Bubble Wrap: April 2006

Some pricey zips downtown

The Real Deal covers a recent Forbes inventory of the most expensive zip codes in the US. In Downtown zip codes among nation’s priciest

Two Lower Manhattan zip codes are among the most expensive in the United States, according to a new survey. Zip codes 10013 and 10007 are the 12th and 19th most expensive zip codes in the nation, respectively, according to Forbes magazine.

Search for listings in 10013, 10007

More waterfront cleanup

Brownstoner covers the news of the city, state and federally funded cleanup of more Brooklyn waterfront in Big-Money Clean-Up for Bush Terminal Piers

The barren and neglected Bush Terminal Piers in Sunset Park are going to be getting a $36 million, government-funded tune-up. Located on the waterfront between 43rd and 51st streets, the site was a working port for much of the last century until becoming a dumping ground for oil, debris and wastewater in, you guessed it, the 1970s.

Tribeca, Soho still tops for rent

The Real Deal covers the Citi Habitats report of rental rates. In Soho, Tribeca have priciest rents… rates for those hoods were $3,650/mo, up $537 from the February report.

Also tipping toward the higher end of the rental scale were nearby neighborhoods like the West Village – average rent $2,898 in March – and the Gramercy/ Flatiron District area, with an average rent of $2,773, Citi Habitats reported. The cheapest rental neighborhoods in March were Harlem (average of $1,810) and Midtown East ($1,800).

The Citi Habitats report covered studios, one-bedrooms, two-bedrooms, and three-bedrooms.

Randall's Island Water Park approved

Crain’s NY Business reports that the NYC’s Franchise Review group has approved plans for the mega water park slated for Randall’s Island.

By a vote of five-to-one, the FCRC approved the final contract between the city and the Aquatic Development Group to build an 18.75-acre water park, complete with wave pools, water slides, raft rides and an indoor beach. It will also include a year-round 7.25-acre indoor park.

The project, slated to break ground next spring, will be privately financed by Cohoes, N.Y.-based ADG under a 35-year lease with the city.

NY Yankees one big step closer to new stadium

The City Council voted 44 to 3 to approve the construction of the new stadium for the Yankees.

The NY Times covered the vote in City Council Backs Yankees’ Plan for New Stadium

”...despite opposition from several council members as well as parks advocates and residents in the surrounding community, which is among the poorest in the nation. These critics say the stadium would take away valuable parkland in a neighborhood that already has too little, snarl traffic on game days and lead to more pollution.

Under the financing plan for the stadium, the Yankees will pay for the construction through $930 million in bonds issued by the city, of which about $860 million will be tax exempt. The team will pay back the city through payments in lieu of taxes, in addition to providing millions of dollars in benefits to the local community.