The Perfect Lillet Spritz

The Perfect Lillet Spritz

Whether you’re enjoying an afternoon outdoors, or just taking some time to relax before dinner, the refreshing Lillet Spritz effortlessly transforms the moment. It’s the spring-ins…

Bachelet: Dictadura de Nicolás Maduro asesinó a más de 2.000 personas los primeros 8 meses del 2020

Bachelet: Dictadura de Nicolás Maduro asesinó a más de 2.000 personas los primeros 8 meses del 2020

Este viernes, la Alta Comisionada de la ONU para los Derechos Humanos, Michelle Bachelet, presentó la actualización de su informe sobre los derechos humanos en Venezuela. En el mismo denunció que la dictadura de Nicolás Maduro asesinó a más de 2.000 personas los primeros 8 meses del 2020. Redacción MiamiDiario Después del demoledor y terrible […]

La entrada Bachelet: Dictadura de Nicolás Maduro asesinó a más de 2.000 personas los primeros 8 meses del 2020 se publicó primero en Miami Diario.

Dezer’s 30-acre megaproject in North Miami Beach gets first approval

Dezer’s 30-acre megaproject in North Miami Beach gets first approval

Renderings of the project and Gil Dezer (Getty; Renderings via  Zyscovich Architects)

Renderings of the project and Gil Dezer (Getty; Renderings via Zyscovich Architects)

A nearly 30-acre mixed-use development that would bring luxury condo towers, a harbor and public promenade secured a key approval from the city of North Miami Beach.

Developer Gil Dezer’s plan to transform the Intracoastal Mall will return to the North Miami City Commission next month, after commissioners voted to pass zoning amendments and a 30-year development agreement between the city and developer on first reading after a meeting that stretched past 3 a.m. Friday morning.

The developer is proposing 2,000 residential units, 575,000 square feet of retail and office space, 250 hotel rooms, a harbor and central park and more. The megadevelopment would replace the 234,000-square-foot Intracoastal Mall and a three-story office building.

Dezer, whose recent projects include the Residences at Armani/Casa and the Porsche Design Tower, — two luxury condo towers visible from North Miami Beach — tapped Bernard Zyscovich of Zyscovich Architects to design the development.

(Rendering via Zyscovich Architects)

(Rendering via Zyscovich Architects)

In July, Dezer Development received a favorable vote from the North Miami Beach planning board for its plans for the 29-acre property.

The four-phased project would include 200,000 square feet of office space and 375,000 square feet of retail space with a grocery store and entertainment retail, for-sale townhouses, condos and rental apartments, and a waterfront promenade.

As part of the approval, Dezer would also build police and fire substations, a community center, and infrastructure around the project.

Tracy Slavens, an attorney at Holland & Knight who’s representing Dezer, introduced the project and said the developer shifted the building height and reduced the “intensity” by more than 70 percent. Dezer plans to relocate some retail tenants of the existing mall into the new project.

Mayor Anthony F. DeFillipo urged the commission to move the plan forward.

“Use the Aventura Mall as an example,” DeFillipo said. “At the end of the day they have a community that’s thriving. Where do we want to be?

Dozens of nearby residents spoke against the plans and urged commissioners to reject the proposed changes. Many talked about the impact it could have on traffic, especially for those living in the Eastern Shores neighborhood.

“You have the right, the obligation to stop this thing and you have to do that,” said Bruce Kusens, a resident who opposes the zoning changes. “This was supposed to make things better, not make things worse.”

An ordinance amending the zoning and land development code related to the Intracoastal Mall property passed 4 to 3, with commissioners Phyllis Smith, Fortuna Smukler and Barbara Kramer voting against it.

The ordinance gives direction to city staff to make changes related to the hotel component. The second ordinance, approving the master development agreement and conceptual master plan request by the developer, also passed 4 to 3 with the same commissioners voting for and against it. The latter ordinance passed with amendments.

Attorney Arthur Gallagher, who was also representing the developer, said construction of the first phase could take three years from the time the developer receives building permits.

If the commission votes to approve the ordinances on second reading, Dezer would have to get site plan approval, in addition to approvals from other government agencies, including Miami-Dade County’s Department of Environmental Resources Management.

[contact-form-7]

The post Dezer’s 30-acre megaproject in North Miami Beach gets first approval appeared first on The Real Deal Miami.

The Closing: Carl Weisbrod

Carl Weisbrod (Photo by Studio Scrivo)

Carl Weisbrod has been a fixture in city government for more than four decades. He joined the administration of New York City Mayor John Lindsay as an attorney with the Department of Relocation in 1970 and was later tapped to spearhead the transformation of Times Square while also serving as executive director of the Department of City Planning. Weisbrod went on to found and lead the city’s Economic Development Corporation in the 1990s, where he secured the U.S. Tennis Association’s 99-year lease in Flushing Meadows–Corona Park. He led redevelopment efforts of Downtown Manhattan, before and after Sept. 11,  as the head of the Lower Manhattan Development Corp. and created the Alliance for Downtown New York — the city’s largest business improvement district. Weisbrod was summoned to City Planning again in 2014 when Mayor Bill de Blasio appointed him to chair the commission and run the department. After playing a key role in shaping the mayor’s affordable housing program, including the Mandatory Inclusionary Housing initiative, Weisbrod stepped down in 2017. He has since served a brief stint on the Metropolitan Transportation Authority board and now works as a senior adviser with the real estate consulting firm HR&A Advisors. Weisbrod is also on the board charged with redeveloping Governors Island.

Born: October 5, 1944
Lives in: Roosevelt Island, Manhattan
Hometown: Fresh Meadows, Queens
Family: Married

Before you entered city government, you worked as an anti-poverty attorney. What was that like? I graduated from law school in the tumultuous — and the only year that I find roughly remotely comparable to 2020 — 1968. It was a year of extraordinary change, obviously, and I really wanted to be a part of it. And so I went to work first in Harlem on 116th Street and Eighth Avenue and then in Mobilization for Youth’s Legal Services.

I was mostly suing New York City government all the time and representing squatters who were taking over abandoned buildings in Manhattan Valley and mothers who were living in squalid conditions in West Side hotels. And that had an enormous impact.

Was it strange to go from suing the city to working for the city? Well, one of the people I was suing constantly was Amalia Betanzos, who was John Lindsay’s commissioner of relocation. She was a very smart, very strong woman, really one of the true pioneers of the city and one of the real leaders of the Puerto Rican community in New York then. I was constantly suing her. She finally said to me, “Look, if you think you can do any better, come in and try to do it.” And so I did, and I found myself working on emergency housing issues.

What role should zoning and city planning play in combating racism? Zoning is one tool in a whole toolbox of planning. But both zoning and planning absolutely should be a big part of this discussion about not only race but poverty and how we address the extraordinary inequality that we have in New York and around the country.

What we’ve seen underscored by this pandemic is that it has affected people of color, low-income people, undocumented people, frontline workers — and the neighborhoods in which those various demographic groups are concentrated — in a highly disproportionate fashion. We have to do a lot more.

What is the focus of HR&A’s work? We do work really all over the country. We have a very good understanding of both the private sector and how that works and how government can both regulate and oversee the private sector appropriately in the public’s interest.

How has your work been affected by the pandemic? Has it shifted some of your priorities? It certainly has shifted our priorities to some extent because we are working now with very needy clients, whether they’re governmental, whether they’re private, whether they’re institutional, whether they’re advocacy organizations. It’s a very challenging time.

I’ve been through every single New York City crisis since the mid 1970s, including the city fiscal crisis. By far, this is the most challenging one of them all. Because it’s an economic crisis, it’s a health crisis, and it’s now a criminal justice crisis.

You played a key role in the transformation of Times Square and Lower Manhattan, both of which have become business centers in their own right as well as tourist attractions. Will those neighborhoods recover from the pandemic? We don’t go back to what we were before, however much some of us may have liked that, but we go on to better things. In the early 1990s, Lower Manhattan was in distress. It was a one-dimensional neighborhood. It had a commercial vacancy rate of about 25 percent. It didn’t have much in the way of housing. That started changing before 9/11. We introduced housing to Lower Manhattan. We started the idea of creating a mixed-use neighborhood. So will Lower Manhattan and Times Square be more vibrant than ever? When this pandemic is behind us, the answer to that is yes.

What were the biggest lessons you learned from the transformation of Times Square? There were those who said, “Oh, it’s going to be sanitized. It’s only going to be for the rich. It’s only going to displace poor people.” You know, that’s not what happens. It became such a populous center that people were saying, “It’s too crowded. … It’s too appealing to people from all over.” I never thought it would become a bastion for elitism. But I think one thing that will happen as we come out of this pandemic, I think this will be the place that will be reclaimed by New Yorkers.

Have you been disappointed with the progress of the mayor’s Mandatory Inclusionary Housing program? Yeah, I mean, I wish we’d seen more. It was clear that most community boards, even though they all support affordable housing in theory, voted against it. Some voted against it because they thought it didn’t go far enough. Some voted against it because they thought it went too far.

But as I‘ve said several times, there are neighborhoods that don’t want poor people moving in. There are other neighborhoods that don’t want rich people moving in. And there are many neighborhoods that don’t want anybody moving in. Hopefully, communities will see the light and how critical housing is to the future of the city — particularly affordable housing.

You live on Roosevelt Island. Do you still own an apartment in Miami? Yes, I have an apartment in South Beach.

How often do you go there? You know, not as often as I would like. We made a decision at the outset of this pandemic that we wanted to stay in New York, and we’ve been in New York throughout then — pretty much on Roosevelt Island for months. I left my last stint in city government with the expectation that we would go to South Beach a lot during the wintertime, at least. But that never materialized. I’ve just been too busy.

You grew up in Queens and the Bronx, right? Well, I grew up in Queens. I was born in the Bronx. I guess I was technically born in a Manhattan hospital, but my parents took me home to the Bronx Parkchester, where we lived. Then when I was about five, we moved to Queens, to Fresh Meadows. And that’s where I grew up, really.

What did your parents do? My father was a paper salesman with a company on the Lower East Side on Ludlow Street. And my mother was a bank teller at the Chase Manhattan Bank.

Do you feel like you were influenced by your neighborhood? I went to college at 16 in 1961, at the beginning of the social and political revolutions in the country. I arrived at both an impressionable age and at the beginning of what was a dramatic transformation in America. And that really became the foundation for almost everything I value today.

My political awakening certainly was John F. Kennedy getting elected president, and still to this day, I have this extraordinary, vivid memory of Kennedy going through a motorcade in Queens in the fall of 1960. He was driving by, and I saw him in person behind the window in his car, shocked because I had never seen him in color, shocked that he was so tanned. I was still a senior in high school, and two or three blocks from Jamaica High School a few weeks later, Richard Nixon gave a small rally on a rainy day that was pretty tepid, pretty pathetic. And then I knew that Kennedy was going to be elected.

Why did you go to school at such a young age? I skipped a grade or two. I thought at the time that it was great to get somewhere fast. I’m not sure it was such a good idea in hindsight. I think I was too young to start at college. But so be it. I survived.

Did you feel out of place socially? Yeah, I went to Cornell. I was 16 years old. The freshmen women were hardly interested in me. So, it wasn’t until I became a sophomore that there was any hope of getting at least a date.

Did you start out majoring in labor relations or did you find that once you got to Cornell? I started out doing it. I had to work my way through school for the most part. It was at a time when labor relations was, frankly, a much more dynamic field than it is today, and much of the labor force in this country was organized. And to this day, I have a very high regard for the labor movement. I think one of the reasons that the middle class has since fallen behind is because the private sector labor movement has really been diminished.

What jobs did you take to work your way through school? I mostly worked as a waiter in a sorority house. That was another way to actually end up having dates.

How did you and your wife meet? We were fixed up through a mutual friend.

Where was the first date, if you don’t mind me asking? We met for lunch at a restaurant that is no longer in existence in Union Square. That was in 1977. I remember the date precisely, mainly because it was the anniversary of Kennedy’s assassination. And we started living together shortly thereafter, and then got married in January 1979.

What’s your favorite thing to do outside of work? I like to play golf, but I also like to go on an annual Outward Bound trip that was originally organized by Arthur Levitt and John Whitehead. I’ve been doing that for 25 years, and I have to say that I’ve seen parts of the country and the world in a way that I feel so fortunate to have seen.

What was the most memorable moment? I think the most memorable thing was my first trip, which was in the mid 1990s, when John Whitehead was then in his mid 60s, and we climbed Mount Powell in Colorado. It was a gruesome and very difficult climb. To see John Whitehead, who had, in addition to being the former chair of Goldman Sachs, had landed in the first wave at both D-Day and Iwo Jima, climb that mountain was really inspirational because it was hard for me, and I was 30 years younger.

What do you want your legacy to be? What happens over the years is that you end up mentoring so many smart younger people — sometimes people my own age — but mostly people who become the leaders of the future and are sprinkled now throughout New York City government. That’s really my legacy. I know that they’re going to be the next generation, and I feel pretty confident that the city will be in good hands.

This interview has been edited and condensed for clarity.

FLBS and a New Yacht Club Residences Bring the Marine Elite to South Florida

FLBS and a New Yacht Club Residences Bring the Marine Elite to South Florida

The Princess 78 yacht is making its debut at the Fort Lauderdale International Boat Show.
Superyachts are five-star hotels that you can sail to places where there aren’t five-star hotels…

Mujer despidió a su marido fallecido bailando twerking encima de su ataúd (Video)

Mujer despidió a su marido fallecido bailando twerking encima de su ataúd (Video)

Hace unos días se viralizó en las redes sociales un candente video grabado durante el funeral de un hombre, bailando twerking. Por redacción MiamiDiario Y es que en el audiovisual se ve a la presunta esposa del difunto montada sobre el ataúd bailando al ritmo del reguetón con movimientos propios del ‘perreo’, mientras los demás […]

La entrada Mujer despidió a su marido fallecido bailando twerking encima de su ataúd (Video) se publicó primero en Miami Diario.

Restaurants’ survival chances, the city exodus, and distress vultures: NYC’s reopening

Restaurants’ survival chances, the city exodus, and distress vultures: NYC’s reopening

Months after shut downs slammed the industry, real estate pros are still struggling to get back on their feet. Now New York is facing a breaking point.

Join TRD‘s Erik Engquist and Hiten Samtani on Thursday, September 24th 2020 at 1 pm EST on this subscribers-only call followed by your Q&A to learn:
 
  • Can restaurants survive at 25% occupancy?
  • Will homeowners and renters stay outside city limits for the long term?
  • When will we see distress investors begin to swoop in?
  • What will the city and its real estate look like in a post-pandemic world?

REGISTER

The post Restaurants’ survival chances, the city exodus, and distress vultures: NYC’s reopening appeared first on The Real Deal Miami.

Rent prices fall in college ZIP codes as remote learning rises

Rents in ZIP codes where college students make up at least 20 percent of the population dipped half a percent in August (iStock)

Rents in ZIP codes where college students make up at least 20 percent of the population dipped half a percent in August (iStock)

Numerous colleges nationwide began the fall semester by shifting to online classes only, which could precipitate a wave of distress for an asset class once considered to be recession proof: student housing.

Rents in ZIP codes where college students make up at least 20 percent of the population dipped half a percent in August, compared to the same time last year, a Zillow study found. While that may seem unremarkable considering the U.S. just endured its worst GDP contraction on record, rent prices in noncollege ZIP codes rose 2.6 percent in August, year-over-year.

(Click to enlarge)

(Click to enlarge)

In May, average rent amounts in college ZIP codes was $19 lower a month than in noncollege ZIP codes, according to Zillow. By August, the gap had widened to $63 per month. The Zillow report notes that it’s possible the gap will widen even further as leases signed in 2019 expire over the next four months and are not renewed.

In February, before the coronavirus outbreak took hold, average rents in college ZIP codes were 4.6 percent higher than in February 2019, the report found.

The underperformance of student housing is likely to have ripple effects across the commercial real estate world, industry pros have said.

Student housing landlords often turn to commercial mortgage-backed securities loans to finance their acquisitions, construction and property operations. CMBS loans often offer lower rates and allow higher loan-to-value ratios than traditional commercial mortgages. They’re also typically riskier for borrowers because they include agreements with bondholders that make restructuring the loans more difficult.

Delinquency rates for loans backing student housing have exceeded multifamily delinquency rates for the last five four years. Still, the difference in loan performance between the two asset classes has never been more pronounced than now, according to a recent Trepp report.

The share of student housing-backed mortgages whose borrowers were at least 30 days past due on payments reached an all-time high of 13.7 percent in July. The delinquency rate for multifamily-backed debt was only 2.2 percent in the same month.

The drop in revenue flowing from student housing may lead public universities and private colleges without major endowments to sell off assets, sources told The Real Deal last week.

5 Luxury Fashion Brands Engaging In Sustainability

5 Luxury Fashion Brands Engaging In Sustainability

Luxury brands take a more thoughtful approach to business—from sustainable practices to upcycling programs to conscious consumption and beyond.
For fall/winter 2020, Stella McCartney di…

Asteroide de 30 pies de ancho se acerca ‘peligrosamente’ a la Tierra (Video)

Asteroide de 30 pies de ancho se acerca ‘peligrosamente’ a la Tierra (Video)

Un pequeño asteroide cercano a la Tierra (o NEA por sus siglas en inglés) visitará brevemente el vecindario de nuestro planeta este jueves 24 de septiembre. Por redacción MiamiDiario De acuerdo a la NASA, el objeto rocoso pasará a una distancia de aproximadamente 13,000 millas sobre la superficie terrestre, reportó Telemundo51. El asteroide se acercará […]

La entrada Asteroide de 30 pies de ancho se acerca ‘peligrosamente’ a la Tierra (Video) se publicó primero en Miami Diario.