Tomorrow's News, Right Now.

Here is your advance links to Wednesday's news:

  • In tomorrow’s New York Post, columnist Lois Weiss spots a big deal on W. 43rd St.: AEW has bought a rental building in at 520 W. 43rd St. for about $170 million.  The project was developed by the Gotham Organization, with investor AIG Affordable Housing—the article says the building is an 80/20 development with six years remaining on its 421a 20-year property tax abatement.  You can find the article here, where Weiss also notes that Roseland Ballroom will become a 50-story tower, with retail, from Algin Management, which develops apartment rental buildings.
  • The Daily News has details on a Gov. Cuomo idea for cutting property taxes in Wednesday’s paper, here.
  • The Wall Street Journal looks at Superstorm Sandy rebuilding efforts as the city braces for another Nor’easter.  The article poses the uncomfortable question of what comes first: getting aid to victims who are still rebuilding their homes, or work on the infrastructure to prevent another disaster. The article has a terrific bar graph showing the destinations of city and state aid. A Dilemma on Sandy Aid, here.
  • The New York Times’ weekly Wednesday “30 Minute Interview” tomorrow features NJ real estate mogul Jonathan C. Kushner of Bridgewater, N.J.’s Kushner Real Estate Group.
  • Finally, the new “Living In” column in the Times looks at 6 train destination Westchester Square, in the Bronx.
  • Reuters posted a video on the S&P Case-Shiller Home Price Index with the Managing Director of the S&P Dow Jones Indices, David Blitzer, on what is called a better than expected report. The discussion looks at real estate prospect broadly. We looked at it the index here, early on Tuesday.

And .... one more from Tuesday…..

FiDi's 100 William St. is back in the news.  Just sold this fall, Crain’s New York Business reports that CBRE has had two recent leasing successes in the building.  A subtenant, New York Internet Co., signed onto its own 10-year lease in the same space on the building’s top (21st) floor, while law firm Gorayeb and Associates expanded its office, according to Crain’s, by 70%, to 17,000 square feet, for 15 years. 

And as a result, the article says CBRE retained its status as building leasing agent under the new owner, Manulife Insurance.  Win win, and win.  Crain's details are here.

 

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