“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 […]
Investors Flocking to Student Housing
Excerpt By Jessica Fiur, News Editor, MHN Online New York—In downtown Brooklyn, a former seven-story multifamily building is being converted to a 44-unit student housing community. The property, 902-908 Bedford Avenue, houses undergraduates and graduate students and their families, most of whom attend the Pratt Institute and Long Island University. DelShah Capital LLC, a real […]
Sunrise Terrace Condos $9.35MM sellout lead by Victor Jung and Distinct New York
Relaunch of Flushing Condominium Excerpt from The Real Deal By David Jones, The Real Deal DelShah Capital, led by investor Michael Shah, has officially re-launched the Sunrise Terrace Condominiums in Flushing, Queens, after acquiring the unsold shares at the stalled complex at a foreclosure auction in July. Victor Jung from Distinct New York was enrolled […]