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 […]
Here’s what $1M worth of prime real estate looks like in the world’s top cities: Knight Frank
In Hong Kong, it buys you a guest bath, but in New York … March 03, 2016 12:32PM By Hiten Samtani What does $1M get you in prime real estate across the globe? (Click to see full-size image) What does $1 million get you in luxury real estate? New Yorkers know that the answer, at […]
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 […]
Bluelight Special: Price cuts, broker incentives increase – Victor Jung
20% of Manhattan listings saw prices slashed between Sept.-Dec. 2015 January 15, 2016 03:05PM – The Real Deal excerpt From left: 110 Central Park South, 252 East 57th Street and 15 West 20th Street Forget bidding wars and packed open houses. These days, bargain hunters have the upper hand as overpriced Manhattan properties experience rampant […]
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 […]
In 2015, Shattering Records in New York City Real Estate – Update Victor Jung
In 2015, Shattering Records in New York City Real Estate By VIVIAN MARINO DEC. 24, 2015 From New York Times In the realm of New York City real estate, what goes up just keeps going up, and up. This past year prices again punctured records, with the official closing of a $100.47 million penthouse at […]
Clocktower penthouse still on market for $18M – Update Victor Jung
The massive triplex is still for sale after first being put on the market for $25 million in 2010 From left: the Clocktower Building at 1 Main Street in Brooklyn and Anne Hathaway One of the city’s priciest — and most luxurious — apartments has been languishing on the market. Following various price drops and broker swaps, […]
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. […]