Month: June 2019

Olshan Realty

Not many luxury contracts last week, but a few big ones: Olshan 19 deals signed at $4M and above, including the Baccarat PH asking $54M

Clockwise from top left: the Baccarat penthouse at 20 West 53rd Street in Midtown, 27 East 11th Street in Greenwich Village, 145 Central Park West and 347 Bowery

Luxury residential sales volume had a slow week, but a handful of major purchases kept things interesting, according to Olshan Realty’s weekly market report.

Buyers signed a total of 19 new contracts at $4 mill爱上海 爱上海同城手机版ion or above last week. That followed a Memorial Day week in which 24 contracts were signed.

The average asking price for luxury units sold last week was an unusually-high 12.7 million. The average discount 上海千花社区 上海千花网交友from the original asking price was 6 percent, and units sold this week spent an average of 350 days, nearly a year, on the market.

The l爱上海同城对对碰 爱上海同城论坛argest contract was for the five-bedroom, 7,381-square-foot duplex penthouse at the Baccarat Hotel and Residences at 20 West 53rd Street. The apartment features a 41-foot terrace and Central Park views. The developers, Starwood Capital Group and Tribeca Associates, were asking $54 million at the time of the sale down from $60 million when the unit first listed.

The second highest-priced contract was for a 25-foot-wide Greek Revival townhouse at 27 East 11th Street. The five-story, seven-bedroom home has a roof deck, two terraces, a landscaped garden, an elevator and seven fireplaces. The seller asked $29.995 million, down from[……]

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Thomas Lopez

City Council candidate faces criticism over anti-semitic email about landlords Thomas Lopez-Pierre is challenging Mark Levine in 2017 race

From left: Thomas Lopez-Pierre and Mark Levine

Harlem City Council candida爱上海同城手机版 新爱上海同城对对碰论坛te Thomas Lopez-Pierre is under fire for anti-semitic comments.

The controversial politician recently sent a fundraising email with the subject “SAVE HARLEM from Greedy Jewish Landlords.” The email went on to call his opponent, Council member Mark Levine, “the only Jewish person in the race” and alleged that he is conspiring with landlords “to push Black and Hispanic tenants out of Harlem!”

In response 上海千花网交友 上海千花网论坛to the email, a group including Council Speaker Melissa Mark-Viverito, Comptroller 阿爱上海同城 阿拉爱上海同城Scott Stringer, Public Advocate Letitia James sent an open letter to Lopez-Pierre requesting an apology.

“Such rhetoric has no place in our society, and certainly doe上海龙凤论坛 新上海贵族宝贝论坛s not belong in a political campaign,” the letter read.

Lopez-Pierre has faced heat over his上海龙凤论坛sh1f 上海龙凤论坛 emails in the past. When he ran for City Council in 2013, he sent an email to Democratic fundraiser Brian Benjamin insulting him with racial and sexual slurs.

Also in 2013, state Assembly member Linda Rosenthal accused Lopez-Pierre of groping her, which he denied, calling her a $20 political slut.

He is widely considered a long shot to win the City Council race. [NYDN]  Konrad Putzier

Tags: city council, Mark Levine
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Bob Knakal

Paydirt: Knakal makes his move, multifamily streak, resi broker gimmicks … more The industry news you need to know to start your week, and what’s ahead

Clockwise from left: Bob Knakal as a rōnin, a Secret Service badge and Kips Bay Court

The first scene from Akira Kurosawa s 1961 classic “Yojimbo” shows a warrior tossing a stick in the air and choosing his path based on the direction the stick lands in. He is, after all, a rōnin, a samurai with no master. Which is爱上海龙凤419桑拿 上海龙凤论坛sh1f what Bob Knakal could be as early as January 2018.

As Brett White was engineering his purloin of Doug Harmon and Adam Spies, one of his top dealmakers was rethinking his own future. Knakal, who joined Cushman when his Massey Knakal brokerage was acquired by the firm for $100 million in December 2014, was locked in until D上海千花网论坛 上海千花网ecember 2019. But while the Harmon-Spies talks were happening, Knakal decided he might want out early and renegotiated his contract, as The Real Deal’s Mark Maurer revealed last week. Under the new terms, Knakal might just have a year and change left at Cushman, and once he’s done, could become a free agent, join another firm or start his own.

It’s worth remembering what the addition of Harmon and Spies could mean for other high-fliers at Cushman: On all deals $75 million and up, brokers are expected to bring in the former Eastdil duo in exchange for a referral fee. Critics have said this could demotivate other ambitious dealmakers at the firm, who wouldn’t get to eat what they kill[……]

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The Badge Building in Long Island City (Credit: Google Maps)

Making money in the New York City real estate industry seems like a surefire bet until you start crunching the numbers. The thousands of projects in development, the tens of thousands of agents and the myriad of companies related to the industry, such as title insurers and contractors, are guarantees of two things: There is money to be made in this industry and the competition is fierce. Setting yourself apart fro上海千花社区 上海千花网交友m the herd is a matter of knowing more than people around you. TRData is your source for that knowledge.

TRData offers New York City real estate reports on topics ranging from new development projects to historical property information on completed buildings to licensed agent movement.

Are you a developer in Brooklyn? We can offer you meticulous information about every project you ll be competing with. This can include the size of the project, the developer, contractor and architect and their contact information, the date of every permit filed and accepted by the Department of Buildings and Attorney General s office or the progress they ve made in completing the project. Too many projects in Brooklyn? How about projects in Bedford-Stuyvesant that have receive上海千花社区 上海千花网交友d their temporary certificate of occupancy and will be between 25,000 and 50,000 square feet when completed? How about all of the projects in development within a square mile of your intended building?

Are you a contractor in Queens? We can of[……]

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South Norwalk mall developer says Bloomingdale’s and Nordstrom are committed tenants

South Norwalk mall developer says Bloomingdale’s and Nordstrom are committed tenants

The developer of the under-construction SoNo Collection mall in South Norwalk asserted th上海千花网龙凤论坛 上海千花社区at anchor tenants Bloomingdale’s and Nordstr新爱上海同城对对碰论坛 上海同城对对碰交友社区om are committed to maintaining their footprints, despite a dismal climate for department stores. Developer GGP has leased 65 percent of av阿拉爱上海同城 爱上海龙凤419桑拿ailable retail space at the mall, which is scheduled to open in the fall of 2018,上海千花网交友 上海千花网论坛 the Stamford Advocate reported. On a recent conference call, CEO Sandeep Mathr爱上海同城手机版 新爱上海同城对对碰论坛ani was asked whether a department store could back out, according to the report, and he replied that the retailers “have dug their heels in to keep the size of the store that they have (planned) currently.” Nordstrom recently suspended plans to take the chain private and has a store planned for the Central Park Tower. [Stamford Advocate]

Tags: Westchester Fairfield
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Industrial Real Estate

Prices are trending upward for industrial sites, too Report shows PPSF growth in all five boroughs

Source: Ackman-Ziff Real Estate

UPDATED, 11:37 a.m., Feb. 13: Industrial real estate prices are trending upwards across New York City, according to a new data analysis from Ackman-Ziff Real Estate.

Boosted by the e-commerce sector s demand for distribution centers, between 2013 and 2017 the average price per foot rose 81 percent in the Bronx, 76 percent in Manhattan, 76 percent in Brooklyn, 59 percent in Staten Island and 30 percent in Queens.

Although many major industrial sites have traded to developers looking for land on which to build office and residential towers (think the Na上海贵族宝贝交流区 上海贵族宝贝论坛vy Yard and Hudson Yards), industrial purpose-minded deals are taking place as well. The Ackman-Ziff report points to recent distribution center sales as examples, including Westbrook Partners and Innovo Property Group s acquisition of 24-02 49th Avenue in Queens for $195 million and ASB Real Estate Investments and 60 Guilders pick-up of 5112 Second Avenue in the Bronx for $47 million.

ASB, 60 Guilders team up for $47M Sunset Park bu上海千花网龙凤论坛 上海千花社区y

“We think that a lot of investors that we’re talking to right now are thinking about industrial uses whereas in the past they hadn’t,” said Ackman-Ziff s Jason Meister. Innovo, for example, acquired a 新上海贵族宝贝论坛 上海贵族宝贝交流区movie theatre in the Bronx last year for $75 million, and is reportedly considering the development of 740,000 square feet of industrial space at t[……]

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Hurdlr makes play for real estate agents with business management app Startup’s will offer realtors goal-setting and income tracking services

Hurdlr s Raj Bhaskar (Credit: LinkedIn)

Another startup company has taken aim at the real estate business, to provide front office services to agents still using excel spreadsheets and paper to track their finances.

Hurdlr, a Washington D.C.-based startup that provides an app for freelancers to monitor financ上海贵族宝贝论坛 上海贵族宝贝es, mileages, taxes and other “back office” needs, revealed that it would shift the company s attention to real estate, where it will provide agents with goal-setting featu上海贵族宝贝交流区 上海贵族宝贝论坛res paired with its original income-tracking service.

The company won Realogy s annual startup competition last year, and recently picked up $3.2 million in a venture funding round led by TTV Capital. The app allows agents to track business expenses and can illustrate profitability for each closed deal. It uses real-time income tax calculation that supports all 50 states and D.C., and also connects about 15,000 banks to track a user s deposits and expenses. It can flag transactions that might be tax deductible.

The company s recent announcement, first reported by Inman, comes from a push by Hurdlr s co-founders, who previously developed another real estate tool, VisualHomes, a service for public housing agencies to use for business management services.

“To be successful and profitable we think they need to have a core tool, Hurdlr co-founder and CEO[……]

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Scott Schnall

爱上海 爱上海同城手机版Brooklyn DA indicts 5 in asbestos and false permits scheme Those arraigned include “banned for life” expediter Scott Schnall

Scott Schnall and 816A Fifth Avenue in Brooklyn

Brooklyn District Attorney Eric Gonzalez indicted five New Yorkers on Wednesday in an alleged asbestos removal scheme at a luxury duplex renovation in the Greenwood neighborhood of Brooklyn.

The accused include expediter Scott Schnall, who was previously banned for l爱上海 爱上海同城手机版ife by the Department of Buildings, after it found Schnall had regularly used his professional filing privileges to try to circumvent the zoning resolution and construction codes.

According to the DA, Schnall and four others conspired to conceal the existence of asbestos at 816-817 Fifth Avenue before applying for construction work permits.

These defendants are accused of greedily taking dangerous shortcuts – bypassing safety measures that are put in place to protect the public from serious and unnecessary health risks – to maximize profits at any cost, including the well-being of employees and prospective tenants, Gonzalez said in a statement.

The indictment includes 61 counts, with charges including fifth-degree conspiracy, first-degree falsifying business records, and second-degree reckless endangerment.

To carry out the scheme, the co-conspirators are alle上海贵族宝贝 上海千花网龙凤论坛ged to have forged the signature of a licensed DOB contractor and filed false assessment reports about the existence of asbestos in the buildings.

Building records show the homes[……]

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Brooklyn Luxury Market

Brooklyn’s luxury market picked up for the second week in a row: Stribling Contracts signed last week were worth about $53M overall

From left: 456 Sackett Street and 3爱上海同城对对碰 爱上海同城论坛47 Henry Street in Brooklyn

The Brooklyn luxury market picked up again last week, with 20 contracts signed for a total of about $52.9 million.

The properties were split between 12 townhouses and eight condos, and they went for an average price of roughly $2.6 million, according to the latest report from Stribling Associates. The firm defines阿拉爱上海同城 爱上海龙凤419桑拿 the爱上海同城 爱上海 borough’s luxury market as all homes priced at $2 million or higher.

Both figures were up from the week before, when the market saw 12 contracts signed for about $43 million overall. This marked the second week in a row that both the number of sales and dollar volume increased.

The most expensive deal last week was for a condo at 347 Henry Street in Cobble Hill, which went for about $3.6 million. The three-bedroom unit spans about 1,900 square feet and includes a 165-square-foot private balcony.

The second most expensive deal was for a townhouse at 456 Sackett Street in Carroll Gardens, which sold for about $3.6 million. The triplex four-bedroom home spans 3,442 square feet and includes a private backyard and f爱上海龙凤419桑拿 上海龙凤论坛sh1fully finished roof deck.

Other major deals last week included a townhouse at 185 MacDonough Street in Bedford-Stuyvesant for about $3.4 million and a condo at 184 Kent Avenue in Williamsburg for about $2.7 million. – Eddie Small

Tags: NYC[……]

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