The Real Deal New York

Posts Tagged ‘forest city ratner’

  • Atlantic Yards rendering (Credit: SHoP) and Bruce Ratner

    Atlantic Yards rendering (Credit: SHoP) and Bruce Ratner

    Two weeks after Forest City Ratner kicked off construction of the first residential tower at Atlantic Yards, work has stalled yet again. [more]

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  • atlantic-yards-david-larue

    Atlantic Yards rendering and David LaRue

    The $500 million that Forest City Ratner invested in their Atlantic Yards megaproject in Brooklyn may be worth less than half that amount, according to a filing by the developer with the Securities and Exchange Commission this week.

    “Clearly, we are disappointed,” said David LaRue, chief executive of Forest City Enterprises. [more]

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  • From left: Rendering of Atlantic Yards (Credit: SHoP Architects) and a U.S. visa

    From left: Rendering of Atlantic Yards (Credit: SHoP) and a U.S. visa

    Cause of Action, a watchdog group, has accused Forest City Ratner of misrepresenting the risk to foreign investors of backing its $4.9 billion Atlantic Yards project, and asked federal legislators to investigate the developer.

    Forest City allegedly exploited census data to entice foreign investors to use the EB-5 program, which provides visas in exchange for creating American jobs. Cause of Action completed an 18-month investigation of its own before appealing to the U.S. House Committee on Oversight and Government Reform. [more]

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  • gilmartin-durst

    From left: MaryAnne Gilmartin, Cynthia Nixon and Douglas Durst

    Real estate heavyweights MaryAnne Gilmartin, CEO of Forest City Ratner, and Douglas Durst, head of the Durst Organization, were among 60 chosen for Mayor-elect Bill de Blasio’s transition team. Their task is to advise the incoming mayor on who to appoint to his administration. [more]

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  • From left: Zhang Xuliang, an Atlantic Yards rendering (Credit: SHoP) and Bruce Ratner

    From left: Greenland Group’s Zhang Xuliang, Atlantic Yards rendering (Credit: SHoP) and Bruce Ratner

    A Chinese developer that recently snapped up a majority stake in Atlantic Yards is feeling the wrath of Brooklyn’s community leaders. Critics gathered today to demand Greenland Group speed up the construction of 2,250 units of affordable housing promised for the controversial project. [more]

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  • MaryAnne Gilmartin and the Barclays Center

    MaryAnne Gilmartin and the Barclays Center

    Forest City Enterprises gave slightly less than $9 million to political candidates and lobbyists to push through two of its developments —Brooklyn’s $4.9 billion Atlantic Yards and a mixed-use project in Albuquerque, N.M. – but failed to make good on its promises to create jobs and affordable housing, according to a new report by a conservative watchdog group.

    Forest City denied the accusations and told The Real Deal that it will fulfill its commitments to the community. [more]

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  • From left: Zhang Xuliang, an Atlantic Yards rendering (Credit: SHoP) and Bruce Ratner

    From left: Zhang Yuliang, an Atlantic Yards rendering (Credit: SHoP) and Bruce Ratner

    The Chinese investor that snagged a majority interest in Forest City Ratner’s Atlantic Yards development is looking to complete the $5 billion project in just eight years. Zhang Yuliang, the chairman of state-owned Greenland Holding Group told reporters in Shanghai last week about his intended timeline for the development. [more]

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  • From left: Larry Silverstein, MaryAnne Gilmartin, William Mack and Bill Rudin

    From left: Larry Silverstein, MaryAnne Gilmartin, William Mack and Bill Rudin

    Stay on your toes: That’s the message from the “titans” of New York City real estate. Major infrastructural changes are afoot, thanks to transformative projects like Hudson Yards, Atlantic Yards and the World Trade Center, and with the lending landscape fundamentally changed since the recession and a spike in interest from international investors fueling competition, it’s all the more important to get creative with project partnerships. [more]

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  • MaryAnne Gilmartin and a rendering of a pre-fab tower at Atlantic Yards

    MaryAnne Gilmartin and a rendering of a pre-fab tower at Atlantic Yards

    Forest City Ratner has filed a lawsuit demanding that the city slash its valuation of a section of the Atlantic Yards megaproject, despite the developer having received at least $761 million in subsidies and tax breaks from the city and the state for the project.

    The city’s Department of Finance valued the land on the southern side of the project, known as block 1129, at $11.2 million in the 2013 fiscal year. The land currently holds a parking lot, but is slated for high-rise construction. [more]

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  • From left: 375 Pearl Street, MaryAnne Gilmartin and One MetroTech Center

    From left: 375 Pearl Street, MaryAnne Gilmartin and One MetroTech Center

    Forest City Ratner has signed private high school the Brooklyn Friends School to MetroTech Center, the developer announced today. Brooklyn Friends, a Quaker school headquartered at 375 Pearl Street in Downtown Brooklyn, will move its upper school to a new 45,000-square-foot space being designed by FXFOWLE architects at the center, located at 116 Lawrence Street. [more]

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  • barclays-center

    Barclays Center

    Despite attracting star-studded events like the MTV Video Music Awards and concerts by the likes of Beyoncé and Paul McCartney, Brooklyn’s Barclays Center hasn’t been able to stay on pace financially. [more]

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  • Jill Abramson and 620 Eighth Avenue

    Jill Abramson and 620 Eighth Avenue

    The New York Times is aiming to further downsize its space at its Renzo Piano-designed headquarters at 620 Eighth Avenue. The newspaper is looking to lease the single floor that it owns in the 52-story building, developed by Forest City Ratner. [more]

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  • ZhangXuliang1ATlanticYards

    From left: Zhang Xuliang, an Atlantic Yards rendering (Credit: SHoP) and Bruce Ratner

    Forest City Ratner has sold 70 percent of the Atlantic Yards megaproject in Brooklyn, to Shanghai-based developer Greenland Group, Forest City announced today. The agreement covers both phases of the project but excludes both the Barclays center and the first residential tower, B2, the statement said. Forest City will manage the day-to-day project activities on behalf of the joint venture. [more]

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  • Commercial real estate firm Trinity Place Holdings appointed a former Forest City Ratner executive as its new CEO and president, the firm said. [more]

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  • Bruce Ratner and the Nassau Coliseum

    Bruce Ratner and the Nassau Coliseum

    Bruce Ratner’s Forest City Ratner won unanimous approval from the Nassau County Legislature on Monday to move ahead with a $229 million redevelopment plan for the Nassau Coliseum. [more]

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  • New York by Gehry at 8 Spruce Street

    New York by Gehry at 8 Spruce Street

    Forest City Ratner’s residential skyscraper New York by Gehry is renewing tenants’ leases without spiking the rent, possibly signifying a plateau for the high-end rental market. [more]

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  • ratner-atlantic-yards

    Atlantic Yards rendering (Credit: SHoP) and Bruce Ratner

    Bruce Ratner is seeking an investor to purchase as much as 80 percent of the $5 billion Atlantic Yards development. [more]

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  • david-larue-forest

    Barclays Center and Forest City Enterprises’ David LaRue

    Forest City Enterprises has been mixing business and politics for the past decade, swapping $23 million in campaign donations for $2.6 billion in government funds, according to a new report cited by the New York Post. [more]

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  • Rendering of Atlantic Yards residential project, Bruce Ratner

    B2 Atlantic Yards, Bruce Ratner

    UPDATED, 4:46 p.m., July 10: The Plumbing Foundation of New York City, a nonprofit association of licensed contracting firms, manufacturers and suppliers, has sued the Department of Buildings, alleging that developer Bruce Ratner’s plan to build prefabricated apartment towers at Atlantic Yards ignores major building safety rules, the NY Daily News reported.

    [more]

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  • A rendering of Cornell NYC Tech and Forest City Ratner CEO MaryAnne Gilmartin

    A rendering of Cornell NYC Tech and Forest City Ratner CEO MaryAnne Gilmartin

    Cornell University today announced that it has reached a preliminary deal with developer Forest City Ratner to be the “master developer” for the first phase of work at the school’s technology campus on Roosevelt Island, Crain’s reported. The developer will build two buildings. [more]

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