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plans to restore the contaminated area, where plans for an apartment complex were hotly contested, and eventually withdrawn, last year.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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Zillow Offers

Zillow expands home-buying program to Riverside, CA Program allows sellers to get a cash offer from Zillow, who then flips the property

Spencer Rascoff and Riverside, California, skyline

Zillow is expanding its direct-to-consumer home-buying program to Riverside County, making it the eighth market nationwide to see the platform — and the first in California.

Zillow Offers, formerly Instant Offers, lets sellers take an offer from the home-buying giant, which then flips the home after some renovations. The program will launch in the Inland Empire city early next year.

Zillow is among many companies ge爱上海同城对对碰 爱上海同城论坛tting in on the large-scale home-flipping game, also called the iBuyer model. Redfin, Zillow s rival, has also launched an iBuyer program called Redfin Now, including in Riverside. Opendoor, a startup built around the concept, is also active in Riverside. There are numerous other startups that have formed around the industry.

Such iBuying programs are meant to appeal to sellers who need or want to move their homes quickly for cash. Seller新爱上海同城对对碰论坛 上海同城对对碰交友社区s choose their own closi爱上海同城论坛 爱上海同城ng date after accepting an offer, and Zillow arranges a complimentary home inspection before closing.

Zillow piloted the program in Las Vegas and Orlando in May 2017 and has steadily expanded it to markets around the country. Riverside is the first Southern California city to see the program. It’s also operational in Phoenix, Arizona; Atlanta, Georgia; and Denver, Colorado. Zillow plans to launch in N[……]

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Airbnb

Airbnb to buy HotelTonight, marking company s biggest acquisition The startup is expanding its offerings as it prepares for an IPO

From left: Airbnb CEO Brian Chesky and HotelTonight CEO Sam Shank (Credit: Getty Images)

Airbnb is expanding its portfolio of lodging services with 爱上海同城手机版 新爱上海同城对对碰论坛its上海贵族宝贝交流区 上海贵族宝贝论坛 planned acquisition of HotelTonight.

The deal, which is reported to be valued around $465 million, would be Airbnb s largest acquisition to date, according to the New York Times. That figure is reportedly close to Hotel Tonight s most recent pr上海龙凤论坛sh1f 上海龙凤论坛ivate valuation.

The purchase of HotelTonight, which offers last-minute hotel bookings to customers, will bolster Airbnb s competitive stance against Expedia and Booking Holdings, the parent of Booking爱上海同城对对碰 爱上海同城论坛.com and Priceline.

Airbnb, which is now valued at $31 billion, has i爱上海同城手机版 新爱上海同城对对碰论坛ncreasingly diversified its platform as it gears up for an initial public offering. The company has been looking to attract a wider range of travelers by listing boutique and luxury hotels.

The short-term holiday rental platform has been fending off an effort from local politicians in New York City to crack down on its presence. The city has conducted multiple raids in buildings across the city where apartments are being leased without a host present.

Led by Sam Shank, HotelTonight was founded in 2010 and has since raised $127 million in venture capital funding. In 2016, the company said it would go public, but those plans never materialized. [NYT] — Da[……]

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Trump Organization

Trump Org files lawsuit to block subpoena of financial statements House Oversight Panel is seeking 8 years worth of documents

President Donald Trump and Elijah Cummings (Credit: Getty Images)

Facing a subpoena from the House Oversight Commi上海同城对对碰交友社区 上海夜网论坛ttee, the Trump Organization is fighting back.

In a lawsuit filed on Monday against Democratic committee chairman Elijah Cummings and the accounting firm Mazars USA LLP, the Trump Organization is seeking a court order to block the subpoena of eight years worth of the company s financial statements, the Wall Street Journal reported.

The subpoena threatens to expose Plaintiffs’ confidential information and lacks ‘a legitimate legislative purpose,’ lawyers for the organization say in the lawsuit.

The House Oversight Committee subpoenaed Mazars last week for financial statements from 2011 through 2018 pertaining to President Trump, the Trump Organization and other related entities, as well as memos, notes and communications that contributed to the pr爱上海同城对对碰 爱上海同城论坛eparation of those documents.

The committee has full authority to investigate whether the president may have engaged in illegal conduct before and during his tenure in office, Cummings said in an April 12 letter advising the committee of the subpoena.

The letter cited the February testimony of former Trump lawyer Michael Cohen, who said that Trump had inflated his pro新上海贵族宝贝论坛 上海贵族宝贝交流区perty values to obtain a loan from Deutsche Bank. Several of the financial statements Cohen turned over to t[……]

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