Career/Life Highlights 

In Arnault’s early career, he heard the business Boussac Saint-Frères empire, a textile and retail conglomerate that owned Christian Dior, was looking for someone to take over. Skipping the details, Arnault ultimately bought Boussac, and when he did, he laid off over 9,000 employees in the first 2 years, earning him the early nickname “the Terminator.” 

Unlike fellow billionaire Elon Musk, who created his businesses from nothing but an idea, growing them into the empires that made him the former richest man in the world, Arnault has a great eye for fashion and the luxury industry mixed with a shrewd business acumen. In fact Ye said at one point in time that Arnault is one of his heroes and when asked about his feud with Drake at that time, that he thinks more about “Arnauld than Drake”. This comes even if he may harbor ill feelings towards Arnault after Virgil Abloh received a position at Louis Vuitton over Ye. 

Arnault uses his aggressive style and savvy business sense to take over any business he chooses where an opportunity may lie. And boy does he choose well, only going after luxury brands he feels are up to the extremely high standards of LVMH. He typically goes after established luxury brands that have already proven to be timeless, watching for the opportunity to take the largest majority in stock holdings. 

He has been accused of using his influence in various instances, as he is friends with the French President – and was friends with the previous French President, as well. While inspired by Warren Buffett and Steve Jobs, Arnauld has received criticism for some of his business practices. In 2017 it was discovered that his large factories for Louis Vuitton shoes were in Romania, where the workforce is cheap. This became a problem due to the Louis Vuitton brand’s claim to value its heritage and operate in Italy using an Italian workforce. However, a spokesperson for LVMH rejected the claim.

Arnault also applied for citizenship in Belgium, presumably to avoid taxes, although when that was questioned, he dropped the process – making the whole thing even more suspicious. 

The man himself is soft-spoken, polite, cultured – just as you would expect one of the top richest people on earth to be. Arnault is a trained classical pianist and an avid art collector, with works in his personal collection by Andy Warhol, Picasso and countless others. He lives a life of pure luxury as he owns a private island that is “invitation only”, a private luxury yacht and some fabulous real estate – which we will get to, of course

Bernard Arnault’s Real Estate Portfolio

And now, it’s time to get to the section we’ve all been waiting for – Bernard Arnault’s real estate! It is truly a massive and impressive portfolio, fit for the richest man in the world, but only in cost. People have reacted before that the portfolio could be larger, but even still, he has too many homes to live in!

Keep in mind he owns jets (well, before he sold them so people on Twitter wouldn’t track him), luxury cars, and one of the largest yachts in the world. The yacht is a 150-foot superyacht that cost $150 million, has a glass-bottomed pool, an outdoor cinema theatre and jacuzzi, among countless other guilty pleasures.

Like many of the ultra-wealthy, Arnault is private, so it is rare to see the insides of his homes, and there is scant information about the estates, but let’s start with Arnault’s main residence.

Bernard Arnault’s French Real Estate

Arnault’s castle is surrounded by the vineyards of Bordeaux, France, and is over 150 years old. Having been in the family since 1998, the property covers 41 hectares. 

Arnault owns 25 wineries around the world, one of which is in Burgundy which is almost 25 acres large that he purchased for 10 million euros.

In the French Alps, Bernard’s Cheval Blanc is a glamorous hotel used for both business and personal matters. There are 34 rooms in the luxury hotel, a private chalet, a penthouse, a heated swimming pool, a jacuzzi, and fitness center. 

Arnault additionally owns château Saint-Rémy-des-Landes in  Clairefontaine-en-Yvelines and a villa in St. Tropez.

Bernard Arnault’s United States Real Estate

Arnault owns 5 homes in Beverly Hills, CA. right here in the USA, totaling $125 million. Two are located in the Trousdale Estates neighborhood, while another two are also right next to each other on the infamous Bird Streets. 

Arnault reportedly bought one of those homes in the Trousdale Estates neighborhood of Beverly Hills for $30 million in 2018, to complement a neighboring parcel in 2016 for $32.5 million. It’s 6,400 ft², and he was building a house on the combined 2.84 acres. 

It may be possible to stay in one of his “properties” as LVMH’s Hotel Cheval Blanc Beverly Hills, is planned for Rodeo Drive and could receive final city council approval soon.

Other Notable Arnault Real Estate

In 2000, Arnault purchased a 318-acre plot of land called Lyn Park, that is 30 kilometers North of London, on which he built a luxury villa of 4,300 m2.

Lastly, Renault owns Indigo, an entire island he purchased for $35 million located in the Bahamas. The island is 133 acres, and guests can only access it with a private invitation. Once again, it must be nice to be so exclusive. 

Featured image: Jérémy Barande /Ecole polytechnique Université Paris-Saclay/CC BY-SA 2.0

The post Bernard Arnault and His Surprisingly Small Real Estate Portfolio 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.

The post Palace Theater Lifted 30 Feet. TSX Broadway Accomplishes the Impossible appeared first on CitySignal.

The architect was the famed Hugh Stubbins, and his chief structural engineer was Bill LeMessurier, who happened to also be a close friend. The event is known to history as the Citicorp Engineering Crisis, an astonishing tale that details the unique circumstances which created a problem of epic proportions. We will discuss both the structural and ethical nature of this problem, those responsible, and the actions they took in response.

The Church

It all started with St. Peter’s Lutheran Church. The church needed a new building, and decided to look into selling the lot they currently occupied—but were thankful to be able to strike a deal with Citicorp developers. The church only occupied a small corner of the lot, and were willing to allow Citicorp to build there—as long as they rebuilt them a new church that was separate from the main structure, kept on the same location. If they could do that, then they were free to build around and above the corner of the lot the church occupied.

Enter our main character, William James LeMessurier, Jr., a well-educated and revered structural engineer heavily involved in the project. He came up with the idea of putting the skyscraper on “stilts,” and drew a simple sketch on a napkin at a Greek restaurant one evening. The stilts would have to be located in the center of the building instead of the four corners you might expect, because they had to avoid St. Peter’s corner of the lot.

The Design

The design plans for 601 Lexington Ave. were unique, and LeMessurier was a large part of them. The tower was to be 59-stories tall and ultimately reached a height of 915 feet, making it the 7th tallest skyscraper in the world (at the time). The stilts alone measure 112′ (feet) high each and are positioned underneath the centers of the towers’ outer edges, cantilevering 72′ feet outward from the core. In addition to hanging over the top of the church without disturbing it, the stilts also allowed for pouring a smaller foundation than would normally be necessary.

LeMessurier also designed the inverted chevron-shaped, load-bearing steel braces that are above the stilts and make up the steel-reinforced frame of the tower. They are designed to distribute tension from the upper stories caused by wind. The wind loads from each section are transferred into the center of the frame, where 60″ inch wide mass column transports extend the full height of the tower. The chevrons are not visible from the exterior but can be seen from inside. There were over 200 joints, however, which were designed to be welded together, for the added strength to withstand possible heavy winds. At the last minute during construction, the decision was made to use bolts instead of welding them, to save money. Though LeMessurier’s office received and accepted the change, LeMessurier himself said later he was unaware.

Additionally, LeMessurier was praised for his innovation of using a TMD, or tuned mass damper, to counteract swaying motion on the top levels. The mechanism is located at the rooftop in the mechanical space, and consists of a 30′ X 30′ X 6′ concrete block weighing 400 short tons, sitting on a steel plate in a pool of oil. It contains two spring mechanisms, one that counteracts north-south movement and one that counteracts east-west movement. It was the first skyscraper in the city to feature a TMD, and it was installed at a cost of $1 million.

The Design Flaws

Especially when showing off first-time innovations, there’s a proclivity for the unexpected—there were a few design flaws. The worst flaw of all was kept hidden from the general public, and a unique set of circumstances enabled that secret to be kept for nearly two decades. The first problem that occurred had to do with the roof. Originally, the roof was planned to be terraces for apartments. But strict zoning laws prohibited that, so the initial idea of 100-or-so apartments at the top had to be scrapped.

Since the building itself was actually designed to be energy efficient, the roof was prepared to be outfitted with solar panels. But the cost of those panels was significant, and Citicorp decided to do a study on it first to measure cost vs. savings. Ultimately, that idea was shelved but the design was kept. The angled roof made it stand out, comparatively, and the building was easily recognizable on the skyline. There was just one problem: Winter came, and sheets of ice and snow collected on the sloped roof, causing it to crash to the sidewalk below. Measures were eventually taken to stop that from happening, thankfully before anyone was hurt.

The Phone Call

In June of 1978, a year after the Citicorp Center debuted, an undergraduate student named Diane Hartley was writing her thesis on the Citicorp building. Her calculations uncovered some shocking information. Hartley double-checked her figures several times, then decided to reveal her frightening discovery within the thesis.

Her professor, David Billington, reviewed the calculations in Hartley’s thesis, and made a notation on the report questioning the numbers. Hartley was sure her calculations were right, so she decided to call her contact at LeMessurier, Joel S. Weinstein, to verify her numbers. She was told they were correct, and expressed her concerns. But she was reassured the building was structurally sound, and could withstand the winds. So she dropped the issue.

NYC only requires skyscrapers to account for perpendicular winds when calculating risk. This is because most buildings that are strong enough to handle perpendicular winds can also handle any quartering winds that might occur, since perpendicular winds are typically much stronger and more dangerous. But this was no ordinary building. Hartley had done thorough calculations, and the results had shown that the building was particularly vulnerable to being toppled over if high quartering winds occurred.

The Realization

Meanwhile, Weinstein, who took the call, wisely decided that perhaps he should at least mention it to LeMessurier. At first, LeMessurier dismissed the student’s claims. However, it stuck in the back of his mind, and after some time, he began to consider it seriously. He realized he had not factored in quartering winds, so he ran the numbers himself. Then he ran them again. And again.

Next, he pulled weather data and factored that in. Although LeMessurier’s initial feelings are not recorded, we can only assume images must have flashed through his mind of public humiliation. His career would most assuredly be over when the truth was revealed. LeMessurier had confirmed Hartley’s findings.

The Data & The Dilemma

LeMessurier was able to determine that a storm with winds strong enough to topple the building occurred in NYC once every 55 years on average. That was bad enough, but he had previously found another critical error: the bolted joints. Even with both of these issues, the TMD would theoretically render the risks negligible. However, the TMD would have to be functioning properly, and if the storm caused a power outage, it would be rendered useless.

The risk was completely unacceptable. What if something happened and people were hurt or killed? LeMessurier first ran tests of his own, and then visited a wind-tunnel expert he knew in Canada, who ran more tests and confirmed his fears. He agonized over his next move, even considering suicide by traveling 100 miles an hour into a bridge abutment. But he says he didn’t consider it very long, “Because if I did that I would miss finding out how the story ended—and that might be a rather stimulating experience.” The explanation conspicuously left out public safety issues. His ethics in handling the situation were shaky at best, yet he is known for them in history.

The Decision

Ultimately, he did the right thing—mostly. LeMessurier informed the architect’s attorney, his own liability insurance company, the architect, and the owner of Citicorp, who all decided to collaborate in secret. LeMessurier later told an audience of students at M.I.T. in 1995, “We had to cook up a line of bull, I’ll tell you. And white lies at this point are entirely moral,” citing the reason as not wanting to incite panic. But the fact of the matter is, all those “people in charge” were in on the subsequent coverup. Though few people were told at all, among them were building officials, Mayor Ed Koch, the Red Cross, the police, and the head of the welders’ union. These groups developed plans for repairing the structural inadequacy of the tower and implemented them.

The entire process of the repair work took place at night, after employees got off work. It stopped when they were about to enter the building in the morning. They were told the crew were performing “routine checks and repairs,” and there was nothing to be worried about. About halfway through the repairs, a storm just the right size, Hurricane Ella, was headed for New York. Luckily, Ella turned east and never hit land. But NYC was just hours away from evacuation, with the Red Cross and other emergency personnel standing by—and no one even knew it. Later, the Red Cross estimated that 200,000 people could have been killed, with hundreds of thousands potentially injured.

The Impact

Thanks to Mother Nature, as certainly no one else can be credited, it was the disaster-that-wasn’t. A couple of odd but strategic facts came into play during this time period. Number one, Citicorp and local officials (like Mayor Koch) collaborated and came up with an emergency evacuation plan for a “just-in-case” scenario, but purposely did not publish that plan—even though public safety was at risk. Secondly, the three major NYC newspapers were on strike during this time. Also, repairs were completed before the newspapers returned from the strike. And lastly, nothing happened to cause anyone to be questioned: No hurricane hit, and no structural failure occurred. All these things combined created the perfect “disguise” for the issues to remain a secret.

The Discovery

You’ll never guess how the story got out to the general public when it did. In a strange twist of fate, Joseph Morgenstern, a reporter for The New Yorker, was at a cocktail party one evening, listening to people’s stories. He overheard the story being told there, and called LeMessurier to ask for an interview. Perhaps LeMessurier consented to the interview because he was feeling guilty after all his efforts to keep the incident quiet, and after receiving several awards and praise for his structural design of the building. Whatever LeMessurier’s reasons, Morgenstern got the interview, and the story broke in 1995. Only after the BBC issued a documentary about the event did Diane Hartley (the former student) find out the impact of her discovery.

Afterward

When the public found out, they were not extremely impressed. The event was over, nothing had happened, and the danger had passed. But many in the field called LeMessurier a hero, showering him with praise and adoration. Others called LeMessurier’s ethics into question, while still others called him an example of someone ethical. LeMessurier died in 2007, but remains something of a hero to many engineers and architects. The Citicorp Engineering Crisis is now an ethical case-study for many architectural degree students.

How many other near-disasters may have “almost” happened? How many design flaws do we know nothing about? If city officials and community leaders will knowingly mislead the public over these types of issues, what does that say about their ethics and leadership? It’s important for us to hold people accountable for mistakes of this magnitude, especially when it concerns public safety. The Citicorp Engineering Crisis is a case to learn from.

The post The Averted Citigroup Skyscraper Disaster  appeared first on CitySignal.

It was May 24, 1883. Up until that day, to get from the city of New York (now the borough of Manhattan) to the city of Brooklyn (now a borough in New York City), you had to take a ferry. For fourteen years, residents of the two cities had been watching the incredibly slow progress, hoping against hope for the solution the bridge would bring. Thousands of people gathered for the exciting and historic event. The 21st President of the United States, Chester A. Arthur (who had been Vice President under President James A. Garfield until his 1881 assassination), was there. The Mayor of New York, Franklin Edson, was also there, as was Governor Cleveland. Washington Roebling, son of John Augustus Roebling, the man who originally designed the Brooklyn Bridge, could not attend, but his wife, Emily Warren Roebling, was there. There were even ships gathered in the East River to watch the monumental event take place. It was the day of the grand opening of what was then called the New York and Brooklyn Bridge.

The Roeblings

John Augustus Roebling

It all started with John Augustus Roebling, an immigrant from Germany who was a very successful civil engineer who built wire suspension bridges in America. Roebling was a gifted child, and his mother sent him to study in Erfurt (central Germany) at age 15. Roebling later went to Berlin, where he studied architecture and engineering under Martin Friedrich Rabe, bridge and foundation construction with Johann Friedrich Dietlein, and hydraulics under Johann Albert Eytelwein.

In 1831, he emigrated from Prussia (which dissolved and is now Germany) to Pennsylvania, where he and his brother Carl bought the land that would eventually be the town of Saxonburg. After the birth of his first child and the death of his brother, he left the unsatisfying work of farming and moved on to surveying railroad routes and engineering work, building dams and locks.

John A. Roebling, 1866, via Wikipedia Public domain

Roebling then went on to design several wire suspension bridges, including the Covington – Cincinnati Bridge, now called the John A. Roebling Suspension Bridge, the longest suspension bridge in the world at the time of its completion. Roebling became famous for a type of seven-strand wire rope or cable he invented that influenced the designs of many suspension bridges. In fact, in a posthumous nod, John A. Roebling’s Sons Co. is the cable company credited with being used in constructing the Golden Gate Bridge.

Roebling later perished due to complications from an injury sustained during the construction of the Brooklyn Bridge, one of the first stories that started the bridge’s dark history.

 Advertisement for The John A. Roebling’s Sons Co., via Wikipedia Public domain

Washington Augustus Roebling

Washington Augustus Roebling was the first-born child of John and followed in his father’s footsteps in the business of engineering. Originally serving as an officer in the Union Army at the Battle of Gettysburg, Washington eventually took over as chief engineer on the Brooklyn Bridge project following his father’s initial injury.

Roebling’s first son designed the two pneumatic caissons for the Brooklyn Bridge, which essentially are the foundations for the towers. While heralded with completing the massive and impressive structure, Washington eventually received a major injury causing him to be an absentee from most of the construction while his wife Emily took over.

His strongest passion was collecting rocks and minerals, and today his massive collection can be found at the Smithsonian Institution.

 Portrait of Washington Roebling, via Wikipedia Public domain

Emily Warren Roebling

Emily Warren Roebling had spent 11 years totally devoted to the Brooklyn Bridge project, supervising daily work and carrying out the meticulously calculated yet ever-changing plans.

 Portrait of Emily Warren Roebling, via Wikipedia . Public domain

Emily was anything but typical, as she understood advanced mathematics and later taught herself the technical issues needed to assist in the bridge’s construction.  This allowed her to take over the supervision of daily operations and perform the duties of chief engineer, which was unheard of, especially for a project of this magnitude. Eventually, Emily would step into her husband’s shoes when he became ill, and she wore them quite well–for more than a decade.

“The Curse” Begins

John Roebling submitted a master plan in 1867 after being named the project’s chief engineer for the construction of a suspension bridge across the East River connecting the two cities of New York and Brooklyn. This bridge would be both longer and taller than any other previously built and would include roadways, elevated rail tracks, and a promenade for pedestrian travel. Initially, the plan was well received in both cities, and people talked excitedly about it being a world-changing event. Two years later, however, people began to criticize the project as either too expensive or too difficult. Not to be dissuaded, John Roebling held what he called a “bridge party” in 1869, inviting other engineers and members of Congress to come and see his other successful suspension bridges and to calm their fears.

In the process of going over the plans with the other engineers, it was determined that the main length of the bridge would have to be raised from 130 feet to 135 feet. This required some other adjustments overall, so John began to conduct the surveys. Taking the ferry back and forth to do so, John was fatefully injured when his foot was crushed between the ferry and a piling. Keeping remembrance of the times, John’s toes were amputated, and as a result, he developed tetanus and then lockjaw, which killed him within a month. This was, unfortunately, just the first of many tragic events to come. The so-called “cursed” project would claim many more lives before its completion.

Washington and the Caissons

After his father died in 1869, Washington Roebling, then 32, was designated as the chief engineer. Tammany Hall, the prominently Irish immigrant-founded organization known for its political corruption, controlled the New York and Brooklyn Bridge Company and approved the designation. Construction began on January 2nd, 1870, with the caissons. Washington Roebling designed these caissons, which are the structures on which the two suspension towers were built upon. (See diagram below.)

Diagram picture of a caisson, By unknown artist/W. A. Roebling, engineer – The American Cyclopædia, v. 3, 1879, p. 557 (Fig. 2)., Public Domain, Link

The work that then needed to be done was dangerous, however. It involved pumping the space inside the caisson with compressed, pressurized air. Workers would then go into the caisson to dig the sediment below until it sank to the bedrock. At that point, the caisson would be filled with concrete. They worked in the icy water of the East River, but as one worker described it, the temperature was about 80 degrees, and despite the cold water, they were shirtless and soaked with sweat in 5 minutes.

It’s estimated that a total of around 2,500 men worked inside the caissons during this phase due to the high rate of turnover and risk of acquiring what was called “caisson disease” (“the bends”) from working in the pressurized air and rising to the surface too quickly. Workers suffered blinding headaches and also risked paralyzation from the pressure. The Manhattan side tower’s caissons required workers to perform in much deeper water, which meant even more pressure. Washington was himself working in the caissons every day.

The Brooklyn side caisson was constructed in Greenpoint at the Webb & Bell shipyard and was launched into the East River on March 19th, 1870. The Manhattan side launched on May 11th, 1871, from the same shipyard with great excitement coming from a crowd of 3,000 people who took over the shipyard to watch. Several hundred more watched from the piers, nearby building windows and rooftops, and even ships’ decks. New Yorkers in both locations were highly engaged in every major step of building this historic bridge. But before that day, tragedy had struck the seemingly cursed project again: not once, but twice.

The Great Blowout and Washington is Down & Out

During the work being done on the caisson on the Manhattan side, several fires broke out. One, in particular, was called “the great blowout” because it was the most significant and caused about $250,000 worth of damage to the caisson. The timber on the roof caught fire, and subsequent holes had to be repaired, which delayed construction by several months. Repairs were finally completed in March of 1871.

Throughout the caisson work, over 100 men were treated for decompression sickness. Since this condition was unknown at the time, the project physician called it caisson disease. After constantly working in the caissons as well, Washington Roebling himself fell victim to the “disease,” suffering a paralyzing injury. This happened right about the time they broke ground for the tower on the Brooklyn side, and Roebling was bedridden from that point forward. He used a telescope to “supervise” and observe progress from his window but would not have been able to finish the project without his very smart and devoted wife.

A Female Chief

It was at this point Emily Roebling took over for her husband. This was a monumental feat as in the 1800s, women did not generally have the same access to higher education that men did, among other things, and they did not typically study advanced mathematics and engineering.

At first, this just entailed writing and hand delivering instructions and messages to and from the crew, as well as describing to him in detail what was being done each day. But Emily already understood advanced mathematics and quickly learned calculations of catenary curves, strengths of materials, bridge specifications, and the intricacies of cable construction. What she wasn’t sure about, Washington explained in detail for her. Her knowledge rapidly became vast and impressive.

She began spending most of her time on-site, supervising the project in person. In fact, many people assumed she was the one behind the design, especially since she was the “face” of the project. To remain in charge, Washington had to maintain certain aspects of the job, such as appearing in person at the Bridge’s trustees’ meetings. His reputation was questioned when he missed one of the meetings in favor of a trip to Newport, Rhode Island. This was exacerbated by the media, who had discovered the story and called for his termination as chief engineer.

Emily had to lobby for her husband to remain in the designated position of chief engineer. She was well received by powerful politicians and won the right for Washington to remain chief engineer. Emily dedicated the next eleven years of her life to the completion of the project. It’s fair to say that the Brooklyn Bridge would not be what it is today, if not for Emily Roebling.

The Towers and the Curse Continues

The next phase was building the towers. This would prove to be a complex process that took four years to accomplish. It started in mid-1872, and the Brooklyn side was finished first, but both sides were mostly completed by July of 1876. The anchorages could not be completely finished until the main cables were spun. All of this work, on the towers especially, was very dangerous. Even still, there were an unusually high number of accidents that resulted in the death of multiple workers. By 1876, three men had fallen from the towers to their deaths, and several other accidents had happened that resulted in the deaths of nine others.

Even as the death toll rose, another major step was about to be attempted. Temporary cable wires were stretched between the two towers to form a temporary footbridge for the workers while the cable spinning phase was going on. Then, a “guinea pig” was needed to test its strength, so the next step involved sending an engineer across the “traveler wire” in a boatswain chair slung from the wire. Of course, this became another major spectator event, drawing a crowd of at least 10,000 people on both shores. The test was performed without a hitch, to the crowd’s delight.

Traveler wire on the Brooklyn Bridge, circa 1872-1887, via Wikipedia . Public domain

The temporary footbridge was completed by February 1877. During the time the footbridge was in use, it was briefly “unofficially” opened to the public. A visitor’s pass could be had, and several thousand people from around the world came to cross the bridge within a couple of months it was open. It was closed again when a visitor had an epileptic seizure and almost fell to his death. Perhaps this should have been portentous of the whispered-about curse of the Brooklyn Bridge.

The Curse Strikes Again

The cable work being done was progressing nicely enough, but then tragedy struck again in 1878 when one of the wires slipped, snapping and killing two workers and injuring two others, as well as causing other property damage in the surrounding area. A”well-dressed lady” walking down the street fainted from fright. One of the men died instantly when the steel “rope” struck his forehead and split it open. The other man was struck by a second cable snapping and hitting him in the chest, tearing it open and knocking him backward and underneath the wooden guard rails, where he fell over 70 feet into a gravel yard. Amazingly, though the man was a mangled mess, he was still alive at first. He had broken his arms, legs, and back but (mercifully) did not make it.

The subsequent investigation was incredibly revealing. Back when the cable was being contracted, several bids were received, including the lowest bid, which came from The John A. Roebling’s Sons Company. However, a Bridge trustee who Washington openly did not trust, Abram Hewitt, directed that the contract be given to his friend’s company, J. Lloyd Haigh, instead. Haigh was found to have substituted subpar wire to save money, putting $300,000 in his pocket. Eighty rings of the cable were tested, and only five met standards. Haigh was not fired but was ordered to pay for the better quality wire.

Finishing the Bridge and Opening Day

Construction on the bridge’s superstructure, where the roadways would be, started in March 1879. There was a significant delay of nearly two years caused by one of the companies contracted for steel: Edgemoor Iron Works, based in Pennsylvania. The steel delivery kept getting put off, then blamed on another company. Eventually, after an investigation, things got moving, and the Brooklyn Bridge was essentially complete by January 1883. In fact, it was expected to open in June but was moved up a month. There was still some work being done at that time, but mostly for the pedestrian approaches (entrances ) to the bridge.

On the day of the opening ceremony in May of 1883, Abram Hewitt gave a memorable speech and Emily Roebling waited for her grand entrance, where she would be the first person to “officially” make the trek across the Brooklyn Bridge. She did so in a carriage, carrying a rooster, as a symbol of victory. Washington Roebling held a celebratory banquet at his home that day since he could not attend the ceremony at the Bridge.

People came from all over for the opening ceremony and celebration, and festivities included a live band performance and a fireworks display. That first day, 150,000 people and 1,800 vehicles crossed the Brooklyn Bridge. It had cost the two cities $15.5 million dollars, which today would be nearly $450 million. But the greatest cost was paid in human lives, with no less than 27 people that died during construction, and countless people injured. The problem is, it didn’t stop there.

Eastward view, Brooklyn Bridges, 1899 ~ via Wikipedia. Public domain

The Tragedies Beyond

Unfortunately, the tragedies continued beyond opening day, perpetuating what must have certainly seemed like a curse. Just six days later, on May 30th, 1883, a woman tripped and fell down a stairway at the New York approach to the Brooklyn Bridge. As she went down, another woman who saw her fall screamed, which caused immediate panic and an ensuing stampede. At least twelve more lives were claimed, and 35 more were seriously hurt.

During the horrid event, a group started pickpocketing and openly grabbing anything of value, adding to the chaos. In 1885, Rober Emmet Odlum was the first person to jump from the bridge, hitting the water at an angle and dying from injuries. Since then, Brooklyn Bridge has attracted those who are desperately hopeless in great numbers, over time gaining a reputation as a “suicide bridge” that continues to this day.

There have been other notable tragedies on the bridge as well, including terrorist activities. On March 1st, 1994, Rashid Baz opened fire on a can carrying members of the Chabad-Lubavitch Orthodox Jewish Movement. Baz was arrested for his terrorist attack that claimed the life of 16-year-old Ari Halberstam. The entrance on the Manhattan side at Civic Center was named the Ari Halberstam Memorial Ramp in Halberstam’s honor.

While many gave their lives over the course of history of the Brooklyn Bridge,  it’s safe to say that NYC would not be the legendary place it is today without it. The historic significance of this bridge is huge and more well known than the people who built it, including Emily Roebling, who paved the way for many future female engineers.

The post The History of the Brooklyn Bridge and its Dark Legacy appeared first on CitySignal.

How Condos Are Different Than Apartments 

In NYC, when you hear the term apartment, keep in mind that it’s a blanket term used to describe a residence inside of a shared building. It references a form of living rather than a type of residence. A condo refers to a building where everyone owns their individual apartment, and have deeds to the property. It’s said to be the most flexible form of ownership in New York City, because condos are easier to rent or sell and have fewer restrictions. An apartment can be either rented or sold, but a condo generally implies ownership. 

What’s a co-op in New York City?

Co-ops, short for cooperatives, are a different model of ownership than a traditional condo with a singular owner. In NYC, co-ops account for 75% of residential housing options. When you purchase a co-op apartment, you’re actually buying shares in a corporation, which is the building itself. Therefore, you do not actually own your apartment. Instead, you have a proprietary lease to occupy a certain space within the building—one that can’t be canceled (unless you decide to sell it). When a person is interested in buying into the co-op, they will also have to be approved by the co-op’s board, which is made up of other tenants who are elected to be members. Co-ops typically come with many rules for residents and extra fees, so work closely with an agent to help guide your selection.

What is a condop? 

If you come across a building with a store on the ground floor and condos for sale above, you’ve likely found a condop. These are fairly rare, but do exist throughout the city. Mixed-use buildings with commercial space alongside condos or residential space are called condops. These buildings have multiple boards that govern the commercial and residential areas separately. Because of this in particular, be sure to do your research on condop ownership, especially on the commercial side of the building you’re interested in. There can be problems with building rules in condops, especially when the commercial co-op board has more shares (and thus more power) than the residential co-op board.

What is a pied-à-terre? 

Well, let’s start with the obvious: it’s a French word, and originally started in Paris. The translation of pied-à-terre is “foot on the ground,” and in the case of many New Yorkers, it really means having a “foothold in the city.” For many, commuting for 2 hours or more to get to the office every day is not sustainable. It may make sense to get a place in the city that you can go during the week: a pied-à-terre. Because affordability is an issue in NYC, sometimes coworkers or colleagues go in on one, sharing the benefits as well as the costs. It’s also simply called a second home, as the definition here in NYC is a home that is not your primary residence. If a home is purchased by an LLC rather than an individual, or the owner is not receiving the tax benefit offered to residents only, the home is considered a pied-à-terre. According to recent data, there are more than 10,400 pieds-à-terre in Manhattan alone. 

Defining Low-Rises, Mid-Rises, and High-Rises 

These terms may seem to be fairly self-explanatory, but there are specific definitions for each one, so you know exactly what size building is being referred to when you see it in print. A high rise is a building with an occupied floor 75 feet or more above the lowest street level, for fire truck access. This is the technical definition of a high-rise, however a more simplified, generally accepted definition is a building with 13 floors or more. In contrast, a low-rise building is typically 4 floors or under, although some websites say 3 floors and under. A mid-rise is typically 5 to 12 floors high. A skyscraper is usually 40 floors or higher and can also be categorized as a high-rise. 

What is a Walk-Up Apartment in NYC?

The term walk-up (or walkup) means exactly what it says—you’ll need to “walk up” stairs to get to your apartment because it’s in a building with no elevators. There are many advertised no-fee walkups available that are typically not as expensive as buildings with elevators. 

Definition of a Prewar Apartment

A prewar apartment in NYC is defined as anything built before World War II, so generally between 1900 and 1939. The distinction is made due to the creativity of layouts, quality of building materials and the amount of space in the living areas. But most importantly, these units will typically have decorative features like patterned floors, plaster, moldings, high ceilings, and sometimes large windows.

Garden Apartments

In NYC, garden apartments refer to units typically located within a townhouse at ground or partially below street level. These units boast direct access to an outdoor space like a patio or garden, and are common in neighborhoods like Harlem, Bedford-Stuyvesant and Park Slope. Typically, they’re one-bedroom apartments. If set back from the street, garden apartments will sometimes offer a small front porch area as well. These units often lack full sunlight due to being on the lower level and surrounded by other buildings, so the garden area is often located in the shade. But you can save up to 30% by opting for a garden apartment, and they’re also more energy efficient. 

Basement Apartment Definition

To be considered a true basement apartment, the unit must meet the following criteria:

• At least half of its height must be above street level 
• There must be a window in each room 
• Ceilings must be at least 7′ feet high
• Walls must be proofed against water and dampness 

Additionally, the owner of any two-family home must obtain a new certificate of occupancy designating the home as a multiple dwelling. Keep in mind, that if you don’t check for these things and decide to rent one anyway, you do so at your own risk. These apartments are vulnerable to flooding and fire, and it can be risky to only have one exit. All that said, legal basement apartments can be just as nice as an upper-level apartment—and often, a bit cheaper.

Micro Apartments for Simple Living

Trending like crazy, the “micro” apartment has been gaining popularity lately. NYC has a law stating that all apartments must be at least 400 square feet. However, in 2013, former Mayor Michael Bloomberg enacted an exception to this rule to allow micro apartments. They’re small units, typically measuring between 260 and 360 square feet. But there’s no legal minimum, and there are other, even smaller micro units (also called micro studios), that measure as little as 50 square feet. These extremely tiny apartments feature high ceilings and large windows.

Penthouse Is an Official Term in New York

But there is a specific NYC building code that defines a penthouse to be “an enclosed structure designed for human occupancy, placed on or above the roof of a building.” The New York City penthouse is one of the most coveted of all, making it unaffordable for the average person. They are usually the largest and nicest of all the units, and nearly always provide stunning views of the city from their high vantage point. Even buildings with less expensive real estate often have a penthouse or even low and mid-rise buildings.

Common Apartment Floorplans In NYC

Floor-Through Apartments

A floor-through apartment, condo, or coop refers to a unit that encompasses an entire floor of a building. However, there is one exception: some owners call a unit a floor-through if it extends the full length of the building, even if it doesn’t take up an entire floor. Either way, these spaces typically have windows in the front and back for better circulation, and have more layout flexibility. You can generally find this type of apartment in older townhouses that have been converted to multifamily buildings. You can find these in parts of Crown Heights, Bushwick, and Ridgewood, Queens. 

NYC Defines Duplexes Differently

In New York City, or at least in Manhattan and Brooklyn, a duplex has a different definition than in most other states. Most commonly seen in condos and coops, it typically means that two units have been combined into one. This is often a 2-floor apartment connected by a stairway or an elevator, or two units side by side with added doors between them.

These residences are spacious and private. Similarly, a triplex involves 3 floors (or units) into one. Because they’re typically customized builds, these are rare finds in the housing market.

Classic Six (and Seven) 

For those who can’t do without the space and layout of a typical house (and can afford it), the classic six is for you. These apartments are found in prewar buildings prior to 1940. They consist of six rooms: kitchen, formal dining room, living room, two separate bedrooms and another bedroom off the kitchen as the “maid’s quarters.” These classic homes also typically have two full bathrooms, plus one attached to the maid’s room. It was a sign of the times, for the affluent. There is also the “classic seven,” which includes another bedroom. These roomy places are found most in upscale neighborhoods like the UWS or the UES, but can also be found in Brooklyn’s Park Slope, Prospect Heights, and Brooklyn Heights.

What Is A Wing-Two Apartment?

A “wing-two” is a two-bedroom unit conjoined by a small common space, such as the kitchen, but there’s not usually much else. It has two bedrooms, but otherwise is very small. A wing-two can make a terrific option for roommates trying to save on expenses. 

A “True One” Bedroom

The so-called “true one” is an apartment with a layout that has at least two rooms that are separated by a door—a “true” one bedroom. Now keep in mind, NYC apartments are small to begin with. This distinction is important because there are plenty of one-room studios in New York, so it’s crucial for apartment hunters to know whether there’s a door that separates the bedroom from the rest of the living area.

Junior Ones 

The “junior one” falls somewhere between a studio and a “true one.” It’s also advertised as a studio + office, and the reason for that is a NYC housing law that states a bedroom must have a window and a closet to legally be called a bedroom. So basically, a junior one is a studio with an extra windowless, closetless room.

Alcove Studios 

The alcove studio is similar to a “junior one.” While junior ones tend to have a separate room that cannot legally be called a bedroom, alcove studios have a nook or alcove area that is just big enough to fit a small bed or a desk and chair. In an alcove studio, you may need to put up your own partition, and the area may or may not have a window (but generally do not). 

Convertibles and Flexes

A fairly common term for some apartments is the “convertible” or “flex,” short for flexible. The term refers to one space being large enough to be converted into two spaces. It can feature any bedroom count and is typically advertised as a “flex one” or a “flex two.” For a while, it seemed as if these units were going away for good, but it seems they are still popular. Some landlords will still allow the installation of pressurized temporary walls, which don’t use nails, screws or hardware that can damage the structural integrity, and provide the privacy of walls for partitioning space for roommates.

Are railroad apartments next to trains?

Nope! The term “railroad” actually refers to a floor plan with rooms that lead into each other without a hallway or alternative passage, sort of like cars on a train. This means you might have to walk through the kitchen to get to the bedroom or bathroom, or through the bedroom to get to the kitchen. These apartments can be a pain, but rent can be up to 20% less just for being willing to put up with a semi-uncomfortable floor plan. 

The railroad apartment building model is typically prewar, especially the late 18th century to early 19th century, and were built to optimize space, therefore are often extremely narrow. They can also lack proper air ventilation or circulation, or even windows. However, New Yorkers understand the value of housing discounts of any kind, and know that if you’re going to find something affordable, you may have to give up some things in return. Plus, there are modern ways to fix minor issues like these—or at least make the best of them.

Loft Apartments Are Still Trendy

In NYC, loft apartments are romanticized and commonly sought after. Artists popularized the NYC loft, and today they are often seen advertised on social media, and are featured in many movies, books and TV shows, perpetuating the trendy fascination. They’re known for having quite a few distinctive characteristics such as:

• Large, open floor plans 
• Oversized windows 
• High ceilings of 10’ feet or higher 
• Are at least 400 square feet (by NYC’s “Loft Law”)

A true loft apartment will be located in a multifamily building that’s been converted from commercial to mixed-use. The building typically will have once been used for manufacturing, commercial or storage. Most lofts are specifically converted warehouses or factories, but today cannot be in a business-industrial zone unless located in Williamsburg, Greenpoint, or certain parts of Brooklyn and Long Island City.

Townhouses, Rowhouses, Brownstones, and More

While townhouse, brownstone, and rowhouse are terms that are used interchangeably in NYC, they are actually 3 different things. A quick way to think of it is that a townhouse may or may not be attached and will look similar to its neighbors, while a rowhouse shares a wall with another home and will have almost the same design. Both will be multiple-story homes and similar in size. A brownstone can be either a townhouse or a rowhouse but will have the literal brown stone exterior. 

What are rowhouses?

The term rowhouse comes from London, where they’re prevalent. They’re similar to townhouses, but a rowhouse is not as fancy or nice as a townhouse, and typically rowhouses are identical-looking houses all in a row. Rowhouses are usually between 2 to 5 stories, containing one or two family homes. They share one or both side walls and a roofline with the structure next to it, making a row of houses that all look alike and are the same size. Units within the rowhouse are sometimes called “Two Up, Two Down” because of the shared walls and chimney between units. Brooklyn has many of these rowhouses in its oldest neighborhoods, and many that have been converted to multiple dwellings. According to the Landmarks Preservation Commission, rowhouses are the dominant building type in New York City’s historic districts. Many were built between 1800 and 1925 to house a growing middle class.

Brownstones 

A highly sought-after real estate option in New York City is the brownstone. The term brownstone is often used to describe a townhouse, but it does have one defining characteristic: the building material. No, it’s not just brown-colored stone. The term refers to a brown-colored sandstone that was easy to quarry and easy to carve in any direction, which made the material popular in building. The “brown” stone actually starts out pink and turns brown over time. But it can also degrade over time, which is one reason it’s not used much anymore. In any case, brownstones are a charming and historic part of many NYC neighborhoods, such as the Upper West Side, Harlem, Fort Greene and Bedford-Stuyvesant. NYC brownstones are some of the most luxurious and desired dwellings in the city. 

Clapboards

Clapboard townhouses are known for their horizontal wooden plank siding. They require a lot of maintenance, and generally are quite expensive. You can find them in Sylvan Terrace in Washington Heights and the West Village.

Limestones 

Limestone townhouses are more durable than brownstones. Considered high-end construction material, limestone is used in building mansions like the Herbert N. Straus House (where Jeffery Epstein lived) and certain NYC landmarks—the Empire State Building, the Flatiron Building, and 30 Rockefeller Center, for example. Limestone townhouses can be found on the Upper West Side and the Upper East Side but are also common throughout Brooklyn and other boroughs. But beware, limestone also requires a lot of maintenance, and cracks are common. 

Vinyl-Sided

There are vinyl-sided townhouses, which some people like and some people hate. But in concept, the material is revolutionary—it’s durable, and doesn’t warp, rot or crack. But you won’t find many in Manhattan. Vinyl-sided townhouses are most common in Brooklyn neighborhoods like Williamsburg and Greenpoint, as well as in parts of Queens. 

Brick

Whether on the outside or the inside, brick adds charm and durability to any building. Brick is fire-resistant and provides extra insulation, so brick townhouses stay warmer in the winter and cooler in the summertime. Brick townhouses are loved for their lasting strength and little maintenance. They can be found throughout New York City. 

Though learning all the many different types and terms of the NYC housing market can feel overwhelming, it won’t be long before you get the knack and find the right fit for your needs. New Yorkers have learned many creative ways to make city living possible, even if you can’t afford to spend 50% or more of your income on housing. 

The post The Ultimate Guide to NYC Apartment Types  appeared first on CitySignal.

Early 20th Century Crime

Several things happened at the beginning of the 20th century, and throughout the first half of it. World War I ended in 1918, after which Times Square experienced a period of rapid growth. But then Prohibition was officially enacted, from 1920-1933, along with the Great Depression, which lasted a decade, from 1929-1939. During this period of economic decline as well as afterwards, NYC gangsters established organized crime, and “Lucky” Luciano is credited with being the most powerful mafia boss of all, distributing power among the “big five” families.

Times Square had long been associated with having many theaters, but after the Great Depression, many of them were replaced with saloons, brothels, burlesque halls, vaudeville stages, and dime houses. Illegal gambling and prostitution were rampant. Times Square also became known as the main gathering place for awaiting big news or celebrating national events.

The 60s, 70s, and 80s: the Era of Sex, Drugs, and Violence

The next three decades would represent rapid decline for Times Square into the seediness of the sex and drug industries. Crime ruled the streets, and the area became known as one of the most dangerous spots in the city. Porn theaters replaced traditional theaters, and strip clubs became all-nude shows featuring live sex acts. Bright, blinking signs everywhere advertised fulfilling fantasies of every kind imaginable. Similar to barkers at a carnival, men stood outside entrances, calling out and trying to persuade people walking by to come inside.

Those who worked in and around Times Square could not walk through the area without being approached by stolen goods hustlers, con-men and extortionists, drug dealers, prostitutes, bums, pickpockets, and other criminals. The subway system was crawling with hustlers, pimps, drug addicts and drug dealers. The lowlifes of society could be found 24/7, in and around Times Square.

The element of danger had always been there, but during this time, young women and even children were vulnerable to being trafficked in Times Square. This is partly because many missing young people ended up on NYC streets, and there was no shortage of all types of violent predators.

In fact, during this time period serial killer Richard Francis Cottingham was active, also known as “the Times Square Killer.” He targeted young sex workers, luring them to another location where he tortured, raped, and ultimately killed them.

Recovery Process Begins

Going back to when Mayors Ed Koch and David Dinkins were in power, a long term plan to restore and revive Times Square was hatched. It would take some time, but slowly, the area began to heal. For context, the area between 40th and 50th Streets and Seventh and Ninth Avenues was getting over 15,000 complaints reporting crime every year.

During the 1980’s, Times Square experienced a commercial building boom. In 1987, the city enacted some highly unusual building requirements, just for the Times Square area. They required new commercial construction to use large, bright light signage, and with minimum brightness requirements. This was the only section in the entirety of Manhattan with this type of requirement, and additionally kept the area from getting too dark at night. These were just small changes, but resulted in an overall shift that was palpable.

Times Square in the 1990’s

In the 1990s, big things began to happen in Times Square. First, the State of New York took control of 6 out of the 9 historic theaters on 42nd Street. Secondly, the city established a nonprofit called The New 42nd Street, which was dedicated to the renewal of 42nd Street between 7th and 8th Avenue, which was seen as one of the worst areas in Times Square. The organization was tasked with finding new uses for old theaters on the block. This was a daunting challenge because at that time, most of the street was littered with sex shops and strip clubs, even occupying once reputable theaters.

Then in 1992, the BID (Business Improvement District) was formed, now known as the Times Square Alliance. The TSA was a coalition of city, government, and local businesses dedicated to improving the quality of commerce and cleanliness in the district. Once this entity was formed, working in partnership with The New 42nd Street, things really started to change. Additionally, in the mid-90s, Mayor Rudy Giuliani led an effort to clean up Times Square. This resulted in pornographic businesses being closed and increased police presence and security. Tenants paying low rent or otherwise deemed ‘undesirable’ were pressured to relocate.

Giuliani has since been criticized by many, saying he was too aggressive, targeting the working class and resulting in the “Disneyfication” of the character of Times Square. Indeed, much of the changes that began occurring were due to the actions of the Walt Disney Company. They had purchased the New Amsterdam Theatre, and wanted to play a starring role in forming the “new” Times Square. Part of a contract with Disney thus required city and state officials to evict any pornographic theaters and businesses left, contracting instead with Madame Tussauds and AMC Theatres to move onto 42nd Street. This was a strategic play, as it ignited the construction of new office towers, hotels, and tourist attractions in and around Times Square.

The 2000s to Present

At the intersection of Broadway and 42nd Street, all four corners host towering developments that opened by the early 2000’s. The city experienced a change after 9/11 in 2001, and security in Times Square doubled, with over 7,000 officers on duty in the following months. Between 2000 and 2015, visitors to Times Square increased by 22.1 million. In February of 2009, Mayor Michael Bloomberg closed off part of Broadway from 42nd Street to 47th Street and Herald Square from 33rd Street to 35th Street to motorized traffic, for a trial period to see how it would work “at least to the end of the year.”

The pedestrian-only sections made sense, and the project to make it permanent, building a pedestrian plaza, moved forward exactly one year later, in February of 2010. This, too, has contributed to the successful reimagining and revitalization of Times Square. In 2011, Times Square became smoke-free. Today, popular attractions include ABC’s Times Square Studios, where Good Morning America is filmed live each day, Planet Hollywood Restaurant and Bar, and Hard Rock Cafe Times Square. Other notable establishments are the Bubba Gump Shrimp Company for seafood and Carmine’s for Italian food, among others. And of course, the Broadway shows!

Pedestrian Plaza

The permanent restructuring of the Broadway area to a complete pedestrian plaza was not finished until New Year’s Eve 2016. Safety bollards had been installed to prevent vehicular attacks (yet in 2017, a vehicle ramming took place that killed one person and injured 20 others). Presently, the pedestrian plaza has become known for topless women with only paint on their breasts called “desnudas,” as well as costumed street performers who work for tips in designated areas. Panhandlers are attracted to the plaza, although if seen by authorities will be asked to leave the area. It is a 5-block radius of fascinating characters of all varieties imaginable—a large part of the attraction for tourists is the amazing and unique cast of ever-changing, outrageous personalities.

Back, Revitalized, and Better Than Before

Today, despite a wobbly start post-covid, Times Square is back: It’s every bit the exciting, iconic place its reputation proclaims it to be, where you can safely bring your family.

Real estate in the neighborhood of Times Square is expensive, as this is the heart of the Theater District. Life here is definitely in the fast lane, and the median income in this zip code is $94,477. If the idea of living at the pulse of America itself thrills you, Times Square and the Theater District are where you should look for an apartment or in buildings like the Orion.

See You at the Crossroads

On New Year’s Eve this year, plan to come share the “new” Times Square with us! Watch the iconic ball drop and see the live entertainment right before your eyes. Countdown the seconds to midnight with the millions of people watching on television, all while taking in the unique sights and participating in the perpetually entertaining sport of people-watching. Meet your favorite Disney character, get their autograph and snap a picture. Stay at a hotel room at TSX Broadway, where the rooms have glass walls and face the Times Square plaza. The historic Palace Theatre is also now located smack-dab in the middle of TSX’s amazing new project, so you can catch a show while you’re there. See the “Crossroads of the World” in person, and choose your path forward—New York City welcomes you!

The post Times Square – Then and Now appeared first on CitySignal.

Miami, Florida

Most recently, decommissioned cruise ships have been looked at as a possible temporary solution to Miami’s affordable housing crisis. The COVID-19 pandemic almost destroyed the cruise and travel industry, with even large companies like Carnival taking a huge hit. Architectural designer Abe Desooky, from CallisonRTKL, conducted a housing solutions study of 362 Miamians.

The respondents answered questions that helped inform the design of a conceptual ship, such as where they preferred natural lighting, and whether they’d be open to living on the water. Desooky’s design even includes some amenities for 900 one-person units, which he estimates would cost tenants $1,250 per month. For now, the idea is just a study, though his findings could help inform a possible solution in the future. His study also shows 53% of Miamians are spending more than 30% of their income on housing, and we know from our own coverage just how expensive the housing market is in Miami.

According to Norada, the Miami-Dade County area housing market is still on fire, and showing no chance of slowing, despite interest rate hikes and inflation. In April 2022, Miami reported the 7th highest total home sales month in history. The median price of a single family home increased by almost 10%, to $565K, making the 125th month straight that prices have increased—the longest streak ever recorded. Condo prices have climbed at an even steeper rate, increasing by 20%, to $390K. The same article states their housing affordability crisis is getting much worse.

Cruise Criticism in Portland, Maine

In 2018, Kenneth A. Capron applied for a grant to fund a study on providing much-needed affordable housing by utilizing an old cruise ship. Capron runs a nonprofit in Portland, Maine, that provides support to elderly people with dementia. He wanted to study the cost of the ship and renovations, and whether it would be better suited for mixed-income, low-income, or homeless people. He also wanted to determine a selection of for-profit offerings that could potentially subsidize the tenancy of any homeless and low-income people who lived there.

Capron also wanted to include on-board transitional services like medical staff, job training and drug counseling. He stated that for the homeless, it should be a transitional place rather than a permanent solution, as the waiting list for low-income housing was 1,123 people deep, at the time.

Former San Francisco Mayor Art Agnos weighed in on the concept, enthusiastically endorsing Capron’s idea. Agnos had some experience using boats as housing after the 1989 Loma Prieta earthquake, when the USS Peleliu was loaned to the city to temporarily house hundreds of people who lost their homes in the quake.

Despite the Mayor’s endorsement, Capron still faced criticism. For example, a USC professor thought it would be “too hard to get homeless people to do that,” because they would want a more “normal” situation. Someone else stated the ships could “exacerbate viruses, bacterial infections and communicable diseases already festering on America’s streets.” Another critic said that “living apart, afloat and in potential squalor would really only solve the homeless problem for people who have to look at it.”

The article went on to say that “Ships have a dark and somewhat frightening history of being used to sequester and house people, including inmates and prisoners of war.” There’s truth to that—considering this happened in NYC years ago, due to overcrowding at Rikers prison.

Proposals in Oakland, California

At the end of 2019, Oakland, CA, made headlines for its consideration of old cruise ships as a partial solution for the homelessness crisis there. City Councilmember Rebecca Kaplan broached the subject of using cruise ships to help house up to 1,000 homeless people. Kaplan made the point that ships have been used in cases of emergencies before, and they’ve been largely successful. She cited their use during the Olympics, after Hurricane Katrina, and after the Loma Prieta earthquake in San Francisco. At the time, Oakland’s homeless population had risen by 47% since 2017, prompting Kaplan’s suggestion.

But again, the naysayers expressed extreme skepticism, with the Port of Oakland calling it “untenable” and unnamed cruise industry experts saying the idea is great, but it would be a “logistical nightmare to execute.” A professor was quoted as saying, “because people see cruise ships as a luxury, it would give off the appearance of housing the homeless in accommodations like a Marriott or Hilton.” Vance Gulliksen, a spokesperson for Carnival, said “We are not in a position to entertain this idea.”

Kaplan did receive an outpouring of support after presenting her proposal, and was planning to unveil a plan to the City Council in 2020. She was inspired by the Queen Mary in Long Beach, a cruise ship hotel, but instead of luxury suites, the ship would contain affordable housing. She claimed the plan would be little to no cost to the city, “because the payment for the rooms would depend on resident income,” and that the city would not be purchasing the cruise ship outright.

But the Port of Oakland would have to approve the plan, and Port spokesman Mike Zampa was not inclined, saying “We respect President Kaplan’s desire to address homelessness, but Port of Oakland docks are designed to work cargo ships, there isn’t the infrastructure to berth a cruise ship.”

Cruise Ship Housing Potential in New York City

Cruise ship living is actually not a new idea for the Big Apple. In 2002, Mayor Bloomberg’s officials flew to the Bahamas to look at old cruise ships and determine if they would be suitable to house some of the homeless population in NYC. Patrick Markee, senior policy analyst with the Coalition for the Homeless, weighed in at that time, stating: “I thought I’d heard it all… I think most New Yorkers will hear this latest idea and say to themselves, ‘There’s got to be a better way than using cruise ships,’ and of course there is.”

The article went on to say that NYC had attempted something similar even earlier, in the early 1990s. Homeless people by the thousands were put on little-used jail barges on the East River, until the plan got shut down by the courts as an “inappropriate site.” The Homeless Services Commissioner at the time, Linda Gibbs, defended the idea, saying “I think we have to be unafraid to think creatively and to explore options that maybe haven’t been looked at in the past.”

Storylines Cruise Ships to Launch Residential Community

In January of this year, the cruise company Storylines announced a “residential community at sea,” offering a more affordable opportunity for people to live permanently—or for an extended period of time—on a cruise ship. They stated that in 2024, they will be launching fully furnished 1 to 4 bedroom residences, studios and 2-story penthouses priced between $400K and $8 million. There will also be a limited number of either 12 or 24 month leases available. Tenants will also need to pay an annual fee that covers food and maintenance, which will vary from $65K to $200K per year, depending on the size of the unit.

Alister Punton, the founder and CEO of Storylines, says there are 547 units on board that have already begun selling, and they expect to sell out by the end of this year. The new ship, christened the MV Narrative, will take requests from owners on where to go next, spending an average of 3-5 days at each port. The Narrative will feature 20 dining concepts and bars, a microbrewery, and three swimming pools, as well as a 10,000-book library, a movie theater, a state-of-the art wellness center, a bowling alley and a solar powered hydroponic garden farm.

The ship will also offer education programs and spaces for children, a team of medical staff, including doctors, a pharmacy, and a post office. The Narrative is currently still under construction in Croatia, but its 1,000-day maiden voyage across 6 continents is scheduled for late 2024.

Housing Affordability Crisis Needs Creative Thinking

With the homeless population here in New York City at an all-time high and the affordability crisis growing worse every day, innovative ideas that push the boundaries are welcome. Due to the lack of demand for cruising, there is a growing number of old cruise ships that would otherwise be disassembled. Whether these cruise ships could realistically be a part of an affordable housing solution still remains unanswered, as no city has successfully put it into action (yet!). Will NYC be the first major US city to do so? We’ll be watching.

The post Cruise Ships as Affordable Housing?  appeared first on CitySignal.

Before the Plaza Hotel, Hardenbergh Designed the Dakota

The Dakota is impressive in its scale and grandeur, and even the smallest architectural details are compelling. Designed by renowned architect Henry Janeway Hardenbergh for businessman Edward Cabot Clark, the two men formed a lucrative partnership while shaping and developing the Upper West Side. Hardenbergh was well known for quality, and later designed the Plaza Hotel, the Textile Building, the Whitehall Building, the Hotel Martinique and the American Fine Arts Society, to name just a few that are still standing today. 

Early Development of the Upper West Side

In the 1880s, New York City was still under-developed, but the creation of the Big Apple was well underway. The Windermere was another large apartment building built about a year prior, but in Hell’s Kitchen. There were no cars on the streets of NYC, and people got around by horse and carriage. Electricity was still new, and telephones had recently been introduced. Central Park had just been created in the 1860s, spurring development of the Upper East Side. Large, luxury apartment buildings were brand new as well, though others existed. People, for the most part, still associated apartments with tenement-style living. However, the city was quickly developing into a bustling metropolis.

Edward Clark saw potential for the Upper West Side, even though people thought he was crazy for wanting to develop there. Clark had been a lawyer for quite a few years, enjoying success and prestige in NYC. He developed a knack for spotting opportunities—he had helped patent the Singer sewing machine—and he saw something in the UWS. 

Forming a partnership with Hardenbergh, Clark bought several plots of land in the area. In a speech to the West Side Association, Clark spoke of his vision for the Dakota: “There are but few persons who are princely enough to wish to occupy an entire palace… but I believe there are many who would like to occupy a portion of a great building.” He spoke to skeptics who believed his dream was destined to fail. They even gave his project a name; “Clark’s Folly.”

A Glowing Description in the Times

On October 22, 1884, the New York Times printed a comprehensive description of the Dakota, which is now one of the only records of detail (for the interior, especially) from the original presentation of the building. The article, titled “A Description of One of the Most Perfect Apartment Houses in the World,” describes the Dakota as such:

“The first floor contains the dining rooms, which are finished in a perfect manner. In this case, these words really mean something. The floors are of marble and inlaid. The base of the walls is of English quartered oak, carved by hand. The upper portions are finished in bronze bas-relief work, and the ceilings are also quartered oak, beautifully carved. The effect is that of an old English baronial hall, with the dingy massiveness brightened and freshened without losing any of its richness. The effect is heightened by a large Scotch brownstone engraved fireplace, which ornaments the centre [sic] of the room.”

Clark spared no expense in outfitting and adorning the Dakota. It was reported that Clark spent $25,000 on each apartment. His original plans from 1880 slated one million dollars as the estimated cost for the Dakota, but it was likely far more. In 1880, $1 million dollars was equal to over $29 million dollars today. 

The Architecture of the Dakota Apartment Building

Exterior Design 

The building’s exterior is noted for its deep roofs, a profusion of dormers, terracotta spandrels and panels, niches, balconies and balustrades. It has design influences by several different styles, but is classified as Renaissance Revival and English Victorian. The main entrance is on 72nd Street, and is a double-height archway that leads to the courtyard. But first, inside the archway is a vestibule with metal gates on either side of it, likened to a fortress. A security guard’s booth to the west of the entrance ensures that only residents and their guests gain entry. Above the 72nd Street side of the Dakota are projecting turrets that extend the full height of the facade. Dormer windows alternate between stone and copper frames. Most of the exterior is buff colored brick, but one side is red brick. The overall impression is that of a huge, regal castle inside a fortress. 

The Courtyards

The Dakota is built around a central courtyard through which all of the apartments are accessed. There are four passageways to the four quadrants of the building, located in each corner of the courtyard. Each quadrant had its own service elevator and stairwell for residents, and separate service elevators and stairwells for servants. Along the western side of the main courtyard is the service driveway, which leads to the basement. There, you’d find the lower courtyard, same size and layout as the main courtyard at ground level, above it. Deliveries were made here, and garbage and supplies were stored here. This was the way all servants entered and exited the property. 

“Poor Doors” for Servants 

The Dakota may have been one of the first luxury apartment buildings that had multiple built-in “poor doors.” Every unit included servants’ quarters, along with their own entrance and exit, even their own common areas within the building. In addition to the building’s original live-in staff (no less than 150, according to the New York Times), each household was permitted to have up to 5 of their own servants live and work in the building. 

Structural Features 

Interestingly, the Dakota was designed from the beginning to be a fireproof building, and it has stood the test of time. The foundation walls are made of bluestone blocks, extended up to 18-feet deep and 4-feet thick, while perimeter walls are tapered from 28-inches thick at the first story to 16-inches thick above the sixth story. The building boasts 9-inch thick earthen subfloors, on top of 9-inch thick concrete slabs. Partitions in hallways and other parts of the building were made from fireproof blocks or brick. Not only did all of this superstructure’s cladding prevent it from catching fire, but also made the building strong, well insulated, and the apartments were soundproof.

A Self-Powered Building

Clark also had an artesian well excavated for the supply of water to the residents. Not only that, but he wanted the building to be self-powering. A veritable land unto its own, that would be capable of sustaining itself even in a power outage, water supply shortage and many other features. Even though electricity was still new, the Dakota had 300 electric bells and 4,000 electric lights. There was a garden located to the west of the building, where the Mayfair now sits. When the Dakota was built, the garden also contained a tennis court and a croquet court.

Interior Design 

The building is separated into four main quadrants, each of which are accessed through the four corners of the main courtyard. After entering each quadrant’s passageway, you would then enter a space with wood paneling and marble wainscoting. There are stairs on one side, and an elevator on the other. The staircase was made of wrought-bronze with marble treads. There was also a service elevator that led to the apartments’ kitchens, and a regular iron staircase, for servants. If you took the elevator, you were riding in style—these were top-of-the-line, Otis manufactured, mahogany-finished, and complete with an electric bell. 

Common Spaces in the Dakota Apartments

Common spaces included a main dining room, where residents could choose to eat dinner at a specified time for a fixed price, or they had the option of ordering food from the kitchen. The building was outfitted with an electric intercom system, so anything could be communicated to the management with the touch of a button. There was also a private dining room, ladies’ reception room, ballroom, florist, telegraph office, barber, servants’ quarters, laundry rooms, dryer rooms, and a playroom and gymnasium on the roof. In addition, there was a large, heated and lit storage room that tenants could use for free. There was a wine cellar and staff quarters in the basement, which even included a reading and smoking room—restricted to men only.

The Apartments in the Dakota Building

Each apartment had a unique design and floor plan, some with as many as 20 rooms. Individuals were catered to in floor plan design and size as it was still being constructed, and unfortunately, the original drawings were lost. Apartments facing Central Park to the east typically had a reception area, a drawing room, a library, a pantry, a dining room, a kitchen, a bath, four bedrooms, one full bathroom, and maid’s quarters. The parquet floors were inlaid with mahogany, oak and cherry. Reception rooms, libraries and dining rooms were wainscoted in oak, mahogany and other rich woods. Kitchens were wainscoted in marble and had Minton tile flooring. Bathrooms had porcelain bathtubs. There were wood burning fireplaces with tiled hearths and carved mantels.

After Eighty Years, the Clark Family Sold the Dakota

In April of 1884, it was announced the Dakota would be ready for occupancy in October, with rent ranging from $1,500 to $5,000 per year. At that time, one-quarter of the units had already been spoken for, and by the time it opened, it was fully rented. Edward Clark died halfway through the build, which incidentally was where he was designing his own residence, but he bequeathed the Dakota to his eldest grandson (only 12 years old at the time), thus it stayed in the family. And for the next eight decades, the Dakota remained in the Clark family. Nothing much changed in all those years. 

Then in 1961, the Clark family sold the Dakota and the plot of land behind it to Louis J. Glickman, a developer. The tenants were able to collectively buy the Dakota from Mr. Glickman, creating the co-op it is today. 

The Co-op Board of the Dakota

NYC is known for its particular and exclusive co-op boards, as well as some of their rigid rules. There are a few strict rules we know of at the Dakota, and many of them involve protecting the original fireplaces. First, residents cannot throw away any original fireplace mantels they remove. They are also only permitted to use firewood provided to them by the building. They cannot remove any original front doors or chimneys without permission, either. Additionally, chauffeurs are not permitted to loiter or distract the doormen in any way. Residents must even take any luggage or furniture through the service entrance. 

Notoriously exclusive, the Dakota board has famously snubbed many celebrities. Allegedly, some of the celebrities who didn’t make the grade include Melanie Griffith, Antonio Banderas, Madonna, Cher, Billy Joel, Carly Simon, and Alex Rodriguez. 

The Famous Residents 

Of course, there are also many celebrities that have called the Dakota home. From the beginning, some of the first famous residents were the Steinways–the infamous piano makers. After that, multiple big names began to seek residence there. Lauren Bacall was one of the most famous early residents, and who loved her Dakota apartment so much, she lived there for over 53 years of her life. She bought the apartment in 1961 for around $48K, and after her death, her apartment sold for $21 million in 2015. Other notable residents have included Roberta Flack, Jack Palance, Boris Karloff, Maury Povich and Connie Chung, Judy Garland, and Gilda Radner. Though she didn’t live there, Marilyn Monroe did a photoshoot in actress Judy Holliday’s apartment. But arguably the most famous of all were John Lennon and Yoko Ono, as well as their son Sean as an adult.

The Multiple Ghosts at the Dakota 

Deemed one of NYC’s most haunted buildings, Frederick and Suzanne Steinway apparently told friends and family they had very disturbing paranormal activity going on at the Dakota. According to the Ranker article, Frederick came home one day to find a new, brightly lit chandelier in their apartment. Thinking it slightly odd, he went closer to inspect it and it disappeared before his eyes. However, the bolts holding the ghostly chandelier remained behind, perplexing him further. This was not the only experience the couple had. They reportedly heard and saw many paranormal things while living at the Dakota. 

Back in the 1960s, many construction workers doing renovations there reported seeing the ghost of a little girl in the corridors. She was described as having long blonde hair and wearing a bright yellow dress from the 1800s, skipping along and bouncing a red ball. She is believed to be a friendly ghost, and smiles at anyone who makes eye contact with her. Another lady reported seeing the girl in the lobby, who walked across the room and through a door on the other side. The woman was curious about the girl, and went to the door and opened it–only to find an empty closet. 

Elise Vesley was the property manager at the Dakota from the 30s to the 50s, and while there, she suffered immense pain over the loss of her son, who was killed outside the building by a passing truck. She is believed to be “the crying lady ghost” seen by many witnesses roaming the hallways and crying, including John Lennon. Additionally, John Lennon’s ghost has been seen by many, in the spot where he was shot near the archway entrance, as well as by Yoko in their apartment, playing the piano.

Earning Landmark Status

In 1969 the Dakota became a New York City Landmark, and in 1976 it became a National Historic Landmark. If Mr. Edward C. Clark could see the Dakota today, and witness the impressive legacy he left behind with it, he would be proud beyond measure.

Currently, there are 3 active listings in the building ranging from $4.5 million to $20 million, but that’s of course if you can pass the co-op interview.

featured image of The Dakota from Central Park West: Some rights reserved by ajay_suresh

The post The Story of the Dakota Apartment Building appeared first on CitySignal.

Background History of Warren Buffett

Warren Buffett is one of the most famous wealth managers and investors in the world, best known for his company, Berkshire Hathaway. He is still actively serving as Chairman and CEO at 91, and Munger remains his partner at 98. It’s easy to see why; these two men have strong values and strategies that have helped them earn enormous wealth. They both credit their success to adhering to principles that are rarely spoken of in business, and had wonderful examples in their fathers.

Buffett is a financial wizard who invested for the first time at just 11 years old, and filed taxes for the first time at 13. His business started out as Buffett Partnership Ltd. in 1956, but he acquired a textile manufacturing company called Berkshire Hathaway and adopted the name to create a diversified holding company; one he has grown into the largest financial services company by revenue in the world. The companies owned by Berkshire Hathaway today are far too numerous to list in this article, but include big names like Duracell, Geico, Dairy Queen, Helzberg Diamonds, and Fruit of the Loom. The complete, ever-changing list of Berkshire Hathaway holdings is best visualized using the HedgeFollow tracking tool.

Warren Buffett’s Business Advice

So what’s his secret? He said in the interview it was due to having a deeply virtuous father, who instilled these qualities in him as a young man. Charlie Munger, his business partner of more than 60 years now, said the exact same thing about his own father. They took these qualities and applied them to their business leadership. Buffett says he looks for 3 qualities in hiring people: integrity, intelligence and energy—and advises college students one main piece of advice: Do what you love. Take the job you would want if you were independently wealthy, were his exact words. He also mentions another important quality is emotional stability. But when asked how they could tell if someone was a “fit,” they do it just like anyone else—with a gut instinct.

Buffet has a good sense of humor, as well, and says they have a decentralized philosophy at their headquarters in Omaha, where both men are from. He insists they’ve built an entirely unorthodox business model around the idea of minimal management and maximum trust in individual staff. Buffett is a believer in a long-term “value investing” style. But the true value here is the man himself. He is a man of substance and virtue, and knows the value of those virtues in others. He talks about having the luxury of being able to discern those outstanding individuals, choosing them as his only associates. Buffett is asked what he values most, and answers in part, “unconditional love.” What does he loathe? “Shady” people, and complacency—laziness or boredom. Especially in business. Buffett studies failures, and remembers mistakes and learns everything he can from them.

Warren Buffett’s Real Estate Portfolio

Buffett’s businesses include a real estate service, Berkshire Hathaway Home Services, that provides home valuations and other market data. Included in this division is a home-finding service for luxury homes, vacation homes and investment properties. Buffett is known for his interest in dedicating his time and money into quality investments with proven value over time, and his investment style has proven to have worked for him in a big way. Despite being one of the top 10 richest people in the world, he doesn’t even use a computer at work—he says he has no use for one. Just a telephone works fine for his purposes, he says.

This is Warren Buffett’s house, located in Omaha, Nebraska. For a multi-billionaire, he lives extremely modestly. In keeping with his no-frills approach when it comes to computers, he’s a man of consistency—he lives in the same way he has for decades and doesn’t try to fix anything that’s not broken. This is the house he bought in 1958, for $31,500. Today, it’s valued at $652K+. The house is 6,570 ft² and has 5 bedrooms and 2.5 bathrooms. There is a security gate and cameras around the property. Unlike many billionaires, Buffett does not have an extensive real estate portfolio, and when asked about his modest lifestyle, he simply smiles and says, “I’m happy. Why would I want to change anything?”

The post Does Warren Buffett Have a Real Estate Portfolio? appeared first on CitySignal.

The Upper West Side

Jerry Seinfeld

Jerry Seinfeld lives at the ultra-luxe Beresford building, not too far from the apartment used for the set of his show, Seinfeld. The Beresford is located at 211 Central Park West on the Upper West Side, and has been home to many celebrities over the years. The building was converted to a co-op in 1962.

According to RealtyHop, it has massive ballroom-size rooms with 10’ ceilings, wood-burning fireplaces, terraces, and much more, including white-glove service for tenants and 24-hour doorman. Jerry Seinfeld has always loved New York and is performing in 2022 at the Beacon Theatre.

Denzel Washington

Denzel Washington is one of the most famous celebrities in NYC, and he resides at 15 Central Park West on the Upper West Side. Nicknamed the “Tower of Power” for its many notable residents, 15 Central Park West consists of the “house” which is 19 stories and contains 68 apartments, and the “tower” which is 35 stories and contains 134 apartments. Robert De Niro, Mark Wahlberg, Sting, and Kelsey Grammer have lived here, among others. Amenities here include a private dining room, library, screening room, wine cellars, health club and pool. Mr. Washington purchased his 3,000 ft² apartment in 2006 for $13 million. Sting purchased his in 2008 for $26.5 million, then sold it in 2017 for $50 million dollars. Another apartment at this address sold for a record $88 million in 2011.

Steven Spielberg

Another epic name, Steven Spielberg, has an apartment at the infamous San Remo building, located at 145 – 146 Central Park West. The San Remo is a prestigious co-op designed by renowned architect Emery Roth, who also did the El Dorado. Spielberg’s spread is on the 16th floor and measures 6,000 ft², featuring direct views of Central Park. Some other notable residents at the San Remo have included Barry Manilow, Dustin Hoffman, Demi Moore, Steve Martin, Diane Keaton, and Bruce Willis.

Howard Stern

The icon Howard Stern lives in the Millennium Tower near Lincoln Center on the UWS in Manhattan. Stern owns a 2-floor penthouse made up of 5 condos he purchased over the course of a decade for a total of $21 million dollars. This is his primary residence, and totals 8,000 square feet, encompassing the entire 53rd and 54th floor of the building. Stern first purchased all 3 condos on the 54th floor in 1998 for $6 million, and then in 2008, he purchased the 2 condos on the 53rd floor for $15 million.

The star also owns a home in the Hamptons, where he spent a lot of time during the coronavirus. The 8 bedroom, 12 bathroom Southampton waterfront mansion sits on well over 4 acres, and is over 15,000 square feet. The bedroom alone is 1,500 square feet, and the home features a bowling alley, a wine cellar and tasting room, a pool, a cabana and a spa. The luxurious residence was bought in 2005 for $20 million.

Midtown Manhattan

Sting

Music icon Sting, who sold his apartment at 15 Central Park West in 2017, finally closed on his purchase of an apartment at 220 Central Park South in 2019—after 3 years of negotiations. The musician and his wife shelled out $65.7 million dollars for this legendary address. This building boasts the most expensive residential real estate deal in the world, which happened last year, when hedge fund mogul Ken Griffin purchased an apartment for $238 million dollars. Ever since then, the address has been extra hot. The building, unsurprisingly, sits on Billionaire’s Row. The property also boasts the second most expensive real estate purchase, a penthouse on the 73rd floor that was bought for $188 million in January 2022.

Katie Holmes

Although Katie Holmes and her daughter Suri Cruise were living in Chelsea, it’s rumored that the pair moved to Midtown. The actress is notoriously private and is known for avoiding the paparazzi. Holmes moved her daughter to NYC after her divorce from Cruise, preferring to raise Suri in the Big Apple where things are more their vibe. It’s pretty amazing that we know so little about where these two elusive ladies live, especially given the publicity buzz around Tom Cruises’ career resurgence with the success of Top Gun: Maverick.

Tribeca

Mariah Carey

One of the most notable stars in TriBeCa is Mariah Carey, who lives in a penthouse in the Franklin Tower at 90 Franklin Street. The 17-story Art Deco building started out as a bank in 1929, and now is an exclusive condominium tower with 25 luxury lofts. Amenities include a 24-hour concierge, roof deck, terrace, fitness room and all the luxury and privacy you would expect from an upper class establishment. Carey purchased the penthouse in 1999 for over $9 million, and the home has 5,600 ft² with 4 bedrooms and 4.5 bathrooms. It also features an aquarium, a screening room, marble countertops, and gold faucets.

Taylor Swift

Speaking of Franklin Street, Taylor Swift has been swiftly buying up property in Tribeca over the last several years, most of it at 155 Franklin Street in the Sugar Loaf Building. The star owns a duplex penthouse and half of the second floor. The two top floor units were combined in one purchase for $19.95 million in 2014, and together make the sprawling 8,000 ft² residence nice and spacious.

In 2018, Swift purchased a second-floor apartment measuring 3,540 ft² for $9.75 million. And if all of that isn’t enough, Swift also owns a townhouse next door she paid $18 million for that came with its own gym and spa. This pop star seems to have an affinity for Tribeca, though her $80 million real estate portfolio spans several states.

Midtown East

Uma Thurman

Another huge star, Uma Thurman, lives at the River House at 435 East 52nd Street. The River House is a historically exclusive co-op with a board that famously turned down celebrities like Gloria Vanderbilt, Richard Nixon, Diane Keaton, and Joan Crawford. Apparently, that was the old board, however, and the new board is purported to be more welcoming. The River House also includes membership to a prestigious club that includes a pool, tennis and squash courts, golf simulator, dining room, and guest bedrooms.

NoHo

Gigi Hadid

In NoHo, supermodel Gigi Hadid lives at 10 Bond Street, where she owns 2 units, one of which is the only townhouse at the address. Gigi Hadid paid $4 million and $5.82 million for the two units, in 2015 and 2018, respectively. The first unit is two bedrooms while the second is a three-bedroom duplex with a 770-square-foot outdoor terrace. The building, designed by Selldorf Architects, contains 11 residences with interiors designed by Annabelle Selldorf. It features 10-foot ceilings, garden terraces, Douglas Fir hardwood floors, mahogany window sills, Italian millwork, marble slab counters, and top-of-the-line appliances.

SoHo

Bella Hadid

It was reported Gigi’s sister, Bella Hadid, purchased a SoHo penthouse at 63 Greene Street in late 2019. The unit is 2,180 square feet, two bedrooms, and two bathrooms, and she paid $6.1 million for the renovated unit. This SoHo building is 145 years old and located in the Cast Iron Historic District. The building wasn’t converted to condos until 2016, and has smart features, custom lighting, motorized blackout shades in the bedrooms, built-in closets, and a 100-bottle custom backlit wine room.

Other Notorious Places for Celebrity Sightings in NYC

There are a few other hotspots where spotting someone famous is nearly guaranteed if you hang out long enough. NYC, being the heart of the television entertainment industry, has many studios where legendary shows are recorded day and night. Actors and famous personalities have to take lunch breaks during work, too—and you might also be lucky enough to spot them at one of these notable restaurants.

Rockefeller Center

At 30 Rockefeller Plaza, SNL and The Tonight Show with Jimmy Fallon are recorded, and celebrities guest-starring on the show are often seen entering or exiting the building. Additionally, The Today Show is taped on the corner of 49th and Rockefeller Center overlooking Rockefeller plaza, and every weekday, fans accumulate by the studio hoping to get a front row seat and be on TV.

Rao’s Restaurant

If you want the most exclusive restaurant in NYC, where stars like Leonardo DiCaprio, Jay-Z, and Hilary Clinton have been spotted, in East Harlem, you’ll find Rao’s. Located at 455 East 114th Street, don’t think you’ll ever be able to get a table—sorry, but the iconic restaurant has just 10 tables, and they’ve been reserved for years by the elite. To get a table here, it’s all about who you know. Chef and owner Frank Pelligrini, Jr. leads the family business after over 125 years of restaurant service for the ultra-wealthy. If you watch the corner restaurant long enough, you should be rewarded.

The Polo Bar

Ralph Lauren’s The Polo Bar in Midtown, located at 1 East 55th Street, is a hotspot for big-name celebrities like Jerry Seinfeld, Gwyneth Paltrow, and Barbra Streisand. The food is great here, along with the ambiance. The menu as well as the decor in this space is inspired by Ralph Lauren, and the impeccable service does not disappoint. Reservations must be made far in advance, so start planning now.

 

View this post on Instagram

 

A post shared by Bemelmans Bar (@bemelmansbar)

 The Carlyle

This place has all the elements of being one of the best celebrity hotspots in the city that never sleeps. Not only is The Carlyle considered one of the nicest 4-star hotels for its accommodations, but it also contains Bemelmans Bar, where you could potentially spot celebrities like Paul McCartney and Lady Gaga sipping cocktails any night. Additionally, Café Carlyle’s Cabaret features star musicians playing jazz on Mondays—tickets to these performances go fast.

Use this guide to help you on your celebrity spotting adventure in NYC. Good luck, and remember above all to be courteous and kind if you do bump into a celebrity—they’re real people, too.

The post Top Celebrity Hotspots and Homes in New York City appeared first on CitySignal.