Manhattan West Is Essentially a New City, a Remarkable, Multifaceted Neighborhood That’S Been Created There
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410 WEST 36TH STREET 6 STORY, 23 UNIT MIXED-USE BUILDING 20 Residential Units & 3 Commercial Units
410 WEST 36TH STREET 6 STORY, 23 UNIT MIXED-USE BUILDING 20 Residential Units & 3 Commercial Units. 410 WEST 36TH STREET 1 410 WEST 36TH STREET - PROPERTY FEATURES Penn Station Madison Square Park The Highline ASKING PRICE: $10,250,000 Property Features: Location: The south side of West 36th Street between 9th & 10th Avenues. Block & Lot: 733-44 Lot Dimensions: 25' x 98.75' Lot Square Footage: 2,469 sq ft (approx.) Building Dimensions: 25' x 87' Building Square Footage: 11,455 sq ft (approx.) Stories: 6 Residential Units: 20 Commercial Units: 3 Total Units: 23 Gross Residential Square Footage: 9,546 sq ft (approx.) Net Square Footage: 8,114 sq ft (approx.) less 15% loss factor Avg. Net Unit Size: 406 sq ft (approx.) Gross Commercial Square Footage: 1,909 sq ft (approx.) Zoning: C1-7A / HY Residential FAR: 6.02 (Wide Street) Total Buildable Sq. Ft.: 14,863 sq ft (approx.) Minus Existing Structure: 11,455 sq ft (approx.) Available Air Rights: 3,408 sq ft (approx.) Assessment (17/18): $1,185,615 Taxes (17/18): $152,849 Financial Summary: GROSS ANNUAL REVENUE: $732,043 PRICE PER SQUARE FOOT: $895 VACANCY LOSS & EXPENSES: $240,171 PRICE PER UNIT: $445,652 NET OPERATING INCOME: $491,872 CAPITALIZATION RATE: 4.80% 2 PROPERTY OVERVIEW Property Description Cushman and Wakefield, Inc. has been retained on an exclusive basis to arrange for the sale of 410 West 36th Street, a 6-story mixed-use walkup located in Hudson Yards, one of the most dynamic neighborhoods in Manhattan. With record levels of equity pouring into real estate in the immediate neighborhood, this is a rare investment opportunity to purchase a well maintained, core Manhattan multifamily property that has potential to capitalize on upside in both residential and commercial rents. -
High Line Effect
ctbuh.org/papers Title: The High Line Effect Authors: Kate Ascher, Partner, BuroHappold Engineering Sabina Uffer, Head of Research, BuroHappold Engineering Subjects: Civil Engineering Economics/Financial History, Theory & Criticism Landscape Architecture Sustainability/Green/Energy Urban Design Urban Infrastructure/Transport Keywords: Economics Landscape Sustainability Urban Design Zoning Publication Date: 2015 Original Publication: Global Interchanges: Resurgence of the Skyscraper City Paper Type: 1. Book chapter/Part chapter 2. Journal paper 3. Conference proceeding 4. Unpublished conference paper 5. Magazine article 6. Unpublished © Council on Tall Buildings and Urban Habitat / Kate Ascher; Sabina Uffer The High Line Effect Abstract Dr. Kate Ascher Partner Density and development come in many forms – not all of them tall. One of the most successful BuroHappold Engineering, New York City, USA development initiatives undertaken in New York City in the last decade has been a horizontal, rather than a vertical, project: the High Line. The development of this linear park was not the idea of a savvy developer, nor of a far-sighted urban planner or city agency, but of residents who wanted to save a viaduct from demolition. The tools used to carry out the transformation Kate Ascher leads BuroHappold’s Cities Group in New York. She is also the Milstein Professor of Urban Development from an abandoned rail line into a park included a combination of public and private money, at Columbia University where she teaches real estate, fortuitous zoning changes, respect for the historic fabric, and a simple landscaping aesthetic that infrastructure and urban planning courses. Her public sector work has involved overseeing major infrastructure and master would make the park a world-class attraction. -
HHH Collections Management Database V8.0
HENRY HUDSON PARKWAY HAER NY-334 Extending 11.2 miles from West 72nd Street to Bronx-Westchester NY-334 border New York New York County New York WRITTEN HISTORICAL AND DESCRIPTIVE DATA HISTORIC AMERICAN ENGINEERING RECORD National Park Service U.S. Department of the Interior 1849 C Street NW Washington, DC 20240-0001 HISTORIC AMERICAN ENGINEERING RECORD HENRY HUDSON PARKWAY HAER No. NY-334 LOCATION: The Henry Hudson Parkway extends from West 72nd Street in New York City, New York, 11.2 miles north to the beginning of the Saw Mill River Parkway at Westchester County, New York. The parkway runs along the Hudson River and links Manhattan and Bronx counties in New York City to the Hudson River Valley. DATES OF CONSTRUCTION: 1934-37 DESIGNERS: Henry Hudson Parkway Authority under direction of Robert Moses (Emil H. Praeger, Chief Engineer; Clinton F. Loyd, Chief of Architectural Design); New York City Department of Parks (William H. Latham, Park Engineer); New York State Department of Public Works (Joseph J. Darcy, District Engineer); New York Central System (J.W. Pfau, Chief Engineer) PRESENT OWNERS: New York State Department of Transportation; New York City Department of Transportation; New York City Department of Parks and Recreation; Metropolitan Transit Authority; Amtrak; New York Port Authority PRESENT USE: The Henry Hudson Parkway is part of New York Route 9A and is a linear park and multi-modal scenic transportation corridor. Route 9A is restricted to non-commercial vehicles. Commuters use the parkway as a scenic and efficient alternative to the city’s expressways and local streets. Visitors use it as a gateway to Manhattan, while city residents use it to access the Hudson River Valley, located on either side of the Hudson River. -
Hell's Kitchen South Community Planning Session
Hell’s Kitchen South Community Planning Session Update on Replacement Port Authority Bus Terminal Plan Sponsored by Manhattan Community Board 4 Congressman, Jerold Nadler State Senator Brad Hoylman State Assemblymembers Richard Gottfried, Linda Rosenthal Manhattan Borough President Gale Brewer New York City Councilmember Corey Johnson December 6, 2016 Port Authority Bus Terminal Serves the most riders in the US Will not be able to serve anticipated future demands PA and others call for new terminal Proposed Replacement Terminal Timeline NY Elected PA releases jury MCB4 and NY local Officials hold comments on the 5 Electeds convene a a Press design finalists & NY Elected Town Hall attended by Conference the Trans Hudson 200+ citizens Officials call to call for Capacity study for the PA Master MCB4’s Land Use the PA meets with NY & termination Planning Committee forms a termination NJ Electeds and of the resulting working group to of the MCB4 & MCB5 advise on the PABT Design in 5 Design agreeing to form a designs project Competition Competition Working Group 2013-2015 Nov 2015 End 2015/Early 2016 Apr 2016 May 2016 July 2016 Aug 2016 Aug 2016 Sep 2016 Oct 2016 MCB4 MCB4 PA Board decides writes a MCB4 writes PA agrees writes a not to build a letter asking a letter to restart letter of bus terminal in PA to “Do Protesting the process objection NJ, launches No Harm” poor air design quality, the competition and NY Elected Officials use of Trans Hudson eminent Capacity study work with MCB4 on domain & response to lack of public PA consultation -
New York Central RR High
West Side TKThe rise ? and fall of Manhattan s High Line by Joe Greenstein 1934: nearly complete, the two-track High Line will lift trains out of nearby Tenth Avenue. New York Central © 201 Kalmbach Publishing Co. This material may not be reproduced in any form without permission from the publisher. www.TrainsMag.com itm r* .. : 1 . 1 4tl * * ': 1* *'::. ,. * j ** % t * * m ? " '' % * m > wmg m ': ** ' f<P 4 5$ :f/Y ? \ if -\ fi n '% ft 2001: wildflowers grace the moribund High Line Al above Long Island's car yard at 30th Street. silent, an old rail road viaduct still winds its State-of-the-art St. John's Park Terminal way down Manhattan's West anchored the south end of the High Line. Side. Once a bustling New York Central freight line, it hasGhostlynot seen a train for 20 and of the railbank a federal to this years, conservancy, preserve unique vestige of Man most New Yorkers barely notice the program that converts unused rail hattan's industrial past. Indeed, in view drab structure. But the "High Line" has rights-of-way to recreational trails, with of recent catastrophic events here, the sparked an impassioned debate between the understanding that railroads may idea of paying homage to the city's it is an his reclaim them. In to those who think important someday opposition transportation history has taken on a is the Chelsea torical legacy worth preserving, and this idea Property Owners new poignancy. "It's a once-in-a-lifetime those who view it as an ugly impedi Group, which views the High Line as a opportunity," he said. -
New York City Third Quarter 2017
Market Report New York City Third Quarter 2017 Avison Young’s 2017 Third Quarter Manhattan Market Report includes our insights on office leasing, investment sales, debt & equity, valuation & advisory and retail activity. While there has been some pullback in investment sales activity and the debt & equity environment, at the same time positive influences have created opportunities within the other groups. In the following pages, we highlight not only the challenges, but also the bright spots that point to a New York City real estate market where the fundamentals overall remain intact. The Manhattan office leasing market was heavily influenced by a greater flight to quality towards the newer and more efficient properties by the less price sensitive tenants committing to significant amounts of space in and around the Hudson Yards area in Midtown. While some members of our valuation and advisory team like to refer to the Hudson Yards area and its emergence as the new “Last Frontier,” both Midtown South and Downtown have proven attractive to a growing mix of tenants including co-working and government/public administration agencies, which helped push leasing volume in these markets well above year-over-year levels. Healthy leasing demand overall has kept the Manhattan market in equilibrium with a 10.4 percent vacancy rate at the end of the third quarter, and plenty of space options remain suitable for all office occupiers regardless of price sensitivity. A weak supply of availabilities led to a decline in investment sales activity when measured by both dollar volume and number of transactions. This trickled down to the debt and equity market, as acquisition financing declined in lockstep. -
Hell's Kitchen South Coalition Completed Plan
Neighborhood Plan 5/31/2019 Table of Contents Executive Summary ........................................................................................................................................................ 4 Hell’s Kitchen South Coalition Background..................................................................................................................... 7 History and Current Zoning ...........................................................................................................................................11 Air Quality ......................................................................................................................................................................17 Transportation ...............................................................................................................................................................21 Parks and Public Green Spaces ...................................................................................................................................33 Residential Development with Affordable Housing .......................................................................................................44 Commercial and Local Retail Uses ...............................................................................................................................52 Infrastructure and Services ...........................................................................................................................................58 Implementation -
L'oréal Moves Into New Digs at 10 Hudson Yards
L’Oréal Moves Into New Digs at 10 Hudson Yards June 23, 2016 After nearly 60 years in Midtown Manhattan, L’Oréal USA announced today that its first em- ployees have officially moved into the compa- ny’s new U.S. headquarters at 10 Hudson Yards. Over the next few months, 1,300 L’Oréal USA employees will occupy 10 floors of the building, spanning more than 400,000 s/f of the 1.8 mil- lion-square-foot Platinum LEED-designed Tower on Manhattan’s West Side. L’Oréal’s is the second Hudson Yards tenant to move into the new neighborhood. Ten Hudson Yards officially opened its doors June 1 to wel- come the first wave of Coach employees to their new global headquarters. The majority of L’Oréal USA’s corporate func- tions and brand teams including Essie, Garnier, Lancôme, La Roche-Posay, L’Oréal Paris, Ma- trix, Maybelline, Redken and SkinCeuticals will be housed at the 10 Hudson Yards building, a modern glass office tower alongside the High Line. “Hudson Yards has a dynamic and creative en- ergy that aligns with the culture we are building at L’Oréal USA,” said Frédéric Rozé, president and CEO at L’Oréal USA. “L’Oréal is a 107-year- old company with the heart of a startup. Hudson Yards and the evolving West Side represent the new entrepreneurial spirit of Manhattan, and the spaces we’ve created are a modern new home for L’Oréal USA that will inspire the future of our company.” Working with Gensler, L’Oréal USA custom-designed the Hudson Yards office space with collaboration in mind. -
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. -
Rethinking Third Avenue: Savills Studley
Savills Studley Research Savills Studley Insights September 2015 RE-THINKING THirD AVENUE We compare the available stock of office space along Third Avenue versus the availability of space within the balance of the Grand Central submarket. We find that leasing activity along the Third Avenue corridor has accelerated, especially among Class B/C buildings. Despite the relatively low level of current availability, we think that Class B/C space along Third Avenue represents one of the last “value plays” in Manhattan, particularly for clients who wish to be in amenity-rich buildings close to public transportation. With an increase in the amount of higher-priced, new construction set to come online in the Downtown and Midtown submarkets, the relative attractiveness of Third Avenue is apt to grow. Savills Studley | Insights September 2015 There has been no shortage of media attention broadcasting the increase in Manhattan’s office supply. While many of the developers have secured the anchor tenants necessary to kick-start construction, significant supply is still to come. Table 1. Select Manhattan Office Projects Under Construction and Proposed, Q2 2015 TOTAL RBA AVAILABLE PROJECT (LOCATION) (MSF) (MSF) STATUS / PROJECTED COMPLETION / DETAILS ANNOUNCED TENANTS 55 HUDSON YARDS Under Construction 1.30 1.22 Delivering early-2018 Boies, Schiller (11TH AVE. BETWEEN 33RD/34TH ST.) 51 stories; Related, Oxford, Mitsui 30 HUDSON YARDS Under Construction 2.39 1.40 Delivering mid-2019 Time Warner (500 W. 33RD) 90 stories; Related Under Construction 10 HUDSON YARDS Coach, SAP 1.73 0.26 Delivering late-2015 and L’Oreal (501 W. 30TH ST.) 52 stories; Related 1 MANHATTAN WEST Under Construction 2.10 1.55 Delivering mid-2019 Skadden, Arps (400 W. -
Hotel Development in NYC
Hotel Development in NYC Hotel Development in NYC: Winter 2021 Edition All In NYC. Winter 2021 Hotel Update Coming off the strong start to 2020 in January and February, the New York City’s travel and tourism industry slowed in March and came to a near total halt in April. The spread of the Covid19 virus and the necessary restrictions and precautions put in place in response to the pandemic have changed the picture of the industry over the past nine months. The nature of travel shifted from traditional leisure and business to emergency accommodations and local uses. Many of the city’s hotels found ways to support the response to the pandemic and begin to plan for a post-pandemic travel environment. At the same time, a significant proportion of the City’s properties closed temporarily to protect their employees and adjust to reduced demand. Sadly, another group of owners have made the difficult decision to close permanently. At the same time, construction on the majority of new and developing projects resumed as soon as work was permitted. Foundations are being dug, floors are rising, facades are changing the look of neighborhoods and interior work is putting the finishing touches on hundreds of new rooms. Current active inventory has been constantly shifting in response to opportunity and need across the city. According to STR, approximately one-in-three rooms are offline as of December. The hotel pipeline in New York City continues to stand out in the US for diversity of properties and investment. With a range of ground up new buildings, restorations of historic buildings, and expansions, the hotel sector is meeting the diversity of traveler preferences and expectations. -
Urban Catalyst Francin Supervised Research Project Submitted to Prof
URBAN CATALYST KATE-ISSIMA FRANCIN URBAN CATALYST Supervised Research Project Submitted to Prof. Raphaël Fichler School of Urban Planning McGill University May 2015 Cover page: Pathway on High Line in West Chelsea, between West 24th and West 25th Streets, looking South. Source: Iwan Baan,High Line Section 2 (2011) URBAN CATALYST By Kate-Issima Francin Supervised Research Project Submitted to: Professor Raphaël Fichler In partial fulfillment of the Masters of UrbanPlanning degree School of Urban Planning McGill University May 2015 ABSTRACT Figure 1. Section of High Line Park: Gansevoort Slow Stair i Source: Iwan Baan,The High Line Section 1, (2009). Land suitable for development has become be used, and the urban catalyst strategy as increasingly scarce and expensive in most a means of improving the physical conditions post-industrial North American and Euro- of an area, spurring urban change at a larger pean cities. As a result, underutilized areas scale and therefore improving the quality of that had previously been overlooked have life of individuals. The study concludes that become important assets in the urban de- well-thought and well-designed urban cat- velopment process, and planners must find alysts can promote quality urban design by alternative to traditional urban transformation connecting the old and the new, improving approaches which relied on massive public place identity, and stimulating more coher- investments. Urban catalysts appear to be ent development. Urban catalysts should be interesting tools to improve the quality of the at the core of a collaborative and integrated built environment, and hence, the quality of planning and design process.