10/06/08

October 2008
Froyo_face_off_magbox

Fro-yo face-off

The fro-yo trend began picking up steam when Pinkberry opened its first Manhattan store in late 2006; the company, which was started in Los Angeles in February 2005, was already hugely popular in its hometown. Pinkberry expanded quickly in New York — within a year, the chain had eight locations in the city...
By Gabby Warshawer

Fro-yo face-off

The fro-yo trend began picking up steam when Pinkberry opened its first Manhattan store in late 2006; the company, which was started in Los Angeles in February 2005, was already hugely popular in its hometown. Pinkberry expanded quickly in New York — within a year, the chain had eight locations in the city.
By Gabby Warshawer

Fro-yo face-off

The fro-yo trend began picking up steam when Pinkberry opened its first Manhattan store in late 2006; the company, which was started in Los Angeles in February 2005, was already hugely popular in its hometown. Pinkberry expanded quickly in New York — within a year, the chain had eight locations in the city.
By Gabby Warshawer

Living where they work

Boy Stillman likes to keep it in the family. The president of Stillman Development International, and the developer of the I.M. Pei-designed Centurion condo project, he recently purchased a penthouse in the Centurion and then gave it to his mother. She will move in when it's delivered in March.
By Katherine Dykstra

Fro-yo face-off

The fro-yo trend began picking up steam when Pinkberry opened its first Manhattan store in late 2006; the company, which was started in Los Angeles in February 2005, was already hugely popular in its hometown. Pinkberry expanded quickly in New York — within a year, the chain had eight locations in the city.
By Gabby Warshawer

An iconoclast defies gravity


Not all the trend-shattering residential projects in New York are in West Chelsea. The Madison Square Park/Flatiron area, with its traditional buildings, is an unlikely spot for the iconoclastic Dutch designer and architectural philosopher Rem Koolhaas to make his New York City residential debut, but he has done so with a dramatically cantilevered, steel-and-glass condominium high-rise under construction at 23 East 22nd Street.
By Steve Cutler

Bull

Breaking the bull

When the nation's finance sector ended as the world knew it last month, the city's real estate community was left slack-jawed, wondering what it would mean for the commercial and residential markets. With behemoth investment banks falling like dominoes, New York's brokers and developers started getting used to the fact that the oncoming pain would be far deeper than previously expected. This month, The Real Deal breaks down the Wall Street meltdown by sector in a series of stories that look at the numbers that matter to real estate insiders.
By Alison Gregor
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Fro-yo face-off

Froyo_face_off_magbox

The fro-yo trend began picking up steam when Pinkberry opened its first Manhattan store in late 2006; the company, which was started in Los Angeles in February 2005, was already hugely popular in its hometown. Pinkberry expanded quickly in New York — within a year, the chain had eight locations in the city.
By Gabby Warshawer

The Closing: Frederick Peters

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President of Warburg Realty Partnership. After starting in the business as a residential agent in 1980, he worked his way up to manager at Albert B. Ashforth. In 1991, he bought a majority stake in the firm's New York residential arm and renamed it Ashforth Warburg Associates. Twelve years later, he renamed the firm again, this time to Warburg Realty Partnership. Today Warburg has 150 brokers in five Manhattan offices, including one in Harlem, where it was the first large Manhattan firm to open an office.
By Lauren Elkies

Making sense of the gloom

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The outlook for New York City real estate is gloomy as the Wall Street fallout continues. For one, the Wall Street bonuses that helped raise Manhattan apartment prices in recent years are expected to be drastically slashed this year. As a result, there are signs of trouble for high-end apartment sales, which have been instrumental in holding up the New York market as the rest of the country faltered. Luxury retailers may struggle as their clientele becomes more frugal because of the economy.

Broadway Partners races to unload its trophy towers


With hundreds of millions of dollars in short-term debt coming due in January, Lawlor's private equity firm has emerged as the latest poster child for overleveraged post-boom distress. Now that Harry Macklowe's goose has been cooked, it's Broadway's nationwide effort to unload trophy office towers that has become the real estate saga du jour. By Adam Piore

McSam turns to its partner

Over the past six months, McSam Hotel Group has unloaded a half dozen of its New York development sites to the Magna Hospitality Group, a small hotel investment and management firm that is not that well known to many in the local real estate community. Indeed, the firm — which is based in East Greenwich, R.I. — has emerged as a key business partner to Sam Chang's budget hotel empire since entering the fray here in 2005. By David Jones

Hunting for Truffles

The sign on the side of the nearly finished building on West and Desbrosses streets has drawn attention for prominently displaying the curious quote from playwright Edward Albee: "You gotta have swine to show you where the truffles are."
By Jen Benepe

Looking for a Hamptons rental? Try winter.

Thought the Hamptons rental season was over? Think again. Brokers on the East End are seeing a curious new phenomenon this year. With the economy spiraling downward and Wall Street teetering on the edge, more Hamptons homeowners are looking to supplement their finances by renting out their houses during the winter months.
By Christopher Faherty

Finding green in green spaces

When Mayor Bloomberg's PlaNYC 2030 kicked off last summer, it called for the creation of 800 acres of new green space, including 31 new public plazas, to be built by 2009. So far, only three of those plazas have been built. But the Department of Transportation, which is managing the initiative, says 20 plazas will be created by next year.
By Kerri Linden

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