New tower gives residents exclusive app that controls NYC spire colors
Residents of a new Queens rental can soon light up the city that never sleeps Sven, a 958-unit Durst Organization property in Long Island City — where 288 apartments are income-restricted — will offer a dazzling amenity far beyond the typical luxury-market trappings of a screening room, a gym and a pool. When leasing soft-launches on Monday, Sven will become the first building in New York where residents can illuminate the tippy tops of city towers — such as the 300-foot spire at One Bryant Park in Midtown — with just the tap of a finger. Every tenant will receive…
Date 2021-11-18
Author Zachary Kussin
2021 Commercial Observer Owners Magazine: Douglas Durst, Chairman at The Durst Organization
Starting about seven months ago, or so, there was a prevalent belief that the worst of the pandemic was behind us We had a vaccine. There was a rollout plan. Jabs were going into arms at a pace (at first) that was the envy of the developed world. Companies confidently predicted that we’d get back in our offices by Labor Day, and many were readying themselves for the greatest nationwide blockparty to hit the U.S. since VJ Day. What the hell happened? Out of the furthest reaches of the internet crawled paranoia, fear, and such a wild distrust of science…
Author Commercial Observer
Durst accuses MTA of stalling East Harlem development
Lawsuit: East 125th Street sites sat vacant while talks dragged on
Date 2021-11-15
Author Akiko Matsuda
Sven Completes Construction At 29-37 41st Avenue In Long Island City, Queens
Construction is now complete on Sven, a 762-foot-tall skyscraper at 29-37 41st Avenue in Long Island City, Queens. Also known as Queens Plaza Park, the 67-story tower is designed by Handel Architects for The Durst Organization and will yield a total of 958 rental units with interiors designed by Selldorf Architects. Three hundred units are set aside as affordable housing. Hunter Roberts is the general contractor and Jaros, Baum & Bolles Engineering administered the mechanical systems for the project, which is bound by Northern Boulevard to the east, Queens Plaza North and Dutch Kills Green to the south, and 41st…
Date 2021-11-09
Author Michael Young
Vornado, Trump Refinance 1290 Avenue of Americas With $950M CMBS Loan
JPMorgan Chase, Citigroup, Goldman Sachs and Bank of Montreal have teamed up to originate $950 million in debt to refinance Vornado Realty Trust and Donald Trump’s Midtown skyscraper at 1290 Avenue of the Americas, according to ratings agency analysis of the deal Months after Vornado reportedly wanted to buy out Trump’s 30 percent stake in the 43-story asset, following the the end of his presidency and the Jan. 6 insurrection attempt, the pair have nabbed a long-awaited refinancing, Bloomberg reported, citing recently released data from Kroll Bond Rating Agency (KBRA). JPMorgan Chase took down roughly $475 million, or half, of…
Date 2021-11-09
Author Mack Burke