The Real Deal New York

Posts Tagged ‘manhattan west’

  • 450-w-33rd

    Renderings of 450 West 33rd Street

    Brookfield Office Properties has officially decided to give its 1.7 million-square-foot tower at 450 West 33rd Street a $200 million renovation. [more]

  • developments-nyc

    From left: Renderings of Essex Crossing, Willets Point and Manhattan West

    Several major real estate projects in the city are plowing forward in the early stages of Mayor Bill de Blasio’s administration, despite concerns about the changing climate for development, according to a columnist for the New York Post. [more]

  • Rendering of part of Manhattan West's public space (Credit: Curbed)

    Rendering of part of Manhattan West’s public space (Credit: Curbed)

    Developers of Manhattan West, located only a block away from the Related Companies’ Hudson Yards on Manhattan’s burgeoning Far West Side, want to double the amount of public space the megaproject provides. [more]

  • A rendering of Manhattan West (Credit: Curbed)

    A rendering of Manhattan West (Credit: Curbed)

    From the October issue: Recent architecture in New York City has tended to vacillate between the staid and the iconic. Half of the buildings of note in Manhattan aspire to be the sort of tame comfort fare that New Yorkers have been steadily served since the dawn of the post-war era. (With all the requisite updates, of course.) The other half seek, and sometimes find, a gimmick that sets them apart. [more]

  • alternatetext
    Bruce Mosler and a Hudson Yards rendering
    Adequate transportation will be key to making Manhattan West and Hudson Yards — two mixed-use developments planned for Manhattan’s far West Side — a success, Bruce Mosler, chairman of global brokerage for Cushman & Wakefield, told Bloomberg News today. See the video after the jump.

  • Brookfield CEO Dennis Friedrich, Phil Wharton, director of development, and Manhattan West

    Brookfield CEO Dennis Friedrich, Phil Wharton, director of development, and Manhattan West

    Brookfield Office Properties has begun major construction of a 120,000-square-foot deck for its Manhattan West project, the New York Post reported.

    After years of promises by both Brookfield and the Related Companies – the other major developer in the area with its Hudson Yards project – Brookfield’s move kicks off the first platform over the Amtrak rail yards between Ninth and 12th avenues. [more]

  • Manhattan West project rendering

    Mayor Michael Bloomberg defended his decision to fast-track rezoning in Midtown East at the groundbreaking ceremony for Brookfield Office Properties’ Manhattan West megaproject yesterday, the New York Observer reported. The mayor dismissed concerns that the rezoning would see a flight of corporate tenants to Midtown East at the expense of the new towers at Manhattan West. [more]

  • From left: The groundbreaking ceremony and a rendering of the Hudson Yards

    The multibillion-dollar Hudson Yards development has been making a major push to woo prospective corporate tenants, the New York Times reported. Hudson Yards — which will span from 30th to 42nd streets, between Eighth Avenue to the Hudson River — is expected to create roughly 25 million square feet of office space, 3,200 hotel rooms and 20,000 residential units, a quarter of which have already begun construction. The project’s major players — including Related Companies, Brookfield Office Properties, Extell Development Company, the Moinian Group and Alloy Development — have started to put money into marketing. … [more]

    1 Comment
  • From left: Bruce Mosler, Manhattan West rendering and 450 West 33rd Street

    In an effort to better integrate its existing West 33rd Street tower with its forthcoming multi-billion-dollar Manhattan West project, Brookfield Office Properties is considering undertaking a massive renovation of the former home of the New York Daily News, according to the New York Observer. The 1.7 million-square-foot tower, at 450 West 33rd Street, is adjacent to the rail yards where Brookfield will begin construction in the coming months on a $300 million deck that will serve as the base of a four-tower development. [more]

  • Brookfield's Phil Wharton and a rendering of Manhattan West

    The Far West Side earned the latest confirmation of its potential as a residential neighborhood when office developer Brookfield Office Properties recently said it was considering adding 900 apartments to its Manhattan West project, according to the New York Post. The area already has thousands of new rental units from developers such as TF Cornerstone, Glenwood Management and the Related Companies, and has thousands more on the way from those developers, the Gotham Organization and Iliad Development. [more]

  • Brookfield President Dennis Friedrich, Phil Wharton, new director of development, and Manhattan West

    Long considered only for its office and retail potential, Brookfield Office Properties’ massive Manhattan West development site could include residential, too. Citing information from an investor call, Bloomberg News reported that the developer may include up to 900 residential units in its 5.4 million-square-foot plan.

    “We’ve always highlighted the office density because we’re an office landlord,” said Brookfield Office President Dennis Friedrich said. “But we have the ability to build 900 units on that site. That market has really taken off, and may drive greater value for us, so we took a little bit of time to study that.” [more]

  • A rendering of Manhattan West

    Brookfield Office Properties is awaiting only the go-ahead from Amtrak, which operates the train tracks beneath the site slated for its massive Manhattan West project, before it begins construction on a deck to cover the rail yards.

    The New York Post reported that while Brookfield officials say they are 95 percent of the way to an agreement with Amtrak executives, Amtrak in turn said the sides still have “some substantive” issues to iron out. The developer had previously said construction would start in January. [more]

  • From left: renderings of 250 West 55th Street, Manhattan West and 51 Astor Place

    The city’s low office vacancy rates and slowly rising rents are overshadowing a disturbing office leasing trend, according to the New York Post. Ground-up office projects have been unable to secure major tenants, which in turn has stifled development.

    Yesterday’s news that Silverstein Properties might cap off 3 World Trade Center at seven stories because of its inability to land a tenant, is just the most recent example. [more]

  • alternatetext
    From left: Rendering of Hudson Yards and Related CEO Stephen Ross and rendering of Manhattan West and Brookfield CEO Ric Clark
    In their efforts not to fall behind one another in the development of massive West Side sites, Related Companies and Brookfield Office Properties each plan to begin construction at its property early next year, the Wall Street Journal reported.

    At Hudson Yards, at the LIRR storage area between 10th and 12th avenues and 30th and 33rd streets, Related is close to an agreement with Coach for 600,000-square-feet in the first building set to rise at the sites southeast corner. But financing for the building may not be complete until the developer can ink another tenant. … [more]

  • alternatetext
    From left: David Schechtman, senior director of Eastern Consolidated’s Turnaround and Distressed Group, Christopher Okada, CEO of Okada & Company, and Adelaide Polsinelli, associate vice president of investments at Marcus & Millichap

    Midtown West is quickly becoming a hub of commercial activity, brokers say, in anticipation of the Related Companies’ Hudson Yards development and thanks to new zoning regulations. “Eastern Consolidated, and I personally, have done a tremendous amount of work there,” said David Schechtman, senior director of Eastern Consolidated’s Turnaround and Distressed Group. “There’s a renewed interest in the neighborhood. It’s south of the already established Hell’s Kitchen and the gateway to Hudson Yards. There are big old buildings there that are ready to be repositioned — old, raw material that could be reshaped.”

    As The Real Deal previously reported, Midtown West office building sales rose by more than 100 percent year-over-year in 2011, to $5.7 billion from $1.8 billion in 2010, according to Eastern Consolidated’s recent MetroGrid Report for Midtown West, released last week, which defines Midtown West as the area that extends from 30th to 59th streets, and Fifth Avenue to the Hudson River.  … [more]

  • alternatetext
    Brookfield’s U.S. President and CEO Mitch Rudin
    Since leaving CB Richard Ellis to become president and CEO of Brookfield Office Properties’ U.S. commercial operation, Mitchell Rudin told the New York Observer he’s been busy visiting all seven of the firm’s offices outside New York City.

    Rudin gushed about the portfolio and the people throughout Brookfield’s markets in the interview, and said he’s been trying to keep up with the intricacies of each of those markets. They include Boston, Washington, Houston, Los Angeles, San Francisco, Minneapolis and Denver. … [more]

  • Brookfield Office Properties intends to get a leg up on competitor the Related Companies by using bridge-building technology to cover a 65-foot railroad trench at the site of its new Manhattan West development, Bloomberg News reported. Construction at the site requires covering tracks that shuttle about 100,000 people each weekday into and out of Pennsylvania Station.

    The technology has never previously been used with a building project, and would save two years of labor and cut costs for a platform in half to about $300 million, Brookfield told Bloomberg.

    Brookfield is competing for tenants with Related’s Hudson Yards, among other new office properties slated for completion mid-decade. … [more]

  • Brookfield Office Properties, owners of about 18 million square feet of office space in the New York area, could complete its massive development site between Ninth and Dyer avenues and 31st and 33rd streets, dubbed “Manhattan West,” by 2017, CEO Ric Clark told the New York Times in a Q & A. The plan calls for four buildings, two of which are 2 million square feet each and span the north and south sides of the project, with another 1 million-square-foot building occupying the southwest corner. The fourth, a smaller building whose square footage is still undetermined, will be used for retail or office space. Construction is slated to begin on the project in January, and the first of the two biggest buildings could be ready for occupancy by late 2015, Clark said. … [more]

    1 Comment
  • While for the first time since 2000 Manhattan will see an entire year go by without the opening of a significant new office tower, the borough is gearing up for a surge in new office construction mid-decade, according to recent analysis by the New York Building Congress, released yesterday.

    Manhattan added about 20 million square feet of new office space between 2001 and 2010, a modest offering by historical standards. Nearly 4 million square feet of new office space was created annually in the 1970s and 1980s.

    “It is remarkable how little office space was actually added in Manhattan during the recent building boom,” said Richard Anderson, president of the Building Congress. — Katherine Clarke[more]

  • The Salvation Army’s Greater New York division is closing down at least
    six adolescent housing facilities, Crain’s New York Business reported.
    Among the sites that will be closed are Manhattan West, on West 127th
    Street, and Glover, on East 162nd Street, both to close in September.
    Ninety-eight full- and part-time staffers will lose their jobs. The
    Salvation Army is shutting the facilities because it does not expect to
    get enough city funding, according to a source close to the agency. The
    approximately 72 teenagers who live in the six facilities will be
    transferred to other homes. … [more]