THE Related Cos. will try an entirely different concept with its new Carnegie Hill apartment building by putting “for sale” housing at the top of its rental units.
“We are creating separate elevators but one lobby and one entrance,” said David Wine, Related’s president, of the new building at 215 E. 96th St.
Wine said when the 475-unit building opens in summer 2005, the combination of renters and purchasers will spread out the costs of the building’s services, which will include a garage, business center, swimming pool, children’s playroom and a large staff.
“We thought it was a good opportunity to segment the market between for sale and rental, and try a new concept that we think has a lot of merit,” said Wine.
The building is being designed by HLW, with Ismael Leyva handling layouts.
Related is also putting the finishing touches on its residential project down at the Cooper Union parking lot, at 26 Astor Pl., which is being designed by Charles Gwathmey of Gwathmey Siegel & Associates.
It should be in good company. Yesterday, Cooper Union selected innovative California-based architect Thom Mayne to design an architecturally significant building for its school of engineering, at nearby 46 Astor Pl.
The 200,000-square-foot academic building will be Mayne’s first city project and will be designed in collaboration with locals Gruzen Samton. The nine-story structure will be constructed on its own mini-block along the east side of Third Avenue, between Sixth and Seventh streets and Taras Shevchenko Place.
“We needed an architect to deliver on the extraordinary demands of this building on many dimensions, and also to deliver a significant building and reflect the extraordinary reputation of our school of architecture,” said Cooper Union President George Campbell.
After reviewing more than 200 firms and interviewing four, Mayne’s firm was selected over rivals Zaha Hadid, Kohn Penderson Fox and Rafael Moneo.
“The fact that it’s Cooper Union makes it all the sweeter,” said Mayne. “This is an opportunity to build an icon.”
He intends to start with a “black box” and “let the impetus come from the site circumstance, the culture of the institution and its pedagogical objectives and possibilities of promoting social interactive space for the students and faculty.”
OK.
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The Federation Employment and Guidance Service has decided to expand its 315 Hudson St. headquarters by an additional 25,000 square feet and extended its lease for another five years, to 2018.
In 1998, the FEGS lease won the Real Estate Board of New York’s deal of the year for its brokers. It’s continuing to pay off.
“They renewed 10 years early,” said Brian Waterman, who repped FEGS with Newmark cohort Barry Gosin. The organization also gave up some space at 161 William St. owned by the same firm, Jack Resnick & Sons, which was represented by Peter Resnick.
Yesterday was Waterman’s last day as chairman of the Young Men’s/Women’s Real Estate Association, and he turned over that post to Gregg Schenker of Murray Hill Properties.
John Grotto of ABR Colliers continues a long history of Grotto family involvement by becoming vice chairman.
Other board members include Roy Appel and Stacey Fabrikant of CBRE and David Brause of Brause Realty. Stan Kleger of Murray Hill Properties takes on the membership duties, while Alex Bernstein is secretary and Nat Rockett of CB Richard Ellis is treasurer.
Harry Macklowe will speak at the January luncheon.
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Speaking of Macklowe: Macklowe Properties has hired CB Richard Ellis to lease the GM Building at 767 Fifth Ave., with intentions of keeping the renewals and new office leases in the $110-a-foot arena.
Billy Macklowe told us the firm also hired its favorite lobby architects, Moed De Armas & Shannon, to work on several plans for the building.
Any decisions on public spaces will be made with City Planning, he added, avoiding questions about possible observation decks, restaurants, or revised plaza designs.
As for the fate of the FAO Schwartz lease, with the company in bankruptcy, Macklowe spun that query right back to us: What would we do with FAO’s lease? Our thought: Take it back, dump them, then break up the space and lease it for a gazillion dollars a foot to retailers clamoring for tiny niches on Fifth and Madison Avenues.
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Beth Israel-St.Luke’s-Roosevelt Medical Center has signed its 20-year lease for 86,000 feet on the 21st through 24th floors at 160 Water St., where it will move some of its administrative offices from 215 Park Ave. South.
Richard Feldman of Williamson Picket Gross worked for the family partnership that owns 160 Water Street Associates. Cushman & Wakefield’s Mike Burgio and Vice Chairman John Cefaly acted for the tenant.
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