Upper East Side Development

More developments are planned for the Upper East Side as another luxury condo community will be constructed on E. 86th Street. The deal between Stillman Development International LLC and Sol Goldman Investments paves the way for a 210,000 square-foot residential building.

The condo community on the corner of 86th street and Lexington Avenue will have about 60 apartments. Keeping families in mind, the condos will be built with larger-units. Curbed New York  recently reported that a majority of Manhattan apartments are built with one or two bedrooms. However, it’s no surprise New Yorkers are searching for spacious apartments  as larger luxury condo communities set record prices last year. Amenities have become a selling point where communities are now offering  private fitness centers, personal shoppers, game rooms, and concierge services.

The New York post recently profiled Upper East Side developments including the Azure, developed by Mattone Group and the DeMatteis Organizations, The Charles, at First Avenue and 72nd Street, developed by Bluerock Real Estate and Victor Homes. The 88-unit, 43-story, 50 UN Plaza is set to be completed in December 2014.

“First Avenue is really coming alive,” Paul Saunders told the New York Post. Saunders purchased a four-bedroom home at the Azure luxury-condo community. Saunders says he enjoys the location, as it’s close to the green Carl Schurz Park and three train stations are scheduled to open along Second Avenue.

“I do believe that when the Second Avenue line is open, values are going to go up 25 to 33 percent,” said Upper East Side resident Mark J. Benun to the New York Post. “I’m sure it won’t happen at once; it’ll trickle.”

Microsoft Announces New CEO

Microsoft has named longtime engineering executive Satya Nadella as the new CEO. Nadella replaces Steven A. Ballmer who announced his resignation in August. It was also announced that company founder Bill Gates would serve as an adviser to incoming chief Nadella.

Board member John W. Thompson served as the interim chief and oversaw the search for a new chief executive. Thompson will also become the company’s chairman replacing Mr. Gates.

“During this time of transformation, there is no better person to lead Microsoft than Satya Nadella,” said Mr. Gates, who will also remain a member of the board.  “Satya is a proven leader with hard-core engineering skills, business vision and the ability to bring people together.”

In a statement, Mr. Nadella said, “Microsoft is one of those rare companies to have truly revolutionized the world through technology, and I couldn’t be more honored to have been chosen to lead the company.”

Nadella told ABC news that his focus will be on a “mobile-first, cloud-first world” as Microsoft tries to catch rivals such as Apple, Google and Amazon. The company also wants to expand its business as a provider of software and services over the Internet. The 22-year Microsoft veteran served as the head of Microsoft’s cloud computing business. Gates will be working on products and technology.

One of Nadella’s first tasks as CEO will be to complete $7.3 billion purchase of Nokia’s phone business and patent rights — part of a plan to boost Windows Phone software in a market dominated by iPhones and Android devices.

Nadella said Tuesday in a statement, “Going forward, it’s a mobile-first, cloud-first world.”

Winter Storm Slams U.S. Again

Just a few days after Super Bowl XLVIII, a winter snow storm is passing through the central Plains, Midwest and Northeast. Up to two dozen states and at least 100 million people will be affected by the snow and/or ice. New York City is expected to get pummeled with some eight inches of snow and ice on Wednesday. It’s the third round of brutal weather due to hit the Big Apple and expected stick around throughout the weekend.

The weather service has issued winter storm warnings for the New York metro area, northeast New Jersey, southern Connecticut, and much of upstate New York. Forecasters predict more than 20 inches of snow could fall in some areas.

Website Flight Aware show that some 1,500 flights were  canceled by Tuesday. The most affected airport – with more than 150 cancellations – was O’Hare International in Chicago.