Crains New York - August 20, 2012 - (Page 12)

IN THE BOROUGHS MANHATTAN Hamilton Heights Continued from Page 3 of a rebirth. BusinessWeek recently hailed the Founding Father as a “federalist hunk,” and noted that others are calling him a “stud.” Meanwhile, Trinity Cemetery, home of John James Audubon and John Jacob Astor, up on West 153rd Street, is drawing ever more visitors. More concretely, Hamilton Heights is getting a boost from Columbia University’s $6.3 billion expansion, which will take the school right up to the neighborhood’s southern border. Meanwhile, City College of New York, whose campus extends 11 blocks south from West 141st Street, will complete a twobuilding, $600 million science complex next year.With all that going for it, the area is getting some attention. “People are moving there in droves,” said Timour Shafran, managing partner at commercial brokerage Citicore, who helped his family manage properties in the area more than a decade ago. “Back then it was a dream come true to get a college kid, waiter or artist to live there.” For those looking for a place to buy, there are turn-of-the-previouscentury townhomes on quaint, treelined streets that rival those found in brownstone Brooklyn, but at a fraction of the cost—around $1 million. Even the turreted mansion once owned by James Bailey of Barnum & Bailey Circus fame fetched only a reported $1.4 million in 2009. But prices are creeping up. A threebedroom, four-and-a-half-bath Romanesque Revival house with eight fireplaces on Convent Avenue hit the market at a price of $3.5 million. Meanwhile, a proposed West Harlem rezoning that includes roughly 27 blocks in Hamilton Heights and neighboring Sugar Hill is going through public review. It would allow taller buildings on West 145th Street and on Broadway,bringing more foot traffic to the area. “Shops, restaurants and cafés are in demand,” said Lee-Ann Pinder, a broker at Citi Habitats. In May, Hamilton Heights native Maria DeJesus answered that call, opening Shoeganza on West 149th Street, in an area otherwise bereft of apparel shops. “I have seen more avant-garde businesses in the area,” said LaQuita KNOWLEDGE IS POWER. PASS IT ON. Still mailing your Con Edison bill? Online payment is simple and convenient. Con Edison e*bill is an easy, fast and secure way to pay. And for every customer who enrolls, Con Edison donates a dollar to plant trees in New York. Go to conEd.com/ebill Henry,a Community Board 9 member and community liaison person for Heritage Health and Housing, a local development organization that has been encouraging businesses to spruce up storefronts. Even though the area’s relatively high commercial rents make it difficult for smaller operators to succeed, some are finding a path around that obstacle. Mr. Ding of the Chipped Cup got his landlord to give him a break on the rent in the hope that his success will be a plus for the area. Others are simply throwing themselves into the competitive fray. Susan Yang, for example, added vegan items to her menu at Café One to cater to changing neighborhood tastes. “Any new shops that open in the area will create more traffic and bring more business to us,” said Ms. Yang, who took over the restaurant eight months ago. “There is a lot of opportunity here.” FROM AROUND THE CITY ROOSEVELT ISLAND FDR memorial 40 years late A memorial at the southern tip of Roosevelt Island,in honor of the man the island was named after in 1973, will finally open Oct. 24—some four decades after it was first proposed. Plans for the four-acre park dedicated to Franklin Roosevelt were revived in 2004. It will boast a halfton bronze bust of FDR, a graniteclad plaza, and a forest of five copper beaches and 120 little-leaf lindens. Officials of Cornell University, which will open its tech campus just to the north in 2017, give the memorial the thumbs-up.“It uses the site in the way we’re trying to,”said Andrew Winter, director of capital projects and planning at Cornell NYC Tech, “to connect Roosevelt Island [visually] to the rest of the city.” —cara eisenpress BROOKLYN Cutting the cord Finishing touches are being made in Brooklyn’s Carroll Gardens on what is being billed as the city’s first fully self-powered building. The fivestory, residential building, called the Delta, will generate its energy from an exoskeleton chockablock with sun receptors,as well as a rooftop solar panel that doubles as an awning. Meanwhile, a wind turbine is expected to generate 5% of the building’s 11,700 kilowatt hours of energy each year. To save as much of that energy as possible, the six small units will boast super-insulated windows and energy-efficient appliances. —ken m. christensen ©2012 Consolidated Edison Company of New York, Inc. Ad: Arnell Group LEARN MORE facebook.com/powerofgreen 12 | Crain’s New York Business | August 20, 2012 http://www.conEd.com/ebill http://www.conEd.com/ebill http://www.facebook.com/powerofgreen http://www.facebook.com/powerofgreen

Table of Contents for the Digital Edition of Crains New York - August 20, 2012

Crains New York - August 20, 2012
Contents
In the Boroughs
In the Markets
The Insider
Opinion
Alair Townsend
From Around the City
Report: Real Estate
Real Estate Deals
The List: Top Airlines
Classifieds
New York, New York
Source Lunch
Out and About
Snaps

Crains New York - August 20, 2012