New York City Real Estate

Tiffany

Riccardo Ravasini — Fri, 17 May 2013 20:24:23 +0000

This month in 1939, Tiffany&Company announced it would relocate to 727 Fifth Avenue, 20 blocks north of its former store location at that time.
Tiffany’s headquarters at 401 Fifth Avenue was built in 1905 but by 1939 the area south of 42nd Street was losing its high-end shopping hub allure, the action was moving north.
In 1939 the New York Times wrote: “The move provides a significant touch of stability to the street, which has become known as America’s Rue de la Paix”, referring to the Paris thoroughfare.
The jewelry store moved into its newly constructed eight-story building in October 1940.

Tiffany

Riccardo Ravasini — Fri, 17 May 2013 20:12:03 +0000

Questo mese nel 1939 Tiffany&Co annunciava che avrebbe trasferito il quartier generale alla location che tutti oggi conoscono: 727 Fifth Avenue (incrocio 57esima), 20 blocchi a nord della location precedente la quale era sita a 401 Fifth Avenue e venne costruita nel 1905. Ma verso la fine degli anni 30 la parte a sud della 42esima strada stava perdendo lo splendore di un tempo e perdendo i negozi di più alta qualità che si trasferivano man mano verso la 57esima.
Nel 1939 il New York Times dava il benvenuto allo spostamento di Tiffany nella nuova posizione, paragonando la quinta avenue alla Rue de la Paix a Parigi.

LES

Riccardo Ravasini — Thu, 16 May 2013 17:44:51 +0000

Lower East Side (LES)

Il giornale The Real Deal riporta dei fatti interessanti riguardo il Lower East Side, la zona sud-est di Downtown Manhattan. Questa è una parte della città che si presta ad un vivace futuro svilippo immobiliare.

La società di costruzioni Extell ha recentemente pagato $150 milioni per una parcella che era precedentemente di un discount store al 227 Cherry Street. La società ha in programma di costruire un grattacielo a destinazione residenziale sul sito (il quale nome dovrebbe essere The Lo-Down).

Un’altra parcella di grandi dimensioni, ovvero 1,65 milioni di piedi quadrati che rappresentano la più grande fetta di terra a sud della 96esima strada posseduta dalla Città di New York che non sia stata ancora sfruttata dal 1967 quando venne rasa al suolo, è sul mercato e la gara d’appalto si dovrebbe svolgere questo mese. Il sito si chiama Seward Park. Ci furono due tentativi di svilupparlo nel 1981 e 2003, entrambi senza successo. Questa volta qualcosa mi dice che ce la faranno dato il disperato bisogno di nuova costruzione a Manhattan. Il progetto comprenderà un totale di circa 1.000 appartamenti e 600mila piedi quadrati di spazio commerciale al dettaglio.
Un altro progetto a LES è una palazzina di 12 piani e 38 appartamenti che si ergerà a 100 Norfolk Street. Anche il sito di 215 Chrystie Street è passato recentemente di mano, prezzo $50 milioni. Qui sarà costruita una torre residenziale di 25 piani (i primi 17 piani sarnno dedicati ad un albergo del marchio Public il resto sarà appartamenti).

Per informazioni su come comprare o affittare casa a NYC: rava@ravarealty.com telefono: +1 917 214 2509

LES

Riccardo Ravasini — Thu, 16 May 2013 17:40:56 +0000

Lower East Side (LES)

The Real Deal reports interesting facts about the Lower East Side neighborhood of Manhattan. This is a new up and coming area for future city development.

The construction company Extell paid nearly $150 million for the site of a now-shuttered Pathmark store at 227 Cherry Street. The firm is expected to build a high rise residential rental tower on the site (apparently its name will be The Lo-Down).

More importantly a 1.65 million-square-foot development site, the largest piece of undeveloped city-owned land south of 96th Street that has been vacant since 1967 when the site was vacated and bulldozed, is on the market and bids from the largest development companies in New York are due this month. The site is called Seward Park. Unsuccessful attempts to develop it were made in 1981 and 2003. This time something tells me the story will be different, given the City desperately needs some new construction. The project calls for a total of about 1,000 apartments and 600,000 square feet of retail.

On a smaller scale, the LES is getting a new 12-story, 38-unit residential building at 100 Norfolk Street. Also, at the end of last year, investors purchased a site at 215 Chrystie Street for $50 million. The new owners plan on building a 25-story tower, with the first 17 floors devoted to a Public brand hotel and the remaining floors serving as residential space.

For more information on NYC real estate: +1 917 214 2509 rava@ravarealty.com

500 Metropolitan

Riccardo Ravasini — Thu, 02 May 2013 21:58:28 +0000

Construction has finally resumed at the stalled 500 Metropolitan Avenue site in Williamsburg — once dubbed “The Gateway to Williamsburg.” The 15-story project will be mixed use, with 148 hotel rooms and 81 residential units, and slated to be completed in 2015. The developer is still Chetrit Group, the architect is still Gene Kaufman, and the building will still be wedge-shaped and glassy. The construction has been on ice since 2008 during the economic downturn. Nice to see that this project is breaking ground..We’ll be keeping an eye on this project.

For more information on NYC real estate: +1 917 214 2509 rava@ravarealty.com

Jehovah’s Witnesses sell Dumbo site

Riccardo Ravasini — Mon, 29 Apr 2013 16:56:59 +0000

The Jehovah’s Witnesses recently sold three of their Dumbo, Brooklyn sites (located at 173 and 177 Front Street and 200 Water Street) for $30.6 million in apparent preparation for their move upstate. Brooklyn developer Shelly Listokin of Urban Realty Partners is the buyer. (Listokin was one of the developers of Brooklyn’s 20 Henry Street condo.) The area is apparently zoned for hotel, residential and community use. Time will soon tell what develops in this coveted area.

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brooklyn boom

Riccardo Ravasini — Fri, 26 Apr 2013 15:19:10 +0000

Brooklyn home prices are getting so high, some buyers are heading back to Manhattan. The median price of a Brooklyn home in the first quarter rose 14.4% to $515,000, the highest price reached since the second quarter of 2008, according to a report from Douglas Elliman. Brooklyn’s prices are being pushed up by strong demand coupled with a sharp decline in inventory, which fell 45% in the quarter to a five-year low. Prices in North Brooklyn, which includes the luxury condos of Williamsburg, jumped by 30% in the quarter to $691,000. But sales fell sharply — by 45%. Even east Brooklyn, which has been an epicenter of the city’s foreclosure crisis, also saw prices increase – by 5.2% to $390,000. Brooklyn rents are also up – the average rent in March reached $2,971, an 11.5% increase when compared with March 2012.

For more info on NYC real estate: rava@ravarealty.com or call +1 917 214 2509

even more for the Meatpacking

Riccardo Ravasini — Sun, 21 Apr 2013 17:05:29 +0000

More chain stores may be on the way to the Meatpacking District — already home to Patagonia and Lululemon outlets. With an average asking rent of $183 per square foot in the Village and MPD in the first quarter of 2013 — up 11% from $165 at the beginning of 2012 — commercial rental costs could triple when the new Whitney Museum of American Art opens in 2015. According to experts, retail rents could soar to $500 -600 per square foot. As a result, smaller businesses may find themselves priced out, and MPD, besides restaurants and clubs, may find more national retailers coming to the area as landlords demand higher prices.

this month in 1958: Ellis Island

Riccardo Ravasini — Sun, 21 Apr 2013 16:55:44 +0000

The magazine The Real Deal offers a window on the past of New York real estate. In the current issue it reports on the how the federal government rejected 21 bids from private investors who were interested in purchasing Ellis Island, 55 years ago this month.
In 1954, the federal government stopped using the island – which famously served as a gateway to 12 million immigrants for 65 years as they entered into the country. Two years later it was announced that the island would be sold. The government valued the island at $6.3 million, but the market didn’t agree. The highest bid was from Sol Atlas at $201,000. His proposal called for a $55 million redevelopment of the land into what he called “Pleasure Island”, which included a 600-room hotel and cultural center. The sale, as you know, never happened.
In 1965, President Lyndon Johnson added it to the Statue of Liberty National Monument. The island was opened to tourists on a limited basis from 1976 to 1984, and in 1990, the island’s main building was reopened as the Ellis Island Immigration Museum.

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questo mese nel 1958: Ellis Island

Riccardo Ravasini — Sun, 21 Apr 2013 16:47:35 +0000

Il giornale The Real Deal offre una finestra sul passato della storia immobiliare NewYorchese. Questo mese riporta come il governo federale rifiutò 21 offerte da investitori privati per la famosa isoletta 55 anni fa questo mese.

Nel 1954 il governo smise ufficialmente di usare Ellis Island, la quale servì da piattaforma d’entrata in America per 12 milioni di emigranti in un arco di tempo di 65 anni. Due anni dopo si annunciò la volontà del governo di venderla. Lo stesso sperava di racimolare $6,3 milioni dalla vendita ma le offerte arrivarono a livelli molto più bassi. La più alta fu quella dell’imprenditore Sol Atlas a $201,000. La sua proposta era quella di investire $55 milioni nello sviluppo di “Pleasure Island” che avrebbe incluso un albergo con 600 stanze ed un centro culturale. La vendita come sappiamo non avvenne.

Nel 1965 il presidente Johnson aggiunse Ellis Island allo status di Statue of Liberty National Monument. L’isola venne aperta al turismo in maniera parziale dal 1976 al 1984, e nel 1990, il palazzo principale sull’isola venne riaperto come Museo dell’Immigrazione.

Per informazioni su come comprare o affittare casa a NYC: rava@ravarealty.com telefono: +1 917 214 2509