Different generations of co-op owners are at odds over upgrades, fees Old, new residents often have opposing views about the future of their buildings
Southridge Cooperative Section 1 at 3325 90th Street in Queens
New York City co-op residents are increasingly butting heads over whether or not shelling out cash for revamps and improvements is worth it.
In many cases, the crux of the conflict is a generational divide: Long-term residents and those who recently moved in often have very different income l上海千花社区 evels. The issue is more concentrated in gentrifying areas.
Those who purchased in the building some 30 years ago may not have the means to shoulder the cost of extra fees and upgrades. According to data from appraisal firm Miller Samuel , the average monthly 上海千花网龙凤论坛 maintenance charges at Manhattan co-ops have ballooned by 32.9 percent since 2008, to $1.94 a square foot from $1.46.
At Southridge Cooperative Section 1 in Jackson Heights, for example, the board voted two years ago to undertake an $120,00 upgrade of the building. But not everyone thought the changes which created an extra residents bathroom, a library nook and connected the two lobbies was needed, the New York Times reported.
“The changes are very very nice, but did we really need to spend the money?” Larry Wilkes, a Southridge co-op board member who paid less than $25,000 for his one-bedroom in 1992, told the Times. “I don’t feel 上海贵族宝贝交流区 that this place 爱上海龙凤419桑拿 needs a glorious library. I spend less than[……]
Balancing act: 1 Manhattan West will rise atop a giant pedestal The off新爱上海同城对对碰论坛 ice tower will balance on the massive steel structure
Rendering of 1 Manhattan West
Brookfield Property Partners 1 Manhattan West will rise above Hudson Yards on a 51-and-a-half-foot-tall steel pedestal.
The Hudson Yards office tower will balance on a massive steel structure, which consists of a series of diagonal braces that will transfer the weight of the tower to the building s core, the New York Times reported. Thanks to the pedestal, the $1 billion tower will rise 995 feet and will hang 42-feet beyond the building s core to the north and south. The steel pedestal will be covered in travertine — a form of limestone — from Italy and will be the only support system visible from the building s glass lobby.
The building s pedestal differs from how other Hudson Yards projects deal with the existing rail yards below. The active rail yard at Brookfield s site will be covered with a concrete deck, which will serve as a public pla上海夜网论坛 za. Meanwhile, most of Related Companies and Oxford Properties Group s Hudson Yards towers are being constructed on a platform over more than 30 Long Island Rail Road tracks. The support columns in 30 Hudson Yards, for example, fall between the existing train tracks.
Brookfield s project is expected to open in 2019. A law firm— Skadden, Arps, Slate, Meagher Flom — is the building s anchor tenant after inking a 20-year lease for 550,000 square feet. In April, Crain s rep[……]
Google, Scripps and Accenture eyeing Brookfield s Manhattan West: report Rents at the Hudson Yards development range up to $105 psf
Manhatta爱上海同城对对碰 n West development (Credit: Brookfield)
Brookfield Property Partners has a lot of space to fill at its Manhattan West development, and Google, Scripps and business management consultant Accenture are all reportedly considering leases at the megaproject.
It s not clear which particular building the companies are considering, ac上海贵族宝贝 cording to the New York Post. However, Brookfield still needs to fill 1.3 million square feet at the o爱上海同城论坛 ffice tower at 1 Manhattan West. Rents at the building range up to $105 per square, according to the newspaper. Representatives for Brookfield and each of the companies would not confirm or deny whether the leases are likely to happen.
Late last year, the National Hockey League signed up for 160,000 square feet at 1 Manhattan West for 20 years. Brookfield agreed to install a seasonal skating rink with阿爱上海同城 NHL branding. In 2015, law firm Skadden, Arps, Slate, Meagher Flom became the anchor tenant at the $1 billion tower, taking 550,000 in a 20-year deal.
Whole Foods is considering taking 5爱上海同城对对碰 0,000 square feet at 5 Manhattan West, and Markit, a London-based financial data provider, inked a deal for 140,000 square feet at the building in 2015.
Brookfield’s five-building Manhattan West project also includes a 62-story, 844-unit residential tower called the Eugene. The Qatar Investment Authorit[……]
Eac阿拉爱上海同城 h week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales.
The Mooch buys Hamptons mansion Scaramucci’s wife called off plans for divorce in November
Anthony Scaramucci and Water Mill, NY
UPDATED Jan. 24, 2018 1:28 p.m.: Anthony Scaramucci, whose short tenure as White House communication director produced some of the most memorable and bizarre 10 days in American politics, just bought a $7.5 million mansion in the Hamptons with his wife Deidre Ball.
The 7,000-squa上海千花网论坛 re-feet home in Water Mill has seven bedrooms, seven bathrooms a上海千花网论坛 nd a pool. The brand new home at 30 Lawrence Court sits on a 1-acre plot that overlooks a reserve near actor Alan Alda’s property o上海夜网 n Oliver Cove Lane, according to the New York Post.
It’s only been several months since the couple, who have been married for three years, called off plans for a divorce. Ball filed for divorce in July just before the birth of their son, but withdrew the papers in November, according to the Post.
“They are planning to spend a lot of time in the Hamptons this summer,” a friend told the Post. It remains to be seen if the 爱上海同城对对碰 Mooch will last in his new location longer than 10 days. [NYP] — Chava Gourarie
Tags: celebrity real estate, Hamptons, Residential Real Estate
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Citing developments in Wyandanch and Ronkonkoma, Suffolk Co. Exec says ‘a new suburbia is on the horizon’
Citing developments in Wyandanch and Ronkonko爱上海同城论坛 ma, Suffolk Co. Exec says ‘a new suburbia is on the horizon’
The very nature of Long Island needs to change, Suffolk County Executive Steve Bellone wrote in an op-ed in the Long Island Press. A lack of “quality, affordable rental housing, mixed-use development, and public tr新爱上海同城对对碰论坛 ansit” has led to young people from Long Island to move elsewhere, Bellone wrote. Citing 上海夜网 the $650 million Ronkonkoma Hub mixed-use project and $600 million project near the Long Island Rail Road station in Wy爱上海同城对对碰 andanch, Bellone says “a new suburbia is on the horizon, and Suffolk County is leading the way.” [LI Press]
Tags: long island
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Retailers experience another drop in asking rents Average asking prices in 13 shopping districts are down almost 20 percent
CBRE s Andrew Goldberg and stores in the Meatpacking District (Credit: CBRE and Getty Images)
Retailers who have balked at soaring Manhattan rental costs may have noticed some reprieve this year, with reported asking prices dropping by almost a 20 percent across most shopping districts in the city.
The average price of ground-floor retail rental spa上海贵族宝贝交流区 ce dropped by 19.5 percent 上海千花网论坛 in 13 of 16 shopping districts in the first quarter of the year, a significant fall from last year s average $653 per square foot, according to The Wall阿拉爱上海同城 Street Journal.
The figures come at a time when merchants are fending off the rise of online shopping, and fewer retailers are seeking out physical shopfr上海千花网 onts. Average rental prices in the Meatpacking District s Washington street, between 14th and Gansevoort streets, fell to $490 per square foot, down from $623, the publication reported, citing a CBRE report.
“I think we will start to see some more of the savvier tenants of companies realize we’re starting to get to a point where they can drive some good deals for themselves,” Andrew Goldberg, CBRE s vice chairman, told the Journal
The 20 percent drop follows similar reports at the beginning of the year, when average asking rents in Manhattan’s 16 retail corridors dropped by 18.4 percent year-on-year in 2017.
Another report, released earlier this month by Cu[……]
Manhattan’s luxe resi market notched 26 contracts last week: Olshan That was the most deals on record since 2006
From left: Larry Silverstein, 1 West End Avenue, 38 Prince Street, and Francis Greenburger (Credit: Getty, Apartments, and Prince at Mott)
Manhattan’s luxury residential market was red-hot last week, with 26 contracts signed at $4 million and above, according to Olshan Realty’s weekly market report.
Th上海千花网论坛 at was the most activity for the last week of July since Olshan started keeping track in 2006. But on the flipside, luxury homes spent an average of a whopping 536 days on the market.
And almost half of last week’s luxury contracts were sold by developers, with an average discount of 15 percent off the original asking price. That suggests new condominiums “are in discount mode,” according to Olshan.
Silverstein Properties and the Elad Group’s 1 West End Avenue claimed the week’s priciest contract. Units 29B and 30B in the Lincoln Square condominium building had an asking price of $27.15 million.
The combined units span 8,506 square feet of interior space, bringing the contract price to nearly $3,200 per square foot. Douglas Elliman is handling sales at the 246-unit new development.
Time Equities’ gut renovation of the seven新爱上海同城对对碰论坛 -bedroom townhouse at 38 Prince Street in Nolita claimed爱上海同城手机版 the week’s No. 2 spot with an asking price of $23.5 million. The home, originally the west wing of the Old Saint Patrick’s School and Convent, had an original asking pri[……]
Clockwise from left: 399 Park Avenue, 1440 Broadway, 345 Park Avenue, and 1 Vanderbilt Avenue (Credit: Google Maps and KPF)
UPD上海龙凤论坛sh1f ATED, Jan. 11, 12:07 p.m.: Investment managers and co-working firms made up the bulk of last month’s biggest office leases.
All in all, December’s top office leases made up more square footage than November’s. The top 10 office lease deals totaled 2.65 million square feet, more than November’s top 10 leases, which totaled 1.8 million square feet.
1) Deutsche Bank, 10 Columbus Circle, Columbus Circle 1.1 million square feet
Time Warner Center no more: Deutsche Bank is set to take over 1.1 million square feet of office space at Related Companies 10 Columbus Circle. The television giant is relocating to another Related building in Hudson Yards. The tower will be fittingly be renamed the Deutsche Bank Center. JLL represented both sides of the deal, which carries a term of 25 years. Meanwhile, the German financial firm wi阿拉爱上海同城 ll leave behind its current headquarters at Paramount Group s 60 Wall Street.
2) Millennium Management, 399 Park Avenue, Plaza District 300,000 square feet
The asset manager signed a lease for 300,000 square feet of space at 399 Park Avenue, relocating from 666 Fifth Avenue. Asking rents in the 41爱上海龙凤419桑拿 -story building are between $73 and $90 per square foot. CBRE represented the landlord, Boston Properties.
3) WeWork, 1440 Broadway, Midtown 236,000 square feet
The co-working firm inked a lease for 236,000 square feet of sp[……]
There are a couple of real estate events coming up!
On Feb.19, Bisnow is hosting its NYC CRE Tech Summit for 2019 at 160 Varick Street. Attend the event for networking opportunities, al上海千花社区 ong with discussions among industry leaders on what innovations will impact real es爱上海同城对对碰 tate transactions. Speakers include Scott Rechler of RXR Realty and Kevin Danehy of Brookfield Property Partners.
On Feb. 21, iGlobal Forum is hosting an Opportunity Zones Invest上海千花网交友 ments Dealmakers Meeting at Hôtel Plaza Athénée, 37 East 64th Street from 9 a.m. to 3 p.m. This event offers networking sessions and features discussions on the most effective ways to utilize opportunity zone incentives. Kamil Homsi of Global Realty Capital and Bohdy Hedgcock of Clarion Partners, among others, will provide speeches at the event.
On March 5, PincusCo Media is hosting its inaugural event, its Soho/Noho Panel: After the Rezone at Herrick Feinstein, 2 Park Avenue from 8 a.m. to 10 a.m. Converse with industry experts on what may take place 上海千花网 if the rezoning happens and access an informational web page prepared by PincusCo with custom DOB data. Mitchell Korbey of Herrick Feinstein, Robin Abrams of Compass, David Schechtman of Meridian Capital Group and Brian Steinwurtzel of GFP Real Estate will be panelists at the event, moderated by PincusCo founder, Adam Pincus.
To search for future industry events or browse past ones, click here. And to submit more industry events, please reach out to [email protected[……]