311 West 43rd Street

We阿拉爱上海同城 爱上海龙凤419桑拿Work takes 64K sf in Hell’s Kitchen $17B co-working firm is moving into Billy Macklo新爱上海同城对对碰论坛 上海同城对对碰交友社区we’s 311 West 43rd

From left: Billy Macklowe, 311 West 43rd Street and Adam Neumann

WeWork signed a lease for roughly 64,000 square feet at Billy Macklowe’s Hell s Kitchen office building known as the Press.

The $16.9 billion co-working company leased the space across five upper floors at the William Macklowe Company’s 311 West 43rd Street between Eighth and Ninth avenues, sources told The Real Deal.

Macklowe, along with a subsidiary of the Iowa-based Principal Financial group, bought the 15-story, 186,000-square-foot property in Decembe上海夜网 阿爱上海同城r for $107 million and then got to work adding new lobbies, a rooftop penthouse and an outdoor deck.

He renamed the loft-style industrial building “The Press,” a nod to its history as the former headquarters of publishing giant Charles Scribner’s Sons.

Asking rents in the building are reportedly in the mid-$60s per square foot.

Representatives for WeWork and Macklowe were not immediately available for comment.

A JLL team led by Howard Hersch,上海同城对对碰交友社区 上海夜网论坛 Mitchell Konsker, Clark Finney and Matthew Astrachan is handling leasing at爱上海龙凤419桑拿 上海龙凤论坛sh1f the property.

While it’s true that WeWork is now one of Macklowe’s tenants, it could soon be one of his competitors. The startup is preparing to launch an investment vehicle to buy its own real estate properties.

In October, investors pumped another $260 million into the company, raising its total venture c[……]

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NYC Office Leasing

NYC’s 10 biggest office leases signed in November DC law firm Hogan Lovells took the most space last month in 206,720-square-foot deal

From left: Steve Immelt, 390 Madison, 787 Eleventh Avenue (credit: 787 Eleventh Avenue) and Bill Ackman

What the office market lacked in blockbuster transactions in November it made up for in tenant diversity, with everything from a millennial mommy blog to an affordable housing investor taking space in this month s top 10 leases list.

1) They can’t all go to Hudson Yards – 206,750 square feet

Although they first considered taking space at Hudson Yards, the D.C.-based law firm Hogan Lovells inked a lease at 390 Madison Avenue last month, a space nearly double the size of its current New York HQ at 875 Third Avenue. The law firm will take floors seven through twelve at the building, which is owned by the New York State Common Retirement Fund and Clarion Partners. Hogan Lovells won’t be moving there just yet, however. The building is not expected to be complete until sometime in 2018. L+L Holding Co. is leading the renovation and marketing of the property.

2) Don’t bet against Ackman at 787 Eleventh Avenue – 67,000 square feet

Pershing Square Capital Management, an investment vehicle of the Herbalife short-selling billionaire Bill Ackman, signed a 67,000-square-foot lease at 787 Eleventh Avenue on the Far West Side. Pershing is also an ownership partner in the redevelopment of the former Ford Motor Company building, alongside Georgetown Company. A CB[……]

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Resale Market NYC

Pitch Perfect: Brokers on the art of winning resale listings Prices are softening, and winning sellers over is no picnic

The pitching process for resale business increasingly mimics that of new development.

From time to time, Lauren Muss flips open a folder on her desk called “lost exclusives.” The Douglas Elliman broker, who was among the top 10 agents in The Real Deal’s most recent ranking, said she likes to track how the ones that got away are doing.

“Many brokers give a price to get the listing,” said Muss, who is marketing a co-op at 941 Park Avenue for $17 million and a townhouse on East 64th Street for $16.5 million. “I used to walk [into a resale pitch] with nothing, they’d say ‘let’s put it on’ and I’d get the exclusive. Now I’m up against at least two to five competitors.”

Winning new development listings is notoriously cutthroat, and brokerages pull out all the stops to lock down lucrative exclusives that can keep them going for years to come. But the resale world remains a prime business, and there are now so many brokers competing in the luxury space that it’s 上海同城对对碰交友社区 上海夜网论坛become even more challenging to lock down exclusives. With buyers having more variety to choose from, and sellers having more information than ever more, 上海千花网龙凤论坛 上海千花社区a resale pitch can now be just as demanding as a new development one. Brokers are ramping up their pitches, bringing along their photographers, public relations executives, social media specialists and in some cases, the presidents of th[……]

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Sitt Asset Management

The Sitt-down: Eddie, Ralph and David settle years-long legal feud His suit against Ralph and David is resolved, while Jack’s remains

From left: 2 Herald Square, Eddie and Jack Sitt

A family feud that may have cost the Sitt family their prime asset appears to be coming to an end.

Eddie Sitt has settled a long-running legal battle with his brothers Ralph and David over control of the family s asset. But while the brothers have made peace, it may be too late for the family’s flagship property, the 354,000-square-foot building at 2 Herald Square, which is facing a foreclosure auction as soon as February.

Sitt Asset Management was founded in 2001 by the four Sitt brothers and their father (whose stake was later taken over by their mother, Marylyn), and was evenly split between the five of them. Litigation between Jack, the fourth brother, and David and Ralph is still ongoing.

“We’re obviously pleased to have settled with Eddie Sitt,” Stephen Meister, the attorney who represented Ralph and David, told The Real Deal. “At the end of the day,爱上海同城手机版 新爱上海同城对对碰论坛 they are brothers, and we’re happy that the c上海贵族宝贝交流区 上海贵族宝贝论坛ase was amicably settled.”

Jack filed the first lawsuit in November 2014, alleging that Ralph froze him out of Sitt Asset Management, and used funds from the family company to finance his own firm, Status Capital. Eddie filed a similar suit in February 2015 with the additional allegation that Ralph had forged documents which allowed him to effectively take control of 2 Herald Square. Acc[……]

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Detroit is looking for buyers and developers as it prepares to sell 24 vacant schools

Detroit is looking for buyers and developers as it prepares to sell上海贵族宝贝交流区 上海贵族宝贝论坛 24 vacant schools

The Detroit Public Schools Community District has listed 24 vacant prope爱上海同城 爱上海rties for sale and is looking for developers to submit proposals for the p新上海贵族宝贝论坛 上海贵族宝贝交流区roperties. Ranging from .4-acres to 7.4-acres, the parcels feature the buildings were constructed between 1896 and 1969. The 321,00-square-foot former Cooley High School building, which is listed on the Nati爱上海 爱上海同城手机版onal Register of Historic Places, sits on the l阿拉爱上海同城 爱上海龙凤419桑拿argest plot. The properties are listed on the school district’s real estate website. [Curbed]

Tags: National
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Facebook Housing Discrimination

Here s what Zuckerberg had to say about alleged housing ad discrimination Facebook founder suggests AI can solve the issue

Mark Zuckerberg (Credit: Getty Images)

Faceboo阿拉爱上海同城 爱上海龙凤419桑拿k’s CEO Mark Zuckerberg was grilled over alleged housing ad discrimination on the company’s social network during his Senate testimony Tuesday, and suggested the problem上海龙凤论坛 新上海贵族宝贝论坛 could be solved through artificial intelligence.

“We’ve removed the ability to exclude ethnic groups and other se新爱上海同城对对碰论坛 上海同城对对碰交友社区nsitive categories from ad targeting,” he said, according to Inman. “That just isn’t a feature that’s even available anymore.”

Zuckerberg acknowledged the system isn’t foolproof. 上海千花网 爱上海同城对对碰“We’ll make some mistakes, but we try to make as few as possible,” he said. “Over time, the strategy would be to develop more AI tools that can more proac上海千花网龙凤论坛 上海千花社区tively identify that kind of content and do that filtering up front.”

The National Fair Housing Alliance and other groups recently filed a lawsuit against Facebook, alleging that the company allows housing advertisers to discriminate against women and families with children.

Zuckerberg seemed open to Senator Cory Booker’s suggestion to allow civil rights groups to help police housing advertisers on the social network. “Senator, I think that’s a very good idea, and I think we should follow up on the details of that,” he said. [Inman] Konrad Putzier

Tags: facebook, housing discrimination, Politics, Tech
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Most Expensive Cities US

Homebuyers are seeing glut of inventory in more expensive areas Strong demand is leading more people in prime areas to try selling their homes

Counterclockwise from top: San Jose, Seattle, Boston, and New York (Credit: iStock)

Home inventory is going up in some of the most in-demand areas in the country.

A Realt上海千花网龙凤论坛 上海千花社区阿爱上海同城 阿拉爱上海同城or.com report found that listings in the California area of San Jose-Sunnyvale-Santa Clara rose 上海夜网 阿爱上海同城by 44 percent year-over-year, the country’s largest increase, according to Ma爱上海同城手机版 新爱上海同城对对碰论坛nsion Global. In Seattle and its suburbs, there were 29 percent more homes on the market this July than last July.

Other cities that saw large inventory increases were San Diego—18 percent—Dallas—15 percent—Boston—5 percent. New York saw a 2 percent increase, while Los Angeles and Miami both a上海贵族宝贝论坛 上海贵族宝贝ctually saw slight decreases of 1 percent each.

The median listing price was at a record high in July of $299,000, a 9 percent increase year-over-year, and homes in the country took an average of 59 days to sell—five days faster than the year before.

Housing inventory overall still dropped by 4 percent year-over-year, but inventory for houses more than $350,000 rose by 5.7 percent. [Mansion Global]  – Eddie Small

Tags: Home Prices, Housing Market, Residential Real Estate
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7 Hanover Square

GFP and Northwind have big plans and a tenant to match for FiDi office tower NYC Health + Hospital will anchor property that the Gurals are repositioning

From left: 100 Pearl Street, GFP CEO Brian Steinwurtzel, and Mitchell Katz (Credit: GFP and NYC Health and Hospitals)

When the Gural family and Northwind Group signed a contract to buy the headquarters of Guardian Life Insurance in the Financial District a little more than a year ago, they knew they had their work cut out for them.

The 1980s-era building at 7 Hanover Square needed to be brought into the modern age, and it was looking at some 900,000 square feet of vacancy later this year.

Now, before the ink on the $300 million purchase is dry, GFP Real Estate has a plan to put $250 million into modernizing the Downtown tower and a 500,000-square-foot tenant to get it started.

NYC Health + Hospitals, the nonprofit corporation that operates the city’s public hospitals and health care facilities, signed a lease for nearly 527,000 square feet at the property, the health administrator told The Real Deal.

The massive organization will relocate some 2,600 administrative staff members spread out at six different offices in Manhattan, Brooklyn and Queens and consolidate those offices into the base portion of the building, which GFP is rebranding as 50 Water Street.

“This lease brings our central office and health plan staff together,” Mitchell Katz, MD, NYC Health + Hospitals’ president and CEO, told TRD. “It strengthens the work environm[……]

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