Tarrytown apartment complex sells for $91M

Massachusetts-based DSF Group bought the Talleyrand Apartments for $91 million, according to reporting from the Westchester Business Journal. The 300-unit complex had been owned by Brooklyn-based Equity Residential, which recently sold an Upper East Side apartment b上海夜网 阿爱上海同城uildin上海千花网龙凤论坛 上海千花社区g for more than $85 million. CBRE’s Je阿拉爱上海同城 爱上海龙凤419桑拿ffrey Dunne, Gene Pride and Eric Apfel brokered the Tarrytown 爱上海 爱上海同城手机版deal. [WBJ]

Tags: Westchester Fairfield
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Town Residential

Resi firms descend on remnants of Town Warburg, Oxford offer incentives to “displaced” agents

Within hours of the demise of Town Residential s sales and leasing divisions on Thursday, the text messages and emails started flying.

With several hundred brokers suddenly free agents, Town s rivals were quick to lay claim on the carcass.

One senior brokerage executive compared the phenomenon to locusts descending. I ve never seen anything like this, the source said. This has happened in the past to tiny companies. This was not a tiny. It s a big deal.

Town informed agents on Thursday that it would shutter its resale and leasing operation following months of rumors that the firm was facing financial difficulties, as The Real Deal first reported. And sources said Town agents are being told they can take their exclusives with them, and that in-contract sales will be reassigned to their new firm.

A representative for Town declined to comment.

Related: Town Residential shutting down sale, leasing business

At its peak, Town had more than 600 agents and 10 offices. More recently, the firm counted 442 agents, down 15 percent from 523 in 2016, according to an analysis by TRD in January. At that time, the firm had $534.1 上海千花社区 上海千花网交友million in listings. It closed $660 million sell-side deals in 2新爱上海同城对对碰论坛 上海同城对对碰交友社区017. Town will still work on new development, the firm s founder Andrew Heiberger said on Thursday.

By late Thursday, the city s major firms were scheduling interviews with Town agents who are scrambling to find new (professional) homes. I changed up my whole schedule新爱上海同城对对碰论坛 上海同城对对碰交友社区 tonight and tomorrow morning, one brokerage chief said.

Meanwhile, agents and managers at Mirador Real Estate, Mdrn. Residential and Warburg Realty messaged ex-Town agents on social media.

While we are saddened by @townresidential s shutting down of its resale and leasing business, we welcome #agents with #international #sales experience to join us in our expanding brokerage, read an Instagram post by One Only Realty, a small firm headed by Gennady Perepada.

Contact me, Warburg agent Bill Kowalczuk posted on Facebook. Warburg is offering a great incentive for displaced Town agents.

Oxford Property Group also said it would offer a $1,500 signing bonus to ex-Town agents, according to founder Adam Mahfouda, who said he already has meetings set up with 10 to 15 agents over the next few days.

We just want the opportunity to introduce our product to agents, he said of his brokerage, which has 450 agents and paid $20 million in commissions last year. Mahfouda added that Oxford pays out commissions “within 48 hours.”

Town already lost many of its big-name brokers over the past few months, but several remain — including Steve Gold, a co-star on Bravo s Million Dollar Listing: New York, and Tribeca specialist Danny Davis. Dana Power has several of Town s biggest listings, including a penthouse at 129 Lafayette that s asking $16.95 million. And Gold currently has $66 million in listings and $20.8 million in[……]

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US Rental Market

Is Phoenix a better place to rent than NYC? New report ranks the Arizona capital as the top city to rent in the country

Phoenix, Arizona (Credit: iStock)

You might be able to rent a two-bedroom apartment in Detroit for $500. But are you getting the most bang for your buck?

Not according to WalletHub. The personal finance services comp爱上海龙凤419桑拿 上海龙凤论坛sh1fany’s “Best and Worst Places to Rent in America” report has dubbed Phoenix as its top choice. The report counts the state’s capital and five other cities in its metro area among the top 15 of 182 around the country. The Motor City ranks dead last.

The report takes into account rental affordability, average apartment size, cost of living and a series of quality of life metrics that include the state of the job market and safety. The report suggests that if you’re looking for value, its best to look outside the country’s major metro areas, which have some surprising and not-so-surprising statistics.

New York City is notable for having one of the lowest ratios in the country in terms of price-to-rent vs. price-to-buy, which means it often makes more sense to buy than rent. Unsurprisingly it also has the highest cost of living, tied with Washington, D.C.; San Francisco; and three other cities.

But New York is also expected to see the lowest median rent growth in the next year, along with Newark and Jersey City, New Jersey, and Yonkers, New York. Manhattan saw rents rise for the first time this year in May, driven by activity on the high end of the market.

The six上海龙凤论坛 新上海贵族宝贝论坛 cities where rent is projected to grow most drastically are in California. Five of them are northeast of Los Angeles in the Inland Empire, likely a spillover effect from L.A., where rents are expected to rise to $2,200 by the end of 2018.  Overall, L.A. ranked 88th on the list, which is right in the middle of the pack, but was at the bottom of the list at 172 in terms of上海千花网龙凤论坛 上海千花社区 affordability.

Miami and nearby Hialeah are tied for the least affordable rents in the country in terms of median income to median rents, just behind Detroit.

Chicago came in just below average, ranking 134th on WalletHub’s list, t上海龙凤论坛sh1f 上海龙凤论坛hanks to a low score for quality of life.

Tags: Re, rental market
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Jerome Avenue Rezoning

While the borough’s Jerome Avenue rezoning has been slow-moving, privat上海同城对对碰交友社区 上海夜网论坛e developers are quickly planting their flags

Sources say it’s a matter of time before many of the famed auto shops and other low-scale commercial properties on Jerome Avenue are replaced by residential high-rises.

Jerome Avenue, the roughly 7-mile thoroughfare running from the south end to the north end of the Bronx, has long been home to a lengthy stretch of auto shops and other low-scale commercial buildings.

But if a recently passed rezoning takes off, it could soon become better known for a slew of residential high-rise projects.

The City Council unanimously passed the Jerome Avenue rezoning in late March, paving the way for a major overhaul to those neighborhoods after years of debate. The rezoning will cover about 92 blocks across 2 miles, from 165th Street to 184th Street, and is expected to generate roughly 4,600 new units of housing, according to the city.

Three major real estate projects are already being planned for the area: two from Long Island-based Maddd Equities on River Avenue, totaling 750,000 square feet, and one from Manhattan developer Peter Fine near the corner of Jerome and Marcy Place, totaling 186,000 square feet.

And though one of the goals of the rezoning is to bring more affordable housing to the area, it has still sparked fears about gentrification and displacement due to the immediate response from private developers. Some also worry that sellers may have an inflated sense of what their land is worth — hampering the amount of deals that actually get done.

“The market is so 新上海贵族宝贝论坛 上海贵族宝贝交流区hot that all the owners want to do deals that have no contingencies,” said Steven Westreich, president of the Manhattan investment sales brokerage Westbridge Realty Group. “They have a million brokers that are running after them and throwing crazy numbers at them.”

The first wave

Fine, a co-founder of Atlantic Development Group, purchased the 25,000-square-foot lot at 1331 Jerome Avenue for $11.1 million in May, marking the first property in the area to be snapped up after the rezoning vote.

The developer is partnering with the anti-poverty nonprofit the Doe Fund to build a 15-story project there with 255 apartments that will be entirely below market rate. The plans call for roughly 98,000 square feet of housing, 69,000 square feet of community space and 19,000 square feet of commercial space. The total cost of the project is still unknown.

Fine told The Real Deal in a brief statement that he was “thrilled” to develop “255 units of desperately needed affordable housing on Jerome Avenue.”

David Simone, a principal at Concourse Realty Partners who helped broker Fine’s purchase of the site, said the area had always been fairly popular with retail landlords, but the rezoning makes it far more attractive to residential developers. “It’s not going to be a one- or two-year transformation,” he said, “but I think over the long term, you’ll see a lot of development in this ar[……]

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Lynne Patton

HUD s Lynne Patton says she will move into NYCHA housing to protest heating outages The Trump administration has proposed cutting HUD’s budget by more than 18%

Lynne Patton moving into NYCHA housing (Credit: Getty Images, Pixabay, and STV)

Lynne Patton, the top bureaucrat at the Department of Housing and Urban Development for the New York region, said on Wednesday she plans to move into a NYCHA high-rise in Harlem to protest heat and hot water outages throughout New York City public housing. Presi上海千花社区 上海千花网交友dent Trump, who appointed Patton in 2017, has proposed eliminating all federal funding of capital repairs at public housing projects nationally, as they face a $40 billion backlog.

The news was first reported by PIX 11.

In a comment on Twitter, Patton wrote, “Basic human conditions are non-negotiable. @HUDgov HQ knows that I feel very strongly that if they don’t have them, neither should I.”

The 1,940-unit Grant Houses development at 123rd Street lost heat and hot water for more than 24 hours over the Thanksgiving holiday. News of frigid conditions at the complex, which holds more than 4,000 people, came as NYCHA reels from the fall out from its on上海贵族宝贝交流区 上海贵族宝贝论坛going lead paint contamination scandal and its overall capital funding needs are estimated to total some $25 billion.

It was not immediately clear how Patton, who makes an annual government salary of $161,900, would qualify for an apartment at the Grant Houses or whether it would be provided to her by NYCHA.

In a statement, a representative for Patton told The Real Deal that Patton would move in with a Grant Houses family already identified by Citywi上海千花网交友 上海千花网论坛de Council of Presidents’ Danny Barber if HUD, SDNY, the City and State of New York do not come together to commit to a real plan, real resources, and real leadership here on the ground by Judge William Pauley’s deadline December 14.

A representative for NYCHA declined to comment.

Earlier this month, Pauley rejected a settlement between the U.S. Attorney s office and the City of New York that would have required the city to put up $1.2 billion in additional funding for NYCHA and to come under federal monitor. Pauley suggested that any agreement should give HUD primary responsibility for NYCHA s future viability, according to the New York times.

In February, President Trump proposed an $8.8 billion cut to HUD’s annual budget, including the complete defunding of the Public Housing Capital Fund, which benefits NYCHA and other housing authorities. At the time, the White House j上海夜网论坛 上海夜网ustified the decision saying that affordable housing funding “should be a responsibility more fully shared with State and local governments.”

Congress has largely rejected Trump’s proposals, however. In August, the Senate passed an appropriations bill for 2019 with a HUD budget that totaled $12 billion higher than the White Houses’ original request, but this bill has not been reconciled with its equivalent measure in the House of Representatives. The HUD budget is currently[……]

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Los Angeles Development

Here are 10 real estate megaprojects coming to LA The mixed-use Angels Landing and Fig + Pico in Downtown, along Beny Alagem’s One Beverly Hills and Waldorf Astoria Residences in Beveryl Hills headline the list

Clockwise from left: A rendering of Angels Landing, construction at L.A. Stadium, and a rendering of One Beverly Hills

UPDATED, December 3, 10:45 a.m.: Los Angeles, better known for its low-density, low-rise development, has been transforming in recent years with bigger and taller real estate projects.

Megaprojects now in the works include the multibillion-dollar sports stadium in Inglewood; the the massive mixed-use Angels Landing in Downtown; the nearby expansion of the L.A. convention center; and the One Beverly and the Waldorf Astoria Residences, both plagued with delays and now both owned by developer Beny Alagem.

The following 10 projects are among the largest in the works in L.A. County.

Angels Landing

This $1.2 billion project is a joint venture by the Peebles Corporation, MacFarlane Partners and Claridge Partners that would bring 570 residential units, two hotels, 50,000 square feet of commercial space and a charter school to what is now Pershing Square in the heart of Downtown L.A.

The city chose the development team over two others to redevelop Pershing Square last December. The group filed the official development plan for the project in June, but hit a snag in October when the city decided it needed a full environmental review to move forward. That typically takes a year, but for a project this large it could stretch on for longer.

L.A. Convention Center expansion

The first major work at the L.A. Convention Center in two decades includes the addition of 350,000 square feet to the main convention center building, the construction of an 850-room hotel, and a redesigned Gilbert Lindsay Plaza. The cost? Around $1.2 billion, some of which developer Anschutz Entertainment Group hopes will be paid by L.A. taxpayers.

The plan爱上海同城手机版 新爱上海同城对对碰论坛 has the tentative approval of city officials, including Mayor Eric Garcetti. AEG plans to pay for the expansion and the hotel addition, but will likely seek those tax breaks and other financing help from the city like it has done with previous expansions at the convention center.

Fig + Pico

Just across the street from the Convention Center, Lightstone Group is set to build the 1,153-room Fig + Pico hotel complex. The complex includes 42- and 25-story residential towers, along with 16,750 square feet of digital signage. There will be three hotels as part of the complex.

Lightstone received City Council approval for the project in May. That includes a hefty tax break the city estimates to be worth around $103 million. Lightstone promises to have rooms available in time for the 2028 Olympics上海同城对对碰交友社区 上海夜网论坛.

Oceanwide Plaza

Oceanwide Real Estate Group’s $1 billion mixed-use South Park project is the closest to completion on this list. The project topped out in April and is slated for completion sometime next year, according[……]

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Great Performances

Caterer Great Performances doubling footprint, relocating to South Bronx’s Bruckner Building Company is leaving its longt上海龙凤论坛sh1f 上海龙凤论坛ime home in Hudson Square

The Bruckner Building at 2417 Third Avenue in Mott Haven with Savanna s Chris Schlank (Credit: Google Maps and Max Dworkin)

Catering company Great Performances is moving from Hudson Square to the South Bronx, where it will almost double in size.

The company will move to the Bruckner Building at 2417 Third Avenue in Mott Haven over the summer, where it will lease about 41,000 square feet, according to the New York Post. It had just 24,500 square feet in its 304 Hudson Street location.

Great Performances is moving in the wake of Disney’s purchase of four buildings in the neighborhood last year for its new headquarters tower. Great Performances had been at its Hudson Square location for 26 years.

Its Bronx location will be split between the ground and third floors of the Bruckner Building. Asking rent was阿爱上海同城 阿拉爱上海同城 between $25 to $30 per square foot.

The property is owned b上海龙凤论坛 新上海贵族宝贝论坛y阿拉爱上海同城 爱上海龙凤419桑拿 Savanna and Hornig Capital Partners, which spent $12 millio新上海贵族宝贝论坛 上海贵族宝贝交流区n to modernize the building. [NYP] – Eddie Small

Tags: Commercial Real Estate, mott haven, savanna, the Bronx
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Madison Equities

Madison Equities, Thor sell 212 Fifth s retail space to international investor for more t新上海贵族宝贝论坛 上海贵族宝贝交流区han $25M Greek home-furnishings company Togas House of Textiles is a retail tenant at the base of luxury condo conversion

Robert Gladstone and 212 Fifth Avenue (Credit: Getty Images and Google Maps)

The developers behind 212 Fifth Avenue, one of the ambitious condominium projects transforming the area around Madison Square Park into a luxury neighborhood, sold the building’s retail space for more than $25 million.

Robert Gladstone s Madison Equities, Joseph Sitt s Thor Equities and Building and Land Technology sold a trio of retail condos at the base of the NoMad building for $26.5 million, property records filed with the Department of Finance Friday show.

The buyer is an “international investor,” Douglas Elliman broker Christine Traina, who represented the new owner with her colleague Elissa Slan, told The Real Deal.

212 Fifth Avenue

The property, marketed by Cushman Wakefield s Craig Waggner and John Ciraulo, had an asking price of $29 million.

The buyer was attracted to the in-place cash flow and stability from having long-term leases, Waggner said.

Property records list th上海夜网 阿爱上海同城e buyer as an entity managed by investor Joaquin Garcia-Quiros Rodriguez, who appears to be managing director of the Spanish senior-living landlord Saarema.

Representatives for the sellers did not immediately return requests for comment, while Rodriquez could not be reached.

The purchase price for the three retail condos – which have more than 200 feet of frontage along Broadway, Fifth Avenue and West 26th Street – works out to nearly $5,736 per square foot.

Togas House of Textiles, a Greek company that sells luxury home furnishings, and make-up company Deciem occupy the retail space.

The area along the western side of Madison Square Park, once a gritty neighborhood filled with industrial loft buildings, has been transformed in recent years into a hip, lux上海贵族宝贝论坛 上海贵族宝贝ury destination. The celebrity-backed food hall Eataly, in particular, opened three blocks south of 212 Fifth Avenue at L L Holding Company’s 200 Fifth Avenue in 2010.

Spanish kitchen- and bathroom-tile company Porcelanosa in 2012 paid $40 million to buy the former Commodore Criterion building at 202 Fifth Avenue, which it transformed into a showroom designed by Sir Norman Foster.

And at the base of 10 Madison Square West – the former International Toy Center building that developers Steve Witkoff and Howard Lorber’s New Valley converted to luxury condos – Savanna in 2017 sold a retail condo leased to PetSmart for $60 million to the real estate arm of TIAA Global Asset Management.

A partnership between Madison, Building and Land and Thor developed the 24-story 212 Fifth Avenue.

Sotheby s International Realty is marketing the development s residential sales. In November, Sotheby s slashed the price of the condo s 10,000-square-foot triplex penthouse to $62.8 million from about $74 million.

The property had been the subject of a $[……]

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B company refutes a rumor: ” radiation 76 ” won’t free

Hearsay said yesterday ” radiation 76 ” possible meeting becomes free, because EB Games of foreign game shopkeeper is in next wearing ” radiation 76 ” hypostatic edition game. But not be such actually. B company denied this one groundless allegation on Twitter today. Pursue as follows, the player is in on Twitter @ B company, if,say ” radiation 76 ” become free, he wants to let B company withdraw fund to oneself. To this, b company return says the rumor does not have a bit authenticity. Accordingly ” radiation 76 ” still won’t become a free game after all. The sales volume that we do not know this making whether B company is satisfactory, but all sorts of problems that B company is trying hard to solve vermicelli made from bean starch to feedback. [……]

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” biochemical crisis 2: Refashion edition ” video of fixed perspective effect is revealed

Youtube user EnvelopingSounds shared two paragraphs of interesting video a few days ago, revealed ” biochemical crisis 2: Refashion edition ” if adopt fixed perspective,can be what kind of effect. Well-known, the biochemical crisis trilogy of original (1-3) was to adopt fixed perspective, use this kind of perspective to build an admirable horrible effect, and 4 later, 5, 6 it is the 3rd person crosses humeral perspective, 7 are perspective of the first person. These two paragraphs of video can let player experience use fixed perspective to be able to have what kind of experience in refashion edition. Can say this idea comparatives cruel, the Mod that hopes to lover can roll out corresponding function will let a player experience whole game through securing a perspective.[……]

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