Japan Practices “Stealth Demolition”

There is a certain raw excitement to watching a building be demolished. It’s watching the colossal amount of force and explosives typically reserved for action movies being used in real life to unmake something right in front of us, but with that excitement comes a certain level of danger.

Demolitions go wrong more frequently than most people would like, with newsworthy tragedies as recent as August. Japan seems to have found a way to dismantle buildings that minimizes damage and maximizes safety.

Japanese architects have developed a technique to dismantle buildings floor by floor as the structure is slowly scrapped. The effect is subtle, and it appears that the structure is shrinking on its own as time passes.

A spokesman for the technique’s inventor, Taisei Corporation, said the technique resulted in much more reusable material from the old building and was a much greener practice than traditional demolition. The practice is also much less disruptive to the area around the structure, as the building looks intact (but smaller) over an extended period and work being done from the top down is typically covered so as not to be visible from the street.

Japan is a somewhat unique case in that they suffer from both a glut of office buildings and a lack of space, but the “stealth demolition” technique is an alternative for dense metropolises where loud demolition is impossible to do safely.

An Update on Cosmos Stadium

Soccer has never been in the United States what it is to the rest of the world, but the New York Cosmos are hoping to change that. After commanding a dominating presence during the 70’s the team disbanded due to lack of American interest in soccer but the Cosmos brand was never forgotten, only faded. They recently made a triumphant return by claiming the North American Soccer League 2013 Soccer Bowl.

The team celebrated their victory at the Theodore Roosevelt Executive and Legislative Building in New York on Wednesday, where State Senator Jack Martins brought attention to the possible construction of Cosmos Stadium. “The RFP (Request For Proposal) is being reviewed, the RFP has been reviewed since January 2013…personally I think they’ve had enough time to review, it’s time for them to make a decision,” Martins said.

We recently talked about Cosmos Stadium in our earlier post, but the recent NASL win combined with strong support from a US Senate member helps revitalize the project. Completion of the stadium is expected to cost around $400 million (privately funded) but construction income alone is expected to $500 million while generating thousands of jobs.Annual income upon the stadium’s completion is expected to be $200 million from stadium operation, tourism and retail outlets attached to the project.

The proposal was jointly submitted by the New York Cosmos team and local real estate developer Carl Mattone.After a decades long slump, soccer appears to be on the upturn in America and approval of Cosmos Stadium would go a long way towards extending New York’s cultural brand.  The remaining brand strength of the Cosmos already gives them a head start and their recent NASL run proves that they’re not bad at the game either. New York City seems to have a lot to gain with the approval of the stadium.

Prodigy Adding 8 Story Penthouse To 17 John Street

After its acquisition of 17 John Street from Metro Lofts earlier this year, Prodigy Network announced that they plan to add an unusual glass penthouse on top of the already existing building. The addition would be 8 stories, and with the addition the total height would come in at 23 stories high.

While certainly eye catching, the proposed full glass addition certainly clashes with the original brick building raised in 1926. The changes coincide with Prodigy’s plans to change the building into a long-stay hotel rather than a permanent residence.

The glass topper is still a ways away from reality however, as the developers report having just begun filing permits with the city’s Department of Buildings to get permission for the project.

Designed by architect Winka Dubbeldam, the project would add a rooftop pool and relaxation area in addition to an undisclosed number of new units for the hotel. You can get a look at concepts in the promotional video here.

New York, New Jersey Highest Property Taxes In America

New York recently earned the dubious honor of having some of the highest property taxes in America, according to a residential property tax survey from the Tax Policy Center. Of the three counties that charge the highest annual property tax, two came from New York and one from nearby New Jersey. Westchester County, NY ranked first, reporting $9,647/year with runners up Nassau County, NY ($9,080/yr) and Bergen County, NJ ($,8,893/yr).

On the other end of the spectrum, Alabama and Louisiana were found to have some of the lowest property tax with many counties below $250/yr. Though nobody likes being taxed, surveys found that Americans were particularly leery of property tax and 42% marked it as “least fair tax” when asked in 2005.

That said, the study did note that higher property tax can have its benefits as counties that tax more tend to have higher spending on education and other beneficial programs. The home prices of a county may also be generally higher, resulting in a higher property tax due to more assessed value.

NYC Development Continues To Recover

Good news for New York City development, as continuation of previously stalled projects continues to rise. The number of stalled sites has dropped 12% from a high of 709 in 2010 to 610 in 2013, according to a report from the New York City Department of Buildings. Manhattan saw the most improvement with a drop from 122 stalled sites in 2012 to 90 in 2010.

The changes are speculated to be due to a greater willingness from customers to spend on luxury developments, most likely a reaction to the gradual recovery of the real estate economy.

Notable restored projects in the last year include Silverstein Properties’ 30 Park Place, a combined luxury residence and hotel approaching 700,000 sq ft, and the eye-catching “jenga” tower 56 Leonard, developed by the Alexico Group. The architecture firm responsible for 56 Leonard, Herzog and DeMeuron, is well known for their “Birds Nest” stadium used for the Beijing Olympics, and plan to leave their mark with 56 Leonard as the tallest building in the Tribeca area.

New York Office Demand Shifts to Budding Tech Startups

One of the upcoming difficulties for mayor elect Bill de Blasio will be adjusting to the real estate demands of an industry shifting from law and business to technology. New York developers are pushing for de Blasio to support office spaces that will appeal to the tech and creative start-ups that are becoming more and more numerous.

Image courtesy of Pete Bellis via flickrcc

The ideal office space going forward seems to be middle to small sized and favoring cost efficiency, rather than the large but expensive business hubs that used to be more commonplace. Former president of the New York City Economic Development Corporation Seth Pinsky stated that a solution “partially lies in the traditional existing business centers, but it can’t be entirely accommodated in these areas”.

Mr. Pinsky and many others believe that additional development will become a necessity to house the companies of the future. A spokesman for de Blasio stated that he would support development for more modern office spaces, but did not give any details on what that support would entail.

Astronomical Rent Drives New Yorkers To Mobile Homes

New York’s position as most expensive city in the country has caused some residents to find unconventional methods of living. An article from the LA Times documents several individuals who have decided to purchase and live in second-hand recreational vehicles rather than deal with astronomical rent.

Interviews with two RV dwelling citizens revealed a surprising amount of benefits. Besides the obvious cost-saving measures, you can fit a surprising amount of normal living functionality into an RV. Solar panels and fire hydrants can provide electricity and running water, and amenities that are not available can oftentimes be driven to. One RV dweller had two flat screen televisions and wireless internet using his phone as a hotspot.

According to the article, the average rent in New York was estimated to be $3,105, compared to $1,480 for Los Angeles residents and $2,133 for San Francisco. As a fairly new development, there is debate on the legality of dedicated RV living. A spokeswoman from the city’s Law Department stated that she knew of no city laws specifically addressing the issue. Though the local DMV does track the number of RV’s in the area, there is no distinction between the vehicles used as mobile homes and those sitting in suburban driveways.

You can read the full story here.

Would You Rather Have A Daycare Or A Rooftop Beach?

Just how important is it to have a pool in your building? A recent survey from the Marketing Directors found that fitness related amenities such as gyms and yoga rooms are the current favorite of New York City luxury residents. But the demand for various amenities is frequently subject to ebb and flow from a lot of different factors.

Many luxury condo residents have favored “practical” amenities over “entertainment” ones, and high rises developed in the last decade responded. The relatively recent Azure luxury residence, developed by the DeMatteis Org and Carl Mattone, offers an interesting spin on offered amenities. Though lacking the obligatory swimming pool, Azure has a more family oriented suite of amenities, notably a fully stocked playroom for small children and several upscale dining areas. While not particularly flashy, they are versatile and serve vital, routine functions that tend to be more utilitarian than having a bowling alley downstairs.

Despite this, there is evidence that the trends are changing in response to the still-recovering real estate economy. A recent New York Post article found that offered amenities are starting to backlash and enter the realm of absurd extravagance. Several luxury residences such as 101 Bedford Ave, developed by Halcyon Management, are found to offer up to 50,000 sq feet of amenities, including a recording studio, a golf simulator and a rooftop beach.

As the luxury real estate market continues to improve, competition between developers to attract residents has risen with it. Amenities are eye-catching and represent the go to method of filling vacancies, making them susceptible to trends. As the market continues to improve and the upper class finds more money to spend, we can likely expect amenities to become more innate as well. 

HBJ Exclusive: Energy company snatches up former Dow site in Westchase

HARtbeat

Shaina Zucker, Houston Business Journal

Cameron International Corp. (NYSE: CAM) recently purchased the former Dow Chemical Co. (NYSE: DOW) site in the Westchase District, according to Harris County Appraisal District documents

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Graffiti Mecca 5Pointz To Be Razed In December

The legal battle to save the 5Pointz graffiti monument seems to have come to an end. The owners of 5Pointz, Jerry Wolkof and his son David, have until recently allowed artists to use their building as a graffiti site. However, the Wolkofs have drafted city-approved plans to construct two high-rise residential buildings on the property and are moving to have 5Pointz demolished by the end of the year.

The building has a long standing reputation as a center of the graffiti scene that has seen worldwide attention from artists. A small but dedicated legal movement led by artist Jonathan “Meres” Cohen has developed in an effort to save the building.

Photo courtesy of David Shankbone via flickerCC

Federal judge Frederic Block made a ruling on Friday that he could not legally grant an injunction that would have saved the building, though he stated that he does “love the work and it’s going to tear my heart out to see it torn down.”

Block suggested submitting an application to the Landmark Preservation Commission to have 5Pointz recognized, but the commission rejected the application. City law requires that a site be at least 30 years old to be considered for landmark status, and the LPC found the graffiti to be too recent to qualify.