Lower Manhattan’s Local News
Join us for our kickoff Chocolate & Cocktails Sail
on Friday, July 26th, 2019 from 9:30pm-11:30pm.
Take in views of the amazing NYC skyline
on this indulgent sail.
Tickets are $79.00 per person and include
Chocolate & Pairings and then Beer & Wine as well.
A Super-Tall Laid Low
Stalled Tower at 125 Greenwich Street May Be Headed to Foreclosure
The troubled residential tower at 125 Greenwich Street (near the corner of Thames Street) may be facing foreclosure by lenders who say the development team has defaulted on the terms of several mortgages.
In May, work stopped on the building (which topped out at 912 feet, or 88 stories, last year) when multiple construction contractors filed liens against the developers for some $40 million in unpaid fees. This prompted several creditors — most prominently, the United Overseas Bank — to file notice with New York courts that they are owed $199 million in mortgage payments. The bank’s overall loan to the developers of 125 Greenwich is more than $450 million, and it is only one of half a dozen creditors.
Much of this discord appears to stem from a slowing market for condominium apartments in Lower Manhattan, where ample supply (generated by the conversion, in recent years, of dozens of former office buildings to residential use) has led to slack demand and falling prices.
The 125 Greenwich development team estimates the project’s total worth (with more than 250 apartments, and some 13,000 square feet of retail space at its base) to be somewhere between $850 million and $1 billion, but realizing such a valuation may prove to be an elusive goal. And with fixed costs and debt topping out at more than $800 million, the margin for error on such a project is slim.
These astronomical costs were a remote prospect in 2012, when another team of developers (a partnership consisting of the Witkoff Group and Fisher Brothers) purchased the property for $87.5 million. Although they originally planned to erect a residential tower of their own on the 9,000-square-foot site (initially planned to be as tall as 1,400 feet), they decided instead to accept an offer of $180 million from the current development team (a partnership originally led by builder Michael Shvo, who subsequently left the project) in 2014.
Before the previous owners bought the site, 125 Greenwich was home to a ten-story Romanesque revival building that housed Western Electric, the manufacturing arm of American Telephone & Telegraph, which used the building as a factory to build telephone equipment. This building was opened in 1889. Although local leaders tried in 2012 to persuade the City’s Landmarks Preservation Commission to grant the structure protected status, it was demolished the following year.
A foreclosure auction is currently scheduled for mid-August, but the developers are reported to be scrambling to put together a new package of debt and investment that would stave off such a development.
To Broadsheet Editor;
re: BroadsheetDAILY “The BPCA Gets a Credit Limit Increase” July 16, 2019
It is interesting to see that the Battery Park City Authority will be getting half a billion dollars to protect the community from climate change, which it will mostly spend on building flood barriers that will exacerbate climate change. Relatively little will be spent on actually stopping climate change.
If this were only happening in Battery Park City, it might not be a major issue. But this is not the case. The same is occurring in the Financial District, in the Lower East Side, elsewhere in the city, and nationwide. Almost all of the hundreds of billions of dollars of public funding that is being allocated to address climate change in the US is being used to buy a lot of concrete and steel, which will emit a lot of greenhouse gases, and provide short-term protection at best.
Arguably, this is what happens when one tries to address a global problem at the local level. Everybody has an incentive to protect their little patch, and not to worry about the larger whole. But if we were to instead spend the same many billions of dollars on actually stopping climate change, we could probably do it.
It is a bit like going to the moon. All it takes is some people in power with a vision and a will. The money is there, and if given the chance the American people can solve almost any technical problem.
EYES TO THE SKY
July 22 – August 4, 2019
The Eagle has landed
It was a three-day journey from Earth to the Moon for the three Apollo 11 astronauts aboard the spaceship, or command module, Columbia, headed for the first landing of humans on the moon. Columbia – named for the historical epithet for the Americas – lifted off from the Kennedy Space Center in Florida on the morning of July 16, 1969. Soon after launch, Columbia docked with the lunar module, the Eagle, a vehicle designed to land two of the astronauts on the Moon while the third stayed with Columbia until the moonwalk was completed.
On July 19 fifty years ago, the 240,250 mile voyage almost accomplished, Columbia orbited the Moon 30 times, piloted by astronaut Michael Collins. Next day, July 20, astronauts Neil Armstrong and Edwin (Buzz) Aldrin left the command module and climbed into the lunar module, which they navigated and touched down on the lava plain Mare Tranquillitatis, near the lunar equator, at 4:18pm. EDT. Broadcasting to Earth, Armstrong’s first words were, “Houston, Tranquility Base here, the Eagle has landed.”
Too excited to take their scheduled rest, they prepared to carry out the culmination of their monumental and heroic mission. Six and a half hours after landing, Armstrong stepped onto the Moon saying, “That’s one small step for a man, one giant leap for mankind.” He had unveiled a plaque affixed to the Eagle that bore the inscription, “Here men from the planet Earth first set foot upon the Moon, July 1969 A.D. We came in peace for all mankind.” Aldrin and Armstrong collected samples of rock and regolith weighing nearly 49 pounds. They left a United States flag on the Moon, a gesture that has been described as leaving a record, not asserting possession.
The moonwalk lasted two and one half hours after which the two slept in their lunar craft for 7 hours before preparing to rejoin Collins on Columbia. They had been on the Moon for 21 hours 36 minutes. By July 22, fifty years ago today, Collins, Aldrin and Armstrong were on their way home. On July 24, 1969, Columbia splashed down in the Pacific Ocean.
Look for moonrise in the east between midnight and 1am early this week.
Find the daytime gibbous moon rather high in the blue sky to the south during the early morning hours and westerly until about noon.
Waves of Change
Honoring a Matriarch of the Hudson
Tonight, Monday (July 22), the River Project will host its 2019 Summer Cruise, raising funds for the highly regarded, Lower Manhattan-based non-profit that aims to protect and restore the ecosystem of the Hudson River Estuary through scientific research and education programs.
The evening will honor retiring executive director Cathy Drew, who founded the River Project in 1986.
Her vision and leadership, among other accomplishments, helped pass legislation that made the Hudson River Park an estuarine sanctuary in 1998. This legal designation was based, in part, on fish ecology data that Ms. Drew helped compile through her research in the Hudson.
Monday evening’s program begins with boarding and cocktails at 5:30 pm, followed by a dinner cruise from 7:00 to 9:00 pm. For more info, please browse: www.riverprojectnyc.org/events.
A short film about the National Lighthouse Museum
For more info, www.LighthouseMuseum.org
Upward with the Arts
New Artist Work Space in World Trade Center Part of Creative Surge in Lower Manhattan
Silver Art Projects, a public service project supported by Silverstein Properties(operator of the World Trade Center complex) is kicking off a new artist residency program at Three World Trade Center.
Under this initiative, dozens of artists (working across a broad range of media and disciplines) will be invited to share more than 40,000 square feet of free studio space on the tower’s 50th floor, which will be given over in its entirety to this program.
Leader of the PAC
Former Governors Island Overseer Takes Helm at World Trade Center Performance Venue
The Ronald O. Perelman Performing Arts Center, now under construction at the World Trade Center, has a new president — Leslie Koch. Ms. Koch will be most familiar to Lower Manhattan residents as the guiding hand behind the Trust for Governors Island.
Her decade-long tenure there, which saw seasonal visitation rise from 8,000 per season to more than 600,000, ended in 2016. To read more…
The BPCA Gets a Credit Limit Increase
Albany Legislature Okays Half a Billion in New Bond Debt for BPCA
The State legislature has enacted a measure that will allow the Battery Park City Authority to take on up to half a billion dollars in new bond debt, in order to fund resiliency measures throughout the community, as well as to underwrite other capital projects.
The bill, sponsored in the Assembly by Yuh-Line Niou (who represents Battery Park City south of Vesey Street) and in the Senate by Brian Kavanagh (who represents all of Battery Park City), grants permission to the Authority…
Come Hell and High Water
Federal Report Foresees More Frequent Flooding for Lower Manhattan
A new report from the National Oceanic and Atmospheric Administration, the federal scientific agency responsible for study of oceans, major waterways, and the atmosphere, predicts that Lower Manhattan will, in the next 12 months, experience between double and triple the number of flooding days that it did in 2000.
Particularly dire predictions are reserved for the corner of the country in which New York is located: “The Northeast Atlantic coast is projected to experience the most [high-tide flooding, or HTF] in 2019 with the regional-median expected value of 8 HTF days. Individual locations are projected to experience more (likely range): 12-19 days in Boston, Massachusetts, 8-13 days in New York City region, and 10-15 days in Norfolk, Virginia.”
Upward with the Arts
Silver Art Projects, a public service project supported by Silverstein Properties is kicking off a new artist residency program at 3 WTC.
Under this initiative, dozens of artists will be invited to share more than 40,000 square feet of free studio space on the tower’s 50th floor.
Occupancy will begin in September, but artists who wish to participate must apply by July 31, www.silverart.com/home
Cruise Ships in the Harbor
Arrivals and Departures
Monday, July 22
Inbound 6:15 am; outbound 4:30 pm;
San Juan, PR/St Thomas, USVI/Grand Turk, Turks & Caicos
Outbound 5:30 pm; World Cruise (Charleston, SC/Curacao/Panama Canal)
Wednesday, July 24
Inbound 6:00 am (Brooklyn); 5:00 pm;
Transatlantic (Canada/Iceland/Scotland/Ireland/Southampton, UK)
Friday, July 26
Adventure of the Seas
Inbound 6:30 am (Bayonne) ; outbound 3:00 pm; Bermuda/Bahamas
Saturday, July 27
Anthem of the Seas
Inbound 6:30 am (Bayonne); outbound 4:00 pm;
Inbound 7:15 am; outbound 3:30 pm; Port Canaveral, FL/Bahamas
Sunday, July 28
Inbound 7:30 am Bayonne; 4:00 pm;
Inbound 6:15 am; outbound 4:30 pm;
Queen Mary 2
Inbound 6:00 am (Brooklyn); outbound 5:00 pm;
Transatlantic (Southampton, UK)
Many ships pass Lower Manhattan on their way to and from the Midtown Passenger Ship Terminal. Others may be seen on their way to or from piers in Brooklyn and Bayonne. Stated times, when appropriate, are for passing the Colgate clock in Jersey City, New Jersey, and are based on sighting histories, published schedules and intuition. They are also subject to tides, fog, winds, freak waves, hurricanes and the whims of upper management.
Monday July 22
Senior Group Exercise
Battery Park City Authority
Join a community of adults and seniors for a total-body workout appropriate for any fitness level. The instructor-led classes are designed to increase flexibility, joint stability, balance, coordination, agility, muscular strength and cardiovascular endurance. 6 River Terrace.http://bpcparks.org/events/2019-07/
The Tale of the Ticker Tape,
or How Adversity and Spontaneity
Hatched a New York Tradition
What was Planned as a Grand Affair became a Comedy of Errors
While the festivities in New York Harbor didn’t go as scripted that afternoon, the spontaneous gesture it generated from the brokerage houses lining Broadway famously lives on more than a century later.
On October 28, 1886, Liberty Enlightening the World was to be unveiled to New York City and the world as it stood atop its tall base on Bedloe’s Island. But the morning mist had turned to afternoon fog, blurring the view of the statue from revelers on the Manhattan shore and the long parade of three hundred ships on the Hudson River.
A Mecca for Millennials
Demographic Analysis Finds FiDi to Be Teeming
Lower Manhattan is emerging as a mecca for millennials (defined here as people born between 1977 and 1996), according to a new report prepared by PropertyShark, an online real estate database website that provides in-depth data for millions of properties in major urban markets throughout the United States.
The study finds that 67 percent of the residential population within the 10005 zip code in the Financial District — a catchment bounded roughly by Broadway, Beaver Street, South Street, and Liberty Street — is compromised of people born between the year “Three’s Company” debuted, and when “The Fresh Prince of Bel Air” aired its last episode.
Today in History
1456 – Ottoman wars in Europe: Siege of Belgrade: John Hunyadi, Regent of the Kingdom of Hungary, defeats Mehmet II of the Ottoman Empire
1587 – Roanoke Colony: A second group of English settlers arrives on Roanoke Island off North Carolina to re-establish the deserted colony.
1598 – Shakespeare’s play, The Merchant of Venice, is entered on the Stationers’ Register. By decree of Queen Elizabeth, the Stationers’ Register licensed printed works, giving the Crown tight control over all published material.
1686 – Albany, New York is formally chartered as a municipality by Governor Thomas Dongan.
1793 – Alexander Mackenzie reaches the Pacific Ocean becoming the first recorded human to complete a transcontinental crossing of North America.
1802 – Emperor Gia Long conquers Hanoi and unified Viet Nam, which had experienced centuries of feudal warfare.
1893 – Katharine Lee Bates writes “America the Beautiful” after admiring the view from the top of Pikes Peak near Colorado Springs, Colorado.
1894 – The first ever motor race is held in France between the cities of Paris and Rouen. The fastest finisher was the Comte Jules-Albert de Dion, but the ‘official’ victory was awarded to Albert Lemaоtre driving his 3 hp petrol engined Peugeot.
1916 – Preparedness Day Bombing: In San Francisco, a bomb explodes on Market Street during a parade, killing ten and injuring 40.
1933 – Aviator Wiley Post returns to Floyd Bennett Field in New York City, completing the first solo flight around the world in seven days, 18 hours and 49 minutes.
1942 – The United States government begins compulsory civilian gasoline rationing due to the wartime demands.
1942 – The Holocaust in Poland: The systematic deportation of Jews from the Warsaw ghetto begins.
1946 – King David Hotel bombing: A Zionist underground organization, the Irgun, bombs the King David Hotel in Jerusalem, site of the civil administration and military headquarters for Mandatory Palestine, resulting in 91 deaths.
1962 – Mariner program: Mariner 1 spacecraft flies erratically several minutes after launch and has to be destroyed.
1990 – Greg LeMond, an American road racing cyclist, wins his third Tour de France after leading the majority of the race. It was LeMond’s second consecutive Tour de France victory.
1992 – Near Medellin, Colombian drug lord Pablo Escobar escapes from his luxury prison fearing extradition to the United States.
2003 – Members of 101st Airborne of the United States, aided by Special Forces, attack a compound in Iraq, killing Saddam Hussein’s sons Uday and Qusay, along with Mustapha Hussein, Qusay’s 14-year-old son, and a bodyguard.
1210 – Joan of England, Queen of Scotland (d. 1238)
1755 – Gaspard de Prony, French mathematician and engineer (d. 1839)
1784 – Friedrich Bessel, German mathematician and astronomer (d. 1846)
1882 – Edward Hopper, American painter and etcher (d. 1967)
1932 – Oscar de la Renta, Dominican-American fashion designer (d. 2014)
1940 – Alex Trebek, Canadian-American game show host and producer
1955 – Willem Dafoe, American actor
1461 – Charles VII of France (b. 1403)
1832 – Napoleon II, French emperor (b. 1811)
1869 – John A. Roebling, German-American engineer, designed the Brooklyn Bridge (b. 1806)
1967 – Carl Sandburg, American poet and historian (b. 1878)
Sourced from various internet sites.
South BPC Resiliency Project
The full presentation and video from the South BPC Resiliency Project Public Meeting #3 held last week at 6 River Terrace is now available on the Battery Park City Authority’s Resiliency page under the heading “South Battery Park City Resiliency Project.”
Additional feedback on the concepts presented may be submitted until Monday, July 15 to the dedicated email address email@example.com.
Albany Wants to Keelhaul Ad Barges
State Lawmakers Bark ‘Belay That’ to Water-Borne Marketing Messages
The ubiquitous advertising barges that have become anathema for Lower Manhattan residents over the past year have attracted hostile attention from members of the State Senate and Assembly.
Bills were enacted in the closing days of the legislative session that would ban the 60-foot catamaran — bearing an electronic sign capable of rendering high-definition, full-motion video, similar to the “jumbo-tron” panels that adorn multiple buildings in Times Square — from continuing to conduct its business in New York’s waters.
Very Merry Skerry Ferry
Governors Island Passengers Are Going in Style with Launch of New Vessel
Visitors to Governors Islandembarking from Lower Manhattan now have a new way to get to the beloved greensward that has become Downtown’s equivalent of Central Park.
The new vessel, Governors 1, a 132-foot-long, 40-foot-wide ferry was built over the last two years at a cost of $9.2 million in the Warren, Rhode Island shipyard of Blount Boats, from a design by Seattle-based Elliott Bay Design Group.
Not Ferry Nice
Concerns about Crowding and Noise Surround City Hall Plan for New Staten Island Route to Battery Park City
The administration of Mayor Bill de Blasio is planning to launch in 2020 a new ferry service from Staten Island that will bring to the Battery Park City ferry terminal more than 60 new vessels each day, carrying as many as 2,500 passengers.
CLASSIFIEDS & PERSONALS
Swaps & Trades Respectable Employment
Lost and Found 212-912-1106
$99 Hypnosis Session
($247 value) Smoking Cessation, Weight Loss, Motivation, Sports Performance, Confidence, Stress, Insomnia…
Call Janine Today. Limited time offer! 917-830-6127
Experienced Elder Care (12 years)
Able to prepare nutritious meals and light housekeeping
Excellent references 347 898 5804 Hope
NOTARY PUBLIC IN BPC
$2 per notarized signature
Text Paula at 917-836-8802
Dishes, windows, floors, laundry, bathrooms.
You name it – I will clean it.
Call Elle at 929-600-4520
IT AND SECURITY SUPPORT
Experienced IT technician. Expertise in 1-on-1 tutoring for all ages.Computer upgrading & troubleshooting.
Knowledgeable in all software programs. James Kierstead firstname.lastname@example.org 347-933-1362. Refs available
Experienced with BPC residents. Available nights, days, and weekends. Will cook, clean and administer medicine on time. Speaks French and English. Can start immediately. Please call or text 929-600-4520.
OLD WATCHES SOUGHT
Mechanical pocket and wristwatches sought and
If you would like to place a listing, please contact email@example.com
CB1 Wants to Contravene Convene
Local Leaders Raise Concerns about Traffic and Crowding from Planned Events Venue at Brookfield
The owners of Brookfield Place, are planning to launch an events venue that will host up to 1,000 people at a time, which has sparked concerns about traffic and crowding from community leaders.
At the June 5 meeting of the Battery Park City Committee of Community Board 1 (CB1), Mark Kostic, Brookfield’s Vice President for Asset Management, explained that Convene, a firm that develops and markets meeting rooms, event venues and flexible workspaces (and is partially owned by Brookfield) will be taking over the 86,000-square-foot space formerly occupied by Saks Fifth Avenue, at 225 Liberty Street.
Anthem of the Seas Spins About
Cass Gilbert and the Evolution of the New York Skyscraper
by John Simko
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