DOCSLIB.ORG

Pitchbook US Template

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Pitchbook US Template Presentation to the New York Building Congress Hudson Yards – Project Update September 12, 2012 Hudson Yards Project Area Hudson Yards Area is bounded by West 43rd Street, 7th & 8th Avenues, West 30th Street and 12th Avenue HUDSON YARDS DEVELOPMENT CORPORATION 1 The Redevelopment Opportunity Looking north from West 28th Street Looking east from West 31st Street Antiquated and restrictive zoning Poor mass transit access No public open space Large tracts of under-developed land devoted to public transportation uses HUDSON YARDS DEVELOPMENT CORPORATION 2 The HY Idea Takes Shape Master Plan: City Planning Special Jacob K. Javits Caemmerer West Side Commission Study of Convention Center Yard released by the the Hudson Yards Area District Created (1990) MTA (1988) (1993) •Plan proposed a mixed-use •Established to facilitate mixed-use •Shaping the City’s Future report development of the MTA Rail Yards development adjacent to the Javits concluded that expanding existing and the block south of the Javits Convention Center CBDs was essential to Convention Center accommodate long-term growth •Permitted FAR as high as 10 for •Report concluded a rezoning was residential, office, hotel, and •Hudson Yards was identified as an necessary to permit a floor area ratio community facility uses on sites extension of the Midtown CBD of 12 to support the plan surrounding the Javits plaza •Report concluded that the City must •Success of plan contingent upon •No development resulted ensure “that appropriate as-of-right extension of rapid transit access to zoning is in place to accommodate the area expansion and future office needs.” •The report suggested extending the No. 7 Subway west through Hudson Yards and on to New Jersey HUDSON YARDS DEVELOPMENT CORPORATION 3 The HY Project Plan Evolves DCP Study of •Study linked land use and future development with expansion of mass transit •Existing conditions analysis of HY area focused on land use, transportation infrastructure and services, and the Extending the No. 7 area’s tax base Subway Line to •Transportation analysis of whether the street network could support additional development Hudson Yards (1999) •Identified the need for a “self-financing” model for the subway extension •Identified the need for a transit-oriented mixed-use extension of the Midtown CBD Far West Midtown: A •Established three essential components for redeveloping the HY area: Framework for •Rezoning to allow for millions of square feet of mixed-use development Development (2001) •Construction of the No. 7 Subway Extension •Creation of open space amenities to attract businesses, residents, and visitors Master Plan (2002) •DCP and NYCEDC engaged a multi-disciplinary urban design team to create a master plan for HY in 2002 •City of New York hired consultants Economics Research Associates (ERA) and Cushman & Wakefield (C&W) to Demand Study (2002) forecast long-term growth of office-using employment (OUE) and to analyze HY’s ability to capture future demand for Class A office space in Midtown Preferred Direction •DCP releases Preferred Direction Plan for HY in 2003 Plan (2003) •PDP confirmed the need for the three project components outlined in the 2001 Far West Midtown report HUDSON YARDS DEVELOPMENT CORPORATION 4 The Public Sector Organizes City creates the administrative structure to execute the HY plan HUDSON YARDS INFRASTRUCTURE CORPORATION HUDSON YARDS DEVELOPMENT CORPORATION . Created in 2004 . Created in 2005 . Oversees project financing and cost containment . Responsible for the implementation of City’s HY development program . Board members: . Board members: . OMB Budget Director . All five HYIC Board Members, plus: . Commissioners of SBS, Parks, HPD and City . Deputy Mayor for Operations Planning . Deputy Mayor for Economic Development . President, NYCEDC . City Comptroller . Manhattan Borough President . Council Member for District 3 . Speaker of City Council . Community Board 4 Chair . Staffed by City’s Office of Management and Budget . 9 full-time employees HUDSON YARDS DEVELOPMENT CORPORATION 5 The 2005/2009 Rezonings 10/12 42nd St. 10/15 10/12 Land Use 7.5 10/20 10/18 Predominantly 6.5/ residential 13 6.5/15 6 6 6.5(10)/12 10/21.6 Mixed use 10/24 10/24 Predominantly 34th St. Commercial 10/33 10/33 6.5(10)/13 Open space 11 10/ 12/19 10 10/19.5 10 21.6 Cultural Ave. Ave. th th 8 10 HUDSON YARDS DEVELOPMENT CORPORATION 6 Construction of No. 7 Subway Extension and Hudson Park & Boulevard HUDSON YARDS DEVELOPMENT CORPORATION 7 No. 7 Subway Extension - The Nation’s Largest Transit-Oriented Development Project From left to right (clockwise): Completed subway running tunnel; West 34th Street Station mezzanine; the entrance to the new subway station located on West 33rd Street, between 10th and 11th Avenues HUDSON YARDS DEVELOPMENT CORPORATION 8 Hudson Park & Boulevard 36TH ST 35TH ST 34TH ST Hudson Park and Boulevard → Clockwise: Block #1 (West 33rd/34th Streets); Block #2 (West 34th/35th Streets); and schematic design of park and boulevard; 33RD ST HUDSON YARDS DEVELOPMENT CORPORATION 9 Forecasting Future Development As a result of the 2005/2009 rezonings, Hudson Yards district can now accommodate : 25 million square feet of new office development 20,000 units of new housing 2 million square feet of new retail 3 million square feet of new hotel 2011 Hudson Yards Demand Report prepared by Cushman & Wakefield projects that demand for new development in Hudson Yards district will result in full build-out by 2041 Developers have invested approximately $6.3bn to build 9.1 million square feet of new office, residential and hotel development in Hudson Yards since the 2005 rezoning HUDSON YARDS DEVELOPMENT CORPORATION 10 Private Sector Development: Residential and Hotel Construction in HY Since 2005 Residential Developments Hotel Developments Yotel, 570 Tenth Avenue The Orion, 350 West 42nd Street (Extell Development) 3,000 new hotel rooms completed since 2005, with 539 new hotel rooms under construction. Notable projects include: MiMA, 440 West 42nd Street (Related Companies) Yotel (2011) – First U.S. location for European concept of “pod- More than 5,000 apartments built since style” accommodations 2005, including 1,600 affordable housing units: – 669-room property opened in June 2011 as part of MiMA, Related’s $800 million mixed-use project on MiMA (2011) West 42nd Street (between Dyer and Tenth Avenues) 500 rental units; 151 luxury condos Three adjoining hotels on West 40th Street opened in The Orion-West 42nd Street (2005) 2009 and 2010 551 luxury condos – Fairfield Inn (244 rooms) 505 West 37th Street (2010) – Four Points by Sheraton (248 rooms) 855 rental units – Staybridge Suites (310 rooms) Silver Towers, 600 West 42nd Street Silver Towers (2009) (Silverstein Properties) 1,349 rental units Silver Towers, 600 West 42nd Street (Silverstein Properties) HUDSON YARDS DEVELOPMENT CORPORATION 11 Residential Projects in the 2012 Pipeline Address Developer # of Units 605 West 42nd Street Moinian Group/Rose 764 Associates 10th Avenue at West 41st Street Extell Development Company 600 509 West 38th Street Iliad Realty 250 West 36th Street (between 10th Lalezarian Developers 200 and 11th) 500 West 30th Street Related Companies / Abington 400 Properties Total 2,214 HUDSON YARDS DEVELOPMENT CORPORATION 12 The Midtown CBD Moves West The future of West 34th Street and 11th Avenue, as envisioned by The Moinian Group (left) and the Extell Development Company (above). The planned state-of-the-art mixed-use towers are north of the Related Companies’ rail yards development. HUDSON YARDS DEVELOPMENT CORPORATION 13 Hudson Yards: 2013/2014 The new 34th Street and 11th Avenue Station will accommodate up to 30,000 peak-hour riders when Hudson Yards is fully developed HUDSON YARDS DEVELOPMENT CORPORATION 14 Hudson Yards: 2013/2014 Hudson Park and Boulevard → From left (clockwise): Block #1 (West 33rd/34th Streets); Block #2 (West 34th/35th Streets); and Block #3 (West 35th/West 36th Streets) HUDSON YARDS DEVELOPMENT CORPORATION 15 .
Load more

Recommended publications
  • Kuafu Properties Announces Acquisition of One Mima Tower
    For Immediate Release 中文版请继续阅读 Contact: DKC Public Relations Ed Tagliaferri – 212 981 5182 [email protected] KUAFU PROPERTIES ANNOUNCES ACQUISITION OF ONE MIMA TOWER Luxury rental collection, with one of the largest amenities package in NYC, to be converted to one-of-a-kind condominiums New York – (July 6, 2015) – Kuafu Properties, a New York-based, full-service development and investment management platform, announced today that it has entered into contract to acquire One MiMA Tower, the 151 luxury residences consisting of the top 13 floors of the mixed-use project MiMA, developed by Related Companies. The residences, offering spectacular views from over 500 feet up, were originally planned as condominiums and are currently ultra-luxury rentals, achieving some of the highest rents in New York City. Kuafu Properties intends to bring fresh vision and introduce the residences as for sale condominiums. Located at 460 West 42nd Street at the gateway to Hudson Yards and Manhattan’s dynamic Hudson Yards neighborhood, One MiMA Tower has been one of the most iconic collection of residences in New York City since opening in 2012. Located atop MiMA, One MiMA Tower has its own entrance lobby, elevators and commanding views. It has been positioned as an even more distinguished luxury rental than the already very high-end residences at MiMA. One MiMA Tower is well-known for its spectacular Hudson River and Manhattan skyline views, as well as one of the largest residential amenity packages in Manhattan, covering over 44,000 square feet. Every amenity is provided for on premises. This, coupled with LEED Gold Certification, promotes a healthy lifestyle for residents with a resident-only fitness club managed by Equinox, swimming pool, full-size basketball court, outdoor terraces and catering kitchen.
    [Show full text]
  • FOR IMMEDIATE RELEASE January 31, 2012 No. 38
    THE CITY OF NEW YORK OFFICE OF THE MAYOR N EW YORK, NY 10007 FOR IMMEDIATE RELEASE January 31, 2012 No. 38 www.nyc.gov MAYOR BLOOMBERG OPENS NEW 70,000-SQUARE-FOOT PERSHING SQUARE SIGNATURE CENTER ON MANHATTAN’S FAR WEST SIDE Frank Gehry-Designed Space for Signature Theatre Company Will Provide Artistic Home for Up To 11 Playwrights Each Season And Innovative Ticket Program with All Seats $25 Mayor Michael R. Bloomberg and Signature Theatre Founding Artistic Director Signature James Houghton today opened The Pershing Square Signature Center, the new, permanent home for Signature Theatre designed by Frank Gehry. Spanning a city block at 42nd Street between Dyer and 10th Avenues, the Center features three theatres, a studio theatre, rehearsal studio, and a public café, bar and bookstore. The Center serves as both a theatre community hub and a neighborhood destination, and has been designed to foster interaction among playwrights, collaborators and the public. The project is being funded through a public- private partnership and will be staffed by more than 400 people annually. The announcement was made in the new theatre, where Mayor Michael Bloomberg was also joined by First Deputy Mayor Patricia E. Harris, Cultural Affairs Commissioner Kate D. Levin, Council Speaker Christine C. Quinn, Representative Jerrold Nadler, Council Member Jimmy Van Bramer, Signature board member and actor Edward Norton, Pershing Square Foundation Chairman William Ackman and Related Companies Chairman and CEO Stephen M. Ross. Designed by Gehry, working hand-in-hand with Signature Theatre leadership and Architect of Record H3 Hardy Collaboration Architecture, the 70,000-square-foot Pershing Square Signature Center features three theatres of different character and configurations, providing playwrights a number of dynamic performance areas in which to set their work.
    [Show full text]
  • Manhattan New Development Report
    JUNE 2016 Manhattan New Development Report MANHATTAN NEW DEVELOPMENT REPORT June 2016 New Buildings by Neighborhood Condominium development has largely centered on Midtown over the past several years, but there will be a wave of new construction and conversions in the Financial District in the near future, with large buildings such as 50 West Street, One Seaport and 125 Greenwich Street contributing to the roughly 1,250 new apartments slated for the neighborhood. NEW DEVELOPMENT KEY: UNITS: 10+ 50+ 100+ 150+ 200+ Unit Count NEIGHBORHOOD # OF UNITS NEIGHBORHOOD # OF UNITS Financial District 1,251 Broadway Corridor 264 Midtown West 1,229 Murray Hill 249 Lower East Side 912 East Village 207 Riverside Dr./West End Ave. 881 Chelsea 201 Flatiron/Union Square 499 SOHO 165 Gramercy Park 494 Central Park West 160 Tribeca 493 West Village 125 Midtown East 345 Beekman/Sutton Place 113 Yorkville 282 Carnegie Hill 105 2 June 2016 MANHATTAN NEW DEVELOPMENT REPORT Summary Condominium development is a multi-billion dollar business in Manhattan, and new apartment sales are poised to reach a level not seen since last decade’s boom cycle by 2018. While fewer developers in 2016 are signing on to build sky-grazing towers with penthouses that cost $100 million or more, condominium prices are still on an upward trajectory, with anticipated sales totaling roughly $30 billion through 2019. In total, 92 condominium projects with roughly 8,000 new apartments are under construction or proposed. Total New Development Sales (in Billions) $14B $12B $10.3B New development sales $10B totaled $5.4 billion last year, $8.4B up significantly from the $4.1 $8B billion in sales recorded in 2014.
    [Show full text]
  • July 27, 2011 Ricky Wong Special
    CITY OF NEW YORK MANHATTAN COMMUNITY BOARD FOUR nd th 330 West 42 Street, 26 floor New York, NY 10036 tel: 212-736-4536 fax: 212-947-9512 www.nyc.gov/mcb4 COREY JOHNSON Chair ROBERT J. BENFATTO, JR., ESQ. District Manager July 27, 2011 Ricky Wong Special Applications Unit NYC Department of Consumer Affairs 42 Broadway New York, NY 10004-1716 Re: Newsstand application (LICENSE #1396324) Dear Mr. Wong: Manhattan Community Board 4 (CB4) recommends a denial of a proposed newsstand to be located on West 42nd Street at the southwest corner near Dyer Avenue. We reject this application for two reasons: The plan provided by the applicant did not reflect all sidewalk obstructions (like tree pits) and adjacent building particulars (service doors). The measurements used for distance to entrances did not follow the newsstand rules that clearance be measured parallel to the curb from a line drawn between the curb and the nearest edge of such entrance (rather than from the actual entrance). Under these rules, the location does not have the proper clearance. This is particularly important given the substantial number of apartments in the building near the newsstand (MiMA) and the proposed location across from the buildings’ entrance and service doors. Please note. the majority of the sidewalk on the south side of West 42nd Street between Dyer and Tenth Avenues is still fully blocked and under construction. We would welcome an application from the proposed newsstand operator in September, when sidewalk construction should be completed and after he has time to properly prepare the drawings and identify a location that meets newsstand placement rules related to distance from entrances.
    [Show full text]
  • 2016 | Nmhc 50 5 2016 Top Apartment Managers
    2016 The nation’s 50 largest apartment owners and management firms—plus top 25 developers and general contractors A SPECIAL SUPPLEMENT TO MULTIFAMILY EXECUTIVE CONNECTED CAPITAL MULTIFAMILY ADVANTAGE RIVERTOWER SEATTLE MULTIFAMILY PORTFOLIO New York, NY Seattle, WA • $390 million sale • PLOOLRQÀQDQFLQJ • 311 units • Five properties / 1,041 units THE GRAMERCY AT METROPOLITAN PARK Arlington, VA • $190 million sale • 399 units THE MARKHAM APARTMENTS Cupertino, CA • PLOOLRQÀQDQFLQJ • 504 units ONE MiMA TOWER New York, NY WA/OR MULTIFAMILY PORTFOLIO • PLOOLRQVDOH • 151 units WA & OR • PLOOLRQÀQDQFLQJ • Six properties / 1,413 units With more than $46 billion in multifamily capital markets engagements in 2015, we are connecting leading global investors to PRUHPXOWLIDPLO\RSSRUWXQLWLHVLQPRUHPDUNHWVWKDQDQ\RWKHUFRPPHUFLDOUHDOHVWDWHVHUYLFHVÀUPLQWKHZRUOG+RZFDQZH help transform your real estate into real advantage? CBRE CAPITAL MARKETS INVESTMENT SALES • DEBT & STRUCTURED FINANCE • CAPITAL ADVISORS A Rigorous and Tested Investment Process, Strategy and Tactics. Targeting Properties Coast-to-Coast. 5(.JTBOJOWFTUNFOUBEWJTPSZæSNXJUIBTJOHMFGPDVTmultifamily properties.0OCFIBMGPGJUTDMJFOUT TGM acquires, manages and sells apartment properties throughout the United States.8FBSFGVMMZJOUFHSBUFEUP achieve tighter control, better returns and mitigate risk. To learn more, visit www.TGMAssociates.com The Focused Resource for Apartment Investors Properties Owned & Managed by TGM since its inception in 1991 TGM Springbrook TGM Creekside Village TGM Bermuda Island TGM
    [Show full text]
  • An Evaluation of the Costs and Benefits of New York City's Hudson Yards Redevelopment Project
    An Evaluation of the Costs and Benefits of New York City’s Hudson Yards Redevelopment Project Michael Meola Eric Kober Kei Hayashi March 13, 2019 An Evaluation of the Costs and Benefits of New York City’s Hudson Yards Redevelopment Project Michael Meola Eric Kober Kei Hayashi March 13, 2019 Executive Summary: • The City’s goal to transform the Hudson Yards District from a largely vacant, underdeveloped transportation and distribution zone into a vibrant mixed-use, medium to high density district of workers, residents and visitors is being achieved ahead of projections, with over 30 million square feet of new development completed or in construction since the rezoning in 2005 • The $3.5 billion infrastructure investment that the City made, or has committed to fund, through Hudson Yards Infrastructure Corporation (HYIC) bonds to facilitate this transformation is paying off as the essential first step to attract vast private investment in the District that otherwise would not have occurred • Tax abatements in Hudson Yards are consistent with long-standing City practice to stimulate development where it is not occurring, and have contributed to the viability of commercial development in a previously fringe location • City payments to cover interest on HYIC’s bonds from 2007 to 2018 totaled $358 million; it is now estimated that future revenues from the District will not only pay off the bonds but will generate more than $21 billion in net revenues to the City • The opening on March 15th of the Related/Oxford Hudson Yards Project, the largest in the City’s history, built over the MTA Rail Yard on a billion-dollar privately funded platform, is the symbol of this remarkably successful public/private development that evidences the enormous strength of the City’s economy • The MTA has received over $1.2 billion for its property over the MTA Rail Yard and retains valuable development rights that it will be able to sell in the future • Additional benefits to the City include extension of the No.
    [Show full text]
  • SCG America and Kuafu Properties Launch Sales at Manhattan View at Mima
    For Immediate Release 中文版请继续阅读 Contact: Optimist Consulting Yael Goldman, Leslie LeCount SCG America and Kuafu Properties Launch Sales at Manhattan View at MiMA First Condominium Project by Beloved Interior Designer Jamie Drake Features 151 Luminous Residences Inspired by Quintessential New York Glamour and 360-Degree Skyline Views New York, NY – (May 13, 2016) – Co-developers SCG America and Kuafu Properties today announce that sales are underway at Manhattan View at MiMA, the highly-anticipated new luxury condominium atop the MiMA development with a private entrance at 460 West 42nd Street. Envisioned by celebrated interior designer Jamie Drake of Drake / Anderson, in his first condominum project, Manhattan View introduces 151 exquisite residences that pair remarkable river-to-river views with an unprecedented 44,000 square feet of exclusive resident amenities to offer the ultimate in city living. “There is a need in the market for well-priced condominiums that don’t compromise on design or service, and Manhattan View at MiMA fills that void – and then some. We are thrilled to offer buyers a total package of signature-designed finishes by one of today’s most celebrated designers, breathtaking floor-to-ceiling views, and over an acre of onsite amenities all for a competitive price with the added perk of lower carrying costs because MiMA is a mixed-use property,” said Winfred Zhang, President and CEO of SCG America. “We are thrilled to have collaborated with SCG America and a designer of Jamie Drake’s caliber to introduce Manhattan View at MiMA, a compelling buyer proposition at the intersection of some of the most dynamic New York neighborhoods,” said Shang Dai, Chief Executive Officer and Managing Partner of Kuafu Properties.
    [Show full text]
  • In the Heart of Welive, a New Apartment Tower in the Financial District Created by the Office Space Provider Wework, Is a Communal Area Known As the Whiskey Lounge
    The Kava Cafe, a restaurant and coffee shop on the ground floor of MiMA on West 42nd Street, is a popular gathering place. CreditBenjamin Petit for The New York Times In the heart of WeLive, a new apartment tower in the financial district created by the office space provider WeWork, is a communal area known as the Whiskey Lounge. The intimate space — in a prime spot off a communal kitchen, lounges and a central staircase — looks like an old speakeasy, with warm lighting, leather seats and a polished bar. Bartenders from a rotating list regularly take over the space, which seats 15 people but can pack in as many as 25. One week this spring there were three events: a curated whiskey tasting held by WeWork’s own bartenders, a wine tasting by a vineyard, and a caipirinha night hosted by Leblon Cachaça, an artisanal liquor brand from Brazil. When bartenders aren’t in residence, tenants can bring bottles and mix their own cocktails using a number of supplies, from shakers to bitters, stocked in the bar. Residents gather there after a long day at work or before going out, often inviting friends from outside the building. “You tell your friends this is my little unique space, and people love it,” said Quinton Kerns, a 31-year-old WeLive designer who lives in the building. “It’s not something you see very often in a residential building.” While such places are still a novelty, more and more new residential buildings nationwide are offering creative bars — for coffee or alcohol — for their residents.
    [Show full text]
  • HY Fieldguide 2017.Pdf
    The New Heart of New York Manhattan is getting a dramatic makeover. Meet Hudson Yards, the new neighborhood that is transforming the skyline and giving us all one more reason to love this city. Enjoy! #HelloHudsonYards 3 Hudson Yards Field Guide 4 Columbus Circle Central Park W 52ND ST W 52ND ST W 52ND ST HUDSON YARDS: THE NEIGHBORHOOD MIDTOWN OFFICE RETAIL RESIDENTIAL HOTEL ARTS PARKS 9 10 Intrepid Sea, HELL’S Air & Space KITCHEN 8 4 mes Square Museum W 42ND ST 12 11 3 Port Authority Bryant Park 10 MIN 7 6 AY 2 ROADW B 7TH AVE 8TH AVE Javits 11TH AVE 10TH AVE 9TH AVE 5 MIN Center Hudson 5 1 Park & Blvd W 34TH ST W 34TH ST W 34TH ST Empire Penn Station State Building North River Tunnels Hudson Moynihan Madison 1. Abington House (Open) 5. One Hudson Yards (Open) Yards Station Square Use: Residential Use: Residential Garden Future Amtrak Gateway Tunnel 2. 10 Hudson Yards (Open) 6. The Shed 895 feet tall 6 levels e High Line Use: Commercial Office, Retail Use: Cultural Center Tenants: Boston Consulting Group, Hudson Coach Inc., Intersection, L’Oréal USA, 7. 15 Hudson Yards River Park Madison SAP, Sidewalk Labs, VaynerMedia 910 feet tall Square Park Residential W 23RD ST W 23RD ST W 23RD ST Use: CHELSEA 3. The Shops & Restaurants FLATIRON at Hudson Yards 8. 35 Hudson Yards DISTRICT 7 levels 1,000 feet tall Chelsea Use: Retail, Food & Beverage Use: Commercial Office, Residential, Retail, Piers Tenants: Neiman Marcus, AG Jeans by Equinox® Hotel with Spa and Fitness Club Adriano Goldschmied, Aritzia, Athleta, Banana Republic, The Body Shop, 9.
    [Show full text]
  • July 24, 2015 Ms. Margaret Forgione Manhattan Borough Commissioner
    CITY OF NEW YORK MANHATTAN COMMUNITY BOARD FOUR nd th 330 West 42 Street, 26 floor New York, NY 10036 tel: 212-736-4536 fax: 212-947-9512 www.nyc.gov/mcb4 CHRISTINE BERTHET Chair Jesse Bodine District Manager July 24, 2015 Ms. Margaret Forgione Manhattan Borough Commissioner NYC Department of Transportation District Manager59 Maiden Lane, 35th Floor New York, NY 10038 Re: Intercity bus stop – 327 West 42nd Street Dear Commissioner Forgione: We appreciate the opportunity to review the application for a bus stop for 53 departures per weekday, at 327 West 42nd Street, from Galaxy Towers, Inc., Fuji Express Inc., Fuji Lines, Inc., and Three Aces Transportation Inc., (dba SPHINX) commuter buses. Based off of the application, dated July 7, 2015, and enclosed along with this letter, Manhattan Community Board 4 (MCB4) recommends that the bus stop at this location be denied and proposes that the stop be established on 41st Street at the Northwest corner of 41st Street and Dyer Avenue, which is better suited for such operation. The operator opposes the MCB4 proposed location. Should the Department of Transportation (DOT) approve the stop at 327 West 42nd Street in spite of our opposition, we ask they do so only if all the stipulations described below are included in writing in the licenses, in order to mitigate the potential negative effects of this decision. Background MCB4 has long been a supporter of bus travel, which reduces the amount of vehicular traffic in the city. As an example, in 2010 MCB4 advocated and obtained 70 parking spaces to be located in our neighborhood for bus companies.
    [Show full text]
  • The 10 Most Valuable Manhattan Condo Filings Accepted in 2016
    1/3/2017 Manhattan Condos | Condos NYC | 15 Hudson Yards The 10 most valuable Manhattan condo filings accepted in 2016 Related Companies’ 15 Hudson Yards tops the list with a projected sellout of $1.7B December 30, 2016 04:00PM By Miriam Hall « PREVIOUS NEXT » Clockwise from left: 161 Maiden Lane, 15 Hudson Yards, 70 Vestry Street, 460 West 42nd Street and 90 Morton Street What a difference a year makes. In 2015, seven Manhattan condominium plans projecting total sellouts north of $1 billion were accepted by the New York State Attorney General’s Office. But this year, only one Manhattan project crossed the billion­dollar mark, and developers abandoned several condo projects with projected sellouts north of $100 million. Related Companies has a hand in the two priciest condo developments accepted in 2016. The developer is shooting for a whopping $1.7 billion sellout at 15 Hudson Yards, the first residential tower at the Far West Side megaproject, and aiming for a more subdued $697.7 million at 70 Vestry Street in Tribeca. It’s been a rocky year for Manhattan’s residential market. In the third quarter of 2016, sales dropped 18.6 percent year­over­year. Only 17 percent of properties went for above the listing price, compared to 31 percent in the same period of 2015. The high­end part of the market, in particular, has been suffering, and many developers across the city are shifting their focus to the $1 million to $3 million market. We looked at Manhattan’s condo offering plans accepted by the Attorney General in 2016, and ranked the top 10
    [Show full text]
  • 11-13702-Smb Doc 164 Filed 03/20/12 Entered 03/20/12 12:45:16 Main Document Pg 1 of 21
    11-13702-smb Doc 164 Filed 03/20/12 Entered 03/20/12 12:45:16 Main Document Pg 1 of 21 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK ------------------------------------------------------X In re: : : Chapter 11 785 PARTNERS LLC, : Case No. 11-13702 (SMB) : Debtor. : ------------------------------------------------------X MEMORANDUM DECISION REGARDING VALUE OF DEBTOR’S BUILDING A P P E A R A N C E S: PROSKAUER ROSE LLP Eleven Times Square New York, NY 10036-8299 Sheldon I. Hirshon, Esq. Michael T. Mervis, Esq. Craig A. Damast, Esq. Lawrence S. Elbaum, Esq. Of Counsel Attorneys for Debtor and Debtor in Possession SILVERMANACAMPORA LLP 100 Jericho Quadrangle, Suite 300 Jericho, NY 11753 Gerard R. Luckman, Esq. Jay S. Hellman, Esq. Of Counsel ― and ― SCHIFF HARDIN, LLP 666 Fifth Avenue, 17th Floor New York, NY 10103 Thomas P. Battistoni, Esq. Louis T. DeLucia, Esq. Of Counsel Attorneys for First Manhattan Developments REIT 11-13702-smb Doc 164 Filed 03/20/12 Entered 03/20/12 12:45:16 Main Document Pg 2 of 21 STIEFEL & COHEN 770 Lexington Avenue New York, NY 10065 Philip P. Foote, Esq. Of Counsel Attorneys for Martin McGinn, Aileen McGinn JOHN H. SNYDER PLLC 555 Fifth Avenue, Suite 1700 New York, NY 10017 John H. Snyder, Esq. Attorneys for Times Square Construction & Development STUART M. BERNSTEIN United States Bankruptcy Judge: The Debtor seeks to confirm its plan in this single asset real estate case, and First Manhattan Developments REIT (“First Manhattan” or “FM”), the principal secured creditor, has filed objections. The amount of First Manhattan’s claim and the value of the Debtor’s building (the “Building”) represent two of the most significant and contentious issues in connection with the confirmation of the plan.
    [Show full text]