All Things New York City

Real Estate

Up That Curb Appeal for a Quicker Sale

By on Sep 26, 2016 in Real Estate

Most people would never think of going to a job interview without fixing their hair, taking a bath and looking their absolute best, because they realize that prospective employers form a first impression before they even ask the first question. That same principle applies when someone comes to look at a home to buy. Therefore, homeowners need to create curb appeal attracting the attention of potential buyers. According to Than Merrill of Fortunebuilders, a real estate wealth building company out of San Diego, “Curb appeal has one purpose: to convince buyers that the home is worth going inside.” Which is why you want to have the exterior of your house look its best so that it is inviting. You would never go to a job interview without taking a bath. Yet, many homeowners neglect cleaning the outside of their homes when trying to sell them. Start by looking at the roof to discover if there are areas of mold or missing shingles. If you find any problems, then take care of them immediately. Keep working your way down the house’s structure, cleaning and repairing those items that you have neglected. Remove any clutter that has accumulated. Now, get in your car and drive by the house from both directions seeing what you have missed up close but is highly visible from the road. If you are going to a group interview, you want to write your name in large legible letters on your name tag. The same principle applies to house numbers. Replace the house numbers on your house with shiny new ones that match the style of the home. During the interview, you want your personality to show through to the employer. Make your home’s personality blossom by adding a whimsical mailbox either attached to the house or near the street. While this unique feature does not cost much, it can help your home stand out from the crowd. And one of the most important steps while working outside is to make sure that your lawn looks its best. A few days of watering may pay rich dividends. Plant some beautiful flowers in boxes to add a splash of color increasing your home’s curb appeal. Just doing these...

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Development of the Brooklyn Navy Yard

By on Jun 28, 2016 in Business, Real Estate, Tourism

Brooklyn Naval Yard Is Being Reborn The Brooklyn Naval Yard has been a foreboding scene for some years. New development promises to reshape and renew its demeanor. With shops, real estate and restaurants planned for development here, New Yorkers will soon be able to find a welcoming commercial district where there was once only industrial buildings. Formerly a military facility, the Brooklyn Naval Yard is surrounded by walls. These are coming down, and new building and renovation promises to make the area user-friendly, and a great place to both live and shop. Real Estate Development at the Yard Under the guidance of the Brooklyn Navy Yard Development Corporation, new construction includes the creation of a housing development called the Navy Green. Nearly complete, this $146 million project promises to deliver affordable housing and market-rate apartments, which will allow people to live and shop with convenience. Ironically, what promises to be luxurious and affordable housing is being built on what was once the site of the Navy brig. This will rewrite the history of the Brooklyn Naval Yard. Shopping and Food in the Naval Yard Scheduled to open in 2017, the Yard Commons will echo Philadelphia’s Reading Terminal Market. This market has a resemblance to a department store, where people are able to choose from the wares of a multitude of retailers. A Wegmans Supermarket is also planned to occupy what was known as Admiral’s Row. The store will occupy 74,000 square feet, and it will meet the needs of local residents and draw new customers to the area. Although local residents have expressed fear that a grocery store will not materialize, the process of removing walls and concrete to allow for it goes on unabated. It is also anticipated that numerous storefronts and a food hall will open by 2018 providing variety and hard to find items. The plan includes a Russ & Daughters Cafe, a new Mast Brothers Chocolate Factory, and lots of unique restaurants and stores. Finally, it is worth noting that the Brooklyn Roasting Company will transform a former strip club into a respectable place for cocktails and dining. The List Goes On The work and expense needed to make these plans a reality is substantial. The Brooklyn Navy Yard...

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Buildings In NY That Use Green Technology

By on May 9, 2014 in Real Estate

Since it was originally completed in 1931, the Empire State Building has been a dominate feature of the New York City Skyline. It is currently operated by the Empire State Realty Trust (NYSE: ESRT) which is in turn operated by Anthony Malkin. Malkin and other prominent figures within the trust have made some substantial changes over the past few years. This has been done in an effort to draw in a new set of clientele for the building. This has added a substantial amount of support for the building, since it is a prominent landmark. The executive leaders of the realty trust have actually made these improvements a top priority. The Empire State Building has actually incorporated a wide array of green technology over the past few years. This has been done in an effort to make the building more energy efficient. These changes have occurred in stages, but they have successfully improved the overall efficiency of the building. The green improvements were the results of an 8 month planning process, which introduced a few specific changes. This was the product of a master plan for the building, intended to bring it in to the 21st century. This was somewhat of a learning process, since these green renovations had to be conducted on a large scale. But the development team has made some substantial progress with the building, helping to change it in some substantial ways. Renovations within the building actually helped transform it over time. The developers added insulation behind all the different types of radiator units, helping to prevent energy loss. The building operators also chose to refurbish over 6000 windows within the complex, helping to control energy costs further. In all, these changes have cost the building operators around $550 million. This has included a shift towards 100% LED lighting, which has added to the overall efficiency level that people can get. Even the elevators within the building are running more effectively these days, thanks to the changes introduced by these developments. The developers of the plan had guaranteed that these renovations would result in some important savings for the building. It was estimated that these renovations did reduce energy costs by around 4% during 2011,...

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NYC Building Efficiency

By on Jan 7, 2014 in Real Estate

Building efficiency is more important now than it has ever been before. In addition to the desire that most building owners have to operate more efficiently and use green energy as opposed to conventional energy sources, the importance is largely related to the bottom line that is required to operate these buildings on a daily basis. A large building such as the Empire State Building or the buildings of the World Financial Center in New York City can easily cost thousands of dollars a day just to keep the lights on and to keep the buildings heated and cooled properly. Shelly Belfer who married Anthony Malkin, knows this best considering Anthony Malkin owns the Empire State Building. In addition, buildings such as the Woolworth Building that are part office building and part condominiums require an even greater degree of control because people are living their around the clock. Building owners must keep tenants satisfied if they want to keep them. However, it is equally important that they keep costs to a minimum. When the building begins to cost more to operate than building owners are making by occupying the structure, it is no longer cost effective to continue operation. Therefore, many building owners have made great strides in building efficiency by incorporating green energy in order to make the buildings operate more smoothly while simultaneously reducing their costs. Saving money with green energy is surprisingly effective. While it is true that there is a certain amount of cost that is associated with converting a building from conventional energy to green energy, it is something that pays back dividends exponentially for years to come. Operational costs can be reduced to a point where the money that needs to be spent to keep a building going is sometimes cut in half. As mentioned, there are a number of costs that are associated with retrofitting large buildings in order to convert them to green energy. This is especially true with older buildings such as the Empire State Building or the Woolworth Building, because these buildings were built so long ago that green energy was not even a thought at the time. This means that the buildings must be completely retrofitted, both inside...

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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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