7 Bryant Park

Schroders takes 74K sf at 7 Bryant Park Bank of China bought the 30-story tower for $600M last year

The U.S.-based arm of global financial services firm Schroders is set to move to Bank of China’s 7 Bryant Park in Midtown.

Schroders Investment Management North America signed a 15-year lease to take the 17th through 21st floors, and part of the 16th floor, for a total of 74,000 square feet, the New York Post reported.

Asking rent for the space was reportedly above新爱上海同城对对碰论坛 上海同城对对碰交友社区 $100 per square foot. Mary Ann Tighe an爱上海同城手机版 新爱上海同城对对碰论坛d Howard Fiddle of CBRE represented Bank of China in the deal, while Stuart Eisenkraft represented Schroder.

Schrod阿拉爱上海同城 爱上海龙凤419桑拿ers is leaving its offices at 875 Third Avenue in 2017.

Houston-based developer Hines built the 450,000-square-foot 7 Bryant Park along with JPMorgan’s asset management arm. Bank of China, originally the building’s anchor tenant, decided to buy the property last year for $600 million. The bank occupies 250,000 square feet there. Hines remains the property an新爱上海同城对对碰论坛 上海同城对对碰交友社区d asset manager. [NYP] — Ariel Stulberg

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Dan Garodnick

City puts noisy developers on notice New bill seeks to make developers’ plans mor上海千花网论坛 上海千花网e accessible to the public

Dan Garodnick and a construction site near the High Line in Manhattan

Developers may soon be forced to display their noise mitigation plans on construction site fences, thanks to a City Council bill aimed at catching developers who make a ruckus.

Council member Dan Garodnick, who represents neighborhoods much of Midtown East and the Upper East上海夜网论坛 上海夜网 Side, introduced the bill Thursday, DNAinfo reported. The bill will also require the Department of Environmental Protection to post noise mitigation plans for construction sites on its website.

Though every construction site must feature a noise mitigation plan, Garodnick believes the plans are not suitably accessible to neighbors. The DEP keeps the plans and the only way for residents to get them is to contact the department or the contractor directly. Garodnick says it shouldn’t be that hard.

“We constantly have construction running up against the demands of residents, so we’re trying to strike a balance that allows work to pr上海贵族宝贝论坛 上海贵族宝贝oceed but also doesn’t ruin people’s lives in the process,” he said, according to the news website.

Meanwhile, the amount of after-hours construction in New York City has risen steadily over the past few years.  Last month, an analysis by The Real Deal showed the Department of Buildings regularly issues af上海夜网 阿爱上海同城ter-hours building permits, but rarely revokes them. The DOB issued nearly 60,0[……]

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Neil deGrasse Tyson

Space! Neil deGrasse Tyson talks American Museum of Natural History s next frontier New $340M science center will add 194K sf to the museum

Neil deGrasse Tyson and a rendering of the Gilder Center (credit: Studio Gang A上海龙凤论坛 新上海贵族宝贝论坛rchitects)

To design the new science center at the American Museum of Natural History, the architect melted a block of ice.

Rendering of the Gilder Center (credit: Studio Gang Architects)

Jeanne Gang, founder and design principal at Gang Architects, melted the ice to visualize how water flows and can shape natural structures — think rock formations — and replicated the effect when she designed the new Richard Gilder Center for Science, Education and Innovation, she said on Wednesday. Inside the curvaceous glassy building, a network of smooth concrete arches will connect different exhibits, culminating in a 21,000-square-foot Collections Core, where different specimens and artifacts will be displayed.

At a news conference on Wednesday, the museum released new details about the project, which will span 235,000 square feet and is expected to cost $340 million. Of that projected cost, $277 million has already been raised. The new building will feature an insectarium, a butterfly vivarium, classrooms, research centers and more.

The center consists of a new 194,000-square-foot building, which then will connect to existing museum buildings. Neil deGrasse Tyson, a celebrity astrophysicist with the museum and star of Cosmos: A Space Time Odyssey, commended the design[……]

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RSA NYC

Landlord group was state s biggest lobbying spender in 2016 Rent Stabilization Association spent $3.6M

RSA President Joseph Strasburg

The city s largest landlord group was also the state s biggest lobbying spender last year, shelling out $3.6 million on issues such as property taxes and rent regulation.

The Rent Stabilization Association of New York more than doubled its lobbying efforts in 2016, jumping from the $1.4 million it spent in 2015, according to a report released by the state s Joint Commission on Public Ethics on Thursday. According to disclosures filed with the state, the organization s lobbying efforts were related to property taxes, rent regulation, building safety and water rates.

In the past two years, the group has fiercely opposed the year-long rent freezes approved in June 2015, and then again in June 2016. In July, the group filed a law上海贵族宝贝论坛 上海贵族宝贝suit against the city, alleging 上海同城对对碰交友社区 上海夜网论坛that the ma上海同城对对碰交友社区 上海夜网论坛yor exerted undue influence on the Rent Guidelines Board. The board later decided against freezing rent next year.

Representatives for the group didn t immediately return calls for comment.

As usual, real estate was a strong presence in local and state lobbying efforts last year. Real estate and construction spent $35.7 million, making it the second-highest spender by industry. The New York State Association of Realtors was the ninth highest lobbying spender in 2016, spending roughly $1.3 million. Kasirer Consulting, one of the industry s go-to lobbying[……]

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Real Estate History

World War II price control program kicks off rent control in NYC, real estate owners try to block construction of the World Trade Center, and more… This month in real estate history

Steinway Tunnel

1911: Landowners demand lower taxes if new subway tunnel isn’t opened

A group of landowners in Queens demanded that the city either reduce their property taxes or open an unused trolley tunnel near their land so they could reap the economic benefits, the New York Times reported 106 years ago this month. Five years earlier, the city had raised taxes on the mostly vacant lots — by as much as 3,000 percent in some cases — in anticipation of the Steinway Tunnel opening nearby. But the tunnel didn’t open in 1910 as planned because the city was unwilling to give the Interborough Rapid Transit Company (IRT) a license to operate a tram line. The landowners, who had collectively paid more than $1 million (more than $25 million today) in property taxes since 1906, argued that the assessments were a “contract on the part of the city” t上海同城对对碰交友社区 上海夜网论坛hat it would open the tunnel. The IRT eventually modified the tunnel so it could carry standard trains, and it opened for commuters in 1915. The Steinway Tunnel connects 42nd Street in Manhat阿爱上海同城 阿拉爱上海同城tan to 51st Avenue in Hunter’s Point South in Queens, and today it services the 7 train.

President Franklin D. Roosevelt

1943: Rent control program kicks off in five boroughs

The federal government inadvertently started the longest-running rent control program[……]

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579 Fifth Avenue

上海千花网交友 上海千花网论坛“Netflix of luxury wat上海千花网论坛 上海千花网ches” gears up for move to Fifth Avenue Eleven James inks deal for 11K sf at Stawski’s 579 5th

579 Fifth Avenue and Eleven James CEO Olivier Reza (Credit: Stawski Partners and Eleven James)

The startup known as the “Netflix of luxury watches” is upgrading to the office version of a premier爱上海同城手机版 新爱上海同城对对碰论坛 membership.

Eleven James, a membership club for luxury timepieces, signed a lease for just over 11,000 square feet at Stawski Partners’ 579 Fifth Avenue, the landlord’s brokers told The Real Deal.

The 10-year lease covers the entire 10th floor at the 150,000-square-foot boutique office tower at the corner of East 47th Street.

The leasing team “worked closely with Eleven James to configure a layout that accommodated its operations onto a single floor,” said JLL’s Paul Glickman, who negotiated the deal on behalf of Stawski Partners along with his colleagues Benjamin Bass, Diana Biasotti, Kristen Morgan and Walter Rooney.

Newmark Knight Frank’s Ross Perlman, Lee Brodsky and Ryan Gessin represented Eleven James, which is relocating from a small, side-street building at 12 East 44th Street owned by Queens-based First Pioneer Properties.

Stawski recently upgraded its 17-story building with an expanded all-marble lobby, a two-story glass storefront and white glass上海龙凤论坛sh1f 上海龙凤论坛 spandrels on the building’s façade that highlights the original Emery 新爱上海同城对对碰论坛 上海同城对对碰交友社区Roth Sons design.

Bank Leumi, Hubb NYC Properties and the hedge fund Hollis Park Partners also call the[……]

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Ben Carson

HUD spends $3上海贵族宝贝论坛 上海贵族宝贝1K in taxpayer money on dining room furniture for Ben Carson News comes amid push to cut costs at HUD

The HUD Headquarters at the Robert C. Weaver Federal Building in Washington, D.C. and Ben Carson

Ben Carson, self-proclaimed cost cutter at the helm of the Department of Housing and Urban Development, spent $31,000 in taxpayer money on a new dining room set for his office. And he doesn t plan to return it.

The department did not ask for approval from Congressional appropriations committee, which is required for any office redecoration costing more than $5,000. The justification, according to a HUD spokesperson: the table, which sits inside Carson’阿拉爱上海同城 爱上海龙凤419桑拿s office, serves a “building-wide need.” The table was bought fr爱上海同城 爱上海om a company in Carson’s hometown, Baltimore, the New York Times reported.

A上海贵族宝贝 上海千花网龙凤论坛n agency spokesperson said Carson wasn t aware of the purchase but does not plan to return it, according to the Times.

Last year HUD official Helen Foster filed a complaint alleging she was demoted after she resisted Carson’s wife Candy Carson’s requests to sidestep the $5,000 law. According to Foster, HUD interim Craig Clemmensen asked her on Candy’s behalf to “find money” to pay for the decoration in January 2017. Foster refused, and was later demoted from chief administrative officer to a new role overseeing the agency’s Freedom of Information Act requests, she said.

The HUD spokesperson claimed Foster was reassigned as part of a routine reorganization of[……]

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Sean Hannity

Clockwise from top left: Sean Hannity purchases raise concerns about LLCs, SL Green founder and chairman steps down (Credit: Steve Friedman), Hillary Clinton asks RE firms to support Gateway (Credit: Gage Skidmore) and Fed holds interest rates steady.

The Sean Hannity real estate revelations have experts debating LLC usage
Limited liability companies are back in the spotlight thanks to newly-surfaced information about the LLCs Sean Hannity used to buy hundreds of residential units across the country. While it’s legal for上海千花社区 上海千花网交友 owners to obscure their identities, it’s made money laundering easier in the past, and some experts and attorneys are questioning the practice. [TRD]

Stephen Green to step down as chairman of SL Green Realty
In 1980, when Stephen Green founded SL Green Properties — the predecessor to SL Green Realty — the firm was focused on upgrading s上海千花网龙凤论坛 上海千花社区ide street buildings. By the time he took it public in the 1990s, it was a multimillion dollar company. On Monday, the real estate investment trust announced that Green will step down as chairman. Marc Holliday, who has been SL Green CEO since 2004, will pick up the title. Green, meanwhile, will become chairma阿爱上海同城 阿拉爱上海同城n emeritus next year. [TRD]

Federal Reserve keeps interests rates where they are, with an upcoming increase likely
Short-term interest rates stayed where they were on Wednesday, but the Federal Reserve indicated that it 新爱上海同城对对碰论坛 上海同城对对碰交友社区will gradually increase them within the next few months, the Wall Street[……]

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101 Barclay Street

BNY Mellon just上海夜网论坛 上海夜网 purchased this FiDi property from the city for $352M Company now owns 101 Barclay Street; it previously purchased the ground lease

101 Barclay Street and BNY Mellon CEO Charles Scharf (Credit: Google Maps and BNY Mellon)

Bank of New York Mellon has purchased 101 Barclay Street in the Financial District for $352 million, according to property records.

The company acquired the ground lease for the building in 2013 for $164.4 million and has now purchased the land outright from the City of New York.

BNY has occupied the office building, also known as 240 Greenwich Street, for more than 30 years, according to a spokesperson. The purchase of the land underneath the tower demonstrates BNY Mellon’s commitment to New York City as a major emp阿爱上海同城 阿拉爱上海同城loyer and taxpayer,” the repres爱上海 爱上海同城手机版entative said.

The deal comes not long afte上海龙凤论坛 新上海贵族宝贝论坛r BNY Mellon announced that it would relocate employees at Brookfield Place into 101 Barclay, part of a larger effort to reduce the bank s footprint.

BNY was just four years into a 20-year lease at Brookfield Place.

A representative for City Hall did not immediately respond to a request for comment.

Tags: bank of new york mellon, Commercial Real Estate
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