Boston Properties


Growing supply hurting Manhattan office fundamentals: Boston Properties REIT seeing “good, not great leasing activity” in NYC

It’s not just Manhattan’s residential market that is feeling the effects of a supply glut and greater economic uncertainty, according to Boston Properties.

The city’s office market has also “been impacted by growing supply,” while economic “volatility” has hampered demand from smaller financial serv上海同城对对碰交友社区 上海夜网论坛ices tenants, the real estate investment trust said on its first-quarter earnings call Wednesday.

While describing New York as a fundamentally “good market,” Boston Properties president Doug Linde said the comp上海千花网 爱上海同城对对碰any has seen earlier expectations that “there was going to be a supply issue” in the Manhattan office market come to 爱上海龙凤419桑拿 上海龙凤论坛sh1ffruition.

New office construction, in particular, is a key driver behind “good, not great leasing activity across the city,” Linde said, while also citing how a “roller coaster” of a first quarter in the debt and equity markets had impacted “[leasing] velocity at the top end” of the market.

Linde noted that there were five “relocation transactions written at starting rents over $100 per square foot” in the New York City office market in the first quarter, including hedge fund Citadel’s widely reported 200,000-square-foot lease at L L Holding’s 425 Park Avenue.

But excluding the Citadel deal, the four remaining leases signed at over $100 per square foot were for roughly 10,000 square feet of space on average, Linde[……]

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Federal Housing Administration


Is low-down payment financing for condos coming back? New FHA proposals may not be as favorable to sellers, buyers as they appear at first glance

For many condominium buyers and sellers across the country, the Obama administration delivered what seemed like encouraging news last week: The Federal Housing Administration, once the primary source of mortgage financing for moderate-income and first-time condo buyers, is coming back, big time.

But the real story was more complex.

Under new reform proposals, FHA plans to loosen some of its controversial and strict eligibility rules that have caused condo associations nationwide to abandon the program.

It also wants to revive so-called spot loans mortgages for individual units in condo buildings that haven t received blanket certifications from the agency. That change alone could open up low-down-payment financing for millennials, minorities and others in many of 上海同城对对碰交友社区 上海夜网论坛the estimated 150,000-plus condo projects in the United States. The Community Associations Institute estimates that just 14,000 condo projects nationwide less than 10 percent of the total are now certified for FHA-i上海夜网论坛 上海夜网nsured mortgages.

The proposals would also throw a lifeline to senior owners of condo units who need a reverse mortgage to supplement their retirement income. Since FHA s reverse mortgage program accounts for an estimated 90 percent-plus of all reverse mortgages, the recent inability of seniors living in uncertified condo buildings to obtain revers[……]

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50 Hudson Yards


WATCH: The biggest real estate projects coming to NYC 上海同城对对碰交友社区 上海夜网论坛Hudson Yards towers nab top two spots, while Queens dominates TRD’s 2016 ranking

Two of the city s largest planned buildings are coming to its newest neighborhood, Hudson Yards   but besides these Far West side towers, Queens dominate爱上海 爱上海同城手机版d The Real Deal s list of the biggest new projects filed with the Department of Buildings in 2016.

Our ranking include爱上海同城 爱上海s four new projects planned for the borough, while Brooklyn and Staten Island both made a single appearance.

To see the top 10 阿爱上海同城 阿拉爱上海同城largest real estate projects filed last year, watch the video above.

For more videos, visit The Real Deal’s YouTube page.

Tags: Hudson Yards, Related Companies, tishman speyer
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Condé Nast sues Durst, Port Authority over cracked, grimy windows at 1 WTC Window-washing rig is c阿爱上海同城 阿拉爱上海同城racked, full of design flaws

Dirty windows at One World Trade Center and Vogue s Anna Wintour (Credit: Getty Images)

Condé Nast s windows at One World Trade Center are so dirty, the company can barely see the incredible views that came with its $1.9 billion lease, according to a new lawsuit.

The company filed a suit against the Durst Organization and the Port Authority of New York and New Jersey, claiming that the windows are cracked and haven t been cleaned since they moved in, the New York Post阿爱上海同城 阿拉爱上海同城 reported.

“I mean there looks like there is shit on the windows,” one staffer told the Post.

An上海贵族宝贝论坛 上海贵族宝贝 attorney for Condé Nast told the newspaper that despite repeated requests, the developer and bistate agency have refused to resolve this significant and growing problem.

The Durst Organization told The Real Deal in November that the tower s windows hadn t been cleaned since 2015, since the system used to suspend the washers isn t safe. The track used to move the window-washing rig is riddled with cracks and other design flaws. Jordan Barowitz, a spokesperson for Durst, told the Post that a temporary rigging system will be installed this summer, and a more perm上海贵族宝贝 上海千花网龙凤论坛anent system will be in place by 2018. [NYP] — Kathryn Brenzel 

(To view more office leasing transactions at 1 World Trade Center, click here)

Tags: 1 World Trade Center, Commercial Real Estate, conde nast, durst[……]

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Guo Wengui


Fugitive Chinese billionaire speaks out from his hideout in the Sherry-Netherland Guo Wengui has set aside $150M war chest and plans to step up anti-government rhetoric

The penthouse at上海千花网论坛 上海千花网 the Sherry-Netherland hotel and Chinese billionaire Guo Wengui (Credit: Twitter)

Chinese billionaire Guo Wengui, who s been living in self-imposed exile at the Sherry-Netherland, is ready to take on his enemies. And there are many.

Guo, who has accused government and business figures of corruption via social media, has amassed a $150 million war chest that he said will cover his legal fees and other expenses as he seeks asylum in the U.S. and steps up anti-Communist rhetoric. Nothing can stop me, he told the Wall Street Journal. The U.S. is the last land of justice.

Guo, also known as Mile上海贵族宝贝交流区 上海贵族宝贝论坛s Kwok, made his fortune in real estate before fleeing China in 2015. That year, he picked up a sprawling co-op at the Sherry-Netherland co-op for $70 million. The apartment, pieced together out of smaller apartments over the years, has seven bedrooms and 2,000 square feet of terra上海贵族宝贝 上海千花网龙凤论坛ce space. Last year, he listed it for $78 million with Brown Harris Stevens Kathy Sloane, who brought Guo to the co-op two years ago.

But a Hong Kong hedge fund moved to block the sale of Guo s apartment, arguing that he d likely move the proceeds out of the U.S. to avoid repaying his debts. The unit is currently off the market.

Guo s allegations are hard to corroborate — even seemingly small details such as his[……]

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US Housing Starts


US housing starts jump to highest level of the 阿拉爱上海同城 爱上海龙凤419桑拿year But increase is from finicky multifamily projects

Multifamily construction

U.S. housing starts jumped 13.7 percent last month, reaching the highest leve上海贵族宝贝论坛 上海贵族宝贝l seen all year.

The increase hints that builders are back to work after hurricanes walloped the southeast and slowed residential construction, the Wall Street Journal reported. Housing starts hit a seasonally adjusted annual rate of 1.29 in October, the Commerce Department said on Friday. Building permits for residential projects increased 5.9 percent to an annual pace of 1.297 million last month.

”It was a little bit of a dead cat bounce after the hurricanes,” Terrell Gates, CEO of Virtus Real Estate Capital, told the Journal.

But don t get too excited. Economists warned that the g上海龙凤论坛sh1f 上海龙凤论坛rowth was largely driven爱上海同城论坛 爱上海同城 by the 37 percent increase in multifamily starts, which can be volatile month-to-month. Single-family start increased 5.3 percent in October. [WSJ] — Kathryn Brenzel

Tags: Residentia上海千花网龙凤论坛 上海千花社区l Real Estate
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Retail Store Technology


Another blow t上海贵族宝贝交流区 上海贵族宝贝论坛o retail: Amazon s automated store launch is a Go Amazon Go, a system that allows stores to function without cashiers, debuts January 22

(Credit: Amazon storefront photo by SounderBruce/Wikimedia Commons; right photo by Anthony Easton/Flickr)

Amazon s cashier-free store is opening after a year of delays. Running off a new system called Amazon Go, the上海千花网龙凤论坛 上海千花社区 store is filled with cameras that allow the technology to track shoppers and identify the products they select and then charge their accounts.

Though the tech giant notes that cashiers would still be needed if items being sold included restricted products like alcohol, Go allows cashiers to be eliminated in a convenience store, which is the model that will officially open on the company s Seattle campus on January 22, according to the Wall Street Journal.

The reason behind the delay in launching Go was reportedly due to the unexpected complexity of crowds of shoppers and identifying sim爱上海龙凤419桑拿 上海龙凤论坛sh1filar products. The 上海龙凤论坛sh1f 上海龙凤论坛system learned from Amazon employees over the past several months.

Though there are no plans to introduce the system into Amazon s current brick-and-mortar ventures, such as its bookstores or Whole Foods, Dilip Kumar, vice president of technology for Go and Amazon Books, said the system was not just a test.

“We have this unwritten rule that whatever it is you’re building, you have to be able to scale it so that it covers significantly amount of more load than what you would norm[……]

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231 East 94th Street


UES could be getting a ne上海龙凤论坛 新上海贵族宝贝论坛w tower, with ties to celebrity chef Ga爱上海 爱上海同城手机版rage o上海千花网论坛 上海千花网perator and Red Rooster investor is buying air rights

The Upper East Side could be getting a new tower. Garage Management Co., a parking lot operator, is buying air rights for an unspecified development on East 94th Street.

The company has ties to Swedish celebrity chef Marcus Samuelsson. GMC partner Andrew Chapman claims on his Linkedin profile that he owns Samuelsson’s Red Rooster restaurant in Harlem and co-founded the Marcus Samuelsson Group.

The company is working with unspecified partners and it isn’t clear what they plan to build on East 94th St上海同城对对碰交友社区 上海夜网论坛reet, near Second Avenue, the New Yor上海贵族宝贝交流区 上海贵族宝贝论坛k Post reported. GMC owns a garage at 231 East 94th Street and an auto body shop 243 East 94th Street. The bulk of the site is commercially zoned.

GMC bought air rights from the St. David s School at 215 East 94th Street, but because the school building doesn’t neighbor its property it will have to buy air rights from other lots as well. Avison Young is working with the garage company on the endeavor. [NYP] Konrad Putzier 

Tags: Air Rights, Development, upper east side
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Westchester sales down 3 percent from last year


In the first quarter of 2018, the number of homes sold fell nearly three percent from the same period the year before, according to the first Westchester market report published by Berkshire Hathaway, which acquired Houlihan Lawrence爱上海同城手机版 新爱上海同城对对碰论坛 last year. The number of sales has steadily 阿拉爱上海同城 爱上海龙凤419桑拿declined since爱上海同城 爱上海 the third quarter of 2017, the report states. The爱上海龙凤419桑拿 上海龙凤论坛sh1f median list price hovered at $455,000 in the first quarter, up just two percent from the same period last year. Berkshire Hathaway’s report also noted that rising rents appear to be pushing young adults to buy. [Berkshire Hathaway]

Ta上海贵族宝贝 上海千花网龙凤论坛gs: Westchester Fairfield
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Drone Real Estate


A drone program for real estate — here s how it could save lives Real estate entrepreneurs hope this technology lowers the number of fatal falls on construction sites

(Credit: iStock)

In 2016, falls resulted in 384 of 991 construction worker deaths in the United States, according to federal government figures. But some entrepreneurs are proposing a new tool for construction inspection上海贵族宝贝交流区 上海贵族宝贝论坛s that could lower the number of worker f上海千花社区 上海千花网交友atalities: drones.

The New York Times reported that the drones are being put to work on construction projects worldwide, safely taking care of quality-control and inspection jobs in place of human workers爱上海龙凤419桑拿 上海龙凤论坛sh1f. The trend coincides with a rise in drone爱上海同城手机版 新爱上海同城对对碰论坛 sales, which increased 33 percent year-over-year in 2017, according to market research firm NPD Group.

Mike Winn, CEO of San Francisco company DroneDeploy, told the Times drones are now taking care of roof measurements needed for solar panel installations, a job that use to require a person precariously stretching out a tape measure while trying to stay balanced on the top of a home or building. And John Murphy Jr., a contractor on the 58-story Paramount Miami Worldcenter condominium project in Miami, said use of drones means fewer workers are dangerously going out on the side of buildings on platforms hanging from cables.

“We’re definitely limiting the exposure to workers,” Murphy told the Times.

Not everyone is sure drones can solve all of real estate s dangers and inefficiencies,[……]

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