NYC real estate in brief
Long Island City infrastructure project begins
A $76.4 million renovation of parts of Long Island City kicked off today with a groundbreaking ceremony at the soon-to-be-removed Queens Plaza North commuter parking lot. The first phase of the project is aimed at improving roadways and traffic infrastructure between Queens Plaza North and South and between Queens Plaza East and 21st Street, according to a press release from the New York City Economic Development Corporation. New sidewalks and wider, landscaped medians are also included in the initiative.
Sierra Realty selected to manage office building in historic district
Sierra Realty was selected to handle management and leasing at 648 Broadway, a 10-story commercial office building between Bond and Bleecker streets in Noho’s historic district. The cast iron renaissance revival building is over 115 years old, according to a Sierra spokesperson. The building’s owner had been managing the facility for the last 20 years. The 50,000-square-foot space currently houses 15 commercial tenants and one retail tenant. The building was designed by architects Cleverdon & Putzel, who were responsible for several structures in Manhattan’s historic districts, including the Noho Historic District,Carnegie Hill Historic District and West 76th Street Historic District.
New CEO named at sustainable development research organization
Patrick Phillips has been appointed the new CEO for the Urban Land Institute, a non-profit global research organization focused on sustainable development. Phillips, a current ULI trustee, will take over the post for Richard Rosan, who has been with the Institute for the last 17 years, according to a press release sent out by the organization. ULI has been responsible for several recent reports emphasizing ways to improve transportation infrastructure through environmentally sustainable, fiscally responsible investments.