NYC real estate in brief

Mar.March 31, 2009 02:30 PM

Public review begins for Bronx rezoning
The public review process has begun for a rezoning of a portion of 161st Street and River Avenue in the Bronx. The rezoning
would allow new housing, office buildings, hotels and retail in the
area. If the rezoning is approved, about 900 units of new and
affordable housing are expected to be built using inclusionary zoning
incentives for creation or preservation of permanently affordable
housing. The 161st Street and River Avenue rezoning covers one full
block and parts of eight blocks within an area bound by River Avenue on
the west, Park Avenue on the east, East 162nd Street on the north and
East 153rd Street on the south.

Energy Star rated buildings command higher rents, study says
Buildings with high Energy Star ratings are attracting rental premiums
of 3 percent per square foot more than non-green buildings, according to the Royal Institution of Chartered Surveyors. The report also found that for
selling prices, the premium is 16 percent higher than non-green buildings. “With more comprehensive evidence-based research …
the economic argument for having an energy-efficient building will be
strong,” said Matt Bruck, managing director of RICS Americas. “Any
businesses wishing to maximize profits will have to start looking at
increasing the energy efficiency of the buildings in order to remain

Venturis Capital to invest in distressed properties
New York-based real estate investment firm Venturis Capital announced it is
launching a private equity fund to invest in and restructure distressed
real estate. Venturis said the absence of available capital and the
recession has created opportunities for real estate investment, and the
firm plans to invest nationally in distressed real estate through
outside managers and direct co-investment opportunities. TRD

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