Louis C.K. West Village

Louis C.K. gets serious about NYC real estate

Louis C.K.

Louis C.K. is walking, joke-cracking proof that 上海同城对对碰交友社区 上海夜网论坛the $3 million-and-below price point is the residential market’s sweet spot. Rather than blowing his comedy gold on one big New York City penthouse, he’s gobbling up lots of smaller units — mostly in the West Village — all priced well below $3 million.

The comedian now owns at least five apartments in the downtown neighborhood, including three with his painter ex-wife, Alix Bailey, at 345 West 4th Street, the most recent of which he nabbed for $564,900 last January. They’ve been collecting units at the building for more than a decade.

Then, last month, he upped the ante by buying a $2.45 million two-bed上海夜网 阿爱上海同城room co-op at 101 West 12th Street.

Even out on the East End, he’s topping out at three mil: He paid $2.49 million for his house on Shelter Island, known as Primrose Cottage, in 2014.

The funnyman admits he’s, well, a bit funny about money. “When I first started making tons of money, it freaked me out,” he told the Hollywood Reporter in 2015. “I would always get 10 grand in cash every show because I needed to touch the money.”

738 Broadway

Paris in New York

The Trumps aren’t the only ones with political aspirations.

Paris Hilton has been known to tease fans about running for president. “Let’s Make America Hot Again #ParisForPresident,” she Instagrammed in November.

But before you scoff, Hilton’s personal broker Jared Seligman of Douglas Elliman said Hilton is a heck[……]

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Stellar Management

59 tenants sue Gluck s Stellar Management claiming rent overcharges Group organized by nonprofit HRI seeking class-action status

1795 Riverside Drive, Larry Gluck and 236 East 13th Street

UPDATED, April 18, 5:28 p.m.: Larry Gluck’上海夜网论坛 上海夜网s Stellar Management is facing a lawsuit for allegedly overcharging dozens of rent-stabilized tenants, violating the terms of property tax abatements the company receives from the city.

Fifty-nine tenants from more than a dozen of Stellar s buildings say the landlord abused the J-51 tax abatement, a city subsidy for multifamily properties that requires lan阿爱上海同城 阿拉爱上海同城dlords to keep apartments in the rent-stabilization program, the Wall Street Journal reported.

The action against Stellar in New York State Supreme Court came together following an investigation by the Housing Rights Initiative, a nonprofit that’s inspired similar actions against New York City landlords receiving J-51, such as A E Real Estate Holdings. It also comes in the wake of a mildly successful initiative by Gov. Cuomo to crack down on landlords who flouted J-51 regulations.

In addition to violating the terms of J-51, tenants further allege that in some cases Stellar misrepresented the costs of individual apartment improvements, or IAIs, that allow landlords to make legal increases to otherwise stabilized rents, and routinely failed to register apartments with the Department of Housing and Community Renewal, the state agency that regulates rent-stabilized housing.

In a prepared state[……]

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Eastone Capital Holdings

Flushing boom continues as dev site sells to Eastone Capital for $23M Flushing boom continues as dev site sells to Eastone Capital for $23M

141-57 Northern Boulevard (Credit: Cushman Wakefield)

The deals in Flushing just keep on coming.

Eastone Capital Partners, a Long Island-based real estate investment company, is under contract to buy a development site at 141-57 Northern Boulevard for $23 million, according to a source familiar with the新上海贵族宝贝论坛 上海贵族宝贝交流区 deal.

The roughly 23,000-square-foot site is currently occupied by a Bank of America branch and the headquarters for the International Union of Operating Engineers Local 14-14B. It will remain as is for about two years until Bank of America’s lease runs out. The developer then plans to demolish the building and turn the site, which has about 68,000 square feet of上海夜网论坛 上海夜网 mixed-use development, into a project with retail and condos.

Stephen Preus上海千花社区 上海千花网交友s of Cushman Wakefield brokered the deal and said in a statement that he expected this area of Flushing to see more interest going forward.

“Downtown Flushing has seen such an increase in pricing for land, many developers are looking at the secondary areas on the fringe of downtown such as Northern Boulevard for more sensible price points,” he said. “I expect this trend to continue.”

Eastone has several projects in Queens already, not just in Flushing but also in Long Island City, Ridgewood and Astoria, according to their website.

Flushing is filled with projects right now, to the point whe[……]

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New White Plains campus for French

After nearly seven years of debate, the White Plains Common Council approved the French-American School of New York’s plans to buil上海贵族宝贝交流区 上海贵族宝贝论坛d a new campus. Five of seven council members voted in favor of the school’s revised plan for a 640-student school for grades 6-12 on the site of the former Ridgeway Coun新爱上海同城对对碰论坛 上海同城对对碰交友社区try Club. Some residents and local groups contend that the campus is too large for the neighborhood, will snarl traffic and is en阿爱上海同城 阿拉爱上海同城vironmentally dangerous. FASNY purchas上海贵族宝贝论坛 上海贵族宝贝ed the 129-acre property in 2011 and had originally planned to host 950 students there but revised the plan in response to forceful opposition to the proposal. [Lohud]

Tags: Westchester Fairfield
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115 Mercer Street

Manhattan retailers threatening to get out of Dodge if landlords don’t cut rent Retailer wants Thor to lower its rent at 115 Mercer Street

115 Mercer Street and Joseph Sitt

Facing high costs a上海贵族宝贝论坛 上海贵族宝贝nd lower than expected profits, retailers on some of Manhattan s most expensive thoroughfares are trying to get landlords to give them a break on rent.

For instance, the Kooples, a French clothing seller, is threatening to leave its space at Thor Equities 115 Mercer Street six years ahead of when its lease expires if the landlord doesn t reduce the rent, Bloomberg reported.

“We were expecting much higher income,” Elodie Barbe, a spokesperson for the Kooples, told Bloomberg. “We are under discussions with the landlord to see what is possible.”

Property owners in Manhattan have increasingly granted rent reductions and inked shor爱上海同城手机版 新爱上海同城对对碰论坛t-term leases in a bid to avoid rampant store vacancies. According to Cushman Wakefield, some 11,000 stores may close in the U.S. in 2018.

“Landlords are adjusting the way they do business to market conditions,” Patrick Smith, a vice chairman of the retail brokerage at Jones Lang LaSalle, said “It’s healthy. It certainly has stimulated activity.”

Last week, The Real Deal reported that Thor lo上海千花网论坛 上海千花网st most of its interest in three retail-and-office properties due to unpaid debt to its joint-venture partner. It s unclear if Thor will agree to lowering the Kooples rent, which is $650 per square foot for its space.

An analysis by TRD in 2017 found that reta[……]

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Most Active Architects NYC

Here are some of the biggest projects NYC s top architects are working on right now The city’s most active design shops are taking on bigger and bolder projects

New York s skyline has been filling up with one tower after another, and many of these projects are being designed by the top architecture firms in the city. Who are they, and what are they designing? Here s a look at their largest projects.

A rendering of 606 West (Credit: Arquitectonica)

1) SLCE Architects | Arquitectonica
Project: 606 West
Location: 606 West 57th Street
Size: 998,526 square feet

The largest project for SLCE Architects is 606 West 57th Street, where the firm is the architect of record. The design architect is Arquitectonica. The latest residential addition to Hell s Kitchen will have amenities you d expect from a project so big: a 24-hour attended lobby, sun terraces, fitness center, basketball court, bicycle storage, club room and party room.

And the cheapest 3-bedroom apartment start at $917 per month.

2) Hill West Architects
Project: SKY
Location: 605 West 42nd Street
Size: 935,043 square feet

Sky

This 60-story luxury rental tower features a pumpkin sculpture by Yayoi Kusama (she of Infinity Mirrors fame) 爱上海同城论坛 爱上海同城at its entrance. Aside from the usual amenities, the way it looms above 42nd gives an unobstructed view of the city from its glass balconies.

3) Dattner Architects
Project: HUB
Location: 333 Schermerhorn Street, Brooklyn Heights
Size: 627,394 square feet

Did we run out of brick, or run out of glass[……]

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Rockville Centre offices sold to Westbury investors

Valley East Properties, of Westbury, bought a上海贵族宝贝交流区 上海贵族宝贝论坛 five上海夜网 阿爱上海同城-story office complex in Rockville Centre for about $22 million, according to Long Island Business News. The 141,000-square-foot complex holds上海贵族宝贝交流区 上海贵族宝贝论坛 two buildings that together are 92 percent occupied by offices and medical tenants. With the sale, Valley East now owns more than 1 million square feet of offices on Long Island, according to a company statement. The Rochlin Organization’s Adam Rochlin represented the buyer while the seller was represented by Jose Cruz and Kevin O’Hearn of HFF. Rochlin and his colleague Michael Lev上海千花网龙凤论坛 上海千花社区enstein will be the leasing agents on the property. [LIBN]

Tags: long island
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Union Square

It looks like a 21-story tech building could be coming to Union Square Building dubbed the Union Square Tech Training Center would span 240K sf

A rendering of 124 East 14th Street (Credit: NYCEDC via Curbed NY)

The City Council’s land use committee voted unanimously on Thursday in favor of bringing a 21-story tech building to Union Square.

The building is known as the Union Square Tech Training Center and comes from RAL Development.  It will span 240,000 square feet at 124 East 14th Street, currently the home of a P.C. Richards, according to Commercial Observer.

Tech training nonprofit Civic上海千花网交友 上海千花网论坛 Hall will be the anchor tenant on the fourth through seventh floors, and the second through fourth floors will contain 40,000 square feet for workforce developme爱上海同城论坛 爱上海同城nt programs. The building will a上海贵族宝贝论坛 上海贵族宝贝lso include ground-floor retail and a food hall.

Floors eight through 12 will have affordable office space for companies in their early stages with rents at about $50 per square foot, while the top eight floors will be reserved for market-rate office space.

The site is owned by the city, and RAL will pay it $2.3 million a year on a 99-year ground lease. The project is expected to cost $250 million and create 600 jobs. The full City Council will vote on it o上海千花网论坛 上海千花网n Aug. 8. [CO]  – Eddie Small

Tags: Commercial Real Estate, Development, Tech
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China Bond Market

Chinese developers look to international bond market amid default troubles Fourteen top developers in China have issued bonds worth about $8.6 billion as of January 2019

(Credit: iStock)

Chinese developers are increasingly seeking to raise money on the international bond market, even as default rates skyrocket.

Fourteen top developers 上海贵族宝贝交流区 上海贵族宝贝论坛in上海贵族宝贝交流区 上海贵族宝贝论坛 China have issued offshore bonds worth about $8.6 billion as of January 2019, more than double the amount from the same time last year, the South China Morning Post reported.

Some Chinese developers have st阿爱上海同城 阿拉爱上海同城ruggled amid a slowing housing market in Hong Kong and in mainl阿拉爱上海同城 爱上海龙凤419桑拿and China. In one case, Zhejiang-based developer Jiayuan International s stock fell by 80 percent amid concerns that it would not meet its $350 million in debt obligations, according to the SCMP.

But investors, in pursuit of higher returns, are buying the bonds of these Chinese companies. Analysts say investors are also hoping that China’s central government recent decision to ease some of its restrictions on bank lending will help developers. Some Chinese cities have also removed resale restrictions, according to the SCMP.

Default risk at many of these Chinese real estate companies is still high. The number of defaults at China’s highly leveraged companies rose to 119 in 2018 from 35 in 2017, SCMP reported. [SCMP] Keith Larsen

Tags: china, Commercial Real Estate Avra Jain sells waterfront Venetian Islands homeBillionaire Michael Dell is buying the[……]

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Neverland

Michael Jackson’s former Neverland Ranch relists at sharp price chop The 2,700-acre property, steeped in controversy, first listed for $100M in 2015

Michael Jackson and Neverland Ranch (Credit: Getty Images)

It’s the上海千花社区 上海千花网交友 “Neverland Ranch” that never seems to sell.

After nearly four years and at least four agents’ efforts, the 2,700-acre former home of the late pop star Michael Jackson is getting another price chop.

The property is returning to the market for $31 million, less than a third of its original asking price of $100 milion in 2015, the Wall Street Journal reported.

The ranch, which is about 40 miles from Santa Barbara, had a hefty discount in early 2017. Then the sellers — a fund managed by Colony Capital and Jackson’s estate — slashed the price to $67 million.

The latest broker to list the renamed “Sycamore Valley R爱上海龙凤419桑拿 上海龙凤论坛sh1fanch” is Suzanne Perkins of Compass. Perkins was among the agents who originally listed the property in 2015. She told the Journal t爱上海同城 爱上海hat the ranch failed to sell then because “a price tag of $100 million is not chump change.”

The latest price chop comes as an HBO documentary, “Leaving Neverland,” which details Jackson’s alleged child sex abuse, is set to air next week.

Jackson paid $新上海贵族宝贝论坛 上海贵族宝贝交流区19.5 million for the Los Olivos property in 1987, but stopped living there following his 2005 molestation trial. Amid his mounting debt, Jackson failed to pay a $23 million loan on Neverland, and it almost went to auction before Tom Barrack’s Colony Capit[……]

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