Num Pang Reopens…Almost in the Same Place

Dear Board Members, Residents, & Building Staff,

While we are enjoying the nice rain-free weather lately, New York experienced truly little rainfall in October. In fact, it is the second-longest dry spell we have seen in 155 years. This means we are potentially facing water shortages if either the weather does not change and/or we do not cut back on water usage. This past Saturday, Mayor Adams asked city agencies to implement “water savings plans” and suggested that New Yorkers consider cutting back at the tap. While his announcement does not mandate any restrictions on water use, we want to be mindful of the situation. And as we manage hundreds of properties in the five boroughs, we feel it is important to pass along this message. For New Yorkers living in AKAM managed properties interested in doing their part, please consider the following water-saving measures:

In the Bathroom:

• Taking shorter showers will save 5 to 7 gallons a minute.
• When taking a bath, fill the tub only halfway and save 10 to 15 gallons.
• Install water-saving toilets, showerheads, and faucet aerators.
• Place a plastic bottle filled with water in your toilet tank if you cannot switch to a low-flow toilet.
• Turn off the faucet while shaving, washing your hands, or brushing your teeth. Faucets use 2 to 3 gallons a minute.
• Do not use the toilet as a wastebasket, and do not flush it unnecessarily.

In the Laundry Room/ Kitchen:

• Run the dishwasher and washing machine only when full. Save even more by using the short cycle.
• Install faucet aerators.
• Turn off the water while washing dishes. Kitchen faucets use 2 to 3 gallons a minute. Filling a basin only takes 10 gallons to wash and rinse.

Outside:

• Use a self-closing nozzle on your hose.
• Sweep your sidewalk or driveway instead of using water.
• Water plants before 9am or after 7pm and do not overwater them.

Other:

• Repair leaky faucets and turn taps off tightly. A slow drip wastes 15 to 20 gallons each day.
• Do not open fire hydrants.
• If you see a leaking or running fire hydrant, please report it to 311 or fill out this online form so we can follow up.

The Hell’s Kitchen restaurant Taboon, which has charmed diners since 2004 with its breads, pizzas and small plates, will soon offer a taste of the Middle East to the NYU crowd.

The owners of the eatery on 10th Avenue and 52nd Street will open a still-unnamed “quick-service” Mediterranean joint at 30 E. 13th St. within the next two months, the realtor for the space announced this week.

The 1,000-square-foot space previously held the Korean restaurant DoSirak, which moved across the street in September and changed its name to BAK Korean Kitchen & Craft Beer Hall.

Fans of Taboon, which New York Times food critic Frank Bruni said put “a deft, sophisticated spin on Middle Eastern food,” will find its new sister restaurant has a similar atmosphere, Kelly Gedinsky of Winick Realty Group LLC said in a statement.

Click here to see 21 archival photos of Union Square dating back as far as 1888.

The new tenant in the old Foxy Lady space on 14th St. will be GameStop.

From Curbed: Now that the demolition of the Greenwich Village building that once held Bowlmor Lanes (RIP) is complete, it paves the way for the 23-story tower that’s due to rise on the site. And now, Curbed has the first details on that development: The building, designed by Annabelle Selldorf, will be called 21E12, and a teaser site launches today. As for pricing, considering that these are Selldorf condos in a desirable neighborhood, they’re about as expensive as you might expect: one-bedrooms will start at $2.35 million; two-bedrooms will start at $3.95 million; three-bedrooms will go from $5.45 million; four-bedrooms, from $8.25 million; and a selection of townhouses and penthouses will range from $10.5 million to more than $15 million.

The Union Square area is becoming a high-tech hotbed. Mashable CEO Pete Cashmore was interviewed about why he brought his company here:

Last September, Pete Cashmore moved Mashable’s headquarters from 23rd Street to the heart of Union Square. What he found when he arrived was a climate he says is perfect for startups.

Factors that play into the business climate he found just a few blocks south of Mashable’s previous location include a fertile history of innovation, access to creative talent, and proven professionals. But in the end, what’s most attractive to Cashmore is good, old-fashioned, face-to-face interactions.

“Union Square has always been a meeting place, where people come together and share ideas,” Cashmore told me on Tuesday at an event at the British Residence of New York. “And now with it becoming a real hub of innovation it is a great place to be.”

Now employing about 140 people, Mashable’s offices occupy two floors on Fifth Avenue and 17th Street.

No doubt, part of what Cashmore found there was nurtured by venture capital firm, Union Square Ventures (USV), which was founded in 2004 and now manages $1 billion in assets across six funds. USV’s previous investment in New York City-based companies include Etsy (Nasdaq: ESTY), Tumblr (acquired by Yahoo for $1.1 billion), and MongoDB, which has raised $311 million venture capital.

But over the past year, the number of significant real-estate investments in Union Square shows that it’s much more than just Fred Wilson’s influence at work in the area.

The top three lease transactions of 2015 are BuzzFeed, which now occupies 194,000 square feet at 225 Park Avenue South, Gawker Media, which is in 58,900 square feet at 114 Fifth Avenue, and First Look Media in 58,206 square feet at the same location, according to a Union Square Partnership report published in May. New and expanded office tenants in Union Square also include Dropbox, Adobe Systems Inc. Hulu, Lippe Taylor, Pop2Life, Capital One Labs, The New Republic, and Compass.

The top sector in the area is “professional, scientific, and tech services,” with 1,514 firms, followed by retail with 1,393 firms. Among the top firms by number of employees is J. Crew, listed with 3,800 employees and Tory Burch, with 1,800. In total, 9,700 businesses are located within the half-mile radius of Union Square considered by the report, employing over 153,000 people.

What’s attracting all this talent? Not the rent. According to a May report by San Francisco-based real estate analytics firm Zumper, only two neighborhoods are more expensive than Greenwich Village, where Union Square technically is designated as being located. Average rent for a one bedroom apartment costs $3,850. In Chelsea it’s $3,920, and in Tribeca, $4,450. According to the same report, New York City was the second most expensive city in the United States, just behind San Francisco.

In an interview Wednesday, Union Square Partnerships managing director Scott Hobbs ventured his own theory as to why so many innovative companies are moving to his neighborhood. “The biggest reason is it’s a transportation hub,” he said. “You’ve got Williamsburg for creatives across the river, and midtown for business.” Trains that depart Union Square Station are the N, R, Q, 4, 5, 6, and L.

As for Cashmore, his explanation is much more simple. “What’s really great about Union Square is you can go get a coffee and bump into someone doing something interesting in tech,” he said.