Million Dollar Listing NY

Million Dollar Listing New York : Spare no costs and definitely don t say sorry Recap of Season 5, Episode 6

On this week s episode of Million Dollar Listing New York, our three heroes make one thing clear they re willing to do anything to get the job done.

Whether it s crashing a top developer s suite at a Nets game, tolerating a co-broker who absolutely despises every fiber of your being or dropping thousands of dollars to become a pop culture icon, our three heroes are ready and eager to put their pride aside and money on the table to hear the three most coveted words in real estate: It s a deal.

Fredrik

Fresh off conquering Williamsburg, Fredrik sets his sights back on Noho, which, if you’ve heard, is definitely the new Soho. This time, he must “create a record that’s pretty tough to beat for a very long time” according to Madison Realty Capital’s Dan Cobleigh, whose firm commissioned Fredrik to market 1 Great Jones Alley. Dan wants $3,000 per square foot for his precious pads, but Fredrik ultimately sets the bar at a more reasonable $2,850 per square foot. The kitchens may have been carved alongside the Sta爱上海龙凤419桑拿 上海龙凤论坛sh1ftue of David, but this development still ain’t the Schumacher.

Because he wants the open house to reflect the neighborhood’s artistic roots, Fredrik drops $9,000 to be transformed into Andy Warhol, though maybe he looks more like Meryl Streep’s character in “The Devil Wears Prada”? The Swedish-tinged Warhol shtick seems to work, and Fredrik’s method-acting lands[……]

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196 Orchard Street

Ben Shaoul scores $195M loan for 196 Orchard Senior construction mortgage from SL Green for LES condo replaces previou阿爱上海同城 阿拉爱上海同城s financing

Rendering of 196 Orchard Street and Ben Shaoul (credit: Michael McWeeney)

Ben Shaoul’s Magnum Real Estate Group secured a $195 million senior construction loan from SL Green Realty for its new Lower East Side condominium project next to Katz’s Deli, sources t上海千花网论坛 上海千花网old The Real Deal.

The senior loan for the project at 196 Orchard Street replaces the existing $97 million loan that SL Green provided last year for pre-development and acquisition costs, sources said.

The 11-story building will hold 96 apartments as well as about 50,000 square feet of retail space. Magnum, which received approval上海夜网论坛 上海夜网 from the New York Attorney General’s office for the condo offering plan in May, is projecting a residential sellout of $206.9 million, state records show.

Apartment sales launched this week at the project, where units range in price from $1.1新爱上海同城对对碰论坛 上海同城对对碰交友社区 million to $5.6 million. The average price per square foot comes out to $2,275.

The Ismael Leyva-designed project’s total construction cost is said to be in the low-$200 million range, sources said. Foundation work is about 阿拉爱上海同城 爱上海龙凤419桑拿to begin, sources said.

Magnum is developing the building in partnership with Real Estate Equities Corporation. The firms paid $75 million for an assemblage of three adjacent parcels in 2014.

A JLL team led by Aaron Appel brokered the financing deal. Appel and Shaoul declined[……]

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Sag Harbor Fire

Cause of Sag Harbor fire will never be known: fire officials Buildings were so badly damage新爱上海同城对对碰论坛 上海同城对对碰交友社区d that further investigation is reportedly impossible

The cause of last month’s catastrophic fire along Main Street in Sag Harbor is unlikely to ever be determined, fire officials said.

Compass and Brown Harris Stevens’ offices in Sag Harbor, as well as a historic cinema, were destroyed in a massive fire that tore through Main Street on Dec. 16. East Hampton Chief Fire Marshal David Browne told the New York Post that, because two buildings were razed, is impossible to really know the cause.

“A lot of what was there was gone,” he told the Post. “There’s not much we can really find.”

East Hampton Fire Marshal Tom Baker said his decision to cut power in the area immediately afte上海千花网 爱上海同城对对碰r the fire also makes it difficult to understand the cause. He requested the p上海夜网论坛 上海夜网ower be cut to keep the 300 firefighters safe, but it now means he is unable to assess the voltage at the time of the blaze.

Baker has ruled 上海同城对对碰交友社区 上海夜网论坛out cigarettes as the cause of the fire, despite some reports cigarette butts were found nearby.

“We found cigarette butts everywhere 上海千花网龙凤论坛 上海千花社区in Sag Harbor,” he said. “We can’t pinpoint the fire to a cigarette and we found burning in places where a cigarette couldn’t have gotten.”

After the blaze, Suffolk County fire investigators ruled out criminality, saying there was “nothing suspicious” about it. The investigation is now over, according to Baker, “unless someone co[……]

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Willets Point

To move forward, Willets Point developers might have to create 47 acres of parkland Following court victory, State lawmakers likely to ask for a massive park to o爱上海同城论坛 爱上海同城ffset mall project

Tony Avella and Willets Point rendering (credit: Getty Images and NYC EDC)

Getting state approval for a proposed Willets Point development that would include a mall and a movie theater could require the development team to create 47 acres of parkland.

The New York Court of Appeals ruled on Tuesday that a long-delayed proposal from Sterling Equities and Related Companies to turn the former site of Shea Stadium into a major development featuring commercial and residential space needed approval from the state legislature to move forward. And legislators will likely demand the replacement of parkland before allowing the project to proceed, according to Crain’s.

Locating 47 acres of land near Willets Point would be challenging, and purchasing it would be difficult as well. A previous proposal featuring a casino instead of a mall would have replaced 32 acres of park near the area of the project, but it is unclear exactly where that land was and if it remains available.

The Willets Point project was approved by the Bloomberg administration in 2012, a上海龙凤论坛sh1f 上海龙凤论坛n上海夜网 阿爱上海同城d the de Blasio administration eventually threw its support behind the project as well.  However, State Sen. Tony Avella and others had sued the city and the developers over the proposal, arguing that since the project was located on parkl[……]

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The 11

The former site of the Dutch-owned Akzo Nobel chemical plant near Ardsley recently上海贵族宝贝 上海千花网龙凤论坛 sold for $1.85 million to Environmental Liability Transfer, the上海贵族宝贝论坛 上海贵族宝贝 Westchester Business Journal reported. The new 爱上海龙凤419桑拿 上海龙凤论坛sh1fowner is a St. Louis-based assumption firm for environment liability. Parts of the site have already been redeveloped to accommodate 爱上海同城 爱上海retail spaces including Chauncey Square and Rivertowns Square. Environmental Liability Transfer plans to restore the contaminated area, where plans for an apartment complex were hotly contested, and eventually withdrawn, last year. [WBJ]

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NYC Hotel Market

These are the 5 hottest neighborhoods for hotel development in the outer boroughs LIC takes the top spot, with 45 new hotel projects planned since 2010

Long Island City has been the most popular outer borough neighborhood for hotels since 2010. (Credit: Getty Images)

When it comes to new hotels arriving in the outer boroughs, Queens is king—specifically Long Island City.

The waterfront neighborhood is the most popular spot by far for new hotels outside of Manhattan, with developers planning 45 projects for the neighborhood dating back to 2010, according to a data analysis by The Real Deal. Its closest competitor, Jamaica, was far behind with 26 projects. Williamsburg and Sunset Park were tied for third at 14 projects each, followed by Flushing with 12.

Long Island City is popular for hotels thanks to a combination of zoning flexibility and close proximity to Manhattan, accordi上海千花网论坛 上海千花网ng t上海同城对对碰交友社区 上海夜网论坛o George Xu, founder of the Queens-based real estate firm Century Development Group. He said the neighborhood is currently best suited for budget hotels built by local developers, as the luxury full-service market is still largely concentrated in Manhattan, and that the hotels cater to a mix of business and leisure travelers but skew slightly more toward leisure.

The largest hotel planned for Long Island City, for instance, is a branch of the economy hotel chain Toyoko Inn at 24-09 Jackson Avenue with 1,260 planned rooms. The company has more than 200 branches worldwide in places incl[……]

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Cadre Real Estate

Kushner brothers Cadre plans to launch debt business Startup wants to be “preeminent global marketplace for alternative investments”

Ryan Williams (Photo by Michael McWeeney)

UPDATED, March 9, 7:31 p.m.: Cadre, the real estate investment platform co-founded by Jared Kushner, is working on launching a real estate debt business.

The company could invest in its first loan as early as this year, according to CEO Ryan Williams.

Cadre runs what is basically an online real estate syndication platform: it buys equity stakes in commercial properties, keeps a small portion on its books and offers the rest in small slices to investors through its online platform.

“There’s a big opportunity to own the entire capital stack,” Williams said, explaining why the company plans to start investing in loans as well. The comp上海夜网 阿爱上海同城any could offer bridge and mezzanine loans, although no decision has been made. Williams said the firm plans to buy slices of existing loans and make them available to investors, as opposed to issuing its own loans.

The startup’s ultimate goal is to branch out beyond real estate into businesses such as private equity to become preeminent global marketplace for alternative investments,” Williams said.

Cadre was founded in 2014 by Blackstone Group and Goldman Sachs alum Ryan Williams and Joshua and Jared Kushner. In June 2017, the startup raised $65 million in venture funding from Andreessen Horowitz and others at a $800 million valuation. It previously landed a $250 millio上海千花网论[……]

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Freddie Mac

National Cheat Sheet: Home loan demand hits 4-year low, Freddie Mac CEO retiring … more

Clockwise from top left: Freddie Mac starts search for new CEO as current one plans to retire, home loan originations hit a four-year-low in the second quarter, JPMorgan Chase initiative will let cities compete for $500M in funding, and House Republicans introduce legislation to make tax cuts for individuals permanent.

Home loan originations hit a 4-year-low in the second quarter, report says
Interest rates are rising, and the demand for home loans has hit a four-year low, according to a new report. Between April and June of this year, mortgage originators completed 1.5 million loans — the lowest level of loans completed since the first quarter of 2014, and a 27 percent drop from the same period of time last year, an Attom Data Solutions report showed. The report indicated that foreclosures and delinquencies are on the rise in major U.S. cities, while down payments are skyrocketing, creating difficulty for people looking to buy their first homes. [TRD]

Freddie Mac starts search for new CEO as Layton plans to retire
Donald Layton, who’s been the CEO of Freddie Mac since 2012, is stepping down, according to the Commercial Observer. Layton plans to retire in the second half of 2019, and the agency will either replace him with David Brickman — who was promoted to president at the上海贵族宝贝论坛 上海贵族宝贝 agency and is the only internal candidate it’s considering — or an outsider. “Don has played an indispensable[……]

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