Real Estate Weekly News

1. Amazon 2nd HQ → Possibly Queens Sunnyside Yard in NY, Edison in NJ  Direct investment of $5 Billion will create 50,000 jobs with earning more than $100,000 salary Any candidate must submit the proposal by 10/19/2017 Total more than 50 cities are in the race NY (Queens Sunnyside Yard): 180 Ac/ 5 miles form LaGuardia Airport and 15 miles from JFK Airport / LIRR / Metro North Train connects to...

1. MoMA (Museum of Modern Art) → New Landmark  'MoMA Tower' at 53 West 53rd St Architect, Jean Nouvel (72) designed. 1033 FT / Diagrid Method used. 1st ~5th FL → Museum / Up 82nd floor → Condo(1 ~5 Beds, full floor APT, duplex penthouse) Will completed in end of 2018 / move-in will be 2nd half of 2019 2. Cornell University Tech Center opens at Roosevelt Islands in NYC on 9/13/2017  At...

1. Super size Water Park in Palisades Park, NJ will be constructed 102,000 SF around the current 'King Sauna' → will complete in May, 2019 Whole block between West Fair Street and West Central Blvd Those retailers on Commercial Blvd moved out in early this month New Water Park includes Children pool, Sliding pool, Aqua pool, Snack bar, Massage room, 1000 locker rooms 500 Parking spaces. 80,000...

1. 'Restaurant Week' in Fort Lee, NJ this week 9/14 (Thursday) ~ 9/17 (Sunday) 54 Restaurants will be participated (13 Korean owned Restaurant) Organized by Alliance of Fort Lee Up to 40% discount with coupon for lunch and dinner For coupons at www.bdaftlee.com/flrw 2. 'New Millennium Bank' opens at Palisades Park Branch office, NJ Opening ceremony on 9/12 at 136 Broad Ave, Palisades Park,...

1. 'Flushing Commons' in Flushing, NY completed 98% for 1st Phase Residential project (17 Stories) is completed almost at 138-35 39th Ave, Flushing At 16th floor, Penthouse (1,588 SF, 3BR,3Bath) will go for $1,998,000 Developers: F&C Group, Rockefeller Group, AECOM Capital 1st Phase consists of 17 story mixed building (14 floors: Residential) and 12 story Office Condo (38-08 Union St) 2nd...

1. War on Hess Property in Edgewater, NJ is heated up Between lot owner/developer 615 River Road Partners LLC and the town Fair Share Housing center is favoring for the developer proposal Director of NJ Sierra club is favoring town's proposal (River Road is not moving now) The lot (18.7 Acre) was appropriated for $25 Million for eminent domain→ Developer said it is well below the market price...

1. Manhattan Central Post Office building becomes Transportation hub James A. Farley Post Office building renovation faces the 2nd phase It will become Moynihan Train Hall 250,000 SF transportation hub / 700,00 SF restaurant, retail Central Post Office will be connected to Pen Station through under path for LIRR and AMTRACK (9 Platforms and 17 rail roads) Total cost: $1.6 Billion → 2500 full...

1. Palisades Park, NJ Town Hall will move to new location At 27 Fairview Street by Eminent Domain (Proposal made on 7/25) Eminent Domain decision will be made on 8/22 2.43 Acre Lot owned by 2 Korean → Purchased at auction at $3.94 Million in 2008 → valued at $6.5 Million 10 years ago → Town is in the process of appraisal New town hall → Admin, Police station, Fire Department, Gym, etc....

1. Former Hess terminal in Edgewater, NJ will become mixed use complex? Plan is to build 1872 unit residential and retail complex (8.7 ACRE on River Rd) ←→ Town wants to seize the property through eminent domain The developer (615 River Rd Partners) is ready to the Mayor (Michael McPartland) and other town officials Will appear before the board on 9/12 to request multiple variances (height,...

1. Robbery in 'Trio' condo on 12th Street in Palisades Park, NJ  Around 11:20pm on 7/26 (Wed), Gunman followed Korean resident in the elevator Right after Korean woman left elevator at 3rd level, gunman asked the bag and fled Korean resident was concentrated on cell phone and did not noticed suspicious approach Trio condo is with 24 HR doorman 2. Super Spa/Sauna in K-town, Manhattan 'K-town...