Real Estate Wire: New Images of 432 Park Ave Under Construction; Battle of the Penthouses

• To power up the vast $18 billion Related Companies project at Hudson Yards, the developers are looking to off-grid electrical systems. However, being green may also mean having to pay out more green. ConEd’s standby tariffs are canceling out any benefits for both big and small buildings alike. [Crain’s]
• The managers of the Empire State Building have asked a judge to dismiss a lawsuit that claims they deprived early investors of more than $400 million in profit when landmark went public. [Crain’s]
• A $48M Tribeca sky loft with 360-degree views is on course to hit the market. Broker team Tal and Oren Alexander are so confident that they’ve got the best listing in town that they are challenging Ryan Serhant, the broker/holder of the $118M Ritz Cartlon combo to a “Penthouse Challenge”. [NYDN]
• Manhattan’s riskiest development deals: The priciest land buys of the last year and how they stack up next with nearby condo sales prices. [TRD]
• A new floorplan for the ritzy Stella Tower penthouse has been released. [Curbed]
• Ashkenazy Acquistion is eyeing a Washington Heights building. They’re currently in contract for nearly $40M for a 40,000-square-foot commercial property owned by a group of 15 families who have had the building for more than 50 years. [TRD]
• Critics are afraid that the Mayor De Blasio wants to turn industrial zones like Gowanus into housing. [Brownstoner]
• 1,000 apartments could be built atop the East River Plaze [DNA Info]
• It’s old news that 432 Park Ave. passed its 1,000 foot mark, but these images of the building meeting its milestone are brand new. [Designboom]

432 Park (left); $48M Tribeca Loft (right)