December 6th - December 10th, 2010

Bond Broker Doubles FiDi Space

December 6 – Chapdelaine & Co. has leased an additional 35,000 square foot floor at 199 Water St., doubling its corporate headquarters to 70,000 square feet. The company renewed its existing lease for another 15 years, along with its current space. The story appeared on GlobeSt.com.

LMDC Emil is Leaving

December 6 - The New York Post reports Emil, 60, who earns $185,000 a year is taking an early-retirement deal that lets him boost his pension. Emil said he plans to help out in an unpaid, unofficial capacity until the demolition of 130 Liberty St. is completed, likely to be in February. He said his post would not be filled immediately.

St. Nicholas Greek Church sues Port Authority

December 6 -   Several media outlets are reporting the Greek Orthodox Church went to court Monday, accusing the PA of “arrogance, bad faith, fraudulent conduct and shabby and unlawful treatment.” DNAINFO.com reports church leaders want a deal for another site or reparations. The Port Authority told The New York Observer, the agency recently sent a letter to the church, apparently to restart negotiations, but the church says it has not received it.

Former WTC Tribute Center Cashier Heads to Jail

December 7 –  The Manhattan DA says 25 year old Emmanuel Reyes, who swiped $12,700 from the Center, was sent off on a six-month jail sentence yesterday. Reyes, according to The Battery Park City Broadsheet, took the money by phonying-up receipts. The cash donations and gift shop proceeds he pocketed had been slated to fund student education, volunteer programs and maintenance of the center itself. Manhattan DA Cyrus Vance said, "Reyes had claimed to cops he took the money to protect his family from loan sharks dunning him for a $16,000 debt -- a loan he said went to pay for his mother's funeral. “I never made any money off this,” he said in his confession after getting busted last winter.

Condo prices Fall in Lower Manhattan

December 7 – Sales of condominiums across Manhattan declined more than 23% in September, but FiDi’s condos suffered an 8% drop in prices, the worst showing of all the real estate districts on the island. The Real Deal reports the average selling price is $1,042 per square foot; in Lower Manhattan, it’s $812. The story says prices may fall further next month as weakness is still evident in the market. Condo prices in Soho/Tribeca were up about 34.6%.

Italian-American Museum Proposed for Pier A

December 8 – Joseph J. Grano Jr. a third-generation Italian-American, has a $25 million idea: a museum devoted to Italian heritage that would be the main attraction on the 124-year-old Victorian pier under renovation in Lower Manhattan. The New York Times reports, he envisions exhibits showcasing artists like da Vinci and Michelangelo as well as the Italian immigrant experience at Ellis Island.

Italian-American Museum Proposed for Pier A

December 8 – The latest Jones Lang LaSalle report shows Lower Manhattan’s Class A vacancy rate was basically unchanged and average asking rents fell. The vacancy rate at Class A buildings finished November at 10.8%, down from 11% in October. Class A asking rents fell to $40.94 per sq ft from $41.41 in October. That contrasts with Midtown where high-end midtown buildings took advantage of a rebound in activity from financial services firms. The vacancy rate in midtown's Class A buildings fell to 12.6% in November from 12.8% the previous month. The decrease was fueled by deals from Societe Generale, which leased 442,000 square feet at 245 Park Ave. and Meredith, which took 212,600 square feet at 805 Third Ave.

Brooklyn Battery Tunnel to be Renamed

December 8 - The NY Legislature voted to rename the tunnel after Hugh L. Carey, the former governor from Brooklyn and the 60 year old tunnel originates in Brooklyn.. Carey will turn 92 in April. The City says it will raise private money to pay for the updated road signs.