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A day in the life The Core CEO bikes up to 75 miles a day, plays the sax — oh, yeah, and manages to run his own residential firm.
We are pledged to the letter and the spirit of U. Architects SHoP and AECOM with structural engineer Thornton Tomasetti made sure that, long after its first sold out performance, Brooklyn would have a new living room where every seat is always the best seat in the house. Structuralsteel Right foranyapplication For help achieving the goals of your next project, contact the Steel Institute of New York.
Hunt Construction Group Structural Engineer: It starts with Clint Eastwood. Can he replicate his city success? Beyond TV stardom Michelle Kleier on getting into the business after being robbed and praying for rain in the Hamptons. Elliman broker Joan Swift 10 January www. The stories behind the latest job moves and company announcements. A lighter look at industry buzz. The powerful Pontes The family has been sitting on a gold mine of a real estate portfolio in Tribeca.
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The agents who closed the most lucrative residential leases of — and how they did it. Seaport The burgeoning nabe was slammed by Sandy, but brokers say retail, not residential, took the bigger hit.
Past performance does not guarantee future results. It should not be assumed that the recommendations made in the future will be pro table or will equal the performance of the securities listed. Holdings are subject to change. You need an intensely dedicated broker who is still on the job long after the lights have gone out elsewhere.
You need Rosewood Realty Group Call or e-mail news therealdeal. It is illegal to photocopy or reproduce any part of The Real Deal without express written consent. For reprints and duplication rights, call Send check or money order toWest29thSt. There is something about the end of the year that lends itself to predictions of the end of the world.
Then there was Y2K — where at the stroke of midnight on Jan. And the end of the 5,year Mayan calendar this past Dec. The end of the Mayan calendar was not the only doomsday scenario this year. In fact, while winter is normally a slow time for real estate, the number of residential sales in the fourth quarter was up nearly 30 percent compared to the same time the year before.
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That bump in activity was prompted by looming increases in capital gains taxes, according to industry pros. Check out the story by Hayley Kaplan, our newest reporter, on page In addition, the outlook for the Manhattan residential market going forward could be good.
Some are predicting prices may rise in the New Year because of a shortage of available apartments. And a look back at the most expensive residential sales of the past year — where many records were broken — is a cause for optimism as well see page Meanwhile,another end-of-the-world-typeevent therewerealotthisyear was HurricaneSandy.
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Check out the series of stories by Adam Pincus starting on page And with the holidays this past month, it was high season for charitable giving. The Real Deal took the opportunity to examine the relationship between philanthropy and real estate deal-making.
Check out our stories starting on page The bi-monthly magazine is going to feature residential property listings, and will have the largest door-to-door distribution of any magazine in New York City, reachingdoorsteps. Enjoy the issue and happy New Year! Behind every successful Building Owner there is a host of incredibly talented Brokers and steadfast Tenants.
Robert Marston Corporate Communications, Inc. This season, however, the continued strength of the luxury market — paired with the pending change in tax rates for capital gains — prompted a spike in sales activity. Listing inventory, meanwhile, plummeted Miller said it was second-lowestabsorptionrate sincehe began tracking data 12 years ago.
Miller attributed the uptick in sales — andsubsequentdropininventory—inpart tofallinginterestrates. The Manhattan rental vacancy rate, meanwhile, grew to 1. Still, the rental market continues to be active, driven by still-low vacancy rates, brokers said. Atthesametime,however,luxuryrental prices in November swelled. A rental report compiled by Miller showed that median luxury prices the top 5 percent of the rentalmarket inNovemberhadincreased Our team is dedicated to helping you and your clients.
Citibank is committed to providing support for all customers who have been affected by Hurricane Sandy. Our model is customizable to fit your needs and will be the cornerstone of our relationship.
Terms, conditions and fees of accounts, programs, products and services are subject to change. This is not a commitment to lend. All loans are subject to credit and property approval. Certain restrictions may apply on all programs.
Offer cannot be combined with any other mortgage offer. Douglas Elliman Real Estate. Douglas Elliman is built on a proud, year tradition of outstanding leadership in real estate. Leverage the power behind the most powerful name in real estate. ThenewRLSatlonglast 20 January www. Data collected over the past year for a complete view of the entire real estate market. Thatchangemightsoundtechnical,but Goldschmidt said it will give the 8, to 10, New York City brokers who use the RLSsystemaccesstoallkindsofthird-party products that brokers in other metropolitan areas already have.
For example, it will be accessible through mobile phone apps, provide a more sophisticated way to calculate commissions which have grown more complicated in recent years and include more options for inputting information about a listing. Thatshouldexpand the number of software programs brokers here have at their disposal, he added.
Brokers say the residential real estate communityinNewYorkhasbeenwoefully behindtherestofthecountry. A rival, albeit far smaller, trade organization — the Manhattan Association of Realtors — does in fact run a MLS in Manhattan; however, it is not widely used. No universal system Instead of a straightforward, transparent and universally used MLS, New York City insteadhasafracturedsystemwithanumberofseparatelistingplatformsrunbyprivate companies that disseminate information from the RLS.
But creating a more sophisticated system has been a long and onerous task. Many brokers told TRD they believed that the new system would make it harder for agents to access their listings and that the system would automatically cut off a broker if she failed to pay her dues — both facts that REBNY disputes.
Luxury furnished apartments with spacious living rooms, full kitchens and hotel amenities, available by the week or month. Call for details and to schedule a private tour. But this is no fIre sale: But Broadway defaulted and Lehman took full control of the building in April Some have speculated that because Lehman also owns air rights, a new tower or addition could be in the cards there.
Lehman, which was headed by CEO Dick Fuld before it collapsed, has held the property as an investment since taking it back, and has not yet openly marketed it. Shawmut also just finished the renovation of the lobby at the famed Waldorf Astoria hotel. The Real Deal sat down with Hiscoe in his West 54th Street office, which is home to memorabilia from the retailers whose construction projects his company has managed.
B y G uelda V oien This sculpture depicts the iconic s photo of a group of construction workers taking their lunch break on a steel beam above Rockefeller Center. While the sculpture was a gift from his wife, Hiscoe negotiated with the Soho artist who sold it to them. They were married nine years ago.
A jersey from the PanMass Challengea mile bike ride that Hiscoe participated in this past August in Massachusetts with a group of Shamut employees. This ceremonial shovel was used a few years ago for the groundbreaking of a new flagship Apple store in Boston. Shawmut helped convert the baseball stadium into a football arena for the game, and provided the infrastructure to do so for future games.
Hiscoe received this glass statue when he scored a hole in one during a company golf outing in New Jersey last year. It took her a few days to realize the shot was a once-in-a-lifetime event. Hiscoe often invites employees to his desk rather than a conference room for meetings; that reflects the democratic ethos of the company, which is fully owned by its employees.
He also has video conferencing handy for holding court with Boston staff. Total leasing volume for felltoroughly But this year may be a different story. Industry insiders said they expect a turnaround inif for no other reason than pent-up demand and the expiration of current leases. With the bogeyman of the fiscal cliff expected to be resolved in the coming weeks — no deal had been reached by press time — businesses will be able to make longer-term decisions, brokers said.
And a handful of large deals were near completion as of late December. Midtown Tenants inked several large deals last month in Midtown, ending a slow year with a slight uptick in activity. The law firm, based in New York, will occupyfloorsthreethrough12inthe year lease. The asking rent for the newly listedspacewasaboutthesameas that of space listed in the area before Sandy.
Recny declined to comment on how the storm impacted leasing terms, but said: Yet challengesremain in Lower Manhattan, where at least a half-dozen large buildings, such as4NewYorkPlaza,wereexpected to remain closed at the start of the New Year, commercial firm Jones Lang LaSalle said. Whiletenantscansignupwith competing voice and data services,somecompaniesneedVerizoninordertocommunicatewith other offices around the country that use the same system, insiders said.
Midtown South Midtown South was the only Manhattan market to see an increase in availability last month. The increase in availability is due in part to two large blocks of space hitting the market.
Vornado Realty Trust listed a ,square-foot block of space at Broadway. Theotherlargeblockis57, square feet on the 14th floor at 11 MadisonAvenue,the2. The Midtown South market was the darling of Manhattan office leasing last year, and insiders expect that to continue.
Downtown The Downtown market was, of course, hit hard by Hurricane Sandy, but many buildings that closed after the storm were back online by the end of last month. Do you need a fast commitment subject to the appraisal? Super Jumbo, stated income and negative pledge products? Is it all just piling up on you? This means we offer our own mortgages along with those from commercial banks, savings banks and credit unions. Through this unique platform, we give our clients access to the widest menu of options at extremely competitive rates, outstanding customer service and a team with the experience to overcome the obstacles.
That s quite a luxury these days. I love to create a new nest. He wanted a big property. A minimum of 75 is required for high-efficiency buildings. ShaunOsher 30 January www. I usually wake up at 6: Today, I ran seven miles along the Hudson. I also try to meet with my trainer once a week, to do push-ups, pull-ups, the rowing machine and rope-climbing, like back in myarmydaysinSouthAfrica.
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