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Friday's Real Estate Headlines October 14, 2011

Friday's Headlines

October 14, 2011


NY Times

Facing Eviction, Protesters Begin Park Cleanup
Updated, 9:21 p.m.| Young people in knit hats and jeans scurried around Thursday wielding brooms and trash bags, moving mountains of sleeping bags, backpacks and jackets out of the way.

The Mayor Stands Firm Against the Lobbying of Puppy-Dog Eyes
They curl up on the fringes of New York City royalty, positioned to eavesdrop on conversations no one else can hear, but unlikely to pass along the details. They come from a well-worn class of political companion, intended to generate sympathy for even the surliest of leaders, but have failed to persuade the city’s first man to accept them as his best friends. They stand, and sit, as symbols of compromise in the private life of an uncompromising mayor.

Privately Owned Park, Open to the Public, May Make Its Own Rules
Zuccotti Park, the half-acre plaza in Lower Manhattan now synonymous with Occupy Wall Street, exists in a strange category of New York parkland, identified by a seeming oxymoron: a privately owned public space.

Democrats and Weprin Outspent Turner to Replace Weiner
Democrats poured $1.5 million into their failed attempt to retain the Congressional seat last held by Anthony D. Weiner, vastly outspending the Republican candidate, Bob Turner, who ultimately prevailed in New York’s Ninth District.

Daily News

Fully outfitted: Special Ops Marine looks to revolutionize furniture industry
When Jason Atkins takes you around the Greene St. SoHo showroom for Tui Lifestyle, the furnishings company he founded two years ago, he doesn’t walk, he runs. He doesn’t speak, he passionately explains why he’s going to revolutionize the way Americans live and how he’s going to change the way the world buys furniture.

The Closer: Flips and splits of New York's real-estate community
For New Yorkers who love or hate Los Angeles, a dose of authenticity and design combining good grub with views of the city’s foothills just opened up at 6317 Wilshire Blvd. More cool than exclusive, the Roof on Wilshire at the Hotel Wilshire features the cuisine of superchef Eric Greenspan, who brings new meaning to the term “comfort food.” Cheeseburgers served on challah bread, and French fries baked, then fried and topped with chives, bacon and cheese, highlight the menu from the New Jersey-bred chef who beat Bobby Flay on “Iron Chef” and is a spokesman for Ikea kitchens.

Dunn deals: West Village home boutique changes themes every season
One step into Overbey & Dunn, a seven-month- old West Village vintage and antique home shop, and almost every perception you had about design goes out the window. The sliver of a boutique feels as big as a room in a castle. Better yet, it’s like a Parisian lair where art, love, sex, debauchery and magic can happen all at once.

Ask a broker: Citi Habitats senior vice president Caroline Bass
Caroline Bass is only her 20s, but is already taking the New York real estate world by storm, winning honors such as "Rookie of the Year" from Citi Habitats and was named "Manhattan Rental Agent of the Year" by Real Deal magazine. Below, she dishes with Voyeur:

All-access pass: Every New Yorker a VIP at weekend Open House
Ever dreamed of climbing to the top of the Little Red Lighthouse, or plumbing the catacombs of Green-Wood Cemetery?

NY Post

Bush Tower is back on block
The slender Bush Tower at 130 W. 42nd St. is on the market and potential buyers are hoping that this time the owners agree to make a deal.

High noon at 7 a.m.
Just how long will City Hall let the flower children of Occupy Wall Street remain camped out at Zuccotti Park?
Today’s the day New York is likely to find out.
Mayor Bloomberg visited the Zuccotti Park encampment yesterday and informed the assembled occupiers that, beginning at 7 a.m., they’ll have to give way to the guys with the power-scrubbers.

Beach $lap for Trump
ALBANY -- New York’s highest court told The Donald “no dice” yesterday in his bid to avoid paying rent to the state for a planned, but not yet built, catering hall on the Jones Beach boardwalk.

Hamptons’ table$ turn
The Hamptons’ balance of power has tilted south.
For the first time, Southampton Town’s median home sale prices were higher than those in East Hampton Town, according to Suffolk Research Service, which compiles real-estate data.

Bloomberg angry at city officials who 'threatened' protest-park cleanup
Brookfield reversed its decision to clear the park because it was intimidated by elected officials who are siding with the protestors, an angry Mayor Bloomberg said today.


NYC official: Protest cleanup is being postponed
Deputy Mayor Cas Holloway said the owners of the private park, Brookfield Office Properties, had put off the cleaning. A confrontation between police and protesters, who had vowed to stay put through civil disobedience, had been feared.

Beyond The Edge in Billyburg
On the face of it, the decision reported in The Wall Street Journal to erect a 500-unit residential tower on the Brooklyn waterfront, at a time when most economists see growing odds of a double-dip recession, seems suicidal. But look at it from the perspective of the lead developer, Jeff Levine of Queens-based Douglaston Development.

Port buckles on Greek Church rebuilding
Ten years after its original home was destroyed on Sept. 11, St. Nicholas Parish gets the go-ahead from the Port Authority of NY & NJ to erect a new edifice on Liberty Street.

Backers float fresh ideas to save garment district
Shrinking area which still boasts 21,500 fashion jobs seen in need of a boost. Annual demo to boost awareness canceled as Occupy Wall Street fills that space.

Sunset Parkers appeal rezoning ruling
Residents and local groups file in opposition to court ruling that gave the city the green light to move forward with its 2009 rezoning of the Brooklyn neighborhood.

Battle for famed Harlem complex grows
Lenox Terrace landlord woos tenants in effort to win backing for a planned doubling of the number of buildings in the complex that former Gov. David Paterson and Congressman Charles Rangel call home.


Breaking: Brookfield Backs Down! Zuccotti To Remain Occupatti, For Now
Last night protesters and their defenders at Zuccotti Park for the Occupy Wall Street demonstrations urged Mayor Mike Bloomberg and Brookfield Properties–the owners of the park–to withdraw their threats to clean up the park and to remove anyone who stood in their way.

On the Market: Fighting for Accessible Cabs; Lincoln Turns His Back in Brooklyn; Pitbull ‘Murder’ on UES
Sunset for Rudy’s and the rest of the boardwalk gang. [Journal] Even after arrest, South Brooklyn gropings continue. [Daily News]

Can Brookfield Change the Rules at Zuccotti Park?
The occupation of Zuccotti Park can continue, leading to celebratory marches across downtown today. At the heart of the debate over the base camp on Brookfield’s “property” is whether or not the landlord can retroactively change the rules at the site. The Observer has heard a mix of answers from architects and zoning experts, but according to the Department of City Planning, which oversees the city’s POPS, Brookfield can make some restrictions, but not others.

Douglaston Has the Edge at Northside Piers: New 40 Story Tower for Williamsburg Waterfront
This is the last thing anyone was expecting, but it looks like a new shiny tower is coming to the Williamsburg waterfront, the site of one of its more troubled developments, in fact. In a bit of a coup, Douglaston Development will build a 40-story rental tower, according to The Journal, and while they have spent years struggling to sell their Edge development, the tower is actually being built next door, on the third North Side Pier site, which had been the provenance of Toll Brothers.

Were We Wrong Just Because the Gap Is Closing Even More Stores?
Last month, The Observer revealed the The Gap was poised to close one-quarter of its stores in New York. A spokesperson denied this at the time, calling the claim “extremely exaggerated.” But yesterday, the company announced it is actually close one-third of its stores.

Hallelujah! Port Authority Reaches New Deal to Rebuild Ground Zero Church
In his last act as Port Authority executive director, Chris Ward signed off on a deal he has sworn for almost his entire tenure was impossible: the relocation of the St. Nicholas Greek Orthodox Church at a site promised by Governor George Pataki, at 130 Liberty Street. Instead, he wanted it built at a smaller and less prominent site at 155 Cedar Street. The deal was reportedly brokered by Mr. Ward’s antagonist, Governor Andrew Cuomo.

Law Journal

Warren LLC v. Daza

Wall Street Journal

Williamsburg Slated For New Rental Tower
The developer of Williamsburg's massive Edge condo project is moving ahead quickly with a 500-unit luxury rental on the waterfront, which could be Brooklyn's most ambitious new residential project since the recession.

Group Under Fire Gets Grant
The New York State Department of State awarded a Queens development group a $1.5 million grant, despite a continuing investigation by the Attorney General into allegations that the group conducted an extensive lobbying effort in violation of state law.

New Blood Seals Deal for Prized New York Building
Jamestown Properties and Rockwood Capital are joining a pair of real estate managers who have agreed to buy 530 Fifth Avenue, ending an intense competition among private equity funds, REITs and other investors for a piece of a prized Manhattan property.

Plan Floated to Spread Risk in Mortgage Bonds
The Obama administration and a federal housing regulator are considering a program to draw private investment back into the government-dominated mortgage market by having Fannie Mae and Freddie Mac sell slices of securities that wouldn't carry a federal guarantee but would pay a higher interest rate than current mortgage-backed bonds.

Harlem Attracts Post-Slump Buyers
Yan Feng, a pediatrician from Beijing, just paid $2.3 million for a townhouse on Convent Avenue in the Hamilton Heights neighborhood in Harlem, bidding $100,000 more than the asking price after losing out on another deal for a house down the street.

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