Month: June 2019

South Village Historic District

Plan for extended South Village Historic District gets mixed reception at hearing Council member Corey Johnson has made designation a bartering chip in St. John’s redevelopment

Landmarks Preservation Commission s Meenakshi Srinivasan and Sullivan Street

The Landmarks Preservation Commission got a spirited debate Tuesday on a proposal to complete the third phase of the South Village Historic District.

Dozens of community members on both sides of the issue showed up to the commission’s meeting to voice their opinions on the proposal t爱上海同城 爱上海o landmark what would be a 157-building district running south from West Houston Street a little more than three blocks to Watts Street, and from Thompson Street on its eastern edge to Sixth Avenue on the west.

It would be the third and final component of the proposal started in the mid-2000s to preserve tenement buildings and historic storefronts in a neighborhood that advocates say was central in the late 19th century and early 20th century for Italian immigrants.

The commission had previously approved the Greenwich Village Historic District Extension II and a truncated South Village Historic District.

Preservationists said they were concerned about the potential of new development in th爱上海同城论坛 爱上海同城e neighborhood, particularly by Jared Kushner, who’s an active 上海千花网交友 上海千花网论坛buyer in the area, Curbed reported. They also pointed to Donald Trump’s long-troubled Trump Soho condo and hotel, which is out of character with the neighborhood.

Supporters included M[……]

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Midtown East

Manhattan BP Brewer recommends lowering minimum price of Midtown East air rights REBNY also felt floor price of $393 psf was too high

Gail Brewer and Midtown East

It s rare that the Manhattan Borough President and the Real Estate Board of New York see eye-to-eye. But the two seem to share at least some common ground when it comes to the proposed price of landmarked air rights in Midtown East. Both agree that the minimum prices should be lower (if they exist at all).

Gail Brewer recommended on Thursday — based on estimations by Cushman Wakefield — that the city lower the minimum price set for air rights to $250 per square foot, rather than 爱上海同城对对碰 爱上海同城论坛the current $393.

It is essential that we err, if a上海千花网论坛 上海千花网t all, on the side that will not choke off the transactions upon which a significant pillar of this proposal is based and if the City cannot come up with a re-evaluation that inspires more confidence it may have to search for another mechanism to address the transparency and predictability concerns of the Public Realm Improvement Fund, Brewer wrote.

The recommendation was included in her official comments on the proposal to rezone Midtown East, which is expected to add 6.5 million square feet of new office space to the district in the next two decades. REBNY and owners of the 3.6 million square f上海龙凤论坛 新上海贵族宝贝论坛eet of air rights have been very vocal in their concern that setting a floor price might discourage deals. The city has proposed taki上海夜网 阿爱上海同城ng $78.60 per square foot from any of th[……]

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Bank Ozarks

Bank of Ozarks sheds a layer of regulation Arkansas-based lender removes holding-company status,上海千花网 爱上海同城对对碰 Fed oversight

George Gleason

Bank of the Ozarks in June did away with its holding-company structure as a way to save costs by removing oversight by the Federal Reserve.

And while other banks have the same structure上海千花社区 上海千花网交友, some say the上海千花网交友 上海千花网论坛 institutions could be going back to the days of “regulatory arbitrage” seen before the financial crisis when banks sought more lenient regulators, the Wall Street Journal reported.

“It might be arbitrage,” said Karen Shaw Petrou, managing partner of the policy-analysis firm Federal Financial Analytics Inc. “But it’s also a huge boost to their challenged earnings.”

Bank of the Ozarks and other lenders are still regulated by the FDIC, which they said is not a lenien上海龙凤论坛sh1f 上海龙凤论坛t regulator.

“We didn’t really need to be regulated by both,” Bank of the Ozarks CEO George Gleason said.

The Arkansas-based bank, with about $21 billion in assets, is the largest company in recent years to shed its holding-company structure, which is used b上海夜网 阿爱上海同城y about 80 percent of banks and thrifts. Signature Bank is another that doesn’t have a holding company.

Bank of the Ozarks is one of the most active lenders in New York City, especially in the risky construction-financing space so many competitors have pulled back from. In July, company executive Dan Thomas, who headed the real estate lending group, abruptly resigned. But that hasn t stopped the firm from providing[……]

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685 First Avenue

Sheldon Solow targeting $551M in sales at 685 First Avenue 148 condos can now go to market

Sheldon Solow and renderings of 685 First Avenue (Credit: Richard Meier Partners Architects)

After going into contract for the land nearly two d新爱上海同城对对碰论坛 上海同城对对碰交友社区ecades ago, Solow Properties can now爱上海同城对对碰 爱上海同城论坛 launch sales for condominiums at its 685 First Avenue skyscraper, records with the New York新爱上海同城对对碰论坛 上海同城对对碰交友社区 State Attorney General s office show.

The AG s real estate finance bureau accepted the developer s offering plan for 148 for-sale apartments at the tower. The total projected sales price for the units is $551 million, or $3.7 million on average.

The 42-story building, wh上海贵族宝贝交流区 上海贵族宝贝论坛ich topped out last fall, is the tallest designed by architect Richard Meier in New York City. In addition to 148 condos, 685 First Avenue will hold 408 re上海贵族宝贝交流区 上海贵族宝贝论坛ntal units. Ground floor retail is also planned.

The 89-year-old Sheldon Solow is joined by his son, Stefan Soloviev, as the official sponsors of the condo plan.

A spokesperson for Solow did not immediately return a request for comment. The company has not yet announced an official sales starting date.

In 2010, Solow sold a separate development site along First Avenue to JDS Development Group for $172 million. JDS and Largo have since developed the American Copper Buildings there.

Currently, Solow is at work trying to boot retail tenants on West 57th Street, where he plans a hotel and condo tower across the street from his company headquarters at the Solow[……]

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How venture

How venture-backed firms have put a bull s-eye on the resi listings management space Venture-backed firms like Perchwell and Nestio have put a bull’s-eye on the listings management space, putting pressure on established players

(Illustration by Nate Kitch)

From the March issue: It might sound unglamorous, but back-end listing systems for residential firms are the startup world’s latest meal ticket.

Long the domain of two companies in New York — RealPlus and On-Line Residential —the space is being upended by new tech startups with venture money to burn.

“In the past, a listings platform was enough,” said Michael Gabriel, founder of Gabriels Technology Solutions, which works with real estate firms. “Today to be competitive, a solution has to be much more.”

That shifting landscape is the result of several factors — from better access to data to advances in technology. While numbers are hard to come by, the space is clear上海千花社区 上海千花网交友ly a lucrative one.

For the vendors — most of which make money by selling subscriptions to their services —the financial opportunity is big. And they are aggressively trying to lock in clients by touting their sophisticated analytics and slick mobile apps. All of this, they claim, will boost agents’ business in a competitive market.

And they are already making waves.

In February, RealPlus suffered a blow when a major client — Sotheby’s International Realty — decamped for Perchwell, a year-old rival.

The shakeup came less than a year after the Real Estate Board of[……]

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China Residential Property Market

China s biggest developer threatens firings, fines unless sales are made If resi projects aren’t sold with爱上海龙凤419桑拿 上海龙凤论坛sh1fin seven months, Country Garden Holdings’ project heads will be fired, according to internal document.

Country Garden Holdings vice chairman Yang Huiyan, the richest woman in real estate and China, is in charge of the爱上海 爱上海同城手机版 department that released the announcement of firings, fines and rewards. (Credit: Pixabay, Nick Youngson CC BY-上海贵族宝贝论坛 上海贵族宝贝SA 3.0)

Country Garden Holdings is trying to fight looming housing market regulations with threats and incentives.

As Chinese authorities crackdown on property speculation, which analysts predict will lead to less sales in 2018, the developer told its 4,000 staff to make sales happen or risk losing their jobs, according to an internal document obtained by Bloomberg.

If homes are not sold within seven months of the land purchase, projects heads will be fired; if no sales are made within five months, they will be fined. On the other hand, if the sales are made within three months, the staff will receive a bonus equivalent to almost $32,000.

The reason behind the incentive package is fierce competition, according to Country Garden s chairman, Yeung Kwok Keung. The document also advised staff to submit project plans immediately following the land purchase to exped爱上海同城对对碰 爱上海同城论坛ite development.

It s also likely that, if sales are made quickly, the developer may be able to side-step changing rules related to buying homes, which authorities a[……]

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Rudin Management

Rudin Management closes $550M refi at
345 Park Avenue Midtown East office tower is home to Blackstone, National Football League

Bill Rudin and 345 Park Avenue

Bill Rudin s Rudin Management refinanced the debt on 34上海千花社区 上海千花网交友5 Park Avenue in a $550 million deal with Prudential Real Estate and the New York State Tea新上海贵族宝贝论坛 上海贵族宝贝交流区chers Retirement System, rec上海同城对对碰交友社区 上海夜网论坛ords filed with the city Monday show.

The loan package for the 上海贵族宝贝 上海千花网龙凤论坛office tower includes a new $179 million mortgage, and the deal replaces previous refinancings with Prudential in 2010 上海千花网 爱上海同城对对碰and 2014, filings show. Rudin did not respond to a request for comment.

The Rudin family built the 634-foot-tall 345 Park in the late 1960s. It s now the headquarters for major companies like Blackstone Group, which increased its floor count at the address earlier this month, and the National Football League.

Tags: Bill Rudin, Real Estate Finance, refinancing, Rudin Management
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Mardi Gras

Mardi Gras – aka selling season – hits New Orleans New short-term renta上海千花网 爱上海同城对对碰l legislation has hit the condo market hard in the French Quarter

(Credit: Getty, iStock)

Carnival season in New Orleans is here, which means it s selling season for real estate agents.

But short-term rental regulations have created a glut in上海千花网龙凤论坛 上海千花社区 the French Quarter’s condo market developed, experts told the Financial Times. Legislation banning whole-home rentals in most of the French Quarter “really screwed up” the condo market there, Patrick Knudson, br上海夜网论坛 上海夜网oker at Dorian Bennett Sotheby’s In阿爱上海同城 阿拉爱上海同城ternational Realty, said.

As a result, price reductions of 5 to 10 percent have become common in the area. Eleanor Farnsworth, broker at Gardner Realtors, said that the 上海贵族宝贝 上海千花网龙凤论坛average number of days on the market in the French Quarter is 195.

The priciest listing in the neighborhood is an eight-bedroom home with a courtyard pool and parking for 15 cars, on the market with Gardner Realtors for $9.25 million.

Prices are rising elsewhere in the Big Easy, especially in the Warehouse and central business district where developers are completing new luxury projects, agents said. [FT] – Katherine Kallergis

Tags: Residential Real Estate Brickell Flatiron scores Fannie Mae approval and lowers depositsCondo development in this Arizona town is boomingTop Keller Williams agents want to stop sharing profit with defectorsOne Sotheby’s gains top producer from EWM’s Riley Smith Group
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Ventas REIT

Ventas’ investments in research facilities pay off as senior housing market stalls The Chicago-based REIT posted a strong Q1 despite falling occupancy a爱上海同城论坛 爱上海同城t its senior housing facilities

Debra Cafaro (Credit: iStock)

Despite the senior housing market still dealing with a surge of new supply, Ventas posted a strong start to 2019 thanks to its investments in other sectors, including medical and research facilities.

The Chicago-based REIT that specializes in senior housing and medical facilities posted growth in both net operating income and funds from operations in the first quarter, officials said during a Friday earnings call.

Ventas’ funds from operations totaled $352.7 million in the first quarter, up from $293.1 million in the fourth quarter, and $345.1 million in the first quarter of 2018. Ventas’ net operating income was $466.5 million, up 1.1 percent year over year. That ca爱上海同城 爱上海me despite its senior housing portfolio seeing same-store net NOI decrease 2.2 percent year over year, to $157.7 million.

Ventas Chairman and CEO Debra Cafaro said the senior housing industry continues to see a “mismatch” in deliveries and demand, thanks to increasing supply that’s hit the market recently.

“We continue to feel the effects in our senior housing business in elevated openings” of new facilities, Cafaro said during the earnings call.

Industry wide, a flood of new senior housing inventory has caused occupancy rates to drop to 88 percent, a 20 basis point decline year-over-year.


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