From left: Nicholas Mastroianni, Scott Alper, Connor Chen, Charles Gargano, Former New York Gov. George Pataki, Phoebe Yuan, Jianlen and Hiten Samtani The legislative fate of EB-5 may still be up in the air, but champions of the controversial visa program are not worried — they say they have a powerful friend on their side. […]
Cuomo approves $300M for NYC affordable housing projects – Victor Jung
Gov. Andrew Cuomo signed off on granting the city another $300 million in bonding authority on Friday, providing a considerable bump in funds needed to construct affordable housing. With this latest allowance, the state has granted the city $771 million in tax exempt bond capacity this year — an amount Cuomo’s office touted as the highest […]
SVHO and Bizzi Partners at 125 Greenwich Street to house 275 Units – Victor Jung
Michael Shvo and a rendering of 125 Greenwich Street (Credit: ArX Solutions) Michael Shvo, Howard Lorber’s New Valley and Bizzi & Partners’ soaring condominium at 125 Greenwich Street will house 275 units – nearly 150 more than early renderings for the Financial District tower indicated. The Rafael Vinoly-designed tower will rise 91 stories with 275 […]
Delshah Raises over $102MM from two bond issuances in Tel Aviv
NEW YORK, Jan. 13, 2016 /PRNewswire-iReach/ — Delshah Capital Limited, a full-service commercial real estate investment and property management company, today announced the successful public tender of over $102 million of corporate bonds (400 mm NiS), which will be traded on the Tel-Aviv Stock Exchange. The offering was oversubscribed by more than 50% and included […]
2015 Year End Summary of NYC’s Residential Real Estate Market by Victor Jung
“Price is what you pay. Value is what you get.” Warren Buffet’s wise words handily sum up a dominant theme in New York’s residential market these days — which is to say, despite all the talk of glitzy new condos and penthouses with astronomical prices, developers, buyers and brokers are increasingly chasing value. The phenomenon […]
Bronx Getting Hotter With Recent Related Cos Transaction – Victor Jung
Related Cos., in partnership with New York City pension funds, is ramping up its multifamily moves, with the $112.5 million purchase of a 20-building Bronx portfolio – the largest package to change hands in the borough this year, sources told The Real Deal. The portfolio contains 737 apartments spread throughout the North, West and South Bronx. […]
The Year of the Chinese Investor
Inside the growing wave of investors buying and building in the five boroughs March 01, 2015 By E.B. Solomont For more than two decades, China’s most populated city, Shanghai, has experienced a building frenzy unlike any other: Developers have built office buildings in the city of 24 million as far as the eye can see, […]
Anatomy of a deal: Inside Related/Oxford’s unusual financing of Hudson Yards
By Hiten Samtani For better or for worse, every big-name New York City developer is defined by their most recent marquee project. Bruce Ratner’s Forest City Ratner propelled Brooklyn into a new phase with Atlantic Yards; Gary Barnett’s Extell Development is redesigning the white glove with One57, and Harry Macklowe is trying to erase the past […]
Greenwich, Conn. sees influx of Chinese buyers
549 North Street in Greenwich, Conn. listed for $9.5 million. The home is an example of a home that brokers hope will appeal to Asian buyers. It’s not just Manhattan and waterfront Brooklyn that are attracting China’s real estate-crazed nouveau riche. Greenwich, Conn. is currently seeing an influx of Chinese buyers, spurring local brokerages to […]
The Education of the Luxury Buyer
Excerpt from Wall Street Journal Seasoned buyers and first-time buyers agree both cited views and chef kitchens as the most important luxury-home features, according to a survey. Getty Images Follow the habits of today’s high-end real estate market. The first thing that comes to mind is the education of the luxury buyer. Seasoned home buyers—people who […]