Category: Owners Developers & Managers

Brooklyn, NY According to Fortis Property Group, closings have commenced at Olympia Dumbo, the borough’s most anticipated new luxury condominium building. Located on the waterfront, Olympia is a contribution to the skyline and symbol of Dumbo’s evolution into one of the borough’s most premium neighborhoods.

Manhattan, NY FirstService Residential has promoted David Valente and Mark Pepe to senior vice president in the firm’s condo/co-op property management division. In their new roles, Valente and Pepe will each have executive oversight of a portfolio of condominium and cooperative properties and teams of dedicated property managers and assistant property managers who specialize in providing service to board members and residents in some of the city’s residential buildings.

Manhattan, NY One Wall St., the art deco skyscraper which led the financial district’s transformation into a world-class residential neighborhood, has completed one of the largest office-to-residential conversion in New York City history. The 1.25m s/f landmark comprising of 1m s/f of residential and 250,000 s/f of commercial amenities and interiors celebrates this major milestone by unveiling the building, with immediate move-ins and closings for residents.

Manhattan, NY FirstService Residential has been appointed manager for One United Nations Park, an ultra-luxury residential tower in the Murray Hill neighborhood.The property at 685 First Ave. comprises a mix of 148 jewel box condominiums, 408 rental units, more than 15,000 s/f of amenities, and a ground floor retail component.

Chelsea, NY Woman-owned leading real estate company MAG Partners has launched the leasing at Ruby, a residential development located at 243 West 28^th St. Located across the street from the Fashion Institute of Technology (FIT) between Seventh and Eighth Ave., within New York City’s Garment District, Ruby offers 480 studio to three-bedroom residences amongst two towers - 30% of which are reserved for affordable housing - in addition to 8,500 s/f of ground-floor retail space.

Plainview, NY Rechler Equity Partners reinforced itself as a driving force of Long Island’s economy in 2022 with a 98.5% occupancy rate. This includes 524,000 s/f of new lease agreements and 271,000 s/f of lease renewals that occurred last year. These strong numbers are the continuation of a trend of high demand for industrial space as Rechler Equity is set to begin work on an over-840,000 s/f industrial park in Medford in 2023.

New York, NY FirstService Residential’s portoflio is showing average monthly savings of up to $10,000 – or 6% in electricity costs – for participating condominiums and cooperatives in its management portfolio subscribed to a Community Distributed Generation (CDG) project. The monthly savings directly offset electric delivery charges, which are credited back to each building’s Con Edison bill.

NEW YORK, NY Serendipity Labs, the leading international flexible office space provider, has entered into a 10-year operating agreement with The Durst Organization (“Durst”) to operate a 41,000 s/f flexible office facility within Durst’s 205 East 42^nd building, a 532,000 s/f office building located one block from Grand Central Terminal.

Bronx, NY In response to the growing social and legislative pressure to decarbonize New York’s aging building stock, Manhattan College has completed the electrification of its oldest dormitory, Chrysostom Hall. Located at 45-25 Manhattan College Pkwy.

There are few things more valuable than good advice, but good advice for long-time real estate owner-operators can be hard to find. Professionals are incentivized to give a certain kind of advice: a long-time accountant or property service professional might lose the account if the owner sells.

New York, NY On March 16^th, Professional Women in Construction’s (PWC) Minority and/or Women-owned Business Enterprise (MWBE) Committee is hosting a meet and greet with Skanska to learn about Skanska’s subcontractor pipeline, MWBE hiring processes and engagement, and potential opportunities.