One Manhattan Square Murals

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Hoping to keep the peace, Extell wraps One Manhattan Square in murals After causing cracks in neighboring buildings, Extell is trying to be a better neighbor

Extell’s One Manhattan Square project has thus far been fairly controversial, inspiring anti-gentrification protests and allegedly causing cracks in neighbors’ walls. But Extell has a solution: art.

The developer of the planned 72-story tower at 250 South Street has installed murals around the爱上海 爱上海同城手机版 block-long construction site on the Lower East Side waterfront, accordi上海贵族宝贝交流区 上海贵族宝贝论坛ng to YIMBY. As The Real Deal previously reported, Extell has already slashed the sellout target for the condo tower.

The soon-to-be 823阿爱上海同城 阿拉爱上海同城-foot building site between the Manhattan Bridge, FDR Drive, Cherry Street and Rutgers Street is now surrounded by mu爱上海龙凤419桑拿 上海龙凤论坛sh1frals depicting urban life. Extell tapped New Yor新上海贵族宝贝论坛 上海贵族宝贝交流区k-based artists, Margaret Inga Urías, Nicholas Forker and Jessica Tynk for the project.

Each artist approached the installation differently. Urías created black and white angular abstracts based on maps. Forker created a sequence of Lower East Side tenements. And Jessica Tynk went for a colorful comic strip inspired by the Manhattan Bridge. [YIMBY] –Christopher Cameron

Tags: One Manhattan Square
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Hamptons Cheat Sheet

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Hamptons Cheat Sheet: Lil Montauk resort sells for $10M, Southampton hunters up in arms more

Oceanside Beach Resort at 626 Montauk Highway and a deer

Montauk’s Oceanside Beach Resort just sold for $10M

The sunny little motel at 626 Montauk Highway is in for a transformation. Developer and restaurateur Jon Krasner acquired the 30-room property for $10 million last week in an off-market deal, the East Hampton Star reported. Jack Botero of BlackBrick brokered the transaction. Krasner told the East Hampton Star that the resort will be renovated during the winter and will reopen in spring. Krasner is the owner of two restaurants in town, the Saltbox and the Shagwong Tavern. Under seller Ken Walles, room rates started at $85 per night in the off-season and rose as high as $475 in peak season. [EHS]

Sales were m上海千花社区 上海千花网交友ostly crummy in Q3: report

East End real estate did not have a stellar third quarter. The median sales prices in both Southampton and East Hampton fell year-over-year, the latter posting a nearly 30 percent drop from $1.2 million to $870,000. Southampton prices dipped 13.5 percent, from $880,000 to $761,056. Sales volume was pretty mixed across the Hamptons. In Southampton Town and East Hampton Town, the overall number of sales tumbled by more than 38 percent and 30 percent, respectively. But East Hampton Village and Westhampton Beach saw upticks in sales volume — 12.5 percent and just over 7 percent. The top sale of the quarter was a Water Mill house that real estate investor Andrew Borrok sold for $22 million. [27East]

Stable owners aren’t horsing around with their new $10M Southampton digs

Eli Lomita and wife Alice Sim, owners of Kingfield Stables, ponied up $10 million for a stud of a house at 53 Fordune Lane. Sitting on 3.3 acres of land, the nearly 5,000-square-foot residence has six bedrooms, four bathrooms and an outdoor pool, 27East reported. Aside from training a few Kentucky Derby contenders, Lomita and Sim are known for上海贵族宝贝交流区 上海贵族宝贝论坛 being among the first buyers in Extell’s One57. [27East]

To hunt, or not to hunt, that is the question in Southampton

Oh deer. Hunters in Southampton Town are up in arms with the local Community Preservation Fund for barring hunting on certain town-owned land. Historically, hunters can go onto any land during hunting season unless otherwise specified by private property owners. They must also keep at least 250 feet away from occupied structures, 27East reported. But this year, the CPF partnered with the State Department of Conservation to identify and manage 430 acres上海贵族宝贝论坛 上海贵族宝贝 of town-owned land appropriate for hunting. The agencies also deemed several plots unsuitable for hunting, now bearing “no hunting signs. Michael Tessitore, president of the n上海龙凤论坛 新上海贵族宝贝论坛onprofit Hunters of Deer group, said CPF doesn’t have the jurisdiction to prohibit hunting. “If a hunter is within the [250 feet] zone, it’s not up to the CPF to enforc上海千花网论坛 上海千花网e,” he told the paper. [27East]

Tags: east end, Hamptons, montauk
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Denver’s luxury real estate market can’t stop, won’t stop

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Talk about being high all the time. May was a record breaker for Denver’s high-end real estate market, as 179 homes priced over $1 million sold and closed, which marks an increase of over 21 percent from the month prior and 38 percent year-over-year, according to Denver Metro Association of REALTORS. It’s not just the high-end that’s doing well. Of the available list上海千花社区 上海千花网交友ings on the market, only 41 p上海千花网交友 上海千花网论坛ercent are pr上海千花网交友 上海千花网论坛iced below $500,000, according to Steve Danyliw, chairman of the DMAR Market Trends Committee and爱上海同城手机版 新爱上海同城对对碰论坛 a Denver real estate agent. Lower than normal supply is thought to be one of the main drivers. [Forbes] 

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Keith Rubenstein

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Somerset Partners is movin on up to the South Bronx Developer has signed five-year lease for space in the Bruckner Building

Keith Rubenstein and the Bruckner Building

Keith Rubenstein plans to increase his already sizable footprint in the South Bronx by moving his company there.

Somerset Partners, which is planning a massive development with the Chetrit Group on the South Bronx waterfront, is moving its headquarters to the area, Rubenstein told The Real Deal. The firm s office is currently located in the heart of Midtown at 450 Park Avenue.

The company signed a five-year lease for 3,000 square feet of space on the fourt爱上海同城 爱上海h floor of the Bruckner Building. The space should b爱上海同城 爱上海e ready in 30 to 45 days, he said. Until then, the firm will work out of a temporary space in the neighborhood at 2413 Third Avenue.

“We love the space, love the building,” Rubenstein said, “and we’re doing so much up here, we thought it would be a good idea to relocate here and be here all the time.”

The Bruckner Building is located at 2417 Third Avenue, extremely close to Somerset Partners’ and the Chetrit Group’s massive waterfront project at 2401 Third Avenue and 101 Lincoln Avenue. The seven-building complex is expected to contain 1,300 rental units, and the companies are in the market for a construction loan of up to $500 million for it.

The project will be broken down into two 25-story buildings and one 16-story building at 2401 Third Avenue, along with three 24-story buildings and one 22-story building at 101 Lincoln Avenue. Construction is expected to wrap up late in 2019.

Rubenstein has already established a strong presence in the South Bronx’s Mott Haven neighborhood, supporting new businesses including the Italian restaurant La Grata, the café Filtered Coffee, the art gallery and fashion boutique 9J, and the boxing gym SouthBoX, which occupies the same building where Somerset will have its temporary space. He plans to open a food hall in the neighborhood as well.

The waterfront project attracted a fair amount of controversy about two years ago when the development team put up a billboard advertising that the “Piano District” was coming soon to the South Bronx, which some residents interpre新上海贵族宝贝论坛 上海贵族宝贝交流区ted as an attempt to rebrand 爱上海同城 爱上海the neighborhood. The developers have since taken down the billboard.

Somerset used to own 450 Park Avenue but sold it to Crown Acquisitions and Oxford Properties Group in 2014 for about $545 million. The Bruckner Building is owned by Hornig Capital Partners and Savanna, which closed on the property in 2015 for roughly $30.6 million, according to city records.

Rubenstein and Daren Hornig, managing p上海夜网 阿爱上海同城artner of Hornig Capital, declined to say how much Somerset would pay for the space, although Hornig described it as “market rent.” Other tenants include the recording studio Polo Ground and the drone company Duro. Horning said he was thrilled to add Somerset and Rubenstein to this list.

“He could be anywhere, literally, in New York,” he sa[……]

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Realtor.com

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The media mogul is pushing hard into the digital-listings space and has a bull’s-eye on the NYC market

Rupert Murdoch, the hard-boiled executive chairman of News. Corp., is using Realtor.com to drive advertising dollars to the company.

“What the hell does Zillow mean?”

It was 2015, and the bull-headed media mogul Rupert Murdoch was speaking at a gathering of 4,000 real estate agents in Midtown Manhattan. “We know what ‘realtor’ means,” he said.

Murdoch had made a career out of big-game hunting, and this time his target was Zillow. Ever since buying StreetEasy in 2012, the $7.5 billion real estate giant had reigned over New York’s listings market.

A few months before lashing out at Zillow, Murdoch’s News Corp. shelled out nearly $1 billion to acquire Move Inc., the parent company of Zillow’s chief rival, Realtor.com. Murdoch applied his signature playbook, bringing in fresh blood to run the company and pouring millions of dollars into a flashy advertising campaign.

But it’s only in the past few months that Realtor.com has emerged as one of the most viable threats to StreetEasy.

Given how lucrative this corner of the business is — the market for agent advertising is pegged at $15 billion — it’s no wonder News Corp. has muscled its way in, not just in New York but around the globe. In the last year, Amazon and Facebook have both pounced on the real estate market, with Amazon teasing a potential agent-referral service and Facebook creating a real estate “marketplace” to post listings.

“The ad dollars that go into it are huge,” said Brad Inman, founder of real estate site Inman News. “It’s too big of an opportunity to pass up.”

Murdoch has said as much himself: “We live in an age when more people than ever are going to portals like Realtor.com when they’re serious about property. There’s a lot of advertising to be had.”

Still, as national listings aggregators have rushed to launch in cities around the country, New York has proved to be relatively untouchable because it lacks a centralized Multiple Listings Service for aggregators to suck listings from.

Zillow broke into the Big Apple back in 2012 by shelling out $50 million for StreetEasy, which had launched six years earlier and cracked the New York code by scraping listings from the brokerages’ websites.

While the firms resisted StreetEasy at first, without an MLS the site was the only game in town. Firms soon saw how much traffic it drove to their websites and began feeding it listings directly.

But in the last year, as Zillow has rolled out a series of controversial programs to monetize StreetEasy, competitors, including Realtor.com, have smelled opportunity. With the brokerage community now fractured over how to deal with StreetEasy — boycott it or fork over cash to advertise on its site and pay for rental listings — the fight between aggregators to woo firms and land listings has intensified.

“If Realtor.com can gain an edge by gaining listings that StreetEasy and Zillow do not have, they’ll absolutely jump[……]

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1 Park Row

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Here s what 1 Park Row in the Financial District will look like Building appears to have between six and seven floors above three floors of retail space

1 Park Row (Credit: Fogarty Finger Architects)

New renderin爱上海同城对对碰 爱上海同城论坛gs for 1 Park Row indicate that the project planned for the Financial D上海贵族宝贝 上海千花网龙凤论坛istrict site could be getting bigger.

Rendering of  floor of 1 Park Row (Credit: Fogarty Finger Architects)

Plans filed in October for the Guardian Realty Management project were for a 21,500-square-foot building with three floors of retail space, but renderings show that there will be about six or seven sto上海千花网龙凤论坛 上海千花社区ries above the retail at least, according to New York YIMBY. Th爱上海同城手机版 新爱上海同城对对碰论坛e project is located at the corner of Park Row and Ann Street, and its design includes curved window panels and metal ribbons to separate the stores.

Demolition is proceeding apace, but it is still unclear when the project wil上海贵族宝贝 上海千花网龙凤论坛l be finished.

The site was previously home to the electronics store J R Music and Computer World, but that shut down in 2014 after 43 years. [NY YIMBY]  – Eddie Small

Tags: Architecture and Design, Development, NYC Retail Market
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Hard Rock International plans to build hotel and residences in New Orleans

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There could soon be a new place to party in New Orleans as Hard Rock International is proposing an hotel and residential tower near the famed French Quarter in the city’s Central Business District. 新爱上海同城对对碰论坛 上海同城对对碰交友社区The 18-story to上海贵族宝贝交流区 上海贵族宝贝论坛wer will hav爱上海同城手机版 新爱上海同城对对碰论坛e 350 hotel rooms and 62 residential units, as well as 12,000 square feet of event space and a rooftop bar. The hotel is scheduled to open in spring 2019, and the residences could be listed as early as spring this year. [Curbed]

Tags: National
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SquareFoot

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A NYC office brokerage startup just raised $7M in a Series A round SquareFoot was founded by JLL veteran in 2012

Jonathan Wasse上海千花社区 上海千花网交友rstrum

Office brokerage startup SquareFoot raised $7 million in a Series A funding round, the company announced Wednesday.

Rosecliff Ventures led the round. Peak Partners, RRE Ventures, Primary Venture Partners, Armory Square Ventures and Entrepreneurs Roundtable Accelerator also chipped in.

Founded in 2012 by Aron Susman, JLL veteran Jonathan Wasserstrum and Boxer Property veteran Justin Lee, SquareFoot hopes to make the search for office space more transparent by combining traditional brokerage work with an online platform. Clients can browse for space, exchange documents or contact brokers online.

Th上海夜网 阿爱上海同城e brokerage, which has 10 agents, initially focused on representing tenants but is looking to represent more landlords as well, Wasserstrum said. It also plans to expand to more markets beyond New York City.

SquareFoot brokered around 100 leases last year, according to Wasserstrum, but 上海龙凤论坛sh1f 上海龙凤论坛is on track to i上海同城对对碰交友社区 上海夜网论坛ncrease that number this year with 40 leases recorded in the first quarter. Most deals are between 2,000 and 10,000 squar上海龙凤论坛 新上海贵族宝贝论坛e feet.

In 2016, the company brokered mattress maker Casper’s 32,000-square-foot lease at 230 Park Avenue South. Its other past clients include Yale University, City Block and Roivant.

Tags: Commercial Real Estate, NYC Brokerages, startups
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Buyer snaps up 5 floors in Norwalk office building

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Hanover Norwa上海夜网论坛 上海夜网lk Investors LLC, an affiliate of Greenwich-based Hanover Real Estate Partners, has scooped up five floors in a Norwalk office building, the Fairfield County Business Journal reported. Matrix Norwalk LLC sold the 179,292 square feet at 535 Connecticut Avenue for an undisclosed price. The sale was “the largest acquisition of Class A office space in Norwalk — and one of the largest in Fairfield County — this ye爱上海龙凤419桑拿 上海龙凤论坛sh1far,” according to the outlet. The building’s tenants include UBM, Crius and Belvoir, and it is currently 74 percent leased. Avison Youn爱上海龙凤419桑拿 上海龙凤论坛sh1fg had the listing. [FBJ]

Tags: Westchest新上海贵族宝贝论坛 上海贵族宝贝交流区er Fairfield
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32BJ Amazon

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32BJ is very happy that Amazon is coming
to Queens Union has secured a deal to provide maintenance and security for tech giant’s headquarters

32BJ president Héctor Figueroa at a rally (Credit: Getty Images)

A major New York building workers union has come out strongly in favor of Amazon bringing p上海龙凤论坛sh1f 上海龙凤论坛art of its second headquarters in Queens.爱上海同城论坛 爱上海同城

The union 32BJ SEIU announc上海同城对对碰交友社区 上海夜网论坛ed its support of the move after it secured a deal for union labor to cover security and maintenance at the project, according to Crain’s. The group estimated the project could lead to as many as 3,000 jobs for union members.

Members already had prior agreements with TF Cornerstone, which is developing part of the Amazon project, and Plaxall, which owns land that will become part of the tech giant’s second headquarters.

Amazon’s deal has faced strong opposition over the tax breaks the company will receive, but 32BJ, which is among Gov. Andrew Cuomo s biggest supporters, has said this opposition is excessive because the subsidies come from sources available to several different types of businesses. Union president Héctor Figueroa told Crain’s that local and state officials should invest more in infrastructure and affordable housing to make sure the neighborhood can handle Amazon’s arrival.

“We feel the development that will house Amazon is positive and a benefit to New York and to the Long Island City community,” he said.

Both Cuomo a上海千花网 爱上海同城对对碰nd Mayor Bill de Blasio said Amazon s new campus would create union jobs, but the MOU doesn t specifically mention the labor type.

Tags: 32BJ SEIU, amazon, Amazon HQ2, Commercial Real Estate, tf c阿拉爱上海同城 爱上海龙凤419桑拿ornerstone, Unions
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