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Wednesday, February 7, 2018

Large Industrial Real Estate Firm Buys Warehouse in Maspeth

By now, you’re sure to have heard about Amazon’s fast delivery times — two-hour
delivery in some cases! Well, that kind of service is due to businesses being in close proximity to the people they’re delivering to, especially e-commerce businesses. That’s why more and more real estate firms are investing in warehouses — including Seagis Property Group which just purchased a large warehouse in Maspeth, Queens.


The Building
The warehouse is an 80,000 square foot, single-story building at 5700 49th Place with 28-foot ceilings and an on-site parking lot. These features, among several others, made the building valuable since:
  • The high ceilings allow tenants to store products more easily using vertical shelves.
  • The parking lot provides an easier way to load goods onto trucks to be delivered. 
The location is also convenient since Maspeth is in the center of the city, allowing the tenants to delivering to over eight million people within a 10-mile radius. Seagis purchased the building for around $23 million and is planning on investing $2 million to renovate the building.

The Firm

Besides this new building, Seagis also has 42 warehouse buildings near JFK as well as millions of square feet worth of industrial property in New Jersey and Southern Florida.

The firm currently rent four million square feet worth of space in New Jersey to Amazon for less than $10 per square foot, and they intend to rent this Maspeth warehouse for somewhere around $20 per square foot. Even with high prices and a tighter market, Seagis hopes to purchase three more buildings by the end of the year.

For more NYC building news, follow AMAA on Facebook and Twitter!

AMAA is your source for structural inspections, mechanical inspections, civil inspections, and architectural inspections in New York and the entire metropolitan area. With over 50 years of experience, we are known for both our high standards and specialized services. We have supported the work of some of the largest and most prestigious developers, retailers and more. Call us today at 212.867.6720 or visit our website for more information.

Thursday, February 1, 2018

Greenpoint's Next 40-Story Waterfront Tower is Finally Happening

Back in 2015, a project was proposed to transform a building on the Greenpoint
Waterfront in Brooklyn into a high-rise. Now three years later, the project is making
headway. What was once an abandoned warehouse will now be a  multi-purpose,
somewhat-affordable tower at 18 India Street.

PC: RedSky Capital

The Building:
Rendering received by YIMBY reveals a design which seems to stack the areas
used for different uses on top of each other, like building blocks, and will feature a
green-brick facade and large rectangular windows.

The Space:
At 40-stories tall, the tower will yield around 600,000 square feet of space. The plans
allot 100,000 square feet of space to be used for retail space, leaving the rest of the
space to use for potentially 500 to 700 residential units.

The Developers:
JZ Capital Partners and RedSky Capital are spearheading the project as of now,
while there hasn’t been any reveal of who the exact architect is.

The Construction Plan:
There has yet to be a date set for the project’s completion, but now that renderings
have been unveiled, the plans are surely moving forward.

For more NYC building news, follow AMAA on Facebook and Twitter!

AMAA is your source for structural inspections, mechanical inspections, civil
inspections, and architectural inspections in New York and the entire metropolitan
area. With over 50 years of experience, we are known for both our high standards
and specialized services. We have supported the work of some of the largest and
most prestigious developers, retailers and more. Call us today at 212.867.6720 or visit
ourwebsite for more information.

Wednesday, January 31, 2018

10 Hudson Yards Has Achieved LEED-Platinum Certification

As the Hudson Yards megaproject continues to grow, in both size and height, one
of the buildings, 10 Hudson Yards, has made history as it receives the United
States Green Building Certification’s highest rating for sustainable buildings
— LEED Platinum Certification.


The Building:

10 Hudson Yards contains a total of 1.8 million square feet throughout 52 stories,
offering high-rise premiere office space and ground-level retail space on the West
Side. It opened in May 2016 and is now fully occupied with around 6,000
employees, including those at major brands such as L’Oreal USA and SAP.

The Features:

Earning any LEED certification is not easy and there are a number of criteria a
building has to meet, with Platinum certification requiring the most features.
10 Hudson Yards boasts Platinum- level qualities such as:
  • 1.2 MW of gas-fired microturbines that generates power and treats waters in a way that is twice as efficient as other traditional systems.
  • A storm water retention that uses rainwater to irrigate the building’s terrace landscapes.
  • A 100% raised flooring that allows for improve temperature control and cleaner air.
  • Acting as the Operation and Energy Control Center that coordinates building performance.


Hudson Yards has already earned many achievements in the development and
construction, so having this building win a LEED-Platinum certification shows how
great building can be when it comes to sustainability.

For more NYC building news, follow AMAA on Facebook and Twitter!

AMAA is your source for structural inspections, mechanical inspections, civil
inspections, and architectural inspections in New York and the entire metropolitan
area. With over 50 years of experience, we are known for both our high standards
and specialized services. We have supported the work of some of the largest and
most prestigious developers, retailers and more. Call us today at 212.867.6720 or
visit our website for more information.

Monday, January 29, 2018

West Harlem Tops List of City Neighborhoods to Watch

Real estate listings firm, StreetEasy, has been analyzing the moving trends of those
city-dwellers who are moving from Manhattan to the outer boroughs to get an idea
for what neighborhoods are most attractive and why. According to NY Curbed, this year, a
surprising neighborhood has topped the lists of areas to watch — West Harlem.

What Goes into Deciding Neighborhoods to Watch

StreetEasy uses four factors to determine the rankings for their list. These include
areas that have the greatest:
  • Change in median rent
  • Change in median sales
  • Number of listing views
  • Amount of new construction undertaken over a year

Why West Harlem Tops the List

Located between Morningside Heights and Harlem Heights, West Harlem is in
the process of welcoming parts of Columbia University’s new Manhattanville campus, and, because of this, new residential as well as commercial buildings are being built throughout the area. In terms of real estate prices, the median home sales prices has gone up by 124% and the median rent prices have increased by 6% since last year. West Harlem also offers easy access to subway lines, making commuting easier for
residents.

What Option Areas Made the List.

The top 10 cities on the list include:
  1. West Harlem (Manhattan)
  2. Fort Greene (Brooklyn)
  3. Flushing (Queens)
  4. Elmhurst (Queens)
  5. East New York (Brooklyn)
  6. Norwood (Bronx)
  7. Prospect park South (Brooklyn)
  8. Chinatown (Manhattan)
  9. Brighton Beach (Brooklyn)
  10. Woodside (Queens)


AMAA is your source for structural inspections, mechanical inspections, civil
inspections, and architectural inspections in New York and the entire metropolitan
area. With over 50 years of experience, we are known for both our high standards
and specialized services. We have supported the work of some of the largest and most prestigious developers, retailers and more. Call us today at 212.867.6720 or visit our website for more information.

Monday, January 22, 2018

Coney Island is Getting a Development with 1,000 Apartments

As New York City continues to plan more and more building projects for its
waterfront neighborhoods, it’s no surprise that Coney Island is now getting a new
development at 1709 Surf Avenue.


PC: Prusik Group

The Developers
Prusik Group has partnered with Taconic Investment Partners to create to create this
development. The two groups are also working together the Essex Crossing
megaproject on the Lower East Side.


The Building
This project will encompassed three blocks in total and will create 1,000 new
apartments, 80,000 square of office space, and 150,000 of retail space. Even
though the large scale of the project will make the area more dense, it’s proximity to the D, F, N, and Q trains at Stillwell Avenue Station give residents easy access to Manhattan and Brooklyn.


The Design
The design will be more traditional than some current building spaces popping up
around the city, with the current plans featuring a red-brick facade and boxy silhouettes. This ends up giving the project a “breath of fresh air” feel among the many glass-facade buildings
around it.


The project is intended to be completed some time in 2020. For more NYC building
news, follow AMAA on Facebook and Twitter!


AMAA is your source for structural inspections, mechanical inspections, civil
inspections, and architectural inspections in New York and the entire metropolitan
area. With over 50 years of experience, we are known for both our high standards
and specialized services. We have supported the work of some of the largest and
most prestigious developers, retailers and more. Call us today at 212.867.6720 or
visit our website for more information.




Wednesday, January 17, 2018

Important Ways New York City’s Landscape Will Change in 2018

Now that we’re well into the start of the new year, we’ve had plenty of time to
reminisce on all the construction projects 2017 brought New York City. Now, it’s
time to get excited For all the ways NYC is going to change in 2018. From
construction projects to conservation efforts, the city is in for a great treat these
next 12 months.


Megaprojects

The new year will bring a number of new megaprojects to the city including:
- Essex Crossing
- The first phase of the Market Line
- The Rollins
- Waterline Square
- The Domino Sugar Refinery
- Hudson Yards

Transit

It’s no secret that NYC is in need of transportation improvement, so we’re happy to
hear that the MTA has announced an $836 million emergency action plans to
address some of the issues with the subway system. These plans include:
- Fixing 1,300 signals
- Cleaning the tracks
- Increasing the number of cars on trains (when it’s possible)
There are also plans to improve the bike infrastructure near the Williamsburg
Bridge and create protected bike lanes on 13th Street in a response to the L train
shutting down.

Rezonings

Mayor DeBlasio is continuing to rezone part of New York City throughout the year.
Several areas included in the plans are:
- Gowanus — plans are set to be released early this year.
- Jerome Avenue in the Bronx — set to create about 4,000 new apartments, 1,500
of which will be affordable.
- Inwood, Queens — aimed at creating new, ideally affordable, apartments.

Skyline

Several supertall buildings are continuing to be built or nearing completion this year.
2018 will bring:
- One Vanderbilt — at 1,401 feet — will likely open in 2020.
- 3 World Trade Center — at 1,079 feet — will open this year.
- Central Park Tower — at 1,550 feet — is set to open next year.

For more NYC building news, follow AMAA on Facebook and Twitter!

AMAA is your source for structural inspections, mechanical inspections, civil
inspections, and architectural inspections in New York and the entire metropolitan area. With over 50 years of experience, we are known for both our high standards and specialized services. We have supported the work of some of the largest and most prestigious developers, Retailers and more. Call us today at 212.867.6720 or visit
our website for more information.

Monday, January 8, 2018

CLT Materials Could Bring in a New Wave of Construction

The construction industry is starting to see a new wave of change in the form of CLT building materials. As the name would suggest, cross-laminated timber is several layers of timber fixed at right angles to each other and glued together. By using CLT, some industry professionals believe we could start seeing more and more construction projects move from being traditionally built to being built in a modular fashion.

The Pros of Using CLT Materials and Modular Construction

  • Building Accuracy: Since computer-based programs are very accurate, projects can cut down on the number of inaccuracies that can occur during building. Plus, making the pieces in a factory lets you put complete systems, such as plumbing and electrical, in place in advance.
  • Building Time: Using CLT and modular construction can trim down the time it takes to complete a building project. That extra time can be translated into rent, making for a better return on investment.
  • Reduced Long-Term Cost: CLT can be used to manufacture buildings that are tolerant to certain conditions, making them better quality and easier and cheaper to maintain.

The Cons of Using CLT Materials and Modular Construction

  • Limited Labor Force: In many areas of the country, labor forces are generally migrant and don’t have to be specifically trained. In order to work with CLT and modular construction technology, workers would need specific training, and not many workers have those skills readily available.
  • Differences in Building Codes: The changing building codes that vary from city to city can sometimes defeat the purpose of using standardized modular construction. Different areas have different requirements for homes, meaning one CLT model won’t fit every city.

For more NYC building news, follow AMAA on Facebook and Twitter!

AMAA is your source for structural inspections, mechanical inspections, civil inspections, and architectural inspections in New York and the entire metropolitan area. With over 50 years of experience, we are known for both our high standards and specialized services. We have supported the work of some of the largest and most prestigious developers, retailers and more. Call us today at 212.867.6720 or visit our website for more information.