Category Archives: Ironstate Development Company

Staten Island’s Turning Point?

A view of URL Staten Island, a new residential and retail complex rising in the Stapleton neighborhood, from the Stapleton platform of the Staten Island Railway. URL overlooks Upper New York Bay. Credit Edwin J. Torres for The New York Times

A view of URL Staten Island, a new residential and retail complex rising in the Stapleton neighborhood, from the Stapleton platform of the Staten Island Railway. URL overlooks Upper New York Bay. Credit Edwin J. Torres for The New York Times

C.J. Hughes at The New York Times features Ironstate Development in a report about the revitalization of Staten Island. 

A wide bay may separate Staten Island from the rest of the city. But in terms of real estate, differences between the borough and other enclaves seem to be lifting like a morning fog.

New rentals and condominiums, some with perks like a pet spa or rooftop beehives, are rewriting the island’s skyline. Big-city cool is popping up in a place not always noted for it: Small-batch espresso will soon flow at a coffee shop; a jug band played kazoos at a recently opened brewery; and stores selling brand-name skinny-leg pants are on their way. And a fresh crop of renters and buyers, unable to afford pricier precincts and unfazed by stereotypes about how the place can seem insular, bland or run-down, are setting sail for the island.

 Rising on a desolate stretch of waterfront is URL Staten Island, short for “Urban Ready Life,” a $250 million mixed-use project with about 900 rental apartments in a series of buildings resembling factories, with bands of windows and flat roofs, the better to house bee hives.

The first phase, with 571 studios, one-bedrooms and two-bedrooms, will open this fall. Interiors will feature stone counters and bamboo floors, plus stacked washers and dryers. Studios will likely start around $1,600 a month, and two-bedrooms at $2,800, said David Barry, the president of Ironstate Development, the developer.

The site will contain 35,000 square feet of retail space, more than half of which is now leased. Among the future tenants are a pizzeria, a store dedicated to specialty olive oils and Lola Star, a Coney Island clothing shop that is soon to open a branch in that other rising outpost, the Rockaways. Coffeed, a chain that brewed its first cup in Long Island City, Queens, will also be there.

National chain stores, such as those that dot Staten Island’s strip malls, are not welcome at URL. “This place has its own special character,” Mr. Barry said. “The stores should reflect that.”

URL will also have a 5,000-square-foot plot planted with vegetables that can be purchased from an on-site farm stand. Or, for a fee, residents will be able to request that its kale, spinach, rainbow chard and mizuna be prepared by a chef who will do double duty as the head farmer, said Mr. Barry, who was sifting through résumés for the post as he spoke.

READ FULL ARTICLE AT THE NEW YORK TIMES

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NY1 Online: 36 Acre Waterfront Community Near Completion

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NY1 VIDEOWhile a lot of attention is being put on development projects in St. George including the NY Wheel and Empire Outlets, another development project just down the shoreline is getting closer to completion. The project is transforming 36 acres on the former Stapleton Homeport into a sustainable waterfront community.  It will include 900 units of housing and 35,000 square feet of retail space. NY1’s Bree Driscollsits down with Dave Barry who is the President of Ironstate Development Company.

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Ironstate expanding its development focus to Connecticut, Staten Island

2015-03-09_11-30-35Joshua Burd at NJ BIZ reports on the expansion of Ironstate Developmentinto Staten Island and Connecticut.

After decades spent building a vast multifamily portfolio around New Jersey’s Gold Coast and then New York City, Ironstate Development is adding a new location to its list of target markets: Stamford, Connecticut.

The well-respected Hoboken-based firm is preparing to start construction on a 672-unit, mixed-use project in that city, which sits about 40 miles from Manhattan and is connected by a busy Metro-North rail station. Working in a joint venture with The Rich Co., a local developer, Ironstate said it expects to begin site work next month and deliver the first phase of 194 units by around fall 2016.

FULL ARTICLE


The builders: The Barry brothers are changing skylines and perceptions

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via Joshua Burd/NJ Biz

David and Michael Barry have been busy all over the state. - (PHOTO BY AARON HOUSTON)

David and Michael Barry have been busy all over the state. – (PHOTO BY AARON HOUSTON)

As developers go, David and Michael Barry are just about as prolific and active as anyone else in New Jersey. But that’s not because they simply finish a project and then move onto the next one.

Quite the contrary — the heads of Ironstate Development are as much about building neighborhoods as they are about building a single multifamily high-rise or chic urban hotel.

“Whether it’s Staten Island, whether it’s parts of Jersey City — or as we once did in Hoboken or New Brunswick — we pick a place and we really like to make multiple investments there,” David Barry said, “because we think that we have the skill and wherewithal to change the perception of that neighborhood.”

The Hoboken-based firm proved that once again in 2014, from opening the second piece of its mixed-use redevelopment in Harrison to breaking ground on a multiphase, three-tower project on the Jersey City waterfront. And its pipeline is as full as ever with projects in well-connected urban centers around the region — continuing the model that has helped Ironstate thrive for decades.

NJBIZ sat down with firm’s principals to discuss 2014, the industry and its plans going forward.

FULL ARTICLE


Jersey Sure! No longer is Newark’s shadow, Harrison embraces big-time development

NY Post site logoVia Adam Bonislawski/New York Post

According to Mayor James Fife, Harrison, NJ, once held the state record for the most liquor licenses issued in a square mile. Today Harrison seems to be gunning for the title in a new category — building permits.

There’s a construction boom underway in this town, tucked into a bend of the Passaic River across from Newark.

Roughly 8,000 new residential units are slated to come to market in Harrison over the next decade, Fife says — this in a city with a population of just under 14,000. Add to that the opening four years ago of Red Bull Arena here — a 25,000-capacity stadium that serves as the home of Major League Soccer’s New York Red Bulls — plus a planned $256 million modernization of the Harrison PATH station, and you have a town on the make.

And what else accounts for its soaring appeal? As the old real estate saw would have it, location, location, location.

Elaine Lau, with daughter Violet, moved with her husband, Jonathan Proman, to the new Harrison Station complex, which will ultimately have 2,250 residences. Photo: Jennifer Brown for the New York Post

Elaine Lau, with daughter Violet, moved with her husband, Jonathan Proman, to the new Harrison Station complex, which will ultimately have 2,250 residences. Photo: Jennifer Brown for the New York Post

“Location is first and foremost,” says Michael Barry, president of Ironstate Development, which, with The Pegasus Group, is currently constructing their multi-phase, mixed-use Harrison Station development next to the Harrison PATH station.

Thus far, the partners have completed a 275-unit rental building — with studios from $1,460, one-bedrooms from $1,820, two-bedrooms from $2,155 — and are currently putting up a 329-unit rental building scheduled to open next year. They also last month opened a 138-room Element by Westin hotel as part of the project. When completed, the Harrison Station complex will comprise seven buildings, 2,250 residences and 80,000 square feet of retail space.

“Harrison is located on the PATH train, and that gives you direct access to Jersey City, New York City and Newark,” Barry says. “So essentially from the [town’s] redevelopment area, you’re less than five minutes into Newark, about a 10- to 12-minute ride into Jersey City, and about a 20-minute ride into New York City.”

FULL ARTICLE


Kushner, Ironstate’s 18 Park kicks off leasing

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via Julie Strickland/The Real Deal

Kushner Real Estate Group and Ironstate Development Company’s 422-unit downtown Jersey City rental building is now leasing.

The 11-story building is offering up a mix of studio, one- and two-bedroom units ranging from $2,200 to $4,000 per month, according to a release from the developers. Several of the units are built in “town home style,” while some boast terraces, while all feature stainless steel appliances, quartz countertops, 9-foot ceilings and hardwood floors throughout. Building amenities include Hudson River, Statue of Liberty, Ellis Island and Downtown Manhattan views, as well as a 24-hour doorman, fitness center, outdoor swimming pool, catering kitchen and dining space, wifi lounge, screening area, dog run, bike room and an enclosed parking garage.

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Designed to meet LEED certification, the property was also crafted to meet Feng Shui principles set forth by Feng Shui Manhattan.

The Marketing Directors is the property’s exclusive leasing agent.

The building will also be home to the new Boys & Girls Club of Hudson County, with a state-of-the-art facility with a gym and floor-to-ceiling glass wall that can be independently accessed.

18 P outside

The project, which broke ground in June 2012, marks the latest partnership venture between Ironstate and Kushner, who launched sales down the street at 225 Grand in 2010 and leased it up in ten months. Kushner Real Estate Group is run by Murray Kushner, not to be confused with his brother Charles of Kushner Companies.

Visit http://18park.com/


One Man’s Bold Quest to Lure Cool New Yorkers to the City’s Least-Hip Borough

 

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CAN A NEW $150 MILLION DEVELOPMENT TURN STATEN ISLAND INTO A GENUINE RESIDENTIAL DESTINATION? HMM.

BY CAITLIN MOSCATELLO

Staten Island is one of New York’s five boroughs, but it seems like another world. Nobody goes there except for tourists who want to ride the free ferry and residents commuting home. The cool kids across the river have long laughed at the perennially unhip borough, treating it–if they ever think about it at all–like some loud, embarrassing cousin who you pray doesn’t show up at your birthday party and hit on your Warby Parker-wearing friends. The stereotypes can be ruthless: Mob Wives, tanning, SHOTS! SHOTS! SHOTS!, hair gel. Three members of the Jersey Shore cast were actually Staten Islanders. But here’s the thing: how many smug New Yorkers who mock that land on the other side of the ferry have actually spent any time there? What if Staten Island secretly has the potential to be…kind of cool?

FC BarryThat’s what David Barry is banking on, anyway. The 48-year-old co-president of real estate development company Ironstate is investing $150 million in a new residential project being built along the North Shore of Staten Island, and he’s specifically targeting the sort of cosmopolitan millennials who typically head directly to the sexier parts of Brooklyn. The project, set to open in fall 2015, is the first of Ironstate’s Urban Ready Living (URL) developments, which have been created with the help of Dutch design firm Concrete. The 571 initial units, with another 300-plus scheduled for phase two of construction, will be affordable–at least by New York standards, where the median price for an apartment tops $3,100 a month, according to data from the real estate research firm REIS. Pricing for the project isn’t finalized yet, but Barry says that 400-square-foot studios will start around $1,600, 550-square-foot one-bedrooms around $2,000, and 700-square-foot two-bedrooms around $2,400. That’s roughly $45 per square foot. Compare that to Williamsburg, Brooklyn–still the epicenter of NYC hipness–where studio apartments now cost an average of $2,632 a month, per the latest Brooklyn Rental Market Report.

FULL ARTICLE


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