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  • Keller Williams profit gets a boost from higher sales volume

    The Real Deal New York 13 Aug 2018 | 2:30 pm

    Keller Williams franchises saw higher profits as agents closed more deals. In the second quarter, the brokerage reported $98.3 billion in sales volume in the U.S. and Canada — up 8.7 percent from a year earlier. Franchisee owner profit rose 1.3 percent year over year to $70.3 million, according to a release from the company. The growth comes as the firm has been expanding its artificial intelligence-based assistant, Kelle. Through the service, agents can access […]

  • Dalan Management recaps Midtown South office buildings in $54M deal

    The Real Deal New York 13 Aug 2018 | 2:00 pm

    Dalan Management recapitalized a pair of Midtown South office buildings in a deal that values the properties at more than $54 million. Boston-based Marcus Partners paid $54.5 million to buy the adjacent 11-story buildings at 10-12 East 33rd Street from Dalan Management, a spokesperson for the buyer told The Real Deal. Following the sale, Dalan retains a minority stake in the buildings with an undisclosed equity investment in the joint venture with Marcus Partners. Marcus […]

  • Wharton Properties lands $50M loan to refi Garment District property

    The Real Deal New York 13 Aug 2018 | 1:15 pm

    Jeff Sutton‘s Wharton Properties just landed $50 million to refinance one of its retail properties in the Garment District. Germany-based Landesbank Hessen-Thüringen, also known as Heleba, provided the financing package, which includes $49.4 million in existing loans and $562,500 in new debt, according to documents filed with the city’s Department of Finance on Monday. The financing is for 29 West 34th Street, a three-story retail building whose tenants include Aldo and Geox. Sutton didn’t immediately […]

  • Will real estate agents become obsolete?

    BrokerPulse 13 Aug 2018 | 12:58 pm

    (Behance)

    (NEW YORK, NY) — The rise of technology in the real estate industry questions the importance of real estate agents.

    Apps such as Zillow and Trulia give prospective homebuyers the ability to browse through listings at their own convenience without the help of an agent.

    Not only can homebuyers search for homes on their own, but online mortgage lenders give them the option to get pre-qualified for a loan long before they’ve found the perfect place.

    While homebuyers are doing most of the work themselves, agents are still called in to finalize the transaction and collect 3% commission. A call that is causing many first-time homebuyers to question the importance of including an agent at all.

    The importance of an agent

    Yes, technology has transformed the home search process. Homebuyers can search for new listings and property information all in the comfort of their own home, bed, car, etc.

    But that’s just about all they can do. Once a buyer has found their perfect home, they need to call an agent to show them the place, negotiate with the seller, and submit an offer.

    Evan Harney, president and CEO at PadXchange, refers to this as getting to the “one-yard line.”

    The time that the agent is involved in the process is significantly shorter.

    “With all of the information that’s out there, buyers can get the process pretty far down the field on their own,” Harney said. “Then they call in the agent to write up the offer, and the agent basically pushes them over the goal line and gets their commission.”

    Harney decided to create a solution that allows homebuyers to finalize the process on their own.

    Along with Navy veteran, Josh Hinkson, the two created PadXchange, a digital platform that lets buyers set up showings with available agents in the area. Not only that, but once buyers have found their perfect home, the platform gives them the tools to write an offer, submit it, and track their closing process. Once the transaction is over, they get a commission refund of around 1.25% of the sales price. A number that is significantly less than the traditional 2.5 to 3% commission rate.

    However, according to some, agents are crucial to the home buying process now more than ever.

    Nick Bailey, president and CEO of Century 21 Real Estate, believes that the initial search is only a small portion of the home buying process.

    “Today, consumers need access to see properties and then help analyzing the data and negotiating through a process that is the most complex it’s ever been,” Bailey said.

    While the internet has allowed homebuyers to become more knowledgeable of the market, a skilled and experienced agent is crucial when it comes to saving time, staying organized, and negotiating the best deals.

    Hinkson believes that this real estate technology revolution does not take agents out of the equation, but instead allows agents to do their business better and more strategically.

    The amount of technology at the doorstep of the real estate industry offers an endless amount of possibilities for agents.

    Technology, if used to their advantage, can allow agents to be more effective. They can target prospective buyers in less time, provide more data to clients, and better understand specific markets.

    And, while agents are having to do away with traditional real estate mechanisms, there are some things that will always be needed in the home buying process such as negotiating skills, experience, and the desire to find perfect homes at perfect prices.

  • Ask Real Estate: That Apartment You Rented? It’s Not Available. Take This One Instead.

    NYT > Real Estate 13 Aug 2018 | 9:12 am

    What can renters do when it turns out that their new home is legally uninhabitable?

  • Shopping Guide: Shopping for Sofa Beds

    NYT > Real Estate 13 Aug 2018 | 2:00 am

    Sleeper sofas are as useful in cramped apartments as they are in large homes. And the new ones not only look good — they’re comfortable, too.

  • What's Selling Now: Homes That Sold for Around $1,500,000

    NYT > Real Estate 12 Aug 2018 | 2:00 am

    Recent residential sales in New York City and the region.

  • Conway Capital team claims hoops title in Cushman & Wakefield charity tourney

    Real Estate Weekly 10 Aug 2018 | 11:40 am

    The Conway Capital team claimed the crown in Cushman & Wakefield’s annual charity basketball tournament.

    From left, Morris Dweck, Maurice Schmool and Abe Cohen of Conway Capital.

    Abe Cohen of Conway Capital, Morris Dweck of ABS Altman Warwick and Maurice Schmool of Avenue Property Group beat the 24-team field in the third installment of the Glenn Markman Legacy Tournament on Wednesday, August 8.

    Conway, Dweck and Schmool defeated the Cushman & Wakefield team of Jason Greenstone, Michael O’Neill, Bryan Hurley and Ian Lerner to clinch the title.

    Hosted by Cushman & Wakefield Future Leaders, the tournament pays homage to the company’s late vice chairman, Glenn Markman, who died in 2014 of cancer at the age of 52. Proceeds from the event benefit the Glenn Markman Foundation, which supports arts and athletic programs for kids.

    Participating teams were made up of real estate professionals in and around New York City. The tournament took place at Basketball City at 299 South Street in Manhattan.

    The post Conway Capital team claims hoops title in Cushman & Wakefield charity tourney appeared first on Real Estate Weekly.

  • NEW DEVELOPMENTS: Sales launch at Brooklyn Grove

    Real Estate Weekly 10 Aug 2018 | 11:08 am

    ● ADAM AMERICA / SLATE PROPERTY
    Sales underway at Brooklyn Grove

    The Brooklyn Grove, a new 27-story, 184-residence condominium at 10 Nevins Street in Downtown Brooklyn, has launched sales.

    Developed by Adam America Real Estate and Slate Property Group, with interiors by the ODA New York, the building has a glazed brick exterior and large windows with custom metal surrounds.

    Sightlines from Nevins Street to Grove Place will envelop a double-height (21 ft.) lobby and enable dual entrances into the building. The lobby will have a wooden beam ceiling and hand-plastered finished walls with slatted wood accents.

    Kitchens will feature custom rift oak cabinetry with antique brass hardware designed exclusively for the building by ODA.

    A dual-level amenity area will include a 40 ft. indoor pool illuminated by a large skylight.

    A residents lounge with 22 ft. and a gas fireplace will be surrounded by floor-to-ceiling glass and have a pool table and screening area.

    There will be a private dining room, fitness center, exercise studio, playroom and 24-hour concierge.

    A rooftop lounge will offer separate lounging and dining areas, barbecue grills, and a pergola.

    A pet spa, package storage, and bicycle storage are also planned,.

    The Brooklyn Grove features 184 studio through three-bedroom residences. Currently, prices range from $575,000 studios to three-bedroom homes starting at $2.45 million.

    Brendan Aguayo, senior vice president, Halstead Property Development Marketing, is leading marketing and sales.

    ● CBKS / PLANET PARTNERS
    Low-rise luxury in LIC

    Sales have launched at Corte, a new luxury condominium at 21-30 44th Drive in Long Island City’s Court Square neighborhood.

    21-30 44th Drive in Long Island City.

    As a nod to the project’s Argentinian roots and Buenos Aires’ signature low-rise buildings, the 85-unit building stands just eight stories high and extends 250 ft. long.

    Designed with expansive terraces and floor-to-ceiling windows, residents at Corte have panoramic, unobstructed Manhattan views.

    Studio- to three-bedroom homes range in price from the mid-$500,000s to $3million and move-ins will begin in summer 2019.

    Modern Spaces will exclusively handle marketing and sales for Corte.

    The mixed-use project features 16,000 s/f of ground-floor retail space being marketed by Winick Realty Group .

    Planet Partners, a South American real estate development company, purchased the site and originated the project, setting into motion a joint venture with SK Development, CB Developers and Ironstate Development (CBSK Ironstate) to co-develop a modern project with a low-rise design, a departure from the area’s typical high-rise buildings.

    Tristan Dieguez and Axel Fridman of Argentinian-based firm, Dieguez Fridman Arquitectos & Asociados, and New York-based firm, Beyer Blinder Belle collaborated on the design.

    The building has a fitness center and resident’s lounge which opens to an outdoor courtyard. A shared roof deck extends the entire length of the building and features landscaped gardens, private cabanas for sale, a Bocce Ball court, outdoor showers and BBQ grilling stations.

    ● FLATIRON REA / DUKE EQUITIES / MJM
    Serhant selling Wʼburg boutique

    Ryan Serhant is about to hit the market with The Rowan, a new Williamsburg condominium a block from the waterfront.

    Developed by Flatiron Real Estate Advisors, Duke Equities and MJM, the 13-unit building includes two penthouses, one – to three-bedroom layouts with private outdoor space and priced from $1.16 million.

    Amenities include a virtual doorman and video intercom, package room, bicycle storage, keyless entry and private storage.

    Units have Schuco Casement triple pane windows, exposed concrete ceilings, multi-zone heating and cooling, LED lighting, washers/dryers and open-concept kitchens

    The post NEW DEVELOPMENTS: Sales launch at Brooklyn Grove appeared first on Real Estate Weekly.

  • Chamberlainʼs uniform strokes suit different folks

    Real Estate Weekly 10 Aug 2018 | 10:57 am

    In a neighborhood filled with synagogues, yeshivas and kosher restaurants, practicing Jewish Upper West Siders can still face challenges in their home during Shabbat.

    Whether it’s using buttons on an elevator or opening the refrigerator, observant Jews are forced to find ways around daily activities during their day of rest.

    But more residential buildings in the Upper West Side now come equipped with infrastructure that makes it easier to remain devout while still living comfortably.

    The Chamberlain offers luxury living for those who observe the Sabbath as well as those who don’t.

    Steps away from Upper West Side’s Broadway, The Chamberlain sits at 269 West 87th Street. Its beige brick and masonry façade attempts to match the nearby residential vibe and the bronze-finished double doors invite residents back home and into its two-story lobby. The 17-story luxury building offers 39 units of two- to five-bedroom apartments and was developed by Simon Baron Development, designed by FXFOWLE with interiors from Alexandra Champalimaud.

    “We came to the conclusion very quickly that we wanted something very contextual,” Andrew Till, chief operating officer at Simon Baron, said. “It’s brand new but we really wanted it to blend in because we think that’s what the Upper West Side buyer is looking for.”

    The lobby, with a 24-hour concierge and cold storage, also leads into the building’s nearby amenities. Descending the bronze staircase in the back leads tenants into The Chamberlain’s two levels of recreational and leisure spaces.

    A garden courtyard is the centerpiece of the space with a nearby living green wall whose plantings will be rotated to match the season. Connected by the green wall, the fitness center is loaded with state-of-the-art equipment. For residents looking for more than just fitness, the amenities also include a sports court that can be used for basketball, soccer and rock climbing.

    The sports court can also be reconfigured into a mini movie theater with its own A/V system and retractable screen.
    And for those looking for some peace and quiet, the area also has a library lounge with a fireplace and a separate children’s playroom and pantry.

    “The great thing about our amenities is you are in the cellar, but you’ve got great natural light coming in so you don’t really feel like you’re in a cellar,” Till said.

    What really sets The Chamberlain apart from other Upper West Side Buildings is the apartments’ ability to adapt to Shabbat immediately. Tenants who lead an observant lifestyle can still make use of everything from the appliances to the apartment’s design.

    The building has been designed to ensure every resident can enjoy its luxuries and amenities, regardless of their religion.

    According to Till, the smart refrigerators can be configured with Shabbat mode where it won’t activate its lights and there’s room in the apartments for two dishwashers to facilitate a kosher lifestyle.

    Residents are also able to have everything hooked up to an A/V system where they can configure the lights, stereo, blinds and security to turn on and off automatically.

    “We know a lot of the community here is from the Orthodox Jewish community, so we put a lot of infrastructure into the building that can allow for people who need it,” Till said.

    The developer added that it was their goal to make their buyers’ lives as effortless as possible. To ensure their Shabbat accommodations fit the bill, they hired an A/V expert and Kosher consultants to guide them in their design.

    “At the Chamberlain, we incorporated Shabbat technology to ensure this community has the ability to enjoy the perks and amenities of living in a luxury building without complication,” Till said.

    Two duplex townhouses sit at the bottom of the building and offer 750 s/f private terraces that overlook the garden courtyard. Two penthouses on the top floors offer double-door Juliet balconies, walls of windows, and an oversized foyer for art displays. The highest penthouse comes with a spiral staircase that leads straight to the roof.

    The other residences are designed with corner window bays, Juliet balconies, kitchen islands and marble bathrooms with soaking tubs.

    Two-bedrooms start at $2.4 million, the three-bedrooms will cost at least $3.55 million, the four-bedrooms start at $4.84 million and the duplex townhouses start at $6.8 million. Till said that the building is expected to be complete by the end of the year. But he added that the interest has been booming as there aren’t many new developments on the Upper West Side for families looking to settle down, especially those that are Shabbos-friendly.

    “This is not a building where we will have many investors buying,” Till said. “People are buying here to live here, to settle with their families and we want to provide whatever we can in terms of amenities and features.”

    The post Chamberlainʼs uniform strokes suit different folks appeared first on Real Estate Weekly.

  • 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.

  • Selena Gomez Can’t Find Anyone to Keep Their Hands on Her Texas Home

    Real Estate – Observer 9 Aug 2018 | 10:13 am

    She's discounted the mansion for a third time.

  • New York City’s role in the real estate technology revolution

    BrokerPulse 9 Aug 2018 | 9:14 am

    NYC From Top (Hugo Ceneviva)

    (NEW YORK, NY) — New York City is a prime location for real estate tech companies.

    The potential for tech-driven innovation is beginning to disrupt the old patterns of the real estate industry. Firms and agents are constantly looking for new technology that will make them stand out.

    Why are tech companies targeting real estate?

    Apps such as Airbnb and Zillow are multi-million dollar companies that have profited by improving the experience of buyers, sellers, renters, and homeowners. Tech startups are taking to the market with apps that range from helping buyers find the perfect home to opening doors and turnstiles with the click of a button.

    Tech firms are bringing the real estate industry to the fingertips of millions. Out-of-date processes are exactly that, outdated. We live in a world where convenience sells, where properties are marketed and sold on digital platforms, and where prospective homebuyers look to the internet to find information on listings.

    Why New York City?

    New York is becoming the global leader in this real estate technology era and is home to one of the world’s largest real estate investment markets.

    New York’s growing office market has given companies the opportunity to test new technologies. In fact, according to The Atlantic, among metro areas worldwide, New York has the fourth highest levels of venture capital investment. New York is also a top global commercial destination and is one of the four “Super Cities” for commercial real estate investment.

    The sheer amount of tech talent that lies within New York City will soon put it ahead of potential competitors.

  • Joshua Kushner is an entrepreneur, a brother-in-law to Ivanka Trump, and Karlie Kloss’ new fiancé

    BrokerPulse 8 Aug 2018 | 1:02 pm

    (NEW YORK, NY) — Joshua Kushner, the newly engaged tech entrepreneur, flooded the media in late July when the news of his engagement with Karlie Kloss became public.

    Who is Joshua Kushner?

    Though Kushner lives a low-profile lifestyle, he has been transforming both the tech and real estate industries for years.

    At just 33 years old, Joshua Kushner has built an empire. Kushner founded Thrive Capital, a venture capital investment firm, and invested money in successful technology companies such as Instagram, Instacart, and Slack.

    Kushner has an approach to the modern market that is both innovative and refreshing. In 2012 he co-founded Oscar Health, an insurance company aimed at millennials. He told reporters, “We’re trying to build something that’s going to turn the industry on its head,” and that’s exactly what the company did.

    Mario Schlosser, right, chief executive of Oscar Health, and Joshua Kushner, a founder. The company was started in 2012, just in time to offer plans to people buying insurance under the new federal health care law. Credit (NYT)

    Joshua Kushner’s list of successes doesn’t stop there. In 2015 he decided to bring his tech skills to the real estate industry. Alongside his brother, Jared Kushner, the two launched Cadre, a technology company designed to help clients invest in real estate. Cadre’s cutting-edge technology offers unique investment opportunities to investors looking for large commercial real estate properties, single-handedly gearing the industry toward a more technology-driven market.

    Cadre Investor Round Table 2018.

    A post shared by Cadre Squadre (@cadresquadre) on

    A post shared by Joshua Kushner (@joshuakushner) on

    Amongst his many titles of success, Kushner is about to have a new, more romantic one. He will soon be the husband of supermodel and entrepreneur, Karlie Kloss. The couple took to Instagram on July 24th to announce their engagement which appears to have taken place a few weeks prior during a romantic getaway to upstate New York.


    Friends, family, and future in-laws are overjoyed with the news. Ivanka Trump, Jared Kushner’s wife, expressed her congratulations and even called Kloss her “sister” on Instagram. Though the couple has yet to announce wedding plans, Kloss has already received a warm welcome into the family.

  • Brad Pitt and Angelina Jolie’s Divorce Saga Now Includes an $8 Million Home Loan

    Real Estate – Observer 8 Aug 2018 | 12:51 pm

    The Brangelina battle isn't over yet.

  • 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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