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$22M Mixed-Use Development to Break Ground in Downtown Yonkers; Valuation Expert Steven Kurtz Joins Avison Young as Principal

$22M Mixed-Use Development to Break Ground in Downtown Yonkers; Valuation Expert Steven Kurtz Joins Avison Young as Principal

Development company Rising Development recently got the green light from the Yonkers Industrial Development Agency (YIDA) to go on with a $22 million project that would transform five properties in the downtown area into residential, retail and restaurant space. According to LoHud.com, YIDA has granted more than $500,000 in tax…

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Refurbished Double Tree by Hilton Hotels Opens in New York City

Refurbished Double Tree by Hilton Hotels Opens in New York City

Double Tree by Hilton recently inaugurated its newly revamped full-service hotel in New York City—an upscale property located on the corner of Lexington Avenue and 51st Street in the fashionable East Side. The iconic building, which was designed by architect Morris Lapidus as the Summit Hotel in 1960—in an unusual…

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Lighting Retrofit Completed at Ernst & Young NYC Headquarters; Avison Young Closes on Three Transactions

Lighting Retrofit Completed at Ernst & Young NYC Headquarters; Avison Young Closes on Three Transactions

A team of contractors made up of JAS Consulting, Philips Lightolier Energy Service Group and One Lux Studio recently finished work on a massive lighting retrofit project at Ernst & Young’s 650,000-square-foot headquarters in Times Square.…

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New Affordable Rental Units Available in Bedford-Stuyvesant

New Affordable Rental Units Available in Bedford-Stuyvesant

By Veronica Grecu, Associate Editor A new affordable housing complex was inaugurated last week in Brooklyn’s Bedford-Stuyvesant neighborhood during an official ceremony attended by representatives of the New York City Department of Housing Preservation and Development (HPD), development partners and residents. Created as part of Mayor Michael Bloomberg’s New Housing…

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Avison Young Anticipates a Rebound for Manhattan Real Estate in Late 2012

Avison Young Anticipates a Rebound for Manhattan Real Estate in Late 2012

As the second quarter of 2012 drew to a close, the Manhattan office market showed mixed indicators. Despite some increase in new leasing activity as compared to the record lows seen during the first quarter, vacancy rates continued to rise, which led to a high level of unoccupied inventory.…

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JV Breaks Ground on Luxury Development in Jersey City

JV Breaks Ground on Luxury Development in Jersey City

Development partners Ironstate Development Company and Kushner Real Estate Group have broken ground on 18 Park—a 550,000-square-foot, mixed-use project that will replace an undeveloped site adjacent to the Liberty Harbor North Light Rail Station near PATH and ferry service to Manhattan, all within the Liberty Harbor Redevelopment District in Jersey…

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Toll Brothers and Starwood Capital Team Up to Build Luxury Hotel and Condo Complex at Brooklyn Bridge Park

Toll Brothers and Starwood Capital Team Up to Build Luxury Hotel and Condo Complex at Brooklyn Bridge Park

The Brooklyn Bridge Park (BBP) Board of Directors has designated a joint venture between Toll Brothers Inc. and global private investment firm Starwood Capital Group to develop a 550,000-square-foot luxury hotel and condominium complex next to Pier 1 in Brooklyn Bridge Park.…

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Two Media Giants Scouting for Office Space in NYC

Two Media Giants Scouting for Office Space in NYC

By Veronica Grecu, Associate Editor Remember when Silicon Valley was the designated location for tech companies? Well, things are about to change as media giants’ quest for new office space in Downtown Manhattan reaches new heights. Some undisclosed sources quoted by Reuters revealed that Menlo Park, California-based Facebook Inc. (FB.O)…

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$70 Million Upgrade for Loews Regency Hotel New York; Industry Leader Joins Avison Young

$70 Million Upgrade for Loews Regency Hotel New York; Industry Leader Joins Avison Young

Loews Hotels, a luxury hospitality company that owns and operates nearly 20 hotels and resorts in the U.S. and Canada, has embarked on a $70 million renovation project at the Loews Regency Hotel in New York, located at 540 Park Ave. As reported by Bloomberg, the Regency renovation is part…

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Millennium UN Plaza Hotel Undergoes Complex Makeover

Millennium UN Plaza Hotel Undergoes Complex Makeover

By Veronica Grecu, Associate Editor New York City’s iconic Millennium UN Plaza Hotel located next to United Nations headquarters in midtown Manhattan will undergo a complex interior renovation project by Grace Leo, CEO and Founder of G.L.A. Hotels—a management and consultancy firm using design as a tool for repositioning hotels.…

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$46 Million Investment Brings Green Manufacturing to the Brooklyn Navy Yard

$46 Million Investment Brings Green Manufacturing to the Brooklyn Navy Yard

The Brooklyn Navy Yard Development Corporation will invest $46 million to convert three former Navy machine shops into a state-of-the-art Green Manufacturing Center, creating almost 300 construction jobs in the initial phase and approximately 400 permanent jobs.…

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LEED Gold Certified 11 Times Square Lands New Tenant

LEED Gold Certified 11 Times Square Lands New Tenant

Global Food International Corp., a worldwide supplier of food to chain restaurants, has signed a long-term lease for half the retail space at 11 Times Square. The 40-story, LEED Gold-certified skyscraper in midtown Manhattan was completed in May 2010 by Parsippany-based developer SJS Properties and the real estate investment unit…

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