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(NYPost)   New York building construction to top $30B for first time since 2008, according to study, and that's just for one studio condo described as a "real fixer-upper"   (nypost.com) divider line 19
    More: Interesting, New York, building permits  
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1650 clicks; posted to Main » on 18 Oct 2012 at 11:03 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-10-18 09:31:08 AM
How man Ground Zero mosques is that?
 
2012-10-18 11:04:58 AM
So the terrist are now job creators? Who knew?
 
2012-10-18 11:05:13 AM
Tom Hanks and Shelly Long must have moved into town
 
2012-10-18 11:10:06 AM
New York's alright, if you like saxophones...
 
2012-10-18 11:14:57 AM
The headline is funny because apartments in NYC are expensive LOL!
 
2012-10-18 11:18:00 AM

sodomizer: New York's alright, if you like saxophones...


=============

New York's alright if you wanna get pushed in front of the subway
 
2012-10-18 11:18:46 AM
The only reason construction costs are so high is because of the damn union labor!

/So says the guy reading the Herald at Dunkin Donuts
 
2012-10-18 11:19:17 AM
The best thing for politicians is that since jobs have gone down there will be inevitable delays which means the amount spent will roll over to the next year meaning there will always be higher projected amounts for construction costs! And I'll get to work 12 hours a day trying to get everyone else's attention on my project!
 
2012-10-18 11:21:29 AM

tommyl66: The only reason construction costs are so high is because of the damn union labor!

/So says the guy reading the Herald at Dunkin Donuts


===========

And you know whose fault that is, don't you? Obama.

This would all get a lot better if we only had binders full of ho's.
 
2012-10-18 11:28:46 AM
Yeah, no snark in this post, but urban development is my passion! It was freaky to see all the construction of buildings in places like Williamsburg and Long Island suddenly STOP, half finished in 2009. This was mainly due to banks not giving loans at the time, even to developers (understandably).The past year has been amazing though, cranes are up and new buildings are flourishing. I work new construction marketing and operations, and I thank my dear heavens I was able to take over my new construction's building management and keep myself employed during the past few years. It's been a tough few years though, with a lot of pay cuts.

The fact of the matter is there is limited supply in New York City (not just Manhattan) and the quality of life is so much better here than it was even just 20 years ago. NYC is still a good investment. Rentals are doing incredibly well, and the sales market is still quite strong.

I also went to NYU and it was interesting to realized that it is almost more of a real estate company than a university. When the market crashed in the late 80s and early 90s, NYU bought huge chunks of land in prime neighborhoods and invested it into the college, making it a top school. When you look at a map of lands owned by the school (but have nothing to do with the school), it is pretty amazing just how much is owned by NYU. They are doing the same thing to the brand new Brooklyn campus. Within 3 years of buying this prime but incredibly underused and underdeveloped property, they've turned it into a gorgeous neighborhood and campus.

/would love to work for the NYU developement team
 
2012-10-18 11:38:18 AM

Lollipop165: Yeah, no snark in this post, but urban development is my passion! It was freaky to see all the construction of buildings in places like Williamsburg and Long Island suddenly STOP, half finished in 2009. This was mainly due to banks not giving loans at the time, even to developers (understandably).The past year has been amazing though, cranes are up and new buildings are flourishing. I work new construction marketing and operations, and I thank my dear heavens I was able to take over my new construction's building management and keep myself employed during the past few years. It's been a tough few years though, with a lot of pay cuts.


I'm kind of new to construction, but has it been common for the developers to ditch the loan process and just go for any and all investors? I'm in fairfield county and my cases in point are restaurants my CM firm have been putting up. First off, the developers went for an existing unused space so they could get tax credit (pretty smart especially because it was a space in a residential condo). Then they asked us to provide them with all the contact info for our subcontractors. Thats within reason, but we then found out that approached them with investment options for the restaurants. Essentially they couldn't pay us so we couldn't pay our subs. They got money from our subs, to pay us, so we could pay our subs. I just didn't expect it to happen like that.
 
2012-10-18 11:38:28 AM

Lollipop165: Yeah, no snark in this post, but urban development is my passion!


I have to admit that suburban/rural live is my passion. Since you described yourself as being equally passionate about urban centers, can you answer a couple of fundamental questions for me? (I could do the same if you had any interest)

For some time now I've been puzzled by people who prefer city life. I've lived in and around cities before but I've never really liked them. Have you ever flown over a city at night? To me there is little that is more depressing than seeing all of the lights destroying the night sky.

So my question for you is simple- How do people live satisfying lives when they are cut off from nature?
 
2012-10-18 11:59:44 AM

Leeds: Lollipop165: Yeah, no snark in this post, but urban development is my passion!

I have to admit that suburban/rural live is my passion. Since you described yourself as being equally passionate about urban centers, can you answer a couple of fundamental questions for me? (I could do the same if you had any interest)

For some time now I've been puzzled by people who prefer city life. I've lived in and around cities before but I've never really liked them. Have you ever flown over a city at night? To me there is little that is more depressing than seeing all of the lights destroying the night sky.

So my question for you is simple- How do people live satisfying lives when they are cut off from nature?


vibrancy, things to do, interesting local shops and eateries, diversity of people.
 
2012-10-18 12:07:29 PM
Am I the only one who finds it disturbing that the sign of an economic recovery is building more stuff to crowd the city, increase taxes and jam even more people into smaller spaces?

I use, as an example, my neighborhood. As a kid, there was only one other house on the wooded block, plenty of forest, plenty of peace, low crime and low traffic. Now, 35 years later, 95% of the forest is developed into homes. The noise level has soared, traffic is high and there are problems starting up due to so many houses with septic tanks being crammed into an area where the water table is shallow.

Light pollution at night has stolen much of the previously wonderful vault of stars, people blast down the now paved roads 24/7, water wells have been discontinued and you're required to hook up to the city water supply which has been extended out this far.

You get to hear people noises all day long, including booming car stereo systems and the plethora of yard tools powered by those screaming gas engines.

Crime is up. Your neighbor really doesn't give a krap if he makes a racket and disturbs you. Property taxes have exploded. Folks call code enforcement on each other for the slightest perceived infraction -- meaning we just about need a satellite office here.

All of this due to 'beneficial construction', which is supposed to be, in many instances, a good economic indicator. However, the cost in local resources and services needed to maintain these areas has exploded and folks now get bills for stuff they used to get for free. (Like ambulance service.) The local COL has just soared.

The streets, once fairly easy to navigate, tend to be crowded and often under repair or construction.

So, I guess this is a good thing. Right? (As I load my rifle and pistols over the roar of the kid next door showing off his car engine and the blast of 'shiat' rap rattling my windows from behind my place.) Right?
 
2012-10-18 12:28:34 PM
Damn that Obama! How are we supposed to elect Romney if the economy continues to improve?
 
2012-10-18 12:30:47 PM

Leeds: So my question for you is simple- How do people live satisfying lives when they are cut off from nature?


In a big city, people like the fact that they are surrounded by art, architecture, and people. That's what makes someone like me tick. I'd get bored too easilly in someplace too rural. I like the gogogogo of a big city.

But when I leave the city, I like to go as far away as possible - preferably to the deep jungle when going abroad but otherwise I go waaaay upstate or the Poconos in the summer to enjoy wildlife. I'm a huge nature lover. I like to camp, I like to fish, I like bonfires, and walking through streams collecting crayfish and catching frogs and whatnot.

In fact, it is really suburbia that I don't like - the lack of nature plus the lack of city life I think is a horrible way of life.

Have you ever flown over a city at night? To me there is little that is more depressing than seeing all of the lights destroying the night sky.

The only thing more beautiful to me than a starlit night is the bright lights of a city: the the height of human culture, society, and engineering.

thecpt: I'm kind of new to construction, but has it been common for the developers to ditch the loan process and just go for any and all investors?


Investors are a huge part of the equation, always. However, in Manhattan (where I do most of my work) it is nearly impossible to just work through private investors since the costs are far too high to just go that route, even with tax credits (I work in mostly areas that offer tax credits for new construction). Besides, it is generally bad business to just go through the investors because loans are always more negotiable and new constructions always cost more than planned. Usually developers work with investors AND banks.

Regarding that particular situation, it sounds very odd that they would try to get investors through subcontractors... it seems to me like they couldn't find "real" investors so they tried to just find anyone which can be incredibly risky on both sides. I'm not familiar with smaller market real estate, but it sounds to me like these "developers" aren't particularly professional. Could be wrong though.
 
2012-10-18 12:39:30 PM

Rik01: Am I the only one who finds it disturbing that the sign of an economic recovery is building more stuff to crowd the city, increase taxes and jam even more people into smaller spaces?

I use, as an example, my neighborhood. As a kid, there was only one other house on the wooded block, plenty of forest, plenty of peace, low crime and low traffic. Now, 35 years later, 95% of the forest is developed into homes.


The area I went to high school in this happened to as well. But the fact is, it is local ordinances that allow for new development. My old neighborhood is completely ugly now with these awful McMansions while the town over that didn't allow such things still looks more or less like it used to.

The reason this is a sign of economic recovery is that jobs are to be had in NYC and hence people need to move here.

BTW, adding more people to a city generally lowers taxes, not increases them. That's why NYC's property taxes are so low (by area standards). Also, the reason for new development is so people won't be jammed into ever smaller spaces. What you might be referring to is the construction of condos. Condos are actually built as an affordable option for people to live in high demand areas, thereby allowing economic diversity in neighborhoods.
 
2012-10-18 12:43:31 PM

Lollipop165: Leeds: So my question for you is simple- How do people live satisfying lives when they are cut off from nature?

In a big city, people like the fact that they are surrounded by art, architecture, and people. That's what makes someone like me tick. I'd get bored too easilly in someplace too rural. I like the gogogogo of a big city.

But when I leave the city, I like to go as far away as possible - preferably to the deep jungle when going abroad but otherwise I go waaaay upstate or the Poconos in the summer to enjoy wildlife. I'm a huge nature lover. I like to camp, I like to fish, I like bonfires, and walking through streams collecting crayfish and catching frogs and whatnot.

In fact, it is really suburbia that I don't like - the lack of nature plus the lack of city life I think is a horrible way of life.

Have you ever flown over a city at night? To me there is little that is more depressing than seeing all of the lights destroying the night sky.

The only thing more beautiful to me than a starlit night is the bright lights of a city: the the height of human culture, society, and engineering.

thecpt: I'm kind of new to construction, but has it been common for the developers to ditch the loan process and just go for any and all investors?

Investors are a huge part of the equation, always. However, in Manhattan (where I do most of my work) it is nearly impossible to just work through private investors since the costs are far too high to just go that route, even with tax credits (I work in mostly areas that offer tax credits for new construction). Besides, it is generally bad business to just go through the investors because loans are always more negotiable and new constructions always cost more than planned. Usually developers work with investors AND banks.

Regarding that particular situation, it sounds very odd that they would try to get investors through subcontractors... it seems to me like they couldn't find "real" investors so they tried to just find anyone ...


this, I love living in a city, HATE the suburbs, and love going to the country.

suburbs are probably the worst thing in america.
 
2012-10-18 01:35:38 PM

this, I love living in a city, HATE the suburbs, and love going to the country.

suburbs are probably the worst thing in america.


Pretty much this; anyone who's worried about bigotry in the sticks should go to the suburbs. I can make a choice between (most) large cities and the countryside. But the 'burbs? I'd rather jam a sharpened stick in my eye
 
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