Tag Archives: Manhattan

Crain’s Manhattan Borough President Debate

Crain’s New York Business will hold a Business Breakfast Forum on Wednesday, July 10, 2013, 8:00 a.m. – 9:30 a.m. at The Yale Club of New York City. Attendees will meet the candidates for Manhattan Borough President and hear the candidates answer questions from debate moderator Greg David, Crain’s columnist and director of CUNY Graduate School of Journalism’s Business Reporting Program.

The candidates will discuss:
– How they would spend the office’s capital and expense money
– How they would steer zoning and planning in Manhattan
– Their visions and top priorities for the borough

Confirmed candidates:
Council Member, Gale Brewer
Council Member, Robert Jackson
Council Member, Jessica Lappin
Julie Menin, Former Chair of Manhattan Community Board #1

To register for this event, visit Crain’s website.

Crain’s: Biz scrambles to weaken sick leave


Nancy Ploeger, President of the Manhattan Chamber of Commerce
Nancy Ploeger, President of the Manhattan Chamber of Commerce

Nancy Ploeger, president of the Manhattan Chamber of Commerce, is working with many business groups to weaken the paid-sick leave legislation that is making its way through the City Council. Crain’s New York Business reporter, Chris Bragg, spoke with Ploeger for the Crain’s Insider blog. He details her objections to the bill which are echoed by the five borough chambers.

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Juice company spouts growth gusher

Crain's New York Business logoThis story comes to us from Adrianne Pasquarelli, reporter for Crain’s New York Business. New York City based Juice Press is growing… fast. The company makes… this is from its website…  “incredible tasting 100% raw unpasteurized and Juice Press logo“made to order” smoothies. we use superfood ingredients such as spirulina, raw cacao, raw maca, and hemp seeds. we have an easy to follow juice cleansing program, an extensive all homemade menu of raw foods and desserts, and we are quite funny.” Love it already.

Click here to read Pasquarelli’s very good story.

Lower Manhattan the next tech neighborhood?

This story comes to us from Annie Karni of Crain’s New York:

Twenty firms, mostly in the technology field, have submitted plans to open offices south of Chambers Street and will receive city grants from $10,000 to $250,000, Crain’s has learned.

The city’s Economic Development Corp. this week is expected to announce the 20 finalists in a competition for $1.25 million to rent space on Manhattan’s southern tip.

The city hopes to draw a critical mass of firms, spurring a tech migration to the Sandy-socked area.

“Startups like to go where there’s a cluster,” said Jonathan Bowles, executive director of the Center for an Urban Future. “It’s very communal, and they like to be among people like themselves.”

The funds are provided jointly by the city and by the Lower Manhattan Development Corp., a city-state agency created after the 9/11 attacks. Now that agenda includes recovering from Hurricane Sandy.

Digital finalists

The finalists—nearly all tech companies—were chosen from more than 300 applicants. Five will each receive $250,000 toward opening downtown; 15 will get $10,000 apiece with no commitment required.

Manhattan apartment prices fell as number of sales jumped in 2012

Apartment prices in Manhattan have reached their lowest levels in nearly a decade, according to a report by the Wall Street Journal.

In 2012, the report said, the median price to buy a Manhattan apartment was $835,000, which, adjusted for inflation, is the lowest since 2004. At the same time, Crain’s New York reported, the number of apartment sales reached its highest level since 2007.

Earlier this month, the New York Post reported that Manhattan rents had risen 1.5 percent year to year at the end of 2012, to an average of $3,973. The Post also said vacancy dropped from 2 percent to a measly 1.77 percent.

Fate of Barnes & Nobles’ 13 NYC stores at stake

Bookseller’s announcement that it will close as many as 239 stores nationwide over next 10 years raises questions. Chain boasts a half dozen big units in Manhattan alone.

Adrianne Pasquarelli posted the following story for Crain’s New York Business:

Barnes & Noble LogoThere will be a lot fewer old-fashioned books in the Big Apple over the next decade. Barnes & Noble announced Monday morning that it is planning to prune between 189 and 239 stores by 2023, from its current total of 689. Local real estate brokers speculate that some of those locations will be in New York City.

According to a Barnes & Noble spokeswoman, however, the sellstore has not changed its rate of store closures. She notes that the chain has historically closed about 15 stores per year over the last 10 years.

“Barnes & Noble has great real estate in prime locations and the company’s management is fully committed to the retail concept for the long term,” she said, though she declined to comment specifically on the future of the company’s Big Apple fleet.

The ongoing cutbacks come as the giant Manhattan-based bookseller, continues to face stiff competition from everyone from Wal-Mart Stores Inc. to e-books. The chain boasts 13 locations in the city, including a half dozen large outposts in Manhattan. While Barnes & Noble’s Union Square lease, for around 62,000 square feet, does not come due until 2036, according to CoStar Group Inc., other outposts have earlier deadlines. The lease on the company’s 34,000-square-foot store at 555 Fifth Ave., for example, is up in two years, according to CoStar.

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NY’s first micro-unit apartments: bigger than a bread basket

The 55-unit building at 335 E. 27th St. will be the first residential property in Manhattan to be built out of pre-fabricated individual modules. Apartments will be less than 400 square feet.

This story comes to us from Ali Elkin of Crain’s New York Business:

New York City’s first micro-unit apartment building will be a modular design built by a team including Monadnock Development, Actors Fund Housing Development Corporation and nARCHICTECTS, Mayor Michael Bloomberg announced Tuesday. The building will be the first modularly-constructed residential property to rise in Manhattan and will have units between 250 square feet and 370 square feet.

The development team is the winner of the adAPT NYC competition, which drew 33 entries. The winning team will design, construct and operate a 55-unit building at 335 E. 27th St. The project is called My Micro NY. Current zoning laws that prohibit micro-units will be waived for the project.

“If the pilot is as successful as we think it will be, it will help make the case for regulatory changes,” Mr. Bloomberg said.

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NYC cuts red tape for businesses

Manhattan Chamber of Commerce Nancy Ploeger Applauds Move

Crain’s reporter Ali Elkin reports on four bills signed by Mayor Michael Bloomberg that “are designed to help businesses recover from Superstorm Sandy, reduce red tape, and land city contracts for firms owned by women or minorities. Another bill raises taxes in seven business districts.”

he owners of certain buildings damaged by the storm will have inspection fees waived as they rebuild. Structures that were designated by the Buildings Department to have been seriously damaged in the storm (generally with a red placard) will eligible for waived application, permit and inspection fees for alteration, demolition and construction, plumbing and electrical work, as well as other types of associated work. Fee waivers will be available for plumbing and construction work in buildings with less severe damage. The waiver is in effect until October for construction and until April for plumbing and electrical work.

Manhattan Chamber of Commerce President Nancy Ploeger cheered the measure.

“Anything that works in favor of reducing paperwork and decreasing inspections (not related to immediate health) is a positive for both the businesses and the communities,” Ms. Ploeger said via email.

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