The Real Deal New York

Posts Tagged ‘Battery Park’

  • The Battery Park City turf (credit: DNAinfo)

    A plot of artificial turf ball field located in Battery Park City, which sustained serious flooding during Hurricane Sandy, will have to be replaced entirely, the Broadsheet Daily reported. As of yet, there is no estimate available regarding funding or the time needed to reconstruct the area, located on the West Side Highway between Murray and Warren streets. [more]

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  • From left: Battery Park City Authority President Gayle Horwitz and Asphalt Green in Battery Park City

    Following delays in opening the Asphalt Green community center at 212 North End Avenue in Battery Park City, downtown residents have taken to a petition to demand answers for why the facility is not yet open, DNAinfo reported. A local resident named Erika Teresko posted the petition online last Friday and it has already gained 225 signatures and numerous angry comments. [more]

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  • From left: Preston Scott Cohen, principal of Preston Scott Cohen, Inc., and the pedestrian mall between Goldman Sachs and the Conrad New York Hotel

    Only recently opened, the interstitial space between the backside of the Goldman Sachs Building at 200 West Street and the Conrad New York Hotel has become, unexpectedly, a vibrant hive of life, light and architectural interest. It was designed by the Cambridge, Mass.-based Preston Scott Cohen and initially opened two years ago, only to be sealed off again for further work.

    The space in question, now chock a block with restaurants and purveyors of fine foods and wines, is an example of how architecture can be exemplary in its functionality without necessarily being good as architecture. Through the interplay of three plates that collide at sharp angles, a fairly elaborate glass and steel roof, computer-generated, glazes the curving and irregular space between the two buildings. [more]

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  • From left: Goldman headquarters, the Conrad hotel and Blue Smoke in Battery Park

    Lower Manhattan’s transformation into a 24-hour neighborhood has been widely celebrated over the past year as the World Trade Center complex continues to rise, but according to the New York Times, Goldman Sachs is quietly responsible for much of the area’s growth.

    Since opening its $2.1 billion 200 West Street headquarters in 2009, Goldman has played a key role in transforming the surrounding blocks to appeal to the 8,000 employees stationed at the headquarters and the legions of out-of-town employees that come in for business. [more]

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  • Pier A

    After learning that an under-construction oyster bar and catering hall at the vacant, landmarked, 39,000-square-foot Pier A in Lower Manhattan would also serve a launch point for dinner cruises and other boat excursions, residents raised concerns of noise and pollution disturbing the quiet neighborhood. DNAinfo reported that these residents also told Battery Park officials they are concerned with the amount of tourists who will flock to these cruises  and overcrowd the new, Rogers Marvel Architects-designed public plaza surrounding the pier. [more]

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  • Sheldrake President Christopher Daly and the Riverhouse

    Executives of the development firm behind the Riverhouse condominium in Battery Park City pleaded guilty to fraudulently obtaining $2.2 million from the project’s lender, according to U.S. Attorney for the Southern District of New York Preet Bharara. Sheldrake Organization President Christopher Daly and the firm’s director of asset management, Michael Abreu, submitted duplicate invoices to the project’s unmade lender to obtain additional funds to support the construction of the $573 million Battery Park City project. [more]

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  • From left: Shake Shack, Blue Smoke and Battery Place Market

    Long chided for being too clean, too green and too removed from the city’s buzz, Battery Park City is beginning to establish itself among mature Manhattan neighborhoods. According to the New York Post, it’s starting with a restaurant boom.

    Restaurateur Danny Meyer has opened three eateries in the area, including a Shake Shack at 215 Murray Street, a Blue Smoke at 255 Vesey Street and North End Grill at 104 North End Avenue. [more]

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  • The redevelopment of Pier A in Battery Park City has hit a major hurdle, as Battery Park City Authority officials realized the landmarked structure is in worse condition than initially suspected. According to DNAinfo, that could increase the time and cost necessary to transform the rotting pier into an oyster bar and catering hall. [more]

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  • The Asphalt Green Battery Park City, originally set to open at 211 North End Avenue last month, is being delayed for a third time, this time indefinitely, according to Downtown Express. The original November opening date for the sports and fitness complex was changed to next month followed by Feb. 1, and now no date is being given. “Construction completion is now likely to go past the last projected opening date of Feb. 1 because essential approvals and permits from city regulatory agencies are still pending,” said Matthew Monahan, spokesperson for Battery Park City Authority, which is in charge of the construction and picked Asphalt Green to manage the facility. Plus there is more construction work to be done at the Asphalt Green Battery Park City, which has a facility at 555 East 90th Street, and then it needs time to move in and open. [Downtown Express]

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    Battery Park City Authority CEO Gayle Horwitz and a rendering of ball fields on the community space
    After 43 years as the lead developer of Battery Park City, the Battery Park City authority is nearing completion of its last projects on the neighborhood built on landfill from the excavation of the original World Trade Center site.

    The Wall Street Journal reported that a $50 million community center and sports facility will open in February, and later in 2012, the redevelopment of Pier A will be complete.

    “We are closing one chapter as real-estate developer and opening a new chapter as a building manager,” said Gayle Horwitz, chief executive of the authority. … [more]

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  • Developers taking hurricane precautions

    September 30, 2011 01:07PM

    Even though Hurricane Irene mostly passed over New York without too much damage, there is still lingering concern about what the impact of a larger storm could be on the larger number of developments rising on the New York waterfront, the New York Times reported, as for many the hurricane was the first time many realized they lived in evacuation zone A.

    To limit damage from storm surges and flooding, the city’s comprehensive waterfront development plan, “Vision 2020,” recommends the installation of retractable water-tight gates at the entryways of buildings; investing in the maintenance of seawalls and bulkheads; creating “soft edges” along the shoreline that can accommodate surging tides; and restoring or creating wetlands and barrier islands. According to “Vision 2020,” sea levels by 2050 could be 12 to 29 inches higher than they are today. By 2080, they could be some 55 inches higher. … [more]

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    From left: Yair Levy, Rector Square (source: PropertyShark) and Attorney General Eric Schneiderman

    A state Supreme Court judge has ordered developer Yair Levy to pay $7.4 million in restitution to the Rector Square condominium and permanently banned him from selling real estate in New York state.

    Judge Joan Lobis found last month that Levy defrauded the Battery Park City condo conversion, spending millions of dollars in reserve fund money on illegal personal and general business expenses, including charge card accounts, mobile phone bills and writing checks to family members.

    The judgment permanently bans Levy from selling condos or co-op projects in New York state, virtually ending a career lasting more than 30 years in the U.S. … [more]

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  • To look out the windows from the 10th floor of Larry Silverstein’s shiny new 7 World Trade Center is to take visual stock of how far Lower Manhattan has come since Sept. 11, 2001. There’s the already-skyscraping 1 World Trade Center to the right, Towers 3 and 4 rising to the left, the soon-to-open memorial plaza below, and the new W Downtown staring back from across the construction site. A few blocks to both the east and west, Lower Manhattan now houses more residents than it has ever before seen, and still more are moving in — in droves. And soon, of course, Condé Nast will arrive, and with it, as is presumed to be the case, so will the neighborhood.

    So this morning, when some of the most important architects of this turnaround convened to celebrate “The New Downtown,” alongside the NYU Schack Institute of Real Estate and Silverstein Properties, there was a natural, and deserved, optimism in their voices (see photos above). But there was also an unmistakable air of exasperation, as if to say, what else can we possibly do to get major retailers and restaurateurs to take notice? … [more]

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  • An agreement struck today could prove crucial in ensuring existing Battery Park City residents can continue to afford their homes. According to Crain’s, the Battery Park City Authority, the public agency that manages the neighborhood, voted to pass a two-month old proposal to cut monthly ground rents for condominium owners in 11 buildings by $279 million over the next 30 years. Established in the mid-1980s, ground rents force owners to pay rent on the ground upon which their building stands and costs were scheduled to more than double over the next few years, and total $804 million through 2042. … [more]

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  • BPC ground-rent increases scaled back

    March 11, 2011 02:40PM

    A planned 63 percent spike in ground rents in Battery Park City has been averted, according to Crain’s, after New York State Assembly Speaker Sheldon Silver helped broker a deal to reduce that increase. Ground rents, which are paid by residents to the Battery Park City Authority, vary among the 2,400 condominium unit owners in Battery Park City’s 11 buildings. The tentative agreement, reached Wednesday, will raise ground rents by 33 percent next year and could save residents of the Lower Manhattan neighborhood $279 million over the next three decades. … [more]

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  • The exterior of 1 Rector Park, the lobby and the children’s playroom

    The offering plan for 1 Rector Park, a new condominium at 333 Rector Place in Battery Park City, has been declared effective by the attorney general’s office, Corcoran Sunshine Marketing Group announced today. Residents will soon be able to close on their new homes, on the corner of South End Avenue and Rector Place, and move in this spring. Since relaunching sales in September 2010, 1 Rector Park already has over 30 percent of the units under contract.The building features a recently completed lobby designed by Rick Livingston of Period LLC, with crystal chandeliers, mahogany textured walls and custom sofas. TRD[more]

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    Rector Place and Yair Levy

    Embattled developer Yair Levy and his son-in-law Daniel Deutsch are facing a $20 million lawsuit from unit owners at the Rector Square condominium, alleging they failed to complete construction and pay common charges as well as illegally converted funds at the property, all before the building was foreclosed on by Anglo Irish Bank.

    The suit, filed Dec. 13 in New York State Supreme Court, claims that residents of the 304-unit building, at 225 Rector Place, have been unable to refinance, sell or get approval for any financial transactions at the building due to Levy defaulting on nearly $165 million in loans at the building, which led to the 2009 foreclosure. … [more]

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  • Battery Park Cinema gets a makeover

    December 02, 2010 02:36PM

    A renovation is underway at the Battery Park City Regal Cinema in the Embassy Suites Hotel, owned by Goldman Sachs. The box office and entrance to the theater are being moved to the second story, and the newly vacant space will be absorbed back into the hotel, a Regal employee told the Broadsheet Daily. Embassy Suites is also being redesigned. The hotel is slated to close in early January for a gut renovation that will transform it into a Conrad Hilton. … [more]

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    From left: Andrew Cuomo, Rector Square and Yair Levy

    A state Supreme Court judge ruled today that Attorney General Andrew Cuomo can proceed in his civil suit against developer Yair Levy, who is facing banishment from future condominium unit sales after he allegedly misappropriated millions of dollars from the Rector Square reserve fund.

    Cuomo sued Levy, alleging that the man formerly known as the “condo king” illegally withdrew $1.6 million in reserve funds at the 303-unit building in Battery Park City, and signed over checks to family, while using the money to pay credit card bills at Macy’s and Verizon Wireless.
    [more]

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  • Bank wins unsold shares at Rector Square

    November 17, 2010 03:11PM

    Rector Square and Yair Levy

    Anglo Irish Bank acquired unsold shares of Rector Square, the troubled Battery Park City condominium, during a public auction at the New York state Supreme Court this afternoon, with a winning bid of $82.75 million.

    Anglo Irish, the senior lender at the 304-unit building at 225 Rector Place, plans to resell the building to new investors, according to the bank’s attorneys, who explained that the bank wanted to make sure the property had stable ownership going forward.

    “The bank invested so much in [the building] that it’s interested in seeing that the building finds a good home,” said Herrick Feinstein attorney Chris Sullivan, who represented Anglo Irish in its foreclosure case against the property. … [more]

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