243 Canal Street

City Urban Realty to buy Chinatown office buildin爱上海同城论坛 爱上海同城g for $25M NoMad-based investment firm acquiring Canal Street property through estate sale

Real estate investor Michael Alvandi’s City Urban Realty is in contract to acquire a six-story Chinatown office building for $25 million, according to city records.

City Urban Realty will acquire the roughly 22,000-square-foot property at 243 Canal Street, between Lafayette and Centre streets, from the estate of the la上海龙凤论坛 新上海贵族宝贝论坛te Sau Tchu Luu Fan, who bought the building in 1971, according to city property records.

Fan died in 2014 and the deal with City Urban Realty is part of an estate sale, according to filings in Surrogate’s Court in Manhattan.

City Urban Realty did not return requests for comment, while Fan’s estate could not immediately be reached for comment.

While the NoMad-based f爱上海同城 爱上海irm’s plans for the building are unclear, the property’s now-vacant ground floor retail space previously held a jewelry exchange.

Alvandi and his firm previously partnered with Lloyd 爱上海同城对对碰 爱上海同城论坛Goldman s BLDG Management and Twin Oaks Equity to sell two Midtown East rental buildings to Great Neck-based Gould Investors for $18 million in 2014.

The property represents City Urban Realty’s first venture into Chinatown. It is located a block away from the 11 Howard hotel, which Aby Rosen’s RFR Holding just sold and 上海龙凤论坛 新上海贵族宝贝论坛leased back from German asset manager Commerz Real for $170 million, as The Real Deal reported this week.

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Port Authority Bus Terminal

New York politicians want Port Authority chair removed from bus terminal project Nadler, others claim John Degnan didn’t act “in good faith”

Port Authority B上海千花网论坛 上海千花网us Terminal

The spat between the Port Authority chair and a group of New York lawmakers over plans to build a new $10 billion bus terminal is going into a n上海龙凤论坛 新上海贵族宝贝论坛ew round.

New York Congressman Jerry Nadler, along with Manhattan Borough 爱上海龙凤419桑拿 上海龙凤论坛sh1fPresident Gale Brewer, state Senator Brad Hoylman, state Assemblywoman Linda Rosenthal and council member Corey Johnson, published a letter asking that Port Authority chair John Degnan be removed from the decision making over the project.

“We have seen what happens when politics drives the Port Authority’s decisions and will not let a single individual’s political needs drive important regional decision making,” the lawmakers wrote. They accuse Degnan a Chris Christie appointee of failing to negotiate “in good faith” and ignoring the wishes of New York politicians. The New York politicians are concerned the bi-state agency may attempt eminent domain to build a new $10 billion facility on Manhattan s F爱上海同城手机版 新爱上海同城对对碰论坛ar West Side.

Your characterizations of my actions are completely unfounded and I am truly disappointed in your abrupt change in our recently agreed decision to move forward collaboratively, Degnan wrote in a reply Tuesday night.

The two sides appeared to be on good terms as late as October, when they agreed to name appointees to a working group and issue a joint statem[……]

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Robert Durst Meth

Robert Durst says it was the meth talking Durst has admitted to usi爱上海同城 爱上海ng methamphetamine while appearing in HBO’s “The Jinx”

Robert Durst

Real estate heir and suspected murder Robert Durst had a lot of explaining to do following the release of the 2015 HBO documentary, “The Jinx,” where he appears to admit to killing multiple people. Now, a year later, we ve got his explanation he was high on methamphetamine while filming.

Durst admitted to using drugs while appearing in the documentary back in March of 2015, during an interview in prison. Those comments have not been filed in L.A. County Superior Court, according to Variety.

“I was 上海千花社区 上海千花网交友on meth, I was on meth the whole time … it should have been obvious,” Durst said.

Durst阿拉爱上海同城 爱上海龙凤419桑拿 recently pleaded not guilty to murder charges fo上海龙凤论坛sh1f 上海龙凤论坛r the death o爱上海 爱上海同城手机版f onetime friend Susan Berman. He is also allegedly linked to the deaths of his first wife and his neighbor in Texas who he admitted to killing in self-defense. He was arrested on gun charges in Louisiana following the release of the The Jinx. [Variety] Christopher Cameron

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David Greenfield

David Greenfield has undeclared state campaign fund stuffed with real estate cash The Brooklyn councilman chairs the city’s land use committee

David Greenfield (credit: William Alatriste/New York City Council)

Brooklyn City Council member David Greenfield has a separate state campaign account that allows him to raise money from companies barred under city rules from donating.

Greenfield, chairman of the City Council s Committee on Land Use, has $308,641.71 in a campaign account c爱上海 爱上海同城手机版alled “GreenfieldNY,” most of which came from real estate companie上海贵族宝贝交流区 上海贵族宝贝论坛s, the New York Observer reported. Greenfield hasn t declared what state office he might pursue, though both the state account and his re-election account with the city, Greenfield NYC, are run by another City Council hopeful, Brooklyn political operative Kalman Yeger.

The New York City Campaign Finance Board bars donations from 上海贵族宝贝交流区 上海贵族宝贝论坛corporations, companies and law firms and limits individual and political action contributions to $2,750.

Thor Equities Joseph Sitt is one of the biggest donors to the state account, having donated $10,000. Sitt has indicated that he will seek more zoning changes in order to move forward with developments in Coney Island and Red Hook. The Edelstein family, whose “Imperial Court Hotel” was fined thousands of dollars by the city for violating zoning laws, collectively donated $25,000 to Greenfield.

Yeger told the Observer that it offensive to suggest that the donations would in any way influenc[……]

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Danbury’s Lee Farm Corporate Park sold for $31.8M

The Grossman Companies and Summit Development sold the Lee Farm Corporate Office Park in Danbury for $31.75 million. CT Property Realty purchased the five-story 215,650-上海千花网交友 上海千花网论坛square-foot office building at the intersection of I-84 and U.S上海千花网龙凤论坛 上海千花社区. Route 7. Grossman and Summit 上海贵族宝贝 上海千花网龙凤论坛bought the property in 2013 for $16.9 mill新上海贵族宝贝论坛 上海贵族宝贝交流区ion and invested more than $1 million in renovations. The office space is 100 percent leased, with tenants including Wells Fargo and Lenovo. [NewsTimes]

Tags: Westchester Fairfield
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NYC Investment Sales 2017

Investment sales fell again in 2017. Here s why 2018 could be better NYC deal volumes down nearly 40% on the year to $34.9B: Cushman

Bob Knakal and Doug Harmon

The city’s investment sales market had another down year in 2017, though some promising signs at the tail end could bode well for 2018.

Investors spent a total of $34.9 billion on commercial property last year, down nearly 40 percent from 2016, according to Cushman Wakefield. It marked the second straight year in which dollar volumes 上海千花网龙凤论坛 上海千花社区fell, as 2017’s totals were off nearly 57 percent from the peak this cycle of $80.4 billion in 2015.

In Manhattan, the number of properties sold fell 21 percent year-over-year to 602, and the total dollar volume of deals was off 45 percent to $21.6 billion. But it could have been worse. Cushman s Douglas Harmon said during the company’s year-end conference call Wednesday morning that when the number-crunchers looked at the figures six months ago, “it was a very dire prediction for 2017.”

At the halfway point of 2017, Manhattan was trending toward a 爱上海 爱上海同城手机版decline of 55 to 60 percent in sales volumes, so in that context the 45 percent drop was a bit of a silver lining.

“The good news is that in the second half there ended up being a lot of transactions,” he said. “As I sit today forecasting what it looks like for ’18, it’s much more upbeat.”

(Click to enlarge)

 

In the outer boroughs, the numbe新爱上海同城对对碰论坛 上海同城对对碰交友社区r of properties sold declined by 17 percent to 3,002, and the dollar volume fell 2[……]

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Fisher Brothers

Winston Fisher swims with the sharks on Park Ave. Landlor上海千花网龙凤论坛 上海千花社区d sponsored design competition to reimagine boulevard’s medians

55 East 52nd Street and Winston Fisher (Creit: Fisher Brothers)

On ABC, Barabara 上海千花网交友 上海千花网论坛Corcoran is one of the “shark” investors on the show “Shark Tank.” On Park Avenue, Fisher Brothers partner Winston Fisher is judging actual sharks.

The lobby of the Manhattan landlord’s 55 East 52nd Street will display entries submitted to a design competition that Fisher Brothers is sponsoring, which asks artists to reimagine the medians along a nine-block stretch of Park Avenue, the New York Times reported.

Among the 17 finalists are a minigolf exhibit and an aquarium.

“There’s a tongue-in-cheek connection,” said architectural designer Eric Spencer, who proposed the fishy idea. “You know, the classic stereo上海千花网交友 上海千花网论坛type, guys and gals on their phones, sharks, doing their thing.”

Fisher Brothers doesn’t control the stretch of Park Avenue’s median between 46th and 57th streets, but hopes the c阿拉爱上海同城 爱上海龙凤419桑拿ompetition will ignite imaginations.

“Can the city do it? The city can do anything,” he said.

“You can fill in what your vision is, but we really are hopeful that this will be the spark, very much like what they did with the High Line,” Fisher added. “That’s not what got built. But it allowed people to dream and see the potential.”

A panel of judges will select the winning entry, and the artist will receive a $25,000 prize. [NYT] – Rich Bockmann

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80 Flatbush

Brooklyn councilman wants to cut Alloy s 80 Flatbush down to size Stephen Levin says the site across from Atlantic Terminal should be “transitional” from Downtown Brooklyn skyscrapers 爱上海同城对对碰 爱上海同城论坛to neighborhood townhomes

Jared Della Valle, Stephen Levin, and a rendering of 80 Flatbush in Brooklyn (Credit:上海千花网交友 上海千花网论坛 80 Flatbush, Van Alen Institute, and Wikipedia)

Alloy Development and par爱上海同城手机版 新爱上海同城对对碰论坛tners are planning a 986-foot tall residential skyscraper for 80 Flatbush, near Atlantic Terminal in Brooklyn. But the local city councilman on Tuesday indicated he d like to see the builders go back to the drawing board.

I consider it a transitional block, Councilman Stephen Levin said at a hearing according to Crain s, and therefore this is something we are going to have to try and reconcile over the next couple of weeks. Levin s speech that emphasized that the area s 2004 上海千花网交友 上海千花网论坛rezoning was meant to for a building scale somewhere between high-rise Downtown Brooklyn and low-rise Boerum Hill, Crain s reported.

Alloy s full-block development, as originally planned, wou爱上海同城手机版 新爱上海同城对对碰论坛ld include 900 apartments, 200 of which would be reserved for affordable housing. Retail space and an elementary school are also in the works.

The project needed additional zoning approvals from the city and earlier this month received a thumbs up from City Planning, but it still needs the full vote of City Council, where Levin, whose district includes 80 Flatbush, effectively holds the deciding vote. [Crain s] — Wil[……]

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Carmel Partners

Carmel Partners ra爱上海龙凤419桑拿 上海龙凤论坛sh1fises $1.3B multifamily fund Funding comes from more than 40 investors in Asia, Europe and the US

Carmel Partners CEO Ron Zeff (Credit: Privcap and iStock)

Carmel Partners finished raising $1.28 billion for its latest U.S. multifamily fund.

The San Francisco-based real estate investment firm secured commitments from more than 40 investors across Asia, Europe and the US, AltAssets.net reported.

Carmel CEO Ron Zeff, who founded the company in 1996, said the new investment vehicle will “continue to pu上海千花网交友 上海千花网论坛rsue a multifamily value-creation strategy in our target markets. 上海千花网论坛 上海千花网

The latest closing brings Carmel s total funds raised to $5.5 billion since 2004. The company’s previous fund, closed in January 2017, had a value of $1.03 billion.

A major player on the West Coast and H新爱上海同城对对碰论坛 上海同城对对碰交友社区awaii, Carmel Partners has been active in New York C阿爱上海同城 阿拉爱上海同城ity since 2010, when it opened a one-agent office in the city.

The company last year sold a $1.9 billion portfolio of seven multifamily properties spread across three states to Brookfield Property Partners, which included the 30-story rental tower at 15 Cliff Street in the Financial District.

Last July, Carmel acquired a $40 million Crown Heights development site from Cornell Realty Management. [AltAssets] Kevin Sun

Tags: carmel partners, Multifamily Market, Real Estate Finance
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