Tag: staten island real estate

Mini-megaproject to get an ‘upper-upscale’ hotel @trianglequities @Westin

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screen_20shot_202016-09-12_20at_2010-00-53_20am-0via Curbed – Staten Island’s mini-megaproject Lighthouse Point just got another major addition. Developer Triangle Equities is partnering with Starwood Hotels & Resorts to bring a 175-room Westin Hotel to the North Shore. The hotel will be built as part of Phase 2 of the overall Lighthouse Point project, which is being built in St. George at a cost of $231 million.

Construction on the first phase is already underway and will see the creation of 65,000 square feet of office and retail, as well as a 12-story rental building with 115 apartments. Twenty percent of the apartments will be permanently affordable. As part of that project, over one acre of the waterfront will become publicly accessible, and will be used for concerts, food festivals, and art exhibits. There will also be a 300-space car parking garage.

The new hotel, the Westin New York Staten Island, will come in the second phase, and is expected to be complete by mid-2019. The second phase will also see the rehabilitation of four historic buildings and underground vaults at the site, and one of these will be incorporated as an amenity space for the hotel once restoration work is complete. This restoration will allow for about 30,000 square feet of retail, restaurant, and office space.

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#Progress

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New York Wheel-thumb

via Curbed.com – Construction on what will become the world’s tallest Ferris wheel is moving along in Staten Island, and Untapped Cities got a chance to visit the construction site this week. Foundation work at the site got underway in June, but earlier this month it was revealed that the New York Wheel’s opening had been pushed to April 2018, from the previously scheduled opening in 2017.

Once complete, the $580 million Wheel will stand 630 feet tall, surpassing the current tallest wheel, the Singapore Flyer. While on their tour, Untapped Cities also got some new details on the New York Wheel project.

The designers at S9 Architecture described a “stiletto heel” foundation that will anchor the wheel deep into the bedrock. Additionally, a 950-car parking garage will be located across from the base of the attraction. That garage will come fitted with a six-acre green roof, a restaurant, a concert venue, and a playground.

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Why is #statenisland ignored?

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ROMAN BABAKIN/SHUTTERSTOCK

via Thrillist – Have you actually been to Staten Island? Like really been to Staten Island? If you’ve taken the Ferry to St. George only to make a U-turn inside the terminal and get on the same boat to go back to Manhattan, then NO, you haven’t. Many are guilty of it, but why do we treat Staten Island this way? Why not leave the terminal, walk around a bit, have a bite to eat, and maybe (dare I say it) even look for an affordable apartment out there? Living and working on Staten Island for 10 years has given me some insight into the Forgotten Borough, including why New Yorkers treat it like the redheaded stepchild of the city, and why we should be paying a little more attention to it. First, let’s get the negative out of the way…

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Us v. Them: Hotel Edition

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RENDERING OF EMPIRE OUTLETS, INCLUDING THE HOTEL AT THE TOP.

via The Commercial Observer – When you think of Staten Island, you may not think of packed hotels with tourists banging down the doors to get into them. But the borough’s hotels are faring well compared with their counterparts in other boroughs.

The hotel occupancy rate in Staten Island was 67.9 percent for the first half of this year, up 18 percent from the same period last year, according to data provided to Commercial Observer by STR, a hotel data and analytics company. In Richmond County, the average daily room rate, or ADR, reached $127.23, a 6.2 percent increase from a year ago. The revenue per available room, or RevPar, surged 25.3 percent to $86.37. Demand rose 11.7 percent to 95.59 percent and overall revenue increased 18.6 percent to $12.2 million.

In Manhattan, meanwhile, occupancy only ticked up 0.2 percent to 83.9 percent while the ADR dropped 3.9 percent to $254.72 and RevPar went down 3.7 percent to $213.60. In Queens, the occupancy rate crept up 1.1 percent to 81.1 percent, and RevPar rose 2.4 percent to $140.62. In Brooklyn, the occupancy rate dropped 5.3 percent to 73.1 percent, ADR rose up 1.8 percent to $163.75 and RevPar dropped 3.5 percent to $119.75. (“In order to protect the confidentiality of individual property data, we require a certain number of hotels reporting performance data in order to run a report. We have that in S.I., not the Bronx,” a STR spokesman said.)

James Prendamano, a managing director for Staten Island brokerage Casandra Properties, said the positive statistics were not surprising.

“The fluctuation in the dollar over the past year has sapped tourists buying power,” Prendamano said.“As the tourists seek better value across the board you will find them electing to stay in locations that offer a reduced price point. Staten Island and Queens offer this option while remaining directly connected to Manhattan. Staten Island has seen the most growth… as they offer the most attractive ADR. … It’s simply a direct result of tourists seeking more of a bang for their buck.”

He continued: “The second factor that I think cannot be overlooked is [New York City Economic Development Corporation]’s efforts over the past several years raising awareness in the outer boroughs under their new New York platform. The mayor and his respective agencies are seeing results as they travel the world educating would-be tourists on the wonderful cultural, hospitality, shopping and entertainment options that had previously been overlooked by future travelers.”

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Rezoning the North Shore

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staten-island-ferryNorth Shore car repair shops could give way to 16-story buildings, 6,000-plus residents

via Crain’s New York –

The de Blasio administration’s plan to rezone 45 acres of Staten Island’s North Shore aims to encourage new housing, including affordable housing, but it has some residents concerned that an influx of newcomers will strain an area of vacant storefronts.

The rezoning proposal centers on 14 blocks along Bay Street, from Victory Boulevard to Sands Street and from Van Duzer Street to the Staten Island Railway tracks. It includes five nearby city-owned lots and a two-block area around Canal Street to the southwest.

It calls for as many as 2,569 apartments (1,039 of them affordable) and 595,454 square feet of commercial space. Buildings could rise as high as 165 feet, or 16 stories.

That stretch of the Bay Street corridor is currently zoned for manufacturing and primarily comprises auto repair shops, gas stations and warehouses. More than one-fifth of its storefronts are vacant, according to media reports. This is where Eric Garner died from a police choke hold in July 2014.

Residents agree rezoning could improve the area, just south of the Staten Island Ferry terminal, but some fear the affordable housing won’t be affordable enough and warn that more residents will overburden sewers and roads.

The housing would push the residential population in the rezoned area to 6,911 from 32, and the number of people who work there could rise to 2,673 from 1,434, according to city studies.

“Has anyone researched the ancient sewer system?” asked Nicholas Scilari, chairman of the local community board. “How much flow can it handle?”

Scilari said the city has yet to adequately address this and other potential challenges. “Maybe they’re working on it, but we would just like to know about that beforehand.”

Should the rezoning move forward, it would dramatically alter the character and desirability of an area unused to property trades—and unable, in the case of 365 Bay St., to draw tenants to new development.

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Is Staten Island Becoming The New Brooklyn With Construction Boom?

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8385647686_0b61c12106_bvia CBS New York – Staten Island is coming under a construction boom as the St. George section alone will be home to new apartments, restaurants and shops.

CBS2’s Elise Finch is asking if this means if Staten Island is about to become the new Brooklyn.

Staten Island is often called the forgotten borough, but that’s about to change as a new trio of waterfront construction projects is expected to attract millions of people each year to eat, shop sight-see and live.

“We’re going to upgrade it, make it more better, especially this area,” Staten Island resident Jonathan Trimarche said.

Brianna Benjamin of Staten Island said, “I think it’s good for the island itself and the community.”

Empire Outlet Center will feature 100 designer outlet stores and a boutique hotel.

The New York Wheel, a 60-story Ferris wheel patterned after the London Eye, will offer a birds-eye view of the city skyline.

And the Lighthouse Point Development, which broke ground Wednesday, will feature apartments, restaurants, shops, office space and outdoor entertainment space.

Brooklyn-based realtor Anthony Lolli said Staten Island’s new waterfront real estate will offer what you’d find in Williamsburg or Hoboken for less.

“You’re going to save about 20 to 25 percent, but they’re also giving you a ton more amenities and everything is brand-spanking new,” Lolli, CEO of Rapid Realty, said.

Longtime Staten Island residents said because of the new constructionother people are about to find out what they’ve always known.

“It’s in New York City, but it gives you more of a small-town vibe,” Timothy O’Toole said.

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Is Staten Island’s North Shore the next Hoboken?

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KATE RODAL Photo: SILive.com

via SILive.com – “The North Shore is the Hoboken of the future. You’ve never seen something like Urby on Staten Island before, and I think the developers landed a goldmine when they put URBY where they did,” said Kate Rodal, one of the first residents of  URBY Staten Island.

That “goldmine” is the work of Dave Barry, CEO of the Hoboken-based Ironstate Development. It’s not the first time Barry has gone into a less desirable neighborhood, built a state-of-the-art complex and watched the area transform into an urban hot spot.

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“I think Urby is the shot in the arm that is going to revive the North Shore. …The North Shore of Staten Island has the potential to be linked to the cultural landscape of New York City. People went to Williamsburg and Hoboken and then to places like Long Island City. …Staten Island’s North Shore is a part of that same story,” said Barry.

“Stapleton is in need of revitalization. It’s an area that has been plagued by crime and general lack of amenities and quality retail. Urby is a sizable project and it’s just the type of thing that will bring new people to the area,” he added.

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“Officers Club” Up for Grabs

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largervia DNAInfo – An Army building that’s more than 80 years old could become a new office or commercial space under a National Parks Service plan.

NPS released a request for proposals Friday for a tenant to take over Building 109 at Fort Wadsworth, commonly referred to as the “Officers Club,” for a variety of uses including office space, headquarters for a not-for-profit and commercial space.

“Fort Wadsworth is a hidden gem in Staten Island,” Gateway superintendent Jennifer T. Nersesian said in a statement.

“Leasing Building 109 is an opportunity for adaptive reuse of this historic building and also may be a way for more people to discover this great cultural and natural resource.”

The “Officers Club” was built inside Fort Wadsworth, a public park that still serves as a military base, in 1938 by the Army as part of an expansion of the site to serve supportive housing for permanent troops stationed there, according to NPS.

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Staten Island Mini City

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Building No. 8 of Urby Staten Island, which began welcoming tenants on March 21, as seen from a new city park that’s to open this spring. Credit – Emon Hassan for The New York Times

via C.J. Hughes/The New York Times – The developers of Urby Staten Island, a new rental complex now opening in Stapleton, hope to prove that the North Shore of the “forgotten borough” can have broad appeal, and maybe even be the city’s next hip enclave.

Getting people to move to Urby, which is on an isolated stretch of waterfront about a mile — and two stops on the Staten Island Railway — from the Staten Island Ferry terminal, may not be easy. But the Ironstate Development Company, the project’s developer, is dangling many creative extras: an olive oil shop; a large garden that will grow kale; and a chef-in-residence to teach you how to prepare it.

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Urby Staten Island is the first in a chain of similar developments planned for the region, including ones in Jersey City, Harrison, N.J., and Stamford, Conn.

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