4B — February 27 - March 12, 2015 — Owners, Developers & Managers — M id A tlantic

Real Estate Journal


O wners , D evelopers & M anagers

EW YORK, NY — On Thursday, Janu- ary 22, 2015, Pro- Annual Developers Forum moderated by Lois Weiss PWC Forum – Developers see enormous opportunities for the future of NYC N

and, through creativity, add value.” Laura Rapaport , senior vice president, L&L Hold- ing Company LLC , is the project director for 425 Park Ave., which will be the first full block office development on Park Avenue in almost 50 years. In 2012, Norman Foster was selected in a design competition to create the office tower, which breaks ground in May. The lobby will have soaring 45 ft. high ceilings; making it one of the tallest office lobbies in the city. Above the lobby, double height office spaces with 14 ½ foot finished ceil- ings and floor to ceiling glass walls, float over Park Ave. The penthouse will be a col- umn-free glass cube with 360 degree views, which include the entire expanse of Cen- tral Park. The LEED Gold building will have a 100-car garage and car lobby private and exclusive to the tenants in the building. “There’s nothing like this anywhere in midtown,” said Rapaport. “There is clearly a desire for beautiful, new, glass spaces, with an infra- structure that can support the technology requirements of today’s business and now we can offer the best of both worlds in the heart of the city.” Jay Valgora, AIA, AICP, LEED AP , principal, STU- DIO V Architecture , spoke of the tremendous oppor- tunities available from the City’s waterfront focusing on the East River which he de- scribed as “the Central Park of the 21st century, the new center of New York City.” He described five mixed use and residential projects designed by STUDIOV. The projects at Hallets Point, Astoria Cove, Hellgate and West Cove will integrate waterfront parks and new residential commu- nities that incorporate afford- able and market rate housing and a new water taxi stop to be extended and funded by the City. “These projects will create a continuous series of pub- lic spaces and sustainable communities to create the future of the East River,” said Valgora. “We have an op- portunity to tie together the boroughs in one large vision that is central to the future of New York City.” n

ing on the adage that “traffic is everything,” she is cur- rently focusing on Turn-Style which will go underground at Columbus Circle, bring- ing a new quality of retail to transit retail. Fine said, “We have se- cured tenants of a qual- ity consistent with Grand Central, with excellent food options (from vegan to arti- sanal pizza) and a number of unique New York busi- nesses.” OasesRE, she said, focuses on unique projects across asset class, “wher- ever we can find a bargain

most nimble. Andrea Kretchmer , managing director, POKO Partners, LLC , specialists in affordable housing and non-profit partnerships, and principal at The Kretchmer Companies LLC , spoke of current POKO projects. In Stonington, CT, an his- toric former mill is being converted into loft spaces; in Norwalk a mixed use development will include 100 apartment units, 12,000 s/f retail space and a 200 car self-park garage; in the Bronx, POKO is completing

moderate rehab of its first HUD Section 8 project on Belmont Ave.; in Brooklyn, POKO recently completed an adaptive reuse project that houses a charter school and ground floor retail within 150,000 s/f. The pipeline stays busy as POKO remains “tethered to New York City and works with several non- profits.” Susan Fine , principal, OasesRE and developer for Turn-Style , successfully redeveloped Grand Central Terminal into a retail hub for the MTA 20 years ago. Rely-

fessional Women in Con- struction (PWC) launched its 35th year with a Devel- opers Forum, the latest in an ongoing annual series of seminars moderated by New York Post columnist Lois Weiss . The event was held at The General Society in New York City. Weiss said “One has to be nimble to succeed in this highly competitive market- place,” and thereupon intro- duced a quartet of the City’s

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