The Real Deal New York

Posts Tagged ‘silverstein properties’

  • Larry Silverstein and a rendering of 3 World Trade Center

    Larry Silverstein and a rendering of 3 World Trade Center

    Developer Larry Silverstein’s Silverstein Properties plans to sell $1.6 billion of tax-exempt bonds as soon as next week, in an effort to finance the 3 World Trade Center project.

    Silverstein said he hopes an uptick in the municipal bond market makes for a successful sale. The developer has struggled to find investors for the 1,170-foot-tall, 2.5 million-square-foot tower. The property is only 20 percent leased, thus amplifying the risk for potential bondholders. [more]

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  • riverside

    Riverside Center rendering and Janno Lieber

    Silverstein Properties unveiled details about its Riverside Center project, which has a “poor door,” or a separate entrance for tenants residing in the affordable units in the building. [more]

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  • From left: Larry Silverstein and Udi Erez

    From left: Larry Silverstein and Udi Erez of Elad Group

    Silverstein Properties and the Elad Group, developers of the 366-unit residential project at 1 West End Avenue, are seeking $500 million in consortium funds that would likely replace the project’s acquisition and predevelopment financing. [more]

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  • Clark-245-1251-ESB-Malkin

    From left: Ric Clark, 245 Park Avenue (Credit: CoStar), 1251 Sixth Avenue, Empire State Building and Anthony Malkin

    The sales pricing per square foot for Manhattan office buildings has been surging over the past several years. A look at revenue growth for class A office towers, however, reveals a far different picture. [more]

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  • Gary Barnett and 157 West 57th Street

    Of the five luxury housing developers for whom controversial tax break measures were crafted in January 2013, only two have actually applied for and received the credits, according to Department of Housing Preservation and Development data.

    Silverstein Properties, Thor Equities, Friedman Management, Fisher Brothers and Extell Development Company have come under fire and were hit with subpoenas from the Moreland Commission as part of an investigation into public corruption before the agency was suspended in March. But of the five, only Extell and Friedman have actually secured the 421-a exemptions thus far, the New York Observer reports. [more]

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  • silversteinW41final

    From left: Larry Silverstein and 520 West 41st Street

    Silverstein Properties is slated to present a proposal before the Department of City Planning tomorrow, to argue why the 106-story Hudson Yards tower project should be zoned for more residential use. [more]

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  • 4-wtc

    From left: 4 World Trade Center, Mary Ann Tighe and Jeremy Moss

    Marketing software developer MediaMath inked a 15-year lease for 106,000 square feet at Silverstein Properties’ 4 World Trade Center. [more]

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  • A rendering of 30 Park Place (Credit: Archpartners)

    A rendering of 30 Park Place (Credit: Archpartners)

    Buyers looking to roost at Silverstein Properties’ 30 Park Place may not want to dawdle: there are only 14 units currently up for grabs, according to a recent availability list obtained by The Real Deal. [more]

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  • 20140702_silverstein_520_west_rules

    From left: Larry Silverstein and 520 West 41st Street rendering

    Larry Silverstein wants to pack lucrative residential space into his recently revealed 106-story West Side tower, but he’ll need the city to change the zoning rules in order to do so.

    Current zoning only allows for about half of the residential space Silverstein wants to include at 520 West 41st Street, Crain’s reported. The building is located within the Hudson Yard Special District, where rules stipulate that buildings should primarily provide commercial space. [more]

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  • Larry Silverstein and 3 World Trade Center renderings

    Larry Silverstein and 3 World Trade Center renderings

    UPDATED, 3:42 p.m., June 25: The Port Authority of New York and New Jersey voted today to release roughly $159 million of insurance money that was paid by insurers following the destruction of the original World Trade Center complex and is currently held in a reserve fund. The move will help Larry Silverstein to finance the construction of 3 World Trade Center. [more]

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  • From left: Scott Rechler, a rendering of 3 World Trade Center and Larry Silverstein

    From left: Scott Rechler, a rendering of 3 World Trade Center and Larry Silverstein

    The Port Authority of New York & New Jersey board of commissioners is set to decide Wednesday whether to give $150 million in insurance funds to developer Larry Silverstein to finance the construction of the 3 World Trade Center project. [more]

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  • From left: Silverstein Properties Martin Burger and Tal Kerret and Fundrise's Ben and Daniel Miller

    From left: Silverstein Properties’ Martin Burger and Tal Kerret and Fundrise’s Ben and Daniel Miller

    Fundrise received more than $31 million in its first substantial capital raising, the real estate crowdfunding website announced last night. Silverstein Properties’ chief executive Martin Burger and chief investment officer Tal Kerret, along with Ackman-Ziff Real Estate Group, are among the investors in the Series A round. The $31 million in capital positions Fundrise as one of the industry’s most well-funded startups. [more]

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  • 160-imlay

    Rendering of 160 Imlay Street in Red Hook

    Silverstein Properties’ 82-story condo-hotel in Tribeca and Bushburg Properties’ 69,000-square-foot mixed-use site in Gowanus are among the latest projects to receive a new batch of mind-blowing renderings in the past week or so. Click here for the slideshow and more.

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  • 514 Eleventh Avenue

    514 Eleventh Avenue

    WEEKENDEDITION Renderings of a tower that could be coming to the site of a former Mercedes-Benz dealership on West 41st Street have turned up and they are, if anything, extremely ambitious. [more]

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  • From left: Scott Rechler, rendering of 3 World Trade Center and Larry Silverstein

    From left: Scott Rechler, rendering of 3 World Trade Center and Larry Silverstein

    The Port Authority of New York and New Jersey is angling for an ownership stake in 3 World Trade Center as part of an agreement to grant a $1.2 billion construction loan to Silverstein Properties. [more]

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  • From left: A rendering of 3 World Trade Center, Scott Rechler and Kenneth Lipper

    From left: A rendering of 3 World Trade Center, Scott Rechler and Kenneth Lipper

    The Port Authority of New York and New Jersey is set to delay by a month a vote on whether or not to pledge a further $1 billion for Silverstein Properties’ 3 World Trade Center tower in Lower Manhattan. Officials were to meet this afternoon to decide on the fate of the controversial proposal, which would see the authority raise its financing guarantee to $1.2 billion from the current $200 million. [more]

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  • Renderings of 3 World Trade

    Renderings of 3 World Trade

    The Port Authority of New York and New Jersey’s real scandal isn’t the lane-closing on the George Washington Bridge — it is a decades-long practice of diverting the body’s funds into real estate investments, according to New York Times columnist Joe Nocera.

    The Port Authority, Nocera wrote yesterday, is charged with improving transportation infrastructure in both states. Yet tolls creep up while needed funds are funneled into real estate projects like the World Trade Center, which claimed at least $7.7 billion in the rebuilding of the area around Ground Zero after Sept. 11. An additional $4 billion “went to an over-the-top PATH station,” Nocera opined, while another $3.3 billion went to the building of One World Trade Center. [more]

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  • From left: Larry Silverstein and Ground Zero

    From left: Larry Silverstein and Ground Zero

    The head of a citizen watchdog group filed suit to uncover documents spelling out how much World Trade Center developer Silverstein Properties has invested in the site’s rebuilding. [more]

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  • 4-times-square

    4 Times Square

    Corporate law firm Skadden, Arps, Slate, Meagher & Flom is reportedly considering relocating from 4 Times Square after its lease expires in six years. Brookfield Properties and Silverstein Properties are among the developers to receive a request for proposals for roughly 450,000 square feet.

    Skadden Arps has occupied the Durst Organization-owned building with Condé Nast since the tower opened in 1999. Condé Nast is moving to 1 World Trade Center in November, as previously reported. Brookfield is slated to soon break ground on Manhattan West, while Silverstein is behind three new World Trade Center sites. [more]

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  • 514-11th-ave

    514 11th Avenue

    Larry Silverstein’s Silverstein Properties unveiled renderings for its 60-story residential tower at 514 11th Avenue on Manhattan’s West Side. [more]

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