Giving Hope Through Urban Real Estate Development to New York City Neighborhoods

Urban renewal generally referred to as revitalization of land in different areas of moderate to high-density urban land use. Over the year’s urban renewal has become based on more renovation and investment than on destruction.

New York City’s landscape is now becoming a-thing-of-the-past with deteriorating and dilapidated buildings and landscapes in many neighborhoods. Joe Sitt, an investor in real estate, the founder of Ashley Stewart, a retail chain, Town Residential, a brokerage firm in Manhattan, and Thor Equities, has invested in the cause for renewing the irreparable urban squalor that was once the neighborhood.

The Center for Urban Real Estate is the moving force behind this rejuvenation and they now have numerous amounts of builders and banks to help with the projects. Goldman Sachs’ Urban Investment Group has invested $26 million for the renovation of Golden Heights.

Cook and Fox Architects along with the Durst Organization have completed a project of a Front Street landmark that now looks like it will become a tourist mecca once again.

The Carnegie Corporation, the Center for Urban Real Estate and a Columbia University professor and real estate development expert have been instrumental in revitalizing Lower Manhattan.

Many well-known celebrities have been involved in the urban real estate development program in their own homes and their former neighborhoods. People like Tyra Banks, Jon Bon Jovi, Gwyneth Paltrow, Madonna, Brooke Shields, Harrison Ford, and news anchorman Anderson Cooper have renovated their own dwellings, spending their own money to help set a precedence for the future neighborhoods.

In the heart of New York, between 10th and 12th Avenues from West 30th to West 34th, you will find Hudson Yards. For decades Hudson Yards was isolated by a massive open rail yard but is now being turned into a convenient neighborhood which with the introduction of the new mass transit will become the center of the metropolitan region. This will be a place for communications and art as well as a hub for fashion, and design. Hudson Yards is now the home of Google and other digital media and technology firms.

New York had a choice and they made an investment in the renewal of run-down neighborhoods that is paying for itself. Now there are new places to live and work, have a better life and has engendered hope for these neighborhoods that had long ago lost hope. Now they have a new and improved neighborhood in which to live and grow.

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Feb
14

Skyscrapers owned by New Yorkers

New York City is home to some of the tallest and most famous skyscrapers in the world. Not only are many of these buildings famous for their size and architecture, they are well-known attractions for famous visitors and tourist from all over the world. While many people may be familiar with many of NYC’s most famous skyscrapers, most have no idea who owns them. Here are a few facts about some of the New York’s most renowned skyscrapers and the people who own and visit them.

The Empire State Building

This is probably the most famous skyscraper in New York. Not only is this 1,454 foot building (ESRT) the place where King Kong climbed to meet his untimely death in both the 1933 and 2005 movies, it’s been visited by many celebrities. NFL running back Barry Sanders and music sensation Ashanti are just a few celebrities who had taken in views from atop this classic beauty. From 1931 thru 1970, the Empire State Building was the tallest building in the world and is considered one of the Seven Wonders of the Modern World by the Amercian Society of Civil Engineers. If you’re wondering who owns this classic icon of architecture, then you may be surprised to learn that the Empire State Building is not owned by any one individual but by Empire State Realty Trust.

The Chrysler Building

Rising to a height of 1.046 ft., the Chrysler Building has been an Art Deco part of New York’s landscape since 1930. The building was originally designed and built for the Chrysler Corporation but the corporation never paid for construction and Walther P. Chrysler opted to pay for the building thus becoming its first owner. The building has changed hands several times since 1930. As of now, The Chrysler Building has two owners: the government of Abu Dhabi which owns 90 percent, and Tishman Speyer Properties which owns 10 percent but continue to control and manage the property. The Chrysler Building has seen a lot of celebrity visitors since its construction back in 1930. Albert Einstein, George Bernard Shaw, and Queen Elizabeth II have all taken is views from this historic building.

One World Trade Center

The 6th tallest building in the world, One World Trade Center is a beacon for tourist and celebrities alike. Recently completed in 2014, this building is not only a powerful symbol of hope and rebirth to the American people following the destruction of the twin towers, it’s a marvel of modern architecture. The building has two amazing memorial pools dedicated to the 9/11 tragedy. WTC, which is currently owned by Port Authority of New York and New Jersey, has seen many rich and famous visitors such as Drew Carey, Charlie Sheen, and Mark Wahlberg.

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Feb
07