Battery Park
Hotelier Sam Chang Snags Another Site
Voracious hotel developer Sam Chang has acquired yet another piece of Manhattan.
City records show that Mr. Chang's Great Neck, N.Y., company has paid $27 million for a building at 6-12 Water Street.
According to PropertyShark.com, the 21,000-square-foot building includes a two-story McDonald's -- quite appropriate for the McSam gang.
Developers Say They Can’t Build Green
This Guy Wants You to Love Atlantic Yards

Spitzer, Silver and June O'Neill
Another legislator who attended the get-together said that talk among the rank and file eventually turned to who would be the next Democratic State Party chair and that the name of June O'Neill, the St. Lawrence County chair, came up as a possibility.
How many others are realistically in the running for the position?
Update: O'Neill may be one of three people to head the state party, according to this Times Union article.
--Azi PaybarahMunicipal Art Society Gives Prognosis for Atlantic Yards
"I don't think this project is substantially designed in its later phases," he said, pointing out that it could be a decade before construction begins on much of the housing and retail space even if the ESDC rubber stamps the project this winter. "Battery Park City and Riverside South got redesigned several times before they got built," observes Barwick.- Matthew Schuerman
It Ain't Over 'Til It's Built
"I don't think this project is substantially designed in its later phases," he said, pointing out that it could be a decade before construction begins on much of the housing and retail space even if the ESDC rubber stamps the project this winter. "Battery Park City and Riverside South got redesigned several times before they got built," observes Barwick.-Matthew Schuerman
The Afternoon Wrap: Thursday

A new BP condo
- It will take $310 million to build a 152-unit condo south of Battery Park City. On the plus side, the building may get a "platinum rating" from the Green Building Council's Leadership in Energy and Environmental Design program. One block away, the Ritz-Carlton is shaking in its un-green (but expensive) boots. [Multi-Housing News]
- The only thing better than Thanksgiving in New York with your mammoth family is eating by yourself in an expensive restaurant. If you're solo on the 23rd, try Cafe Gray (it'll cost $500), or Daniel ($125) or Zoe on Prince Street (only $59!). [Resident]
- E.B. White and Jenny Holzer helped Philip Nobel come to terms with Ground Zero. But he still sees the future plans as "not what anyone would call brilliant." [Metropolis]
- Brooklyn has finally proved its artsy chops, winning over Interior Design Magazine and even Gaggenau as sponsors for its borough-wide design fest. Bring your leopard-skin stools, and your tight black pants. [I.D.] - Max Abelson read more »
Countdown to Bliss

Countdown to Bliss

Countdown to Bliss

Tuesday: Brooklyn Oil, the Green Terminator, Naked Maggie?

Arnold salutes NYC? [Deider]
- Schwarzenegger has taken Mayor Bloomberg into his warm, shapely bosom--but it's Governor Pataki that Arnold takes to see Battery Park City's Solaire, the green 27-story tower finished in 2003. (NY Times)
- The Brooklyn Paper officially apologizes for their semi-nude photo of Maggie Gyllenhaal: "Its placement on Page One was inappropriate and not in line with our standards." That's her neighborly house warming present. (BP)
- Developer-cum-"preservationist" Aby Rosen, the most stylish man in the real estate biz, says "the Upper East Side has lost a little bit of its progressive luster." But is his Lord Foster-designed tower the solution? Answering that question is going to leave "a lot of blood on the floor." (NY Sun)
- After 56 years, 17 million gallons of spilled oil, and 50 carcinogenic acres, Senator Schumer comes to the aid of Greenpoint. Exxon Mobil still doesn't care. (NY Times)
- Next month, New York's 21st Park Avenue Armory show will assemble 65 dealers for "Modernism: A Century of Style & Design." Stylishly, the show will preview Richard Meier's On Prospect Park. Grab your name-brand $6 million apartments early! (Interior Design) - Max Abelson read more »
Events for October 3-4, 2006
Tomorrow, Shelly Silver speaks at the Association for a Better New York Breakfast at the Ritz Carlton New York-Battery Park.
The U.S. Court of Appeals will hear an argument from lawyers representing a Muslim man who is suing federal officials for alleged abuse and mistreatment suffered while in federal detention. Christine Quinn and Eric Gioia discuss a new City Council report on prescription drug price disparities on the steps of City Hall.
Minuteman Project founder Jim Gilchrist speaks to students at Columbia University. Meanwhile, immigrant rights supporters will protest his speech outside.
Andrea Stewart-Cousins and David Paterson announce their Albany reform plan at Yonkers City Hall.
John Faso will attend the American Wind Energy Association Wind Power Finance and Investment Workshop at the New York Marriott Financial Center. Later, he will host a Town Hall Meeting in Bay Ridge.
Liz Kruger hosts a fundraiser.
—Nicole BrydsonEvents for September 30-October 2, 2006
John Faso attends the Congress of Racial Equality Festival in Union Square before heading over to the Yonkers River Festival.
The Red Cross holds a forum on the basics of international humanitarian law and the Geneva Conventions.
By The People, a non-partisan documentary on what it takes to put on an American election, will show at 2pm at the Impact Festival.
The New York State Young Republicans take a trip to Pennsylvania to campaign for Rick Santorum. On Sunday, Spike Lee, LA Reid and Oprah's Friend Gayle attend Al Sharpton's Birthday Party at the PM Lounge.
On Monday, David Paterson will be added to the Village of Hempstead's new Wall of Fame.
—Nicole BrydsonRingler's Letter
The whole thing, apparently, started with Ringler asking if Thompson wanted to contribute any money from Battery Park City revenue, which the Comptroller helps oversee, "to meet shortfalls on some of the broad infrastructure costs for the construction of streets and sidewalks in and around Ground Zero, and to provide access to Battery Park City."
Apparently, that last bit is a reference to the underpass under West Street.
The BPC funds were supposed to go towards affordable housing but until recently have just been used for New York City's general budget.
Ringler notes, "We agreed with you that much of this fund should be used for housing, but if you want to make a positive contribution to the rebuilding effort, you could help release some of those funds toward rebuilding."
Affordable housing versus rebuilding Ground Zero: two noble issues no one wants to get on the wrong side of.
What's odd here is how two of the most mild-mannered figures in government are getting nasty.
Here, in PDF, are letters one, two and three.
-Matthew Schuerman
Comptroller Can't Stay Away from Ground Zero
And tomorrow everyone was supposed to come together and break ground me on the memorial (for the second time).
-Matthew SchuermanGoldman to Buy Embassy Suites B.P.C.?

A DE source, noting that the building is "really ugly," said that Goldman will "likely either demolish the building or change its facade .... "
Goldman recently began construction on its new $2.4 billion headquarters across a pedestrian walkway from the hotel. read more »
Events for June 3-5, 2006
Same-sex marriage proponents march across the Brooklyn Bridge and rally in Battery Park.
Develop Don't Destroy Brooklyn host a benefit concert at Hanson Place Central United Methodist Church.
Geraldine Ferraro will be honored by Marymount Manhattan College.
Hillary Clinton makes a major announcement with environmental groups at the Town Dock of Manhasset Bay.
Tim Bishop presents military medals to local veterans at the Patchogue American Legion.
Nicholas Spano announces he's running for re-election at the Polish Community Center in Yonkers.
The Independence Party holds its state nominating convention in Colonie.
On Monday, New York Women For Hillary Clinton host a fundraising luncheon at the Hilton.
Democratic Leadership for the 21st Century of New York's Eye on 2008 Series continues with Mark Warner.
And this isn't exactly a listing, but... We're with Ben. —Nicole BrydsonIt's Urinetown 2006: Green Architects Use Heads of the Future
It’s Urinetown 2006: Green Architects Use Heads of the Future
The Real Deal?
Our limited understanding of tax law, however, makes us think the tax issue is a moot point: the station will become state property, which is only subject to local taxation under special arrangement with the city (as with Battery Park City).
Steven Spinola, president of the Real Estate Board of New York, said he saw Related’s president Steve Ross yesterday. “He was very happy,” Spinola told us, without confirming the deal had been signed. Howard Rubenstein, who is repping Related, said, “Both Related and Vornado will have no comment about that report.” He said they will have no announcement tomorrow either.
The silence is deafening.
-Matthew SchuermanStarbucks, Microsoft … Nordstrom?
The high-end retailer has reportedly eyed many properties throughout Manhattan throughout the years, to no avail; if built, the Battery Park City location would be its first store here. read more »
But don't hold your breath: Nordstrom's flack says there's nothing in the works.
-Matthew GraceThursday: It's All About Math and Perception
- What is "normal" when it comes to the real estate market? (National Association of Realtors)
- Mr. Burdett, a professor of architecture and urbanism at the London School of Economics and an adviser to the mayor of London asks at the 10th International Architecture Exhibition for the Venice Biennale, "Is it possible to make new civic centers, new housing, which make people's lives hell...buildings that can provide the possibility of a more integrated society?" (The New York Times)
- Leland D. Stone is a "problem-solver: handyman, butler, professional fixer. He finds the answers to household problems. (The New York Times)
- Apparently, it's time to build that summer garden. (The New York Times)
- The editor in chief of newly minted Cookie magazine shares her Park Slope brownstone with family. (The New York Times)
- Buy author Anne Rice's fork and napkin. (The Walk-Through)
- Barbara Corcoran calls the South Bronx "the last housing frontier"--on "Good Morning America" no less. (ABC)
- The Wall Street Journal takes a look at the Frank Gehry-designed and Barry Diller-suupported new IAC headquarters. (via Curbed)
- Graffiti as poetry. (Gothamist) And in related news, poet and artist De La Vega has opened up shop on St. Marks Pl and 1st Ave.
- A new and "green" building, designed by Cesar and Rafael Pelli, will be erected in Battery Park City. (New York Post)
- "A lack of confidence in the Downtown office market" has lead to the lowest number of square feet leased in the neighborhood since 1992. (The Real Deal)
- Mathematically decide: rent or own? (Center for Economic and Policy Research)
- The city and state settled a plan to upgrade sewage-treatment plants that have released an excess of nitrogen into the Long Island Sound and Jamaica Bay. (New York Post)
- While the CEO of Disney, Michael Eisner, has decided he doesn't have enough time to dedicate to the WTC Memorial Foundation board, Governor Pataki pledged $80 million for the site's visitors center and exhibition space. (New York Daily News)
- At a ceremony that transferred six city-owned buildings for a buck each to 10 cultural institutions that are members of the Fourth Arts Block, Mayor Bloomberg earned a new title: honorary lesbian. (Politicker)
- Design and architectural shapes can be used to describe other things, like the shape of government. (Harper's Magazine)
Goldman Rising
--As The Observer has reported, Goldman only wanted to return to Battery Park City if it could be guaranteed that the city and state would get its act together on security. The lease stipulates that authorities have until December 31, 2009, to come up with a security plan for the World Trade Center area, or Goldman gets back the $161 million it is paying for the 64-year lease. The deadline may be extended by three months if the city “is proceeding with all necessary diligence.” One day after that, Goldman gets its money back. Goldman is going to put the money into escrow by February.
--Just how much power Goldman has over the authority is unclear. The document never assigns the bank explicit authority to approve or reject it. But a July 29 letter to Goldman from James K. Kallstrom, Governor Pataki’s special adviser on counter-terrorism, gives the bank the right to “participate in the review” of the plan three times during its development—and also to help select the consultant who will draft it. Once the plan is finalized, Goldman can “participate in the substantial implementation of the plan.” A July 21 letter from city Police Commissioner Raymond W. Kelly says Goldman will get a seat at a “centralized coordination center.”
--It is still vague what will be in the plan. The Kallstrom letter says, “The full range of protective systems components, equipment, staffing, construction and operational procedures.”
--Goldman is planning to rim West Street near its property with a series of bollards—hitching posts strong enough to stop truck bombs.
--As for financial incentives, the lease shows that city reduced Goldman's property taxes by about 12 percent since the original deal was struck a year ago. (To get technical, these aren’t property taxes per se, but payments in lieu of taxes, since Goldman is leasing state-owned land that is normally not taxed.) read more »
--Goldman will get to count 65 percent of its contract employees—i.e. temps and freelancers—as regular employees to qualify for the $250 million or so worth of economic incentives. That number cannot top a quarter of all the bank’s regular workers. Goldman has pledged it would keep 8,100 workers in the city.
--Matthew SchuermanFine Print
"Despite the hearing notice (in six point font in the New York Post's classified) some Politicker readers may not know there's a public hearing for the proposed subsidy to Goldman Sachs for its new headquarters in Battery Park City.
"Yes, yes, the Mayor, the Governor and the Assembly Speaker announced the deal's been approved. But, don't be fooled! There has to be a hearing, which is scheduled for next Wednesday. Sadly, the law doesn't require the State to release any documents on the deal before the deal. "
Because, if Goldman Sachs doesn't need a billion and a half dollars in public money, who does? read more »
Details on the deal here.In City Security Squabbles, A Banker Restores Order
Being Green: It Is Easy!
The nice thing about building green in Battery Park City is that the Governor comes to cut your ribbon.
Not that you'd need the publicity.
When Pataki stopped by Tribeca Green early yesterday, "New York's Most Environmental Rental" had already leased 80 percent of its 274 units (starting at $2,500 for a 600-square-foot "junior one-bedroom"), and half were already occupied, according to brokers for the developer, The Related Companies.
Whether the filtered air, photovoltaic panels (capable of generating 5 percent of the building's energy), cogeneration and recycled storm water is responsible for the quick selling remains to be seen. But all this green gobbledygook, which is supposed to reduce energy consumption by 30 percent and earn the Robert A.M. Stern-designed edifice a gold LEED rating, ultimately is figuring into the rent. Construction costs were 18 percent higher than they would be otherwise, according to Related President Jeff Blau.
That's much higher than the typical green premium of 1 to 5 percent, by the way, but it hasn't stopped Related from embarking on green buildings in Chicago and Boston, which, unlike the Battery Park City Authority, don't require environmentally friendly measures. read more »
- Matthew SchuermanThe Great Fantastic Four Premiere Debacle
Members of the press were herded in Battery Park, then boated to Liberty Island. A red carpet parade happened. (For the record, Seventeen editor Atoosa Rubenstein's name appeared on the tip sheet of celebs. It's not that Ms. Rubenstein isn't famous, but... well, it's a bit like listing Mr. Pibb alongside Coke and Pepsi, if you follow. Still, to the organizer's credit, snacks were even provided for the reporters, which is something The Transom has never, ever heard of.) read more »
Most of the press, of course, were not allowed to actually attend the film, so they were put back on a boat to Manhattan. But ten minutes into the screening, which was delayed until shortly after 10 p.m., apparently the projector broke. A note from our reporter Adriane Quinlan:The reporters on the boat were treated to the sight of screening attendees scrambling below to board the press boat, so as to not be stranded on Liberty Island for an unknown amount of time. "Forget them, pull the plank!" said a publicist. Meanwhile, celebs themselves crushed unhappily onto the press boat, which took off promptly, leaving flurrying celebs below like so many Titanic victims. Jessica Alba stood bravely in the prow of The Transom's boat, unwilling to speak to the hordes of media types who surrounded her.Much, much, much more on this endlessly enjoyable story in a bit. —Choire Sicha
Virginia Responds
We like the title:
Spending the Budget Surplus -- Rebutting the Ben Smith BlogHere's what they have to say:
"Paying Down Debt
"We proposed spending $600 million per year if fiscal conditions permit- $400 million for debt reduction and $200 million to put additional capital spending on a pay as you go basis.
"Affordable Housing
"We proposed annually producing 10,000 new units and restoring 8,000 more. One thousand of these units would be created through mandatory inclusionary zoning. The remainder would cost about $900 million annually. However, this is offset by about $100 million from the Battery Park City surplus. So, the net expenditure is $800 million annually. read more »
"Savings from the Debt Service reduction and Medicaid cost containment that we have proposed would total, conservatively, $400 million by 2009. So, our housing proposal would have a net cost after these savings of $400 million annually.
"Bottom Line: The total net cost of our debt reduction and affordable housing initiatives would be $1 billion dollars annually, well within the amount of recent budget surpluses. We are not spending the same money twice."












