While AREW's March luncheon guest speaker MaryAnne Gilmartin executive vice president of Forest City Ratner Cos. (FCR) sees the world of development as being in a challenged space, she's personally going to be busy for a very long time. With Atlantic Yards scheduled for a building a year, she's looking at 15 years of development.
The current status: groundbreaking this year on building two, the first residential building, with Barclays Center scheduled for a 2012 opening. FCR's Beekman Tower (renamed 8 Spruce St.), the curvaceous Frank Gehry-designed residential tower in lower Manhattan (at 870 feet the tallest in the Western Hemisphere) is, however, ready for its close up. With an outstanding review by the New York Times' architectural critic, Gilmartin said interest is soaring, so much so that FCR is scheduling tours for the general public.
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability