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Thread: 20 Pine Street - Condo - by Graham, Anderson, Probst & White / Renov: Gruzen Samton

  1. #16


    i was in the starck building yesterday and they are the old cars. the buttons in the elevators have tape over them and are re-numbered because there is a 13th floor on the old template.

  2. #17

    Default 20 Pine Celebs galore

    Article taken from Page Six Section of the New York Post Online:

    Date: June 16, 2006

    By: Richard Johnson with Paula Froelich and Chris Wilson

    PER Se owner/chef Thomas Keller now has a place in New York to hang his toque. California-based Keller just plunked down $1.5 million in the Armani Casa-designed building 20 Pine St. downtown. He's now neighbors with Nancy and Sid Ganis, head of the Academy of Motion Picture Arts and Sciences, who paid $2.1 million for a two-bedroom apartment and half that for a one-bedroom in the same building (for guests). Meanwhile, radio psychiatrist Joy Browne paid a whopping $4.5 million for the penthouse.

  3. #18


    Quote Originally Posted by Domoarigato

    Article taken from Page Six Section of the New York Post Online:

    Date: June 16, 2006

    By: Richard Johnson with Paula Froelich and Chris Wilson

    PER Se owner/chef Thomas Keller now has a place in New York to hang his toque. California-based Keller just plunked down $1.5 million in the Armani Casa-designed building 20 Pine St. downtown. He's now neighbors with Nancy and Sid Ganis, head of the Academy of Motion Picture Arts and Sciences, who paid $2.1 million for a two-bedroom apartment and half that for a one-bedroom in the same building (for guests). Meanwhile, radio psychiatrist Joy Browne paid a whopping $4.5 million for the penthouse.

    celebs? that is a real stretch...

  4. #19


    Leviev buys building at 111 FULTON without Boymelgreen

    from todays NY Times.

    "A Partnership Evolves
    THE Israeli billionaire Lev Leviev and the Brooklyn-based developer Shaya Boymelgreen have teamed up for some high-profile residential projects since they first became partners in 2002.
    Now, acting through his holding company, Africa Israel, Mr. Leviev has made his first significant move here without Mr. Boymelgreen, buying 111 Fulton Street, a commercial building at the corner of William Street in Lower Manhattan, which he plans to convert to condominiums.
    But Mr. Leviev said the venture did not indicate differences with Mr. Boymelgreen. "Our relationship is very good with Mr. Boymelgreen," Mr. Leviev said last month during a visit to 20 Pine Street, one of the financial district buildings that he and Mr. Boymelgreen are converting to condos.
    The partners have also worked together on the conversion of 15 Broad Street and 60 Spring Street, as well as in the construction of new condo buildings in TriBeCa, downtown Brooklyn and Dumbo. They also have ambitious projects under way in Miami and Las Vegas.
    Mr. Leviev said he had other partners in the Fulton Street project but would not say who they were. Records filed with the Department of Buildings, however, give the names of two partners: Joseph Klaynberg, a developer, and Ricky Cohen, whose family owns the Conway Stores chain.
    Those documents, filed on June 6 by the architect Karl Fischer, call for nine stories to be added to the existing eight-story building. But Dan Avidan, the head of finance for Africa Israel, said on Wednesday that plans had been scaled back and now only two stories would be added.
    A deed filed with the city says the sale price of 111 Fulton Street was $21.8 million. But Mr. Avidan said the company had paid $59 million for the building and he was not sure why the deed showed a lower price.
    Mr. Boymelgreen said he and Mr. Leviev had been working under a five-year agreement that required him to offer any new projects exclusively to Africa Israel. That expires next year. "The relationship is a beautiful relationship, but we're not married for life; we're married for five years," he said. He said they would continue to work together for several years on a number of projects, like a planned condo complex on the Gowanus Canal in Brooklyn.
    He also sounded a note of caution on the New York market, saying he had been reluctant to start more new condo projects here. "I didn't buy for a while, maybe more than a year and a half, anything in condos in New York because it's a little bit overbuilt."
    Instead he has begun to focus on markets he considers undervalued, like Israel, where he is completing the $500 million acquisition of Azorim, a company that develops condos and houses."

  5. #20

    Default Better Act Fast in the Financial District!

    Taken from
    June 19, 2006 Better Act Fast in the Financial District!
    Posted by Toes at 08:56 AM | Comments (0) | TrackBack (0)
    The Financial District has become increasingly popular for recent graduates moving to NYC to work on Wall street. They know they will be putting in insane hours as first year analysts at companies such as Deutche Bank, so they want to live as close to work as possible. Most of the new luxury rentals in the Financial District are also paying the broker's fee, which allows recent grads to use their relocation bonuses towards the already high costs of moving to Manhattan.

    Matt, a 2006 college graduate, came into town last Tuesday to find a studio under $2,000 in the financial district for a July 1st move-in. 100 Maiden Lane had 6 studios available on Friday, but on Tuesday, they were all gone. Cheapest studio? $2,225. Monday afternoon, 45 Wall St had 3 studios available but Tuesday morning they called me to cancel our appointment. Between 10am and 12 noon, all 3 studios were rented.
    A John Street building and a Gold street building had studios for $1750 - $2000, but lacked any amenities, and weren't paying the broker fee. Despite the appealing rent, the buildings just weren't as nice as the luxury "fee-paying" buildings. When you amortized the fee into the rent, you could live in a much nicer and newer building for the same price.
    63 Wall, "The Crest," had one $2,025 studio for July 1 that Matt liked. We headed to 90 West and found a possibility there. An hour later, we went back to take the studio at 63 Wall Street, but it had just been rented. We went to 90 West Street to take Matt's second favorite apartment, but it had JUST been rented also! Matt put in an application in the nick of time for his third choice, an apartment for $2,005 at The Crest. With nothing left for July 1st, Matt had to take an apartment for August 1st, and will be sleeping on a friend's couch for his first 5 weeks as an analyst in NYC.
    As a broker, I know that the vacancy rates in the Financial District have gone back to what they were before 9/11. But even I wasn't prepared that the 12 options available to Matt on Monday afternoon would be gone Tuesday afternoon. Studios were literally disappearing before our eyes.
    The financial district is considered one of the last few places in Manhattan where you can get a "good deal." But if apartments in this area keep flying off of the shelf the way they are right now, you won't see buildings paying the broker's fee for much longer.
    The new condo buildings and condo conversions going up in the neighborhood, (20 Pine, The Cipriani Residences, Five Nine John Lofts, the Downtown Club, and Cocoa Exchange, just to name a few) will bring thousands of new residents to the area, as well as new stores, bars, and restaurants. Anyone who wants to take advantage of one of the last few "good deals" on the island of Manhattan - luxury rental buildings that pay the broker's fee - better get in soon, before all of the "deals" are gone!
    For additional information about the financial district's rebirth, check out:
    The Real Deal
    Miller Samuel

  6. #21

    Default Wealthy Residents and Retailers Head Downtown to Wall Street

    Wealthy Residents and Retailers
    Head Downtown to Wall Street

    By Ryan Chittum
    From The Wall Street Journal Online
    Is Wall Street becoming the new Fifth Avenue?
    Drawn by some of the country's wealthiest households, a daytime work force that is doing even better, a bevy of swank condominium projects and relatively low commercial rents, blue-chip retailers are for the first time beginning to covet the street synonymous with money. Last week venerable jeweler Tiffany & Co. said it is bringing its trademark blue boxes to the neighborhood of the New York Stock Exchange. That followed Paris fashion house Hermès's disclosure earlier this year that it would open a store across from the Big Board.
    For now, the upscale retailers are focused in the immediate vicinity of the stock exchange at 11 Wall St. But retailers and developers who have watched a surge of luxury condos open in Lower Manhattan over the past three years believe the announcements could be the beginning of a broader transformation as high-dollar retailers follow their high-rolling customers downtown.
    Faith Hope Consolo, chairman of retail leasing and sales at Prudential Douglas Elliman, says she has a dozen luxury-retail clients that have begun looking in the financial district in the past six months, including a "very big Italian shoe company and a French perfumery that are in negotiations now. They haven't put their toes in the water; they've put their arms and legs."
    "Luxury is going to own the financial district by the end of this year," she adds.
    The south side of Wall Street from the exchange to the East River is almost all residential now or being converted to it. The fusty former headquarters of J.P. Morgan is being converted into Downtown by Philippe Starck, where condo units go for a minimum of $1.2 million. The new Hermès is moving into the first floor. Tiffany will set up shop next door at 37 Wall Street at the base of the former Trust Co. of America building, now being turned into luxury apartments.
    Down the street model Naomi Campbell, actor Bruce Willis and movie producer Harvey Weinstein are moving into the former 55 Wall Street, which once housed the stock exchange, last was a luxury hotel and now is being souped up as the pricey Cipriani Club Residences. Last week real-estate broker Dolly Lenz flew to London to host a lunch for the Duchess of York and 80 of her closest friends -- to promote the Duchess's coming book and to help sell luxury condos at 55 Wall Street. By the end of a seven-hour event that also included breakfast, tea and cocktails, Ms. Lenz sold two luxury apartments at the building to friends of the Duchess.
    Even without royal friends, Lower Manhattan has among the best demographics in the country: A residential population with median household income of $87,000 -- roughly twice the New York City average -- and more of that income to spend because 81% have no children, according to the Alliance for Downtown New York, a nonprofit group representing business and property owners. Defying expectations after the Sept. 11, 2001, attacks, the population of Lower Manhattan, south of Chambers Street, has swelled to more than 36,000 from 20,000 before terrorists brought down the Twin Towers.
    "It's an ideal place for high-end retailers," says Carl Weisbrod, president of Trinity Real Estate and a former head of the Downtown Alliance.
    Add to that the 311,000 workers who spend most of their weekdays in the area, and retailers have an underserved market. About 212,000 of the workers downtown are private-sector office workers who make $136,500 on average. Just yesterday BearingPoint Inc. announced that it will locate 633 workers in the World Financial Center, a major downtown office complex owned by Brookfield Properties Corp., in exchange for up to $3.1 million in state and city subsidies.
    Those well-paid workers already have fueled strong starts for BMW AG and Hickey Freeman, an upscale men's wear store, which both opened stores near the stock exchange last year. "Since we opened in September of last year, we have been building our client base faster than anticipated with repeat customers, and exceeding our planned sales goals," says Paulette Garafalo, group president of Hickey Freeman and Bobby Jones.
    That doesn't surprise Alan Napack, director of retail services at New York-based commercial real-estate services firm Cushman & Wakefield Inc. "A guy just made that $2 billion deal, why not head down to BMW and pick up a couple of 745s?" he asks.
    Luxury retailers also are attracted by the much lower rents downtown. Fifth Avenue rents have reached $1,400 a square foot, compared with $38 for space in the average American mall and $60 to $225 in Lower Manhattan.
    Still, the question remains: Is this enough to make the financial district the next frontier for Manhattan luxury retail? SoHo once seemed like the likely successor to Fifth Avenue, but luxury retailers have had mixed success there, says Ms. Consolo of Prudential Douglas Elliman.
    For all its riches, Wall Street has never been a retail center, says John Steele Gordon, a historian and author of "The Great Game," a history of Wall Street. Once a fashionable place to live -- when George Washington gave the first Inaugural Address there in 1789, Wall Street was lined with the houses of the rich and famous -- the street became a financial hub within decades.
    Today, while Fifth Avenue has Bulgari, Louis Vuitton and Bergdorf Goodman, Wall Street has small personal-service outlets including a tanning salon, a shoe-repair shop and a fitness center.
    Since Sept. 11, Wall Street has been mostly blocked off to cars and pedestrians must negotiate a maze of security precautions. It will need to continue to make itself look less fortress-like if the city wants to draw shoppers to the area.
    Perhaps the biggest unknown downtown is the redevelopment of the World Trade Center retail space, which had been located under the Twin Towers. At least 500,000 square feet -- about half the size of an average shopping mall -- of retail space is planned for the three new WTC buildings and a train station on Church Street.
    But much will depend on the configuration of the new space, which still must be negotiated by World Trade Center developer Larry Silverstein, the Port Authority of New York and New Jersey and Westfield Group, which controlled the WTC retail space before Sept. 11 and maintains a legal "right of first offer" on any new retail development there. Westfield is likely to exercise that right, says a person familiar with the company. The World Trade Center mall was one of the highest grossing retail spaces in the world, bringing in sales of $900 a square foot, then more than triple the national average.
    After the Sept. 11 attacks slowed growth downtown, government subsidies helped lure residents and corporations back downtown in the years following the attacks and the residential population has jumped by 61% since 2001. To serve that rising clientele, Bobby Van's Steakhouse opened last year, and after a three year hiatus, Harry's, a Wall Street institution, just reopened with a cafe and a steakhouse in India House.
    "The retail community recognizes the buying power in Lower Manhattan and isn't waiting for some of the larger things to happen," says Eric Deustch, head of the Downtown Alliance.
    For Tiffany, it is a homecoming of sorts, and the move tracks the evolution of New York itself, says Mr. Gordon, the historian. Its first store opened on Broadway just around the corner from Wall Street in 1837, but as the city's population exploded and the fashionable neighborhoods gradually moved uptown, Tiffany followed, first to Union Square, then to 37th Street and finally to its current store at 57th and Fifth Avenue in 1940.
    Hillary Smith, an assistant at trading-floor firm Bear Wagner Specialists LLC, which has offices in the Trump Building at 40 Wall Street, says the new stores will make her job easier. "A lot of times we have to go to Tiffany's, and we get the car service and go all the way uptown" to get personalized gifts for clients, she says. It will also be good for some of her co-workers, Ms. Smith adds. "They always forget their wives' birthdays."

  7. #22

    Default Construction Update: 09/07/06

    Construction Update: 09/07/06
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  8. #23

    Default More Construction Pics

    More Construction Pics
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  9. #24

    Default ?

    What's the update? I don't really see anything of note in these pics

  10. #25
    Senior Swanky Peteynyc1's Avatar
    Join Date
    Apr 2005
    Hell's Kitchen


    There is nothing to see, its a CONVERSION

  11. #26

    Default windows

    Looks like the east side of 20 Pine is getting a few new windows. I've counted about 50. Looks like construction is humming along nicely. Anybody with updates?

  12. #27

    Default 20 Pine - for those who expect the best ;-)

    Have sales slowed to a crawl?

  13. #28

    Default 20 Pine Street: It's Party Time

    All Benefits are not created equal:

    It's time to shindig at 20 Pine. LMCC Benefit:"Games People Play" Nov. 8, 2006 at 6pm.

    This looks like another Grand Party sponsored by the LMCC. Please be generous.

  14. #29

    Default 15 Broad Street

    Dropped by last week to take a look at the apts. There are about 160 apts occupied. Some of the lofts are going for less $750 per sf and the 2+ bedrooms are around $1,000 per sf.. That's cheap? I've also noticed a greater amount of apts on sale at 15 Broad... Are the re-sellers getting worried? Fire sale??

  15. #30 Front_Porch's Avatar
    Join Date
    Jul 2006
    Manhattan 90210


    15 Broad has 326 apartments, and it looks like about 40 are for sale, not an unusual percentage for new construction where there may have been some speculative interest.

    In my experience, those sellers are pretty sophisticated, and if they're not getting their price on a sale, they'll just rent and hold -- especially downtown, where the bet is the neighborhood improves as the Freedom Tower goes up, a new elementary school goes in, etc.

    So if you want a "fire sale deal" on that building, you're probably more likely to get it by negotiating a favorable term for a two-year lease than for a purchase.

    ali r.
    {downtown broker}

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