Month: June 2019

685 Fifth Avenue

Gulaylar in contract for 685 Fifth’s offices after Shvo deal falls through Turkish firm plans to develop five-story addition

The New York property development arm of Turkish jewelry company the Gulaylar Group entered contract to acquire the 90,000-square-foot office component at General Growth Properties and Thor Equities’ 685 Fifth Avenue in Midtown, sources told The Real Deal上海千花社区 上海千花网交友. Developer Michael Shvo, who had signed a contract in November, has since backed out, sources said.

As part of the deal, the Gulaylar Group will develop the five e上海贵族宝贝论坛 上海贵族宝贝xtra floors of office space planned for the 20-story, 115,000-square-foot property, near East 54th Street. The expansion is expected to raise the building’s height to 292 feet from 227 feet.

Gulaylar affiliate City’s Property Development New York signed a contract in March and is expected to close on the deal later this year, sources said.

The price was not immediately clear, but sources said Shvo was set to pay north of $110 million, or $1,225 per square foot.

Sources familiar with the deal said Shvo could still be involved in the deal if Gulaylar were not to close.

Representatives for GGP and Shvo could not be immediately reached for comment, while Thor declined to comment.

GGP and Thor acquired the building in full for $460 million from Gucci in 2014.

In February, lux阿拉爱上海同城 爱上海龙凤419桑拿ury handbag retailer Coach signed a lease to anchor the property with a 23,400-square-foot global flagship store known as the “Coach House.” The retail asking[……]

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10 East 34th Street

Turkish trade group inks 28K sf lease at 10 East 34th St. Caerus Group is repositioning the building, which it bought fo爱上海 爱上海同城手机版r $52M earlier this year

10 East 34th Street and Leo Tsimmer (inset)

A Turkish trade group has signed a lease for nearly 30,000 square feet of office space at the Caerus Group’s 10 East 34th Street.

TTC USA Consulting Corp. inked a lease 上海千花网论坛 上海千花网for 27,750 square feet across five floors at the 10-story property near the Empire State Building, the Wall Street Journal reported.

Asking rents for the space started at $65 per square foot.

TTC was drawn to the space because it could house different industries and products made in Turkey on separate floors, said ABS Partners’ Andy Udis, who represented Caerus with colleague Ronald Zimmerman.

With this deal locked up, the office portion of the building is fully le新爱上海同城对对碰论坛 上海同城对对碰交友社区ased, with an additional 9,000 square feet of retail on the ground floor and lower level still available.

CBRE brokers Snezana Anderson, Bernhard Weinstabel and Paul Walker represented TTC.

Caerus, led by Leo Tsimmer, bought the上海同城对对碰交友社区 上海夜网论坛 building earlier this year in February for $52 million and is redoing the façade and making other improvements to appeal to TAMI tenants. [WSJ, 3rd item] – Rich Bockmann

Tags: 爱上海同城手机版 新爱上海同城对对碰论坛ABS Partners, Caerus Group, CBRE
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Abraham Brach

Developers add second building to
Broadway Triangle resi project Project at former P上海千花网 爱上海同城对对碰fizer property will be two buildings instead of one

58 Gerry Street in The Broadway Triangle

Developers Juda Klein and Abraham Brach have revised their plans for Brooklyn s Broadway Triangle, optin阿爱上海同城 阿拉爱上海同城g for two separate residential buildings on the site instead of one 41-unit property.

Klein, who heads Parkview Management, bought the last remaining lot of Pfizer’s Broadway Triangle site with a group of investors led by Brach in January for $27.5 million. Parkview then filed plans in March to build a roughly 100,000-square-foot, seven-story building with 41 residential units on the former site of Pfizer s headquarters at 58 Gerry Street.

However, the development team now plans to construct two buildings on the site instead of one, essentially splitting their original plans in half, according to Ben Frances of Parkview Management.

Klein filed plans with the city for one of those buildings on Tuesday, a new permit application sho上海夜网 阿爱上海同城ws. The mixed-use property would include 3,632 square feet of commercial space and 18 residential units across 37,392 square feet of residential space. The building would span 上海千花网 爱上海同城对对碰41,024 square feet in total, and Parkview plans to break gro爱上海同城手机版 新爱上海同城对对碰论坛und on it soon.

Although Frances had previously described the development to The Real Deal as upscale religious housing for the Orthodox Jewish community, in an interview on Tuesday, he stressed that the project woul[……]

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NYC New Development Marketing Ranking

We ranked the 10 biggest new-development marketing firms by closed sales Corcoran once again claimed the top spot

Source: TRD analysis of sponsored sales in new development buildings t新爱上海同城对对碰论坛 上海同城对对碰交友社区hat closed between June 1, 2014 and May 31, 2017 in Brooklyn, Queens and Manhattan. Only buildings with a price-on-acceptance of $20 million or MORE were considered. To qualify as a new development, the offering plan on the building must have been effective AS of Jan. 1, 2010. Any buildings that were effective before 上海千花网交友 上海千花网论坛that date were not considered, unless a later amendment showed a new sponsor and sales offerings of at least $20 million. No re-sales were considered: Brokerages must have demonstrated that they were the sponsored agent on the building for their sales to count. TRD analyzed deeds recorded in ACRIS, listing credits in StreetEasy and OLR, and documentation from firms to assign credit.

For all the uncertainty in the market, The Real Deal’s latest ranking of new-development firms, in many ways, reflects our previous rankings — though this time around we’ve included projects in Brooklyn and Queens, where new condos have sprouted like weeds in the last five years.

The top firms on the ranking closed a combined $20.62 billion in new development condos in the last three years.

Once again, when analyzing closed sales, the Corcoran Group came out on top.

The firm — which has long been the most dominating force on New York’s new-development brokerage scene — closed $9.13 billio[……]

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Greenwich considers controversial affordable apartment construction plan

The Planning and Zoning Commission in Greenwich will decide the fate of a plan to build a 52,000-square-foot apartment building on Sound Beach Avenue after hearing final arguments this week. The 60-unit building’s developers, 143 Sound Beach Associates, believe that the 18 affordable housing units included in the plan will aid in its approval sinc上海千花网交友 上海千花网论坛e Connecticut law makes it difficult to deny permits to projects that include affordable housing if less than 10 per上海贵族宝贝论坛 上海贵族宝贝cent of the city’s housing is affordable. Greenwich falls well below that mark. Residents object to the plan because of a potential increase in traffic and a lack of parking. The pro阿爱上海同城 阿拉爱上海同城posal only offers 47 parking spaces, Greenwich Time reported. [Greenwich Time]

Tags: Westchester Fairfield
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Bess Freedman

Bess Freedman named co-president of Brown Harris Stevens Resi firm’s No. 2 has been staunch backer of RLS and a critic of StreetEasy

Bess Freedman and Hall Willkie

Bess Freedman — Brown Harris Stevens second-in-command — has been promoted to co-president of the residential brokerage.

In that role, she will run the firm alongside longtime brokerage head Hall Willkie, Willkie told agents in an email Thursday. It has been several years since my role as president can be accomplished by just one person,” he wrote. We are all extremely fortunate to work with Bess, and it is my honor to share with her not only the responsibilities of my job, but my title as well.

Trained as a lawyer, Freedman was an assistant district attorney in Maryland and worked for the Legal Aid上海贵族宝贝论坛 上海贵族宝贝 Society in New York City before turning to brokerage. Before BHS, she spent 10 years at the Corcoran Group, where she rose to senior managing director of the firm s East Side headquarters. She joined BHS in 2013 as managing director of sales and business development and in that capacity has challenged BHS reputation as an older, conservative firm.上海同城对对碰交友社区 上海夜网论坛

We do record-breaking sales, we’re known for that,” she told The Real Deal this summer during a wide-ranging interview. But the firm is also edgier and younger than it once was, she argued. “It’s evolved,” she said. “We’re growing.”

F上海贵族宝贝交流区 上海贵族宝贝论坛ounded in 1873, BHS has about 500 agents and closed more than $4 billion in sales last year. The firm, owned by Arthu[……]

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Vanderbilt Mansion NYC

Johnson Johnson heiress UES mansion sells for $39M Billionaire Tianqiao Chen appears to be buyer of the Vanderbilt Mansion

16 East 69th Street

Johnson Johnson heiress Elizabeth Libet Johns上海千花社区 上海千花网交友on s Upper East Side mansion has sold for $39 million — an $8 million loss for the late socialite s estate.

Located at 16 East 69th Street, the Vanderbilt Mansion spans 12,000 square feet. Johnson, who died in June, bought the property for $47 million in 2011 and listed it for $55 million in 2016. The purchase price — $16 million less than the original asking amount —  works out to $3,220 per foot.

The buyer appears to be billionaire Tianqiao Chen, a tech entrepreneur and CEO of Shanda Group, according to property records filed with the city Thursday.

16 East 上海千花网 爱上海同城对对碰69th Street

Built in 1881, the brick-and-limestone house is 33 feet wide with seven bedrooms, a landscaped garden, five wood-burning fireplaces 上海龙凤论坛 新上海贵族宝贝论坛and two terraces. Its original owner was Alice Gwynne Vanderbilt. Johnson bought the property from founder Roger Barnett and Sloan Lindemann Barnett, George Lindemann s daughter.  She tapped architect Peter Marino to redo the interiors, which include a gym, sauna and steam room, hair salon and staff apa上海夜网 阿爱上海同城rtment.

After listing it for $55 million, Johnson briefly put the property on the rental market asking $95,000 a month. Weeks after Johnson s death last year, her estate lowered the asking price. Brown Harris Stevens John Burger and Sotheby s International Real Estat[……]

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NYC Real Estate

Tune in next week for a few events!

On May 14, join us as we host our 11th Annual New York Showcase + Form from 10:30 a.m. to 5 p.m. at the Metropolitan Pavilion, 125 West 阿拉爱上海同城 爱上海龙凤419桑拿18th Street. Attend and mingle with investors, brokers, developers, financiers and more. Jay Badame of AECOM Tishman, Marty Burger of Silverstein Properties, Bess Freedman of Brown Harris Stevens, Raphael De Niro of Douglas Elliman, among others, will provide speeches at the event.

On May 15, join Bisnow as it hosts its Queens State of the Market event from 7:30 a.m. to 11 a.m. at the Melrose Ballroom, 36-08 33rd Street. Come and discuss the hottest development neighborhoods in Queens and who the biggest commercial tenants to influence the market. Helena Rose Durst of the Durst Organization, David Schwartz of Slate Property Group, Eri爱上海同城论坛 爱上海同城c Benaim of ModernSpaces, among others, will provide speeches at the event.

On May 16, join TerraCRG as it hosts its 8th Annual Brooklyn Only Real Estate conference at BAM at 30 Lafayette Avenue from 8 a.m. to 4 p.m. Join hundreds of re上海千花网 爱上海同城对对碰al estate professionals to discuss the powerfu上海千花网论坛 上海千花网l submarket. MaryAnne Gilmartin of L L MAG, Jed Walentas of Two Trees Management Company, Andrew Kimball of Industry City, among others, will provide speeches at the event.

To search for future industry events or browse pa爱上海同城论坛 爱上海同城st ones, click here. And to submit more industry events, please reach out to [email protected].

Tags: Commercial Real Estate, real estate events

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Real Estate’s Richest People

Money comes and money goes, but who wouldn t w新爱上海同城对对碰论坛 上海同城对对碰交友社区ant a little more of it? For most of us, the grass is always greener. When it comes to the world s wealthiest, the grass is fortunately very gree上海龙凤论坛sh1f 上海龙凤论坛n.

That being said, The Real Deal took a look at the top five richest people in U.S.爱上海同城 爱上海 real estate, according to Forbes billionaires list.

Tags: Richar新上海贵族宝贝论坛 上海贵族宝贝交流区d LeFrak, Stephen Ross, stephen schwarzman, Videos
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Goodbye brokers? VTS l爱上海同城论坛 爱上海同城aunching online commercial leasing platform Marketplace would focus on simple deals s上海夜网论坛 上海夜网panning less than 5,000 square feet

VTS CEO Nick Romito

UPDATED, Nov. 28, 6:25 p.m.: VTS is getting ready to launch a business that would automate some commercial real estate deals.

The start新上海贵族宝贝论坛 上海贵族宝贝交流区up tech firm is planning to launch the platform early next year, and it will focus on letting landlords and tenants negotiate directl爱上海同城对对碰 爱上海同城论坛y with each other on relatively small and simple commercial deals for less than 5,000 square feet, according to the Wall Street Journal. The system will work for larger deals as well.

The platform would allow landlords and tenants to negotiate deals without brokers, according to the Journal. But Nick Romito, VTS CEO, told The Real Deal that the product would be marketed to brokers, with the idea that the marketplace would make their jobs easier – similar to the way residential brokers use StreetEasy.

The five-year old tech firm and has created software to help landlords keep track of leasing deals throughout the entire process. It has information on roughly 9 billion square feet of office space in the top 20 U.S. markets, which will serve as the foundation for their new platform.

VTS merged with its rival Hightower in 2016 and has raised $106 million from Blackstone and other venture capital firms. Co-founder Brandon Weber told TRD earlier this fall that he would step back from his day job at the company but continue to sit[……]

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