Month: June 2019

Affinia Manhattan NYC

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Highgate, Isaac Chetrit to buy Affinia Manhattan NYC for $218M 618-key hotel across from Penn Station was part of Pebblebrook-Denihan split

Highgate s Mahmood Khimji (credit: Steve Friedman) and the Affinia Manhattan NYC (credit: Affinia)

Highgate, in partnership with Isaac Chetrit’s AB Sons and Ray Yadidi’s Sioni Group, is in contract to acquire the 618-key Affinia Manhattan NYC hotel in Midtown’s Penn Plaza district for $217.5 million, sources told The Real Deal.

The 28-story, 474,000-square-foot building at 373 Seventh Avenue was one of six Manhattan hotels at the center of a recent split between Pebblebrook Hotel Trust and Denihan Hospitality爱上海同城手机版 新爱上海同城对对碰论坛 Group.  Pebblebrook, a Maryland-based real estate investment trust, walked away with the Affinia Manhattan and the 252-key Dumont NYC. But the REIT had no plans of retaining its New York City assets and therefore hired Eastdil Secured and Hodges Ward Elliott to market both of them for sale.

Highgate, the Midtown- and Texas-based real estate investment firm co-founded by Mahmood Khimji, will serve as the property manager of the Manhattan NYC.

The deal went under contract earlier this week and is expected to close by year’s end for about $350,000 per key or $460 per square foot, sources said.

The four-star hotel was built in 1929 as the Governor Clinton. It is located at the corner of West 31st Street, across from New York Penn Station. Hotel room rates start at $197 per night.

Eastdil Secured’s Lawrence Wolfe and Michele Ma上海夜网 阿爱上海同城hl[……]

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Chrysler Building

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Old Met house

1930: Chrysler Building tops off without fatalities

The Chrysler Building reached its full height of 1,030 feet without any fatal injuries, the New York Times reported 87 years ago this month. The $20 million building became the tallest in the world, handily beating out the 792-foot-tall Woolworth Building, which had previously held that title. “It is the first time that any structure in the world has reached such a height…without loss of life,” wrote Walter P. Chrysler, the president of the W.P. Chrysler Building Corporation, in a letter addressed to the Building Trades Employers’ Association. The safety practices on the Midtown building had recently been endorsed by the assoc上海夜网 阿爱上海同城iation. All told, 3,000 workers were involved in the construction. The Art Deco-style skyscraper was designed by American architect William Van Alen and originally startled the architectural community, with critics saying it would “never make sense” and describing Van Alen as the “Ziegfeld 上海贵族宝贝 上海千花网龙凤论坛of his profession.” The building would remain the tallest for only nine months. In 1931, it was exceeded by the Empire State Building.

1967: Days for Old Met OPERA House numbered as Court upholds ruling

The Court of Appeals in Albany upheld a ruling 50 years ago this month that paved the way for the demolition of the old Metro阿爱上海同城 阿拉爱上海同城politan Opera House on 39th Street and Broadway, according to the New York Times. In the ruling, the court said that a state law aimed at saving the old opera house w[……]

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36 East 61st Street

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Thor Equities looks to unload UES townhouse for $37M Joe Sitt-led firm paid $爱上海同城论坛 爱上海同城27M for 36 East 61st St. in 2014

36 East 61st Street and Joe Sitt

Joe Sitt s Thor Equities is jumping on the recent townhouse turnaround by listing its Upper East Side mansion for $36.9 million.

The limestone and brick property at 36 East 61st Street, located between Madison and Park avenues, spans 15,900 square feet and is zoned for commercial use. With 26 rooms, the asking price works out to $2,320 per square foot.

The townhouse market has been on a tear lately, after a dismal year in which prices dipped and properties languished on the market.

E上海贵族宝贝交流区 上海贵族宝贝论坛arlier this month, the Chinese conglomerate HNA Group b上海贵族宝贝论坛 上海贵族宝贝ought art heir David Wildenstein s Upper East Side mansion for a record $79.5 million, with plans to carve out boutique offices. That deal and others — including Andrew Farkas $40 million sale of 12 East 73rd — have fueling speculation that the market could be rebounding.

Thor bought the seven-story house for $27 million in 2014 from Coral Cables, Fla.-based Cisneros Group, property records show. At the time, Sitt said the property offered prospective tenants a blank canvas for office, retail o上海千花网龙凤论坛 上海千花社区r residential use.

The firm later landed an $18 million mortgage from Israel Discount Bank of New York, according to public records.

Matt Lesser

It s rare to find or have a fully commercial townhouse, said listing broker Matt Lesser of Leslie J. Garfield, who said 36 East 61st would b[……]

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Connie Britton

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Actress Connie Britton snags villa in Los Feliz Her character on “Nashville” was recently killed off the show

Property at Live Oak Drive, with Connie Britton (MLS/ Getty Images)

上海同城对对碰交友社区 上海夜网论坛Now that her “Nashville” character has seen the axe, Connie Britton is buying爱上海同城 爱上海 homes closer to Tinseltown.

The actress dropped nearly $3.1 million for a Paul Williams-designed Mediterranean Villa on Live Oak Drive in Los Feliz, Variety reported.

Built in 1926, the 4,100-square-foot property has four bedrooms and four bathrooms. A swimming pool, lush gardens, fruit trees and patio can be found outside. Views of the Griffith Park Observatory surround the home.

The home has remained in the hands of a family trust since 1992, when it traded hands for $975,000, records show.

Roberta Collins of Keller Williams had the listing. John Galich of Rodeo Realty represented the buyer.

Britton became a household name thanks to her role as the wine-loving “Tami Taylor” on NBC’s “Friday Night Lights.” Other roles include “American Horror Story,” “Nashvil上海千花社区 上海千花网交友le,” and “Me and Ear上海千花网龙凤论坛 上海千花社区l and the Dying Girl.” The actress also owns homes in Beachwo上海夜网 阿爱上海同城od Canyon, Texas, Tennessee and New York. [Variety] – Natalie Hoberman

Tags: Celebrity Real Estate, Los Feliz
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Millennial Home Buyers

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Millennials are finally buying homes — but only when they’re Instagrammable Elaborate poses, fake eyelashes and posed dancing is all the rage for these first timers

Millennial couple posing for their first time homebuyer photoshoot (Credit: Getty Images)

What’s that noise you hear? It’s a broker tapping his toes as he waits an hour for his client to pick up her prized fake eyelashes from home so she can look her best on the “Colorado First Time Home Buyer” Facebook page.

Millennials are turnin上海千花网交友 上海千花网论坛g to elaborate photoshoots as a way to celebrate the milestone that is buying a first home, the Wall Street Journal reported. That includes hiring a photographer to snap pictures of them fake dancing in the living room, playfully posing on the front steps and making heart-shaped hand poses around a new key. Cute, huh?

Some will even wear sweaters and dark jeans in 95-degree Texas weather to strike the right aesthetic. “I wanted that cozy feel,” Dawn Richardson told WSJ. “AHH!! #Adulting,” she wrote on her blog later when posting the temperature-confused pictures.

One photogra爱上海龙凤419桑拿 上海龙凤论坛sh1fpher who spoke with the Journal was given the added responsibility of photo-shopping grass onto an unkempt lawn. She virtually enhanced the neighbor’s lawn, too. Welcome to the world of home-buying in the digital age.

People 36 and younger (also known as millennials) were the largest group of home buyers, at 34 percent, from July 2015 until June 2016, according to a National Association of Realtors repo[……]

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Online Listings Platforms

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Guess what listing platform some luxury home sellers swear by The 爱上海龙凤419桑拿 上海龙凤论坛sh1f“internet pioneer” has been around for more than 20 years

(Credit: Sam Howzit)

Long before StreetEasy, Zillow, Compass or Amazon, there was eBay, and there are some who even now continue to swear by their list上海龙凤论坛 新上海贵族宝贝论坛ings. Michael B. Willhoit, who has listed his nearly $9 million Springfield, Mo. home on eBay for over a year, is one of them.

He does it, in part, because the site “reaches a zillion people, even people from overseas,” as he told the Wall Street Journal. Others agree: tapping into eBay s 170 million active users allows the listing to get in front of more people and has less competition there s only about 100 houses listed on the site, according to the Journal. Consider the site has roughly $1 billion listings, the properties stick out.

Once someone signals interest, the conversation moves off the site into a formal peer-to-peer setting. It works for sellers like Willhoit who is making the sale without the help of an agent thus far.

On 新上海贵族宝贝论坛 上海贵族宝贝交流区the other hand, there are those who feel eBay and luxury don t even belong in the same sentence.

“You’ve already demoted the house [because of] the style of what eBay is—used things being sold,” said Madison Hildebrand of Pacific Union International to the Journal. [WSJ] Erin Hudson

Tags: listings, Residential Real Estate, Stribling Associates
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Toll Brothers City Living

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Toll Brothers shooting for $324M sellout at 77 Charlton Homebuilder paid $57M for Hudson Square site in 2012
爱上海同城对对碰 爱上海同城论坛

77 Charlton Street

Toll Brothers City Living is aiming to sell $323.5 million worth of apartments at 77 Charlton Street, its forthcoming condominium project in Hudson Square.

The luxury homebuilder officially filed plans for a 161-unit development with the New York state Attorney General s office, records show. The average price per unit works out to just over $2 million — which is in line with the company s pivot away ultra-luxury to affordable luxury in recent years.

Toll has said it plans to build two, connected 15-story buildings at 77 Charlton Street, which the Penn爱上海同城对对碰 爱上海同城论坛sylvania-based company picked up for $56.5 million in 2012. The project will have more than 208,000 square feet of residential space.

In 2016, Toll s City Living division — which is heavily concentrated in New Yor爱上海同城手机版 新爱上海同城对对碰论坛k and New Jersey — changed gears to tackle the middle market, where it aims to sell homes priced around $2,000 to $2,500 per foot.

In 2018 s first quarte上海龙凤论坛 新上海贵族宝贝论坛r, Toll Brothers City Living s average contract price was $1.31 million, down from $2.24 million in 2017 s first quarter.

But overall, Toll saw its revenue jump 28 percent during the first quarter to $1.18 billion thanks to strong sales in California.

The City Living division, l上海同城对对碰交友社区 上海夜网论坛ed by David Von Spreckelsen, inked 47 contracts valued at $61.8 million during the quarter, compared to 22 contracts worth $49.3 m[……]

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Trump Hotel Baku

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Trump s former Baku hotel caught on fire twice in one night Authorities have not disclosed the cause of either blaze

From left: Donald Trump in August 2015, the former Trump Hotel in Baku. (Credit: Michael Vadon, Chuck Morave)

The Trump Organisation s former hotel in Baku caught on fire twice over the course of Saturday night in the capital city of Azerbaijan.

The blazes in the 33-story building took hours to douse, and officials have not revealed the cause of the fires, according to the Associated Press.

The building was initially constructed to be a Trump-branded hotel, however the organisation cancelled上海千花网论坛 上海千花网 the licensing deal after President Donal上海龙凤论坛 新上海贵族宝贝论坛d Trump s election in December 2016. Trump上海千花网 爱上海同城对对碰 s partners included a family suspected of laundering money for Iran s Revolutionary Guard.

The building is still not open, but is reportedly being re-purposed to be a business center, according to AP.

President Trump may h爱上海 爱上海同城手机版ave earned up to $2.8 mil上海夜网 阿爱上海同城lion from the incomplete hotel before the deal was cancelled. [AP] — Erin Hudson

Tags: Commercial Real Estate, Donald Trump, fire, Hotel Market, Politics, trump organization
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2 North 6th Street

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Douglaston lands $380M refi for Williamsburg rental tower Natixis is the lender at 2 North 6th Street

Douglaston Development Chairman Jeff Levine and 2 North 6th Place in Brooklyn (Credit: Douglaston)

Douglaston Development refinanced its Williamsburg rental tower 2 North 6th Street with a $380 million loan from Natixis Capital, property records show.

The new financing package includes a $103.3 million gap mortgage and replaces a $276.7 million construction loan from Capital One, according to documents from the city s Department of Finance.爱上海同城手机版 新爱上海同城对对碰论坛

The 40-story, 554-unit tower topped out in late 2016, and TCOs were issued in the third quarter of 2017. It is pa上海夜网论坛 上海夜网rt of Douglaston’s four-building, 2,000-plus unit complex on the Williamsburg waterfront.

Natixis could not immediately be reached for comment. In a statement, Douglaston s chair Jeff Levine said leasing is on t上海龙凤论坛 新上海贵族宝贝论坛ime and on budget and that the loan deal went smoothly.

Meanwhile, Douglaston, headed by Jeff Levine, plans to develop a 1.1 million-square-foot mixed-use project near Hudson Yards in Manhatta爱上海同城手机版 新爱上海同城对对碰论坛n.

Tags: Commercial Real Estate, Real Estate Finance
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MoMA Renovation

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MoMA closing this summer for final stage of $400M overhaul Muse上海千花社区 上海千花网交友um will be closed from June 15 to Oct. 21

11 West 53 上海同城对对碰交友社区 上海夜网论坛Street (Credit: MoMa and Pixabay)

M上海千花网交友 上海千花网论坛ore like LessMA.

As it enters the home stretch of its $400 million expansion, New York s Museum of Modern Art will be closing its doors for fours months this summer and fall, from June 15 to Oct. 21, for a full recon上海贵族宝贝 上海千花网龙凤论坛figuration of its galleries, according to the New York Times.

The new configuration, which will juxtapose artwork from different mediums instead of separating them in a discipline-based system, aims to give new prominence to previously overlooked works in its massive collection.

MoMA bought the property adjacent to its West 53rd Street location, the former home of the American Folk Art Museum, for $32.1 million in 2011. The museum s overhaul involved expanding its lobby, and creating theaters, a library, classrooms and gardens, along with the new gallery spaces.

Though the museum will be missing out on a significant amount of summer tourism revenue, private donations may help cover some of the costs. The museum will soon be announcing a $200 million donation from the estate of David Rockefeller, the philanthropist and banker, who died in 2017.

The expansion was also funded with a $100 million donation from media baron David Geffen in 2016.

During its previous renovation in 2004, MoMA moved to temporary space in Queens for two years. This year s much shorter turnaround means a relocation wi[……]

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