The Real Deal New York

Posts Tagged ‘construction’

  • Peter Serpico John Mingione

    From left: Peter Serpico and John Mingione

    Two mid-level construction firms are looking to build a future together.

    Omnibuild Construction, the company behind the 35-story, 600-key Doubletree Hotel project at 350 West 40th Street in Midtown, will buy a longtime collaborator, Cava Construction.

    Cava’s CEO Peter Serpico will lead the new firm, while Omnibuild’s founder John Mingione will serve as COO. [more]

  • Richard Anderton

    A construction site on the West Side (inset: Richard Anderson)

    Driven by a boom in residential development, construction activity in New York City is soaring.

    The New York Building Congress is forecasting construction spending to break the $40 billion barrier next year for the first time in the city’s history. [more]

  • Citi Field in (inset: Fred Wilpon)

    Citi Field in Queens (inset: Fred Wilpon)

    With the Mets on their way to their first World Series in 15 years, the team is projecting booming attendance in 2016. That’s good news for the holders of Citi Field construction bonds. [more]

  • Tall expectations

    September 12, 2015 02:00PM
    From left: 432 Park Avenue when it topped out last year and a view of it’s 75-foot indoor swimming pool

    From left: 432 Park Avenue when it topped out last year and a view of it’s 75-foot indoor swimming pool

    From Luxury Listings NYC:promotional video for 432 Park Avenue from 2014 has a sped up time-lapse video of the construction progress. From a hole in the ground, the building grows, higher and higher as if by magic. And befitting a fantasy tower, when finished, it will have the highest roof in New York City at 1,396 feet and will be the tallest residential tower in the world. That is, until 217 West 57th Street (aka the Central Park Tower), right down the block, finishes construction in 2018 at 1,522 feet.

    Magic, of course, is not how 432 Park — or any of the mega-expensive, supertall towers on the stretch of Midtown from Park to Eighth Avenue around 57th Street — are being built. Hordes of construction workers have been toiling diligently for long hours in the summer heat to erect them on time and on budget. But what do they really think about them? I went to find out. [more]

  • Skyscraper glass costs are soaring

    September 09, 2015 08:31AM

    A rendering of Hudson Yards (inset: Bruce Beal Jr.)

    All the money and ambition in the world isn’t enough to build New York’s towering glass-and-steel high-rises. You need to be able to buy glass, too.  [more]

  • Contractors go global

    July 25, 2015 09:20AM
    A luxury apartment in One57

    A luxury apartment in One57

    From Luxury Listings NYC: Building contractors can conjure images of coarse, cigar-smoking tradesmen. But in Manhattan’s high-pressure, high-dollar residential market, some contractors have risen to a new social sphere, as cosmopolitan, jetting-setting moguls in their own right. [more]

  • mjs-standalone-hoan-13-p2-_mjs_-mjd_-fea
    The current construction boom is making life hell for thousands of city dwellers. The round-the-clock construction noise has led to record noise complaints. Call NYC a victim of its own success. [more]

  • Market reports

    (credit: New York Building Congress)

    The latest batch of reports from around the industry found that pending home sales hit a nine-year high in April and average wages for New York City construction workers fell flat in 2014. [more]

  • 500 Fourth Avenue

    500 Fourth Avenue

    While developers are swiftly breaking ground on new projects all over Brooklyn and taking advantage of high property values, the quality of their buildings might be suffering.

    As more residents move into the newly built construction, some worry that mistakes from the last housing boom — shoddy construction, bringing substandard product to the market — are being repeated, according to the New York Times. [more]

  • 5075612989_f0834ef2e3_z

    Construction site (Photo: Pedro Moura Pinheiro on Flickr)

    Construction costs in the U.S. hit a record level after declining slightly in 2008, according to a report by property and construction firm Rider Levett Bucknall.

    The firm’s quarterly index of construction costs, which are rising at the fastest pace in six years, increased 1.66 percent between July and Oct. 1. According to the report, this is the largest three month increase in building costs since the beginning of 2008. [more]

  • 247-hancock

    247 Hancock Street in Bed-Stuy, and Jonathan Miller

    New York City construction loans are on the rise as neighborhoods such as Harlem and Bedford-Stuyvesant undergo a major makeover.

    The number of loans increased 24 percent to 233 during the first half of this year compared to the same period in 2012. The U.S. arm of TD Bank, for example, saw construction loan volume in the New York area grow by 15 percent through mid-November compared with all of last year, Bloomberg News reported. [more]

  • Construction in New York City

    Construction in New York City

    From the October issue: A few years from now New York City’s skyline will look a lot different. New buildings will soar on the Far West Side, Long Island City will be even more filled out than it is today and the finishing touches will be put on high-profile residential buildings both Uptown and Downtown. [more]

  • From left: Related's Stephen Ross, 30 Hudson Yards, 10 Hudson Yards and Tishman Speyer's Rob Speyer

    From left: Related’s Stephen Ross, 30 Hudson Yards, 10 Hudson Yards and Tishman Speyer’s Rob Speyer

    From the October issue: It’s no shock to hear that 1 World Trade Center, the centerpiece of the famed Lower Manhattan development site, has a construction price tag of $3.8 billion dollars. But that world-famous tower is not the only New York City building that developers are forking over that much money to construct. [more]

  • 040-041 Construction main se FINAL.indd

    From the October issue: The skyrocketing price of land has been on the lips of every developer and investment sales broker in New York City for the last few years. [more]

  • Approved permits for new housing units in New York City

    Approved permits for new housing units in New York City

    New York City is falling behind other cities when it comes to building new housing. [more]

  • Photo and rendering of 433 Broadway

    Photo and rendering of 433 Broadway

    In the “Hollow Men,” T.S. Eliot wrote: “Between the idea/ And the reality/ Between the motion/ And the act/ Falls the Shadow.” I thought of those lines, oddly enough, when looking at 433 Broadway, which is located on the northwest Broadway and Howard and is nearly at its completion. [more]

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  • From left: Manhattan West, Hudson Yards and One World Trade Center

    From left: Manhattan West, Hudson Yards and One World Trade Center

    Manhattan will see office space increase by 9 million square feet in the three years between 2013 and 2015, according to a new report from the New York Building Congress. That would be the fastest pace of development since 1990. [more]

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  • structure-tone

    From left: Structure Tone’s Bob Mullen and Cyrus Vance

    Construction giant Structure Tone admitted to defrauding several law firms, banks and advertising agencies out of millions over a four-year period. The firm pleaded guilty yesterday in New York State Supreme Court.

    Structure Tone, which was tapped to construct Sony’s new Madison Avenue headquarters, also said it would forfeit $55 million related to the scheme. The company’s specialty is building interiors and office space. It arranged for subcontractors to add millions in inflated costs of office space for Bloomberg, Bank of America and others between 2005 and 2009. [more]

  • From left, plans for 41 E 22nd Street, the current lot at the address

    From left, plans for 41 E 22nd Street, the current lot at the address

    WEEKENDEDITION Continuum Company has unveiled new images for what its new residential tower at 41 East 22nd Street will look like once it is completed. [more]

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  • From left:

    From left: Louis Coletti, Jay Badame, Richard Anderson and Barry LePatner

    From the April issue: New York may have been one of the last cities in the country to get hit by the recession and one of the first to recover from the real estate downturn, but that doesn’t mean there wasn’t suffering here. And among the hardest hit segments of real estate was the construction sector. [more]