction with Madison Square Park’s Kid’s Fest 2014 with story telling, music, arts and crafts, kid’s concerts, the Whitman Penthouse was transformed into a VIP rooftop carnival. Agents from Douglas Elliman, Corcoran, Brown Harris Stevens, Sotheby’s, Stribling and Town, along with their families enjoyed a bouncy house, face painter, carnival games, Nathan’s hot dogs, popcorn and balloon artists on the large landscaped terrace of the penthouse facing Madison Square Park. The New Georgian style building, located at 21 East 26th Street, was originally built in 1924 as the corporate headquarters and showroom for textile king Clarence B. Whitman and Sons. Developer David Mitchell purchased the building and along with Jeffrey Cole of Jeffrey Cole Architects and Edward Martell of Maverick Real Estate Partners, transformed it into a four-unit condominium that is available for immediate occupancy. Three of the units have already sold. The penthouse- with its four terraces- is on the market for $23,500,000.
UJA-Federation of New York honored the Olshan family at its Real Estate Luncheon on Thursday, June 12, 2014, at Cipriani 42nd Street, in New York City. The event, which attracted more than 500 leaders in the real estate community, raised $2.1 million for UJA-Federation’s annual campaign to sustain its network of nearly 100 nonprofit agencies that touch the lives of 4.5 million people each year.
Morton Olshan, chairman of Olshan Properties; his wife Carole; and children Andrea, chief executive officer of Olshan Properties, and Michael, founder and managing partner of O-CAP Management, L.P., received the Jack D. Weiler Award in recognition of their outstanding professional achievements and commitment to Jewish philanthropy. Larry A. Silverstein, chairman of Silverstein Properties, Inc., presented the award. Ambassador Ron Prosor, permanent representative of Israel to the U.N., was the guest speaker.
Showing their support for the Olshan family were luncheon chair David E. Simon of Simon Property Group, UJA-Federation Real Estate & Allied Trades Division chair Richard J. Mack of Mack Real Estate Group, Lloyd Goldman of BLDG Management Co. Inc., Burton P. Resnick of Jack Resnick & Sons Inc., and Leonard A. Wilf of Garden Homes.
On Thursday, June 12, Douglas Elliman hosted a Summer Season Kickoff at The Venue @ 409 (409 W. 14th Street) to celebrate the company’s TV stars, including Million Dollar Listing New York’s Fredrik Eklund and Luis D. Ortiz and Million Dollar Listing Miami’s Chad Carroll and Chris Leavitt. Top-producing New York agents Fredrik Eklund and Luis D. Ortiz just finished a successful third season of Million Dollar Listing New York, with the season finale airing this past week. Chris Leavitt and Chad Carroll, Elliman’s top-producing agents in Miami will begin their first season of Million Dollar Listing Miami on June 25th. Guests in attendance included President and CEO of Douglas Elliman, Dottie Herman, Chairman of Douglas Elliman, Howard Lorber, Chief Operating Officer of Douglas Elliman Stephen Kotler, CEO of the Florida brokerage, Jay Parker and other Elliman agents and employees.
REBNY’s Residential Breakfast Club met yesterday morning to present “Offering Plans,” a seminar featuring guest speakers Anne Sullivan Young of Brown Harris Stevens and Bruce Cohen, Esq. of Cohen & Frankel, LLP.
The 90-minute seminar kicked off with Young sharing her knowledge on how to achieve success, citing curiosity and passion as the two most important qualities needed to reaching that goal.
“Stay abreast of the market you think is the best,” she advised. “For me, right now it’s Brooklyn. But in new developments, there are always many caveats. Also, know who the seller is. That way, brokers can do research on value and reputation.”
Cohen spoke for a majority of the seminar, presenting a slideshow accompanying his talking points. He taught attendees about the do’s and don’ts of offering plans, as well as types of sponsor deals and a few inside tricks regarding new construction. He particularly stressed the urgency of new development offering plans, calling it a “take it or leave it today” situation. According to Cohen, there is little to no negotiating with buyers.
“Never quote the square footage,” he said. “I can’t tell you how many people I hear getting sued because they quoted square footage without taking into account the square foot loss factor. In New York City, it’s measured from the exterior brick, which is something a lot of people don’t know.”
“If there’s one thing to take away from this seminar,” he added, “it’s to be prepared. Get your client prepared, and always get consultation.”
Jim O’Connor, President of Douglas Elliman Property Management (DEPM) was honored on June 5 at The Bridge’s 60th Anniversary gala at the landmark Pierre Hotel. The event raised $466,000 to help support the broad range of mental health and housing services the non-profit provides to more than 2,300 New Yorkers every year.
In addition to his role as President and Executive Managing Director at DEPM, Jim is a member of the Real Estate Board of New York (REBNY), where he serves on the Residential Management Committee. He is also a Trustee of the Realty Advisory Board (RAB), and a member of their negotiating committee on labor contracts. He is on the Board of the Apartment Owners Advisory Council, and a member of the New York Building Managers Association. Jim is a proponent of affordable housing, and has helped raise funds for numerous New York charities. For his service to the real estate industry, his volunteer involvement, and his commitment to The Bridge, he was chosen as this year’s Individual Partner in Caring.
Also honored this year was Cynthia Wainwright, Board President of The Bridge, who received the first ever Curtis Berger Award, for “her leadership, magnificent generosity of spirit, and dedication to The Bridge and the New York City area.” Cynthia has served on the Bridge Board for 30 years, and as its President for 20 years. She has also served on several other non-profit boards in New York City, including The Churchill School and Center for children with learning disabilities and the Children’s Museum of the Arts.
Dr. Peter Beitchman, DSW, LMSW, who is retiring this year after serving for 14 years as The Bridge’s CEO, received the Mental Health Award, presented by Manhattan Borough President Gale Brewer. Peter has been involved in the mental health system for 45 years, including 30 years with The Bridge. He has held key positions with both City and State mental and behavioral health agencies, and is an adjunct faculty member at both the Columbia and Hunter College School of Social Work. Peter was honored “for his vision, inspiring leadership and dedication to the mental health field and The Bridge.”
Stephen Berger, Albert Mayas, James Miller, Elly Pateras and Howard Rothschild co-chaired this year’s gala, which included live music by “Midlife Crisis,” along with fortune tellers, a magician, and models dressed in ‘50s-style clothing to mark the era when The Bridge was founded. A silent auction of paintings by The Bridge Group Artists raised additional funds for the evening. The award plaques and invitations featured a beautiful painting titled “111 Morris Urban Farm” by Bridge Group Artist Michael Blamo.
Jenna Wolfe of NBC’s Today show acted as Master of Ceremonies, and Senator Kirsten Gillibrand made an appearance by video to congratulate Cynthia Wainwright on her award. Richard Cotto, a Bridge client, spoke to the room of 425 supporters and honorees about his journey fighting homelessness, mental illness and substance abuse, and how The Bridge’s programs and services had saved his life.
For more information about the bridge, visit TheBridgeNY.org. For more information about Douglas Elliman Property Management, one of New York’s oldest and most comprehensive property management companies, visit EllimanPM.com.
Some of Manhattan’s top townhouse brokers attended the official launch of Extell Development Company’s Carlton House Townhouse, a 10,000-square foot townhouse listed for $65M.
