Month: June 2019

Hamptons Cheat Sheet

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Hamptons Cheat Sheet: New Yorkers winter on the East End, the biggest sales of 2016 … more

Some of 2016 biggest sales in the Hamptons

Counting down the Hamptons biggest sales of 2016 s

Although the Hamptons luxury market sputtered in 2016, celebrities and titans of industry certainly bought their fair share爱上海龙凤419桑拿 上海龙凤论坛sh1f of prime real estate. According to The Real Deal s analysis, the biggest sale of 2016 was a $110 million deal for 6.4 acres of waterfront land on Lily Pond Land in East Hampton. Serial Hamptons house flipper Michael Smith sold the three properties with nearly 300 feet of shoreline to natural gas mogul Matthew Smith.
The price is 爱上海同城手机版 新爱上海同城对对碰论坛the second-highest ever paid in the Hamptons, and one of the highest ever paid for a residential property in US of A. Other notable Hamptons buyers in 2016 incl上海龙凤论坛 新上海贵族宝贝论坛ude longtime “Today” host Matt Lauer, who snagged Richard Gere’s beachfront 12-bed, 12-bath house for $33.7 million, which was nearly 50 percent off initial list price. And wouldn t you know billionaire David Geffen would get in on the action, shelling out $70 million for two acres on Lily Pond Lane. [TRD]

No room left in the inn

With renovations now complete, the history-rich Otter Pond House in Sag Harbor has landed on the market as a private home for $4.6 million, 27 East reports. The former bed-and-breakfast 阿爱上海同城 阿拉爱上海同城features 4,700 square feet, six bedrooms, 6.5 baths, four fireplaces, a pool, and a stone patio. The house is situated between Otter Pond and Mashashimue[……]

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Mortgage rates hit highest level since 2014

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Mortgage rates have risen for seven consecutive weeks, pushing 30-year mortgages to their highest rate since April 2014, Freddie Mac’s Primary Mortgage Market Survey found. The rate for 30-year fixed-rate mortgages ended the week at 4.4 percent, which is up from 4.38 percent from the week before上海龙凤论坛 新上海贵族宝贝论坛 and 4.16 percent at the same time la爱上海同城对对碰 爱上海同城论坛st year, HousingWire 新爱上海同城对对碰论坛 上海同城对对碰交友社区reported. “Mortgage rates have followed U.S. Treasury’s higher in anticipation of higher rates of inflation and further monetary tightening by the Fede爱上海龙凤419桑拿 上海龙凤论坛sh1fral Reserve,” said Len Kiefer, Freddie Mac deputy chief economist. [HousingWire]

Tags: National
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Brooklyn Rental Market

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Juking the stats: Brooklyn s developers aim sky-high, but concessions tell the real story Developers want to maintain their listing prices, and th爱上海 爱上海同城手机版en futz with the numbers behind the scenes

(Credit from front: BagoGames/Flickr, Max Pixel)

Concessions are Brooklyn s worst-kept secret apparently.

In order to fill high-end luxury rental units about 48 percent of developers as of February are cutting deals with tenants to stave off the competition to the point where tenants receive free ren上海贵族宝贝论坛 上海贵族宝贝t for an average of 1.4 months, according to the New York Times. The number of concessions offered at the same time last year was around 16 percent.

A report prepared by Douglas Elliman appraiser Jonathan Miller found that concessions were most common as in offered 80 percent of the time in Brooklyn s most expensive neighborhoods: D上海千花网龙凤论坛 上海千花社区umbo, Downtown and Fort Greene.

“Developers want to maintain their listing prices, and then futz with the numbers behind the scenes,” CORE broker Paul Johansen told the Times. “A couple years ago, there were no concessions whatsoever.”

But developers aren t wringing their hands in despair; they re too busy building with more than 6,000 new units are slated to hit the market this year with close to 10,000 in t爱上海同城 爱上海he pipeline for 2019.

Real estate consultant Nancy Packes notes demand, population growth and the job market is strong; sh爱上海同城对对碰 爱上海同城论坛e expects the oversupply of units and their plush concessions to disappear by next year or 2020. She says thos[……]

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AB Capstone

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Wendy Silverstein, Meir Babaev and 1100 Kings Highway (Credit: CUNY TV)

AB Capstone s Meir Babaev is the majority buyer of two of New York REIT s retail properties for $30.5 million.

Babaev, along with a partner, purchased 1100 Kings Highway and 2067 Coney Island Avenue in Gravesend, documents filed with the city s Department of Finance on Friday. He owns a 70 percent stake in the properties. Investor Richard Harris purchased the remaining 30 percent, records show. The Real Deal reported in March that 2067 Coney Island Avenue was under contract.

Babaev wasn t 上海千花网 爱上海同城对对碰immediately available to comment on the deal.

The adjacent properties are fully leased, with tenants including C上海千花网论坛 上海千花网hase 上海千花网论坛 上海千花网Bank, Dressbarn and Annie Sez. According to marketing materials, the two buildings generate nearly $2.5 million in annual gross revenue and net $1.8 million in annual operating income. The two properties span a little over 43,000 square feet.

Cushman Wakefield marketed the properties.

The sale is part of New York REIT s planned上海夜网 阿爱上海同城 liquidation of its 4.4 million-square-foot portfolio, announced back in December 2016. The company, led by Wendy Silverstein, sold the first of its retail properties in January.

Tags: Commercial Real Estate
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Pam Liebman

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Pam Liebman signs on to The Real Deal s South Florida real estate event The Corcoran brokerage chief joins Howard Lorber, Mauricio Umansky and more

The Real Deal is excited to announce the addition of Corcoran Group president and CEO Pam Liebman to our roster of panelists for our South Florida Real Estate Showcase and Forum on Oct. 25 at Mana Wynwood!

Buy your tickets today 

Liebman will join The Agency s Mauricio Umansky — also of The Real Housewives fame — and Douglas Elliman s Howard Lorber to talk about the ups and downs of brokerage. Turnb上海夜网论坛 上海夜网erry s Jackie Soffer and East End Capital s Jonathon Yormak will be among the experts sharing insights on our commercial panel, while Aria Development s David Arditi will kick off our discussion on hospitality and the trend in hotel-branded residences. Also in the mix are Moishe Mana, Louis Birdman, Kieran Bowers and Michael Stern, who have signed on for our top developers panel.



The event will bring together 5,000 industry insiders and 100 exhibitors for a full-day of market insights, networking opportunities, exposure to the latest real estate developments and products, and food and drink from a host of local merchants. Current sponsors include Popular Bank, BSH Appliances, Citibank, Samsung, Great Gulf, GE Appliances, BHS Florida, Meredith Baer Home, Global Pro Recovery, Securitize, Bixby, Grove / BTI Partners, Porcelenosa, Fortune International, Douglas Elliman, Liebherr, Consultatio, Meridian Cap爱上海同城论坛 爱上海同城ital, Lynx Companies, R[……]

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Compass

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Compass hires Solil s Brett Weinblatt, rounding out NYC commercial offerings His team will focus on retail and industria上海贵族宝贝 上海千花网龙凤论坛l上海夜网论坛 上海夜网 leasing

Brett Weinblatt and Robert Reffkin (Credit: Adam Pincus)

With investment sales and office leasing teams in place, Compass is beefing up its comme上海千花网论坛 上海千花网rcial offerings in New York with the hiring of another veteran agent.

The SoftBank-backed brokerage brought in longtime Solil M上海夜网论坛 上海夜网anagement agent Brett Weinblatt last week, to head a team focused on retail and industrial leasing throughout the city, according to PincusCo.

Compass announced its arrival in the commercial space last August, with the hire of Eastern Consolidated s Adelaide Polsinelli to join its investment sales division. Polsinelli had become a free agent as result of Eastern s shuttering in June.

A month later, Compass received another massive injection of funds, with SoftBank’s Vision Fund and Qatar Investment Authority raising $400 million for the firm, at a valuation of $4.4 billion. This was more than double its valuation in December 2017, when SoftBank invested $450 million in the company.

In December, Compass further dive上海千花网论坛 上海千花网rsified its commercial business with the hire of James Emden from Colliers International to lead its office leasing vertical.

Weinblatt had been Solil s lead agent since 2009, and his major deals there included a 475,000-square foot industrial lease for UPS in Maspeth in 2017, and a 12,000-square foot lease for Chik-fil-A at 711 Lexington Av[……]

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