November 1st - November 5th, 2010

A whistleblower at the former Deutsche Bank building wins his case

November 1 – The US Department of Labor ordered the John Galt Corporation to compensate the worker $55,000 in back wages for firing him after he went public with asbestos issues. Bloomberg News reported the worker had requested respirator cartridges for himself and other workers performing asbestos removal at the building. The company is also required to expunge all references from his personnel file

More than 200 companies relocated to Lower Manhattan since 2005

November 1 – A report from The Downtown Alliance shows 250 businesses have chosen to set up shop in Lower Manhattan in the past 5 years. Alliance President Liz Berger said Lower Manhattan is attractive to the business community because of its diversification – a mix of financial, professional and creative services as well as non profits.

Apartments in two downtown neighborhoods top the list

November 1 – Average rents in FiDi rose 2.8% this month, while rents in Battery Park City were up 2.5%. Those increases, reported by Crain’s New York Business, are the largest in the city’s 15 neighborhoods. Also, the vacancy rate Downtown was .8%, compared with a Manhattan-wide vacancy rate of 1%.

A Downtown park is renamed for a community leader

November 1 – CaVaLa Park is now called Albert Capsuoto Park, honoring the man who moved to Lower Manhattan 30 years ago and worked tirelessly for the community. Several local politicians including Assembly Speaker Silver, Councilwoman Margaret Chin and Senator Dan Squadron, attended the ceremony, which attracted more than 100 people.

Contractors go to court over the recent Project Labor Agreement (PLA) with the City

November 2 - The Building Industry Electrical Contractors Association and the United Electrical Contractors Association filed a lawsuit, claiming that the work-rule changes won’t save money and may violate the State’s competitive bidding laws. Crain’s New York Business quotes a union attorney as saying, “The PLA’s will reduce competition and increase the costs for construction.”

A major ad firm moves within Lower Manhattan

November 2 – TMP Worldwide Advertising and Communication is relocating, according to GlobeSt.com. It’s moving from its current location at Hudson Square to 125 Broad Street. TMP signed a 10 year lease for 37,400 square feet; the office will be the company’s world headquarters.

The City’s newest pier opens

November 2 – A $70 million dollar makeover for Pier 25 in Tribeca and now, NYers can enjoy an 18-hole minigolf course, a new skate park and a kidney-sahped water play area for kids. The Pier, near North Moore Street, also has volleyball courts with a view of the Statue of Liberty. Next up is work on Pier 26, where the Hudson River Park Trust plans to build a boathouse and restaurant.

A major architectural firm is born

November 2 – Perkins Eastman and Ehrenkrantz Ecksut & Kuhn announced their merger this week, creating one of the largest architectural firms in NYC, according to Crain’s. The new firm will have 600 employees globally and will surpass Kohn Pederson Fox Associates in size.