The Gladstone family has a long history of construction in New York, and the family’s current venture, Madison Equities, was founded in the mid-1960’s. Now, Madison is behind what will imminently become the first actual residential supertall below 34th Street in Manhattan, with 45 Broad Street set to rise 1,127 feet to its peak. Last week, Madison Equities’ CEO Robert Gladstone sat down with YIMBY to talk about that project, as well as everything else in the firm’s pipeline for the Five Boroughs.
YIMBY recently sat down with Larry Silverstein to discuss his firm’s upcoming projects, as well as the status of the World Trade Center’s last remaining office supertall-to-be, at 200 Greenwich Street. With 3,000 new rental units in the works and Norman Foster’s design still on the table for Two World Trade Center, the scope of work Mr. Silverstein is undertaking is also now expanding into Journal Square and Queens.
Until 2017, residential development in downtown Newark was largely a figment of developers’ imaginations. Over the decade prior, proposals were ambitious but financing was scarce. The one project that had gained financing, Eleven80, a rehabilitation-and-reuse of a long dormant former office building, had gone into foreclosure in 2009, reemerging several years later as a diamond in the rough, Downtown’s lone successful project. Meanwhile, supporting retail was extremely limited.
Since its founding in 1990, Kenneth Horn’s Alchemy Properties has acquired over two million square feet of residential space in New York City. During those 28 years, Mr. Horn has personally overseen the sales of $2 billion of real estate, all with a staff of about thirty people. With a full slate of new developments in the works, YIMBY sat down with Ken to discuss the firm’s current plans.
While YIMBY normally covers aggregate new building applications on an annual basis, this year, we have released our first mid-year pipeline report, and the results are surprisingly positive. After two years of declining applications following the frenzies of 2014 and 2015, the preliminary numbers for 2018 appear to be signaling a major uptick in activity. Year-over-year filings of new residential units have grown substantially, rising from 9,134 in the first six months of 2017, to 15,305 in 2018 — an increase of 67.5%.