October 4th - October 8th, 2010

Weekend Subway Delays for Construction

October 4 –  Two major subway lines, the 1 and the A/C, are being affected every weekend by construction. DNAinfo.com reports the 1 train will stop at Chambers Street and buses will shuttle passengers to South Ferry. The A/C trains will bypass Broadway-Nassau and Fulton Street stops and there will be no transfer between the 2/3 and 4/5 at those stations.

Plans Unveiled for Winter Garden Redesign

October 4 – Brookfield Properties unveiled its design of a $200 million overhaul of the retail portion of the World Financial Center, including the demolition of the sprawling marble staircase in the Winter Garden. The extended open plaza would lead to a redesigned entrance at West Street to connect with PATH and the subway. Brookfield told The Wall Street Journal the project would be completed in early 2013.

Financial Services Company Renews at 48 Wall Street

October 4 – Lord Securities renewed its lease for 6,900 square feet at the 34-story tower formerly known as the Bank of  New York Building. According to Crain’s, the lease runs for a decade and the rent was in the mid to upper $30’s per square foot.

Ribbon-cutting at New Claremont Prep School

October 5 – Following a $40 million renovation, the school at 25 Broadway opened yesterday with scores of local politicians and students on hand, according to The Battery Park City Broadsheet Daily. The new facility includes 30 classrooms, science and computer labs and a library. Construction continues on the gym and athletic facility.

US Supreme Court Rules Against Reburial

October 5- The Court rejected efforts by 9-11 families to bury some 223,000 tons of WTC debris as human remains in a cemetery. The families claims the material wasn’t properly screened by the City for human remains; the City says the debris will be dumped in the Staten Island landfill.

Mayor Urges 9-11 Responders to Accept Settlement

October 5 – With the November 8^th deadline approaching, the Mayor held a press conference to encourage the 10,000 rescue and recovery workers to approve the $712.5 million deal. Newsday reports about 95 percent of the plaintiffs needed for approval will give their okay. If the settlement passes, injured recovery workers could get awards ranging from a few thousand dollars to upwards of a million dollars or more.

Commercial Leasing Shows Activity

October 5 - Crain’s New York Business reports leasing is up 66% so far this year while rents have fallen 6%. The paper says cheaper rents are luring tenants to lock in space now. The vacancy rate in Lower Manhattan is now at 10.9%, almost unchanged from 11% this time last year.

Advocacy Group Signs at 125 Broad Street

October 5 – The AIDS Vaccine Initiative is taking approximately 37,000 square feet in the building, signing a 15 year lease. The deal, reported in The Commercial Observer, means the non-profit will be neighbors to the building’s other tenants- the American Civil Liberties Union and Sullivan & Cromwell law firm.

Performing Arts Center May Receive Funds

October 6 – Governor Paterson and Mayor Bloomberg announced the Lower Manhattan Development Corporation (LMDC) plan to allocate the money, which was originally set aside for utility companies. The financing, according to The New York Times, is on top of the $50 million in federal money destined for the project.

Seamen’s Church Institute Relocates

October 6 – Anchored in FiDi for the past 176 years, the Institute announced it’s selling its building at 241 Water Street, according to a report in The New York Times. The 33,168 sq. ft. building could be turned into commercial offices, residential space or a combination of both. It’s expected to sell for around $13 million.

Harbor School Moves to Governor’s Island

October 6 – More than 425 students, grades 9-12, are now attending high school by taking a ferry ride to Governor’s Island. An article in The Battery Park City Broadsheet says it took 8 years to move the school from Brooklyn to the Island. The school, which offers sailing and rowing teams, will be located in Building 550, a former hospital.

New Memorial Recognizes Post 9-11 Deaths

October 7 – The plaque will be installed for the 10^th anniversary of the attacks and according to The Wall Street Journal, it will honor those who died of illnesses related to 9-11. The first 24 names will be engraved next year and the plague will be placed next to the Memorial Wall of Honor at FDNY headquarters in Brooklyn.

Law Firm Renews One Battery Park Plaza Lease

October 7 – Seward & Kissel LLP signed a 20 year lease and added square footage to take 6 floors in the building, according to a report in Real Estate Weekly. The firm will now occupy 150,000 square feet between the 19^th and 24^th floors.