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Sandro Rosell
FC Barcelona President
Wednesday, October 18, 2017

Real Estate

St. John’s Terminal, the 1.1 million square-foot former warehouse, at 550 Washington Street is in contract to be acquired by Oxford Properties for about $700 million, or $443 per square foot. The West Village land can be redeveloped into a massive mixed-use complex with about 1.58 million square feet of residential, retail and office space.

As reported by the NY Post, the three-block-long complex has been sought after for decades for its potential in redevelopment. Surrounded by Washington, Clarkson and Spring streets and the West Side Highway, it has a supplementary 280,000 square feet of air rights. In addition, 200,000 square feet of air rights will be transferred from Pier 40 for an extra $100 million, as approved by the City Council

The penthouse that occupies the top three floors in the infamous Pierre Hotel has finally sold, but far below the record-setting asking price the owners, financial analyst Martin Zweig and wife Barbara Zweig, had initially desired.

Public records show that the 16-room penthouse sold for a mere $44 million, which was 65 percent less than its initial asking price when it hit the market in 2013 of $125 million.

When the $125 million price tag failed to spark the interest of any buyers, Barbara

On Tuesday, August 29, in state Supreme Court, Ambase’s last drop of hope to retain its tower now under construction on Billionaires’ Row may have been dissolved.

With developers Michael Stern of JDS Development and Kevin Maloney of PMG, Ambase owns the building located at 111 West 57th Street, which is better known as Steinway Tower. The company has been trying to stop the $1 billion project from being seized by the lender Spruce Capital by securing an injunction.

Instead, what is referred

Mayor Bill de Blasio is finally following through on his promise to revive the former Greenpoint Hospital and redevelop it into an affordable housing complex, a much needed commodity in this quickly growing area.

It is expected that a request for expressions of interest (RFEI) will soon be issued by the city’s Department of Housing Preservation and Development (HPD) to get proposal for the redevelopment of the complex. According to the Daily News, the city would like to create on the site a

Considering the fact that New York was a horse-and-carriage town for so many centuries, it is surprising that there are so few stable converted homes remaining. By the 1950s most everything was torn down or converted making room for office buildings and modern residences. Most remnants of the city’s colonial days are long gone, but a few rare gems still stand. Often hidden behind their modest, original facades, a few of these converted carriage homes contain architectural wonders within.