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Harlem Affordable Housing Adds 226 New Units

Harlem Affordable Housing Adds 226 New Units

By Veronica Grecu, Associate Editor The Uptowner reports that after having completed two affordable housing buildings totaling 226 units on West 127th and 128th Streets between Frederick Douglass Boulevard and St. Nicholas Avenue in Central Harlem, development company The Richman Group [...]…

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Manhattan Office Building Goes Residential; City Encourages Neighborhood Sustainability

Manhattan Office Building Goes Residential; City Encourages Neighborhood Sustainability

By Veronica Grecu, Associate Editor As Manhattan’s residential inventory is calling for more and more space, office building reconversion seems to be the best solution for developers. One such reconversion plan was filed with the New York State Attorney General’s office [...]…

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Private Developers and Local Officials Make Up Willoughby Park Missing Funds; 31 Penn Station Tower Sold to Savanna

Private Developers and Local Officials Make Up Willoughby Park Missing Funds; 31 Penn Station Tower Sold to Savanna

By Veronica Grecu, Associate Editor The public park at Willoughby Square in Downtown Brooklyn will receive $8 million from private developers and local officials who teamed up to give a helping hand to this stalled project. According to the Brooklyn Daily [...]…

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Much-Needed Housing for Seniors and Low-Income Families Breaks Ground in South Queens

Much-Needed Housing for Seniors and Low-Income Families Breaks Ground in South Queens

By Veronica Grecu, Associate Editor In an effort to revitalize a long-vacant site that’s part of the Brownfield cleanup program, the Arcker Cos. broke ground on two housing developments for seniors and low-income families in Richmond Hill. According to the Queens [...]…

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Empire State Building Achieves LEED Gold Certification

Empire State Building Achieves LEED Gold Certification

By Veronica Grecu, Associate Editor Jones Lang LaSalle announced in an official statement this week that the U.S. Green Building Council has awarded a LEED Gold certification to the Empire State Building, as further recognition from the $550 million Empire State [...]…

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$3M Renovation for Brooklyn’s Parkside Playground Begins

$3M Renovation for Brooklyn’s Parkside Playground Begins

By Veronica Grecu, Associate Editor The long-awaited renovation project of Brooklyn’s historic Parkside Ave. finally started in the presence of members of the Flatbush community and city and state officials who attended the groundbreaking ceremony. The $3 million Parkside Playground project [...]…

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Brooklyn Goes “Green” through Strategic Programs and Sustainable Developments

Brooklyn Goes “Green” through Strategic Programs and Sustainable Developments

By Veronica Grecu, Associate Editor Three key Brooklyn communities enrolled in a three-year strategic program called “Brooklyn Greens” are planning several events and initiatives that would encourage young people, adults and community institutions to improve their local environment through energy-efficient actions. [...]…

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Busy Week for Commercial Real Estate in New York City

Busy Week for Commercial Real Estate in New York City

By Veronica Grecu, Associate Editor The commercial real estate transactions cited by Citibizlist that were closed this week in New York City show signs of improvement in the market. The entire fourth floor of an office building located at 1150 Avenue of [...]…

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Marriott International Announces Plans for Tallest Hotel in New York

Marriott International Announces Plans for Tallest Hotel in New York

By Veronica Grecu, Associate Editor One of the most daring real estate developments will take shape at 1717 Broadway at 54th Street in Manhattan. In an official statement released this week, global hotel chain Marriott International and Granite Broadway Development announced [...]…

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Affordable Housing Escalates in New York Neighborhoods

Affordable Housing Escalates in New York Neighborhoods

By Veronica Grecu, Associate Editor New York’s affordable housing initiative has come a long way—with $1.3 billion invested in the plan and 15,827 units of affordable units financed for middle-class and low-income residents in Fiscal Year 2011, which ended on June [...]…

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Lenox and LIC Residential Developments Return to Life

Lenox and LIC Residential Developments Return to Life

By Veronica Grecu, Associate Editor After receiving a $28 million low-interest construction and permanent loan through the Housing Asset Renewal Program, Queensboro Development will re-start a long-stalled residential development in Queens. The mixed-use development, located at 23-10 41st Ave. in Long [...]…

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Residential and Office Rents Increase in NYC

Residential and Office Rents Increase in NYC

By Veronica Grecu, Associate Editor A report by Citi Habitats, New York’s largest rental residential brokerage, shows that the city’s rents continued to increase in the second quarter while vacancy rates have fallen to a historic 0.72 percent in Manhattan. Average [...]…

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