Tag Archives: Real Estate

101 Warren Street apartments up for U.S. Marshall Auction

Marshall Auction of Area Condos

101 Warren Street apartments up for U.S. Marshall Auction
101 Warren Street apartments up for U.S. Marshall Auction

Some say, one man’s forfeiture may be another man’s fortune — or something like that.

On a completely unrelated search for Anne Hathaway’s jewels on auction, we inadvertently found plots of real estate in our area on the auction block as well.

Not one, but two condo apartments at 101 Warren Street are part of the U.S. Marshall’s auction of properties. The stated reason for both is “Forfeiture.” We can’t help but imagine that perhaps this might be related to our resident sexy Russian spy neighbor Anna Chapman. Or it could just be two separate instances of bad people buying great real estate and getting caught on the wrong side of the law.

The first listing is for Unit 1540 ID#: USM288946
A 2-bedroom, 2.5 bathroom apartment listed at $2.7 million dollars boasting 1,592 square feet.

The other listing is another 2-bedroom apartment with 3 bathrooms listed at $3.3 million dollars with nearly 2,114 square feet.

Being that the apartment building is relatively new, and there is only one unit left on the building’s official website, this could be a great steal it would be a crime to leave these apartments on the market.

To learn more about how you can bid on these apartments, check out the links below:



Tiger Woods moves to downtown New York

Welcome To The Neighborhood Tiger Woods!

Tiger Woods moves to downtown New York
Tiger Woods moves to New York City

Dear Tiger Woods,

This weekend, I saw someone moving into this ridiculous apartment on Reade Street. Peeking into the place I wondered who was the lucky person who moved into our neighborhood.

Considering we count Tyra Banks, Leonardo DiCaprio and John Stewart as our neighbors — I am now completely convinced and imagining you are our new friendly neighbor that the NY Post speaks so highly of.

If so, that’s great! Welcome!

I’m sure you’ve heard a lot about the challenging course of Park51, but we’re pretty sure New York became your “hole in one” once you heard about our even more infamous “Ground Zero Strip Clubs!”

There is the Pussycat Lounge on Greenwich or the New York Dolls on Murray Street!

Oh! I’m also sure that since New Yorkers don’t need cars — you won’t have to worry about crashing them in this part of the woods city! There’s always a cab around here somewhere.

Otherwise, we at BatteryParkCity.com offer you a warm welcome (if you are actually our neighbor) and would love to bump into you at the Whole Foods sometime.

Your speculative Battery Park City and Tribeca neighbors

Larry Silverstein, World Trade Center, Port Authority New York and New Jersey

Port Authority Holds Special World Trade Center Meeting

Larry Silverstein, World Trade Center, Port Authority New York and New Jersey
Larry Silverstein, Developer of World Trade Center

The Port Authority of New York and New Jersey, owners of the World Trade Center Site will be holding a special meeting today to vote on the funding required for two towers being developed by Larry Silverstein.

The vote that takes place today will solidify tentative deals announced between the Port Authority and Larry Silverstein in recent weeks.

The financing terms call for $1 billion dollars help from the Port Authority to develop a 64-story tower at the World Trade Center site. The Port Authority will also provide $600 million in backup funds for another 71-story tower, contingent on Silverstein being able to raise $200 million in cash as well as tenants for the building.

These two buildings are being constructed in tandem with 1 World Trade Center which was previously known as the Freedom Tower.

Conde Nast Flagship Building Will Move to Ground Zero World Trade Center

Conde Nast Moves Headquarters To New World Trade Center

Conde Nast Flagship Building Will Move to Ground Zero World Trade Center
Conde Nast moves its headquarters to the new World Trade Center site

If you build office space, someone is bound to move in. Conde Nast has confirmed they signed a tentative deal that would move from their flagship Times Square location into the building formerly known as the Freedom Tower.

According to NY Magazine, employees were emailed a memo regarding the move today:

‘We have been evaluating real estate opportunities that would allow us to house all our brands in a single, state-of-the-art headquarters, as some of you may already know.As part of that process, we are in active discussions regarding 1 World Trade Center, a development project underway with the Durst Organization (our 4 Times Square landlord) and the Port Authority of New York and New Jersey.

While a final decision is several months away — and a move itself unlikely before 2014 – we wanted to keep you apprised of the status of this project. We also wanted to alert you, since it is now highly likely that we will move from 4 Times Square, whether to 1 World Trade Center or another location, that we will be reviewing our present and future space requirements for each of our businesses. More information about that process will be communicated shortly.”

It was speculated that Conde Nast would be one of the first tenants at the World Trade Center site after Durst was confirmed as one of the of two developers overseeing the reconstruction of the World Trade Center site. Durst’s relationship with high profile tenants was seen as an advantageous by the Port Authority.

This is the second announcement of publications moving into the lower manhattan area. The Daily News, America Media Inc. and Manseuto Ventures have recently called our area their new homes.

Four New York Plaza

Daily News Headquarters Moves Downtown

Four New York Plaza
4 New York Plaza Quickly Becomes Hub for American Media

Crains New York Business.com is reporting that the New York Daily News has signed a lease to move into our area next year. The publication is currently located in midtown and its new offices will be located at 4 New York Plaza at the corner of Water Street and Broad.

According to owner Mort Zuckerman, “This location will provide our employees with a modern new home.”

Its related corporate entity, U.S. News & World Report Media Group which are also slated to move into the building — renting two floors at 4 New York Plaza.

American Media Inc., an unrelated publishing company has also announced that they too will be moving into the same building.

Considering that Mansueto Ventures, home of Inc and Fast Company are located at 7 World Trade Center paired with rumors that Conde Nast will be a tenant at the World Trade Center — Downtown Manhattan is slated to become a new hub for American media.

Building Vacancies Drop in Battery Park City and Tribeca

Condo Sales Up in Manhattan — Except In Our Neighborhood

Condo sales rise citywide except in Financial District.
Condo sales rise citywide except in Financial District.

Condominium sales have climbed throughout all of Manhattan except in the Financial District, according to Radar Logic, the company that runs the RPX index which calculates condo sales. The RPX index measures 8 separate neighborhoods in Manhattan and reported that prices declined in five out of eight Manhattan neighborhoods, with our neighborhood accounting for the steepest drop in both sales and price per square foot.

In April, Manhattan condo sales had seen a stark rise to 383 units — 246 units over last years figures. However, compared with March numbers, April condo sales were up 20%.

An increase in condo sales is usually good news –except the overal price per square foot was down 6.9% year over year. Our neighborhood which is included with condominiums located in the financial district had reported an average price per square foot drop of nearly 16.% percent  — at approximately $869.21 per square foot. Whereas Murray Hill/Gramercy Park reported the biggest gain, with a 6.4% to $1,014.04 per square foot.

The decrease in square foot value is due to the amount of inventory in and around our area — with developers pricing units to sell. According to the report, “The principal problem facing the housing markets is one of oversupply — at the current levels of demand it will take years to absorb unsold inventory.”

Ground Zero performing arts center

Ground Zero Arts Center Gets $44M Boost

Ground Zero performing arts center
City finally gets the ball rolling on new WTC performing arts center.

A long-delayed project to erect a performing arts center at Ground Zero is finally picking up steam. New York City has stepped up to the plate with $44 million to help build the center’s below-ground foundation, according to the Associated Press.

The board of the Port Authority of New York and New Jersey approved a deal last week that will have the city repay the Authority for the work at the World Trade Center site.

Continue reading Ground Zero Arts Center Gets $44M Boost

225 Rector Place

Developer Allegedly Plunders BPC Building’s Reserve Fund

225 Rector Place
Yair Levy accused of raiding the coffers of 225 Rector Place.

Andrew M. Cuomo, the New York attorney general, has a beef with real estate developer Yair Levy. The reason for that aforementioned beef: Levy allegedly purloined $7.4 million from the reserve fund of a luxury building he was developing in Battery Park City.

According to The New York Times, Cuomo filed a lawsuit in State Supreme Court on Wednesday, accusing Levy of leaving the 304-unit luxury building at 225 Rector Place, with a measly $70 in its reserve fund, probably not quite enough to cover the “capital repairs, replacements and improvements necessary for the health and safety of the residents” for which the fund was intended.

Continue reading Developer Allegedly Plunders BPC Building’s Reserve Fund

BNY Mellon

BNY Mellon Looking to Sell 1 Wall Street

BNY Mellon
BNY Mellon wants to say bye-bye to Wall St. (photo courtesy of Associated Press)

Anyone in the market for a giant office building with the prestigious address of 1 Wall Street? If so, you may be in luck.

The Bank of New York Mellon is looking to sell its headquarters, a 52-story limestone edifice on the corner of Broadway and Wall Street, and head for greener pastures. Bank spokesman Jeep Bryant tells Bloomberg Businessweek that BNY Mellon sent a request to New York landlords for about 450,000 square feet of space, and is seeking an office that is more in line with the corporation’s needs. “We are looking for improved client meeting space and something that can accommodate state-of-the-art technology,” he says.

With the uncertainty of last year’s credit concerns in the rear-view, BNY Mellon joins fellow banks Morgan Stanley and UBS AG in the hunt for office-space upgrades. And it seems banks are not alone in their optimism that the economy is turning around. According to broker CB Richard Ellis Group Inc., tenants had signed leases for 6.75 million square feet of office space through the first four months of this year… almost double the amount for the same period in 2009. In addition, commercial property sales are picking up, having tripled in the first quarter alone.

So, yeah, BNY Mellon’s decision to move on from 1 Wall Street sounds like a solid one… and (hopefully) an omen that the economy is moving on as well.


Condo Owners Seeing Red Over Building’s Alleged Lack of Green

Riverhouse tenants want a double serving of green.

Condo owners in Battery Park City’s high-end Riverhouse building have filed a lawsuit seeking a whole lot of green — $1.5 million worth, to be exact — because they contend their supposedly eco-friendly building isn’t environmentally friendly enough.

According to The Wall Street Journal, Steven Gidumal and Allison Keeley — who paid $4.2 million for their three-bedroom, three-bath condo in 2008 –  filed a complaint with the New York Supreme Court in May, claiming that the building was “marketed as being on the cutting edge of ‘green’ technology” but failed to deliver an acceptably eco-friendly air filtration system and heating unit.

The Sheldrake Organization, which oversaw development of the building until it was ousted in a power struggle in January, and Centurion Real Estate Partners, which currently controls Riverhouse, are named as defendants in the suit. However, Michael Abreu, a Sheldrake executive vice president, claims the suit is groundless. The “complaint about the lack of heat has no bearing on the green and sustainable features of the building,” he says.

Despite the lawsuit, Riverhouse is still seeking to obtain LEED gold certification, the second highest of four levels of eco-friendliness, from the U.S. Green Building Council. Winning such a stamp of approval requires meeting an array of environmental standards, including energy efficiency and air quality, and would certainly make the building more attractive to buyers. Not that it needs much help in that department: Leonard DiCaprio and Tyra Banks are already tenants.