FE BRUARY 2013
SOUTH FLORIDA RESIDENTIAL A Publication of Sokol Media Inc.
BG Studio International From Sea to Land
Also Inside Greening New York
Cervera Real Estate Leading Miami Real Estate for over 40 Years from Miami to Palm Beach
BrickellHouse There is an energy that thrives in the downtown environment of BrickellHouse. It is electric and sleek like the glow of lights and the texture of steel and glass. Life in Miami’s Brickell area moves at the speed of technology. International business, government, education, world travel, entertainment, arts and culture all thrive here. City sidewalks bustle with a mix of work and play, power and pleasure. And in the center of it all—BrickellHouse, a home where the future is now. Brickellhouse, a 46-story ultra-modern luxury residential tower of light-swept rooms, spacious layouts, and cinematic views, boldly rises in the heard of this sleek, sophisticated enclave. Together with award-winning interior design firm, Yabu Pushelberg, Brickellhouse is the perfect fusion of aesthetics and technology.
Marquis Residences Rising over Biscayne Bay and Downtown Miami at the threshold of Miami Beach, Marquis Residences offers and ideal address and exclusive lifestyle for the most discerning art lovers, epicureans and social urbanites of South Florida. At 67 stories, Marquis is Biscayne Boulevard’s tallest residential tower. Envisioned as a magnificent glass sculpture by internationally renowned architecture firm Arquitectonica, the tower itself becomes a showcase for innovation with the installation of two original works of art: Arquitectonica’s own “Biscayne Beacon,” glowing brightly each night at the top of the spire, and “Miami Rain,” by Tom Patti, embellishing the North and West facades.
Epic Residence Architect, Luis Revuelta’s inspiration for Epic’s 54-story design came from its distinct waterfront location, along the banks of the Miami River where it joins Biscayne Bay. The area formerly inhabited by the Tequesta Native American tribe has greatly influenced the architecture and design of the property. Epic is destined to become of the Magic City’s most recognized waterfront landmarks since it is at the epicenter of a vibrant cultural mecca, Epic’s graceful simplicity and understated elegance is the perfect retreat for the seasoned resident and traveler. Revuelta’s artistic mastery allows inspiring cityscpaes and glimmering views of the bay from every vantage point due to the unique positioning of the tower. As an Epic resident, one can be assured of having the very finest and most luxurious finishes and amenities.
Grove at Grand Bay Inspired by the natural beauty of Coconut Grove, Bjarke Ingels, of BIG Architects, has reimagined the high-rise condominium with the boldness and ingenuity that have made him the most talked about architect of his generation. The prestigious South Bayshore Drive location of Grove at Grand Bay is among Miami’s most distinctive residential settings, with an ambience and sensibility reminiscent of Europe’s most alluring Riviera resort towns. From any distance and every angle, Grove at Grand Bay is destined to capture every eye and imagination. Those fortunate enough to reside within will find their lives enriched by profoundly innovative design that marks these 96 exceptional residences as the world’s most highly evolved condominiums.
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Ocean House Ocean House is the newest oceanfront residence in South of Fifth, boasting sweeping residences, breathtaking views and uncompromising attention to detail in furnishings and amenities. A mere 18 Grand Residences guarantee that only a select few will ever call Ocean House home. The residences are located in a tranquil, intimate setting. Ocean House’s private residences combine the most extraordinary interior spaces and finishes with recreational features and amenities to rival the world’s finest homes.
St. Regis More than a century ago, John Jacob Astor IV opened the gilded doors to The St. Regis® New York, an exquisite Beaux Arts masterpiece that provided meaningful innovation to the experience of luxury and ushered in a new era of lavish entertainment and social gatherings. Today, the tradition that began on Fifth Avenue not only continues, but inspires the next chapter of the enduring St. Regis legacy. Poised to be the premier address for connoisseurs of couture living, The St. Regis Bal Harbour Resort will carry forth the time-honored traditions of St. Regis by offering sumptuous surroundings, incomparable services and an exquisite array of amenities to compliment your glamorous South Florida lifestyle. As a Resident of this legendary address, revel in the incomparable touches, discreet St. Regis Butler Service, a Remède Spa, world-class gourmet dining, thoughtful gestures and a host of other inviting amenities.
Platinum Platinum brings the opportunity to experience sophisticated and urban living in the heart of Miami at an affordable price. Platinum, the 22-story luxurious condominium, is located between Biscayne Bay, Biscayne boulevard and NE 30th Street. The Platinum was designed by internationally recognized architectural firm Fullerton Diaz Architects and was conceived to capture the luxury of Brickell Avenue living at a still affordable price and bring it to the-up-andcoming Omni/Edgewater corridor. Each unit in Platinum features breathtaking views of Biscayne Bay and Downtown Miami. The Platinum was built to become the Jewel of the Omni/Biscayne Boulevard Corridor.
Cervera Real Estate www.cervera.com email: email@example.com phone: (305) 374-3434
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INDUSTRY NEWS From Miami to Manhattan, these properties are heating up.
LETTIRE CONSTRUCTION COMPANY
Come see what makes this company’s projects ‘Affordably Green’
BG STUDIO INTERNATIONAL From ‘Sea to Land,’ the architectural interiors this firm creates are unlike any other.
DISTRICT FOR DESIGNERS Caliente Miami Miami is one of the hot new retail destinations in the world, according to Faith Hope Consolo of Prudential Douglas Elliman.
Real Estate Board of New York REBNY hits a membership milestone.
CALENDAR Upcoming industry events in February and March.
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Publisher’s Page Winning Properties - From Luxury to Affordability One would normally view the building and design of luxury versus affordable properties as two very different endeavors. In this issue, however, we find that they are actually both quite similar, and have the Awards to prove it. As our special feature on Lettire Construction reveals, one of their projects, Dumont Green, was awarded the National Grid Award for Energy Efficiency at the 2012 Building Brooklyn Awards due to its creativity in transforming a 24 year-old lot into what has become the first affordable apartment project. Illustrating the finest in luxury, BG Studio International can lay claim to its award-winning 1636-square-foot Reflection Suite, created for Celebrity Cruise Lines, which is the first to be complete with a distinctive seaview bathroom and soothing rain shower, as its feature story reveals. Both properties were built and designed upon a vision to create a space unlike ever before…expanding the idea of what is possible in living environments. Clearly, it is by pushing the ‘envelope’ that our industry can embark on new and exciting designs that further the scope of what is possible in real estate...and we are pleased to present both examples within the pages of this issue. I hope you enjoy the issue! Lori Sokol, Ph.D. Founder & Publisher Please address all comments and questions to firstname.lastname@example.org
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Sokol Media, Inc. FOUNDER & PUBLISHER Lori M. Sokol ART DIRECTOR Kerstin Vogdes Diehn PUBLISHING CONSULTANT James Janson CONTRIBUTING WRITER Faith Hope Consolo WEB DESIGN Design Disegno ACCOUNTING Daniel Paisner, CPA PRINTING AmericasPrinter Sokol Media, Inc. 123 Town Square Place, #427 Jersey City, NJ 07310 Ph: 201-238-2435 Fx: 201-238-2857 www.sokolmediaonline.com Copyright by Sokol Media, Inc. No part of the publication may be reproduced or transmitted in any form or by any means without prior written consent from the publisher. The publisher reserves the right to accept or reject any advertising or editorial materials. Advertisers and/or their agents assume the responsibility for all content of published advertisements and assume responsibility for any claims against the published based upon the advertisement. Editorial contributors assume any claims against the publisher based on the published work. No part of this publication may be reproduced in any form or by any electronic ormechanical means, including information storage and retrieval systems without permission in writing from the publisher. All items submitted to Sokol Media, Inc. become the sole property of Sokol Media, Inc. Editorial content may not necessarily reflect the views of the publisher. All correspondence and inquiries should be addressed to: Sokol Media, Inc., 123 Town Square Place, #427, Jersey City, NJ 07310.
RNC Industries, LLC 720 Blue Point Road Holtsville, NY 11742 Ph: 631-289-1734 Fx: 631-289-1711
REINFORCED CONCRETE CONSTRUCTION FOUNDATION, EXCAVATION & SUPERSTRUCTURE
INDUSTRY NEWS: New York to Miami
REPORT: NEW YORK CITY RESIDENTIAL MARKET IN 2012 PULLS THE HIGHEST TOTAL DOLLAR SALES SINCE 2008 4Q Sales Finish Off the Year on a Strong Note Hinting that Market Recovery Continues Despite Slow Progress for Other Economic Sectors The New York City residential sales market had its strongest year overall in 2012 since the financial crisis of 2008 in terms of total consideration, according to The Real Estate Board of New York (REBNY)’s Fourth Quarter New York City Residential Sales Report. Total consideration for the entire year was $30.3 billion and is the sum dollar value of all home sales in the five boroughs. The increase over last year is attributed to increasing confidence in the real estate market and improving economic conditions citywide. Also, 2012 had the second highest total number of sales since 2008 at 39,381 homes. In 2010, there were 41,039 sales, but that figure was boosted by the home-buyer tax credit program. Manhattan’s total consideration in
the fourth quarter of 2012 was $4.4 billion, 49 percent greater than the fourth quarter of last year. Brooklyn’s consideration was $1.4 billion, 25 percent greater than the fourth quarter of last year. Total consideration in Queens was $1.2 billion, 18 percent greater than a year ago. The average sales price of a home in New York City during the fourth quarter of 2012 was $775,000, a 12 percent increase from the fourth quarter 2011 average. Compared to the fourth quarter 2011, the average price of a home in Manhattan increased eight percent to $1,383,000; Brooklyn prices increased nine percent to $589,000; and Queens saw a six percent average price increase to $419,000. The Bronx average sales price decreased one percent to $347,000 indicating that its recovery is the weakest of the five
boroughs. “Based on the annual growth in total consideration and total sales since 2008, the New York City market continues to show clear signs of a recovery from the financial crisis,” said Steven Spinola, REBNY president. “The fourth quarter of 2012 performed better than the same time a year ago, and we’re seeing continued improvement. The anxiety about the fiscal cliff crisis at the end of the year and impending changes in tax law that would have impacted sales appears to have a stimulating effect on sales activity in Manhattan, where prices and sellers are more likely to be affected by these changes. In the other boroughs where the average home sales price is significantly lower than Manhattan, these issues appear to have had less of an impact.”
REBNY’s Fourth Quarter 2012 Residential Sales by Neighborhood: Manhattan neighborhoods with the most home sales
Queens neighborhoods with the most home sales:
this quarter were:
• Flushing (333 sales),
• the Upper East Side (751 sales),
• Rego Park/Forest Hills/Kew Gardens (325),
• the Upper West Side (574),
• Jackson Heights/Elmhurst (233), and
• Midtown West (240),
• Richmond Hill/South Ozone Park/Woodhaven
• Midtown East (229),
• Gramercy/Kips Bay (198), and • Chelsea/Flatiron (177).
Bronx neighborhoods with most residential home
sales this quarter were:
Brooklyn residential home sales activity was
• Riverdale/Fieldston (85),
• City Island/Pelham Bay/Pelham Strip/Country
• Bedford Stuyvesant (156), • Park Slope (135 sales), • Williamsburg (123), and • Brooklyn Heights (106).
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Club/Throgs Neck/Schuylerville (80), • Parkchester/Westchester Square/Castle Hill/ Soundview (70 sales), and • Woodlawn/Williamsbridge (67).
INDUSTRY NEWS: New York to Miami
Miami Home Sales Surge, Prices Rise 12 Consecutive Months, Miami Headed for another Record Sales Year market’s robust performance offers opportunities for both buyers and sellers,” said 2012 MIAMI Association of REALTORS Residential President Patricia Delinois. “While prices are rising, Miami remains more affordable than most U.S. markets and other world-class, global cities. Sellers are recovering significant equity lost during the downturn, resulting in greater profits.” Inventory Shortage Persists Over the last year, the inventory of residential listings in Miami-Dade County has dropped 19 percent, from 14,641 to 11,862. Nationally, the median time on the market was 70 days. Distressed Sales Decrease Strong demand for bank-owned (REO) properties and improved processing of short sales continues to yield absorption of distressed listings and to contribute to price appreciation. In November, 43.4 percent of all closed residential sales in Miami-Dade County were distressed, including REOs (bank-owned properties) and short sales, compared to 56 percent in November 2011 and 47.4 percent the previous month. Nationally, distressed homes accounted for 22 percent of November sales, down from 24 percent in October. Cash Sales Reflect Strong International Presence In MiamiDade County, 63 percent of total closed sales in November were all-cash sales, compared to 64 percent in November 2011 and 63.7 percent the previous month. Cash sales accounted for 45 percent of single-family and 75.3 percent of condominium closings. Nearly 90 percent of foreign buyers in Florida purchase properties all cash. This reflects the much stronger presence of international buyers in the Miami real estate market – by comparison all-cash sales nationally accounted for 30 percent of transactions in November, up from 29 percent the previous month; they were 28 percent in November 2011. Submitted by Deborah Boza-Va, Miami International Council
istockphoto @ Chi Ian Chao
Miami home prices have increased each of the last 12 months as a result of strong demand and very tight supply, according to the 25,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system. Despite very limited inventory, Miami-Dade County residential sales surged 23 percent in November compared to a year earlier. The sales of existing condominiums in Miami-Dade increased 19.8 percent, from 1,139 to 1,365. Sales of single-family homes increased 26.2 percent, from 802 to 1,012, yearover-year. “It appears the Miami real estate market will set another record in 2012, exceeding sales levels at the height of the boom in 2005 and during the all-time record in 2011,” said 2012 Chairman of the Board of the MIAMI Association of REALTORS Martha Pomares. “Considering the shortage of housing inventory available, it is remarkable that sales remain this strong. This record demand coupled with extremely limited supply is driving strong and consistent price appreciation.” Statewide sales of existing single-family homes totaled 17,072 in November, up 24.4 percent compared to a year ago. Statewide condominium sales totaled 8,079, up 18.3 percent from November 2011. Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops rose 5.9 percent from November and were 14.5 percent higher than they were in November 2011, according NAR. Evident Demand Continues to Fuel Strong Appreciation Miami home prices rose again in November, marking 12 consecutive months of appreciation for both single-family homes and condominiums. The median sales price of Miami-Dade condominiums, which has increased each of the last 17 months, rose 31.7 percent to $158,000 compared to a year earlier. The median sales price of single-family homes rose 15.9 percent to $195,000. In November the average sales price for condominiums in Miami-Dade County increased 22.9 percent to $285,512. The average sales price for singlefamily homes increased 17.4 percent to $377,918. Florida and U.S. Home Prices Statewide median sales prices in November increased 11.2 percent to $150,00 for single-family homes and 23.2 percent to $112,000 for condominiums, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. The national median existing-home price for all housing types was $180,600 in November, a 10.1 percent increase from November 2011, according to the National Association of Realtors (NAR). “The Miami
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INDUSTRY NEWS: New York to Miami
U.S. Home Sales Dip in December, Yet Prices Continue to Rise From Lack of Inventory According to the National Association of Realtors (NAR), existing-home sales eased in December but are well above a year ago, while limited inventory maintained the upward momentum in home prices. Total sales in 2012 were the highest in five years, while the annual price rose the most since 2005. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, declined 1.0 percent to a seasonally adjusted annual rate of 4.94 million in December from a downwardly revised 4.99 million in November, but are 12.8 percent above the 4.38 million-unit level in December 2011. The preliminary annual total for existing-home sales in 2012 was 4.65 million, up 9.2 percent from 4.26 million in 2011. It was the highest volume since 2007 when it reached 5.03 million and the strongest increase since 2004. Lawrence Yun, NAR chief economist, said pent-up demand is sustaining the market. “Record low mortgage interest rates clearly are helping many home buyers, but tight inventory and restrictive mortgage underwriting standards are limiting sales,” he said. “The number of potential buyers who stayed on the sidelines accumulated during the recession, but they started entering the market early last year as their financial ability and confidence steadily grew, along with home prices. Likely job creation and household formation will continue to fuel that growth. Both sales and prices will again be higher in 2013.” According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was a record low 3.35 percent in December, the same in November; it was 3.96 percent in December 2011. Total housing inventory at the end of December fell 8.5 percent to 1.82 million existing homes available for sale, which represents a 4.4-month supply at the current sales pace, down
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from 4.8 months in November, and is the lowest housing supply since May of 2005 when it was 4.3 months, which was near the peak of the housing boom. Listed inventory is 21.6 percent below a year ago when there was a 6.4-month supply. Raw unsold inventory is at the lowest level since January 2001 when there were 1.78 million homes on the market. The national median existing-home price for all housing types was $180,800 in December, which is 11.5 percent above December 2011. This is the 10th consecutive month of year-over-year price gains, which last occurred from August 2005 to May 2006, and is the strongest increase since November 2005 when it jumped 12.9 percent. For all of 2012, the preliminary median existing-home price was $176,600, up 6.3 percent from $166,100 in 2011, and was the strongest annual price gain since 2005 when the median price rose 12.4 percent. Distressed homes - foreclosures and short sales - accounted for 24 percent of December sales (12 percent were foreclosures and 12 percent were short sales), up from 22 percent in November but below the 32 percent share in December 2011. Foreclosures sold for an average discount of 17 percent below market value in December, while short sales were discounted 16 percent. NAR President Gary Thomas, broker-owner of Evergreen Realty in Villa Park, Calif., said affordability conditions will be fairly stable in the near term. “Although mortgage interest rates should gradually rise as the year progresses, they're expected to stay below 4 percent during the first half of the year, meaning qualified buyers generally can stay well within their means,” he said. “Although tight inventory is limiting home sales in many areas, overall sales are expected to stay on an upward trend. The biggest impact of tight inventory is upward pressure on home prices, but
after values fell below replacement construction costs, prices are still affordable in most of the country.” The median time on market for all homes was 73 days in December, up from 70 days in November, but is 26.3 percent below 99 days in December 2011. Short sales were on the market for a median of 117 days, while foreclosures typically sold in 45 days; non-distressed homes took 74 days. Thirty-one percent of all homes sold in December were on the market for less than a month. First-time buyers accounted for 30 percent of purchases in December, unchanged from November; they were 31 percent in December 2011. All-cash sales were at 29 percent of transactions in December, compared with 30 percent in November and 31 percent in December 2011. Investors, who account for most cash sales, purchased 21 percent of homes in December, up from 19 percent in November; they were 21 percent in December 2011. Single-family home sales slipped 1.4 percent to a seasonally adjusted annual rate of 4.35 million in December from 4.41 million in November, but are 11.5 percent above the 3.90 million-unit pace in December 2011. The median existing single-family home price was $180,300 in December, up 10.9 percent from a year ago. Existing condominium and co-op sales rose 1.7 percent to an annualized level of 590,000 in December from 580,000 in November, and are 22.9 percent higher than the 480,000-unit level a year ago. The median existing condo price was $184,100 in December, up 16.0 percent from December 2011. Regionally, existing-home sales in the Northeast rose 3.2 percent to an annual rate of 640,000 in December and are 10.3 percent above December 2011. The median price in the Northeast was $231,600, up 5.3 percent from a year ago. By Michael Gerrity, World Property Channel
The National Association of Home Builders (NAHB) is reporting that their latest Remodeling Market Index (RMI) has reached 55 in the fourth quarter of 2012, increasing five points from the previous quarter. This is the highest reading since the first quarter 2004. An RMI above 50 indicates that more remodelers report market activity is higher (compared to the prior quarter) than report it is lower. The overall RMI averages ratings of current remodeling activity with indicators of future remodeling activity. “Remodelers are optimistic about
the outlook for slow and steady market growth in the new year,” said 2013 NAHB Remodelers Chairman Bill Shaw, GMR, GMB, CGP, a remodeler from Houston. “Professional remodelers reported more work from large and small projects as well as overall home repair.” Future market indicators increased from 49 in the previous quarter to 56. Current market conditions also showed improvement, rising from 52 in the previous quarter to 54. Remodelers indicated that activity was particularly strong in owner-occupied properties, rating all categories of remodeling in owner-occupied homes 56 or better.
“With existing home sales up, the increase in the RMI partially reflects the remodeling work new home owners undertake when they move in,” said NAHB Chief Economist David Crowe. “Consumers are gaining confidence in the economy and feeling more comfortable pulling the trigger on large and small renovations.” The RMI was above 50 in all four regions of the country. The RMI in the Northeast surged 24 points, primarily due to the start of remodeling work related to Superstorm Sandy damage. By David Barley, World Property Channel
Miami Pending Sales Rise 52 Percent in November The total number of listings, including single-family homes and condominiums, that pended* in Miami-Dade County during the month of November increased 52 percent, from 2,226 to 3,374, year-over-year even though it was 19.1 percent less than the previous month, according to the 25,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems. The number of single-family and condominium listings that pended in November increased 73.8 percent and 37.4 percent respectively compared to November 2011. “The Miami real estate market continues to perform robustly as it approaches a new sales record and exceeds one full year of significant price appreciation,” said Martha Pomares, 2012 chairman of the board of the MIAMI Association of REALTORS. “Strong market fundamentals in Miami offer sound and profitable investment opportunities. Population drives real estate, and Miami continues to grow as a result of net U.S. migration, trade, business enterprises, tourism and second and vacation homebuying activity.” Inventory shortage remains a problem for the Miami market, as the number of active listings drops year-overyear below what is considered a balanced market. While new listings are coming on the market, more inventory is needed to satisfy demand. In November, 1,581 single-family homes and 2,382 condominiums were listed, reflecting a 3.1 percent decrease and 1.3 percent increase respectively when compared to November 2011. “Homeowners who have been waiting to sell should
sell now,” said 2012 MIAMI Association of REALTORS Residential President Patricia Delinois. “Record demand is evident for Miami properties, creating an advantage for sellers. Therefore, when a home is priced right, it sells fast.”
Sellers Offering Few Discounts Limited supply coupled with rising demand is yielding offers that are increasingly closer to asking price, as sellers offer fewer discounts. In November, single-family home and condominium sales received 93.7 percent and 96.2 percent respectively of the original list price, compared to 91.9 percent and 93.3 percent in November 2011. The increase in percent of original list price received is an indication that rising demand is absorbing inventory more rapidly. Nationally, the Pending Home Sales Index, a forwardlooking indicator based on contract signings, rose 1.7 percent to 106.4 in November from 104.6 in October, according to the National Association of Realtors. The index is 9.8 percent higher than the 96.9 index reported in November 2011. Increased pending sales are an indication of increased future sales. A sale is listed as pending when a contract is signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
INDUSTRY NEWS: New York to Miami
U.S. Remodeling Index Upticks Again in Late 2012, Highest Levels Since 2004
*”Pended sales” are defined as only the sales that pended during a particular month. Submitted by Lynda Fernandez www.sokolmediaonline.com • 9
istockphoto @ -HeleN-
INDUSTRY NEWS: New York to Miami
NYC REAL ESTATE BROKER CONFIDENCE ON UPSWING ACCORDING TO INAUGURAL REBNY BROKER CONFIDENCE INDEX
New York City residential and commercial real estate brokers’ confidence levels hit their second highest ratings in December 2012 of the last sevenmonths, according to the inaugural release of the Real Estate Board of New York’s (REBNY’s)Broker Confidence Index. The Broker Confidence Index – tabulated on a scale of zero to ten, with five being neutral – was 8.12 in December 2012, second only to September 2012 when the confidence index reached 8.55. Brokers were more confident in the market in December compared to November 2012, when in the aftermath of hurricane Sandy, broker confidence dipped to 7.55. REBNY’s Broker Confidence Index is the result of survey data from REBNY’s residential and commercial brokerage division members. The survey has been conducted monthly since June 2012. The overall Broker Confidence Index gauges broker perceptions of the current market as well as the market six months from now. In addition to the overall index, REBNY also surveys confidence in the residential and commercial markets individually. “Since we began conducting the survey seven months ago, we have found that our Brokerage Division Members, both residential and commercial, have been increasingly confident in the market overall,” said Steven Spinola, REBNY President. “In this our first public distribution of the index, the
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survey results show that while Hurricane Sandy caused a dip in confidence in November 2012, broker confidence is again on the upswing and we anticipate that confidence levels will continue to increase as the economy improves overall and the city continues to recover from the impacts of the storm.” Overall broker confidence increased more than half a percent point from November 2012 to December 2012. When brokers were asked about their expectations of the market six months from now, even more significant increases were seen in the commercial market. The Residential Real Estate Market Overall Confidence Index was 8.57 for December 2012, rising from the 8.33 confidence index shown in November 2012. This increase in the Residential Overall Confidence Index can be attributed to the resilient and steady sales market as a whole despite fluctuating market conditions in certain areas, particularly those impacted by the storm. The Commercial Real Estate Market Overall Confidence Index for December 2012 saw an even greater month to month increase than the Residential Real Estate Market Overall Confidence Index. The index was 7.67 in December 2012 as compared to 6.77 in November 2012. Respondents’ confidence about the future was even better, registering over a one-point increase in December 2012 compared to November 2012 with indexes of 7.85 and 6.74 respectively. “Our broker confidence index offers a perspective on the market that is not currently available,” added Michael Slattery, REBNY’s senior vice president for research. “Our membership represents a broad cross section of the residential and commercial brokerage industry. The survey respondents are the professionals who are on the ground and know the market best. It is their perceptions of the market that can give us the first glimpse of positive and negative changes coming our way. The broker confidence index aims to capture that perspective as a way to benefit those working in the industry.” Survey data has been collected monthly from residential and commercial brokerage division members via anonymous online surveys administered by REBNY. In order to ensure consistent data patterns, REBNY began collecting monthly data in June 2012, without making survey results public until this month. The REBNY Broker Confidence Index will be distributed monthly. The next release is scheduled for early February 2013. A full copy of the REBNY Broker Confidence Index can be found at www.REBNY.com.
Today, in homes, schools, stores, offices and places of worship, people are enjoying the social and economic benefits that come with buildings that are good for the environment and the individuals that use them. And as green building takes root in more neighborhoods, the police and firefighters who protect community members are among those that are increasingly benefiting from living and working in LEED certified buildings. Among the places that made our annual list of the top 10 states for LEED (measured by square footage of LEED space certified in 2012 per state resident), many had public safety-related projects certify last year. Notable public-safety projects that certified in 2012 in the states that made the list include: •
• • •
Twin Cities Police Headquarters in Larkspur, Calif., LEED Platinum Vail Fire Station 3 in Vail, Colo., LEED Gold UMass Amherst Campus Police Station, LEED Gold Lake Mead National Recreation Area Interagency Communication Center, Boulder City, Nev., LEED Gold Greenwood Fire Station 21, Seattle, LEED Gold Mountain View Fire Station 5, Mountain View, Calif., LEED Gold Alexandria Police Headquarters, Alexandria, Va., LEED Gold Denver Police Crime Lab, LEED Gold
When designing a LEED building for use by public safety officers, there are a number of important considerations specific to the space.
David Ross of Bull Stockwell Allen, who served as the LEED AP on the Mountain View Fire Station 5, noted that a fire station must serve various functions: providing space for vehicle storage and maintenance, hazardous material decontamination, medical treatment, emergency response, meetings, training, physical fitness and housing — all under one roof. “Using controls such as daylight and occupancy sensors to reduce lighting and apparatus bay door interlocks to automatically shut off the heating and engage vehicle exhaust systems are helpful in meeting LEED credits and reducing energy use,” he said. However, these features must be carefully integrated with overrides and emergency response systems. Another important consideration in designing a police or fire station is that it must be operational at all times. For the Mountain View Fire Station, an inexpensive solar water heating system and credits for on-site energy production were a great fit for the intense operational, maintenance and domestic-water-use requirements of a 24/7 home and workplace, Ross said. Similarly, security and durability are two key aspects of sustainable building design for LEED police stations, according to Doug Joder of GLASS Architects, which designed the Twin Cities Police Headquarters in Larkspur and has worked on several other public-safety-related LEED projects in California. Joder particularly noted the importance of durable materials in detention areas in the Twin Cities station, where his firm incorporated materials that not only met durability criteria, but were also composed of recycled and locally harvested and manufactured content. “Air quality throughout the building was a consideration, but particularly
in areas such as gun cleaning rooms, armory, locker rooms and laboratory rooms,” he said. “The building systems were designed to ensure good indoor air quality in these areas.” The police station was also specially designed to accommodate multiple shifts of occupants. It features individual lighting and thermal controls in the various workstations throughout the building, especially in the radio communications and dispatch center, allowing each shift member to adjust the environment to his or her preferences. Of course, as a LEED building, the Twin Cities Police Headquarters was designed for maximum energy efficiency. To mitigate energy use, the building features on-site power generation through photovoltaic roof panels, which produce 29 percent of its total annual energy usage and help the building exceed the energy efficiency of a typical similar building by 47 percent. Meanwhile, the design reduces water usage by 38 percent, Joder said, and the irrigation system uses 72 percent less water than a typical system. Joder and Ross both believe that as more public entities come to recognize the benefits of green building, the increasing adoption of LEED in the public safety space will continue. “We attribute the increase [in public-safety green building] to several factors, including cities and special districts taking a leadership role in sustainability and carbon footprint reduction within the community,” Joder said. “Commissioning and measurement and verification measures that help the project owners verify that the building systems are functioning as designed … are also gaining understanding and support.”
INDUSTRY NEWS: New York to Miami
Protecting Communities, Sustainably: LEED Taking Hold in Public Safety Space
Reference: U.S. Green Building Council
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istockphoto @ Denis Jr. Tangney
INDUSTRY NEWS: New York to Miami
Across Nation, Green Buildings at Forefront of Government Environmental Agendas
The New York State Capitol in Albany Government leadership is the catalyst for creating a better built environment. By embracing LEEDbased policies, or establishing energy efficiency goals for public buildings, governments provide pathways for the private sector to follow. 2012 saw a number of public green building laws enacted across America. A few examples include ordinances passed in places ranging from San Louis Obispo County, Calif., to Arvada, Colo., and all the way to Chatham County, Ga. Currently, government leadership has produced green building legislation in 442 localities, including 384 cities, 58 counties and across 45 states. As the calendar turns to 2013, states are already taking the lead. New York Gov. Andrew Cuomo recently issued an executive order requiring that all state buildings increase energy efficiency by 20 percent by 2020. To help make this a reality, the order also launched the Build Smart NY initiative, which creates a framework to use available building data to prioritize projects, improve the most inefficient buildings first, and pursue operating and maintenance programs to meet energy usage goals. This effort sets a clear
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leadership standard by New York’s policymakers to make the needed investments to protect futu re taxpayer money, create jobs and conserve natural resources. While executives and policymakers in many cities and states are demonstrating the courage to lead on this issue, USGBC and its network of chapters are continuing to work to support their efforts through USGBC’s Leadership with LEED Campaign. This campaign serves as a vehicle for dedicated and passionate USGBC volunteers to provide the resources and expertise to empower lawmakers to advance green building legislation in their cities and states. This campaign allows our volunteers to make a difference in their communities through direct engagement with elected leaders and be able to clearly articulate why governments should lead on building green. In 2013, the USGBC community looks forward to working with all leaders within local, state and federal governments as they pursue policies that demonstrate leadership by example in building green. Reference: U.S. Green Building Council
Congratulations to Lettire Construction! It’s been an honor working with a leading Construction Company.
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Fortune Society’s Castle Gardens
ettire Construction C
> 160 5th Avenue 14 â€˘ www.sokolmediaonline.com
> City Lights at Queens Landing, Long Island City
n Corporation Affordably Green
of the largest premier builders and developers of affordable and supportive housing in the New York region, Lettire Construction Corporation is also known for the economic rebuilding of the City. It therefore comes as no surprise that Lettire has also served as the recipient of a number of awards for its commitment to affordable housing, particularly when these projects are sustainably built. “There’s a tremendous need for high quality green affordable housing in New York City,” says Nicholas Lettire, President and CEO. “We are proud to be the driving force in the creation of these projects.”
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Dumont Green building in Brooklyn (left); and Castle Gardens, 114 unit supportive housing development in Harlem (right)
Dumont Green Their latest project to be recognized, Dumont Green, was awarded the National Grid Award for Energy Efficiency at the 2012 Building Brooklyn awards in July, 2012. The 176-unit affordable multi-housing development, which was completed in 2010 and was developed by The Hudson Companies, is the result of a transformed 24 year-old vacant lot into an eight-story green building in East New York. Featuring the largest solar energy system in a muiltifamily building in New York State, it is also the first in an affordable apartment project. By providing 80 percent of the project’s common area power, the building has become 26 percent more energy efficient than code compliance requires.
Via Verde But Dumont Green reflects only one of a myriad of sustainable housing projects built by Lettire, having completed nearly 1350 units of affordable, supportive and market rate green housing in
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New York in the last five years. Among them is Via Verde – “The Green Way” – a development of 222 units of for sale and rental affordable housing in the Bronx by Jonathan Rose Companies and Phipps Houses. Described by Mayor Michael Bloomberg as, “one of the most innovative, exciting, environmentally sustainable affordable housing developments in the nation – if not the world,” Via Verde features acres of gardens and was literally designed to offer a healthier green lifestyle. An award-winning 20-story, 222-unit green affordable housing development consisting of 71 cooperative homes and 151 rentals, located in the Bronx, Via Verde was built by Lettire as a state-of-theart showpiece property that will pave the way for future affordable living projects. Utilizing the best in eco-friendly building practices enabling the property to achieve LEED NC Gold Certification, it was also combined with the finishes, details and amenities usually reserved for higher-end buildings. “We were honored to be selected as the builder for this visionary
We believe the work we completed on this project sets a new standard for our industry. Via Verde exemplifies the most cutting-edge innovation in affordable multi-family housing and will serve as a model for future developments. Nicholas Lettire president and chief executive officer of Lettire Construction
project,” notes Mr. Lettire, president and chief executive officer of Lettire Construction. “We believe the work we completed on this project sets a new standard for our industry. Via Verde exemplifies the most cutting-edge innovation in affordable multi-family housing and will serve as a model for future developments.” Over 11 professionals from Lettire participated in the build, which was completed on time and within budget. Designed by Dattner Architects and Grimshaw Architects, along with Ettinger Engineering Associates, Robert Silman Associates and Lee Weintraub Landscape Architecture, and co-developed by Jonathan Rose Companies and Phipps Housing, the project was the winning response to the New Housing New York Legacy Competition sponsored by the New York Chapter of the American Institute of Architects, NYC’s Department of Housing Preservation and Development, the New York State Energy Research and Development Authority and Enterprise Foundation. Residents therefore benefit from improved indoor air quality, due to Lettire’s utilization of green cleaning materials and non-toxic, no/low VOC materials during construction. Co-ops at Via Verde also feature spacious floor plans with hardwood flooring, in-unit stacker washer/dryers, stainless steel appliances, built-in dishwashers and microwaves, luxury kitchens with bamboo cabinets, porcelain tile floors, ceramic tile backsplashes, Caesar stone countertops, Energy Star appliances, remote con-
trol ceiling fans, porcelain tile bathrooms and panoramic windows. Further, the project provides such additional sustainable amenities as a series of green roofs including a Scots Pine tree orchard on the 3rd floor roof, an edible fruit bearing apple and pear trees orchard on the 4th floor roof, resident vegetable gardening beds on the 5th floor roof, and a green roof and fitness center on the 7th floor. In addition, the building contains photovoltaic solar panels, which will provide power to the common areas.
Castle Gardens Expanding its green supportive housing niche in Harlem, Lettire also completed construction of Castle Gardens, located at 625 West 140th Street. The building, on track for LEED-NC Gold Certification, provides 114 affordable units, including 50 supportive studio apartments and 13 larger units for homeless individuals and families with incarceration histories. Serving as the general contractor on the project, which was co-developed by The Fortune Society, a nonprofit organization dedicated to strengthening the fabric of communities by promoting successful prisoner reentry, and Jonathan Rose Companies, Castle Gardens is adjacent to the five-story, notfor-profit Fortune Academy, known as “The Castle,” a nationally recognized residence which provides transitional housing for homeless individuals recently released from prison. Designed by Curtis + Ginsberg Architects,
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Tapestry, LEED Gold Certified development in East Harlem
the new 11-story building allows The Fortune Society to significantly expand its programming and housing opportunities by offering permanent housing to clients and other lowincome members of the community. The building also includes 20,000 square feet of office, meeting and supportive service space for residents and community groups. Environmentally-friendly features at Castle Gardens include an extensive green roof that utilizes a rainwater harvesting system, aluminum solar shades that are employed on the building’s south façade, and materials free of toxic ingredients which are used throughout the building. “Castle Gardens sets a new standard for green affordable and supportive housing in the region,” Mr. Lettire says.
Tapestry As the co-developer and contractor for Tapestry, a 185 unit green market-rate rental housing project in Manhattan that received the Jack Kemp Workforce Housing Models of Excellence Award from the Urban Land Institute, Tapestry is also East Harlem’s first LEED Gold Certified mixed-income, mixed-
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use project. Mr. Lettire felt particularly “proud to deliver Tapestry on time and on budget, and provide this community with an environmentally-friendly and aestheticallypleasing housing option,” he said upon acceptance of the award. Located at a site where there were once vacant lots and a temporary storage facility, Lettire purchased the land based on its close proximity to the planned 125th Street rezoning area, envisioning that city-owned adjacent parcels could be incorporated into the development. Tapestry thereby became one of the first projects to be developed as part of the 125th Street River to River Rezoning, a multi-city agency rezoning effort to infuse the area with cultural, retail, entertainment and more affordable housing for Harlem residents. Specifically, Tapestry is a 185-unit, mixeduse and mixed-income, sustainable affordable multifamily and retail development which, in addition to the environmentally friendly residences, the property is a full-service building featuring a gym, common roof deck, green roofs, over 8,000 square-feet in ground-floor retail space and a parking
garage. Tapestry also meets the Enterprise Green Communities Criteria dedicated to supporting the health of its residents and of the natural environment, to promote community improvement. These projects, along with another green project, Ciena-Hobbs in East Harlem, comprised of two buildings offering 339 units of affordable housing incorporating numerous sustainable elements featuring Lettire Construction as the co-developer and contractor, all combine to best represent the firm’s outstanding commitment to sustainable affordable living in the New York City area. It is no surprise, therefore, that Mr. Lettire was also honored with 2010 Private Sector Partner of the Year Award by The Supportive Housing Network of New York, for his commitment to building high quality supportive housing for New Yorkers as they work to rebuild their lives. “Lettire has always been committed to addressing the need for high-quality, sustainable affordable properties for emerging neighborhoods throughout the city,” Mr. Lettire says, “and we couldn’t be more pleased with these results.”
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BG Studio Internatio Making Waves ... From Sea to Land
Self-proclaimed ‘mood creators,’
BG Studio International is now introducing its decade-long success as an internationally recognized and award-winning maritime interiors designer to the signature hospitality, luxury commercial and residential interiors marketplace. “Residential and commercial developers love our design, budget commitment, and guaranteed time of completion,” says Francesca Bucci, Co-Founder and Principal. And why shouldn’t they? As a worldwide leader in cruise ship design, BG Studio’s maritime clients have been able to measure the financial contributions from BG’s matchless designs. “We not only provide an aesthetic value, but also a marketing value since passengers need to be entertained 24/7 in the confined space of a ship,” adds Hans J. Galutera, Co-Founder and Principal, who also serves as the President of the Internaional Interior Design Association (IIDA) of New York. “Our work therefore must be a revenue-generator for our clients to remain profitable in the highly successful cruise ship industry.”
Blending Two Worlds
Just as BG Studio’s principal design duo, Francesca and Hans, have blended their training from two different worlds (hers in historic Rome where she was classically trained, and his in Australia where he developed a flair for dramatic design), so too have they been able to transfer their success from the seemingly opposing worlds of sea and land. “Our idea is to complement our cruise design by bringing it to projects on land in ways that have never before been done,” Francesca says. Their dynamic design is perhaps best reflected in the award-winning 1,636-squarefoot Reflection Suite, which includes a 194-square-foot veranda, created for Celebrity Cruise Lines’ first two-bedroom suite, complete with a distinctive sea-view bathroom and soothing rain shower. Winner of an SBID International Design Award in 2012, this suite is nestled in a distinctive corner located on the ship’s 14th deck, boasting floorto-ceiling windows and veranda doors, each designed to maximize the stunning views of
the sea. Further, the area can be accessed only by cardkey, exclusively among guests booked in this luxurious suite, with 24/7 butler service and a premium Reverie® Dream Sleep System™ mattress that they can customize. But perhaps the Suite’s ‘crowning jewel’ is the never-before constructed all-glass shower, which creates a ‘sea-view’ extending out over the edge of the ship, enabling passengers “to feel as though they, themselves, are floating on the sea,” Francesca says. Due to the shower’s reflective glass, however, no one can see in. At the flick of a switch, guests can activate an electrochromatic technology which instantly transforms the glass from transparent to translucent. A special technology was also installed so, if guests prefer, the glass can be automatically transformed for them. “It provides complete privacy,” she adds. This is only one example, however, of the luxurious amenities unique to BG Studio’s innovative design sensibility. Since, as Hans says, ‘flow and circulation are very important ingredients in our cruise ship expertise,” BG Studio has become an expert in hospitality design and technical details. As cruise ship architects, the firm is constantly challenged by highly restricted codes (SOLAS) which are the most stringent codes outside of the medical environment. Further challenged by a full range of environmental conditions (salt, humidity, heat, cold, wind), movement and vibrations, BG Studio has become particularly adept at designing small spaces (similar to hotel and residential projects) while under very tight timelines . “If a cruise ship owner misses a deadline, they are financially penalized,” Francesca adds. “We therefore make sure we will never, ever, miss a deadline!”
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“Residential and commercial developers love our design, budget commitment, and guaranteed time of completion.”
— Francesca Bucci, Co-Founder and Principal The Sea’s Benefits on Land
But one need only do a quick tour of Manhattan to witness the benefits of bringing nautical design to land. Starting in Lower Manhattan, you will witness the innovative designs unique to BG Studio’s craft at Liberty Luxe/Liberty Green in Battery Park. Here, BG Studio was hired by Roseland and Millstein properties to design everything from the Lobby, Mail Room, Elevator Lobbies, Elevator Cabs, Residents Club Lounge, Children’s Lounge, Billiard Lounge, Theater Lounge, Business Center, Sales Lease Center, Typical Hallways, Fitness Rooms, Massage Rooms, and Rooftop Deck Lounge, For Liberty Luxe, specifically, BG Studio displayed its uniquely developed craft by incorporating sleek stainless steel accents with transitional luxury European detailing throughout the interior spaces. Cristobal Claro Pillowed Teak Wood Wall are featured adjacent to Figured Anigre Wood Wall Panels, and accented with Wolf-Gordon’s RickRack Ivory Wallcovering throughout the Main Lobby, while Brazilian Walnut graces the flooring throughout. A warm welcoming Chocolate Labrador stone granite accent is used cleverly at the Concierge with Decorative Light Fixtures specifically customized to create a stunning interior lobby residential reception. At Liberty Green, BG Studio converged various design elements on the contemporary spaces of this luxury property. In disparity to its sister Liberty Luxe, this building was designed to be more modern by featuring White Quartzite Stone in Cleft Finish contrasted with Polished Calcatta Gold Slabs for the wall accents and the Concierge Reception. Wall features of Thalweg Carved Wood Panels were designed both vertically and on the ceiling to enhance the contemporary edge of the interior spaces. Luxurious Solid Wood Flooring of Hardwood Merbeau Coffee and Bendheim Wall Glass Panels were also used throughout the lobby. Further, the main wall feature is customized and commissioned from well-known glass artist, Paul Housberg. The careful selection of these materials helped to ensure that both Liberty Luxe and Liberty Green meet LEED Gold Standards. Also Downtown, developer The Witkoff Group selected BG Studio to define their luxury residences in the heart of Wall Street at 10 Hanover Square. When the former 40story Goldman Sachs building was being converted into sleek 22 • www.sokolmediaonline.com
Celebrity Reflection Master Bathroom viewed from Exterior
Celebrity Signature Suite Stateroom
Celebrity Reflection’s Martini Bar
Celebrity Signature Suite Master Bathroom accented with Hirsh Signature Tile
Celebrity Reflection Passport Bar
Liberty Green Main Lobby
Liberty Luxe Children’s Room
Liberty Luxe Fitness/Yoga Room
Liberty Green Rooftop Lounge
Celebrity Reflection Signature Hallway
Celebrity Reflection’s Martini Bar
www.sokolmediaonline.com • 23
10 Hanover Square Screening Lounge
184 Lexington Typical Kitchen
184 Lexington Main Lobby
10 Hanover Square Sales/Lease Center
10 Hanover Square Club Lounge
“We set our clients’ environments apart from any other, allowing them to make the biggest waves on land.”
— Hans J. Galutera, Co-Founder and Principal modern apartments with every amenity available, BG Studio inserted earthy industrial finishes to soften the look, as well as clean corporate lines to define the ultimate downtown lifestyle. The light filled lobby was infused with stylized natural elements giving the inside space an outdoor feel, while Macassar ebony was lavished alongside eco-friendly bamboo embedded resin panels and bronze metals. UDR, an independent real estate investment trust, purchased the property in 2011 and hired BG Studio to re-design the building as part of its re-branding strategy. Moving up to the Lower East Side, AvalonBay Communities selected BG Studio to lend its design ingenuity to 229 Chrystie Place, a large residential development in a 14-story, Dutch Warehouse styled edifice. The building encompasses a whole city block and seeks to create an ultra hip sense of living within one of the most densely populated cities in the world. Together with Arquitectonica and architects of Record SLCE, BG Studio gave shape to Chrystie Place by ensuring that the exposed load bearing columns were punctuated by stainless steel and glass features, allowing these strong structural elements to combine with rich multicultural woods and organic 24 • www.sokolmediaonline.com
materials as homage to the ethnic and industrial diversity outside of its walls. Moving further North to 184 Lexington Avenue, where the developer (Hakimian Organization) actively sought a sleek urban design with nautical accents, BG Studio was selected to design the Lobby, Mail Room, Elevator Lobbies, Elevator Cabs, Rooftop Deck Lounge, Hallways, Kitchens and Bathrooms. Innovative elements were the inspiration throughout the interior spaces, where White Oak Pearl Wood Veneer adjacent to Pearlescent White Customized Wall Panels accented with polished stainless graced the Main Lobby. The flooring throughout included Siberian White Marble accented with polished stainless steel, and the Concierge Reception incorporated customized stainless steel throughout, which gives the interior perpetuity of dynamism and constancy of motion. “Our design of retail, commercial and residential spaces on land are clearly taken from those we design at sea, providing a unique and unprecedented environment to all those who experience it.” Hans says. “This sets our clients’ environments apart from any other, allowing them to make the biggest waves on land.”
Client List AvalonBay Communities Celebrity Cruises The Hakimian Organization Showtime Jack Resnick and Sons Inc The Moinian Group Nakheel Enterprises Renaissance Properties New York Roseland Property Co. Royal Caribbean International The Witkoff Group UDR Inc.
JAN U S e t Ci e CO N G R AT U L ATES BG S TUDIO INTER N ATION A L O N T HE I R C O N TI NUE D
S UCCE S S
G LOBA L
LEA DER S HIP
HOSPI TALI T Y,
CO M M E RCIA L, R E S IDENTIA L A ND M A R ITIM E INTER IOR S.
T H E B E S T F U R N I T U R E T O S U N I N , D I N E O N , O R S I M P LY L O O K A T . . . I N D O O R S O R O U T 速 W W W. J A N U S E T C I E . C O M
W W W. S H O P J A N U S E T C I E . C O M
Congratulations to Francesca Bucci and Hans J. Galutera of BG Studio International
www.wolf-gordon.com 800 347 0550
Districts for DESIGNERS
Faith’s Fashion Focus:
Caliente Miami F
orget the snowbirds and sun — Miami is one of the hot new retail destinations in the world. Fueled by rapid population growth, and increased tourism from South America (and the rest of the world), the retail scene here has exploded in recent years, and continues to evolve. Visit and watch a world style capital grow! About Miami Once inhabited by the Tequesta people, the Miami area was visited by Spain’s Pedro Menéndez de Aviles in 1566 and a settlement established a year later. British settlers arrived about 1800. It continued to grow after Florida became part of the United States in 1845, becoming an official city in 1896. That move, and the establishment of a railroad, turned what had been a sleepy town into a rapidly growing Southern city, with the population rising from some 1,700 people in 1900 to nearly 30,000 in 1920. . A land boom in the 1920s, followed by the establishment of military bases in the area
during World War II and the immigration of Cubans to the region in the 1980s and 1990s, created much of what we know of Miami today. A major port, the entry for many South American visitors, and a haven for snowbirds, Miami continues to evolve – and so does its retail.
Shop Miami By Faith Hope Consolo Chairman, Retail Leasing and Sales Division Prudential Douglas Elliman
Until recently, Miami’s shopping centered around suburban malls, including some of the best and toniest in the country. Today, Downtown Miami is surging, with a redeveloping Design District beginning to rival some classic locations. www.sokolmediaonline.com • 27
Aventura Mall (19501 Biscayne Boulevard) is the quintessential designer suburban megamall, anchored Bloomingdale’s, Nordstrom, Macy’s, JCPenney, Sears, and a soon-to-open Nordstrom. Recent new tenants include Breitling, Montblanc, Omega, Cartier, joining such international names as Burberry, Herve Leger, Dodo, Desigual, Cotton On, Fendi, Louis Vuitton, and Paul & Shark. The Falls (8888 SW 136th Street) features better retail (including Crate & Barrel, Brooks Brothers, Apple, and Charles David) in a beautiful open-air setting boasting waterways and tropical landscaping that’s made for wandering. The Design District, the 18 square blocks between North 36th Street and North 43rd Street, West First Avenue and Biscayne Boulevard, is becoming a haven for high-end retailers, rivaling Bal Harbour. Look for home furnishings from Luminaire (3901 NE 2nd Avenue), Kartell (155 NE 40th Street), Fendi Casa (NE 39th Street), Ligne Rosset (NE 40th Street), Vitra (4141 NE 2nd Avenue), and Jonathan Adler (4040 NE 2nd Avenue) among others, and highend fashion brands such as Marni (3930 N.E. 2nd Avenue), Prada (180 NE 40th Street), Cartier (151 NE 40th Street), Celine (191 NE 40th Street) and Chris28 • www.sokolmediaonline.com
tian Louboutin (155 NE 40th Street). EnAvance (161 East 40th Street) is a mini luxury department store with carefully edited collections of apparel, jewels and home goods. The area is still developing and leasing, but a major coup is the recent deal for Louis Vuitton, Hermes, Cartier, and Christian Dior to relocate from Bal Harbour. Also coming in the year ahead are Fendi, Bulgari, Marc by Marc Jacobs, Pucci, Tom Ford and DeBeers, reports say. And for more practical purchases, the Shops at Midtown Miami (3401 N. Miami Avenue), whose tenants include Target, HomeGoods, Petsmart, West Elm and Marshalls. Despite a few relocations, The Shops at Bal Harbour (9700 Collins Avenue) remains a local legend, with plans for more: a long-awaited expansion is finally going forward, and anchors Neiman Marcus and Saks Fifth Avenue continue to dominate. Marni has a second location there, and Tory Burch and Hedi Slimane’s new concept for Yves St. Laurent have just debuted. They join a lineup that rivals the world’s great fashion streets: Bottega Veneta, Dolce & Gabbana, Etro, Giorgio Armani, Jimmy Choo, Roger Vivier, Bulgari, Chanel, intermix, Alexander McQueen, DeBeers, Bonpoint and more. Coming soon are expansions of Brioni, Audemars Piguet, Loro Piana and a relocated de Grisogono. In Coral Gables, visit the Miracle Mile downtown for a similar posh experience, with many of these designers represented in boutiques with a distinct point of view. And of course, the other centers in the area continue to serve their own communities, including Dadeland Mall, Dolphin Mall, CocoWalk, Bayside Marketplace, the Village at Merrick Park and more. Who has time to sit in the sun?
Dine Miami Besides a collection of the greatest fashion designers and jewelers in the world, Bal Harbour has some terrific dining options: haute cuisine from La Goulue, fun fare from Carpaccio, the Segafredo outdoor café/lounge, Iron Chef Makoto Okuwa’s elegant Makoto Restaurant; and the Madmac chocolate lounge for a
sweet treat. The Design District has some exciting dining action. Michael’s Genuine Food and Drink (130 NE 40th Street), a pioneer in the district, celebrates local harvesting (the menu changes daily based on what’s available). Harry’s Pizzeria (3918 N. Miami Avenue) offers casual fare. Late 2012 saw a spate of openings: MC Kitchen from chef Dena Marino offers Italian dining with an open kitchen. Oak Tavern from David Bracha (45 NE 40th Street) is named for the giant oak tree in the patio, and serves his own take on American cuisine. Looking for a 1950s nightclub feel? Try South Street Restaurant & Bar (4000 NE 2nd Avenue.) Midtown continues to see new openings, too. George’s Kitchen (3404 North Miami Avenue) is the latest affordable French concept from George-Eric Farge (who also has restaurants in South Miami and Coconut Grove). Machiya Ramen Noodle House allows you to customize your bowls at 3250 NE 1st Avenue. Try dessert at ACME Bakery & Coffee (3451 NE 1st Avenue). In Downtown/Brickell, some of the newer offerings include Pan-Latin steakhouse Toro Toro, an import from Dubai at 100 Chopin Plaza. The Hoxton (1111 South 1st Avenue) is a bit of the Hamptons waaay south. The TIKL raw bar grill (1450 Brickell Avenue) offers small plates in a fun atmosphere.
Stay in Miami As a major resort city, Miami offers literally hundreds of places in all prices ranges to stay. The Ritz-Carlton Coconut Grove (3300 SW 27th Avenue, Coconut Grove) is convenient to downtown. Hilton Miami Downtown (1601 Biscayne Boulevard) offers panoramic views of the Bay close to South Beach, the downtown performing arts district and the Miracle Mile in Coral Gables. The Midtown Inn Miami (3400 Biscayne Boulevard) is convenient to downtown and the causeway to South Beach. Convenient to Bal Harbour are the St. Regis Bal Harbour (9703 Collins Avenue) and One Bal Harbour Resort & Spa in nearby Miami Beach (10295 Collins Avenue). Future articles will go into more depth on these and other fashion destinations. Meanwhile, pick a neighborhood and start exploring! Happy Shopping!
The Real Estate Board of New York
REBNY Annual Report: 2012 a successful and productive year for industry’s most influential trade organization Membership milestone is reached as REBNY now counts over 13,000 members Challenges including Superstorm Sandy demonstrated industry’s resilience and hard work of members The Real Estate Board of New York
(REBNY) 2012 Annual Report confirms that the year was a busy and successful one for the city’s leading real estate trade association. The report details the efforts and activities of REBNY on behalf of its members over the course of the year including advocating on important issues on the city, state and federal levels to improve the real estate industry, and enhance the vitality of the New York City economy. Many of the successes outlined in the Report highlight the efforts of Mary Ann Tighe who concluded her dynamic, threeyear term as Chairman of REBNY at the end of 2012. She was REBNY’s first female Chairman in the organization’s 117-year history. She provided extraordinary leadership over this past year, and throughout her chairmanship, with several initiatives to further the vitality and competitiveness of New York City on a global scale. Chairman Tighe focused attention on the pressing need to open East Midtown to new development. Her forthright advocacy proved instrumental in the Department of City Planning’s decision to initiate a Midtown East Rezoning Plan. By identifying zoning impediments to build new iconic office buildings on overbuilt sites, rezoning East Midtown will invigorate and strengthen its position as one of the world’s preeminent office districts by attracting new businesses. Additionally, she urged the City to keep an open option for a No. 7 line subway station at West 41st and 10th Avenue that will make the much-needed future station on the far West Side a reality. Also under Chairman Tighe’s leadership, REBNY successfully advocated for the renewal of two major NYC economic development programs: the 421a Program and the Industrial and Commercial Abatement Program (ICAP). Both of these programs are critical and work to encourage capital investment in new housing, commercial development and renovation, as well as offset the heavy tax burden the real property tax system places on these properties. Chairman Tighe’s contributions to the membership include raising REBNY’s digital presence by calling for an upgrade of the website and creating a new identity on social media outlets like Twitter and Facebook. REBNY currently boasts more than 15,000 Twitter followers and more than 3,200 Facebook fans— a huge feat in such a short period of time. More broadly, REBNY had many legislative achievements to be proud of in 2012. REBNY’s advocacy was critical as the
city moved to change the way crane operators are trained and licensed. Because of REBNY’s efforts, the changes enacted by the NYC Department of Buildings (DOB) will result in safer construction worksites moving forward. REBNY’s involvement and support of the second year of the Committee to Save New York gave terrific impetus to the effort by Governor Cuomo and the State Legislature to put New York State on sounder fiscal footing. On a federal level, REBNY played an important role in a successful Court of Appeal’s decision which should help the industry to stem the abuses caused by the Interstate Lands Sales Act (ILSA) in New York City. The Report also cites several economic development initiatives that REBNY has been a long-time proponent for that were successful in moving forward in various stages in 2012 such as the NYU planned expansion, the Chelsea Market planned expansion, Barclays Center, and Willets Point. While the year was positive overall, the New York City and Tri-State region faced great challenges in the wake of Superstorm Sandy. Many properties were greatly affected as a result of the storm’s impact, especially in Lower Manhattan. REBNY was instrumental in providing information and services to assist in the recovery efforts including the compilation of available office space to displaced tenants. The response and resiliency of the members overall proved incredible with property managers and owners making arrangements and around-the-clock-repairs to bring back tenants in record time. The REBNY 2012 Annual Report also highlights the many benefits, tools and educational resources that were available to members throughout the year. REBNY managed and hosted 38 special events and educational seminars in 2012. Additionally, invaluable data reports on the residential and retail markets were distributed to members. REBNY also created new data platforms including Legal Line Question of the Week, Numbers You Need to Know, and the Brokerage Division Confidence Survey. Additional highlights of REBNY’s efforts and activities in 2012 include work on the Living Wage legislation; the Prevailing Wage bill; 32BJ; Paid Sick leave; the Green Building Study; the Carbon Monoxide detector law; and the Real Property Income and Expense (RPIE) bill. A full copy of the REBNY 2012 Annual Report can be found at www. REBNY.com.
www.sokolmediaonline.com • 29
The Real Estate Board of New York
Following the events of Hurricane Sandy, many building owners and managers may seek the assistance of environmental remediation contractors. These contractors specialize in everything from minor water leaks affecting a single room in a private residence, to catastrophic losses requiring environmental remediation, demolition, and complete reconstruction of commercial structures. Please find a list of companies currently offering their services below. Company ATCO Contracting Group, Inc. The Atelier Companies ATI Restoration
Contact Number Peter Viennas (631) 627-3920 Charles Birnbaum (917) 538-2136 Jim Aurricchio (908) 268-4031 Frank Conner (973) 349-2567 Ceres Environmental Services, Inc. Mark Luckhardt (612) 369-9160 C McCormack Inc. Joe McCormack (212) 674-2759 Degmor Inc. Peter Zajac (917) 418-2032 Danny Fontana (917) 418-0808 Morris Napolitano (917) 418-5197 Dempsey Partners Jill Dalton (212) 319-8717 Eclectic Builders Sean Robinson (917) 640-9536 Essential Design + Build (ATCO) Peter DiCapua (646) 706-2480 Federal Pump Co. Nick Arroyo (347) 234-6546 Instar Services Group Arnie Mascali (908) 507-7436 Maxons Restorations, Inc. Howard White (212) 447-6767 NCM Fred Maier (201) 206-1249 PAL Environmental Aric Domozick (917) 807-0589 If you are a contractor interested in being listed above, please email Ryan Baxter at RBaxter@REBNY.com Frank Noviello, Tishman Constructionâ€™s general superintendent, has agreed to provide technical guidance for our members. If you need help selecting a restoration or remediation company, he can be reached at: (631) 339-3250. Joyce Nastasi, the Executive Director of the Environmental Contractors Association, which is a group of 45 environmental contractors who are fully equipped and insured to handle cleanups, has volunteered to coordinate contact with her membership. She can be reached at: (908) 451-2750.
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Calendar of Events
FEBRUARY & MARCH FEBRUARY February 5 Luncheon Program featuring guest speaker Rob Speyer, President and Co-CEO of Tishman Speyer and Chairman of REBNY 11:30 AM – 1:00 PM Club 101, 101 Park Avenue at 40th Street AREW Members: $0 | Other CREW Chapter Members: $100 | Non-Members: $120, www.arew.org
February 22 REBNY Residential Division’s Brooklyn Committee Presents: Are You A Messenger Or A Negotiator? 9 am – 11:30 am St. Francis College Founders Hall 182 Remsen Street, Brooklyn Registration Required Register Online: www.rebny.com
February 26 Professional Women in Construction Building Science: New York City Projects Continuing Ed: AIA/CES Credit: 1 HSW unit General Society, 20 West 44th St., NYC Visit www.pwcusa.org for further information
February 27 REBNY Residential Management Leadership Breakfast 8:30 am – 10 am The Roosevelt Hotel 45 East 45th Street Registration Required Contact: Cindy Ramotar, email@example.com
MARCH March 2 AIANY AT THE CENTER Winter 2013 ARE Boot Camp: Site Planning and Design (SPD) 1:00 PM - 4:00 PM
Luncheon Program featuring Gary Barnett, President of Extell Development Company 11:30 AM – 1:00 PM Club 101, 101 Park Avenue at 40th Street AREW Members: $0 | Other CREW Chapter Members: $100 | Non-Members: $120, www.arew.org
AIANY AT THE CENTER CES/Continuing Education Credits, Building Codes Cracking the Code 8:00 AM - 12:00 PM A four-hour course to familiarize architects and engineers with the ECCCNYS-2010 and Energy Conservation Code of New York City
March 6 Professional Women in Construction Meet the Construction Chiefs 5:30 to 8 pm. Club 101, 101 Park Ave, NYC. Speakers to be announced. Visit www.pwcusa.org for further information
March 6 AIANY AT THE CENTER Guided Exhibition Tour of The Edgeless School and Building Connections
March 7 AIANY AT THE CENTER Cracking the Code 8:00 AM - 12:00 PM A four-hour course to familiarize architects and engineers with the ECCCNYS-2010 and Energy Conservation Code of New York City (Local Law 1 - 2011)
March 9 AIANY AT THE CENTER Building Science, Professional Development, Emerging Professionals Winter 2013 ARE Boot Camp: Programming, Planning and Practice (PPP) 1:00 PM - 4:00 PM
March 15 AIANY AT THE CENTER A.R.E. Structures Seminar by David J. Thaddeus, AIA, NCARB (Day 1 of 3, 3/2013) - SOLD OUT 8:00 AM - 7:00 PM The ARE Structures, Seminar covers the Structural Systems division of the ARE, including General Structures, Lateral Forces and the Structural Framing Vignette
March 16 AIANY AT THE CENTER A.R.E. Structures Seminar by David J. Thaddeus, AIA, NCARB (Day 2 of 3, 3/2013) - Sold Out 8:00 AM - 7:00 PM
March 16 Professional Women in Construction Salute to Women of Achievement Luncheon Visit www.pwcusa.org for further information
March 17 AIANY AT THE CENTER A.R.E. Structures Seminar by David J. Thaddeus, AIA, NCARB (Day 3 of 3, 3/2013) 8:00 AM - 7:00 PM
AIANY AT THE CENTER Oculus Book Talk: Marvin Mass, The Invisible Architect 6:00 PM - 8:00 PM
REBNY Residential Ethics Course for New Members 9 am – 10:30 am REBNY Mendik Education Center 570 Lexington Avenue Registration Required Contact: Angela Donovan, firstname.lastname@example.org www.sokolmediaonline.com • 31
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