Author: wh1

Bhatia 318 East 15th St

Sherwood and 阿拉爱上海同城 爱上海龙凤419桑拿Bhatia nab $92M refi for
New School dorm Wells Fargo provided the financing for East Village property

318 East 15th Street

A dormitory at the New School just scored a roughly $92 million loan from Wells Fargo.

Bhatia Development Organization and Sherwood Equities received the 10-year loan to refinance the property at 318 East 15th Street, Located Across From Stuyvesant Park Near Second Avenue, Commercial Observer reported.

The interest-only, fixed-rate loan includes a new gap mortgage of roughly $5 million and replaces a $94 million Wells Fargo loan made in 2014, according to public records spotte上海贵族宝贝 上海千花网龙凤论坛d by the publication. Bhatia and Sherwood still owed $87 million at the time of the refinancing and declined to reveal the rate on the new deal. However, Comm阿爱上海同城 阿拉爱上海同城ercial Observer reported that it is less than 4 percent.

“I’ve been in business for 40 years. There are very few times you can get an opportunity to lock in a rate at under 4 percent,” Arun Bhatia, the president of Bhatia, said.

Refinancing the loan and placing it in a commercial mortgage-backed securities pool will give Bhatia and Sherwood more flexibility to make upgrades to the proper阿拉爱上海同城 爱上海龙凤419桑拿ty, while lowering their interest rate. [CO] – Christopher Cameron

Tags: Real Estate Finance, sherwood equities, the new school, wells fargo
We are having some technical difficulties. Try again later.

By click上海同城对对碰交友社区 上海夜网论坛ing Subscribe you agree to our Privacy Policy.

[……]

Read more

Miami Beach Property

Want Miami Beach oceanfront pro上海贵族宝贝 上海千花网龙凤论坛perty? Here s how to make it happen I上海贵族宝贝 上海千花网龙凤论坛t won’t be quick or cheap, but you probably already knew that

(Pixabay)

The key for developers looking for property along Miami Beach s crowded beachfront is to look for older buildings that can be recycled, instead of land to construct new projects.

“Any condo can be recycled in Florida,” said CraneSpotters.com s Peter Zalewski to Mansion Global.

The problem is recycling is a slow, costly process. Buying an older building means cutting deals with unit owners before any significant transformation can occur and the disparities in cost post-renovation are stark: an average unit listing price is about $770 per square foot for an older unit, while a new unit will list for up to $3,000.

But, even if you build, will buyers come? It s a real question in Miami Beach s saturated market where, since 2011, more than 40 renovations projects either stall上海夜网论坛 上海夜网ed, revised their plans o爱上海同城论坛 爱上海同城r were cancelled.

[Mansion Global] E.K. Huds爱上海同城 爱上海on

Tags: Development, Real Estate Finance, South Florida Real Estate
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.

[……]

Read more

Moinian Group

Moinian Group tries to raise $350M in EB-5 funding for 3 Hudson Boulevard Developer still seeking construction loan for 2M sf tower

Joe Moinian and a rendering of 3 Hudson Boulevard (Credit: FXFOWLE)

Moinian Group hopes to raise between $250 million and $350 million in EB-5 funding for 3 Hudson Boulevard.

G爱上海同城手机版 新爱上海同城对对碰论坛eorge Washington Immigration Group, an EB-5 regional center, was tapped to arra上海千花网龙凤论坛 上海千花社区nge the financing, Commercial Observer reported. The regional center structures investments as limited partnerships, the CO reported.

Moinian, led by Joseph Moinian, broke ground on the 53-story, 2-million-square-foot office tower near Hudson Yards last year, but funding remains an open question. The developer has yet to land a construction loan and is looking for a debt and equity package of up to $3 billion to pay for the tower. Mo爱上海同城对对碰 爱上海同城论坛inian in November tapped JLL to lock down the financing, with a 上海夜网论坛 上海夜网capital stack featuring $1.8 billion in debt and $1.2 billion in equity.

Bloomberg first reported in November that Moinian considered raising up to $500 million in EB-5 capital.

The Real Deal broke down the tower’s funding challenge in its January issue.

Beyond the finan阿拉爱上海同城 爱上海龙凤419桑拿cing quest in Hudson Yards, Moinian has beefed up its lending operation in recent months, with four new financing deals in New York and Miami worth $216 million. [CO] Konrad Putzier

Tags: 3 hudson boulevard, moinian group, Real Estate Finance
We are having some technical difficulties. Try again later.

B[……]

Read more

Google Chelsea Market

Cash money: Google s $2.4B megadeal is debt-free: sources The 75 Ninth Ave. acquisition closed Tuesday

The Chelsea Market and Sundar Pichai (Credit: Getty Images)

Sitting atop a mountain of cash, Goog阿爱上海同城 阿拉爱上海同城le can see its new home.

The tech giant’s $2.4 billion purchase of the Chelsea Market building, which closed Tuesday, was an all-cash transaction, sources told The Real Deal.

The company, which has a market cap of $800 billion, did not opt to assume existing debt from a group led by German lender Landesbank, which had provided financing to the 1.2 million-square-foot office-and-retail property’s seller Jamestown, sources said.

The move was especially remarkable given the deal for 75 Ninth Avenue is the largest investment-sales trade of the year so far, as well as the second-priciest sale of a building in New York history. Even last year’s top deal, HNA Group’s $2.21 billion purchase of 245 Park Avenue, included a $1.75 billion loan from a JPMorgan Chase-led consortium. (That 上海贵族宝贝论坛 上海贵族宝贝deal had 79.2 percent leverage.)

The deal is Google’s second major New York purchase after 111 Eighth Avenue, which it bought for $1.77 billion in 2010. To close that deal, Google secured a $467.9 million acquisition loan from Bank of America, equating to 26.4 percent leverage.

The country’s largest tech firms notoriously hoard billions in cash. A Moody’s report last year showed Google stashed away $86.3 billion overseas, where it isn’t subject to domestic taxes.

Jamestown president Michael Phillips,[……]

Read more

Southampton Village officials to review ethics complaint in 125

Southampton Village officials to review ethics complaint in 125-year-old Victorian expansion plan

Southampton Village officials will examine complaints about whether the town’s historical consultant overstepped his bounds in advising another consultant hired by the owner of the Mocomanto. The owner of 472 First Neck Lane, Ken Fox, wants 爱上海同城手机版 新爱上海同城对对碰论坛to add one two-story extension and an上海贵族宝贝 上海千花网龙凤论坛other one-story extension to the 125-year-old Victorian, nearly doubling its size, but has to go through the town’s 爱上海同城论坛 爱上海同城architectural review board first. Neighbors have opposed the project and forwarded the board emails between Fox’s consultant and the one hired by the town, which they say show impropriety. The board is expected to decide the project’s fate at an April 23 meeting. [27East]

Tags: Hamptons
We are上海贵族宝贝交流区 上海贵族宝贝论坛 having some technical difficulties. Try again later.

By clicking Subscribe you agree上海千花社区 上海千花网交友 to our Privacy Policy.

[……]

Read more

Connecticut dispensary

Westchester Fairfield Cheat Sheet: Why Westchester homes are getting battered by “dramatic price reductions” … more

Clockwise from top left: Dramatic price reductions plague Westchester homeowners hoping to sell (credit: Daniel Case, Pixabay), Norwalk commission approves medical marijuana dispensary, Yonkers diner could become a hotel (credit: Anthony22), and Stamford board votes to reverse fitness center zoning decision (credit: John).

Why Westchester homes are getting battered by “dramatic price reductions”
An increasing number of Westchester residents are trying to sell their homes to avoid hig上海千花网 爱上海同城对对碰h property taxes, and at the same time, the market is seeing significant price chops, particularly on homes priced between $1.5 and $3 million, Bloomberg reported. Inventory at the end of June was up 5 percent from last year and the first half of the year saw price dips in areas like Scarsdale and Mamaroneck. Many sellers are determined to sell because of the GOP’s new tax law, which caps state and local property tax deductions at $10,000. Compass broker Angela Retelny told the outlet that some buyers are refusing to snap up pricey houses on which they’ll have to pay extremely high taxes — and the market is seeing “dramatic price reductions every single day — every hour, pretty much,” she said. [TRD]

Medical marijuana dispensary application gets the okay from Norwalk commission
Norwalk is one step closer to getting a medical marijuana dispensary, the Fairfield County Business Journ[……]

Read more

Modelland

Style alert: Tyra Banks to open model-themed amusement park in Macerich’s Santa Monica Place The 21,000-square-foot sp上海贵族宝贝论坛 上海贵族宝贝ace will be a ticketed attraction with retail, entertainment

From left: Tyra Banks, S上海龙凤论坛sh1f 上海龙凤论坛anta Monica Place (Credi新爱上海同城对对碰论坛 上海同城对对碰交友社区t: Getty)

In “Life Size” and its recently released sequel, “Life Size 2,” supermodel Tyra Banks plays the role of “Eve,” a doll who lives in a make-believe place called Sunnyvale where dolls and models run amok.

With her latest endeavor, a brick-and-mortar project dubbed “Modelland,” it’s almost as爱上海 爱上海同城手机版 if Banks is looking to recreate that fantasy land.

The America s Next Top Model creator plans to open a 21,000-square-foot interactive amusement park — named after her 2010 novel — at Santa Monica Place, WWD reported.

Set to open this year, Modelland will include retail,爱上海 爱上海同城手机版 entertainment and other interactive experiences. More exact details remain scant, but Banks told WWD the project will be a permanent ticketed attraction, as opposed to the more common pop-up experience that disappears after a set amount of time.

Macerich, owner of Santa Monica Place, even contributed funding for the project alongside other investors. Banks said it took her 10 years for Modelland to become a reality.

The outdoor mall is also going to be getting another attraction soon. The Zimmer Children’s Museum, now rebranded to Cayton’s Children Museum, is also opening a 21,000-square-foot space this year. Designed by R A Architecture + Design, the eye-c[……]

Read more

Amazon HQ2

Savanna doesn t have much time to replace Amazon at One Court Square Real estate firm planned to scoot-out CitiBank early this year

Christopher Schlank, Jeff Bezos, One Court Square, Chistopher Schlank, and Jeff Bezos (Credit: Getty Images and One Court Square)

After Amazon announced that it would not build its campus in Queens on Thursday, public officials sparred over who was victor and who was vanquished. For the governor, the biggest losers were the 上海贵族宝贝 上海千花网龙凤论坛people of New York. For other Democrats, the only loser was Amazon.

But in real estate the biggest loser of them all might be Savanna, the owner of the One Court Square office tower where Amazon planned to temporarily fill 1 million square feet until it built its own new building nearby.

Citigroup had previously planned to move out of 1 million o阿拉爱上海同城 爱上海龙凤419桑拿f its 1.4 million square feet a上海千花网龙凤论坛 上海千花社区t the building by 2020, but that timeline was accelerated to early 2019 in order to make room for the incoming Amazon.

“In order to accommodate Amazon’s plans to build a headquarters in Long Island City, we had planned to move about 1,500 people at One Court Square to other floors there or to Two Court Square,” a company spokesperson told The Real Deal in a statement. “While these transitional plans may change, our long-term plans to relocate most of our current employees in Long Island City to other New York metropolitan area locations have not changed.”

The bank has been consolidating employees at its headquarters at 388 Greenwich St[……]

Read more

San Francisco Office Market

Inside San Francisco s office market: Developers win beauty contests and lease entire buildings within months A citywide restriction on development and an already tight market is creating a rush for space

John Buck and a rendering of his firm s Park Tower at Transbay project

Office developers in San Francisco are finding they can lease the majority of t上海千花社区 上海千花网交友heir office properties well b爱上海龙凤419桑拿 上海龙凤论坛sh1fefore they break ground, and in some cases, before they even get permits to bu上海千花网 爱上海同城对对碰ild.

The trend is上海千花社区 上海千花网交友 a product of high demand from growing tech companies and a citywide annual cap on office development, according to the Wall Street Journal.

Since 1986, the city has restricted new office development to 875,000 square feet each year. That isn’t much space — John Buck Company’s 43-story Park Tower at Transbay project is just 100,000 square feet under that cap. Facebook leased the entirety of the project last year.

Square footage that goes undeveloped is banked for future years, but the surplus has shrunk amid the city’s development boom. City officials decide which projects qualify each year with a so-called “beauty contest.”

Tech firms are in fierce competition to lease large amounts of space in San Francisco, where vacancy sits at 6.4 percent, and many commit before a project qualifies under the program. Demand from tech company employees is also squeezing the housing market in San Francisco.

Earlier this year, Pinterest.com leased 490,000 square feet at an Alexandria Real Estate[……]

Read more

E3: New role of Ren Tiantang big melee is ” brave person fight evil dragon ” leading role

Today (on June 12) straight face can sow E3 Ren Tiantang in the newspaper, ” brave person fight evil dragon ” leading role ” hero ” be announced to be ” big melee of Ren Tiantang star is special edition ” next DLC part. It is reported, ” brave person fight evil dragon ” leading role ” hero ” will this year the summer lands formally ” big melee of Ren Tiantang complete star: Special edition ” . ” big melee of Ren Tiantang star is special edition ” DLC part ” hero ” conduct propaganda piece:[……]

Read more