Pretty Expensive
Frank Gehry’s current design for the Beekman St. tower and K-8 school is spectacular but may never see the light of day because of developer Bruce Ratner’s financing problems, a source tells UnderCover.
Ratner has never released any pictures of the building model because he may want the celebrity architect to shave some costs and fancy features off the tower, our source says, adding that the developer does not yet have the loan to build. The tipster doesn’t think the project is in danger of falling apart, but the school opening may get delayed.
“It’s drop-dead gorgeous,” says our source, who has seen the model and is sympathetic to community concerns about the building’s height. The wavy tower “looks like the ocean’s above you.”
Museum movement
An insider tells UnderCover that after years of treading water, the National Sports Museum is now furiously paddling toward completion.
The museum has moved past its financial and organizational delays, the insider said, and is now on track to open in April 2008. The insider believes that the museum’s organizers will succeed “in spite of themselves” because of the museum’s family-friendly collections and “great location” — at 26 Broadway, overlooking the “Canyon of Heroes” parade route.
What strike?
Most New Yorkers were consumed with subway strike news two years ago, but some pols were not paying close attention. Councilmember Rosie Mendez, who took office a week after the strike, said this week that she was planning to drive the first morning and didn’t discover a strike was on until she tried to hail a cab after experiencing car troubles. She made the startling revelation at a Council hearing on improving emergency notification plans. As we recall, news of the strike made at least one or two newscasts that morning.
Real Estate ratings
In its annual real estate edition, New York Magazine ranked the city’s neighborhoods by their vulnerability to economic downturns, specifically the recent sub-prime mortgage crisis. Neighborhoods were ranked from 1.0 to 10, with 1.0 being recession-proof and 10 being the top of the bursting bubble.
Downtown faired pretty well in New York’s assessment, with the West Village and Tribeca leading the pack at a 2.0. The two historic nabes tied for second-most-solid — just a half point behind the “Gold Coast” addresses on Fifth Ave., Park Ave. and Central Park West. Local preservation efforts and good public schools were cited as reasons why demand here will stay high, even in a crisis.
Soho, Noho and the central Village came in at a 2.5 thanks to true loft spaces and the stability provided by N.Y.U. The East Village and Lower East Side, however, were rated a less-stable 5.0 because of young buyers who may have bitten off more debt than they can chew.
Lastly, the Financial District came in at a 6.5, not because of the mortgage crisis directly, but because FiDi apartments tend to be purchased by FiDi workers. And if Tuesday’s bull run turns out to be only temporary, there may be far fewer apartments bought with end-of-year bonuses this winter.
Nabe nails
Speaking of neighborhoods, ever wondered what your nabe would look like as a nail polish? Probably not, but we bet you’re curious now.
If so, check out the new N.Y.C.-themed polishes made by manicurist and life-long city resident Carolyn Cianciotto. The Carolyn New York Downtown Collection has 10 bottles, including a wine-purple called Tribeca Spirit, a coffee-brown for Mulberry Street and a neutral pink named NY Stock X. And although they aren’t grouped with the Downtown Collection, the New York harbor and the Brooklyn Bridge each have their own bottles, as well (a nautical red and a romantic lavender, respectively).
Berger’s BID
Wall Street’s business improvement district has a new woman in charge.
On Tuesday the Downtown Alliance, which runs the BID, named local parent and arts advocate Liz Berger as its new president. Berger replaces Eric Deutsch, who left for a private-sector job in June. Berger will officially take the reins in November. She will be the first woman and the first Downtown resident to run the district.
An Alliance board member since 1998, Berger is a familiar face as a former member of Community Board 1. Currently, in addition to her paid work as a government relations advisor in the Law Offices of Claudia Wagner, Berger serves on the boards of the Municipal Art Society and the Governors Island Preservation and Education Corporation.
