The Real Deal New York

Far West Side neighborhood news

  • A rendering of Hudson Yards and Stephen Ross

    A rendering of Hudson Yards and Stephen Ross

    Stephen Ross’ the Related Companies got a $328 million tax break from the city for the construction of an office tower and a mall at its Hudson Yards megaproject, a spokesperson for the city’s Industrial Development Agency said. [more]

  • A rendering of the hotel at 335 West 39th Street and Kenneth Zakin (inset)

    335 West 39th Street (center) and Kenneth Zakin (inset)

    A West 39th Street development site that could support a 60-room limited-service hotel has hit the market and is currently taking bids.

    The site at 335 West 39th Street, located between Eighth and Ninth avenues, will allow for a 44,437 square-foot-building by combining its current zoning entitlement with extra air rights acquired through the city’s Hudson Yards district improvement bonus. [more]

  • Glen Bernardi and Sapphire at 333 East 60th Street

    Glen Bernardi and Sapphire at 333 East 60th Street

    Hell’s Kitchen is set to get a little more sinful. A new five-floor, 480-seat gentlemen’s club from the owner of the Sapphire is coming to 622 West 47th Street.

    Esquire NYC Gentleman’s Club will have more of an upscale vibe than its salacious neighboring clubs Penthouse and Hustler, owner Glen Bernardi’s attorney told the area’s Community Board 4 at a meeting Wednesday. [more]

  • Hudson Boulevard

    Hudson Boulevard

    A new stop off the 7 train just west of 10th Avenue near West 34th Street is slated to open around the summer of 2014, prompting developers to buy up sites in the area at a frantic pace. [more]

  • ross-hudson-yards.jpg

    Stephen Ross’ the Related Companies is looking to get a whopping $328 million in tax breaks from the Bloomberg administration for an office tower and a mall at its Hudson Yards megaproject.

    The board of the Industrial Development Agency, an offshoot of the city’s Economic Development Corporation, will hold a public hearing on the proposed tax breaks on Oct. 10. The IDA has already given Related’s South Tower at Hudson Yards $106 million in tax breaks. [more]

  • The site of Related's South Tower at 10th Avenue and Frank McCourt

    From left: site of Related’s South Tower at 10th Avenue and Frank McCourt

    Frank McCourt, the former owner of the Los Angeles Dodgers who made his name in Boston real estate, has made his first New York City buy: a $167 million development site on Manhattan’s Far West Side where he plans to build a 730,000-square-foot mixed-use tower. [more]

  • Clockwise from top left: Stephen Ross, a rendering of the South Tower (courtesy Kohn Pederson Fox), Barry Sternlicht, Jeffrey Lenobel and Jeff Blau

    Clockwise from top left: Stephen Ross, a rendering of the South Tower (courtesy Kohn Pederson Fox), Barry Sternlicht, Jeffrey Lenobel and Jeff Blau

    For better or for worse, every big-name New York City developer is defined by their most recent marquee project. Bruce Ratner’s Forest City Ratner propelled Brooklyn into a new phase with Atlantic Yards; Gary Barnett’s Extell Development is redesigning the white glove with One57, and Harry Macklowe is trying to erase the past with 432 Park Avenue. For Stephen Ross’ the Related Companies, the narrative of the past few years has been dominated by Hudson Yards. [more]

  • From left, HUD Secretary Sean Donovan, damage done to the Jersey Shore by Hurricane Sandy

    From left, HUD Secretary Shaun Donovan, damage done to the Jersey Shore by Hurricane Sandy

    In its competition to help rebuild areas hit hardest by Superstorm Sandy and to protect them from future storms, the U.S. Department of Housing and Urban Development has narrowed the finalists down to 10 architectural teams, Crain’s reported. [more]

  • Buying a memorable staycation

    July 28, 2013 12:00PM
    South Down Lakes Region, N.H.

    South Down Lakes Region, N.H.

    From Luxury Listings NYC: If you ask Dan Dicarlo where to find value, the 42-year-old retired Wall Street trader will tell you the Sandy-ravaged Jersey Shore. That’s where he found his second home. [more]

  • Christy Romero

    Christy Romero

    A report released by the Treasury Department’s Troubled Asset Relief Program reveals that its mortgage modification program appears to have been helping servicers more than homeowners, the New York Times reported.

    The report, by Christy Romero, the special inspector for TARP, reveals that although more than a third of homeowners who received loan modifications under TARP’s mortgage modification program have since stopped paying, banks and other mortgage servicers kept the money they received for modifying those loans. [more]

  • Guy Geier

    Guy Geier

    The largest construction and architecture firms are seeing healthy growth in their employment figures, suggesting a rebound in building activity, Crain’s reported.

    Full-time employment at the top construction companies was up 1.6 percent in 2012, while the number of architects at the largest firms was up 8 percent from a year earlier. Though the job gains at many architecture firms were less than those seen in the first years of the millennium, there are those who insist that ultimately, that is a good thing. [more]

  • From left: Dan Neiditch, president of River 2 River Realty, and the Atelier building

    A block of nine apartments at the Atelier condominium tower in Hell’s Kitchen hit the market today with an asking price of $85 million. If combined as advertised, the units would become a 10,000-square-foot apartment spanning the entire 45th floor at 635 West 42nd Street.

    The price includes a $2 million construction credit, according to Curbed, which first spotted the listing. [more]

  • From left: Tiger Wood, the Isleworth development home and Bubba Watson

    From the South Florida site: After that pesky sex scandal, Tiger Woods listed one of his Windermere homes in the Isleworth development. The mansion sat on the  market for sometime before eventually being picked up by a mystery buyer last summer. Now that buyer has not only revealed himself, but also unveiled plans for a massive renovation, AOL reported. [more]

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    Stephen Ross
    Related Companies Chairman Stephen Ross thanked god that he decided to move to New York, a city whose prospects he was very high on, in an appearance on Bloomberg Television’s “Market Makers.” The developer also discussed his firm’s Hudson Yards development at length (see video after the jump). … [more]

  • Rendering of Hudson Yards

    The Related Companies has won wage-cutting agreements with some four dozen construction unions in its efforts to save money at the $15 billion development of Hudson Yards, Crain’s reported.

    The developer, one of the most outspoken for the need to cut construction costs during contract negotiations with unions last year, got the groups to agree to cut wages and benefit packages by 10 percent to ensure they would be commissioned to work the massive construction project expected to carry on for the next decade. The deal is not yet final. [more]

  • From left: Joseph Chetrit (credit: DNAinfo) and Baruch Singer

    For the third time in two days, major property news is emerging from the Far West Side near the Jacob Javits Center. A day after The Real Deal reported Rockrose Development closed on its purchase of a West 39th Street development parcel and the Imperatore family reportedly began exploring a sale of a 1 million-square-foot development site across 11th Avenue from the Javits Center, Crain’s reported that Joseph Chetrit has entered contract to buy property in the area for $26 million. [more]

  • From left: Justin and Henry Elghanayan and the site on 39th Street

    Rockrose Development has purchased a 19,475-square-foot commercial development site near Hudson Yards, bringing to completion a decade-long plan to acquire an entire block on the Far West Side.

    The acquisition of the site, at 528-534 West 39th Street, paves the way for a residential development totaling 528 units as well as an additional 1 million square feet of commercial development, Rockrose President Justin Elghanayan told The Real Deal following the closing today. [more]

  • Darcy Stacom (top), Edward Imperatore (bottom) and the development site

    The owners of a large development site across the street from the Jacob K. Javits Center have hired CBRE Group Vice Chairman Darcy Stacom to explore a possible sale, Crain’s reported.

    The L-shaped lot is owned by the Imperatore family and fronts 11th Avenue and spans the entire block between West 36th and West 37th streets. Crain’s said a development of 800,000- to 1 million square feet could be built on the site. [more]

  • Glenwood's Gary Jacob and 743-763 Eighth Avenue

    Hospitality firm Riu Hotels & Resorts has paid residential owner and operator Glenwood Management $111 million for a large development site on the West Side. The five parcels on the west side of Eighth Avenue, between 46th and 47th streets, including addresses 743-763 Eighth Avenue, would allow a building between 260,000 square feet and 320,000 square feet, according to published reports. [more]

  • Durst Fetner's West 57th Street pyramid

    More than a year after unveiling plans for a pyramid-shaped building on West 57th Street near the West Side Highway, Durst Fetner Residential will begin carrying the plans through the land-use review process. According to the Wall Street Journal, the developer will start the seven-month effort, which includes votes by the City Planning Commission and City Council today. [more]

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