Work begins on “world’s tallest” Ferris wheel in Staten Island


April 16, 2015

Preliminary construction work has begun on Staten Island’s New York Wheel: a huge Ferris wheel that will rise 192 m (630 ft) above New York Harbor. Slated for completion in 2017, the US$500 million New York Wheel will have a capacity of up to 1,440 passengers at a time.

New York Wheel is being built by Starneth BV, the Dutch firm responsible for the London Eye, and is part of a larger $1 billion redevelopment of St. George, Staten Island. Over $7 million will be spent in LED lighting and the Ferris wheel will feature 36 capsules, each with a capacity of up to 40 people. A full ride will take 38 minutes to complete.

The developers hope to attract over 4 million visitors per year, and they state that approximately 350 construction jobs and 600 permanent jobs in ticket sales, maintenance and other positions will be created as a result of the project.

New York Wheel is aiming for LEED Platinum certification (a green building standard). Though we’ve no in-depth details on any sustainable design, the firm does make mention of possible renewable energy sources being used to power the Ferris wheel, including wind, wave, and solar power, with any excess juice sent back into the grid. In addition, New York Wheel’s ancillary building features a massive 2.4 hectare (6 acre) green roof that will be host to concerts, food festivals, and corporate gatherings, amongst other events.

Though New York Wheel is promoted as the world’s tallest Ferris wheel, the Daily Mail reports that work is also currently underway on the Dubai Eye, a Ferris wheel that will be 18 m (60 ft) taller. If the report proves accurate, Dubai’s project will win “world’s largest” Ferris wheel bragging rights. Still, New York Wheel’s status as tallest Ferris wheel in the Western Hemisphere is assured.

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Coldwell Banker DiTommaso Awards Top Producers and Students

Coldwell Banker DiTommaso Realty is happy to announce the success of its 8th annual Educational Achievement Awards contest as well as its Top Producer celebration.
The DiTommaso Realty firm, a member of the Coldwell Banker Real Estate organization, recently honored its Top Producers for their accomplishments in real estate sales for the year 2014. The two-part celebration was kicked off with a special ceremony awarding two eighth grade students with an education scholarship each for successfully participating in an Island-wide essay contest. This year’s event gave eighth grade students across Staten Island the opportunity to choose any essay topic that they felt passionate about. “The topics chosen by the students this year were some of the most creative we’ve seen,” according to sales associate and event chairperson, Mary Panetta.

The program, which is named YES and stands for Young Exceptional Students, was developed by the DiTommaso Company to serve as a locally based charity to bring awareness of the importance in education to today’s young students. The first place winner with a scholarship of $750 was Michael Evans of Sacred Heart School. The second place winner was Alison Zarrilli of Our Lady of Good Counsel, receiving a scholarship for $500.
The guest speaker of the evening was Nicole Romano, President of the New Dorp Beach Civic Association and current New Dorp High School teacher. Ms. Romano spoke about the student’s essays and how impressed she was with their writing skills. She expressed how pleased she was to see a local company such as the DiTommaso Realty Firm reach out to students and the community to develop an awareness in education, specifically through writing. She also expressed her appreciation of the contest for the students especially after everything Staten Island has been through in recent years, including super storm Sandy.

Special Appearance from Elena Brady of Councilman Matteo’s Office
After an introduction by broker Frank DiTommaso, the sales professionals and guests were greeted with a special appearance by Elena Brady of Councilman Steven Matteo’s office. She presented first place winner Michael Evans with a certificate of recognition in educational achievement. Elena then presented second place award winner, Alison Zarrilli, with her certificate of recognition in educational achievement.

Honorable Mentions
Nine additional students received Honorable Mention recognition and will receive certificates of achievement for their participation. They are: Haley Marshall of Our Lady of Good Counsel, Elizabeth Bianco of Our Lady of Good Counsel, Jenna Barrett of Our Lady Queen of Peace, Melissa Poggioli of St. Clare, Alice Berte of St. Clare, Francesca Marchese of St. Clare, Emily Min of IS7, Katelyn Mauer of IS7, Alessandra Hayes of IS7.

Top Agent Awards
The event, coupled with the agency’s Top Producer awards is a tradition that started back in 2007. The agency’s Top Producer awards followed as several DiTommaso Sales professionals were honored for their successes in 2014. The Top Overall Agent award was presented to Stephanie Rosenthal and the Top Listing Agent award was presented to Diane Malagreca. The Top Selling Agent awards were presented to Dawn Eugenio and Diane Yetman. The Top Distinct Properties Specialist award was presented to Esther LaRubio. In the category of Top Distressed Property Specialist, the award was presented to Joe Pallotta. Top Rental Associate was presented to Steve Rasic and Peggy Lennon and Rising Star awards were presented to Linda Dezego and Patty Beniquez. Other honorees for million and multi-million dollar sales volume included: Stacey Cafaro, Christine Innamorato, Miguel Lopez, Alexis Crinion, Peggy Lennon, Steve Rasic, Veronika Sarcone, Robert Martino, Annette Bernabe, Debbie Zarella, Theresa Kane, Carol Jacobson, Rachel Cugini, and Richard Cofrancesco.

Coldwell Banker DiTommaso Realty would like to thank all that participated in this year’s scholarship event. We’d like to thank all the students, teachers and their principals for their involvement and we look forward to their continued participation in our future scholarship events. We would also like to thank our sponsors for their generous contributions and help in making this year’s event a great success. This year’s sponsors were: CHL Mortgage, Surf Side Properties, Foundation Financial Advisors, KRP Consulting Corp, Reliable Van & Storage Co, FranSight Franchise Consulting and Sales, Allen C. Bentson Insurance Group, and The D’Annuzio Family.

Coldwell Banker DiTommaso Realty, located at 113 New Dorp Plaza, has been serving the Staten Island and Brooklyn communities for 29 years. The firm is a full service Real Estate Brokerage open 7 days a week, its facility consists of 4,000 square feet of luxurious private and semi-private offices, plus a state of the art conference and training facility. Coldwell Banker DiTommaso has over 70 licensed sales professionals speaking a wide range of languages and offers a full processing and hi-tech marketing department to meet the demands of all its clients and sales professionals. To speak with any of our sales professionals the company can be reached at 718-667-8000 or on the web at

Staten Island Advance Article - Coldwell Banker DiTommaso Realty

Staten Island Advance Article – Coldwell Banker DiTommaso Realty

“Being part of the internationally recognized Coldwell Banker Organization means that we are affiliated with over 80,000 sales associates and over 3,100 offices world-wide. In addition, our online presence and technology is ranked number 1 in the world,” says Frank DiTommaso. “Not only do we belong to the Brooklyn MLS, but we have multiple offices in Brooklyn, Queens, The Bronx, and Manhattan. We also service New Jersey and every other state in the country with offices in just about every county in America.”

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Staten Island, Beyond Sandy

It’s a tale of two markets right now on Staten Island, where Superstorm Sandy ravaged waterfront communities but left other areas with little more than downed trees. So while low-lying areas are still suffering, the overall real estate market on the island is experiencing a remarkable turnaround – especially its posh hilltop neighborhoods, brokers said.

“We are having a fantastic year – the best we’ve had in six or seven years,” said Frank DiTommaso, a principal at Coldwell Banker DiTommaso Realty in New Dorp.

The median sale price of a Staten Island home in June was $413,500, jumping 8.8 percent from $380,000 in the same month of last year, according to the Staten Island Board of Realtors (SIBOR). The average sale price for the same period grew 7.2 percent, to $432,702. And the number of closings island-wide is up 28.2 percent year-to-date, according to SIBOR, while inventory is shrinking: There were 2,451 active listings at the end of June, down 29.5 percent from 3,426 at the same time last year.

That’s a significant improvement from the dark days of the real estate downturn, when prices across Staten Island dropped by some 20 percent and the island saw more than 330 foreclosures, according to data from Coldwell Banker DiTommaso.

SIBOR president Traci Cangiano said the island is experiencing “almost a complete turnaround,” and attributed the improvement to low interest rates and pent-up demand.

In the areas untouched by Sandy, she said, “we put homes on the market, and within days, sometimes hours, there are multiple offers. We are even seeing bidding wars.”

By contrast, the real estate market is at a virtual standstill in communities hit hard by the storm, such as Midland Beach, South Beach, New Dorp Beach, Oakwood Beach, Great Kills and Tottenville. In those areas, some 600 residential buildings were destroyed or demolished because of storm damage, according to data from the city. And many homeowners are waiting for revised building codes before repairing or rebuilding their houses, a process that could take years. In the meantime, few homeowners in these areas are willing to buy, sell or renovate for risk of having to rebuild to code later, or face punishing fines.

“Until the new elevations [as described by building codes] are set in stone, people are skeptical about buying down there,” DiTommaso said.

Adding insult to injury, flood insurance rates in these areas are expected to balloon. In June, the Federal Emergency Management Agency released new flood maps that show the number of Staten Island buildings in the so-called Special Flood Hazard Area has jumped to 11,200 from 8,000 in 2007, the Advance reported. When FEMA formally adopts these maps, likely sometime in 2015, they will determine flood insurance rates. Staten Island is a patchwork of distinct communities. Now, below is a closer look at how different areas are faring post-Sandy.

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Coldwell Banker DiTommaso Realty to Unveil DuBois Estates

Frank DiTommaso, broker and owner of Coldwell Banker DiTommaso Realty, is proud to announce the establishment the company’s new construction division. DuBois Estates, located in Westerleigh, will be headed up by the dynamic team of Broker Associate, Esther LaRubio, and Real Estate professional and marketing expert, Denise Gingold.

To be built by this summer, these three-level, semi-attached homes in this new development will each consist of three bedrooms, three bathrooms, a custom island kitchen, a formal dining room, and full finished basements with private bathrooms. The homes will also be upgraded to include custom features, including oak floors throughout.

Those who move into DuBois Estates will enjoy the many conveniences that Westerleigh has to offer, including schools and transportation. The area surrounding the new construction is just as promising as the plans for the homes themselves.

The houses are priced at $419,000 and are expected to be finished and ready for a grand opening by this coming summer. After recently selling quite a number of beautiful residential properties, the DiTommaso office is proud to offer this new addition to its division of residential new construction.

For more information about this project or any of the office’s other new construction, feel free to contact Esther LaRubio or Denise Gingold at the office at 718-667-8000.

For over 25 years, the DiTommaso firm, a branch of the nationally acclaimed Coldwell Banker real estate organization, has been servicing the real estate needs of thousands of Staten Islanders. The firm is home to over 60 sales agents and staff administrators locally, while the Coldwell Banker organization has over 3500 offices and 120,000 sales professionals worldwide. The office is open 7 days a week and is located at 113 New Dorp Plaza. To contact Coldwell Banker DiTommaso Realty, call 718-667-8000 or visit us on the web at

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Frank DiTommaso, Broker of Coldwell Banker DiTommaso Realty, is proud to announce Nashville Estates is completely sold out and has taken on Bradford Estates with a highly anticipated Summer Delivery.

Associate Broker Esther LaRubio and Realtor Associate Denise Gingold have decided to partner up to deliver the best service while marketing this brand new development. LaRubio frequently referred to as “The First Lady in Real Estate” and Gingold a marketing wizard have combined their 32 years of experience as they continue to provide a dedicated service to the many communities in Staten Island.

Each of the newly constructed luxury two-family detached homes offers 2,700 square feet of spacious living quarters. The homes feature three large bedrooms, a large master suite with cathedral ceiling, four custom tiled baths, a large island kitchen with custom cabinetry, crown moldings, 9 foot ceilings and a gas fireplace. The homes will include baseboard and radiant heat, hardwood floors, central air conditioning and a built in garage. In addition, the homes feature a separate side entrance to a one bedroom walk-out apartment.

The exterior front can be finished with either cultured stone or brick. The sides and back will be vinyl siding allowing totally free maintenance.

The homes are situated in Princes Bay, only minutes to Wolf’s Pond Park, Lemon Creek, and Bloomingdale State Park. In addition, there is convenient access to all transportation, education and shopping facilities located on the South Shore.  “Within minutes, you can enjoy all the conveniences that the South Shore has to offer”, said Broker Frank DiTommaso. “It makes perfect sense.”

Michael Carracappa, developer of Bradford Estates, has been building luxurious custom homes throughout Staten Island for nearly 30 years. His excellent reputation and commitment to providing quality workmanship at affordable prices has enabled many Staten Islanders to enjoy quality living over the years.

Since there are many financing opportunities available and interest rates are at an all-time low, buyers of the Bradford Estates homes can take advantage of the opportunity of new construction home ownership. If you’re in the market for a new home which offers luxury style and spacious rooms, then you owe it to yourself to visit Bradford Estates today. To schedule an appointment with Esther LaRubio and Denise Gingold, please call 718-667-8000.

Coldwell Banker DiTommaso Realty is a full service brokerage servicing Staten Island and Brooklyn, and is open 7 days a week providing real estate services, mortgage needs, and notary services. The DiTommaso firm is home to over 60 sales agents and staff administrators locally, while the internationally acclaimed Coldwell Banker organization has a global network with over 3500 offices and 120,000 sales professionals worldwide. The office is open 7 days a week and is located at 113 New Dorp Plaza. To contact Coldwell Banker DiTommaso Realty, call 718-667-8000 or visit us on the web at

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Coldwell Banker DiTommaso Congratulates Top Producers for 2012

Frank DiTommaso, broker/owner of Coldwell Banker DiTommaso Realty, is proud to announce that four of the firm’s Sales Professionals have achieved “Top Producer” status in sales for 2012 by the Staten Island Board of Realtors (SIBOR).

Hal Blake, Esther LaRubio, Stephanie Rosenthal, and Diane Yetman were each awarded this prestigious designation on Tuesday, March 14th, at an Awards Breakfast held at the Hilton Garden Inn to honor all of the 2012 Top Producer award winners. The agents earned this designation by consistently and successfully listing and selling numerous properties on Staten Island throughout the past year.

2012 was a challenging year for the Staten Island real estate industry. However, Blake, LaRubio, Rosenthal, and Yetman were able to persevere through the many challenges and continue to thrive in the business and satisfy the needs of their customers and clients.

“The challenges keep coming,” Frank DiTommaso said of the award recipients. “But these agents are consistently able to meet the challenges that each year brings. I’m proud of them for receiving their awards, and I wish them continued success throughout 2013.”

“These are four real estate professionals who work hard and provide the true meaning of customer service year round,” said Robert Martino, Associate Broker at Coldwell Banker DiTommaso Realty. “They’re truly deserving of their awards and I know they will continue in 2013 as well.”

The Coldwell Banker DiTommaso Realty firm, consisting of over 60 sales agents and staff administrators, is a branch of the widely acclaimed real estate organization Coldwell Banker, which has 120,000 sales professionals and over 3500 offices worldwide. To contact any of these real estate professionals, please call the main office at 718-667-8000 or visit us on the web at The office is open seven days a week.

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Big Changes for Staten Island Homeowners

FEMA’s advisory base flood elevation maps have been submitted to the city for approval. If approved, many Staten Island homeowners will have to elevate their homes between 3 to 6 feet. To see if your home is affected by this change, check out FEMA’s website: To read additional details, read the full article at

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Mortgage Forgiveness Debt Relief Act

The Real Estate industry is happy to hear that the Mortgage Forgiveness Debt Relief Act has been extended by Congress for another year. Under this act, any homeowner experiencing a deficiency as a result of a short sale of their home, will be able to have the taxes resulting from that deficiency waived from their taxable income. Thanks to this action by Congress, distressed property owners have the opportunity for another year to continue to sell their homes and benefit from this tax relief program. Click here to read more.
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Breaking News from Coldwell Banker DiTommaso

Live throws us curve balls each day. How we react, determines our success or failure. Here at DiTommaso, we respect all of our sales professionals. Sales professionals are the lifeblood of this business and fully valued as partners.

If you’re unhappy with your current situation, we welcome you the opportunity to visit our company and learn about our success track.

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