Tavros, partners file plans for 22-story building on Dime Savings Bank site

A development site formerly owned by the Dime Savings Bank of Williamsburg is slated to be transformed into a 22-story mixed-use building with residential and commercial space. A partnership between Tavros Development Partners, Charney Construction and 1 Oak Development filed a permit application with the city Tuesday for a new building at 263 South 5th […]

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39-Story, 320-Key Marriott Hotel Rises Above Street Level At 215 Pearl Street, Financial District

Construction is now three stories above street level at 215 Pearl Street, located on the corner of Platt Street in the heart of the Financial District, where a 39-story, 320-key hotel is planned. The construction progress can be seen thanks to photos posted to the YIMBY Forums by user rbrome. The hotel — which YIMBY first reported on in September of […]

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Movable Inc. takes 55K sf at Bryant Park tower

An email marketing firm has inked a 55,000-square-foot lease for an office overlooking Bryant Park. Movable Inc., also known as Movable Ink, is taking the entire ninth floor at Equity Office’s 5 Bryant Park, the Wall Street Journal reported. The firm will move out of its headquarters in the Flatiron District and eventually take over the eighth […]

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Delta Negotiating New Ground Lease at LGA, Gets $600M in Port Authority Funding

Commissioners of the Port Authority of New York & New Jersey voted today to earmark $600 million for its part of building the Delta Air Lines component of the new LaGuardia Airport, with the rest of the $4 billion project under negotiation. Delta has a handshake agreement with the agency, which controls the ground at […]

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Engineering firm tapped to design overhaul of deteriorating Hudson River Park pier

The Hudson River Park Trust announced Wednesday it has selected an engineering firm to design the overhaul of Pier 40—the 15-acre sports, parking and office facility that sits atop 3,500 decaying steel piles on Manhattan’s West Side. Colorado-based Ch2m was tapped by the trust, a quasi-governmental nonprofit that maintains and operates its namesake park, for […]

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Brooklyn is hotspot of summer leasing

Leasing activity in Midtown and Midtown South is slowing down as office tenants continue to cross the East River to Brooklyn. According to CBRE’s second quarter 2016 Office MarketView report, leasing activity in two of Manhattan’s largest office markets declined drastically compared to the same period last year. During the quarter, leasing activity in Midtown […]

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Can developers win in the lending game?

Over the past year, New York’s real estate industry has seen a real peer-to-peer lending boom. A flurry of development firms have launched mezzanine and other debt platforms since mid-2015, blurring the line between lenders and borrowers. The most recent newcomers to the developer-lender arena include Kushner Companies , RXR Realty, Moinian Group and RFR Realty, […]

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M+W Group is ENR New York’s Contractor of the Year

ENR New York has chosen M+W Group as its Contractor of the Year. The firm will be profiled in the July issue of ENR New York, alongside the Top Contractor Survey. M+W Group is a global company that is at the forefront of solar power in upstate New York. In 2015, the firm opened a […]

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Alfa’s Gramercy Condo Lands $114M Construction Loan

Michael Namer’s Alfa Development has snagged a $113.6 million construction loan from Wells Fargo and Santander Bank for its condominium development at 200 East 21st Street. No brokers were involved in the financing deal, which paves the way for the Chelsea-based development firm to construct a 20-story building on the site, according to the Commercial […]

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NYC construction companies saw leaps in revenue in 2015

The 20 biggest companies averaged 14% increase The 20 biggest construction companies in New York City raked in 14.3 percent more revenue last year than in 2014. The firm with the largest gain was Gilbane Building Company, which saw a 171.7 percent increase in its New York-area revenue, Crain’s reported. William Gilbane III, president of […]

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NYC developer abandons on-site power plan

13/07/2016 By Tildy Bayar Associate Editor A New York City housing development’s ambitious on-site power plan has been abandoned after the expiration of a tax incentive. Hallets Point (pictured, artist’s rendition), a planned five-tower residential complex in Astoria in the borough of Queens, was expected to include three cogeneration plants to provide the site with power, […]

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