By Sally Goldenberg | 10/12/2017 10:00 AM EDT
WINTER OF DISCONTENT — "Durst weighs a cold war against de Blasio," by POLITICO New York's Dana Rubinstein: When Mayor Bill de Blasio publicly suggested last month that Douglas Durst had tried, but failed, to buy influence at City Hall, the billionaire developer responded with an ominous warning. "Winter is coming," Durst said through a spokesman. The cryptic comment — drawn from "Game of Thrones," HBO's violent fantasy about warring dynasties — reverberated in the sometimes primeval world of New York real estate, where Durst runs a fiefdom that stretches from the spire of One World Trade to the fertile soil of western Queens. It's a perch from which he has waged battles against the best-laid plans of politicians past, and often won. What might he have planned for this mayor? "I think he's going to see lots of problems in his term," Durst said in an interview from the 49th floor of his Bryant Park skyscraper. Read the story here.
HOUSEKEEPING — "Despite differences, Bloomberg official applauds de Blasio's 10-year housing plan," by POLITICO New York's Sally Goldenberg: Mayor Bill de Blasio's controversial housing plan received the unlikely backing of a Bloomberg administration official whose own efforts de Blasio has criticized as insufficient for the city's poorest residents. During an appearance on WNYC's "The Brian Lehrer Show" on Wednesday, former deputy mayor Dan Doctoroff applauded de Blasio's record on subsidized housing and defended him against critics who say he is not doing enough. "In general I really do applaud the de Blasio administration for being so aggressive and creative," Doctoroff said when Lehrer asked whether the current administration relies too heavily on for-profit developers rather than nonprofit outfits to build apartments for low- and middle-income residents. ... It was notable support, coming from the veteran of a politically centrist administration for a liberal Democratic mayor whose policy is criticized most heavily by the left flank of the party. Read the story here.
ZONED OUT — "East Harlem rezoning hearing disrupted by protesters," by POLITICO New York's Conor Skelding: Dozens of protesters interrupted a Council hearing on the de Blasio administration's proposed rezoning of East Harlem on Wednesday, shouting over Speaker Melissa Mark-Viverito, who represents the area and could kill the proposal. Mayor Bill de Blasio has proposed rezoning a 96-block area in East Harlem, which he says would lead to the development of about 6,000 apartments, with 1,500 of them rent-regulated under the city's 'Mandatory Inclusionary Housing' policy. Mark-Viverito has not said outright whether she supports the latest plan, though it has been moving in the City Council. ... For just more than five minutes, the protesters stood and chanted until security removed them and limited access to the Council Chambers. The group included some high school students, including some from East Harlem, whose teacher had let them out of class to protest. The activists said the rezoning would speed gentrification and displacement, but the administration argues that gentrification will happen anyway, only without an affordable housing requirement. Read the story here.
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INFOGRAPHIC: Mortgage Interest and Real Estate Deductions: The mortgage interest deduction has become a key part of the conversation around tax reform. Our infographic breaks down the projected values by income class of both the mortgage interest and real estate tax deductions for 2017. Download now.
BIG DEAL — "L&L and pension fund are planning $4B spending spree," by The Real Deal's Rich Bockmann: "L&L Holding Company is teaming up with a large domestic pension fund to go on a $4 billion spending spree in New York City. The partners formed a joint venture that has $500 million in dry powder ready to deploy in order to go after new value-add deals, L&L president Robert Lapidus told The Real Deal." Read the story here.
FLUSH WITH CASH — "SkyView Parc's Sales Signal Strong Flushing Condo Demand," by Wall Street Journal's Josh Barbanel: "SkyView Parc, a huge condominium and retail complex in Flushing with six separate condo towers, is headed toward a sellout, a decade after its first apartments came on the market, showing the strong current demand for condos in Flushing." Read the story here.
ON THE MARKET — "SL Green Showing Lexington Avenue Offices," by Real Estate Alert: "SL Green Realty is marketing a Midtown Manhattan office building valued at about $305 million. The 305,000-square-foot property, at 600 Lexington Avenue in the tony Plaza District, is suitable for core investors, given that it is virtually fully leased." Read the story here.
BY DESIGN — "New Museum Selects Rem Koolhaas for Expansion on the Bowery," by The New York Times' Robin Pogrebin: "The New Museum may have a relatively modest budget for its expansion — $85 million — but the institution has selected a big-name architect to design it: Rem Koolhaas." Read the story here.
— "Under Construction: How Tishman Speyer Is Building an Office Tower Over Macy's in BK," by Commercial Observer's Liam La Guerre: "Tishman Speyer and partner HNA Group are trying to blur the lines between Art Deco architecture and contemporary glass with their new office project in Downtown Brooklyn called The Wheeler. ... Macy's—which owned the three buildings in their entirety—will continue to occupy the first four floors of the project; the upper floors will be a mixture of old and new and comprise 620,000 square feet." Read the story here.
UNCOOPERATIVE — "Two Harlem condo boards are suing L&M Development," by Crain's Joe Anuta: "Two Harlem condominium boards are suing L&M Development Partners over defects and damage in their buildings, court records show." Read the story here.
IN THE WORKS — "Permits Filed For 111-12 Astoria Boulevard, East Elmhurst, Queens," by YIMBY's Andrew Nelson: "Families of East Elmhurst, Queens can rejoice, as a new public school will soon be coming to their neighborhood." Read the story here.
MARKET WATCH — "Manhattan Office Leasing Activity Held Strong in Q3: CBRE," by Commercial Observer's Rey Mashayekhi: "The Manhattan office leasing market continues to show signs of strength via positive net absorption figures and double-digit percent increases over last year, according to CBRE's latest Manhattan office market report released [Wednesday]." Read the story here.
NEXT ACT — "A State-Boosted Film Studio Hub Faces Possible Eviction," by The New York Times' Sarah Maslin Nir: "When Gov. Andrew M. Cuomo announced a $15 million investment to build a film studio hub in DeWitt, N.Y., in 2014, state officials vowed the complex would bring 350 high-tech film jobs of the sort more often seen in Hollywood to this town in Central New York. Two years after it opened, the hundreds of jobs failed to materialize. The same, according to a court complaint, goes for the studio's rent payments." Read the story here.
LEAD SCARE — "High levels of lead found in Greenpoint backyards," by Crain's Jonathan LaMantia: "Unsafe lead levels are prevalent in the backyard soil of many Greenpoint, Brooklyn, homes, according to a graduate researcher from Columbia University." Read the story here.
TAX TALKS — "America spends a lot more on homeowner subsidy than on Section 8: report," by The Real Deal's Will Parker: "In a May interview with the New York Times, Housing and Urban Development Secretary Ben Carson warned against policies that provide 'a comfortable setting that would make somebody want to say: 'I'll just stay here. They will take care of me.' Carson further said he believes in 'incentivizing those who help themselves.' If that means aiding the already well-off, a comparison of two key housing subsidies by listings website Apartment List would indicate that the federal government is already doing that." Read the story here.
STANDARD DEVIATION — "City Council Seeks to Reform the 'Most Powerful City Agency That No One Has Heard of,'" by Commercial Observer's Rey Mashayekhi: "Earlier this year, the New York City Council passed legislation to reform the city's Board of Standards and Appeals—the latest political flash point over a body that has, since 1916, held a major influence over the way the city's modern zoning code is implemented." Read the story here.
— "The saga continues: Former 45 John owner goes after recipients of down payment," by The Real Deal's Kathryn Brenzel
— "SL Green, Sutton secure $225M Aareal Bank Refi for 650 Fifth Avenue," by Commercial Observer's Mack Burke
— "Startup Honest Buildings raises $13 million from the likes of Brookfield and Rudin," by Crain's Joe Anuta
— "Plaza penthouse of ritzy developer Christian Candy finally nabs a buyer," by Curbed's Tanay Warerkar
— "Brooklyn's tallest tower reveals its extensive amenity package," by Curbed's Zoe Rosenberg
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