January 23rd - January 27th, 2012

iPhone Robbing Spree Foiled

January 23 -- A 15-year-old Jersey City boy was arrested last night in Lower Manhattan for stealing an iPhone on the PATH train in a PAPD operation, reported the Gothamist. The operation involved six plainclothes officers who observed the suspect riding back and forth between Exchange Place and the World Trade Center stations looking for targets, and just after 8:10 p.m., he allegedly grabbed a rider's iPhone before being detained at Exchange Place. The boy was implicated in two other robberies.

Tower to Stop at Seventh Floor

January 23 – Developer Larry Silverstein has threatened to cap the planned 80-story office tower known as 3 World Trade Center at seven stories if he can’t secure at least one major office tenant to commit to the building, reported New York Post. The stunted building — which would be cut by 73 stories — will instead be a retail center. Under a 2010 agreement with the agency, Silverstein agreed to presign tenants to 400,000 square feet of space in 3 World Trade Center to qualify for government debt guarantees and other assistance. With no tenant in sight, Silverstein could stop work, leaving the other 73 stories to be completed at a later date.

Occupy’s Lawyers Drop Legal Challenge

January 23 -- The occupation of Zuccotti Park is officially over, reported the New York Post.  Lawyers for the Occupy Wall Street movement have dropped their legal challenge to a court ruling barring their clients from camping out in the park. The attorneys notified the judge who'd been hearing the case that they were voluntarily withdrawing their suit this past Friday, which was the day they were due to file an amended version of their legal action against the city and the owners of the park, Brookfield Properties. The judge said protesters were free to use the park, but they had to follow its posted rules, which prohibit the use of tents, tarps or sleeping bags, and banned people from lying down on benches, the ground or walkways.

Republicans Not Ready for Pay Hike

January 24 -- Republican lawmakers yesterday threw cold water on Assembly Speaker Sheldon Silver’s push for a legislative pay raise — at least for now, reported the New York Post. The base legislative salary — $79,500 — hasn’t been raised since 1999. But legislators also receive legislative stipends that boost the average pay to between $90,000 and $100,000. Talk of hiking salaries is a risky proposition for lawmakers seeking re-election in the fall, particularly Republicans who hold a one-seat majority in the state Senate.  “It is not time for a pay raise,” said Sen. Martin Golden (R-Brooklyn).

Federal Reserve to Buy Downtown Tower

January 26 –  The Commercial Observer reports, the Federal Reserve of New York has stepped in to buy 33 Maiden Lane, a 570,000-square-foot downtown skyscraper that the Fed uses for a portion of its Manhattan offices.  The building, which is being sold by the real estate investment company Invesco, serves as a large ancillary office for the New York Fed, which bases its operations in the neighboring building 33 Liberty Street.

The real estate investment trust Vornado had been in contract to purchase the building, which was placed on the market by last year. According to sources however, in a surprise move, the New York Fed exercised rights that are sewn into its leasing agreement at the property allowing it the option to match Vornado’s offer for the building. Market sources familiar with 33 Maiden Lane estimate that the building will trade for around $300 per square foot, a price that would place the total sale at about $170 million.

Seaport Museum Re-Opens To Public

January 26 – NY1 reports, the South Street Seaport Museum celebrated its grand re-opening Thursday. The Museum of the City of New York took over the space under a one-year agreement after the old museum was forced to shut its doors back in March because of financial troubles. The reconfigured space was made possible with the help of a $2 million grant from the Lower Manhattan Development Corporation. Items on display range from a collection of tools used on the ships that once docked at South Street to a photo exhibit on Occupy Wall Street.

One World Trade Center Observation Deck RFQ Deadline Extended

January 27 -- World Architecture News reports, One World Trade Center is extending the due date for submission of statements of qualifications from entities interested in developing, operating, and managing the Observation Deck at One World Trade Center. RFQ responses are due no later than February 10, 2012 at 5pm. The Request for Proposals will be issued shortly.

Law Firm to Return to Lower Manhattan

January 26 --  The New York Times reports, Chadbourne & Parke, a 110-year-old law firm, is close to a deal to move to the 1 World Trade Center from its headquarters at Rockefeller Center.  If the deal is completed, it would represent a return to Chadbourne’s roots in Lower Manhattan after a 40-year sojourn in Midtown.  Chadbourne would be the second blue-chip tenant in the past year to take space in the tower. Two-thirds of its three million square feet of office space will now be accounted for before the building reaches its full height sometime this summer.