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Construction begins on first East Hampton affordable housing project in 10 years

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Workers have begun preparing the Accabonac Road site that will become East Hampton’s first new affordable housing project in nearly 10 years. Three “manor house” buildings will contain 12 condominium apartments on the three-acre property, which was formerly the Accabonac Tennis Club, 27 East reported. The town purc上海贵族宝贝 上海千花网龙凤论坛hased the plot in 2008, but t上海贵族宝贝 上海千花网龙凤论坛he plan to build affordable housing has lagged since. The price for each condo is expected to be between $150,000 and $300,000, 爱上海同城对对碰 爱上海同城论坛and officials hope the first residents can mov上海贵族宝贝 上海千花网龙凤论坛e in before n上海贵族宝贝论坛 上海贵族宝贝ext Thanksgiving. [27 East]

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Blackstone Group

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CIM Group scores $360M loan for acquisition of 1440 Broadway Los Angeles-based firm bought the property from NY REIT for $520M

CIM Group s Shaul Kuba and 1440 Broadway

Los Angeles-based CIM Group landed a $360 million loan to close on its $520 million purchase of 1440 Broadway, one of the last buildings in the dwindling New York REIT portfolio.

The Blackstone Group provided the financing to CIM Group. The deal closed on Tuesday, and the floating-rate debt has a five-year term, the Commercial Observer reported. The loan was made at a 60 percent loan-to-cost. The Real Deal first reported news of the building going into 上海贵族宝贝论坛 上海贵族宝贝contract in November.

CBRE and Eastdil Secured co-arranged the financing play and also co-marketed the property for sale.

The 25-story, 749,000-square-foot上海千花网交友 上海千花网论坛 property is 40 percent leased, sources told TRD in November, and the Los Angeles-based buyer plans to focus on leasing the remainder of the space.

New York REIT has been liquidating its holdings following a campaign by activist investors and an accounting scandal at American Realty Capital Properties, which formerly was in control of the REIT.

Blackstone has had a busy month as well, purchasing a 49 percent stake at One Liberty Plaza from Brookfield Property Partners ea上海龙凤论坛 新上海贵族宝贝论坛rlier in Decembe爱上海龙凤419桑拿 上海龙凤论坛sh1fr for $1.55 billion. [CO] – Eddie Small

Tags: 上海千花社区 上海千花网交友blackstone group, CIM Group, Commercial Real Estate, New York REIT
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Airbnb

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Airbnb dealt another blow in Santa Monica A judge’s ruling supports the city’s strict home-sharing ordinance

Santa Monica skyline (Credit: Wikimedia Commons)

Santa Monica has gotten tough on Airbnb and HomeAway, and now it’s getting support in the courts.

A U.S. District Court judge handed the city a preliminary win in its two-year battle to severely restrict the home-sharing companies’ ability to op上海千花网论坛 上海千花网erate.

Judge Otis Wright denied an injunction that sought to suspend the city’s ordinance regarding home-sharing rental platforms while the parties duke it out in court, according to the Santa Monica Daily Press.

Along with imposing taxes on short-term rentals, the ordinance requires that hosts be present while renting their spaces to guests.

The two platforms, which sued the city over the ordinance in 2016, have two weeks to appeal Wright’s 上海同城对对碰交友社区 上海夜网论坛decision. The上海龙凤论坛sh1f 上海龙凤论坛 district court is scheduled to hear the city’s motion to dismiss the lawsuit on March 26.

Airbnb and HomeAway’s request for an injunction was based on their argument that Santa Monica’s ordinance violated the company’s First Amendment rights, among others, according to the Daily Press.

The ruling comes a few weeks after the city published a report claiming only 187 of the 950 estimated short-term rentals in Santa Monica complied with the law over a two-year period. The city estimated that Ai上海千花网论坛 上海千花网rbnb made $31 million in Santa Monica over that period.

Airbnb hasn t fared well in other L.A. County cities lately. Last week, West Hollywood banned renters from subletting their apartments on the site.

The L.A. City Council could soon debate a law that would greatly limit the numb上海千花社区 上海千花网交友er of days a host could rent their properties on the service as well.

Hosts reportedly skirted the ordinance by falsely claiming their rentals were across the border in the city of Los Angeles and even by taking down listings during business hours at Santa Monica City Hall to dodge city regulators. [SMDP] — Dennis Lynch

Tags: Airbnb, Santa Monica, tech
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Paul Massey

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Paul Massey working on building new brokerage Ex-Massey Kna阿爱上海同城 阿拉爱上海同城kal leaders have already come on board

From left: Paul Massey, Neil Heilberg, Michael Wlody and 275 Madison Avenue (Credit: LinkedIn)

Paul Massey is working on building a new commercial brokerage, and to do so, he’s bringing on some familiar faces from the old Massey Knakal Realty Services te阿爱上海同城 阿拉爱上海同城am.

Since leaving Cushman Wakefield earlier last month, Massey’s hired former Massey Knakal chief financial officer Michael Wlody and chief operating officer Neil Heilberg to help build the new business, he told The Real Deal.

“It’s going to be a brokerage that will be focused on combining debt brokerage and sales brokerage and heavy on data science, bring transparency to that market,” he said of the as-yet-unnamed company.

Massey said he’s looking to launch the firm, which will focus on the middle market, later this summer.

Adrian Mercado, Massey Knakal’s former head of IT and research, is also said to be planning to join the new company.

Wlody had worked as the treasurer of the fundraising committe上海夜网论坛 上海夜网e for Massey’s unsuccessful run for mayor last year.

Massey took some office space at 275 Madison Avenue after leaving Cushman ear阿拉爱上海同城 爱上海龙凤419桑拿lier last month, where he’s worked since he and partner Bob Knakal sold their eponymous brokerage to the firm in late 2014. Knakal爱上海龙凤419桑拿 上海龙凤论坛sh1f s contract at the firm expires in July.

Former Massey Knakal partner James Nelson also recently left Cushman to join Avison Young, where he’s been working to build a brokerage team.

Mark Maurer contributed reporting. 

Tags: Commercial Real Estate, massey knakal realty services, paul massey
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E

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Developers are scrambling to meet growing demand for warehouse space E-commerce is driving up demand for industrial sites

An Amazon distribution center (Credit: iStock)

With manufacturing on the decline, developers are increasingly turning old industrial buildings into上海夜网论坛 上海夜网 distribution centers.

According to a report by Newmark Knight Frank, e-commerce is driving demand for industrial properties that can be repositioned into 上海贵族宝贝交流区 上海贵族宝贝论坛or demolished to make way for distribution centers. Many of these warehouses are located in northern and central New Jersey, where sites offer quick access to highways, 上海千花社区 上海千花网交友rails and ports. In Piscataway, the Rockefeller Group is turning a 228-acre site — formerly home to a Dow Chemical plastics factory — into five buildings that will span 2.1 million square feet for distribution use. Best Buy is the project s first tenant, the New York Times reported.

In the past decade, the U.S. has lost roughly 640,000 manufacturing jobs, according to the Bureau of Labor Statistics. Thomas Hanna, president of Harvey Hanna Associates, said that while manufacturing isn t entirely dead his company couldn t make the economics work to keep a former General Motors assembly plant in Delaware as a factory for luxury cars. Instead, the company wi上海同城对对碰交友社区 上海夜网论坛ll raze the plant to make way for four buildings designed for the logistics industry.

“Logistics is the fastest-growing segment within the real estate industry,” Hanna said. “Everyone is trying to figure out how to get their product to the consumer the fastest.”

In 2014, Amazon opened a miniature warehouse in Manhattan at Vornado Realty Trust s 7 West 34th Street. Last year, the company announced that it would open 爱上海同城 爱上海its first large-scale distribution center in the city at Matrix Development Group s 546 Gulf Avenue in Staten Island. [NYT] — Kathryn Brenzel

Tags: Commercial Real Estate, Industrial Real Estate, Newmark Grubb Knight Frank, rockefeller group
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399 Exterior St

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The South Bronx could see another large
resi development A new waterfront site with 300K buildable sf just hit the market

399 Exterior Street in the Bronx (Credit: Pantheon Properties)

Another development site could be joining the South Bronx’s 上海千花网 爱上海同城对对碰residential boom.

The wate爱上海同城 爱上海rf上海龙凤论坛sh1f 上海龙凤论坛ront property at 399 Exterior Street 上海贵族宝贝交流区 上海贵族宝贝论坛is on the market, with owner Pantheon Properties aiming to get more than $30 million for it, Crain’s New York reported. The site has room for about 300,000 square feet of residential space.

This is one of the last large scale residential development sites that is available along the water in Mott Haven and we believe demand will be strong, said Jason Meister, an Ackman Ziff sales broker marketing 399 Exterior Street. The feeling right now among residential developers is there isn t a lot of upside in most markets in the city. But the South Bronx is one of the few areas where builder上海千花社区 上海千花网交友s still see opportunity for growth.

The lot is currently used for parking — and is less than a mile away from the sites Brookfield Property Partners acquired earlier this year. Brookfield is developing one of the largest projects in the Bronx, with plans for about 1,300 new apartments at 2401 Third Avenue and 101 Lincoln Avenue.

Meister told Crain’s the site has also drawn interest because it’s in an Opportunity Zone. [Crain’s] — Meenal Vamburkar

Tags: Bronx, Development, Residential Real Estate
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Meyer Orbach

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Here s what the $20M-$30M NYC 上海龙凤论坛sh1f 上海龙凤论坛investment sales market looked like last week Four Winds Real Estate buy two UWS buildings for $22M

Clockwise from left: 56-85 49th Street in Queens, 157 West 18th Street, 4-6 and 8-10 West 108th Street (Credit: Google Maps)

A California company picked up an industrial property in Maspeth, and Meyer Orbach sold once again in the Upper West Side. Here are the details on last week s $20 million to $30 million investment sales market in New York City, per documents recorded with the New York City Department of Finance.

1.) Terreno Realty Corporation bought an industrial transshipment property near the Brooklyn-Queens Expressway for $24 million. The building at 56-85 49th Street has about 18,000 square feet and 36 dock-high loading positions and is leased to one tenant. The property s estimated stabilized cap rate is 5.3 percent, according to the San Francisco-based company s press release on the deal. The deed indicates that another parcel at 3 49th Lane also was included in the deal. The seller was J.T. Enterprises, L.P.

2.) Midtown Electric Supply sold it上海夜网 阿爱上海同城s long-time home at the seven-story 157 West 18th Street for $23.2 million to Caspi Development. In the fall, Caspi and its partners sold two office buildings in the Lower East Side to Marx Realty for $48.5 million.

3.) Meyer Orbach closed on his sale of two contiguous apartment buildings in the Upper West Side to David Schneiderman s Four Winds Real Estate. The price tag for 4-6 and 8-10 West 108th Street, steps from Ce上海同城对对碰交友社区 上海夜网论坛ntral Park, was $22 million. Orbach bought the six-story walkups,上海夜网论坛 上海夜网 which have 48 units combined, for $12.25 million in 2013. Argentic Real Estate Investment LLC provided $15.4 mi爱上海同城对对碰 爱上海同城论坛llion in financing.

Tags: Commercial Real Estate, Investment Sales
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Notre Dame Cathedral Fire

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France unveils international design competition for N新上海贵族宝贝论坛 上海贵族宝贝交流区otre Dame spire France plans to hold an international competition to replace it

Notre-Dame Cathedral seen at sunrise following the major fire (Credit: Getty Images)

France plans to hold an international competition to come up with a replacement design for Notre Dame Cathedral s spire, which was destroyed in a fire on Monday.

The competition will address whether the spire should be rebuilt at all and, if so, whether it or not it should be identical to the one destroyed, according to the Wall Street Journal.

The 上海千花网交友 上海千花网论坛spire destroyed in Monday’s fire was a recreation from the 19th century of an older spire that became unstable and was taken down in the 18th century.

France’s goal is to rebuild the entire cathedral within five 上海贵族宝贝论坛 上海贵族宝贝years上海千花网 爱上海同城对对碰, an ambitious time frame. Multiple experts told the Journal they would expect completion to take closer to 10 or 15 years.

“These buildings deserve to be looked after and repaired,” said John David, master stonemason who helped repair England’s York Minster cathedral after a fire. “There shouldn’t be any rush.”

French billionaires Bernard Arnault, chairman and CEO of LVMH Moët Hennessy Louis Vuitton SE, and François-Henr新上海贵族宝贝论坛 上海贵族宝贝交流区i Pinault, founder and CEO of Kering, announced Tuesday that they would donate a combined 300 million euros, or about $339 million, to restoration efforts. [WSJ] – Eddie Small

Tags: Architecture and Design, Notre Dame Cathedral
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” control ” course of evolution of inchoate version and game of testimony of contrast of final finished product

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Of Remedy atelier ” control ” it is subject matter of a science fiction the 3rd person shoots play, predict to PS4, Xbox One and PC are landed inside year this year. ” control ” will use ” quanta is broken ” engine development, the player will be used in this making exceed capacity, join on foundation of traditional fire mechanism play a way particularly. ” control ” inchoate development version has a lot of flaws, do not cross what announce recently to demonstrate video to let us see a lot of improvement however. What this paragraph of video reveals is 2018 E3 exhibits what can go up to try play Demo, more inchoate than what announce at first version has a lot of improvement, and at present ” control ” still undertaking developing, the version of may final put on sale still can have be optimized further and improve. ” control ” will land PS4, Xbox One and PC 2019.[……]

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Came quickly really! Isle beautiful husband is basked in go out and ” death is hard and fast ” slope of Japanese sound actor group photo of this true damask silk

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Beautiful husband of isle of legend game producer already the your work of exposure for a long time ” death is hard and fast ” always give off bit of message from time to time, the appetite of condole sufficient player, pushing again today bask in especially went out to know fame actor slope with Japan the group photo of this true damask silk and Jintianjiancilang, claim ” death is hard and fast ” dub of active transcribe Japanese, look game came quickly really. · ” death is hard and fast (Death Stranding) ” it is the open world that by isle Production the SIE that make issues kind the movement is interactive game, it is the atelier of isle beautiful husband and isle that make (first work that after Kojima Productions) becomes independent from Kelemei, publishs, get player attention fully, in game the player can enjoy the freedom of exploration to spend already, also can experience the gut element with consistent game of isle beautiful husband, at the same time game still will provide online content. · latest news explodes piece, still not be nevertheless ” death is hard and fast ” straightforward information, isle beautiful husband is basked in went out to mix ” death is hard and fast ” slope of Japanese sound actor the group photo of this true damask silk and Jintianjiancilang, color is very pretty good, claim to be in dub of active transcribe Japanese. The player expects long already ” death is hard and fast ” came quickly really probably. [……]

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