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Wedmesday August 21, 2013
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| Midtown East Rezoning Includes $465 Million in Grand Central Improvements |
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BY BILLY GRAY
One major point of contention in the proposed rezoning of Midtown East is the effect significantly taller skyscrapers would have on the neighborhood’s already congested infrastructure.
The City Planning Commission attempted to assuage some of those fears this week when it announced that Grand Central Terminal would receive $465 million in upgrades should the plan be approved.
To read the full story, click here.
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| Patrick Arangio Named Youngest VC in CBRE Capital Markets Group |
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BY AL BARBARINO
Patrick Arangio, 34, of CBRE’s Capital Markets’ National Loan Sale Advisory Group, has been promoted to vice chairman.
The 13-year industry veteran becomes the youngest vice chairman in the capital markets group, which has 700 members and 21 vice chairmen in the Americas, a company spokesperson confirmed.
To read the full story, click here.
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| Comptroller DiNapoli Pushes Investment in Silicon Alley |
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BY GUS DELAPORTE
As part of New York’s ongoing promotion of Silicon Alley, State Comptroller Thomas DiNapoli yesterday announced investments in two New York-based tech companies. Both RebelMouse and Coopkanics have received venture funding through the In-State Private Equity Program, from SoftBank Capital, an investment partner of the New York State Common Retirement Fund.
“The state pension fund is reaping the rewards of its commitment to New York City’s Silicon Alley,” Mr. DiNapoli said in a prepared statement. “This round of funding for RebelMouse and Coopkanics was made possible in part by previous Fund investments in technology startups. These commitments will help them continue to develop and grow right here in New York.”
To read the full story, click here.
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| Exploring Dumbo: Then and Now |
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BY ROBERT SAMMONS
No, I’m not calling you out. And this isn’t a Disney movie review.
As most New Yorkers know, Dumbo is an acronym for Down Under the Manhattan Bridge Overpass. When compared to many New York City acronyms, it has been around for quite some time—since 1978, in fact—and refers to an area in Brooklyn.
The Dumbo borders are generally thought of as the East River to the north, the Brooklyn-Queens Expressway to the south, Bridge Street to the east and Main Street to the west.
Back in the 18th and early 19th centuries, it started out as residential but evolved to consist of almost exclusively manufacturing and warehouse space (as one might expect from an area near a major river). Most of the buildings were constructed of a brick façade with steel, with reinforced concrete coming later in the late 19th and early 20th centuries.
To read the full story, click here.
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