The rental forecast for commercial spaces remains grim as city officials warn Manhattan’s abnormally high vacancy rate should persist well into 2026. As of August 2023, Manhattan is currently at 22.7% office vacancy with little hope of recovery anytime soon.

New York City commercial vacancy rates typically hover at a steady 11%, but as the pandemic continued into the early 2020s, those rates climbed to 15% and beyond. Currently, the national average for 2023’s first quarter is 18.6%, with cities like Denver and Seattle squarely at 20% vacant.

For many, these vacancies hit close to home- shuttered bodegas, struggling independent shops, and the loss of retail storefronts continues to alter the dynamic of neighborhoods throughout the city. Look closer, and empty offices bleed into transport as well; rush hour subways are only half full, a far departure from an overcrowded past.

Lower and midtown Manhattan and downtown Brooklyn have seen the highest turnover and climb in vacancy rate changes to speak of. Despite receiving the most COVID-19 grant and loan money, businesses and offices continue to empty out.

Manhattan’s Troubled Rental Landscape

Spikes in vacancy affect not only landlords and building owners but the city as well. One of New York’s most important revenue sources is property taxes. Nearly 20% of New York City’s total tax revenue comes from commercial property taxes, with 10% attributed straight to office building rentals. In the first quarter of 2023, 4.6 million square feet were leased in the city, while asking rents for offices in NYC were priced at $78.35 per square foot. In April 2023, the price was at an average of $75.13 per square foot, down 50 cents in a YoY comparison, according to a Colliers market report.

Officials estimate that over half of Manhattan’s 450 million square feet of office inventory is practically obsolete.

Manhattan isn’t an easy place to open a business. Especially for family-owned shops, the regulatory hoops, and hurdles of rising rent, taxes, and industry competition challenge even the most genuine intentions. Inflation has taken its toll and led to genuine change across the city landscape. Take a walk down Third Avenue in midtown and you can see for yourself. Empty storefronts and boarded windows have sucked the magic out of New York’s once-energizing presence.

How Much NYC Office Space Is Actually Being Used? How Much Is Under Construction?

A major contributing factor to vacancies is the underperformance of aged commercial spaces. The shift into remote working left many businesses reconsidering their needs and desires for office space. Pandemic downtime made room for major remodels and full or partial fit-outs as companies dreamed of an eventual return to normalcy. The demand for older buildings- many with poor energy performance and outdated design- began to plummet, leaving skyscrapers and roadside shops alike empty around the city.

Officials estimate that over half of Manhattan’s 450 million square feet of office inventory is practically obsolete. Newer buildings with energy-efficient systems are more desirable to renters than older buildings. With 14 million square feet of modern office space under construction, it’s anticipated tenants of older buildings will continue trickling into newer energy-efficient builds long past the vacancy crisis.

Remote Work Is a Major Contributor To the Decline In Commercial Building Values

Recent studies highlight remote work as a major factor in declining building values. Estimates blame the shift into remote work for cutting building values by half. What was once a temporary fix has become the norm. This trend is not unique to New York alone; nationwide, businesses and landlords struggle to find a solution to emptying spaces.

“We now estimate a more persistent work-from-home regime, which has more of an impairment of office values even in the long run,” Arpit Gupta, co-author of the study, “Work From Home and the Office Real Estate Apocalypse.” told The Real Deal.

Post-pandemic rates of office return have reached no higher than 50%, severely lower than anticipated and hoped for by employers and landlords alike. Because of this, official estimates that NYC office stock loss would be 28% have been updated to reflect a 44% loss in value. New York has been on track to recover by the second quarter, with 1 million jobs lost due to the pandemic shutdown, but this is not reflected in local rental markets.

A major decline in worker spending is another backlash stinging local business. Without workers traveling to their offices, who will buy coffee, lunch, and run errands nearby? Less commuting means less commuter-based revenue; workers have spent $12.4 billion less annually compared to pre-2019.

Landlords are defaulting on loan payments. With more than $16 billion in loans due this year, many landlords are in a bind for alternative cash flow as renters continue to dwindle. The Fed’s rising interest rates and tight lending standards jeopardize the ability for older office buildings to refinance, ultimately putting their ownership at stake. Nationally, this is a loss of $506.3 billion in value and has affected the state of local public finances.

Commercial East Village and Lower East Side Hardest Hit From Pandemic

The residential market has also experienced a major shift from the old norm. The residential vacancy rate is currently above 2%, where it has stood for nine consecutive months. The highest vacancies are concentrated within the East Village and Lower East Side with a rate of 3.25% compared to the lowest in the Upper East Side at 1.34%. That said, close to 3,704 new leases were signed in Manhattan by February 2023 compared to 1,000 in Brooklyn.

“In Manhattan, the vacancy rate ticked up from January to February as apartments took longer to find tenants and leasing activity slowed. These are all positive signs for apartment seekers,” says Chief Operating Officer Gary Malin of The Corcoran Group. “However, the median rent has remained unchanged since October 2022, which shows that owners still remain hesitant to reduce pricing.”

The median rent in Manhattan was $4,200 monthly as of February, unchanged since late 2022. Pricing is 12% higher than in February of 2022, making average rent higher than last year. In contrast, the median rent in Brooklyn was $3,500 a month in February 2023.
“Meanwhile, in Brooklyn, rents in February cooled just enough to encourage tenants to take action. In contrast to Manhattan, the number of signed leases in the borough increased monthly, hitting 1,000 for the first time since November.”

Sadly, areas with the highest concentration of low-income residents face higher vacancy rates than elsewhere as businesses and landlords struggle to maintain profit margins that are quickly falling out of reach.

What Is The Status of NYC’s Housing Affordability?

The 2021 Housing and Vacancy Survey, collected every 3 years, summarized the state of the rental landscape throughout the boroughs. The most recent report confronted increases in New York apartment vacancies since 2021. Rent regulation can be drastically affected by these numbers, and rates of 5% and higher constitute an official “housing emergency.”
These surveys help representatives defend low-income residents and their rights. Members of CHIP (Community Housing Improvement Program) have challenged the city’s rent stabilization laws in court. Low-cost apartments appear on the outs as the city lost 96,000 units at $1,500 or less since 2017.

But many are fighting. Vacancies in commercial space have advocates looking at new opportunities for affordable apartments and urban housing. Real estate groups, urbanists, and market experts wonder at the possibility of reinventing Manhattan and Brooklyn. Older buildings, in particular, seem nearly perfect for housing conversion.

“Landlords are being very creative trying to improve their buildings, amenitize their buildings, improve the air quality systems,” said Peter Riguardi, chair and president of real estate services firm JLL’s New York tri-state region. “But at this point, without any unforeseen change, there’s still going to be some empty [office] space when we cycle through this, and some of those buildings are going to be ripe for conversion to residential.”

Still, hurdles persist as Albany failed to pass legislation helping with the conversion of office buildings to residential use, stoking the anxiety of many. In some cases, banks may eventually gain ownership of the building should loans go unpaid. As affordable housing continues to slip away, many wonder at the persistent inflation present in rent prices but absent in wages.

In the last year, the city gained 107,000 units with rents of $2,300 and up, bringing the median asking rent of vacant apartments to $2,750 in 2022, up 46% from 2017. To afford this, a household would need to earn $110,000 or more. The 2021 survey found over 50% of renters paid upwards of 30% of their income toward rent. This severe rent burden signals an affordability crisis that is pinching the lowest earners in the city.

As buildings continue to empty and New York’s population continues to increase, pressure is mounting on the affordable housing market. As of July 2023, there are 8.948 million inhabitants, up 0.37% from last year.

The high vacancy rates are not present for low-income apartments but are found for the most expensive. Deregulation of apartments from pre-2019 rent laws and the focus on high-end apartment buildings are partially to blame. Despite all this, outsiders continue to move to New York City in droves, ensuring demand never falls too low.

The post City Predicts Building Vacancy Struggle To Persist Through 2026 appeared first on CitySignal.

The Sale of the Flatiron Building

Placed for public auction on March 22nd, 2023, the lead-up to the sale of the Flatiron Building was filled with drama and continues to cause controversy. Initially, the sale was pitched as a semi-forced business move by multiple stakeholders of the building.

GFP Real Estate, Newmark, ABS Real Estate Partners, and Sorgente Group, four renowned real estate groups, owned a 75% stake in the business, while a fifth solo partner, Nathan Silverstein, owned 25%. The two parties, as in the collective real estate companies and Silverstein, sued and countersued one another back in 2021 over disagreements over the building.

The real estate groups argued that Silverstein’s actions were keeping the building empty following MacMillian Publishers’ departure in 2019. On the other hand, Silverstein argued that the other party was allegedly attempting to lease out the building’s space for less than the market price.

Silverstein’s ideal solution was to split up the building and rent on a floor-by-floor basis to which the remaining stakeholders were against, favoring renting the entire building to one tenant. While the four real estate stakeholders expressed interest in potentially winning the bid and continuing to own the Flatiron Building, there was a twist of events.

How the Flatiron Sale Fell Apart

In the end, Jacob Garlick would place the winning bid for the building at $190 million. However, Garlick failed to submit the necessary deposit for the space – $19 million. This failure to pay comes after an already granted extension.

With nonexplanation on why Garlick could not make payment, it is reported that Jeff Gural, the owner of Newmark (one of the current owners), is expected to be offered purchasing rights at a slightly discounted rate – $189.5 million. Newsweek, among other sources, assumes that Gural is likely to decline any offer of the purchase at this time, ultimately waiting until the property goes up for auction once more to make a more tame bid.

This is due in large part to the need for improvements inside and out. While the building has undergone numerous rounds of renovation, the building is still said to need additional work totaling over $100 million. That makes any purchaser’s decision an investment in the end. It’s also why Gural was surprised with Garlick’s initial high bid.

Inside the Flatiron Building 

Flatiron Building Construction

Before there was the Flatiron Building, there was just a piece of land located in the heart of NYC – a triangle piece of land, to be specific. When the Fuller Company was looking for a place to call home in New York, they decided to commission a new building, the Fuller Building.

The Fuller company would hire Chicago architect Daniel Burnham to design the building. Maximizing on the triangle-shaped land parcel between 5th Ave, Broadway, 22nd, and 23rd Street, he conceptualized the triangle-shaped building.

The city was hesitant to approve building schematics as initial plans failed to include basic safety measures like fire escapes and metal framed windows. There were also concerns over the building’s ability to face high winds, given its height and shape. 

The Board of Building Commissioners would eventually dismiss some requirements allowing construction to continue, and prompting complaints of favoritism. Construction was completed at an exceptional pace in 1902, averaging a floor a week, adding to concern over safety. 

Flatiron Building Architecture & Design Features

The Flatiron building has faced more than its fair amount of criticism over the years. And while it may be viewed as just quirky nowadays, the building, in all its glory, was once labeled a monstrosity upon completion.

At 22 stories, many feared the structural integrity of the building and argued it would blow down once the wind was strong enough. Some also dubbed what was assumed to be an eventual failure known as Burnham’s Folly.

Beyond the shape of the 285-foot building, there is plenty to admire here. Complete in 1902, the Flatiron building dared to utilize a steel skeleton rather than the New York City norm of masonry up until then.

At its narrowest point, the building is just 6.5 feet wide. Initial construction was done in three horizontal sections that resembled the processes of Greek columns. The base of the building incorporates building materials like limestone, while the upper levels feature glazed terracotta.

The triangle shape of the building affected more than just the visual. It would also bring a unique experience to the city, including an introduction to the 23 skidoo.

The quirky term was coined when it was discovered that the building caused wind patterns that could result in the wind ruffling a girl’s skirt who might be obliviously walking down the street. Because of this, police would shoo away people who lined the streets in anticipation of using the term 23 skidoo in the process.

Flatiron Building Interior

Inside, you’ll also find echoes of the time when the building was crafted, most notably in the bathroom situation. Because the building was originally crafted for a construction company in a time when women were not anticipated to be in the building, there were no women’s bathrooms.

Instead, every bathroom on every floor was reserved for men. Since then, some bathrooms have been converted so that the options alternate from floor to floor. Men can use the restrooms on the odd floors, while women can use even-floor bathrooms. 

History of Tenants of the Flatiron Building

The Fuller Company, a Chicago-based contracting business, initially occupied the 19th story of the building and invited surrounding businesses to help fill out the remaining floors. Some early tenants included the Equitable Life Assurance Society, which occupied the third floor, the Imperial Russian Consulate, which occupied three floors, and the New York State Athletic Commission.

Once the Fuller Company decided to open up other floors of the building to additional tenants, the Flatiron Building’s history grew a little murkier. Sure, there were relatively wholesome tenants with complex ties to NYC history, like the French Restaurant, Taverne Louis, and Macmillan Publishing, but other tenants were questionable, including Murder, Inc, an organized crime collection part of the larger National Crime Syndicate, most notably including a number of mobs in New York.

The Naming of the Flatiron Building

The Flatiron building’s name is said to come from the shape resembling the common household appliance, but it wasn’t always intended to be coined that. The building was originally set to be named after the commissioner – George A. Fuller, and the Chicago-based contracting firm he’d created. Before construction was complete, George A. Fuller would ultimately pass away. While Fuller Company officials were still committed to naming the building after the last name and business moniker, but would not ultimately happen.

Locals and those working on the building had already labeled the building as the Flatiron for a number of reasons, including appearance. After years of trying to establish Fuller as the name of the building, Flatiron Building would win, and the Fuller name would be transferred up to a skyscraper on Madison. 

Flatiron Building Legacy

There are a number of attributes the Flatiron building gets to claim: the strangest building shape, one of New York’s first skyscrapers, the first skyscraper above 14th Street, the first to use steel skeletons – just to name a few. Because of these unique attributes, New York eventually deemed the Flatiron building a protected New York landmark.

Influential in New York’s history, the surrounding area also became known as the Flatiron District, or simply Flatiron. From origins as a ferociously outcast building among New York City’s ever-growing landscape, the Flatiron Building is a New York City jewel. While the sale has grown into something more complicated, many are hoping for a swift conclusion that allows for this building to continue shining.  

The post The Flatiron Building For Sale and the Legacy of a Notable Building appeared first on CitySignal.

The Real Estate Board of New York recently conducted a study revealing that thousands of properties will soon face higher operational costs and large fines due to new climate legislation going into effect as early as 2024.

In 2019, the City Council passed Local Law 97 as part of a larger legislative package focused on reducing greenhouse gas emissions. Sweltering temperatures, frequent rainfall, and rising sea levels have all placed mounting pressure on NYC to act quickly and efficiently on the issue. 

The city’s response was to create a law setting limits on emissions emitted by the city’s largest buildings. The reason being, that NYC’s one million buildings account for about 70% of its total carbon emissions. Much of the energy used to heat, cool, and light these buildings comes from fossil fuels. 

In a statement made to the public, NYC’s chief climate officer, Rohit T. Aggarwala, confidently stated that “Local Law 97 is telling everyone in the real estate business: Climate change is your problem,” and that forming a part of the real estate industry in NYC meant “moving to a carbon-free future.

But, with Mayor Adams allowing select building owners to bypass Local Law 97’s emission caps, the administration’s conviction on the issue is being brought into question. Climate advocates believe that the law is being defanged before it can even begin to sink its teeth, raising serious concerns over its effectiveness. 

On the other side of the aisle, building owners and landlords have expressed their frustrations with Local Law 97, claiming that they don’t make enough money from tenants to cover the transition to eco-friendly energy sources. Some owners have gone so far as to sue the city for Local Law 97 in hope that they can at least buy themselves more time to make their buildings compliant. Although owners and landlords will be directly affected through increased costs of operation, it’s likely that tenants will be affected indirectly through higher rents. 

Overview of Local Law 97

Local Law 97 is a part of the Climate Mobilization Act, passed under Mayor de Blasio. The former mayor had pledged to make the city carbon neutral by 2050 and planned to do so through the New York City Green New Deal. Local Law 97 aims to take a stab at the city’s biggest culprit of greenhouse gas emissions, its buildings. The goal of the law is to reduce greenhouse gas emissions 40% by 2030 and 80% by 2050. 

Come 2024, tens of thousands of New York’s largest buildings would have emissions caps placed on them and face fines if they were to go over said limits. These buildings include several commercial structures, such as bank headquarters and hotels, as well as apartment complexes. 

The law also states that most buildings over 25,000 square feet, whether commercial or residential, are required to meet emission caps and new energy efficiency requirements by 2024. These requirements are supposed to become stricter in 2030.

Would It Just be Cheaper for Landlords to Ignore Local Law 97?

Engineering consulting firm, Level Infrastructure, conducted a study estimating that over 3,700 buildings could face penalties upwards of $200 million a year come 2024. The Real Estate Board of New York estimates that a total of 13,500 buildings could face penalties of more than $900 million by 2030.

The city estimates that 50,000 buildings will be in compliance by the January 2024 deadline. However, there are an estimated 2,700 buildings that are not expected to be compliant by then. This will require building owners to replace windows, tune up HVAC systems, and/or install energy-efficient lighting to avoid hefty fines—an expensive and unplanned endeavor for many NYC landlords.

By 2030, emission caps are set to fall significantly, forcing building owners to not just repair building features but completely replace them in order to make their buildings compliant. For this reason, it’s expected that the second deadline will require owners to pay much more in fines. Crain’s New York reports that in order to avoid the fines, landlords will have to spend about $3 billion a year in carbon cuts, $20 billion over the next decade. 

It’s worth noting that the estimated budget for carbon cuts by Crain’s New York ($20 billion) is much higher than the penalties landlords would be responsible for ($900 million). Depending on their finances and how far they are from achieving compliance—some owners may just ignore the new climate law altogether and instead treat the fines as a business tax. 

Although this may work for landlords, this certainly does nothing to reduce gas emissions emitted by NYC buildings, and will most likely result in Local Law 97 falling short of its ambitious climate goals. 

Pushback from critics, ‘too much, too soon’

Advocates of Local Law 97 believe that the city should use even stricter measures to move NYC buildings towards a more eco-friendly future, while its critics claim that the law is already too harsh. Some say that meeting the emission limits during the timeframe outlined in the law would be near impossible and that millions would have to be paid in fines regardless of their efforts. 

According to the Real Estate Board of New York, even if every building were to reduce its energy consumption by 30%, more than 8000 properties would still face fines up to $300 million each year. 

Vice president of policy at REBNY, Zachary Steinberg, told Bloomberg that the organization hopes “the city will take action over the next 12 months to avoid damage to our local economy and unfair penalties to property owners in 2024,” adding that buildings owners will simply be unable to meet emission limits “even if buildings take meaningful steps to comply and use the tools provided by the law.”

In May of 2022, an owner of a mixed-use property in Manhattan and two garden apartment complexes sued the city, asking for the enforcement to be blocked. They claimed that the law would impose “draconian” fines that would significantly harm their ability to generate profits on their buildings. 

City officials have responded with understanding, promising struggling owners who show “good faith” efforts some wiggle room. The city is considering waiving fees and lowering fines for building owners who demonstrate a willingness to comply, but may need more time to reach denoted emission caps.

Mayor Adams Allows for the Purchase of Renewable Energy Credits Amidst Pushback from Landlords

Building owner advocacy groups caught the attention of Mayor Eric Adams. He recently announced that two-thirds of large office buildings and one-quarter of multi-family buildings would be allowed to bypass Local Law 97’s emission caps through 2035.

This means that about half of the pollution cuts outlined in the law would not even come close to being met, allowing owners to forgo the need to upgrade their properties for an entire decade. Property owners would be allowed to, instead, purchase Renewable Energy Credits, or RECs, and essentially buy themselves out of the responsibility to make their properties energy-efficient. 

The idea isn’t completely revolutionary, seeing as the local government already allows for use of such credits. However, environmental advocates claim that such generous limits would “defang Local Law 97,” and encourage “future shoddy enforcement.” 

Activists believe that although Local Law 97 may be strong on paper, the administration’s extensive leniency with the industry is a grave mistake. They argue that providing real estate companies with the opportunity to purchase RECs will establish a weak precedent for the new law, causing it to fall apart in practice sooner or later. 

The Mayor’s administration has clarified that RECs are not a get-out-of-jail-free card for the real estate industry and that further limits on RECs will be placed in the near future, starting as early as 2024. As the main culprit of energy pollution in the city, it’s unlikely that the city’s intentions are to let building owners off the hook forever. However, letting them off the hook, for now, can still be dangerous to the survival and efficacy of Local Law 97

Not all Building Owners are Affected Equally

The city’s leniency for certain property owners has upset many environmental advocates, who claim that without strict accountability and adequate enforcement of the law, NYC will remain far from achieving its climate action goals. 

But, the truth is not all building owners will be affected equally. 

Large real estate companies often have the resources and capacity to invest in sustainability initiatives. In fact, many of them already have personnel dedicated to such initiatives, which would explain why 50,000 buildings are expected to be in compliance by the first deadline. 

However, for smaller real-estate companies that are often family-owned and operated, meeting the same emission limits will be a serious challenge. Many older buildings still run on oil or gas furnaces, requiring them to completely revamp their energy infrastructure in less than a year. 

Property owners like Debbie Fechter are wondering how they’re going to pay for capital projects they hadn’t planned for, and are even struggling to understand exactly what their new responsibilities will be. She’s been trying to get into contact with an energy audit consulting firm with no success. 

“We don’t really know what our obligations are and what our penalties are going to be,” Fechter told the New York Times. She’s a partner at Digby Management, a family-owned real estate business that owns four buildings in Manhattan subject to Local Law 97.

Who will be most affected? 

REBNY reports that condo, co-op, and rental apartment building owners will be among the most impacted by Local Law 97, should it be enforced as is. This is because of their landlords’ limited ability to fund and coordinate compliance in alignment with the stipulated deadlines. An estimated 60% of non-compliant buildings on January 1st, 2024, will be residential. 

Chances are that in order to either afford the fines or afford repairs, landlords will increase rents wherever possible, causing renters to bear the brunt of a potentially inefficient climate law.

Although some real estate businesses have sought alternative ways of complying with Local Law 97, city officials have claimed that methods such as carbon trading will not be permitted. Carbon trading is an arrangement where one building owner buys credits from a property with lower emissions. 

Purchasing renewable energy credits or certificates from the local government is currently the only way building owners will be able to legally curb responsibility for emissions. RECs would allow property owners to fund projects that will bring clean energy to one of the five boroughs. However, only a limited number of RECs will be available in the near term. 

Reducing gas emissions is a crucial component in the city’s ability to meet its climate change goals. With 1 million of its buildings contributing to more than two thirds of the city’s gas emissions, there’s no way around it—real estate companies have to be engaged. The question is how quickly, and to what extent?

The post Local Law 97: A Controversial Environmental Fix appeared first on CitySignal.

But what exactly is eminent domain? How does it work? And should New Yorkers be worried?

In this article, we’ll explore the roots of property and land seizure by condemnation, its application in the Big Apple, and what it implies for the rights of homeowners.

What Is Eminent Domain?

Eminent domain is a power of government that allows it to take private property for public use, usually through condemnation laws that vary from state to state. Government agencies may exercise this power to condemn any property or land parcel in order to build roads, schools, and other public projects. In some cases, it can be used to acquire land for commercial purposes such as urban redevelopment or to fight economic stagnation in certain areas.

When framed as a public-interest endeavor, eminent domain rings altruistic, especially when blighted areas are suddenly transformed with fresh housing and retail, providing jobs and other economic opportunities for the area’s citizens. But eminent domain is one of the most controversial powers of government, with some opponents viewing it as a medieval undertaking in modern times. Picture it: Government officials (or “lords”) show up at the property, declare that it’s needed for the public good (or maybe the “king” just wants it for a topiary garden), and take the land away from its owners. Never mind the livelihoods that are lost in the process, the countless memories of a place where one once built a life.

Of course, this is a rather dramatic way of looking at eminent domain. But rightly so. It illustrates the profound power and authority the U.S. government can exercise when it comes to real property and land acquisition. One day you may own a charming pink-and-white Victorian in New London, Connecticut, and the next day it could be bulldozed to make room for a Pfizer pharmaceutical plant.

This happened, by the way, in 2005, when the United States Supreme Court ruled in the case of Kelo vs. City of New London that eminent domain was constitutional, even for private commercial use. Pharmaceutical giant Pfizer, alongside New London officials, envisioned a large-scale urban development project that included a hotel, a conference center, and new condominiums. To fulfill their vision, 15 property owners in the area were forced to sell and move out, including Suzette Kelo, who owned the pink-and-white house. However, the defendant’s argument that eminent domain was being abused was rejected by the Supreme Court. The little pink house was eventually relocated, but the case lived on in notoriety.

The little pink house at its new location in New London, CT.

Where Did Eminent Domain Come From?

The Takings Clause of the Fifth Amendment states that “no person shall be … deprived of life, liberty, or property without due process of law, nor shall private property be taken for public use without just compensation.”

By using such language, the framers of the Bill of Rights recognized eminent domain as a necessary government power. It’s okay to seize property, they said, just don’t rip off homeowners. Instead, justly compensate them, which today means paying the fair market value of a home to seize it, whether the homeowner likes it or not.

Although the power of eminent domain was established in the Bill of Rights, the term itself has been around for centuries. It derives from the Latin Eminenes Dominium, meaning “supreme lordship,” which, again, conjures up images of serfs and lords.

But are there moments when eminent domain is essential to create the kind of much-needed change that comes from urban renewal and redevelopment? It’s hard to argue “no” exclusively. An abandoned factory in Detroit, for instance, may be better served by a medical center or a community garden. The same goes for a long-neglected lot in Brooklyn that could be transformed into an affordable housing complex.

These public projects may enhance the lives of community members who, for some reason or another, have been underserved over time. They’re good things, whether or not they rise from the rubble of eminent domain.

It’s the abuse of this practice for private financial gain, however, that’s often too hard to swallow.

Does Eminent Domain Abuse Exist in New York City?

New York City is no stranger to eminent domain abuse.

One example is the Atlantic Yards project in Brooklyn, which was later renamed “Pacific Park,” though YIMBYs might argue that the verdict is still out on this particular development because it hasn’t been fully completed.

The project, which came about in the early aughts and is slated for completion by 2035, involved the eminent domain acquisition of 22 acres in Brooklyn’s Prospect Park neighborhood, specifically the area around Atlantic Avenue and Flatbush Avenue. Developer Forest City Ratner proposed plans for 17 high-rises, with some commercial and residential buildings among them, plus a 19,000-seat, multi-purpose venue that would become the home of the Brooklyn Nets and play host to major music acts the world over.

Part of the overall result is Barclays Center, a mega-arena with undulating steel panels in copper. It rose through eminent domain. This was despite formidable opposition from Brooklynites who had no plans to sell their homes but were forced to anyway to make room for the project.

In 2016, Reason Magazine published an op-ed piece calling Barclays Center an “eminent domain-created failure.” This article was based on a report by journalist Norman Oder, who argued that the venue had lost an estimated $9 million by its third year of operation. If the point of eminent domain is to benefit the public by stimulating the local economy, then this report was damning evidence that it hadn’t.

On the other hand, YIMBYs (or “Yes In My Back Yard”-ers) who advocate for new construction projects might argue that the jury is still out on this issue. Pacific Park is slated for completion in 2035, so it needs to be given time to grow and develop before determining its success.

Other Ways Eminent Domain Has Impacted New York City

The precedent set by the Supreme Court in the Kelo vs. City of New London case carried ripples into the Pacific Park project. But to understand how Forest City Ratner was able to use eminent domain to its advantage, we need to look at an important precedent established closer to home: Yonkers Community Development Agency vs. Morris.

The city of Yonkers sits just a few miles north of New York City’s Bronx borough. It was there, in 1975, that the Appellate Court of the State of New York handed down its decision to allow the Otis Elevator Company — the largest of its kind in the U.S. — to expand its industrial facilities by taking “substandard” land from the City of Yonkers. The defendants argued that eminent domain had been abused because the new land was not for a “public use” or “public benefit,” but rather to expand a private business. The court, however, ruled in favor of the plaintiff.

When the Pacific Park issue arose roughly 30 years after the Yonkers decision, the New York Civil Liberties Union (NYCLU) pointed to the Yonkers case as a precedent in a 2009 column, inferring that eminent domain could be abused to serve private interests as well as the public good. In its decision, the Appellate Court argued that the government’s right to property and/or land seizure was not limited to “slum clearance,” which was a term often used in the past to describe blighted areas that were ripe for eminent domain:

“As the complexities of urban conditions became better understood, it has become clear the areas eligible for such renewal are not limited to ‘slums’ as the term was formerly applied, and that, among other things, economic underdevelopment and stagnation are also threats to the public sufficient to make their removal cognizable as a public purpose.”

The above quote from the Yonkers decision is an eerie foreboding that charming pink-and-white Victorians like Suzanne Kelo’s home in New London, CT, and other properties that are in good condition in non-blighted areas are subject to demolition as much as neglected and dilapidated structures in disreputable parts of town.

This was partly the reason why Ratner’s project prevailed in Goldstein vs. Urban Dev. Corp, a case that challenged eminent domain in New York State. In this 2009 decision, the court applied similar logic to that of the Yonkers case, the result of which has changed Brooklyn’s landscape forever.

Eminent Domain in NYC: Will It Ever Change?

In the Kelo vs. City of New London case, Justice John Paul Stevens wrote in the majority opinion that the Fifth Amendment did not require “‘literal’ public use,” but the “broader and more natural interpretation of public use as ‘public purpose.'” This was an important distinction that was also part of the Yonkers decision and has expanded eminent domain to include private development projects.

But shortly after voicing the majority opinion, Justice Stephens emphasized that states and local governments had the power to create more restrictive eminent domain laws. This prompted 44 states to pass reforms since the Kelo ruling. New York State, however, has yet to do so, leaving eminent domain and its abuse in the hands of legislators. This has caused concern among critics who fear that NYC’s real estate industry will continue to use eminent domain as a means of acquiring land to develop luxury housing and marginalize low-income families who can’t afford to live in the area.

It remains to be seen, then, if New York City’s legal system will take action to better protect citizens from eminent domain abuse. As we move forward, New Yorkers should remain informed and stay attuned to any eminent domain issues that may potentially affect their respective properties, pink-and-white Victorians included.

The post What Is Eminent Domain and How Has It Impacted NYC’s Landscape? appeared first on CitySignal.

It’s no surprise, then, that some people cringe at the mere mention of the number 13, so much so that some buildings around the world have gone as far as to skip the thirteenth floor altogether.

But why is there a superstition against the unlucky number? Where did it come from? And why is it still around today?

To better understand triskaidekaphobia or fear of the number 13, we first need to look into its religious and mythological associations, which date back to ancient times.

Where Did the 13th-Floor Superstition Start?

There are different beliefs as to why the number 13 became so reviled in modern culture. One pervasive theory is that much of life is structured around the number 12, with 12 months in a year, 12 zodiac signs, 12 apostles in the bible, and 12 Gods of Olympus.

Consequently, 13 was seen as an unlucky number that could disrupt nature’s “perfect” cycle, which may also be the reason behind some of the lore surrounding Friday the 13th.

The New Testament records one of the earliest written references to the superstition when Judas Iscariot became the thirteenth guest to arrive at the Last Supper. He would betray Jesus the very next day (on a Friday) by handing him over to the Romans, with an “Et tu, Brute?” moment that culminated in the Garden of Gethsemane. It was there that Judas identified Jesus with a kiss, leading to his crucifixion (hence why the expression “Judas kiss” is sometimes used to denote an act of betrayal).

Dinner parties are ostensibly incubators for the superstition of 13, as evidenced by the tale of Loki in Norse mythology.

According to the legend, 12 gods were invited to a lavish dinner at Valhalla, the exclusive great hall of the god Odin, where honorable warriors went after death. The uninvited and mischievous god Loki crashed the party, bringing the guest count to 13. Any hardcore Marvel fan knows that an impromptu appearance by Loki spells disaster, and that’s exactly what happened: Loki tricked Hoder, the blind God of Darkness, into killing Baldur, the god of light and peace, by using an arrow tipped with mistletoe, which was the only substance that could harm Baldur.

The moral of the story was less about “not giving a blind man a bow and arrow,” but more so to remember that “bad things come in thirteen.”

Both accounts — the Last Supper and the dinner at Valhalla — appear in Donald E. Dossey’s “Holiday Folklore, Phobias & Fun,” where the author explains why the number 13 is considered unlucky, a superstition that has also seeped into the world of real estate.

Why Don’t Buildings Have A 13th Floor?

In a 2018 tweet, the Otis Elevator Company, which is the world’s largest manufacturer of vertical transportation systems (think: elevators, escalators, and moving walkways), revealed the reasoning behind why some buildings don’t have a 13th floor.

The tweet read: “#DYK that many U.S. hotel and office buildings skip floor 13 for commercial and residential use? Due to the superstition associated with the number 13, the unlucky number is often omitted from elevator panels and stairwells.”

Indeed, by avoiding potentially jinxed floors, superstitious developers and property owners hope to ward off any bad luck that may befall the building during its construction and avoid any negative consumer sentiment toward the ill-fated number once the project is complete.

This is why many buildings in NYC and other cities worldwide commonly omit the thirteenth floor, labeling it as 14, 12A, 12B, or some other designation instead.

Why Don’t Hotels Have a 13th Floor?

In the same vein as office and commercial buildings, hotels often skip the thirteenth floor to dodge any bad luck that may be associated with the number.

The Essex House in New York City, for example, refers to its 13th floor as the “14th” on elevator buttons. Another landmark hotel in NYC, the Sherry-Netherland, also skips the 13th floor on its elevators and room numbers.

In 2007, USA Today and Princeton-based news outlet Gallop conducted a poll that further confirmed why some hotels are wary of the number 13. “Triskaidekaphobia has significant economic implications,” the report read, citing that 13% of Americans were “bothered” after being assigned a hotel room on the 13th floor. (Let’s pause here briefly to note the irony in the poll numbers themselves; perhaps it’s these 13 percenters who have kept the fear of 13 alive!)

The report goes on to explain that “developers of hotels and office buildings have to make the decision whether to include a 13th floor to avoid [occupants’] superstitious desire[s] to avoid working or staying on such a floor. Many hotels in Las Vegas, where luck and superstition are important psychological factors, do not have 13th floors, and other large hotel chains routinely skip from the 12th to the 14th floor, although, technically, the 14th floor is really the 13th floor of that building.”

So, why don’t hotels have a 13th floor? The answer appears to be a combination of superstition, psychology, and market capitalism, a system known for its creative solutions to profit-hindering problems.

Other Places Where the Number 13 is Unwelcome

Interestingly, the superstition of 13 is not just limited to hotels and office buildings. It also crops up in areas such as air travel, where some airports have taken it upon themselves to skip gate 13, and healthcare, with some hospitals cutting room 13 and going straight to 14. Furthermore, many airlines, such as Iberia, Air France, and Ryanair, don’t have a row 13 for the same reason.

In Florence, Italy, house numbers between 12 and 14 are usually addressed as “12 1/2.” In France, there was once a tradition where socialites known as quatorziens (“fourteeners”) would make themselves available to be the 14th guest at a dinner party. This was believed to keep the party from being unlucky and definitely to prevent a disaster of Loki proportions.

The practice of skipping 13 is far from universal, however, with some countries not adhering too much to superstition. For example, in China, the number four is considered unlucky, as the Mandarin word for “death” — pronounced sǐ — is a homonym for “four.” That’s not to say that all buildings in China have a 13th floor. In some cases, both the fourth and thirteenth floors are omitted entirely.

In Conclusion

The superstition of 13 is still alive and well in today’s culture, with a long history dating back centuries. Although some people may overlook its significance, others are prepared to go to great lengths to avoid the number altogether. Indeed, the practice of not having a 13th floor in hotels and other establishments is a powerful example of the phenomenon’s ability to shape the decisions we make in our lives.

So, whether it’s a real estate development or an airport gate, the number 13 is often met with a shrug, and a “no thank you.” But it may also elicit a chuckle from realists who can’t be bothered to be bothered by what’s often a silly superstition.

Still, perhaps it’s best to avoid being guest number 13 at a dinner party. You know. Just in case.

The post Why Do Some Buildings Skip the 13th Floor? appeared first on CitySignal.

It’s buildings like these that make NYC so exhilarating. Each year, new construction projects go up in the city, creating landmarks and changes to the skyline. They command our attention, often through not-so-subtle means, and have the strange power to make us feel anew about the city we thought we knew so well.

6 Buildings Changing the NYC Skyline

In 2022, several buildings debuted in NYC, adding to the already awe-inspiring skyline. Some were lucky enough to bypass NYC’s rigorous development process, while others had to battle it out to stake their claim in the city.

Below are six of New York City’s most impactful structures completed in 2022, each with its unique effect on the city’s skyline and community as a whole.

1) “TRIO,” 27-19 Thomson Avenue (Long Island City)

In 2001, the Department of City Planning rezoned 37 blocks at Long Island City’s core. This undertaking provided Queens with an incredible opportunity for revitalization and growth. It saw the repurposing of LIC’s old warehouses, many of which have been converted into luxury residences. But it also called for new construction to take place, an initiative that would transform the Queens skyline from an industrial no man’s land to an urban oasis of gleaming skyscrapers.

TRIO, which stands at 10 stories and sits on Thomson Avenue, is a 2022 addition that’s no less impressive when compared to its much taller neighbors, including the 67-story Skyline Tower. Trio’s trapezoidal glass façade, with a two-tone scheme of charcoal and off-white, befits the ever-evolving LIC skyline. Designed by Andres Escobar, who’s known for blending modern elements with classic forms, the building offers 30 residences, each one boasting condo-level finishes like quartz countertops and porcelain tiles, plus radiant heated floors and Toto Neorest Automatic toilets to top it off.

Of the 30 residences, 11 joined the affordable housing lottery program spearheaded by NYC Housing Connect. To be eligible, applicants must earn around 130% of the area median income, a range varying from $88,835 to an upper limit of $187,330. These income thresholds have reignited yet another round of affordable housing debates, with some online users taking to NewYorkYimby.com to express their discontent over the city’s use of the term “affordable.”

2) “96+Broadway,” 250 West 96th Street (Upper West Side)

Manhattan’s Upper West Side is more than its timeless brownstones, tree-lined streets, and stroller culture. Thanks to buildings like 96+Broadway, the neighborhood is now a destination for those seeking a contemporary urban experience. Designed by Danish architect Thomas Juul-Hansen, this 23-story condominium topped out in 2022, rising from the remains of a Gristedes supermarket (pronounced gri-STEE-deez for the uninitiated) that had been a fixture in the area for decades.

Standing at the intersection of 96th Street and Broadway, where the Upper West Side meets Morningside Heights, 96+Broadway’s façade is a modern take on the classic pre-war buildings that have long characterized the area. The structure is clad in limestone and steel, with country-style windows that give the building an almost industrial edge while still paying tribute to its historic surroundings. Bronze-finished balusters, white oak flooring, and several Juliet balconies add to the building’s classic aesthetic.

Although 96+Broadway is under the city’s voluntary inclusionary housing program, which means it would receive an extra 3.5 square feet of allotted space for every 1 square foot of affordable housing included in the final product, only one of its 131 units has been officially designated as “affordable.” The other 130 are on the market for upwards of $1 million.

3) 45 Park Place (Tribeca)

One of two buildings on this list that faced foreclosure before being completed in 2022 (the other being 291 Livingston Street), 45 Park Place, is the work of SOMA architects and ultra-lux interior designer Piero Lissoni. Located steps away from the Chambers Street subway station, this 42-story condominium stands out with its sculptural glass façade, which evokes a sense of movement and flow.

The building offers 50 condominiums, ranging from one-, two-, and three-bedroom lofts to three- and four-bedroom homes that take up an entire floor. Residents enjoy a suite of amenities, including a state-of-the-art fitness center with a yoga studio, a children’s playroom, and a 50-foot indoor pool spread across deep green marble floors.

The property was recently featured in the Tribeca Citizen’s “Unfinished Business” piece, where it joined the likes of 65 Franklin, 65 West Broadway, and 317 Broadway as buildings with a troubled history and/or stalled construction. The article took shape after the author had received several inquiries from Tribeca locals as to what was happening with the partially finished 45 Park Place and the other “holes in the ground” throughout the neighborhood. 45 Park Place has yet to be completed as of late 2022, but its notable presence stand stall offering yet another luxury address to Tribeca’s high-end real estate landscape. Some of the lots have also yet to show signs of progress.

4) 291 Livingston Street (Downtown Brooklyn)

Nestled minutes away from the hustle and bustle of Barclays Center is 291 Livingston Street, a 22-story hotel tower that has been completed — for the most part — in 2022. The project fell into financial difficulties shortly after plans were filed in 2018: Ownership defaulted on a $29.7 million mortgage, according to New Jersey-based news outlet Local Today, with real estate lender Acres Capital seeking to terminate its equity interests while the property stood at 80% completion.

Despite the hotel’s uncertain future, one thing’s for sure: 291 Livingston Street has become one of the most eye-catching buildings in the Downtown Brooklyn skyline. Designed by Gene Kaufman Architect, the 100-key hotel boasts a zebra-striped façade on one side and sleek concrete slabs on the other. The structure offers a unique sense of verticality, with its slender frame towering 189 feet in the sky.

From its inception, the hotel was set to feature a ground-level beer garden and a metal-framed glass canopy welcoming guests into the lobby. These features would have solidified the project’s stark transformation from a Wendy’s fast food joint to a boutique hotel in the heart of Brooklyn. Whether or not they’ll be included in its grand opening remains to be seen.

5) “Front & York,” 85 Jay Street (DUMBO)

You know those “Fast Pass” transponders you get at the amusement park to skip the long lines and go straight to the attraction? 85 Jay Street is Brooklyn real estate’s version of that. Because no rezoning or special permissions were required for its construction, the project has circumvented public negotiations that often slow down large-scale developments in the city. These include affordable housing availability, pledges for union labor, limited parking arrangements, and other community-driven initiatives.

With no hiccups to deter its progress, this mixed-used complex known as Front & York is poised to leave an indelible mark on DUMBO’s landscape. Spanning a full block from Front Street to York Street and Jay Street to Bridge Street, the site consists of 320 rental apartments and 408 condo units, making up the largest residential building in the neighborhood.

Furthermore, residents are treated to the largest indoor pool in DUMBO, a full-size indoor basketball court, a separate floor dedicated to fitness and wellness activities, and a private park. But those who end up living here may need to get over the fact that it was built on 72,000 cubic yards of formerly contaminated soil. The city’s Department of Environment Conservation remediated the soil through its Brownfield Cleanup Program, however, making it suitable for occupancy in 2022.

6) “The Brooklyn Tower,” 9 Dekalb Avenue (Downtown Brooklyn)

In an early 2022 post, we reported on the nearly completed 9 Dekalb Avenue, which made its way to our list of five extraordinary skyscrapers reshaping NYC’s skyline. The building made history on October 28, 2021, when it topped out at 1,073 feet, becoming the tallest building in Brooklyn and the tenth tallest in the city.

The Brooklyn Tower, as it’s also known, is like something out of a sci-fi movie. Its deconstructed octagon look shines with Neo Art Deco elements of stone, bronze, and steel. Along the roofline, protruding beams give the effect of a gold crown atop the structure, which can be seen from many miles away. It’s no wonder why the building’s design firm, SHoP Architects, won the American Prize for Architecture in 2022: the project was (and still is) an absolute marvel.

9 Dekalb houses 150 condo residences above the 53rd floor and 425 apartment rentals below. It also contains the Dime Savings Bank of New York, a landmark structure founded in 1859 and celebrated for its exquisite Beaux-Arts architecture. Amenities include a “Sky Lounge” on the 66th floor, an outdoor pool deck, a library, a movie theater, and several fitness studios.

Upcoming in 2023 and Beyond

It’s time to cast our gaze on the future, as 2023 and beyond will bring with it an array of significant construction projects that are set to take off in New York City.

Take a look at some of the buildings expected for development, completion, or occupancy in 2023 and beyond:

• Flushing Commons Phase II, 136-35 39th Avenue, Flushing, Queens
• Mandarin Oriental Residences Fifth Avenue, 685 Fifth Avenue, Midtown, Manhattan
• The Cortland, 555 West 22nd Street, Chelsea, Manhattan
• ONE11 Residences at Thompson Central Park, 111 West 56th Street, Midtown, Manhattan
• 45-03 23rd Street, Long Island City, Queens
• Sutton Tower, 430 East 58th Street, Sutton Place, Manhattan
• 460 Tenth Avenue, Hudson Yards, Manhattan
• 300 West 30th Street, Penn District, Manhattan
• 45 Broad Street, Financial District, Manhattan
• The Matteo, 323 East 79th Street, Yorkville, Manhattan
• 450 Washington Street, Tribeca, Manhattan

Final Thoughts

NYC’s ever-changing skyline is a testament to its capabilities, an expression of its boldness and drive. From commercial properties to residential structures, these buildings represent a snapshot of hope, resilience, and progress. The ones on this list are but a few of NYC’s most notable buildings completed in 2022, setting the stage for what potentially awaits us in 2023 and beyond.

So look up and listen. NYC’s buildings are telling stories. And we can’t wait to see what they will say next.

The post The 6 Most Impactful NYC Structures of 2022 appeared first on CitySignal.

The Durst Organization’s Portfolio

The Durst Organization was founded in 1927 by Jewish immigrant Joseph Durst, a man whose humble beginnings led to quite extravagant ends. First a tailor, then a partner at a dress manufacturer in New York City, Durst began his property acquisition endeavors in 1915 using the profits from his manufacturing business. Most notable of his early purchases is the original Congregation Emanu-El, which was demolished in 1927 to make room for commercial developments. 

Over the course of nearly 100 years, Durst and his family built what is considered one of the most prominent real estate companies in New York City. Now run by Durst’s grandchildren, the organization holds claim to some of the city’s most impressive and in-demand properties. The family-run business prides itself on creating and managing “sustainable residential and commercial properties in which people live, work, and thrive.” 

Beyond its buildings, the Durst Organization co-founded The Model Organic Farm Foundation, the non-profit organization responsible for operating McEnroe Organic Farm – one of the largest organic farms in New York State. Seymour Durst is also credited with creating the National Debt Clock, “conceived to call attention to the soaring debt and each family’s share of it.” Today, the clock is located at Anita’s Way, in the through block between two Durst properties – One Bryant Park and 151 W. 42nd Street. 

The Durst Organization has properties in Manhattan, Queens, Philadelphia, and Northern Dutchess County. Though each building is unique, all boast sustainable designs, extreme attention to detail, and unique amenities for residents. CitySignal has ranked the Coolest 7 Durst Properties in New York City, based on where we’d most like to work and/or live. 

One World Trade 

Built on the northwest corner of the original World Trade Center site, One World Trade (formerly known as the Freedom Tower), is undoubtedly one of not only the Durst Organization’s coolest buildings, but also one of the country’s most significant structures. It is the tallest building in both the United States and the Western Hemisphere, and the seventh-tallest structure in the world. Built in 2012, it took the title of tallest building in New York City from the Empire State Building, which held it from 1931 – 1972, and then again from 2001 – 2012. At 1,776 feet tall, its height is a deliberate nod to the year the Declaration of Independence was signed. 

The building’s anchor tenant is Condé Nast. The publishing organization relocated their headquarters to One World Trade in 2014, moving from the Durst Orginzation’s One Five One building, where Condé Nast had been a tenant since 1999. One World Trade is also the home of Reddit and Bon Appetit.  

One of the most environmentally sustainable skyscrapers in the world, One World Trade has received a LEED Gold Certification and uses sustainable architecture features to reduce energy costs and minimize the building’s environmental impact. 

The building also boasts one of the best views in Manhattan, with the One World Observatory located on floors 100 – 102. At 1,268 feet, the three-story observation deck offers the highest vantage point in New York City. It is accessible through a side entrance or the Westfield shopping center, located on the lower floors of the building. 

One World Trade is a building of major importance for the country… and it’s also a really cool place to work, shop, and get a birds-eye-view of New York City. 

One Bryant Park 

Located at 1111 Avenue of the Americas, One Bryant Park – otherwise known as the Bank of America Tower – is another one of the Durst Organization’s most impressive properties. At 1,200 feet, it is the eighth-tallest building in New York City and the tenth-tallest building in the United States. Completed in 2009, the $1 billion project is a New York City landmark and an unmissable marker of Midtown. 

One of the building’s most exciting features is the Stephen Sondheim Theatre, a historic Broadway theatre with an impressive neo-Georgian facade. The theatre is currently home to the new Broadway musical & Juliet, which opened in November 2022. 

Broadway isn’t the only sight worth seeing at One Bryant Park. The building is notable for its glass “curtain wall” facade. Designed by architects Cook + Fox, the facade allows for lowered energy costs and usage and meets LEED Platinum sustainability standards. A unique and eye-catching design, the curtain wall allows the building to stand out without dwarfing its next-door neighbor, Bryant Park. 

While one writer in the Village Voice described the glass facade as “alien,” another described the building as a “psychological and economic lift to a city that was still reeling from the destruction of the World Trade Center.” Either way, it serves as a haven for tourists, employees, and commuters alike. 

VIA 57 West 

It’s hard to miss VIA 57 West, which resembles a distorted pyramid and boasts a steeply sloped facade angled towards the northeast. Located at 625 W 57th, the award-winning residential apartment complex is an unmissable marvel in the Durst collection of properties. 

The first New York project of Danish architect Bjarke Ingels, the building’s sloped facade is said to resemble a sailboat crossing the Hudson River. According to The New York Times, the building was named VIA because the southbound West Side Highway “slopes down as drivers enter the city, right at the spot where the building is situated.” It’s seen as an entrance into Manhattan “via 57th.” Officially named VIA, the building has garnered quite a few alternative monikers: Pyramid, West 57th, W57, West57, and Tetrahedron. 

Beyond the design, the building is an incredible place to call home. Extra amenities include a swimming pool, a library, basketball court, movie theater, and a poker room. Located at 11th and 57th, the building may seem a bit far from transit hubs, but that issue is solved by the exclusive complimentary resident shuttle. There is also on-site parking for those with cars. 

VIA 57 West is an architectural marvel and an apartment building worth drooling over. 

One Five One 

The Durst Organization’s One Five One building may be better known as 4 Times Square, the Nasdaq MarketSite, the H&M Building, or maybe simply as “the Condé Nast building.” Opened in 1999, the 52-story skyscraper is a staple of Times Square and one of the earliest examples of green design for a skyscraper. 

Though the corporation has since moved to One World Trade, publisher Condé Nast was one of the building’s flagship tenants when it opened in 1999. Notable about the Condé Nast tenancy is the ‘Condé Nast cafeteria,’ which was designed by architect Frank Gehry. Gehry’s first project as an architect in New York City, the cafeteria was as fabulous as the employees eating in it. It cost an estimated $30 – $35 million to build. After Condé left One Five One in 2014, it sat empty for five years but was reopened as a tenant-only food hall in 2018. 

Some other significant early tenants of the One Five One building were law firm Skadden Arps and Disney’s ESPN Zone restaurant. Skadden Arps left the building for Manhattan West in 2020, and the ESPN Zone closed as a result of the 2008 financial crisis. 

One tenant showing no signs of relocating: Nasdaq’s MarketSite, which has laid claim to the $37 million LED sign outside of One Five One since 1999, also leases space inside the building. MarketSite expanded their lease to 180,000 square feet in May 2019. 

Besides MarketSite, One Five One’s most visible tenant is currently retailer H&M, who signed a commercial lease with the building in 2012… provided they could put panels with the ‘H&M’ logo atop the skyscraper. The panels certainly make the One Five One building hard to miss!    

SVEN 

One of the Durst Organization’s most exciting properties is the Sven apartment complex, located at 29-59 Northern Boulevard in Long Island City, Queens. Designed by Handel Architects, the 71-story mixed-use tower is a development worth nothing. 

With a gleaming, curved facade, the building is an eye-catching addition to Long Island City. While the mirrored tower represents the future, the building’s foundation is an homage to the past. The Sven building is located at the historic site of the former Bank of Manhattan Building. Though no longer operating as a bank, The Queens Clock Tower structure has been seamlessly incorporated into the base of the building. Like all Durst properties, Sven is sustainably built and run, focusing on environmentally responsible use of the elements water, earth, energy, and air. 

The building offers ample amenities, including a fitness center, an outdoor pool, poker lounge, library, and screening room. There are usually a handful of available apartments ranging from studio to three bedrooms and boast features, including (but not limited to) up-to-date appliances and floor-to-ceiling windows. 

A quick subway from Manhattan, Sven offers residents a different view of the New York CIty skyline… from across the East River, 71 stories high.

Historic Front Street

What’s interesting about Historic Front Street is that it isn’t just one property – it’s an entire city block. According to the website, “Historic Front Street consists of 11 restored 18th-century buildings and three modern buildings on Front Street between Beekman Street and Peck Slip.” In line with Durst Organization values, it is the largest historic preservation project in New York to incorporate sustainability into all aspects of its buildings.

For those looking to live at Historic Front Street, the Finacial District development has 95 rarely available rental apartments, ranging from studios to penthouses. There are also commercial offerings, with 13 ground-floor retail spaces for rent. Though interiors are ready for redesign, all storefronts must comply with historic landmark requirements to “maintain the cohesive neighborhood look and feel.” The facades are old, but the shops are new: some residents include Jack’s Coffee, Van Leeuwen Artisan Ice Cream, and Paris Cafe.  

To visit Manhattan’s Seaport neighborhood is to travel back in time to the 1800s, as so much of the area has been preserved. It’s a great place to work, shop, and live! 

EŌS Nomad

Though not a commercial office building, the Durst Organization’s EŌS Nomad apartment complex makes for a great place to work from home. Located at 100 W 31st Street, the 47-story glass tower offers stunning studio, one-bedroom, and two-bedroom apartments. 

The units are a renter’s dream, boasting everything from basic features like a washer/dryer to the more exciting bonus of floor-to-ceiling glass windows. Where EOS takes its crown, however, is in its amenities. The building offers an indoor pool, a golf simulator, a roof deck, fitness center, half-court basketball court, and a 24-hour concierge in the lobby. Not to mention the impressive location, right in the heart of the city. 

Sustainably and seamlessly designed, EŌS Nomad is not to be slept on… unless you’re renting an apartment in the building! You can find availabilities here. 

The Durst Difference

Though these are the seven ‘coolest’ properties, they’re not all of the residences and commercial buildings in the Durst portfolio. All of Durst Organization’s buildings are curated with the care and conscience that can only come from a family-run company. 

The post Coolest 7 Durst Properties in NYC  appeared first on CitySignal.

New York City FC currently plays at Yankee Stadium, which isn’t optimally configured to host soccer matches. Overall, this is a mutually beneficial agreement for the city and the team, as a couple of main components of this stadium deal and development will help the community. 

The Largest All-affordable Development in Decades 

Once the 2,500 affordable apartments by the new stadium are complete, it will be the largest all-affordable development in New York City since the 1970s. Eric Adams, who threw his support behind the stadium deal, praised the future development. 

“This is exactly the kind of historic work we must do to tackle the housing shortage at the root of our affordable housing crisis,” Mayor Adams said in a press conference. 

The Stadium Will be Privately Funded

Ultimately, the taxpayers of New York are winners in this deal, as the city and state didn’t allocate any money to fund the new stadium other than property tax breaks for the stadium and city-funded infrastructure upgrades. Other than that, New York City F.C. will fully pay for the construction of the $780 million stadium. New York City F.C. will also pay the city up to $4 million per year in rent to lease the city-owned land where the team will build the future stadium. 

News of New York City’s future privately-funded stadium comes after Governor Kathy Hochul approved a deal that would use $850 million in taxpayer money to help the Buffalo Bills fund a new $1.4 billion stadium in the Buffalo suburbs. The $850 million in taxpayer money represents the largest ever public subsidy for an NFL stadium. 

The agreement is highly controversial since Bills owner Terry Pegula has a net worth of roughly $6.7 Billion. However, proponents of the deal argue that the Bills would have left Western New York for another market if they didn’t receive public funding for their new stadium. 

The Latest Addition to an Entertainment Hub

Stadiums have a reputation of spurring development in urban neighborhoods with access to public transit. For example, when the NY Red Bulls built their soccer stadium in Harrison, NJ, the city experienced an uptick in new development. The city, which sits adjacent to Newark, welcomed the Red Bulls to the area, as the stadium was the anchor for a $3.5 billion redevelopment plan. 

Since 2010, the city has transformed the formerly industrial neighborhood around Red Bull arena into a growing and vibrant neighborhood. Harrison Mayor James Fife explained the stadium’s impact when speaking to a local news outlet in 2019. 

“Oh I would say yes, we’re in transition. We have the new part and the old part, and we’re trying to get them together,” he said. “We have about 7,000 units of housing, and there’s like a half million square feet of retail, restaurants, things like that are going to be going up in the near future.”

With the addition of New York City F.C.’s new stadium, the city hopes to transform the Willets Point section of Queens into a vibrant neighborhood and a sports and entertainment hub. In addition to the soccer stadium, the area already has Citi Field and the U.S.T.A. Billie Jean King National Tennis Center, host of the U.S. Open. There are also rumors that Mets Owner Steven Cohen could open up a new casino near Citi Field.

The post New York City FC to Build New Stadium Next to Citi Field in Queens  appeared first on CitySignal.

What Questions Does the ZoLa Map Answer?

The name speaks for itself in this situation. The Zoning and Land Use Interactive Map gives you information about your zoning district and what landowners are allowed to do in said district. Most people use this map to understand regulations for their zoning district, research new zoning and city planning initiatives, and find their zoning district. However, that’s just the tip of the iceberg regarding the info this map can provide. 

When it comes to full districts, you can find out what kind of district you live in, be it commercial, residential, manufacturing, or special purpose district. The map will have info on building regulations for your area, such as how high they can be, the requirements for quality buildings, and the requirements for the construction of new buildings. You can also find current and pending amendments for the area, as well as whether or not your district is legally obligated to provide flood insurance for those who want it. 

If you search for your specific address, you can learn even more info. You can learn who owns your building, whether or not you live in a historic district, and even find a link to the building’s public records. They can even show you some fun things like landmarks, cafes, and FRESH zones (locations with special tax codes for grocery stores) in your area. The ZoLa Map will tell you everything you want to know and more about your zoning district.

How to Use the ZoLa Map

The ZoLa map has recently gone through an update to make navigation simple. Once you head to the portal on the government website, type in the building number, street, and borough you’re searching for. You’ll find yourself on the map, and you can search by block or lot numbers to find your district. When you’ve found the address or district you’re looking for, two menus will appear on either side of the map, each with different links and information.

Some of the links that can be found in the menus include ACRIS (The public records for buildings), transit zones, and coastal zones. The website is intuitive since it’s been updated earlier this year, and anyone can use it for any purpose. The ZoLa map might seem complex at first glance but is very easy to use once you get the hang of it.

Why Would You Use ZoLa?

The ZoLa map can, and should, be used by everyone. Landowners, business owners, and developers will benefit the most from it for several reasons. Developers, especially, will want to pay attention to this map. District zoning policies are extremely rigid, and any new development project must follow the district’s rules. Landowners should check the map frequently to keep up with current zoning laws and pending regulations for the neighborhood. This way, owners can be sure that additions or renovations to their buildings are completely legal. Business owners will want to check the map to see changes in their zoning areas’ tax status.

Although the map is most helpful for professionals, it can also be helpful for individual use. Residents should check the map regularly, especially if there’s a new addition to your building. They should also keep track of any zoning changes regarding sanitation and tax codes, which the map also provides info on. That said, ZoLa also provides an exciting look into your zoning district. You can find hidden gems on the map, see if you live in a historical area, and find out cool information about your zoning district. Pair that with some stats and trends on rents in your area to have a better understanding of the real estate market. Cartography enthusiasts, especially, will love this portal.

Additional Resources 

Many people might have specific questions that the ZoLa map cannot answer. For more information, people should visit the ZoLa help desk, a resource designed to answer any questions you might have about the platform. They address common questions like what people in multiple zoning districts should do if they want to know how their area works. 

They can also answer questions like, “when was my area last rezoned,” “How can zoning policies in my area change,” and “can I run a business out of my home?” If this page doesn’t answer your question, you can contact the Zoning Help Desk or fill out the Zoning Inquiry Form. The form is probably the fastest way to get your question answered, as a response should be sent to you in a matter of days. 

The government is also aware that the map isn’t a perfect tool. Though it’s much improved, people can still make suggestions via Github and Twitter @NYCPlanningLabs or with #ReimagineZoLa. You can also email them at zolagis@planning.nyc.gov. Your suggestions could very well make it easier for the public to access public information, which is a net positive for the entire city.

ZoLa is an excellent yet underused resource that every New Yorker should know about. It provides essential public info that residents and developers can use to make their lives easier and follow the complicated zoning rules of their area. The map is incredibly easy to use, and the amount of information is mind-boggling. One could spend an entire day learning about their zone alone. This resource is important, and more people should be aware of it. So head to the portal and learn about your district today. A well-informed resident is a powerful one. 

The post How to Use ZoLa: NYC’s Zoning and Land Use Interactive Map appeared first on CitySignal.

The coved ceiling had panels with scrolls and ornate floral molding. Other design features include modillions, rosettes, fruit and flower ornate moldings, and artistic flair and influence that could be seen in every detail. Spanning 14′ feet across, an ivory and bronze chandelier hung above theater patrons like a priceless crowning jewel.

But on opening night in March 2013, the vaudeville theater house was a flop. Headlines from the Variety screamed, “Palace $2 Vaudeville A Joke: Double-Crossing Boomerang” as people thought the $2 ticket price for the show was far too expensive. “The theatre itself, living up to advance publicity, was spacious, handsome, and lavishly decorated in crimson and gold. But nothing happened that afternoon to suggest the birth of a great theatrical tradition,” wrote screenwriter Marian Spitzer of opening night.

However, by December 2014, Variety had completely changed its tune, saying, “the Palace is the greatest vaudeville theater in America, if not the world.” After about 6 weeks from opening, a visit from French actress Sandra Bernhardt finally turned the theater around, and from then on – for the next few decades, anyway – it remained extremely popular. All the big vaudeville acts had a run at the Palace, and if you got to perform there, you could say you’d made it. Actors regarded it with awe and wonder the first time there; it was special.

The Palace Theater Over Time

Over time, however, vaudeville acts lost their charm as the first motion pictures and television shows came out, and theater attendance waned. By 1932, vaudeville acts alone were no longer popular enough to keep people coming, so they started showing movies there, too, alternating between live acts and movies for a time. Then from 1933 on, they began showing films exclusively under RKO Pictures. For example, Citizen Kane in 1941 had its world premiere debut there. It became known as the RKO Palace.

By 1965, the theater was no longer profitable as a movie theater, and RKO was ready to sell. They sold the Palace to the Nederlander Organization for between $1.4 and $1.6 million for conversion to a Broadway theater. At that time, the Nederlanders spent $500,000 for renovations of the largest, and only theater actually on Broadway that refurbished and legitimized the location.

And finally, at the beginning of 1966, the Palace re-opened with the musical Sweet Charity. The Nederlanders wanted the theater always open, so live concert performances would be held when there wasn’t a production running. This went on successfully for the next two decades.

But in the mid-80s, developer Larry Silverstein wanted to build a hotel on the site, but it came under review for landmark status in 1987. The interior of the theater was landmarked, while the exterior was not. Regardless, this meant Silverstein would have to build around the theater, but this didn’t stop the progression. The theater closed in late 1987 after the last performance of La Cage aux Folles. Silverstein built a 43-story Embassy Suites hotel all around the theater, while the theater itself received a $1.5 million renovation out of the $150 million hotel project that was completed in 1990. By 1991,  the Broadway venue opened once again.

The Transformation of the Palace Theater

In 2015, Nederlander and Maefield Development announced new renovation plans for the theater area in conjunction with the new TSX Broadway development. This time, there would be a new lobby and entrance on 47th Street, new dressing rooms added, and patron amenities, but the theater itself would need to be lifted 30 feet up to accommodate ground floor retail space, as well. There were concerns over this, of course, but the Landmarks Preservation Commission approved plans the same year, and the NYC Council approved plans finally in mid-2018.

The theater closed at the end of 2018 after the last production of SpongeBob SquarePants: The Musical. At the end of 2019, demolition of all but the theater commenced, which experienced a $50 million renovation that included the restoration of original plasterwork and the original chandelier, adding sound insulation, new restrooms, and a new box office.

The Lift

The first week of January 2022, the news reported that work had begun on the unprecedented feat of actually lifting the iconic landmark to a new resting spot – a full 30 feet in the air, to become part of the $2.5 billion, 47-story TSX Tower. The entire development will contain hotel rooms, restaurants, and an experiential space. The idea of how to lift the landmark structure took 5 long years of planning. Similar technology has been used before, such as back in 1998 when the Empire Theatre on West 42nd Street was moved several feet down the block, but nothing quite like this has ever been done before. Most of the time, when moving a building, it’s to move it to another location. This project took a little more innovation.

L & L Holding Company is the main developer responsible for the project, and executive vice-president, Robert Israel, spoke to ABC7NY to explain the process. He explained the Palace Theatre first had to be detached from its foundation, and then the bottom was supported by a layer of reinforcing 5 feet of concrete. Ultimately, the structure weighed 14 million pounds or 7,000 tons and took a total of 34 strategically placed custom-made steel posts, hydraulically controlled by a machine described as a hybrid between a structural steel shoring post and a hydraulic jack.

According to YIMBY, the actual lifting took a span of about 4 months at a speed of just a quarter of an inch an hour. This was done with incredible attention to detail, and safety measures were excellent. The theater was outfitted with sensors, vibration monitors, and GPS systems and was inspected inside and out after every inch it progressed. The painstaking procedure was recently accomplished, and the historic theater now sits 30 feet above street level, unharmed and ready for the rest of its $50 million makeover.

Urban Foundation and Engineering, the firm responsible for overcoming this challenge and overseeing its progress, is the same one that moved the Empire Theater back in 1998. The president of the firm, Anthony J. Mazzo is the man behind the original invention of the giant lift used 30 years ago for a project involving the roof of a warehouse in Queens. Despite that, he was still awestruck with the system of jacks and telescoping beams, saying, “It’s been quite a feeling to see it happen. I feel like it’s worked like a charm.” So they did have a little experience doing this type of thing. But, the Empire weighed half as much as the Palace, and it only had to be raised a few inches off the ground to be placed on metal tracks that helped to move it 170 feet westward. Nothing like the Palace’s elevation feat has ever been accomplished before.

The Palace Theater and TSX Broadway

The big picture for the development at 1568 Broadway – and the reason for this lift – is to unlock the retail space at ground level in an area with some of the priciest square footage. It’s being called the first “entire building immersive experience,” likely taking advantage of the hype from the trending immersive experiences lately in NYC. Regardless, Times Square is the place to be, and TSX Broadway is not just going to be part of the action – they’re going to be THE action.

The 46-story tower will contain a 660+ key hotel of the highest class, where every room is a front-row window seat to Times Square. The building will also contain 4,000 ft² of outdoor entertainment, a restaurant, 75,000 ft² of experiential retail space, and integrated streaming, broadcasting, and live performance capabilities. But probably the coolest, most talked about feature will be the extendable, cantilevering stage above Times Square for iconic performers and epic performances. New Year’s Eve will be off-the-hook!

TSX Broadway is currently set to open in 2023, with various stages of the project, like the giant screen, being released in stages.

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