All Things New York City

Posts made in December, 2013

NYC Landmark: The Empire State Building

By on Dec 17, 2013 in Real Estate

In 1931, The Empire State Building was officially opened. At the time, the Empire State Building was owned by Anthony Malkin in addition to being the tallest building in the world. It remained the tallest for about forty years, and then was surpassed by others. The height of this building is not the only reason the Empire State Building is iconic. It is hard to believe that a building as magnificent as this one could have been built in 1931. 1931 was right in the middle of the Great Depression. Surprisingly enough the building was finished right on time, even with the project costing about fifty million dollars. The legacy of the men that built the Empire State Building also add to the iconic value of the building. These men were known as the “Sky Boys”. These men were known around the world for their courage, and confidence, as they built the Empire State Building. The building, and spirit of the building, will also have a place in the city of New York. There have been many renovations of the Empire State Building since it was built in 1931. In 1960 there was an acrylic ceiling that was installed. The ceiling was used as a cover for a ceiling mural and was also used to introduce fluorescent lighting to the lobby of the building. There were blueprints for two chandeliers to be installed over the second floor of the pedestrian bridges. These blueprints were found after the building of the building. It was approved to build these chandeliers using the blueprints. In the early 2000s a team set out to restore the mural that was created in the Empire State Building”s ceiling. The team used a collection of photographs, forensic analysis, plans that were made in the past, and architectural elements that currently existed to renovate the mural. The process of redoing the mural took about two years for the team to complete. The Empire State Building has made it’s mark in history by being a landmark where many events have taken place. Every year the Empire State Building is home to many weddings that take place on Valentine’s Day. Couples get married on the 80th floor of the...

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Names in NYC Real Estate

By on Dec 16, 2013 in Real Estate

Real estate can be a very profitable industry, especially in an area often referred to as “the greatest city in the world”. New York City is home to upscale neighborhoods such as Soho and Tribeca, some of the most expensive places to obtain property in the entire country. Needless to say, it takes powerful people to keep up with the busy world of New York City commercial realty. One of the leading companies is known as Related Group. This multi-award winning real estate firm is head by Stephen Ross, who founded it in 1972, along with Jeff Blau and Bruce Beal. The company’s assets include properties such as Time Warner Center, the Mandarin Oriental hotel in Manhattan, as well as many luxury residences, retail establishments, and restaurants. Related has trademarked the slogan “Five Star Living”, reflecting how they have redefined modern sophistication in NYC commercial real estate. Another one of the industry’s leading forces is Blackstone Group. It was founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman. Since that time, this private equity investment firm has grown to become one of the largest in the world today. Jonathan D. Gray, the senior managing director and global head of Blackstone, is acknowledged as the master mind behind the company’s huge success. Under his leadership, Blackstone bought eleven public real estate investment trusts valued at more than $100 billion. Island Capital Group LLC is a “leading international real estate merchant bank” also headquartered in New York City. The firm specializes in fund management, principal investment and financial advisory and consulting services. Founded in 2003 by Andrew Farkas Island Capital Group manages over 200 million square feet of commercial real estate space. One of the most active developers of real estate in New York City is Extell Development Company. They have been in the business since 1989, founded by Gary Barnett. Their portfolio of assets is inclusive of over 20 million square feet of commercial, residential, hospitality, retail, and mixed use properties. Today, Gary Barnett remains as president of his successful business. Extell Development has earned a widely known reputation for producing first class properties of the finest...

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