Design revealed for Herald Square tower

A rendering has been revealed for a Costas Kondylis-designed 47-story residential tower at 885 Sixth Avenue. The setback glass tower will be built by Atlantic Realty Development. Winick will lease the retail space on the bottom two floors. Office space will be on the third floor and a gym will be on the fourth floor. The rendering shows Apple signage at the base.

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source: therealdeal.net

CBHK workers get CEO-cooked dinner ... and more

1. Coldwell Banker Hunt Kennedy CEO David M. Michonski will cook a holiday dinner for 40 employees more [Post, final item}
2. Columbia University gets its rezoning but still faces three property owners holding out against its expansion more
3. Rezoning of Grand Street in Williamsburg could shorten Karl Fischer towers more [Curbed]
4. Fraud seen as driving foreclosures more [WSJ]
5. Silverstein closes on 1177 Avenue of the Americas for over $1 billion more [NYO]
6. Mortgage securities pricing probes gain pace on Wall Street more [WSJ]
7. S.E.C. investigates Washington Mutual over appraisals more [WSJ]
8. A round-up of New York City's most endangered buildings more [AMNY]
9. Big Javits Center expansion plans declared dead more [AMNY]

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source: therealdeal.net

Sellers swallowing their pride in Crown Heights

From the December issue: Until recently, brokers touted Crown Heights, located east of Prospect Heights, as an up-and-coming neighborhood that offered an alternative to pricier parts of Brownstone Brooklyn. But now the question is whether listings there are actually luring buyers. The real estate blog Brownstoner.com, for instance, recently called attention to a slew of price reductions in the neighborhood.

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Lucky Strike bowling alley rolling out at One River Place

After a seven-year vacancy, the 40,000 square-foot retail space under One River Place has finally found a tenant -- Lucky Strike Entertainment. The lease for the Hell's Kitchen spot at 12th Avenue and 42nd Street was signed earlier this month, and Lucky Strike plans to be open for business in the fall of 2008. New York real-estate mogul Larry Silverstein completed 40-story, 921-unit rental apartment tower in 2000. The Costas Kondylis-designed building was fully occupied by 2003, while the 40,000 square feet of ground floor retail space languished. The retail space faces the West Side Drive, the Circle Line ferry and the Hudson River.

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source: therealdeal.net

Housing for Orthodox Jews coming to Williamsburg

A developer of some of the priciest real estate in Greenpoint is building up to 500 units of lower-cost housing for the growing population of Orthodox Jews in Williamsburg. Isaac Hager's North Development Group purchased an approximately 96,000 square foot property south of Broadway and a block from the East River for $42.5 million, company marketing director Martin Ehrenfeld said. The property from South 8th to South 9th Streets and from Kent to Wythe was purchased on Dec. 11 from Waterview Gardens LLC. The deal for the vacant property was negotiated between the two parties, Ehrenfeld said.

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source: therealdeal.net