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Real Estate News for New York Business is a selection of special interest reports from respected industry publications. Links are provided to original content.
Following seven years of delays and a comic array of costs overruns, the Port Authority of New York and New Jersey decided to nix a grand opening ceremony for the Santiago Calatrava-designed, 365,000-square-foot train station known as the Oculus. The project exceeded its budget by around $2 billion and was referred to as “a symbol of excess” by Patrick Foye, the authority’s executive director.
Link to the video below for more on the project.
Climate Change: It’s No Longer a Landlord’s Market. Behold the Power of the Tenants!
by Lauren Elkies Schram, Feb. 17, 2016
Just how eager have some landlords become to get vacant space rented?
Consider this: One landlord is offering brokers the chance to win a Porsche if they bring a “qualified tenant” to look at office space at 707 11th Avenue. So says a listing for 53,270 square feet across two floors in the building, which is between West 50th and West 51st Streets, according to the marketing flyer from Cushman & Wakefield. Kenneth Cole Productions nabbed the building in June 2006 for $24 million, according to property records.
The 14 best new buildings on the planet, according to architecture fans
by Talia Avakian , Feb. 12, 2016
Architects continue to push boundaries with their designs. ArchDaily recently announced the winners of its annual Building of the Year Awards, determining 14 of the top buildings in categories that ranged from offices to religious structures.
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