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CBRE, Newmark Win REBNY Deals of the Year
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Gordon Gekko, el villano de Wall Street, existe: ¿quién es?
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Here’s an update on last night’s manhole explosions on East Broadway (near Samuel Dickstein Plaza). We just got off the phone with Con Edison spokeswoman D. Joy Faber, who said workers are making repairs on corroded electrical cables today and continuing to investigate exactly what caused the blasts. She said it was not a transformer explosion (that’s what firefighters suspected last night).
Instead, Faber said, it appears to be a more straightforward case of electrical cables having been corrupted by salt used during the snow storm (the investigation will hopefully confirm this hypothesis). The phenomenon is fairly common in the city each winter. The salt eats away at and then burns the cables’ insulation, releasing flammable gases. Sometimes, but not always, explosions are the result.
From left: Jerry Speyer, Rob Speyer, Bill Rudin, Peter Malkin and Anthony Malkin
Seymour Durst and his brothers built six Manhattan buildings in a 12-year run. Paul and Seymour Milstein built 10 in about the same amount of time. And Lew and Jack Rudin built 11 in two decades.
The breakneck pace of development which was largely clustered in the 1960s and the 1980s by those three families, and a slew of others, laid the foundation for many of New York City’s most established real estate dynasties. (Think Tishman, Fisher, Malkin, Resnick, LeFrak, Rose, and Zeckendorf.)
Indeed, after passing down their real estate portfolios from one generation to the next, many of those families are sitting on bricks-and-mortar fortunes today.
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