Real Estate Wire: Residential Developers Pulling Out of the Game; Rockaway Boardwalk Renewal Delayed

By Diane Pham

October 3, 2014

Real Estate Wire: Residential Developers Pulling Out of the Game; Rockaway Boardwalk Renewal Delayed

Related Companies is the latest landlord to ask property managers to turn in tenants for listing their apartments on AirBnb. [TRD]
Another potential residential development site in Tribeca could fetch $50M. [Crain’s]
A Hudson Yards strip club may be turned into a 46-story residential tower. [TRD]
Are too many luxury buildings being constructed? Some developers are opting to dial things down, while others are pulling out completely. [NYT]
Efforts to rebuild the Rockaway Boardwalk have been delayed for a redesign that will address local concerns about access to the waterfront. [DNAinfo]
53,000 artists want to live in a 90-unit East Harlem apartment complex. Once a school, the building is being converted to a live/work space as a hedge against gentrification. [Crain’s]

Images: Diagram via NYT (left); Rockaway re-design (right)

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$50M penthouse is the last residence available at the Upper East Side’s famed Surrey Hotel

By Aaron Ginsburg

Manhattan's famed Surrey Hotel is making a comeback. Following bankruptcy proceedings, new owners, and a renovation, the 100-year-old Art Deco landmark at 20 East 76th Street on the Upper East Side reopened last month as a condo hotel, with 100 hotel rooms and 14 condos, part of the Surrey Residences. Now, after a whisper sales campaign, just one remaining apartment is about to hit the market: a three-bedroom duplex penthouse asking $50,000,000. The sprawling residence, the building's most expensive, offers 5,195 square feet plus 2,346 square feet across three terraces and a private rooftop.
tour the penthouse