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Long Island City Pepsi Sign Becomes a Designated Landmark

Long Island City Pepsi Sign Becomes a Designated Landmark

 

An Iconic tribute to history was recently saved when the Landmarks Preservation Commission designated the Queens-based Pepsi-Cola sign a landmark. The monumental sign, sitting high above the streets of Long Island City, lends value and a sense of pride to its surrounding community.  The pre-war sign built in 1936 is a time honored symbol of New York’s Architecture  and will now continue to be looked upon by both tourists and New Yorkers alike.

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Long Island Construction: The Case for change in Suffolk and Nassau

Steven Vornea

 

Long Island is home to city dwellers, executives and celebrities. The potential boom in commercial real estate has become a hot topic in recent years. Specifications on building height and multifamily building has CRE industry insiders concerned about the landscape of the borough and maintaining its suburban-like atmosphere.

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Why I’m Involved with Campus Evolution Villages, Real Estate Focused on the Future

Going to college and planning for the future is a rite of passage. It’s that proud moment when mothers and fathers watch the next generation move on into adulthood. Inflation, the job market and interest rates can sometimes make the rite of passage a tough heavy financial sacrifice. I’m involved with the Campus Evolution Villages project to help transform quality housing into a lifestyle that parents and working students can’t afford to pass up. 


 

Millennials want to compete, study and live in a great property with space and amenities. Campus Evolution is true to its name. The development is the future of real estate near college campus locations across the country in emerging diverse areas. Students should have a lifestyle that promotes living a great life while they study. A fully furnished tech-friendly apartment built into a community of like-minded students will accommodate that.

This development sets a new standard in the real estate world for commercial and residential development. Millennials need a place to dwell where they can succeed and grow. There’s so much potential to upgrade real estate and transform its use from the traditional college housing standards. My hope for the future is that this type of building will continue to grow.

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Brooklyn is Now One of America’s Most Expensive Neighborhoods

Steven Vornea Williamsburg Brooklyn

Brooklyn's retail rents are among America's priciest, beating out some of Chicago and Miami's costliest neighborhoods. CPEX Real Estate have released a new report ranking the most expensive retail corridors in the US and Williamsburg is taking center stage. As the neighborhood’s demographic shifts from Hipster to Magpies (mature adults go partying in style) we have seen an increase in condominium construction and as a result, rents and when the rents go up, retailers follow in pursuit.

This article in Crainsnewyork.com by Senior Reporter Joe Anuta gives us the full report as well as an overview of how Brooklyn compares with other retail corridors, taking out 3 of the 10 top locations for price per square footage.

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Salesforce plans takeover of MetLife Tower near Bryant Park

1095 Sixth Ave

By Bloomberg News

Salesforce.com Inc. is stepping up its presence in New York City with a plan that would give it naming rights to a Manhattan skyscraper.

The developer of cloud-based business software said it will take space at 3 Bryant Park, a 41-story, 1.2 million-square-foot tower in midtown. Under the deal, the building would be renamed Salesforce Tower New York, and the company's logo would replace that of MetLife Inc. at the top of the property after the insurer leaves, said Elizabeth Pinkham, executive vice president for global real estate at San Francisco-based Salesforce.

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Real Time Construction in NYC’s 5 Boroughs

Steven Vornea 5 Boroughs

Aside from word of mouth, those of us in New York’s real estate finance use several information sources to find out what’s happening or about to happen in commercial real estate and construction. This type of information helps me to formulate value and determine motivation which, is a useful tool when structuring deals. I think of New York City as my office and I like to know what’s going on in my office.

See also: New York Development Continues on a Large Scale

TDR have a data hub that is accessible to the public which shows accepted condominium plans, permit applications, issued permits, hotel market reports and leases.

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New York Development Continues on a Large Scale

Steven Vornea New York Development

There has been much discussion and speculation since Governor Cuomo’s State of the State speech in December about the development of New York’s infrastructure. In his speech he outlined plans for a new airport at La Guardia, an architectural revision of JFK Airport, a 6-million-dollar upgrade to McArthur Airport and an overhaul of NYC’s mass transit system including a Penn Station transformation plan.

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There’s an Amazing New Addition to NYC’s High Line Park

Steven Vornea High Line

Prismatic_NYC, an architectural piece which responds to weather conditions has been installed in the ceiling of a walkway that stretches over the High Line park. Although it isn’t open to the public, this inspiring work can be seen publicly from Little W 12th St up to 20th St. Made up of 66 individual prisms embedded in the ceiling, each rotates 120 degrees, responding to informational data on the weather, moon-phases, the Hudson tide and calendar. Manhattan firm Interior Architects teamed up with Bill Galusha and Hyphen-Labs to produce this spectacular addition to the Manhattan skyline. This work joins several large scale murals, video and site specific works including Spencer Finch’s “The River That Flows Both Ways,” located in the Chelsea Market Passage.

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6 Tips for Negotiating Your First Real Estate Purchase

Steven Vorenea Real Estate Tips

When it comes to investing in real estate, everyone needs to start somewhere and buying your first home is a great first step in learning how to negotiate with sellers. A large part of my role as a real estate and development consultant is structuring large deals at a round table with parties who are playing to win. You can find out more about my humble beginnings on stevenvornea.com and how I got to where I am today.

These starter tips will not only help you with your first purchase, they will serve you in other negotiations whether they are billion dollar deals or buying a TV.

Do your homework

It is most important that you enter the negotiation armed with knowledge and preparation. Knowing the ins and outs of the current market in the home’s particular area should be in your arsenal. Is it a buyer or seller’s market? This will affect how you should negotiate. If it is a buyer’s market, you have some leeway. If it is a seller’s market, you won’t have much clout and will need to present a “clean,” attractive offer. Know the neighborhood. If you are aware of comparable properties you will have realistic expectations about prices. Have your finances in order. This is the most important factor and although it’s not imperative, it certainly gives you significant leverage during your negotiations.

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Great Examples of the Art of the Possible

Steven Vornea Babe Ruth Baseball

The American Dream is built on rags to riches stories and growing up with limited means, raised by immigrant parents, I am grateful to be where I am today. My first job at age 11 was working in the local markets where I learned many life lessons I still rely on today. Hard work, determination and self-development are the cornerstone of my approach to business. That is, with the Art of the Possible which, you can read more about here. Entrepreneur recently published this piece by Jaqueline Whitmore about 3 famous people’s journey to success.

Read 3 Famous People Who Started With Little but Achieved Great Success.

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Even More Amazing Historical Images of New York Are Now Available

Steven Vornea Chrysler Building

If you’ve been following my blog, you’ll see that I have an ongoing interest in the history of New York architecture. Many people are unaware that for years, the New York public library has given free access to their Public Domain Collection which is a digital archive of thousands of images of historical significance. This week, Archdaily reported that the library made 180,000 more images available for download.

Here is the story by David Douglass-Jaimes.

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These Are the Best Architecture Images from the NYPL’s New Public Domain Collection

Last week the New York Public Librarymade over 180,000 images from their digital archives available in the public domain, and free for high-resolution download. Not only are the images available for download, but since they are in the public domain and free of any copyright restrictions, users have the freedom to get creative and alter, modify, and reuse the images in any manner they see fit. Featuring a wide variety of images including drawings, engravings, photographs, maps, postcards, and in some cases, digitized copies of entire books,the collection has been noted for fascinating historical artifacts such as a set ofcolor drawings of Egyptian gods and goddesses, and a digitized book from the 18th century containing over400 color plates depicting various current and historical fashion trends.

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New York Commits to Penn Station Transformation Plan

SV Jan 13 penn station

If you’re like me, you have been following the progression of the proposed extension to Pennsylvania Station. The project started several decades ago and since then, it has been through several iterations. Namely, Farley 1, 2, 3, 4 and 5. This week, Arch Daily posted an article about final plans by Governor Cuomo to break ground in 2019. Today, the Governor presents a spending plan of over 140 billion for proposals throughout NYC of which the expansion of Penn Station is one.

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By Karissa Rosenfield

Governor Andrew Cuomo has laid out plans to transformNew York's congested Pennsylvania Station and neighboring James A. Farley Post Office into a world-class transportation hub.Penn Station, North America's busiest train station, was originally designed in 1910 to accommodate 200,000; currently it's serving more than 650,000 passengers each day. Though a number of firms have been enlisted in the past to re-imagine the station, the project's developer has yet to chose an official architect. 

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The Future of NYC Real Estate

 

New developments in the way we approach real estate in New York affect the whole city. Architects, Developers and Planners are always looking for ways to create more sustainable buildings using new technologies. Kathryn Brenzel wrote this excellent article in The Real Deal, a publication that specializes in covering New York real estate news, about predicted developments in New York City construction.

steve vornea bog

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The Hudson Yards Culture Shed, a yet-to-be-built arts and performance space at 10 Hudson Yards, just might wind up being the Batmobile of buildings. Dormant, it’s a glassy fortress. Animated, it will be able to extend its wings so-to-speak by sliding out a retractable exterior as a canopy.

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New York’s Grand Federal Hall to Be Restored to Its Former Glory

I always like to keep up with new developments when it comes to historical landmarks in New York City. There are many groups and interested individuals, myself included who work hard to maintain the cultural integrity of the city. This is an interesting update written by Geoffrey Montes, featured recently in Architectural Digest about Grand Federal Hall.

Steven Vornea Grand federal Hall

With a handsome Greek Revival façade, deep historic roots, and a coveted Wall Street address, New York’s Federal Hall National Memorial is one of the city’s most significant landmarks, though perhaps one of its least well-known. Built in 1842, the collonaded edifice replaced the site’s original 18th-century government building, which hosted the first session of the U.S. Congress as well as George Washington’s 1789 inauguration. A bronze statue commemorating the latter event, designed by John Quincy Adams Ward, stands on the front steps of the current structure, which initially served as a customs house. In recent years it has been a free museum dedicated to President Washington and historic events that happened at the site.

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My Love of NYC and How That Led Me to Real Estate

The Vornea New York origin story

The premier gateway for legal immigration into the United States, my Romanian father and Hungarian mother took their chances in a city that promised unlimited potential for growth and a better lifestyle in the future. My sister and I grew up with limited means in Bethpage, a hamlet in Long Island known for its size (small) and being the home of the Grunman Aircraft Engineering Corporation who made the F-14  Tomcat and the Apollo Lunar Excursion Module. Bethpage was built on building.

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Steven Vornea’s Ultimate Pastrami on Rye

Pastrami

This is the big boy in the sandwich. Without beautiful base of the pastrami, the onion marmalade would not be able to sing its sweet song and the Swiss cheese would not be able to provide the treble. Often overlooked, the bread conducts the orchestra.

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