550 Washington Street

City plans to extend the South Village Historic District Landmarks hearing slated for next month

Rendering of St. John’s Terminal

The Landmarks Preservation Commission intends to introduce next month a new extension for the South Village Historic District, appeasing preservationists and possibly paving the way for a planned mixed-use complex nearby at 550 Washington Street.

Devel阿拉爱上海同城 爱上海龙凤419桑拿opers Westbrook Partners and Atlas Capital Group need City Council approval for the 1.7 million-square-foot development they have planned at the site of St. John’s Terminal, across from Pier 40 on上海同城对对碰交友社区 上海夜网论坛 the Hudson River. The proposed five-building complex will include over 1,500 apartments, a hotel and 400,000 square fe上海千花网交友 上海千花网论坛et of retail space.

For the plan to move forward, the developers need the vote of the local representative, Corey Johnson, who made the landmarking of the South Village Historic District a condition to giving his blessing.

If we are to approve the 550 Washington St. application, the city must also extend landmark protections to the historic blocks south of Houston Street, said Johnson during testimony before the City Planning Commission.

The rezoning needed for the St. John’s Center has the support of the Hudson River Park Trust and the de Blasio administration. Of the project’s 1,500 apartments, 25 percent will be enrolled in the city’s affordable housing program, and the City Planning Commission recently approved a $100 million sale of air rights to the developers.

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Citi Habitats

Citi Habitats to shutter longtime West Village office Resi brokerage said closure was part of move away from small storefront model

114 Perry Street in the West Village (inset: Gary Malin)

Citi Habitats is shuttering one of its oldest storefront locations in the West Village. The company has operated a location there for nearly two decades.

Company president Gary Malin said the decision to close the office, at 114 Perry Street, came amid a shift in the firm s Manhattan business plan to focus less on brick-and-mo爱上海同城 爱上海rtar storefronts and more on larger consolidated spaces where all of its agents can be in one place.

The closure brings Citi s total office count to just five爱上海同城 爱上海 in Manhattan, down from 17 at its peak, though the remaining spaces are la阿爱上海同城 阿拉爱上海同城rger.

Small storefronts no longer fit with our Manhattan 爱上海龙凤419桑拿 上海龙凤论坛sh1fbusiness plan, Malin said. To better accommodate our clients and agents, we opened a large, state-of-the-art office at 665 Broadway at Bond Street to serve downtown Manhattan. This workspace was designed to replace 爱上海同城对对碰 爱上海同城论坛our old storefront locations in the East and West Village as their respective leases expired.

Citi, one of the largest residential brokerages in the city, has been consolidating its Manhattan presence for several years. In 2012, it shuttered two offices at 27 East 22nd Street and 32 East 22nd Street and relocated agents to the firm’s Headquarters On Park Avenue South.  In 2013, it closed its two Upper West Side offices in favor of a large[……]

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Guo Wengui

China seeks real estate magnate who threatened to blow whistle on party corruption His threat sur阿爱上海同城 阿拉爱上海同城faced after a deal went sour

Chinese Foreign Ministry spokesperson Lu Kang (Credit: Nicol上海夜网 阿爱上海同城as Asfouri/AFP/Getty Images)

Interpol is searching for Chinese billionaire and real estate magnate Guo Wengui, who claims he can reveal corrupt上海贵族宝贝 上海千花网龙凤论坛ion at the highest echelons of the Communist Party.

The agency issued a red alert on Wednesday, which is basically an international arrest warrant for Guo, though the charges he would face are not clear, the New York Post reported. Chinese Foreign Ministry spokesperson Lu Kang revealed the alert on Wednesday.

According to Guo, the family of He Guoqiang, a 上海同城对对碰交友社区 上海夜网论坛former top Communist Party official, had a financia上海千花社区 上海千花网交友l stake in one of China s biggest brokerages, Founder Securities, the New York Times reported. Guo had tried to acquire a stake in the company himself, but the deal fell through. Guo has alleged that He s son had a hand in the deal collapsing.

If true, He s link to Founder Securities could be problematic, given the fact that he was in charge of eliminating corruption within the party s ranks.

Guo s also been linked to Ma Jian, a former vice minister of China s intelligence service who was charged with corruption in February. Guo is believed to be in London, but he also recently spent time at Donald Trump s Mar-a-Lago resort, where he is a member. [NYP] — Kathryn Brenzel 

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Related Midwest Loop

Related Midwest and JDL plan four Chicago skyscrapers, Dropbox signs largest lease in San Francisco’s history, and more… National market report

Chicago: Related and JDL plan four skyscrapers outside Chicago’s Loop

Related Midwest and JDL Development each submitted zoning plans to the city for major towers outside Chicago’s downtown Loop neighborhood, according to the Chicago Tribune. The projects further cement developer confidence in neighborhoods outside the city’s central business district.

The Loop

Related Midwest is planning what would be the two tallest towers in the Fulton Market district: a 58-story residential and hotel tower and a 51-story residential tower on adjacent blocks just west of Interstate 90. Related is applying for 270 residential units, 165 hotel units and 150 parking spaces. Its other building will have 300 residential units, 220 parking spaces and ground-floor retail.

The projects are significant for Fulton Market, which mostly has low-rise former manufacturing buildings. Google moved its Midwest headquarters to the increasingly popular neighborhood  in 2015 and has since been followed by Dyson and McDonald’s.

Meanwhile, Chicago-based JDL Development is planning a 76-story and a 45-story tower connected by a nine-story retail base. The project, One Chicago Square, is being developed on a former Archdiocese of Chicago parking lot north of the Loop. In total, the development will have 45,000 square feet of office space and 659 parking spaces. At 1,011 fee[……]

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Investor betting $87.6M on pair of 21

American Landmark Properties, a Skokie, Illinois-based real estate investor, is in contract to buy上海龙凤论坛sh1f 上海龙凤论坛 two half-occupied office towers in the suburbs north of Chicago. The two 21-floor towers, now known as Schaumburg Towers, were once the headquarters Zurich North America. The properties are expected to 上海千花网交友 上海千花网论坛go for $87.6 million, with American Landmark looking to raise $29.9 million in capital and fina新上海贵族宝贝论坛 上海贵族宝贝交流区ncing $57.7 million in debt. [Crain’s Chicago Business]

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Tax Reform Real Estate

Steel tariffs unlikely to slow down office, industrial construction: report A weekly feature bringing you the industry’s latest intel

A steel mill and NYC offices

Residential

Sales | Apartme上海贵族宝贝交流区 上海贵族宝贝论坛nt List

The majority of New York homebuyers are apparently undeterred by tax reform, with 54 percent saying that the Tax Cuts and Job Acts of 2017 have no impact on their plans. The view of the new tax law’s effects on homeownership上海龙凤论坛 新上海贵族宝贝论坛 is divided along party lines, with 38 percent of Democrats reporting negative impact compared to just 10 percent for Republicans, according to Apartment List. Overall, 26 percent of potential homebuyers in the US plan to delay their purchase because of new tax regulations. Read the report here.

Sales | Leslie J. Garfield

Between March 4 and 17, three townhouses were sold in Manhattan. The most expensive transaction was for the Vanderbilt Mansion, at 16 East 69th Street, which sold for $39 million ($3,220 per foot). The deal stands as the most expensive residential transaction in the Upper East Side so far this year. Nine townhouses were list上海贵族宝贝论坛 上海贵族宝贝ed in Manhattan during the period, the priciest of which is hedge fund manager Philip Falcone’s 22 East 67th Street townhouse, which has an asking price of $39 million. Read the report here.

Sales | Olshan

Between March 12 and 18, there were 26 contracts signed in Manhattan at $4 million and above. For the third time this year, the most expensive contract was for a townhouse. The 10,253 square foot home at[……]

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Real Estate Pay

Probing paychecks TRD surveyed an array of jobs across the L.A. real estate industry to find out who’s raking in the big bucks and whose salaries are waning in today’s market

(Illustration by Osvaldo Casanova)

Like most reality shows, Bravo’s “Million Dollar Listing Los Angeles” tends to airbrush a less glamorous reality. By showcasing the schmoozing over lunches, Rolls-Royces and fancy open-house cocktails, the show paints a very posh picture of what working in real estate is like — and gives the perception that most people in the industry operate at that level of play.

But as interviews with brokers, appraisers, property managers and others in the field have shown, that’s far from the truth for the majority of those working in real estate. And that’s particularly true when it comes to the kind of cash being thrown around.

“When you look at the cold, hard money, it’s a lot less than what people think because we spend so much on our business,” said Jonathan London, an agent at Compass’ Beverly Hills office.

An analysis by The Real Deal shows compensation for real estate-related jobs run the gamut, from $30,000 for a broker’s assistant all the way up to $12 million and higher for a successful developer. Even within specific sectors, salaries can vary by the hundreds of thousands based on factors like experience, firms, location and connections. And just like a property on the market, much of it is negotiable.

Yet in recent years, there’s been a widening gulf between what the major[……]

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The Wing

The Wing expands Manhattan footprint The women-only co-working firm is taking an additional 15K sf in Soho and the Flatiron District

Audrey Gelman and Lauren Kassan at the Wing s 45 East 20th Street location (Credit: Facebook)

The Wing, a women-only co-working firm, has signed lease expansions at its first two locations.

The company is taking an additional 15,000 square feet at Abner Properties’ 45 East 20th Street in the Flatiron District and Nathan Baden’s 52 Mercer Street in Soho.

At its original location in Flatiron, the Wing is tacking on 5,000 square feet on the 11th floor, 上海夜网 阿爱上海同城bringing its total s上海贵族宝贝交流区 上海贵族宝贝论坛quare footage in the building to 14,000. 新上海贵族宝贝论坛 上海贵族宝贝交流区Meanwhile, the company is taking over the fourth floor in the Soho building, gr上海千花网交友 上海千花网论坛owing its total spread to 20,000 square feet across two floors.

“It’s an especially big deal for us to expand our original Flatiron space, which we opened only 19 months ago,” said Lauren Kassan, the Wing’s co-founder and COO.

Since its launch, the Wing has raised $40 million in funding. It used $8 million in Series A funding from April of last year toward its expansion into Brooklyn and Washington D.C. One of its investors is rival WeWork, which led the $32 million Series B round with venture capital firm New Enterprise Associates.

The company was recently in the news after the New York City Commission on Human Rights scrutinized its no-men-allowed rule. In an interview with Business Insider, Audrey Gelm新爱上海同城对对碰论坛 上海同城对对碰交友社区an, the Wing’s co-fo[……]

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One Dag Hammarskjöld

Rockpoint Group lands $430M loan for
One Dag Hammarskjöld purchase Wells Fargo, Brookfield Asset Management team up to finance $600M acquisition

One Dag Hammarskjöld,  Wells Fargo CEO Tim Sloan, and Rockpoint Group’s Paisley Boney (Credit: Wikipedia)

Rockpoint Group tapped Wells Fargo and Brookfield Asset Management to finance its $600 million purchase of the One Dag Hammarskjöld office tower in Midtown East.

Wells Fargo and Brookfield teamed up to provide Rockpoint with $430 million in debt to for its purchase of the 815,000-square-foot tower, sources told The Real Deal. The Boston-based private equity fund closed on its purchase of 爱上海龙凤419桑拿 上海龙凤论坛sh1fthe 1970s-era building from Ruben Companies Tuesday.

Representatives for Rockp阿拉爱上海同城 爱上海龙凤419桑拿oint and the lenders could not be immediately reached for comment.

Cushman Wakefield’s Gideon Gil negotiated the financing for Rockpoint. The Cushman team of Douglas Harmon, Adam Spies and Kevin Donner negotiated the sale of the building for Ruben. The brokers couldn’t be reached for comment.

Rockpoint Group has a track record of working with Wells Fargo. Last year, the lender pro上海千花网交友 上海千花网论坛vided Rockpoint and its partner Brooksville Company with a $502 million loan to finance their $905 million purchase of the massive Starrett City housing complex in East New York.

The San Francisco-based bank also provided Rockpoint with a $280 million loan in 2016 to acquire a pair of rental towers in the Financial District, and in late 2014 provided a $115 million to finan[……]

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Toll Brothers

Toll Brothers just had its worst quarter for contracts since 2010 California buyers couldn’t be found, luxury homebuilder sa爱上海同城论坛 爱上海同城id in Q1 earnings report

A Toll Brothers home in California and Toll Br阿拉爱上海同城 爱上海龙凤419桑拿others CEO Doug Yearley (Credit: Getty Images and Facebook)

The disappearance of buyers in California and a tepid luxury market in New York helped send Toll Brothers new home orders down 24 percent in the first fiscal quarter of 2019, its worst showing since the throes of the Great Recession.

In the first quarter, the company’s revenue grew but contract volume dropped significantly due to broader market sluggishness. Home sales revenue was up 12 percent year-over-year to $1.32 billion, but at the same time, net signed contract value tumbled 31 percent to $1.16 billion — and units in contract fell 24 percent to 1,379.

In terms of new homes going into contract, it was was the worst quarter for Toll Brothers since a 27 percent year-over-year drop in the third quarter of 2010.

The company attributed the decline to “a lack of current inventory in certain locations and the industry-wide slowdown that began in the second half of 2018,” CEO Douglas Yearley said in the statement. “Although we experienced a year-over-year decline in contracts each month of this first quarter, the decline decreased as the quarter progressed.”

Overall in the quarter, net income was $112.1 million, compared with $132.1 million a year earlier. The decrease was due to the federal tax law change, Toll Brot[……]

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