Eastchester Heights

Clarion, Taconic seal $110M refi for large Bronx rental complex Firms acquired 118-building development for $133M in 2007

Taconic Investment Partners and Clarion Partners secured $110 million from Capital One to refinance their large Eastchester Heights rental complex in the East Bronx.

The loan, brokered by HFF, replaces a previous $86.5 million mortgage provided by New York Community Bank for Taconic and Clarion’s $133 million acquisition of the 上海千花网交友 上海千花网论坛complex from New Jersey-based Urban American in March 2007.

The new financing carries a 30-month term and an option to extend for another 30 months in six-month intervals, according to the Commercial Observer. HFF brokered the deal.

The Eastchester Heights complex, located in the Williamsbridge neighborhood of the Bronx, consists of 118 buildings spanning five blocks b上海夜网 阿爱上海同城ound by Eastchester and 上海贵族宝贝 上海千花网龙凤论坛Wilson avenues, Boston Road and Hicks Street.

The buildings, constructed in 1935, range from four to six stories each and hold studios and one-to-three-bedroom apartments.

Taconic is seeking a partner for a 上海千花社区 上海千花网交友proposed recapitalization of a 10-story Hell’s Kitchen office building, as The Real Deal reported Monday. Clarion recently sold a majority stake in its business to asset management firm Legg Mason for $585 million. [CO] – Rey Mashayekhi

爱上海同城手机版 新爱上海同城对对碰论坛Tags: capital one, clarion partners, refinancing, taconic investment partners, the Bronx
We are having some technical difficulties. Try again later.

By clicking Subscribe you agre[……]

Read more

Read More

Share

421a

Brooklyn politicians wan上海千花网交友 上海千花网论坛t 421a for pricey outer borough condos Albany currently negotiating renewal of tax abatement progra上海千花网 爱上海同城对对碰m

Marty Golden and Simcha Felder

Two Brooklyn state senators are leading a push to make larger and pricier outer borough condo developments eligible for the 421a tax abatement.

State lawmakers are currently working on a renewal of the program after construction unions and real estate leaders agreed on wage requirements last month for projects in Manhattan south of 96th Street as well as the Brooklyn and Queens waterfronts.

A June 2015 proposal never signed by Gov. Andrew Cuomo severely limit爱上海同城论坛 爱上海同城ed the eligibility of condo developments for the tax break. Brooklyn senators Simcha F爱上海 爱上海同城手机版elder and Marty Golden want to loosen those restrictions.

I want to be clear that it s been an ongoing新爱上海同城对对碰论坛 上海同城对对碰交友社区 quest, Felder told Politico. It s been an ongoing battle since (421-a) died. Bringing 421-a back to life is a wonderful goal, but it should certainly include people in the outer boroughs.

Under the June 2015 proposal, only outer borough condos with less than 35 units and an average price of around $700,000 would qualify, and only if a resident had lived in the unit for at least five years. Cuomo refused to sign the bill before unions and developers reached a deal on wage requirements at 421-a developments. As talks dragged on, the program expired in January.

The two sides finally reached a deal last month, but lawmakers still have to pass legislation[……]

Read more

Read More

Share

ICSC 2017

The mood from the floor of the International Council of Shopping Centers’ RECon Monda爱上海同城论坛 爱上海同城y was a defensive optimism, colored by a recognition that leasing volume was healthy in part because rents have declined.

“Right now, landlords are trying to embrace the new reality of lower rents and bigger contributions,” said Robert Futterman, of the retail-focused brokerage RKF.

But at the same time, tenants are closing some stores, and “right-sizing” their location, and “that’s keeping the brokers very busy,” Futterman added.

The halls were packed earlier Monday, crowded around the booths of brokerages like CBRE, JLL, Newmark Grubb Knight Frank and Marcus Millichap.

“We all read about the negativity to the industry, but it’s expansion when I speak with brokers,” said Adam Weinblatt, a broker at NGKF. But he acknowledged that pricing has shifted, and there may be more to come.

“Rents have not bottomed out, but they will soon,” he said.

Volume was steady, said Joe Jacobson, a partner with the landlord Madison Capital. “Deals are getting done at realistic levels.”

There was broad agreement on which uses were most active.

“Food, wellness, f阿拉爱上海同城 爱上海龙凤419桑拿itness,” said William Friedland, of Friedland Properties.

David Gomez, of investment sales-focused brokerage Fountain Realty Group, said he was counseling buyers to focus on buying spaces that can accommodate tenants with food uses.

“If you can vent it, you can rent it,” is Fountain s catchphrase du jour, Gomez said.

Brian Lindley of Chick-fil-A said[……]

Read more

Read More

Share

The Real Deal Shanghai

A look inside The Real Deal s Shanghai event Check out photos from TRD’s thr新上海贵族宝贝论坛 上海贵族宝贝交流区ee-day event at the Jing An Shangri-La

More than 2,200 people from China and the United States descended on The Real Deal s annual U.S. Real Estate Showcase and Forum in Shanghai this y上海千花社区 上海千花网交友ear and if you missed any of the action, we ve got you covered. Check out the above slideshow for an inside look at our three-day event at the Jing An Shangri-La.

You can also check out TRD s event coverage by reading the stories below:

Douglas Durst gives keynote at TRD s Shanghai showcase
The full recap of Day 1 at The Real Deal s Shanghai showcase
爱上海同城论坛 爱上海同城 Day 2 recap from The Real Deal s Shanghai showcase阿拉爱上海同城 爱上海龙凤419桑拿
Key takeaways from The Real Deal s Shanghai event

Kerry Barger

Tags: china
We are having some te爱上海同城 爱上海chnical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.

[……]

Read more

Read More

Share

Ares Management

Ares shopping stake in Normandy’s upscale Village office project Developer planning 190K sf building to replace former St. Denis Hotel on Broadway

797-799 Broadway, Normandy s David Welsh and Ares’ Michael Arougheti

Ares Management is looking to sell its 50 percent stake in a Greenwich Village office building that it上海贵族宝贝 上海千花网龙凤论坛s partner Normandy Real Estate Partners is planning to demolish and replace with a ground-up, Class-A office building.

The global alternative asset manager led by Michael Arougheti recently hired Cushman Wakefield to find an investor that would either take the stake or part of it, sources told The Real Deal. The sale of the minority interest is expected to bring the total capitalization of the project to $250 million, or $1,300 per buildable square foot, sources said.

Normandy and Ares picked up the existing six-story, 138,000-square-foot office building at 797-799 Broadway for $101 million in 2016. At t上海夜网 阿爱上海同城he time, the building was 98 percent occupied – with medical offices and small-time retailers – but the leases are set to expire next year at the latest.

Normandy is preparing to demolish the Class B building and instead construct a 190,000-square-foot Class A office property designed by Perkins Eastman. The developer is still looking to gather additional air rights from neighboring parcels, including BLDG Management s retai上海千花网 爱上海同城对对碰l building directly south at 795 Broadway, sources said.

Sources said Ares wants out because the fund it made the acquisition thro[……]

Read more

Read More

Share

Belnord Apartments

Westbrook takes stake in HFZ’s conversion of the Belnord Iconic UWS property’s condos have projected sellout of $1.35B

The Belnord, Ziel Feldman, Sush Torgalkar and Adam Spies

Westbrook Partners took a stake in HFZ Capital Group’s redevelopment of the Belnord, by converting the debt it owns on the property into fresh equity, The Real Deal has learned.

The recapitalization of the gated, 680,000-square-foot Upper West Side apartment complex is somewhere north of $650 million, according to sources. HFZ confirmed the par上海贵族宝贝交流区 上海贵族宝贝论坛tnership, but declined to comment on the financials of the deal.

Ziel Feldman’s HFZ, which paid $575 million to Extell Development for the site in 2015, has been converting the property’s rental apartments into condominium units as rent-stabilized tenants vacate. Of the 215 units, 95 are currently being converted.

The plan is for all of the units to eventually become condos, and the redevelopment has a爱上海同城 爱上海 projected sellout of $1.35 billion — one of the largest ever for the Upper West Side.  The New York state Attorney General’s office approved the offering plan in August.

The 14-story property, located at 225 West 86th Street, was built in 1908.

Nir Meir, managing principal at HFZ, said sales are expected to launch next month, with Douglas Elliman’s development marketing arm handling marketing and sales. He said he expects residents to begin moving into the condo portion, designed by starchitect Robert A.M. Stern, later this year.

“This is the most unique of[……]

Read more

Read More

Share

Hyperloop NYC



For most, the idea of 阿爱上海同城 阿拉爱上海同城traffic-less, headache-free travel is nothing but a pipe dream. For Elon Musk, it could be the future of mass transit.

Last summer, the tech mogul tweeted that he received verbal govt approval for his fabeled Hyperloop, a high-speed transportation system that would send passengers sailing through low-pressure tubes at speeds in excess of 700 miles per hour.

Though some developers doubt the project will ever happen, The Real Deal sought out five vacant lots where Hyperloop stations could go if it ever comes to New York City. The sites are based largely on their proximity to existing transportation, population hubs and similarities to the lot in D.C. where Musk received an actual permit to do some excavation work.

Tags: celebrity rea上海千花网 爱上海同城对对碰l estate, Hyperloop, mass transit, Videos
We are having some tech上海龙凤论坛 新上海贵族宝贝论坛nical difficul爱上海同城手机版 新爱上海同城对对碰论坛ties. Try again later.

By clicking Subscribe you agree to our Priva新上海贵族宝贝论坛 上海贵族宝贝交流区cy Policy.

[……]

Read more

Read More

Share

R. Kelly Ransacked Rental Homes

Property group suing R. Kelly to repair his ransacked Georgia rental homes SB Property Management is seeking more $200,000 in damages from R. Kelly over the two damaged homes

(Credit: Nicholas Ballasy, Public Domain Pictures)

R. Kelly s two 上海千花网 爱上海同城对对碰rental homes in Georgia were ransacked during the singer s tenancy and now he s on the hook for damages.

His 23-room mansion, which rents for $10,000 per month, had extensive damage which included floors, carpets and electrical wiring that had to be redone before SB Property Management could rent the property again, according上海贵族宝贝交流区 上海贵族宝贝论坛 to the New York Post. There was also a number of items, including a stove, light fixtures, ceiling fans and even pillows, that went missing on Kelly s watch.

The seco上海龙凤论坛sh1f 上海龙凤论坛nd house, which was renting for $3,000 a上海夜网 阿爱上海同城 month, was found loaded with garbage and had two broken windows, according to the property group.

The damages was爱上海同城 爱上海 reportedly done at the hands of Kelly s former associate Alfonso Walker, who was charged with breaking into the homes and stealing.

Kelly was accused of running a sex cult and grooming girls at the Georgia mansion and other properties in Chicago earlier this year. [NYP] Erin Hudson

Tags: celebrity real estate, Rental Market, Residential Real Estate
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.

[……]

Read more

Read More

Share

Sayville Plaza gets Chipotle and health clinic as tenants

上海贵族宝贝论坛 上海贵族宝贝Chipotle Mexican Grill and GoHealth Urgent Care opened locations at the Sayville Plaza as the shopping center battles a lawsuit and increased vacancy. The 371,619-square-foot plaza on Sunrise Highway had about 110,000-square-feet of vacant space in August, Newsday reported, as stores there closed after their parent companies merged or failed. Sayville Menlo LLC, which owns the plaza wi爱上海龙凤419桑拿 上海龙凤论坛sh1fth Sayville Plaza Development, sued Sears Holdings Corporation in September 2017, claiming that the now-bankrupt retail giant allowed leases it held to lie mostly vacant and becom上海龙凤论坛 新上海贵族宝贝论坛e rundown. Chipotle recently started serving its casual Mexican cuisine out o阿爱上海同城 阿拉爱上海同城f 2,200 square feet in the northwest corner of the complex, according to Patch and Garden City-based Breslin Realty Development Corporation. GoHealth, which has 23 locations across Long Island, will operate out of the same area. Robert Delavale, vice president and director of leasing at Breslin Realty, negotiated for the landlord in the transactions with both new tenants. Sayville Plaza still has 38,000 square feet of available space. [Breslin Realty]

Tag上海贵族宝贝论坛 上海贵族宝贝s: long island
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.

[……]

Read more

Read More

Share