The Real Deal New York

Posts Tagged ‘2 gold street’

  • 2 Gold Street

    Originally slated to move back home on Mar. 1 following damages sustained during Hurricane Sandy, tenants at 2 Gold Street will now likely be able to return two weeks earlier, Curbed reported. Building management indicated in a building memo that several new pieces of equipment needed for the final repairs were received. “We are confident that we will receive a green sticker from the Department of Buildings, authorizing full permission to re-occupy the building, on or before February 15, 2103,” the memo reads. “To all of our tenants, we extend our deepest thanks for your patience as we repair and improve the building, and we look forward to welcoming you home.” [more]

  • From left: 88 Greenwich Street, 2 Gold Street and 201 Pearl Street

    Residents of  two luxury buildings in Lower Manhattan, who were displaced by Hurricane Sandy, are lawyering-up and seeking damages. Residents of  88 Greenwich Street filed a $35 million suit against the condo board and property manager, alleging that building management took no precautions against flooding, Law360 reported. The tower was declared uninhabitable.

    Also, residents of 2 Gold Street — who already released an open letter claiming negligence in their building — are suing the developer, owner and manager of their building, TF Cornerstone. [more]

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  • 2 Gold Street

    [Updated Wednesday 12:58 p.m. with additional information from TF Cornerstone] Residents of 2 Gold Street are claiming that TF Cornerstone, the landlord at the 839-unit Financial District apartment tower, has failed to make a good enough effort to relocate tenants or provide them with accurate and consistent information in the wake of Hurricane Sandy, The Real Deal has learned.

    More than 50 residents sent an open letter to TF Cornerstone calling on the developer to improve communication between management and residents, as well as improve support for the residents displaced by the storm. The building sustained serious damage from Sandy and may not reopen for a month or longer. Meanwhile, tenants have been displaced. [more]

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  • Another Financial District office tower is set to undergo a residential conversion. According to the New York Times, Metro Loft Management is converting 116 John Street, one of the last remaining office towers on John Street’s eight-block strip, into a 418-unit rental development. Metro Loft recently bought into a joint venture at the 35-story building with owner Hacienda Intercontinental Realty and now plans to renovate in phases as the office tenants clear out. (The 350,000-square-foot building is currently around 40 percent occupied, but the owners are offering tenants “minor incentives” to leave, Metro Loft principal Nathan Berman said). Avinash K. Malhotra Architects, the team behind 2 Gold Street, is overseeing the $100 million project. … [more]

  • TF Cornerstone signed a 15-year lease to bring Potbelly Sandwich Shop, a Chicago culinary institution, to 2 Gold Street in the Financial District, the chain restaurant’s first New York location. Potbelly’s snapped up the last available retail space in the building, joining Pret-A-Manger, Goodburger, and Hot Clay Oven. Carl Wunderlich and Mike Stone of Cushman and Wakefield represented the landlord while Jeff Roseman, Marc Frankel and Ben Birnbaum of Newmark Knight Frank, represented the tenant in the transaction. TRD[more]

  • Is the baby boom over in FiDi?

    August 19, 2010 01:00PM

    Since its inauguration in the last couple of years as an epicenter for young families, developers in the Financial District have sought to mold it as a toddler-oriented mecca, a sort of southern Tribeca for clans that can afford it, the Observer reported. The $4.5 million Imagination Playground and good public schools continue to attract families, as do the European-feeling streets that are quiet as soon as the closing bell rings. But the “baby boomlet,” as the New York Times called it in 2009, seems to have crested in FiDi, with luxury rentals now more likely to be converted to hold roommates than playpens. According to resident Angela Tai, a creative recruiter originally from Taiwan, each FiDi high-rise has its own identity. Her own building, at 2 Gold Street, is in the mid-range — somewhere between 99 John Street, which is teeming with young children and families, and 200 Water Street, which is “like a “high-end dorm,” she says. Her own building is a good mix of people like her: “childless, but with some money — and dogs,” she says. In addition to the families and singles, amenities for older folks keep popping up in FiDi as well, such as Todd English’s Libertine at the Gild Hall hotel, and Bayard’s Blue Bar. [NYO]


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    From left: K. Thomas Elghanayan and brother Frederick started TF Cornerstone

    Now that the division of Rockrose has been finalized, the two younger Elghanayan brothers are looking to snap up distressed assets. “Our plan is to look for properties that are in some form of incomplete state,” K. Thomas Elghanayan, who with his brother Frederick is now doing business under the name TF Cornerstone, told The Real Deal.
    “We can take something that’s half-built and we can finish it, manage
    it, rent it out, sell it, and do whatever we need to do. We’re looking
    at a couple of opportunities like that, where we’d be buying these
    [properties] from financial institutions.” In fact, he said, TF (for Thomas and Frederick) Cornerstone is close to making a deal on two properties in the New York metro area: one is a “broken condo,” and another is a development deal where construction started and stopped. … [more]