Tag Archive for: NYC

After the Boston Marathon Tragedy, NYC authorities will be implementing new security measures. Read the full article: http://www.nytimes.com/2013/10/04/sports/organizers-overhaul-security-plan-for-marathon.html?_r=0

Hurricane Season and Flood Insurance – What Ron Herscho Wants You to Know

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The 2013 hurricane season began on June 1 and will officially end on November 30. Ron Hershco believes now is the best time to make sure your properties are covered with you current flood insurance policy.

The Wall Street Journal recently published an article about new FEMA evaluations on how much flood insurance should be attained by multiple mortgage holders:

The Federal Emergency Management Administration is currently re-evaluating flood maps, requiring more jumbo-mortgage holders with homes in high-hazard areas to buy flood insurance. Also, changes to federal law enacted in July are expected to jack up premiums.

Even though flood coverage is only mandated for government-backed mortgages, or conforming loans, lenders generally keep the same requirements for jumbo borrowers who live in high-hazard (Zone A) areas. These are defined by FEMA as having a 26% chance of flooding during the lifespan of a 30-year mortgage.

“The pool of people required to pay flood insurance has dramatically increased,” said Peter Grabel, a senior mortgage loan originator at Stamford, Conn.-based Luxury Mortgage.

Both Bank of America and Wells Fargo require jumbo-mortgage borrowers to obtain the $250,000 maximum coverage available for residential properties under the National Flood Insurance Program (NFIP), which is an arm of FEMA. Homeowners can purchase a second NFIP personal-property policy that covers up to $100,000 to replace a home’s contents.

Homeowners also have the option to buy what is called “excess” flood insurance from private insurers to cover repair or replacement costs above $250,000.”

Where you or your family affected by Hurricane Sandy? Did you have flood insurance before last year’s hurricanes? Do you plan on getting it now?

 

Ron Hershco Brings Exciting New Ideas to NYC Real Estate Development

Ron Hershco NYC Real Estate Development

There is an exciting frontier in the area of NYC real estate development, and Ron Hershco is on the forefront of it. As an entrepreneur, Ron Hershco brings exciting new ideas to NYC Real Estate Development. There are many opportunities in the Big Apple for renovation of older buildings as well as the development of land for new building projects.

So what exactly is NYC real estate development? Real estate development involves the release and renovation of old buildings as well as the purchase of raw land and the sale of improved land. A developer oversees and coordinates all of these activities. Developers are the minds that convert ideas on paper into reality.

Ron Hershco has been one of the most significant and greatest minds in NYC real estate development. After working for some time with a real estate company, he decided to branch out and start his own company  to develop areas of New York City. As an entrepreneur, he has found immense success in this area for nearly twenty years.

Ron Hershco has handled a number of significant developments, overseeing  projects and breathing new life into old properties. One such development is The Meridian in Long Beach. Overlooking the Atlantic Ocean, this luxury residence is a seamless contemporary melding of style and beauty.

As a New York resident himself, Ron Hershco sees the importance of development every day. Old buildings are being renovated to not only improve the look of the city, but also to improve the lives of the people living in and around the developments. As an entrepreneur dedicated to NYC real estate development, Ron Hershco takes pride in helping to make these improvements. His company has even helped development by gifting a public school in Queens.

NYC real estate development is an exciting area and developers such as Ron Hershco work hard to make the city the best it can be. They take immense pride in their work and the improvement that they have made to the city.

Developer Ron Hershco makes a contribution to NYC’s architectural style

Visitors can get a flavor for the time periods that have come and gone as they stroll the streets of NYC and observe the various building architectural designs of past decades. Developer Ron Hershco and Ismael Leyva Architects have made a contribution to the architectural style that is distinctly New York City with the addition of the 21-story 85 Flatbush Avenue building, featuring 108 units, a swimming pool, and retail space. Additionally, Mr Hershco was responsible for the construction of Oro (a pair of towers: 35 and 40 feet tall, respectively), which was built by Plaza Construction and designed by Leyva. The complex has 515 condominiums.

In 2007 rezoning had opened the door to condominium developers in Brooklyn, but the shift then was away from luxury condos and waterfront high-rises to affordable housing. Some worried that the economic and ethnic diversity that made the borough so popular to begin with would be lost unless smart choices were made in growth and development. Brooklyn was certainly going through a transformation. According to U.S. Census data 9,191 permits were issued for privately owned residential units in 2006, as compared to 9,028 in 2005, the highest among all five boroughs.

The needs and trends of the time have an impact on architecture. New York City was founded in 1664, became the capital of the U.S. from 1785 to 1790, and has been the largest American city since then. With such a large population it comes as no surprise that the city has one of the most diverse architectures in the country, from Art Deco to Postmodernism styles. Two popular buildings display characteristics of Art Deco (1920-1930): The Empire State Building and Chrysler Building. The Woolworth, another popular NYC building, with its stone facade and angular aesthetic, gives us a sampling of Gothic Revival architecture, popular long before Art Deco, in the 1740s.

The Flatiron Building is built in Chicago School design, which was the first style to use steel frames, allowing builders to reach high in the sky. The recognizable wedge shape of this historic building marks the innovation of a skeletal structure that is capable of holding such great weight. Many other cities have borrowed this style to fashion their own smaller versions.

Other architectural designs that can be found in the high-rises of NYC include the Historicist style of the Liberty Tower, Brutalism as evidenced in the Ruppert Tower, and Postmodernism as seen in the Broad Financial Center. Many other classic designs exist among the many NYC buildings. And in modern day, other styles follow the classic ones of yesteryears.

Developers, builders, and architects have an awesome responsibility to the city, its residents, history, and future. People like Mr. Hershco are aware of the conflicting needs being addressed: there are housing needs to accommodate the growing population, environmental concerns to address, political and legal red tape to untangle, staying true to the look and feel of the landscape, and economic issues to keep in mind, among others. The architecture of an area tells a story and developers like Mr. Hershco help write that story.

http://newyork.construction.com/features/archive/2007/05_coverA.asp