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  • Brooklyn luxury market saw 17 signed contracts last week

    The Real Deal New York 18 Jun 2018 | 7:00 am

    Brooklyn’s luxury real estate market saw 17 contracts signed last week, split between three condominiums and 14 houses. The combined asking price of the homes totaled $54.9 million overall and went for an average of roughly $3.2 million, according to the latest report from Stribling & Associates, which counts all homes priced at $2 million or more. The properties spent an average of 143 days on the market. This was a slower week than the […]

  • Related turns to Uncle Sam for $1B Hudson Yards loan

    The Real Deal New York 18 Jun 2018 | 6:42 am

    The Related Companies is seeking a $1 billion, low-interest loan for the next phase of Hudson Yards from the same pool of money that the Gateway project has struggled to tap into. Related filed a draft worksheet with the U.S. Department of Transportation outlining its proposal to use the funds to build a platform over the West Side rail yards, Politco reported. The low-cost loan would save millions compared to traditional financing for Related, which […]

  • Queens group raises red flags over Heskel Group CEO’s donations to elected officials

    The Real Deal New York 18 Jun 2018 | 6:11 am

    A community group opposed to Yeheskel Elias’ planned Jackson Heights development is crying foul over donations the developer made to public officials who have the power to approve the project’s rezoning. Elias, CEO of the Forest Hills-based Heskel Group, teamed up with Sun Equity Partners to pay $27 million in 2016 to buy the site of the former Jackson Heights Cinema at 40-31 82nd Street. The developer applied to rezone the site in September 2017, […]

  • Shopping Guide: Shopping for Firepits

    NYT > Real Estate 18 Jun 2018 | 2:00 am

    The right firepit will not only welcome friends and family, but also extend the time you can spend outdoors.

  • What's Selling Now: Homes That Sold for Around $750,000

    NYT > Real Estate 17 Jun 2018 | 2:00 am

    Recent residential sales in New York City and the region

  • Ask Real Estate: Costly Repairs Are Looming. Must I Tell the Buyer?

    NYT > Real Estate 16 Jun 2018 | 7:00 am

    What obligation do sellers have to disclose potential problems with their homes?

  • Money Can Buy You Real Housewife Luann de Lesseps’ Sag Harbor Retreat

    Real Estate – Observer 15 Jun 2018 | 11:09 am

    Don't be all, like, uncool.

  • Winick brings LIC’s Luna building to full retail capacity

    Real Estate Weekly 15 Jun 2018 | 10:14 am

    Long Island City’s luxury condo Luna has fully leased out its retail portion thanks to Winick Realty’s Aaron S. Fishbein and Steven E. Baker.

    The building at 42-15 Crescent Street, between 42nd Road and Queens Plaza South was developed by World Wide Group and is home to 124 luxury rental units. Tasked with filling the remaining five retail spots, Winick Realty found a diverse mix of tenants. Baker, Winick’s president, brought in fitness, food, and dental care, while Fishbein arranged retail leases for a pharmacy and barbershop.  

    SLT Fitness, the popular fitness concept that offers a 50-minute class that combines cardio, strength training and Pilates into an efficient and effective workout, is set to open its first Queens location at the Luna later this summer. The brand, which currently operates in six states, leased 2,400 s/f on the ground floor. They were represented by David Abrams of RKF in the lease transaction.

    Popular Astoria-based bakery Chip is bringing its famous cookie creations to Long Island City in a 575 s/f space. Expected to open in the fall of 2018, this will be the company’s third location, including a stall in Manhattan’s Gansevoort Market. Chip was represented by Eddie Mamiye of RKF.

    Queensboro Plaza Dental Care, the dental practice of New York native Michael Nguyen and his wife, Fate Nguyen, leased 2,100 square feet on the ground floor and is open for business. Derek Ritter of Practice Real Estate Group represented the tenant.

    Fishbein’s tenants recently opened and are already operating inside the Luna. Healthy Living Pharmacy occupies 2,021 square feet on the ground floor, while Crescent Barbershop opened a 300 square-foot space. 

    “We are incredibly proud to be bringing five high-level retailers to World Wide Group’s LUNA building. These five retailers saw how under-served and under-retailed Long Island City is and as each moves into their space and opens their doors, they look forward to offering much-needed retail and services to the residents of the building and of this growing community,” said Fishbein.

    The post Winick brings LIC’s Luna building to full retail capacity appeared first on Real Estate Weekly.

  • Science and real estate join hands at symposium

    Real Estate Weekly 15 Jun 2018 | 9:12 am

    The first annual Life Sciences 2018 Real Estate Development Symposium drew a crowd of more than 250 scientists, biotech, real estate and design professionals.

    Several panels discussed how to reimagine the way the city’s future growth alongside new technological developments in science. The discussion also steered towards the city’s rapid expansion of life sciences centers, including the city’s recently announced plans to create an Applied Life Sciences Hub.

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    The post Science and real estate join hands at symposium appeared first on Real Estate Weekly.

  • Designers discuss and show off Waterline Square’s interiors

    Real Estate Weekly 15 Jun 2018 | 8:55 am

    More than 200 guests gathered at the Waterline Square Sales Gallery to hear about the new three-tower development in the Upper West Side.

     

    The three waterfront properties were all partnered with separate interior designers, Alexandra Campalimaud from Champalimaud Design, Glenn Pushelburg from Yabu Pushelberg and Russel Groves from Groves & Co. The event was hosted by developer GID Development Group and featured a discussion between all three designers.

     

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    The post Designers discuss and show off Waterline Square’s interiors appeared first on Real Estate Weekly.

  • Nicole Kidman and Keith Urban Just Discounted Their Tennessee Farm

    Real Estate – Observer 14 Jun 2018 | 11:57 am

    The couple wants out of the 35-acre estate.

  • The Obamas Will Have to Find a New Martha’s Vineyard Vacation Home

    Real Estate – Observer 14 Jun 2018 | 9:47 am

    Their former summer rental is now taken by a $15 million buyer.

  • New York Mayor de Blasio and City Council agree on a 2019 fiscal budget, with provisions toward affordable and public housing

    BrokerPulse 12 Jun 2018 | 1:45 pm

    The 2019 fiscal budget agreement was announced by Mayor Bill de Blasio and City Council Speaker Corey Johnson at City Hall on Monday. Photo Credit: Vincent Barone

    (New York, NY) — New York City Council and Mayor Bill de Blasio announced their agreement on a budget for the fiscal year 2019, which would include provisions to different sectors of New York’s housing crisis.

    “We have prioritized permanent housing in a plan that will bring 2,000 units of supportive housing over the next 11 years, and an extra $150 million in Capital funds will go towards making schools handicapped accessible. This budget is the result of the Council working together and prioritizing big ticket items that we know will help New Yorkers in all five boroughs,” said City Council Speaker Corey Johnson.

    The agreed-upon budget will increase the amount of supportive housing units created annually from 500 to 700, devote $3 Million to create 60 new runaway and homeless youth shelter beds for 21-24 years olds in need and $500 Million toward senior affordable housing, targeted at four Housing Preservation and Development sites and 2 New York City Housing Authority sites.

    “New Yorkers spoke, and we listened. Working closely together, the Council and the administration have devised a progressive budget that truly delivers for our city. There is much to celebrate in this budget,” Committee on Finance Chair Daniel Dromm.

    On June 4, the Mayor and the Council jointly announced the creation of a Property Tax Reform Commission, to develop recommendations to reform New York City’s property tax system to make it “simpler, clearer, and fairer,” according to a June 4 statement, in an effort to ensure that there is no reduction in revenue used to fund essential City services.

    This came amid calls from city officials, especially Corey Johnson, for the initial fiscal budget proposal to set aside money to refund middle and lower-class property tax-paying homeowners.

    The commission will solicit input from the public by holding at least ten public hearings. The last in-depth review of the system by a government-appointed commission was in 1993.

    “I’m incredibly proud of this budget and the strong spirit of collaboration of the Council that enabled us to protect, create, and even enhance a number of programs that will benefit the people to New York in the coming year,” said Subcommittee on Capital Budget Chair Vanessa Gibson. “It has been an honor to chair the City Council’s first ever Subcommittee on Capital Budget and I am proud that New York is leading the way in oversight of municipal spending on capital projects.”

  • Greenwich Village Apartment Only $28.43 a Month!

    BrokerPulse 10 Jun 2018 | 7:48 pm

    (New York, NY) — True or false: for 63 years a woman was paying under $30 a month for her apartment in Greenwich Village. If you guessed true, you’re right.

    Patricia O’Grady moved into the Manhattan apartment back in1955, with three roommates. They swept the hallway floors in exchange for a $16 rent. Upon moving in, the apartment had no sink, no bath, no hot water, or heat. The girls built a sink along with basic furniture, and that’s how the apartment stayed for over six decades. The roommates eventually moved out, but for O’Grady, the apartment remained her home until she passed away this past March at 84 years old.

    According to her landlord, Adam Pomerantz, O’Grady was adamant about keeping the apartment as is and refused all offers for improvements. In fact, when her one light bulb went out, she lived by candlelight. Pomerantz attempted to install proper heat, but O’Grady insisted against it. “She didn’t want it. She didn’t want anything,” said Pomerantz.

    O’Grady spent most of her time at the 14th street YMCA, where she swam, showered and read the paper.

    While over the years her rent increased to $28.43, it was still unheard of and even harder to believe! Pomerantz recalled consulting with an attorney about whether or not that amount was possible. After using a rent-control-formula worksheet, he discovered it was legal, making his building home to one of Manhattan’s last cold-water flats.

    O’Grady was an actress who appeared in T.V Soap Operas, theater productions, and the movie “Taxi Driver.” She preferred simple living and used her apartment as a rehearsal space for fellow actors.

    As for the apartment now, Pomerantz is planning to renovate the two-bedroom home and put it on the market for, get this, around $5,000.

  • The Surface of this Eco-Friendly Luxury Building is Cleaning Our Air

    BrokerPulse 7 Jun 2018 | 7:55 pm

    570 Broome Street. Photo Credit Street Easy. Builtd/SOM

    (New York, NY) — Soho’s 570 Broome has a new eco-friendly feature that is leaving the whole country jaw dropped. The building has the purifying power of 500 trees which is equivalent to taking over 600 cars off the road a year!

    How is this possible?

    The facade is sprayed with a solution called Pureti. This solution works by breaking down contaminates clogging the air through a photocatalytic process that turns polluting particles into oxidizing agents. The process is superbly fast, over a million times per second, making the surface virtually self-cleaning while also cleaning the air. Incredible, right?

    

    The building is crafted with a revolutionary compact surface that specializes in clean design. And, while this may seem like an example of the rise of new technologies, the story of this magical spray began back in 2004. Co-Founder of Pureti, Glen Finkel, partnered with organic chemist John Andrews, who developed textile coatings for NASA, and the idea took off. “we’ve been perfecting it ever since,” said Finkel.

    Along with NYC, Pureti will be making appearances on buildings around the world in countries such as Spain, Argentina, and Turkey. While one building isn’t going to change much, if more adopt this eco-friendly solution, it could be a game changer. Finkel commented, “if cities begin to adopt this technology, they could transform their outdoor environments.”

    Will we see more of this in Manhattan’s luxury market?

    High-end buildings need something more than just luxurious style. Nowadays, 24-hour amenities isn’t enough to draw in wealthy buyers. Luxury buildings are looking for new and exciting features to set them apart from others, and it seems sustainable and green buildings are on the rise. Along with being a neat feature, A CityLab study revealed that breathing in city air is equivalent to being a smoker, making eco-minded developments more crucial than ever.

    BONUS

    

  • Mannequin maker shifts to new showroom space

    Real Estate Deal Watch - Crain's New York Business 1 Feb 2016 | 9:00 pm

    Midtown / Park Ave. South - A company that manufactures and provides mannequins to retailers across the city is moving its midtown south showroom a few blocks away. Mondo Mannequins leased 4,500...

    To view the full story, click the title link.

  • Deal Preserves Apartments’ Affordability for 55 Years

    Multi-Housing News Online 30 Oct 2015 | 5:11 am

    Photo credit: www.forrent.com

    Photo credit: www.forrent.com

    By Dees Stribling, Contributing Editor

    Pacifica, Calif.—Ocean View Senior Apartments has traded hands, with National Church Residences selling the property to Bridge Housing for an unspecified price. The transaction will preserve Ocean View as an affordable housing property for seniors in Pacifica and pave the way for new capital improvements.

    In 2000, National Church Residences acquired the 100-unit Ocean View at the request of the City of Pacifica, with the goal of sustaining the property’s affordability. Since then, the nonprofit provided property management at Ocean View and raised funds for roof replacement and other improvements. Most recently, National Church Residences had been pursuing a refinancing of Ocean View to repay two maturing loans and address capital needs.

    Bridge will start renovations next month with new financing in place. That includes tax-exempt bonds, additional funding through California Housing Finance Agency, restructuring of existing debt with the San Mateo County and the Housing Endowment and Regional Trust, and the addition of low-income housing tax-credit equity.

    The planned renovations will replace aging building elements with more efficient and higher-performing alternatives; restore and enhance the physical condition of the building; and, according to Bridge, enhance residents’ quality of life. The recapitalization also provides funding to enhance on-site services. Residents will have access to programs such as wellness and nutrition classes and referral services, without charge.

    All current residents will be able to remain in their units for the long term, and new deed restrictions have been placed on the property to ensure rent restrictions will continue for 55 years. Ocean View is affordable to seniors whose annual incomes range from about $14,928 to $84,500 (minimum income standard to 80 percent of area median income, depending on household size), though 31 apartments will have additional subsidy provided by the Housing Authority of the County of San Mateo.

  • Suburban Dallas Apartments Up for Sale

    Multi-Housing News Online 30 Oct 2015 | 4:55 am

    By Adriana Pop, Associate Editor

    Dallas—Greysteel has been retained as exclusive advisor and agent for the sale of The Lakeshore, a 140-unit garden-style multifamily community in the Northwest Dallas suburb of Lake Dallas, Texas.

    The Lakeshore in Lake Dallas, Texas

    The Lakeshore in Lake Dallas, Texas

    Completed in 2015, the property offers 40 one-bedroom/one-bathroom units at 763 square feet, 36 two-bedroom/two-bathroom units at 1,080 square feet, 40 two-bedroom/two-bathroom units at 1,091 square feet, and 24 three-bedroom/two-bathroom units at 1,311 square feet.

    The community is conveniently located along Swisher Road, a high traffic thoroughfare which provides ideal accessibility to Interstate 35E, Dallas-Fort-Worth’s main north and south artery. Residents at The Lakeshore also benefit from the property’s proximity to the University of North Texas in Denton, which is educating over 36,000 undergraduate, graduate, and doctoral level students. Another attraction is the nearby Lewisville Lake, which features 183 miles of shoreline along with over 29,600 acres of navigable waters that offer a multitude of activities.

    Unit interiors feature wood-look vinyl flooring, ceiling fans, brushed nickel fixtures, walk-in closets, a desk nook with cabinetry, private balconies and patios with storage, washer and dryer connections, and black appliance packages with microwaves. Exterior amenities include a resort-style swimming pool, fitness center, business center, clubhouse, theater, BBQ grilling area, and garages.

    Greysteel’s multifamily investment sales team in charge with the assignment is led by Boyan Radic, Doug Banerjee, Andrew Mueller, and Ryan Hill.

    “The Lakeshore is one of only two Class A developments in the City of Lake Dallas in the past 10 years and the design was done by award winning BGO Architects along with the landscaping designed by Meeks Design Group (MDG),” Doug Banerjee, Greysteel director, said. “This property will allow a new buyer to come in and acquire a brand new asset on the highly trafficked Swisher Road extremely close to Lewisville Lake, which makes it a very desirable location for years to come.”

  • C&W Finds Buyer for Villas at Pine Hills

    Multi-Housing News Online 30 Oct 2015 | 3:21 am

    By Balazs Szekely, Associate Editor

    Villas at Pine Hills

    Villas at Pine Hills

    The Villas at Pine Hills multifamily community was recently sold. SCR Properties 3 LLC closed on the acquisition of the 96-unit property in a transaction valued at $5.85 million. Executive Director Jay Ballard and Senior Director Ken Delvillar with Cushman & Wakefield represented the seller, Villas at Pine Hills Partnership.

    Located on a 16.5-acre site at 5249 Champagne Circle in Orlando, Villas at Pine Hills is surrounded by a densely populated garden suburb northwest of the city’s core. Ridgewood Park Elementary and the Maynard Evans High School are both within walking distance from the community, which also offers easy access to a number of shopping and dining destinations. Completed in 1984, the community comprises two-bedroom, two-bathroom duplexes measuring 980 square feet. Each unit features a private driveway, direct access garage, a fenced patio and washer and dryer connections.

    Photo credit: Cushman & Wakefield

  • Ad firm takes a second floor in midtown south building

    Real Estate Deal Watch - Crain's New York Business 28 Sep 2015 | 10:00 pm

    Midtown / Park Ave. South - Lowe & Partners Worldwide is doubling its space at 386 Park Ave. South a year and half after signing a deal to move into the building. The advertising firm is taking the...

    To view the full story, click the title link.

  • Upper West Side goes upscale with new caviar bar

    Real Estate Deal Watch - Crain's New York Business 22 Sep 2015 | 10:00 pm

    Upper West Side - A 14-year-old caviar purveyor is expanding. Olma Caviar Boutique & Bar, which operates a location at Todd English’s Plaza Hotel Food Hall, has signed on for its first freestanding...

    To view the full story, click the title link.

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