Facade Work Progresses On Bankside’s 2401 3rd Avenue Complex In Mott Haven,

 

Exterior work is continuing to shape up on 2401 Third Avenue, a three-tower complex designed by Hill West Architects in Brookfield Properties‘ Bankside master plan in Mott Haven, The Bronx. The 4.3-acre development is a combination of two sites along the northern side of the Harlem River. 2401 Third Avenue is located on the western side of the Third Avenue Bridge, and 101 Lincoln Avenue is the larger counterpart found on the opposite side. Bankside will provide seven residential buildings, 15,000 square feet of retail space, a community facility run by nonprofit Project Destined, and 34,000 square feet of public waterfront space. Brookfield purchased the two parcels for $165 million in September 2018 from Somerset Partners and The Chetrit Group. Ground was first broken on 2401 Third Avenue in the fall of 2019, and construction on Bankside is expected to cost $950 million and yield 1,370 units.

Since topping out in the fall of 2020, the buildings have progressed rapidly with their curtain wall installation.

New photographs looking east show 2401 Third Avenue making a large presence over the Harlem River. The envelopes are made with a mixture of red brick masonry walls, dark steel columns, and floor-to-ceiling glass panels arranged in grids. The rising reinforced concrete superstructures of 101 Lincoln Avenue can also be spotted.

2401 Third Avenue’s L-shaped configuration is comprised of two 25-story towers and one 17-story building that all rise from an eight-story podium. Inside will be 450 rental apartments. Meanwhile, 101 Lincoln Avenue’s trapezoidal perimeter is the larger of the two halves, measuring around 133,000 square feet with four towers with the tallest around 250 feet high. Approximately 900 apartments are planned and should accompany the majority of the communal facilities and ground-floor retail space. The closest subway from Bankside is the 6 train at the 3rd Avenue-138th Street subway stop to the north.

Previously seen renderings by ArX Solutions depict the complex from above, from across the Harlem River, and include how the MPFP-designed waterfront esplanade will be landscaped.

2401 Third is reported to open later this year, while 101 Lincoln Avenue would probably be completed in early 2022.

190 Days and Counting

 

Tomorrow is Sunday, and I have no public schedule. I had none on Saturday, or Friday. If I didn't have to deal with those pesky reporters on Monday, I would enjoy a four day weekend working only Tuesday, Wednesday, and Thursday. After all I am a Lame Duck Mayor, not being able to run again for mayor. 

It should be about one week after the 4th of July (enjoy the Macy's Fireworks thanks to me) that you know who your new mayor will be, Yeah I know there is a November general election, but as my Department of Homeless Services commissioner Steve Banks says, that is a mere formalityNow let me enjoy my weekend.

Governor Cuomo Updates New Yorkers on State's Progress Combating COVID-19

 

Number of Patients in ICU Statewide Falls Below 100 For First Time Since Pandemic Began

Statewide 7-Day Average Positivity is 0.36%

68,342 Vaccine Doses Administered Over Last 24 Hours  

5 COVID-19 Deaths Statewide Yesterday 

 Governor Andrew M. Cuomo today updated New Yorkers on the state's progress combating COVID-19.  

"We have come far in our fight against COVID, and thanks to the sacrifices of our essential workers and all New Yorkers who came together to flatten the curve, our metrics continue to show a promising outlook," Governor Cuomo said. "The best weapon that we have to fully defeat this virus is the vaccine, which is why we continue to work with our partners across the state to get more shots into people's arms and to make sure the vaccine is accessible in every community. If you still need to get your shot, I urge you to do so quickly, so we can build on our progress and finally turn the page on this pandemic."  

Today's data is summarized briefly below:  

• Test Results Reported - 95,628
• Total Positive - 343
• Percent Positive - 0.36%
• 7-Day Average Percent Positive - 0.36%
• Patient Hospitalization - 415 (-27)
• Patients Newly Admitted - 57
• Patients in ICU - 94 (-9)
• Patients in ICU with Intubation - 51 (-9)
• Total Discharges - 184,530 (75)
• Deaths - 5
• Total Deaths - 42,952
• Total vaccine doses administered - 20,827,707
• Total vaccine doses administered over past 24 hours - 68,342
• Total vaccine doses administered over past 7 days - 376,675
• Percent of New Yorkers ages 18 and older with at least one vaccine dose - 68.9%
• Percent of New Yorkers ages 18 and older with completed vaccine series - 62.6%
• Percent of New Yorkers ages 18 and older with at least one vaccine dose (CDC) - 71.5%
• Percent of New Yorkers ages 18 and older with completed vaccine series (CDC) - 63.9%
• Percent of all New Yorkers with at least one vaccine dose - 57.1%
• Percent of all New Yorkers with completed vaccine series - 51.6%
• Percent of all New Yorkers with at least one vaccine dose (CDC) - 59.3%
• Percent of all New Yorkers with completed vaccine series (CDC) - 52.7% 

Town Hall with Representatives Alexandria Ocasio-Cortez and Jamaal Bowman on Gun Violence Awareness Month

 

Congressional Members Alexandria Ocasio-Cortez and Jamaal Bowman held a joint Visual Town Hall meeting on public health approaches to Community Safety. 

With increasing gun violence, and rising crime rates, what are the answers on how to lower and stop these shootings and crimes of violence. Congresswoman Ocasio-Cortez was very frank about what she thought about the solutions to the problem. She said some people want to bring back 'Stop & Frisk', but that is not the answer. She said that young people of color get traumatized from an encounter like that. Congressman Bowman said that he worries about being stopped by the police in certain areas where the police think he does not belong, even now that he is a member of congress. 

Both agreed that more intervention is needed, with more youth programs for teens, while more mental health programs are needed for the adults. It is not the mayor's job alone, Congressman Bowman said, but it is on all of us and everyone in the community who must do it. They have given $400,000.00 to the Jacobi Hospital for the Stop Violence Unit at the hospital, 

You can contact either Congresswoman Ocasio-Cortez or Congressman Bowman at the phone numbers or email addresses above if you have any questions.

Renderings Revealed For Nine-Story Residential Building At 1281 Hoe Avenue In Crotona Park East, The Bronx

 

In a YIMBY exclusive, new renderings from Gerald Caliendo Architects offer a first look at a forthcoming residential property in Crotona Park East, The Bronx. The project is located at 1281 Hoe Avenue and will comprise roughly 28,500 square feet. Mark Shakarov is the current property owner and is listed as 1281 Hoe Avenue LLC on construction permits filed with the city’s Department of Buildings.

The residential component accounts for the majority of the building’s footprint. This includes around 23,000 square feet of space, which will yield 45 units. All of the units will be designated Affordable Independent Residences for Seniors (AIRS).

Residential amenities will occupy a portion of the building’s second and eighth floors and are set to include multiple roof terraces, a laundry room, and bicycle storage. To improve energy performance, a portion of the roof will also support solar panels generating approximately 6.4 kilowatts of renewable energy.

At 1,950 square feet, community facilities will occupy the building’s remaining area. The ground-floor facility will be activated as an ambulatory diagnostic center.

The rendering shows an orthodox massing with a traditional grid of windows. The structure is clad in a gray cementitious material divided into dark and light hues around the centerline. The ground level features floor to ceiling windows.

No completion date has been announced for the project.

Undeveloped conditions at 1281 Hoe Avenue (via Google Maps)

NYC MAYOR’S OFFICE OF IMMIGRANT AFFAIRS RELEASES NEW ANALYSIS OF NYC’S ASIAN AND PACIFIC ISLANDER IMMIGRANT POPULATION

 

Report on demographic and economic characteristics of the Asian and Pacific Islander (API) community in NYC highlights diversity, growth, settlement patterns, immigration status and more.

 The NYC Mayor's Office of Immigrant Affairs (MOIA) has released a new analysis of the Asian and Pacific Islander (API) immigrant population residing in New York City. In celebration of Immigrant Heritage Month, this snapshot is a testament to the economic contributions of API immigrants and highlights the diversity and demographic characteristics of the City’s API community. 

The report is part of MOIA’s continued work with city agencies and community partners to address racial and economic inequities, especially during COVID-19 pandemic recovery efforts. It also comes at a time of increased incidents of discrimination and violence against API individuals, rooted in the long history of racism, stereotyping, and scapegoating of API immigrant communities in the United States. Ultimately, the report spotlights the importance of understanding more about the unique challenges and characteristics of immigrant communities to better respond to their needs.

 

Key findings of the report include:

• API is the fastest growing racial group in NYC, mainly driven by the influx of immigrants to the City. 
• API immigrants are one of the most diverse racial groups in the City, representing more than 30 different ethnic groups and speaking more than 50 languages. 
• Two-thirds of API immigrants are essential workers compared to 57 percent of White immigrants.
• API and Hispanic immigrants have the highest poverty rates of all immigrant groups (24 percent).
• 13 percent of all API immigrants in NYC are undocumented, slightly lower than the share of NYC immigrants overall (16 percent). 

 

Download the full report at on.nyc.gov/APIReport. A livestreamed presentation on the report’s key findings, in addition to the presentation deck and the report’s appendix, are available on MOIA’s Research & Evaluations page.

 

The new analysis demonstrates how the API community is not a monolith; there are many variances in the social, economic, and demographic characteristics between the diverse ethnic groups within the community. In addition, the fact sheet provides information about the ethnic groups composing New York City’s API community, concentrations of API immigrants across the boroughs, and the languages spoken within the community. It also highlights digital resources to address xenophobia and anti-Asian hate available at nyc.gov/StopAsianHate. 

 

“Better serving our immigrant communities starts with better understanding their composition, their contributions, and the challenges they face,” said J. Phillip Thompson, Deputy Mayor for Strategic Initiatives. “MOIA’s new fact sheet adds to our understanding of New York City’s diverse API immigrant communities, and it will be a critical resource to guide the City’s continued efforts to support and empower these communities over the next few years. I applaud Commissioner Batista and her team for leading this important work as we continue to chart a just and equitable pandemic recovery.” 

 

“This Immigrant Heritage Month, MOIA is proud to advance our commitment to supporting immigrant New Yorkers with our new analysis of Asian and Pacific Islander immigrant communities in New York City,” said Raquel Batista, Commissioner of the Mayor’s Office of Immigrant Affairs. “Amid the disturbing rise in anti-Asian bias and discrimination, this report breaks down myths and misinformation about the community, explores the incredible diversity of API immigrant New Yorkers, and highlights both the contributions and critical needs of our API communities. Using this new research, MOIA will continue working with and advocating for NYC's API communities to ensure a strong recovery and to build a more integrated city for all New Yorkers.”

 

“As the COVID-19 pandemic has made clear, New York City’s API immigrants are essential to our Immigrant City,” said May Malik, Deputy Commissioner, Mayor’s Office of Immigrant Affairs. “By examining the immense diversity within the API community and the issues they face, this report will serve as a critical resource for the City in its continued efforts to dismantle anti-Asian bias and economic barriers within the community, and to pursue a just and equitable COVID-19 recovery for all New Yorkers.”

 

About the NYC Mayor’s Office of Immigrant Affairs

The NYC Mayor’s Office of Immigrant Affairs (MOIA) promotes the well-being of NYC’s immigrant communities by advocating for policies that increase justice, equity, and empowerment. MOIA leads, supports, and manages programs that help to successfully include immigrant New Yorkers into the civic, economic, and cultural life of the City. For more information on all MOIA services and the City’s many resources for immigrant New Yorkers, go to nyc.gov/immigrants; call the MOIA hotline at 212-788-7654 from 9 a.m. to 5 p.m., Monday to Friday or send an email to AskMOIA@cityhall.nyc.gov; and follow us on Twitter, Instagram, Facebook, LinkedIn, and Medium.

Attorney General James Moves to Dismiss NRA’s Counterclaims in Ongoing Lawsuit

 

 New York Attorney General Letitia James today released the following statement after she sought to dismiss counterclaims brought by the National Rifle Association (NRA) that were made in response to a lawsuit Attorney General James filed against the organization last summer:

“The NRA is fraught with fraud and abuse, which is why we filed our lawsuit to remove senior leadership and dissolve the organization. For nearly a year now, the NRA has utilized one tactic after another to delay accountability, but each time the courts have rejected their maneuvers. We are now moving to dismiss the NRA’s counterclaims. Our fight for transparency and accountability will continue undeterred because no one is above the law.”

Last August, Attorney General James filed a lawsuit against the NRA and four of the organization’s current or former top executives for failing to manage the NRA’s funds; failing to follow numerous state and federal laws, as well as the NRA’s own bylaws and policies; and contributing to the loss of more than $64 million in just three years. The suit was filed against the NRA as a whole, as well as Executive Vice-President Wayne LaPierre, former Treasurer and Chief Financial Officer Wilson “Woody” Phillips, former Chief of Staff and Executive Director of General Operations Joshua Powell, and Corporate Secretary and General Counsel John Frazer.

That same day, the NRA filed a countersuit against Attorney General James. Earlier this month, the NRA dropped that countersuit in an implicit admission that their strategy would never prevail.

This past January, in an effort to avoid accountability altogether, the NRA filed for chapter 11 bankruptcy even though the organization still claimed to have healthy financial reserves. Over the course of the bankruptcy trial, LaPierre and other senior leaders admitted that the bankruptcy was simply a way of avoiding New York’s enforcement action, yet still stated that they believed that New York courts and judges could be trusted to fairly and impartially oversee the case. Last month, a federal bankruptcy court in Texas rejected the organization’s claims of bankruptcy after the NRA sought to reorganize in Texas, stating, “that the NRA did not file the bankruptcy petition in good faith.”

U.S. Attorney Announces Extradition And Guilty Plea Of Israeli Securities Trader For Participating In A Global Insider Trading Ring

 

Insider Trading Charges Are Also Unsealed Against a Second Israeli Trader for Participating in the Same Multimillion-Dollar Scheme

 Audrey Strauss, the United States Attorney for the Southern District of New York, and William F. Sweeney Jr., the Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced the unsealing today of a 15-count superseding indictment charging DOV MALNIK and TOMER FEINGOLD with offenses relating to their roles as securities traders in a wide-ranging international insider trading ring who made millions of dollars in illicit profits by trading based on misappropriated inside information.  MALNIK, a citizen of Israel and Lithuania, was arrested in Switzerland on October 7, 2020, was extradited on June 10, 2021, from Switzerland, and pled guilty today before U.S. Magistrate Judge Stewart D. Aaron.  FEINGOLD remains at large.  The case is assigned to U.S. District Judge Victor Marrero.

Manhattan U.S. Attorney Audrey Strauss said:  “Today’s charges represent another step in our Office’s pursuit of transnational insider trading.  Our Office, along with the FBI and our other law enforcement partners, will vigorously protect the integrity of our nation’s capital markets, regardless of where in the world the inside information is stolen and where tips are illegally passed.”

FBI Assistant Director William F. Sweeney Jr. said:  “Whether it happens inside or outside our borders, trading securities based on misappropriated insider information that affects our financial markets in any way will ultimately lead to federal criminal charges here in the U.S.  Protecting the integrity of our markets from threats both at home and abroad remains a top priority of our white collar crime division.”

As alleged in the Indictment unsealed today in Manhattan federal court:[1]

DOV MALNIK, a citizen of Israel and Lithuania, and TOMER FEINGOLD, a citizen of Israel, were business partners and securities traders who traded in their own names and managed various companies and investment funds.  From at least 2013 through 2017, MALNIK and FEINGOLD participated in a large-scale, international insider trading ring.  Through the scheme, MALNIK and FEINGOLD received material, nonpublic information (“MNPI”) concerning acquisitions and potential acquisitions of publicly traded companies from a securities trader who resided in Switzerland (“CC-1”).  MALNIK and FEINGOLD both knew that this MNPI was obtained by CC-1 directly and indirectly from individuals who were insiders at publicly traded companies and investment banks.  These insiders breached their fiduciary duties and shared MNPI with others, including CC-1, in exchange for compensation, who in turn shared that information with MALNIK and FEINGOLD.  MALNIK and FEINGOLD used that information to place timely, profitable securities trades resulting in millions of dollars of profits.

MALNIK and FEINGOLD began obtaining MNPI from CC-1 in approximately 2013.  During that summer, CC-1 met MALNIK and FEINGOLD and explained to them that CC-1 had numerous sources of MNPI and CC-1 could share that MNPI with MALNIK and FEINGOLD.  In return, MALNIK and FEINGOLD agreed to compensate CC-1 by buying additional securities on CC-1’s behalf and transmitting the profits from those trades to CC-1.  Soon after meeting MALNIK and FEINGOLD, CC-1 explained to them the importance of CC-1 being paid CC-1’s share of the profits in cash because CC-1 needed cash to pay his sources of MNPI.  MALNIK and FEINGOLD agreed to this arrangement and obtained MNPI about numerous companies from CC-1.  Specifically, CC-1 obtained MNPI which was subsequently shared with MALNIK and FEINGOLD from numerous sources, including MNPI that was stolen by investment bank insiders from two different global investment banks.

Throughout the conspiracy, MALNIK and FEINGOLD, as well as the investment bank insiders, CC-1, and others involved in this scheme, took numerous steps to conceal their unlawful enterprise, including through the use of encrypted messaging applications and multiple unregistered “burner” cellphones to communicate with each other.  MALNIK and FEINGOLD also attempted to avoid detection by engaging in securities trading through numerous offshore corporate entities.  For example, in 2011, MALNIK incorporated a British Virgin Islands entity based in Geneva, Switzerland, and subsequently opened trading and/or bank accounts in that shell company’s name.  During the insider trading scheme, MALNIK and FEINGOLD’s offshore companies traded in the stocks of companies about which MALNIK and FEINGOLD had received MNPI – often with multiple of those companies trading in the same stock and on the same days.

MALNIK and FEINGOLD also used these entities to transfer a portion of the profits of their illegal insider trading to CC-1 as per MALNIK and FEINGOLD’s agreement with CC-1.  At first, MALNIK and FEINGOLD instructed their banks to send the funds to an account at a financial institution in Switzerland that agreed to hold the funds for the benefit of CC-1.  After a short time, however, MALNIK and FEINGOLD’s banks questioned the purpose of the transactions and requested justification for the transfer of funds.  Accordingly, in order to deceive the banks, MALNIK, FEINGOLD, and CC-1 agreed that CC-1 would issue fake invoices for consulting services to MALNIK and FEINGOLD’s various offshore entities.  The offshore entities would then send the funds to CC-1’s account pursuant to the fake invoices.

To date, the investigation has also resulted in the conviction of other individuals who were involved in this global insider trading scheme, including investment banker Bryan Cohen, who pled guilty on January 7, 2020, to illegally passing MNPI related to his bank’s corporate clients, and entrepreneur and pharmaceutical company executive Telemaque Lavdias, who was convicted on January 15, 2020, of illegally passing MNPI related to Ariad Pharmaceuticals, Inc.

MALNIK, 43, an Israeli and Lithuanian citizen and resident of Switzerland, pled guilty to one count of securities fraud, which carries a maximum sentence of 20 years in prison.  Sentencing before Judge Marrero will take place on a date to be determined.

FEINGOLD, 42, an Israeli citizen, is charged with conspiracy to commit securities fraud, which carries a maximum sentence of five years in prison; conspiracy to commit securities fraud and wire fraud, which carries a maximum sentence of 25 years in prison; securities fraud under Title 15, which carries a maximum sentence of 20 years in prison; tender offer fraud, which carries a maximum sentence of 20 years in prison; wire fraud, which carries a maximum sentence of 20 years in prison; securities fraud under Title 18, which carries a maximum sentence of 25 years in prison; and money laundering, which carries a maximum sentence of 20 years in prison.

The maximum potential sentences in this case are prescribed by Congress and are provided here for informational purposes only, as any sentencing of the defendants will be determined by the judge.

Ms. Strauss praised the investigative work of the FBI and also thanked the Securities and Exchange Commission for its assistance.  Ms. Strauss also thanked the Office of International Affairs of the Department of Justice’s Criminal Division and the Swiss Federal Office of Justice for their assistance in the arrest and extradition of MALNIK.

 [1] As the introductory phrase signifies, the entirety of the text of the Indictment, and the description of the Indictment set forth herein, constitute only allegations, and every fact described should be treated as an allegation.