The Week in Review

This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.

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1. CEDAR TAVERN CONDOS TO RISE

In the next two months, marketing will begin for a new condominium development to be built above the shuttered Cedar Tavern in Greenwich Village. According to the Real Deal, the bar owner and developer of 82 University Place at 11th Street, Michael Diliberto, is aiming to acquire the necessary approval from the attorney general’s office to give the project a test run on the market. Mr. Diliberto is converting the two-story pub into a nine-story, seven-unit condominium, with prices starting at $1.7 million.

2. NBC TO EXPAND OFFICES

NBC is looking to expand its headquarters by 300,000 square feet, the New York Post reported. NBC is headquartered at 30 Rockefeller Plaza, in a space that was acquired by NBC’s parent company, General Electric, in the mid-1990s. The GE deal included the acquisition of 1.2 million feet of space in Rockefeller Center for $440 million. The brokerage firm Cushman & Wakefield is representing NBC in its search for additional space.

3. RETAIL REBOUND ON AMSTERDAM

A new mixed-use development is expected to revive an area of Amsterdam Avenue uptown, according to the New York Times. On the southeast corner of 100th Street, at 801 Amsterdam Ave., two large retail parcels — with some 34,000 square feet on different floors — are part of the Columbus Village mixed-use development, which has already signed on the supermarket chain Whole Foods as a tenant and is expected to take up three contiguous city blocks between 97th and 100th streets.

4. FLIPPING CONDOS ON CENTRAL PARK

Some of the 201 luxury apartments at 15 Central Park West are beginning to close, and some owners are already seeking to flip the units for a profit, according to the New York Times. Less than one-third of the apartments in Robert A.M. Stern’s residential tower at the corner of Central Park and West 61st Street have closed, but of those, five apartments are back on the market and brokers say more listings are likely.

5. HUDSON RIVER WEALTH BEATS PARK AVENUE

Apartments along the Hudson River house some of the wealthiest residents in Manhattan, according to the New York Post. Trump Place on the Upper West Side and Battery Park City downtown had the highest percentage of city residents reporting more than $100,000 of taxable income, the newspaper’s analysis of data from the Internal Revenue Service showed. While more residents live on the Upper East Side who report more than $100,000 in taxable income, they make up just 35.4% of the area. The residents of Battery Park City and the Trump development, however, make up 47.5% of their area’s tax filers.

6. HIGH SCHOOL EXPANDS

An Upper East Side all-girls school is planning to relocate rent-regulated tenants at a nearby building to make way for the school’s expansion. The Brearley School, whose alumnae include Caroline Kennedy Schlossberg and actress Kyra Sedgwick, has a contract to buy the 12-story rear tower at 85 East End Ave., the New York Post reported. Many of the building’s tenants pay less than $2,000 a month in rent. The school declined to disclose the terms of the deal.

jsatow@nysun.com

NY Sun
NEW YORK SUN CONTRIBUTOR

This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.


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