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Michael Stoler Newsletter The Stoler Report-NY's Business Report What's Happening on the West Side

03/05/2013

whats happening on west side

ippolita

Greetings!

 This week join Michael Stoler on the television productions of New York Real Estate TV, LLC.

Monday, March 4th, , Michael Stoler's guest on "Building New York-New York Life Stories" profiles the life of Ippolita

On Tuesday evening, March 5th, the topic of the Stoler Report-New York' Business Report  is "What's Happening on the West Side?

My guests on the broadcasts include Christopher Albanese, Joseph Moinian, Bruce Mosler and Philip Wharton.

On Tuesday evening, March 5th, Building New York-NY Life Stories will air nationally on Direct TV and JLTV at 9 PM (EST) and 12 Midnight

The Stoler Report-New York's Business Report now airs a total of 15 times a week on CUNY TV in New York City and PBS in the region.

Every Monday morning  you will receive the latest real estate article by Michael Stoler on the state of the market an information about the upcoming guests on the productions of New York Real Estate TV, LLC
Sincerely
Michael Stoler

A limited number of Brand new luxury one to three bedroom apartments rent in Bedford Stuyvesant

Finding an affordable, brand new luxury apartment is nearly as impossible to find "a needle in a haystack." Securing such an apartment in the very popular borough of Brooklyn is also a major task. Nevertheless, 17 apartments remain available to rent at The Acacia Apartments, a mixed income housing community located at 1560 Fulton Street in the Bedford Stuyvesant section.

A total of 104 rental apartments (1, 2 and 3 bedroom) of which 83 units were available as affordable units, were built and made available under the Mixed Income Rental Program of The City of New York's Department of Housing Preservation and Development (HPD) and the New Housing Opportunity Program (NewHop) of the New York City Housing Development Corporation.

Current availability include two, one bedroom/one bath apartment at a rent of $1,887; fourteen, two bedroom/two bath apartment renting for $2,366 and one, three bedroom, two bath apartment renting for $2,729. Each apartment ahs a modern kitchen featuring stainless steel appliances and granite counters. A number of the remaining apartments also have a balcony at no additional cost.

The building is expected to be LEED Silver certified, featuring the neighborhood's first ever on site cogeneration plant as the heart of the building's mechanical system The high efficiency gas fired plant will generate electricity, heating and cooling, and is capable of providing back up power during blackouts.

Household size for the apartments range from 1 to 2 for one bedroom; 2 to 4 persons for two bedroom and 2 to 6 persons for the three bedroom units. The total minimum annual income of prospective tenants range from $66,686 to $159,520

For additional information visit the website of the building at www.1560fultonst.com, or call 718-363-0009

Banks invade Park Avenue and Midtown Manhattan

National and international retailers search for great locations to rent and to brand their company on Fifth and Madison Avenues. In the world of financing, regional and national financial institutions want to have their presence felt on Park Avenue.

Directly across from the corporate complex of JP Morgan Chase is Fisher Brothers, Class A office building at 299 Park Avenue. Construction is underway for BankUnited's flagship Park Avenue location on the ground floor level of the tower. Just a few blocks away at 400 Park Avenue, construction is proceeding for the headquarters and branch of Los Angeles based City National Bank at 400 Park Avenue in the location which previously served as Syms. Last December, Connecticut based People's United Bank opened its flagship branch at 250 Park Avenue in a location which previous served as the showroom for Audi.

In addition to these branches on Park Avenue, City National Bank is constructing another major branch at 1180 Avenue of the Americas. BankUnited will be opening an 11,000 square foot location at 960 Sixth Avenue in Herald Square, and a 14,000 square foot triplex location at 136 East 57th Street, at Lexington Avenue. First Republic Bank will be opening a branch at the corner of East 56th Street and Madison Avenue. Just a few blocks away at the corner of Third Avenue and 57th Street and on Second Avenue and East 56th Street, are new retail locations of TD Bank.

Brick and mortar retailers will have to work hard to attract baby boomers for growth

As individuals over the age of 55, have more free time, a study of London based market research firm Conlumino reports this segment of the population will dominate retail shopping centers of the future, contributing nearly two thirds of sales growth over the next ten years.

Retailers in brick and mortar center must adapt to attract these shoppers who will be the dominate force for sales.

With relatively low growth and the ongoing move to online shopping will drive a 10% drop in the total store numbers.

As reported in The Guardian, the over 55s section will contribute nearly two thirds of retail sales growth over the next decade as the baby boomers head into retirement. The aging population will continue to fuel retail sales growth at 2.4% over the next ten years. However, this growth is significantly below the average 4.5% growth enjoyed during the late 1990's.

"The older shopper of tomorrow is very different from today. They are a lot more savvy and demanding in terms of customer services and they are more attuned to fashion trends which they want adapted to suit their age bracket," says Neil Saunders from Conlumino.

He says those retailers who can get the formula right have a great opportunity to take market share from some of today's brands who are still creating products for the "Miss Marple generation".

David Atkins, chief executive of shopping centre developer Hammerson, which commissioned the report, says that its response to an aging population will be to improve car-parking and add more restaurants and leisure facilities such as cinemas, so that older shoppers can relax with friends and family.

Stores are also likely to be bigger to allow shoppers to see a wider range of products to be displayed and fit in new customers services such as collection points for good bought online.

Clash of the e-titans: Google to open its own stores by the end of the year

Over the past few months, Apple has announced plans to reduce the number of its existing "Apple Stores", while Microsoft has opened pop-up as well as permanent stores for it's tablets and other products. Both of these company's now have to worry about a major competitor, Google is in the process of building its first stand alone retail stores and hopes to have its first flagship sore open for the holidays in major metropolitan areas.

This information was released on February 15th on the website 9to5Google.com reporting that the mission of these stores is get new Google Nexus, Chrome, and especially upcoming products into the hands of prospective customers.

Google currently has Chrome Store-within-a-store models in hundreds of Best Buys in the U.S. and in the PC World/Dixon's in the United Kingdom.

These stores have Google trained employees who demonstrate the value of Chromebooks and can answer the multitude of questions people have before making a purchase.

Google products are currently offering online and sold through its Play digital storefront and through Amazon and some other retailers.

But having its own retail stores could increase consumer awareness around its growing line of physical products and potentially increase sales, analysts say.

In addition to the consumer gaining the opportunity to purchase and have an actual experience with the Google product, the entrance of Google to the bricks and mortar marketplace can be a boom to the major owners of retail sites.

Apple Store is at the top of the list of the highest sales per square foot of any brick and mortar retailer. Research company RetailSails ranked Apple number one with average $5,600 per square foot of retail sales, nearly double the next nearest retailer.

More and more shoppers purchase their groceries on line

Thousands of consumers in the tri-state region are taking advantage of virtual supermarkets to purchase their groceries. With limited time to get to the store, they can now shop anywhere, anytime and have groceries delivered right to their front door.

Stop & Shop, offers Peapod, allowing the consumer to shop anywhere on your iPad, Smartphone or Kindle.

In addition to offering consumers the opportunity to purchase on line, Peapod last fall expanded its virtual grocery store program in commuter rail stations. They launched more than 100 virtual grocery stores at stations in Boston, Connecticut, New York, New Jersey, Philadelphia, Washington, D.C. and Chicago.

The virtual stores feature billboards of grocery aisles on train platforms. Commuters with iPhone, iPads or Android phones scan a QR code on the billboards to download the free PeapodMobile app and start shopping on the spot by scanning bar codes of the products displayed on the billboards.

On average, commuters in the cities where Peapod delivers spend an hour in transit to and from work each day, Peapod says. With the Peapod virtual supermarket, consumers can get orders started, make selections from Peapod's entire online store and schedule home deliveries, making the most of their train rides, said, Mike Brennan, COO of Peapod.

Peapod, owned by Dutch supermarket company Royal Ahold, says it expects half of it orders t come through mobile devices by 2014. Soon after building its iPad app, Peapod said it found that iPad users spend more, on average, than the typical Peapod ticket of $150.

03/05/2013 - 16:45

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Stoler Report

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