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 

Tags: Politics
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.


Read more

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 feet, the 76-story tower would be the sixth-tallest in the Windy City if approved. Altogether, JDL’s project could contain as many as 914 luxury units, according to the Tribune.

The Exchange in San Francisco

San Francisco: Dropbox inks largest lease in city’s history

The cloud storage giant Dropbox inked the largest lease in San Francisco’s history in October, signing a deal for the entirety of a 736,000-square-foot office complex in Mission Bay, according to the San Francisco Chronicle.

The complex, dubbed the Exchange, is being developed by Kilroy Realty Co上海夜网 阿爱上海同城rporation for $570 million and
was marketed toward tech firms from the start. The Exchange is one building, but designed as four masses ranging from five to 12 stories, each with distinct architecture. The space is more than twice the size of Dropbox’s existing footprint in the city, around 297,000 square feet.

Kilroy CEO John Kilroy said it is “exactly what the modern tenants want: bigger floor plates, higher ceilings, lots of light, and rooftop decks everywhere.”

Dropbox is the second massive tenant Kilroy has secured for its many developments in San Francisco this year, which are mostly targeting at the tech sector and located in and around the Mission Hill neighborhood. The firm leased all of its 400,000-square-foot office building at 100 Hooper Street, which is less than a half mile from the Exchange, in February. Software company Adobe Systems took the majority of the space — around 314,000 square feet.

The Exchange is s[……]

Read more

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]

We are having some technical diffic上海千花网 爱上海同城对对碰ulties. Try爱上海同城对对碰 爱上海同城论坛 again later.

By clicking Subscribe you agree to our Privacy Policy.


Read more

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


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 46 Eas新上海贵族宝贝论坛 上海贵族宝贝交流区t 65th Street, which was originally listed for $22.5 million, went into contract with a last asking price of $14 million. Read the report here.


Impact of Steel Tariffs | CBRE

The cost of construction materials for offices and industrial buildings is expected to increase due to the Trump administration’s steel tariffs. Suppliers have increased their bid prices fo上海夜网 阿爱上海同城r rebar by five to eight percent and metal studs by three to five percent. Despite the higher costs, the effect of steel tariffs on commercial construction activity is expected to be negligible, with a skilled labor shortage posing a bigger risk.

Tags: Commercial Real Estate, nyc market reports, Residential Real Estate
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.


Read more

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 majority of those in the industry make and what the lucky few at the top of the heap take in.

When it comes to brokers, new companies setting up shop in L.A. are increasingly offering top producers more enticing splits, competitive salaries, signing bonuses and other benefits to lure them in, experts said.

“In order to gain traction and gross commission, they’re offering outrageous splits to agents that smaller companies like mine can’t match,” Stephen Shapiro, co-founder of Westside Estate Agency, said.

Less established brokers see much smaller commissions and, in some cases, have to fork over part of their cut to a seller just to represent a listing. And with inventory shrinking at the low and highest ends of the market, maintaining a deal volume that’s consistent with previous years has been a struggle, brokers said.

On the commercial side too, brokers are seeing deals dry up as big spenders anticipate a market correction and take fewer risks.

Using data from the Bureau of Labor Statistics, dozens of interviews and additional research, TRD broke down the salaries of a broad array of jobs in the real estate industry.

Residential real estate broker/agent

Holding jobs with a well-earned reputation as a career path for outspoken personalities and inflated egos, brokers in L.A. might be some of the most eccentric folks in real estate. And just as wide-ranging as the personalities are their yearly payouts.

Acc爱上海 爱上海同城手机版ording to the most recent Bureau of Labor Statistics report, a real estate[……]

Read more

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-founder, disclosed that they have a powerful backer in the case: Mayor Bill de Blasio.

The company currently has four locations in Manhattan, Brooklyn and Washington D.C. Its outposts in San Francisco and Los Angeles will open later this year.

Tags: co-working space, Commercial Real Estate
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.


Read more

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 finance the purchase of the Wimbledon apartment building on the Upper East Side.

This sale the second deal between Rockpoint and Ruben Companies. Early last year, Ruben sold Rockpoint the office building at 1700 Broadway for $465 million. Cushman Wakefield negotiated that sale as well.

One Dag Hammarskjöld sits just steps away from the United Nations complex, and c上海千花网 爱上海同城对对碰ounts a number of foreign missions and the UN’s pension fund as tenants. Other tenants at the 49-story tower at 885 Second Avenue include the law firm Wachtel Missry and Memorial Sloan-Kettering Cancer Center. The property stretches from East爱上海 爱上海同城手机版 47th to 48th streets.

Tags: Commercial Real Estate, Real Estate Finance, rockpoint group, wells fargo
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.


Read more

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 Brothers said. Pre-tax income was $151.4 million, a 15 percent increase.

Toll Brothers’ City Living segment, which primarily focuses on the New York City metro area, saw 23 contracts totaling $39.7 million. That was down from 47 units totaling $61.8 million a year earlier. The average price per unit rose to $1.72 million from $1.32 million, hel上海千花网龙凤论坛 上海千花社区ping boost revenue.

“It’s okay,” Yearley said of the City Living market during the earnings call. “It’s not strong, but it’s okay.”

While Toll Brothers is still keeping an eye out for land deals, Yearley noted the markets in Hoboken and Jersey City have slowed — and many sellers remain unrealistic about land prices.

“It’s too risky a business with the price of land,” he said. “We’re going to be very disciplined.”

Meanwhile, the company also saw a large drop in California, with 149 contracts totaling $268.9 million. That’s down from 62 percent from the same period last year, when 388 contracts totaled $646 million. Yearley noted that last year was “unique” for California because of the number of communities the company opened and the pent-up demand that existing upon openings. Going forward, the backlog provides some visibility into the market, he said.

Toll Brothers also continues to look at mergers and acquisitions options, Yearley said. Last year the company looked at 30 potential deals, despite not following through — and Toll Brothers is on pace for the same level of interest this year. The company seeks to use M A as a way to enter[……]

Read more

Luxury Construction

New high-end NYC condos are seeing an uptick in construction defects — from warped floors to fireproofing problems — and another wave of complaints could be coming

(Illustrations by Nate Kitch)

Not long after closing on a $28.5 million pad at 56 Leonard last spring, the new owner had a problem. More than one, actually.

The master bathroom allegedly had poor caulking, the deadbolts weren’t working properly, and the apartment’s oak floors were starting to warp. When the owner’s contractor tore up the floor, he discovered three layers of wood under the oak — which appeared to have been laid “to conceal defects underneath,” according to a lawsuit filed in March.

In the suit, the plaintiff, an entity tied to New Jersey trucking mogul Ronald Dana accused the developers, Alexico Group and Hines, of failing to deliver on certain promises — such as soaring 14-foot ceilings, a private elevator, a breakfast bar and an electronic curtain system for the apartment’s floor-to-ceilings windows, a marquee feature of the Jenga-like tower.

Brokers from Corcoran Sunshine Marketing Group, accused of deliberately misleading the buyer, were also named in the suit, which the developers described as “meritless.”

Construction defects, alleged or otherwise, are a hallmark of any building boom, and the last five years have been no exception. While there are no publicly available numbers on the frequency of such complaints, attorneys say latent defects usually spring up a year or so after buildings open. Many say they are already seeing an uptick, given that construction has been unrelenting since 2012. And they say it’s safe to assume that another wave of lawsuits is about to hit.

“When the Navy orders an aircraft carrier or battleship, they take it on a run first to figure out if there’s anything wrong with it. It’s a shakedown cruise,” said Stuart Saft, who co-chairs Holland Knight’s condo development and conversion team. “The same thing happens with buildings.”

At the same time, New York generally sees fewer of these cases than other states, Saft said. The primary reason for that is that the state attorney general requires sponsors to meticulously detail their projects in offering plans. Other states don’t have that level of guarantee on a project. Nonetheless, he estimated that 10 percent of new buildings — residential and otherwise — wind up in litigation.

“If you think in terms of the amount of buildings that get built in New York in such tight surroundings, it’s amazing that more things don’t go wrong,” he said.

Still, the pressure in today’s hypercompetitive market to make each building more iconic than the last — along with the often-conflicting imperative to save as much money a上海夜网 阿爱上海同城s possible — can lead to a finished product that doesn’t quite match what’s promised in marketing materials.

Unlike during the financial crisis, when cash-strapped developers may have cut corners to avoid abandoning projects altogether, today’s developers are racing against the clock — and each[……]

Read more

Melting little elder sister came ” alloy equips 5 ” silent talk to make dub newly experience

Recently, ” alloy equips 5 ” silent (Stefanie Joosten) spoke of him be in video ” final labyrinthian ” of dub a few experience. Stefanie Joosten is actor of a Holand, model, she ever was in ” alloy equips 5: Unreal is painful ” in the dub that acts the role of Quiet of show field character and appearance prototype, because this gets of broad player love, be called by a lot of people ” silent ” . This, escape in VR adventurous game ” final labyrinthian ” in, stefanie Joosten is dub of game heroine Katia, meanwhile she still sang the thematic song that writes by Hiroshi Kikuta. The fact proves this task has challenge sex very much, because the hero in game uses a kind of very peculiar language to express his opinion,this is. Video appreciation:
In video, “Silent ” state she thanks vermicelli made from bean starch very much people all the time since support energetically, and in ” final labyrinthian ” there is challenge sex very much for Katia dub in game, her hope players can from the affection that clear experience goes to a hero in dub. “Silent ” still express, oneself play first ” final labyrinthian ” test version when, the hero in also be game is touched unceasingly, she hopes this affection can communicate the player’s heart, at the same time game theme song gave her a kind of mysterious and beautiful feeling, she hopes players can like to go up heartily this game. ” final labyrinthian ” a VR that the group Amata KK that by Gao Qiaohong allusion place leads makes escapes adventurous game, predict to appeared on the market Spring 2019, expect please. [……]

Read more