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  • Brooklyn rents hit a record high in July: Elliman report

    The Real Deal New York 15 Aug 2019 | 4:00 am

    Rents are rising while concessions are falling in Manhattan and Brooklyn, but the opposite is happening in Queens, according to  Douglas Elliman’s July report on the city’s rental market. Manhattan’s median rent increased by 5.7 percent year over year to hit $3,595, and Brooklyn’s median rent went up by 1.7 percent to hit $3,000, a new record for the borough. In Northwest Queens, however, median rents dropped 3.6 percent, compared to last July, to hit […]

  • Government will back more condo loans amid cooling housing market

    The Real Deal New York 14 Aug 2019 | 3:00 pm

    Amid a cooling housing market and growing concerns about a recession, the Trump administration is making it easier for first-time condo buyers to get a government-backed mortgage. The Federal Housing Administration is backing more loans for those first-time buyers, according to the Wall Street Journal. FHA loans require significantly lower credit standards than conventional loans and only require a 3.5 percent down payment. The FHA predicts it could insure as many as 60,000 additional condo […]

  • Apple on the hunt for enormous Manhattan office space

    The Real Deal New York 14 Aug 2019 | 2:59 pm

    Apple has joined tech giants like Facebook and Amazon in the competition to lock up prime blocks of large Manhattan office space. The Cupertino, California-based tech company is looking around Manhattan for somewhere between 200,000 and 500,000 square feet for a new office, sources told The Real Deal. One source said the tech firm could take as much as 750,000 square feet. Apple’s checked out the usual suspects of properties on the short list for […]

  • Shake Shack to open another location in West Midtown

    Real Estate Weekly 14 Aug 2019 | 11:59 am

    By Sabina Mollot

    Shake Shack will soon be opening its 34th location in the city, having signed a 2,000 s/f, 15-year lease for a Midtown West location on the ground floor of 1700 Broadway.

    Along with the usual items on the menu such as the ShackBurger, crinkle-cut fries and shakes, the burger chain said it would also be offering a selection of frozen custard concretes in collaboration with local food purveyors.

    Since the original Shake Shack stand opened in Madison Square Park in 2004, the company has expanded to more than 230 locations, including 70 in other countries including London, Hong Kong, Istanbul, Dubai, Philippines, Singapore, Mexico, Tokyo, Moscow and Seoul.

    Cushman & Wakefield’s Steven Soutendijk, Kenji Ota and Neil Seth represented the landlord, Rockpoint Group, in the Midtown West lease. Matthew Chmielecki and Preston Cannon from CBRE represented the Shake Shack.

    “The retail space at the corner of 53rd Street and Seventh Avenue will give Shake Shack tremendous presence, visibility and outdoor seating,” said Soutendijk. “With significant foot traffic from nearby office workers, tourists and residents, this location will be an unparalleled activation of vacant retail space and a previously-underutilized plaza area.”

    The last tenant to inhabit the space in the building was Coffee Bean & Tea Leaf. The building is also home to CBS Corporation, Gensler, and the Cardiovascular Research Foundation.

    Meanwhile, the property is also undergoing some renovations, including the opening of a 10,000 s/f amenity space designed by Fogarty Finger Architects. The “1700 Broadway Club” will feature a 2,200 s/f outdoor space on the 12th floor terrace. The club will feature a bar, a lounge area, and a variety of meeting and event spaces including a “Lifestyle Lab quiet workspace.” The club will be available to building tenants who sign up for a membership. Rockpoint and Rockhill Management, an affiliate of the owner, are also working with Fogarty Finger on a new lobby and have recently completed three floors of prebuilt office space with availabilities ranging from 6,500 to 13,500 s/f.

    The post Shake Shack to open another location in West Midtown appeared first on Real Estate Weekly.

  • Hackman buys film, TV studio

    Real Estate Weekly 14 Aug 2019 | 10:26 am

    Hackman Capital Partners announced that it has acquired, through an affiliated entity, The MBS Group a film and TV studio real estate and production services platform, for $650 million from global investment firm The Carlyle Group.

    MBS Media Campus, or Manhattan Beach Studios as it is commonly known, is a 22-acre, 587,000 s/f studio production facility located in Manhattan Beach, California. Hackman acquired the real estate asset in a joint-venture with an investment partnership led by Square Mile Capital Management.

    The post Hackman buys film, TV studio appeared first on Real Estate Weekly.

  • Thirty industrial buildings sold in NJ

    Real Estate Weekly 14 Aug 2019 | 10:25 am

    CBRE has announced the sale, via a joint venture structure, of a vast portfolio of properties comprised of 30 industrial buildings in New Jersey, totaling more than 1.3 million s/f. Colony Industrial acquired the portfolio, which is situated on nearly 83-acres of land, for an undisclosed sale price. Also included in the transaction were three development sites located in Carteret and West Caldwell, New Jersey and totaling 46-acres.

    Brian Fiumara, Michael Hines, Brad Ruppel and Lauren Dawicki of CBRE Capital Markets’ Institutional Properties team, in partnership with CBRE Vice Chairman Thomas Monahan, negotiated the multi-faceted transaction on behalf of Hampshire Real Estate Companies.

    The assets are located within the Northern New Jersey industrial market. Currently 99 percent occupied by a diverse tenant roster, the portfolio provides a continuous cash flow.

    “This portfolio offered Colony Industrial the very rare opportunity to acquire a critical mass of high-quality industrial assets and a future development pipeline in a joint venture structure with Hampshire Real Estate Companies, one of the most respected developers in New Jersey,” said Fiumara, Executive Vice President, CBRE. “This deal was a win-win for both parties and we are proud of the outstanding results our team was able to deliver.”

    Among the properties in the portfolio are 41 Slater Drive, Elmwood Park, 700 Blair Road, Carteret and 231-232 Main Street, Little Falls, New Jersey.

    The post Thirty industrial buildings sold in NJ appeared first on Real Estate Weekly.

  • Zayn Malik’s SoHo penthouse is on the market for $10.8 million

    BrokerPulse 14 Aug 2019 | 9:39 am

    (NEW YORK, NY) – Former One Direction member Zayn Malik has recently listed his ‘Bachelor Pad’ after owning it for a little under a year and a half. The SoHo penthouse includes 4 bedrooms, 4 bathrooms, with 3,600 square feet.

    It is the perfect location for a bachelor, making Malik’s decision questionable, especially after his recent split with Gigi Hadid.  According to the listing website, penthouse A is the most spacious residence at 63 Greene Street, 12ft barrel-vaulted ceilings, a custom steel staircase, and a private terrace makes this a unique location. 

    The penthouse’ open layout gives access to four sun-flooded bedrooms, three of which have their own bathrooms. Also included in the unique space are exposed brick walls, large windows, all with an industrial-chic vibe. 

    There is no doubt that penthouse A will fulfill your luxury living desires, with sub-zero stainless steel appliances, Bertazzoni 6- burner gas range and double oven, a sleek kitchen island, radiant-heated bathroom floors, Lefroy Brooks fixtures, and Miele washer and dryer. Once serving as the 1877 Silk-Industry Showroom, the cast-iron columns and wide- plank hardwood floors represent its historic past. 

     63 Greene Street sits in the heart of SoHo’s Cast Iron Historic District, surrounded by world-class retailers and fine dining. It offers a part-time doorman stationed at a newly renovated lobby decorated with mosaic marble and a bespoke chandelier, also included in the building are a package room, bicycle storage, a common rooftop, and outdoor dining area. 

    The residence is currently listed with Amanda Hudson by Dallien Realty, who leads the firms top producing agent team known as the Hudson Team. Amanda and the Hudson team specialize as brokers in downtown Manhattan.  

      

  • Neuroscience as a Key Role in Branding and Marketing

    BrokerPulse 13 Aug 2019 | 10:08 am

    (NEW YORK, NY) — When you think of neuroscience you may think of how your brain allows you to function on a day to day basis. When studying neuroscience, research may be done on all factors of the brain including cellular, molecular, physiology, human behavior, and cognition. 

    Much research has been done on the way your brain coincides with the way you make marketing and branding decisions. The research is known as neuromarketing, which uses functional Magnetic Resonance Imaging to study how the brain responses to marketing stimuli.       According to ‘ Neuromarketing’ by Roger Dooley, neuromarketing includes “the direct the use of brain imaging, scanning, or other brain activity measurement technology to measure a subject’s response to specific  products, packaging, advertising, or other marketing elements.” 

    Already companies have included neuromarketing to create products, services, logos, and campaigns to appeal to a specific audience. 

    Now, what is the exact role your brain plays in consumer decision making? 

    Products & Packaging:

    Since neuromarketing has been incorporated into brand development and marketing more and more companies have changed the way they develop and package products.

    Packaging:

    Before Frito-Lay incorporated neuroimaging their packaging included bold colors & shiny packaging. The company conducted customer studies based on color, text, and imagery, the customers were shown original packaging (shiny) and matte packaging. The responses were then recorded as positive, neutral, or negative. When they were shown the shiny packaging their responses were negative but didn’t show negative responses to the matte packaging, after this study Frito-Lay began to produce new matte packaging. 

    Color Psychology:
    Companies such as Coca Cola and McDonald’s are perfect examples of users of neuromarketing Color is a powerful tool when it comes to your branding decisions, bold colors such as red can provoke hunger, based on research on color psychology red brings warmth, comfort, everything you want to feel when you’re eating. By incorporating visual neuroscience you are more likely to trigger emotional responses from your audience. 

    Brand Selection:

    You don’t want just coffee, you prefer Starbucks. Think about it. The symbolism of holding your Starbucks coffee has more of an impact compared to even drinking another brand. You can tell yourself its the specific flavor or post-rationalise it in a million ways but the reason why you go for one brand over another is called brand salience. Brand salience is the trigger in your brain that, when it comes to the purchase moment, your brain says “buy this.” 

    The Role of the Brain in Neuromarketing 

    Neuroscience is a field of research which studies the cognitive, and affective responses of human beings. Thus, it focuses on figuring out how the brain responds to certain stimuli. For “neuromarketing,” the focus in on finding out how the brain responds to certain marketing stimuli. When creating a marketing plan or developing a strategy, the main goal must be to improve the customer experience while boosting brand recognition. Already, companies all the way from Google, to Disney and CBS have invested in neuromarketing. The world around us is changing dramatically. The advances in data analytics and technology have introduced a brand new world for brands. There is more content online than ever before, meaning brands have to work infinitely harder to capture the attention of their target audience. Use neuromarketing to ask your company to consider the research, findings and scientific studies before deciding on a strategy to influence customer buying decisions. 

  • The “Concert Series”: The Creative and Dynamic Way Kim Hastie Gained More Business and Listings

    BrokerPulse 8 Aug 2019 | 9:49 am

    Photo By Halstead

    (NEW YORK, NY) — One of the most successful brokers in New York City, Hastie proves that being active in social media and creating real estate videos brings in the business.

    Since January 2017, she has done 12 “concert series” real estate listing videos. Her videos feature young musicians and artists playing music and trying to make a living through their artistic passions as the property gets showcased through video.

    “They were extremely enthusiastic. They were happy because they do what they love, but they get paid for it,” Hastie said.

    Hastie has been a realtor with Halstead Real Estate for over 10 years and is consistently a top company producer.

    Her videos have gotten thousands of hits, and she has won listings she would usually have to compete for by doing these successful videos.

    “I had a buyer, who saw the concert series, which is why he came to the open house. I think it’s interesting,” she said.

    One of the videos, for a property in Tribeca, was sold soon after the video was released, and Hastie was awarded an annual award for Most Creative Video.

    Part of her success if due to her passion for the symphony and the opera, which her parents would often take her to go see ever since was little. She spends a lot of time thinking of which song would fit a certain property. She recalls expertly choosing the “A Train” by Duke Ellington to showcase a one-story in Hudson Yards.

    Being more interactive in the real estate world, and using social media, is statistically known to boost real estate sales. Realtors who post videos on Instagram, Facebook, and other forms of social media have been known to reap the benefits, like Kim Hastie and her Concert Series real estate productions.

     

  • Living In: Asbury Park, N.J.: A Seaside Community Reborn

    NYT > Real Estate 15 May 2019 | 2:01 am

    The once-desolate oceanfront resort is being restored and rebuilt. But some worry that threatens the quirky energy that made it unique.

  • Square Feet: Visit Times Square? These Projects Want You to Experience It

    NYT > Real Estate 14 May 2019 | 4:36 pm

    TSX Broadway, which will a feature a theater, a hotel, a shopping center and an outdoor stage, is the latest effort by developers to lure visitors.

  • Living In ... Asbury Park, N.J.

    NYT > Real Estate 14 May 2019 | 12:48 pm

    The once-desolate oceanfront resort is being restored and rebuilt. But some worry that threatens the quirky energy that made the city unique.

  • Anna Faris Has Sold the Hollywood Hills Retreat She Shared With Chris Pratt

    Real Estate – Observer 14 Aug 2018 | 4:01 pm

    But the home didn't bring in quite the haul she was hoping for.

  • Joe Jonas Doesn’t Want Cake by His Sherman Oaks House

    Real Estate – Observer 14 Aug 2018 | 9:14 am

    He's listing the home for $4.25 million.

  • Summer Aboard a Boat: The Cheaper Version of a Vacation Home With Way Better Views

    Real Estate – Observer 10 Aug 2018 | 3:30 am

    Tired of your current location? With a boat as a summer home you can pick up and sail to Martha's Vineyard, Montauk or Maine.

  • 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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