Olshan Realty Inc.

21 contracts signed at $4M and above: Olshan Top contract was $15.9M condo at the Grand Millennium

Luxury buyers scooped up 21 p新爱上海同城对对碰论坛 上海同城对对碰交友社区ads asking $4 million or more last week, according to Olshan Realty’s weekly market report. That figure pales in上海同城对对碰交友社区 上海夜网论坛 comparison to the 41 contracts signed during the same period last year.

上海龙凤论坛sh1f 上海龙凤论坛Instead, contract activity for the week of April 18-24 was roughly the sa爱上海同城 爱上海me as 2012, Olshan Realty reported.

The total weekly asking price sales volume was $184.3 million with an average asking price of $8.8 million. The average number of days on market was 244 days and the average discount – from the original asking price to the last asking price – was 8 percent.

The top contract was a 4,100-square-foot condo at the Grand Millennium at 1965 Broadway, which was asking $15.9 million. It was last purchased for $10.25 million in 2013, and has six bedrooms and 5.5 baths.

Next up was a combination爱上海 爱上海同城手机版 unit at 40 East 94th Street that was asking $14 million. Previously three smaller units, the 4,600-square-foot condo has five bedrooms, 4.5 baths, a media room and library. [Olshan Realty] – E.B. Solomont

Tags: donna olshan, NYC Luxury Market, olshan realty
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Michael Davis

Buyer of Trump s childhood home revealed Developer Michael Davis says he already has plans to flip the property

85-15 Wareham Place and Donald Trump

The mystery buyer who shelled out for Donald Trump’s childhood home in Queens has been unmasked.阿爱上海同城 阿拉爱上海同城 Manhattan real estate investorMichael Davis bought the home sight unseen for just under $1.4 million.

Davis pu爱上海同城论坛 爱上海同城rchased the five-bedroom, four-and-a-half-bath Tudor at 85-15 Wareham Place阿拉爱上海同城 爱上海龙凤419桑拿 in Jamaica Estates for $1,390,500, according to the New York Post.

Davis used th上海千花网龙凤论坛 上海千花社区e LLC Wareham Place Holdings to buy the house and was identified as the sole owner of the LLC by a recently filed deed.

Davis told the Post that he plans to flip the property at a Jan. 17 auction.[NYP] Christopher Cameron

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New York Building Congress

NYC construction salaries averaged $80上海千花社区 上海千花网交友K in 2016: report Jobs rose above 140K for the first time in decades, Building Congress study says

From left: Average construction employment and average wages (credit: Building Congress)

The average number of construction workers in New York City soared to 146,200 last year, marking the first time employment in the city has exceeded 140,000 in at least fo上海贵族宝贝 上海千花网龙凤论坛ur decades, according to a new report.

Specialty trade workers, a group that includes plumbers and electricians, accounted for a majority — 93,900 — of the construction jobs created in 2016, according to a report by the New York Building 上海夜网论坛 上海夜网Congress. Workers involved directly in building construction accounted for 43,300 jobs, while the heavy construction and civil engineering sector produced 8,900 jobs, according to the report.

Average annual wages for all construction workers jumped 5.4 percent to $80,200, the repo爱上海同城论坛 爱上海同城rt found. The heavy construction and civil engineering workers were the highest paid with an average salary of $116,800. That was a slight decrease from 2015 s $119,200, though the report notes that the drop may be due to a 阿爱上海同城 阿拉爱上海同城decrease in overtime.

“Like the rest of the job market, construction industry wages finally seem to be catching up to job growth after lagging behind for most of the economic recovery,” Building Congress president Carlo Scissura said in a statement. “While this is great news for individual workers and their families, it remains[……]

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Environmental opponent wages another lawsuit against Davenport Landing project

The $27.9 million mixed-use Davenport Landing project at Harbor Point in Stamford will be back in court again, conti新上海贵族宝贝论坛 上海贵族宝贝交流区nuing about five years of legal action with the city over demolition of a boatyard. An environmental group has brought suit against Stamford-based developer Buil上海龙凤论坛sh1f 上海龙凤论坛ding and Land Technology regarding the 25,7oo-square-foot boatyard and the 218-unit apartment complex which together sit on 4.4 acres. Norwalk-bas上海同城对对碰交友社区 上海夜网论坛ed nonprofit Soundkeeper alleged in the lawsuit that the city violat爱上海龙凤419桑拿 上海龙凤论坛sh1fed the s新上海贵族宝贝论坛 上海贵族宝贝交流区tate’s Coastal Area Management Act and the city’s zoning regulations in allowing the project to proceed. Davenport Landing is set for completion in 2018. [FBJ]

Tags: Westchester Fairfield
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Cornell Tech NYC

While many great achievements will undoubtedly come out of this new tech hive, great architecture is not likely to be one of them

The Emma and Georgina Bloomberg Center (credit: Matthew Carbone)

All New Yorkers should welcome the new Cornell Tech campus, which just opened its first buildings on Roosevelt Island. This ambitious project will only strengthen New York’s place in the world of tech development and will rival anything on the West Coast.

We can all thank Michael Bloomberg, who pushed the project while he was mayor and has since followed up with a $100 million donation to bankroll the campus’s epicenter: The Emma and Georgina Bloomberg Center. But while many great achievements will come out of this new tech hive, unfortunately great architecture is not likely to be one of them. That’s judging from the pallid master plan, conceived by Colin Koop of Skidmore, Owings Merrill, and from the first three buildings at the project.

Those buildings are the Bloomberg Center and the Bridge at Cornell Tech — which have both opened — as well as the nearly complete House at Cornell Tech, a residential building for students and faculty. Ground will soon break on the Verizon Executive Ed Center and the Graduate Roosevelt Island Hotel, which have both been designed by the international firm Snøhetta.

When complete in 2043, the 12-acre Cornell Tech engineering campus — a collaboration between Cornell University and Technion-Israel Institute of Technology — will have 10 buildings and 2.5 ac[……]

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City Council Real Estate

City Council passes bills on landlord transparency, construction penalties Many of the measu上海千花网 爱上海同城对对碰res voted on Tuesday will regulate the NY 上海千花网论坛 上海千花网real estate industry

From left: Qu阿爱上海同城 阿拉爱上海同城eens Hospital Center T Building, Melissa Mark Viverito, David Greenfield and a storage facility

UPDATED: Dec. 20., @ 5:11 p.m.: New York City Council passed several bills Tuesday that will affect real estate and housing in the five boroughs. Those include rezonings, new regulations for self-storage and for the department of Housing Preservation and Development to create a data portal for New Yorkers to see all properties owned by individual owners along with violations and tenant harassment data for each building.

The outgoing City Council Speaker Melissa Mark-Viverito opened comments on the bills by 上海贵族宝贝 上海千花网龙凤论坛saying she had no regrets about her time in the position and looked forward to civilian life.

The Council then voted on dozens of bills including many that will regulate the real estate industry in New York:

Self-Storage

Developers of self-storage facilities will now have to go to the city for a special permit to build on in the majority of New York s manufacturing zones. The permits would require council votes.

Landlord Data

The Council passed a bill requiring HPD to collect information on vacant buildings that might be suitable for affordable housing. It also passed a bill asking HPD to do something perhaps more ambitious: create a comprehensive website for New Yorkers to get up to date infor[……]

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Edward S. Gordon

Edward S. Gordon turned the industry on its head and jump-started the career of some of today’s top brokers

Edward S. Gordon in the pilot seat

Agents with specialties. Electronic databases that track tenants. Shiny shoes and suspender阿拉爱上海同城 爱上海龙凤419桑拿s.

In ways both substantive and superficial, the Edward S. Gordon Company, a firm that came to prominence in New York in the 1980s, was instrumental in creating the modern-day commercial-brokerage business.

A clear line can be drawn from that legacy to the firm’s namesake: a colorful character who generated tremendous good will before his death at the age of 65 in 2000, according to former colleagues, who populate the upper ranks (see sidebar) of real estate today.

“He had a great street sense, he understood people, and he was an incredible salesman,” said Stephen Siegel, CBRE’s chairman of global brokerage, who worked at Gordon’s company from 1992 until it merged with CBRE in 2003.

“Most people would turn and leave after someone said, ‘No, thank you,’” added Siegel, who eulogized Gordon at his funeral. But Gordon, he said, would persist until that person finally came around.

Over the years, Gordon’s firm amassed major clients including Sony, Chase Bank, Viacom, Donald Trump and the New York Times. And Gordon himself was known for turning around the Chrysler Building and other major Manhattan office towers.

He imposed his own style and flair on the business while introducing rules that are ingrained in the industry today, such as working in tea[……]

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Mortgage Loan Agencies

Are taxpayers subsidizing Fannie Mae, Freddie Mac s commercial mortgage biz? Critics say yes, while the agencies say there’s no other choice in expensive markets

(Credit from back: U.S. Air Force photo/Airman 1st Class Dillon Davis, ALLETE)

It s a question other lenders are asking more and more as they find themselves being beat by either Fannie or Freddie.

The reason the two loan agencies are outperforming institutional lenders is thanks to government insurance that allows them to charge lower rates than others, explains Real Capital Analytics Jim Costello in The Financial Times.

Since the crash上海夜网论坛 上海夜网, in addition to providing traditional loans for homeowner s mortgages, both agencies have been i上海同城对对碰交友社区 上海夜网论坛ncreasingly financing rental housing, taking on the risk for loans underwritten by commercial mortgage companies. Last year alone, they financed about 1.6 million rental units in the U.S. (In the fall, The Real Deal reported that Freddie was dominating multifamily lending in the New York area.)

Of these commercial mortgages, the government-backed lenders combined interests clocked in at a total of about $500 billion in 2017, compared to $200 billion ten years ago. The Times reports that Freddie and Fannie s main borrowers include Blackstone Group, Starwood Capital and Singapore’s sovereign wealth fund GIC among others.

“They play a critically important role in the underserved, affordable segment,” said New York University economist Sam Chandan to the T爱上海同城对对碰 爱上海同城论坛imes. “But do t[……]

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Energy service provider signs 12

Energy service provider signs 12-year l上海夜网论坛 上海夜网ease for 上海同城对对碰交友社区 上海夜网论坛two buildings, one lot in Port Chester

Robison Oil has signed a 12-year lease for two buildings and a parking and storage lot in Port Chester, the Westchester County Business Journal reported. 上海千花社区 上海千花网交友The energy service provider plans to move into a 16,400-square-foot industrial building and a 2,750-square-foot warehouse building on Ryan Avenue. The parking and storage lot is 35,000 square feet上海龙凤论坛sh1f 上海龙凤论坛, according to the outlet. “We have been searching for this type of property on Robison’s behalf for quite some time in order for its oil and biofuel operations to be located closer to the Purdy Avenue oil terminal and to strategically consolidate its various leased locations throughout Westchester,” GHP Office Realty LLC executive vice president Jamie Schwartz said. Before Robison Oil signed the lease, Verizon used the property for trucks and storage, the outlet reported. [WBJ]

Tags: Westchester Fairfield
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Gucci

Gucci s Soho store

Gucci has extended its lease in Soho for at least 10 years.

The company signed a short-term lease at 375 West Broadway last year, its first location in the neighborhood. Now, Gucci has extended its lease in the 10,000-square-foot space 上海夜网论坛 上海夜网for a decade or more, Crain s reported.

The details of the lease were not immediately available, but asking rents in Soho in the third quarter were an aver上海同城对对碰交友社区 上海夜网论坛age of $417 per square foot, according to Cushman Wakefield.

Another retailer, Woolrich, also expanded its footprint in Soho this week. The company inked a 10-year lease for 121 Wooster Street, an 8,000-sq新上海贵族宝贝论坛 上海贵族宝贝交流区uare-foot space next to its current location.

Earlier this year阿爱上海同城 阿拉爱上海同城, local officials began putting together a proposal to change Soho s zoning to allow more ground-floor retail and residential use. [Crain s] — Kathryn Brenzel 

Tags: Retail Real Estate, soho
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