NFL nears goal line in Times Square lease: sources National Football League close to deal for 25K sf at Witkoff’s 20 Times Square

The National Football League is close to finalizing a deal to take about 25,000 square feet of retail space at the Witkoff Group-led development at 20 Times Square, several sources told The Real Deal.

The league is looking to lease a la上海千花网 爱上海同城对对碰rge chunk of the 76,000 square feet of retail space within the 270,000-square foot project, sources with knowledge of negotiations told TRD. 上海夜网 阿爱上海同城The development site, which broke ground in October with a ceremony including Mayor Bill de Blasio, has an address of 701 Seventh Avenue, at 47th Street.

The lease is good news for Times Square, where retailers have been wary of asking rents that rose by 140 percent from under $1,000 per foot in 2009 to more than $2,400 in 2014, according to figures from the Real Estate Board of New York.

In addition to high rents, some mid-tier national retailers are being battered by softer sales. One example is the Sports Authority, which announced this month that it would close all its remaining stores in the U.S. T新爱上海同城对对碰论坛 上海同城对对碰交友社区he retailer, which has locations in Midtown, the Bronx, Brooklyn and Queens, carries NFL products.

The high-profile Times Square project is being developed by the Witkoff Group, Howard Lorber s Vector Group, Ian Schrager, Winthrop Realty Trust, and Maefield Development. The 39-story project, set to be completed in 2017, includes a Marriott Edition hotel with 452 rooms and an 18,000 square foot LED sign.

Steve Witkoff, CEO of the Witkoff Group, declined to comment, saying only that there is no signed lease. A spokesperson for the NFL declined to comment.

A CBRE team of Andrew Goldberg and Matt Chmielecki is representing the landlord. They did not immediately respo新上海贵族宝贝论坛 上海贵族宝贝交流区nd to a request for comment.

The league has opened pop-up stores for the Super Bowl and there are NFL shops within other chains, but does not have any permanent locat爱上海龙凤419桑拿 上海龙凤论坛sh1fions.

In 2012, the NFL opened its first New York City pop-up shop, at 1095 Sixth Avenue, and in early 2014, the league opened a temporary 36,000-square-foot selling space within Macy’s in Herald Square, tied to the Super Bowl held at the Meadowlands that year.

The NFL raked in an estimated $12 billion last year, up about 14 percent from 2014.

Tags: 20 times square, nfl, Steve Witkoff
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61 West 23rd Street

Zegna, Taconic buy Flatiron District building for $65M Long Island-based family firm owned 61 West 23rd Street for more than 50 years

From left: Arthur Draznin, Jeremy Nazarian, Vickram Jambu and 61 West 23rd Street

UPDATED, July 1, 3:41 p.m.: Is 23rd Street going couture?

The Italian family that’s owned the luxury suiting company Ermenegildo Zegna for four generations and Taconic Investment上海千花网龙凤论坛 上海千花社区 Partners picked up an office bui上海夜网论坛 上海夜网lding in the Flatiron District for $65 million.

The Zegna family closed in June on 61 West 23rd Street, a seven-story cast iron building spanning just over 50,000 square feet, sources told The Real Deal.

The sellers were the Long Island-based Drachman family and extended family members, who owned the building for more than上海夜网论坛 上海夜网 50 years.  Newmark Grubb Knight Frank s Arthur Draznin and Hunter Berman, who handled le上海夜网 阿爱上海同城asing at the building, represented the sellers in the off-market transaction. Jeremy Nazarian and Vickram Jambu of Venture Capital Properties represented the buyers.

The brokers declined to comment.

The automated “robo-advisor” investing firm Betterment is the building’s largest tenant.

The LLC the Zegna family used to purchase the property can be traced back to 771 Washington St上海夜网 阿爱上海同城reet in the Meatpacking District, which the family sold to Harry Jeremias’ Harch Group in early 2015 for $70 million.

Tags: flatiron district, Newmark Grubb Knight Frank
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When it comes to housing, time is money

When it comes to housing, time is money A look at the爱上海龙凤419桑拿 上海龙凤论坛sh1f cost-per-minute of your commute in terms of housing

New Yorkers have some of the longest commute times in the nation. And since time is money, here is look at what your commute is actually worth in terms of housing costs.

Using Miller Samuel data, The New York Times divided the dollar amount of a median-price home near each station along Metro-North Railroad’s New Haven line by the time it takes to get to Grand Central 爱上海同城对对碰 爱上海同城论坛Station. The result is a cost-per-minute figure.

The study found that homes with longer commutes to the city cost less and averaged $11,爱上海同城 爱上海836 a minute to Grand Central Station.

In Darien, Conn., a median-price home costs $22,881 per minute spent on the train, while traveli上海夜网论坛 上海夜网ng just 15 minutes farther to Westport reduced the cost to $17,493. Another 11 minutes to Fairfield and homebuyers pay $15,705 less per minute than those in Darien.

Farther st上海夜网 阿爱上海同城ill and prices really drop. After the 90-minute mark, in places like Stratford, Milford and West Haven, the cost-per-minute falls to a few thousand.

Obviously commuters are willing to spend money to save time. [NYT] –Christopher Cameron

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Office Terraces NYC

The DOB performe上海贵族宝贝 上海千花网龙凤论坛d an about-face after meeting with Department of City Planning officials, who advised its sister agency that the use of office building terraces “as open passive recreation space” is allowed, according to the New York Post. Following the meeting, the DOB sent landlords a memo statin上海千花社区 上海千花网交友g that terraces are okay.

Landlords had also pushed back, arguing that the DOB is misinter上海贵族宝贝 上海千花网龙凤论坛preting a 1961 zoning provision that “all uses must be contain上海贵族宝贝 上海千花网龙凤论坛ed within enclosed buildings.” The measure, according to landlords, was intended to stop building owners from using the roof spaces for flea mark爱上海 爱上海同城手机版ets at the time.

“We are glad to clear this up and make sure we have common-sense rules that reflect the real world of what tenants want and need,” Melissa Grace, a spokesperson for Mayor de Blasio, said. [NYP] Christopher Cameron

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120 Fifth Avenue

Developer of controversial Park Slope luxury project agrees to concessions Avery Hall Investments will build a larger supermarket on site of former Key Food

From left: Avi Fisher, Brian Ezra and a rendering of 120 5th Avenue in Brooklyn

The developers behind the project meant to replace Park Slope’s 5th Avenue Key Food have filed preli爱上海同城 爱上海minary plans for their project with the city after agreeing to multiple conce爱上海同城论坛 爱上海同城ssions from the community.

Avery Hall Investments plans to construct two buildings on the site, and the developer has agreed to issue an RFP for a supermarket that is community oriented, offers foods at a range of prices, and sells ethnic products such as Goya foods, according to DNAinfo.

Local community groups said they wanted to make sure the supermarket replacing the Key Foo上海夜网 阿爱上海同城d will be affordable to residents of the neighborhood who had come to increasingly rely on it, especially with the closure of other grocery stores.

The supermarket上海同城对对碰交友社区 上海夜网论坛 will be 22,上海贵族宝贝论坛 上海贵族宝贝000 square feet and have a 20-year lease. The residential portion of the project will consist of 164 apartments spread across two buildings at 120 5th Avenue and 680 Baltic Street, of which 41 will be for very low, low and middle income tenants.

Avery Hall Investments closed on the Park Slope site in March for $45.6 million. The company also purchased an office building at One Boerum Place in December for $76.5 million. [DNAinfo] – Eddie Small

Tags: affordable housing, concessions, Development
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Loss Factor Real Estate

Lies in size: Commercial landlords get boost from increasing ‘loss factor’ and charging for unusable common spaces

The Chetrit Group sold 123 William Street to East End Capital and GreenOak Real Estate for $133 million in October. In January, the new owners signed the Institute for Career Development, a workforce training company, to a 26,558-square-foot lease for the 27-story office building’s entire fifth floor, CompStak’s database shows. Asking rent for the space was $37 per square foot.

But the very same space had earlier been listed on the website Office Space for Rent at 23,610 square feet. Sources said the nearly 3,000-square-foot difference, or potential for roughly $110,000 in extra income, can be explained by a phenomenon known as “loss factor,” which allows landlords to charge for space that is shared by all tenants, or space that is dedicated to the building’s common areas, such as the lobby, hallways, elevators and stairwells.

Loss factor is defined as the percentage difference between rentable area — the number of square feet that office tenants pay for — and usable area. A building with a rentable area of 400,000 square feet and a usable area of 300,000 square feet, for example, has a loss factor of 25 percent. It’s a quirk that landlords can use to their advantage, allowing them to pass a large part of their costs for the building’s common areas on to tenants.

“The rents in the market are a function of loss factor and rental rate,” said SL Green Realty CEO Marc Holliday during a 2012 earnings call. Holliday was explaining to analysts how, despite a drop in Viacom’s rent-per-square-foot at 1515 Broadway, the media company would pay about 2 percent more in total rent, as SL Green had applied a more aggressive loss factor to the space. Viacom would now be paying for 1.39 million rentable square feet rather than 1.27 million rentable square feet. (Viacom’s expansion to 1.6 million square feet was not reflected in th上海千花网龙凤论坛 上海千花社区e numbers because, while the company had committed to the additional space, it had not yet occupied it.)

Industry sources said a high loss factor is just a reality of the New York market.

Loss factor “serves a purpose for the landlord, and the tenant needs to understand that,” said Marisa Manley, founder of Commercial Tenant Real Estate Representation, a tenant advisory firm. “Is it an accurate representation of the physical space? Absolutely not.”

A building’s rentable square footage typically jumps after it is remeasured, said Keith Keppler, a principal at tenant representation firm Cresa New York. That generally happens after an acquisition, a major capital investment or when an owner is mulling a sale of the property, Keppler said, as that’s when landlords push to extract maximum value out of their properties.

“It’s going to continue to be a trend, because it’s part of where the long-term investment [in a building] gets recaptured,” Keppler said.

Fo上海同城对对碰交友社区 上海夜网论坛llowing an equity investment by the Durst Organization in[……]

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Mauricio Umansky

Brokers behaving badly? A rash of lawsuits puts a spotlight on what happens when agents are accused of gaming the system

A vast Malibu estate that sold last year for $70 million is at the center of a legal battle between an insurance firm and The Agency.

When Mauricio Umansky, co-founder of The Agency, was tapped to sell a Malibu estate on Sweetwater Mesa Road, he was taking on a property that had already seen its share of drama, having been seized by the U.S. government. But Umansky was up to the task.

The star broker, who oversees more than 350 agents, has brokered many multimillion-dollar deals in his career, including the $100 million record-breaking sale of the Playboy Mansion in 2016.

When he chose a buyer for the 15,000-square-foot Malibu mansion in December 2015, seven months after listing the property, everything appeared to be running as planned. Mauricio Oberfeld, a Los Angeles-based developer, was queued up to purchase the home for $33.5 million

But there was something different about this deal.

Umansky himself also invested in the property, though the amount he contributed toward the purchase was not made public. The two上海千花网龙凤论坛 上海千花社区 Mauricios then flipped the home for nearly $70 million in April 2017, and allegations of impropriety followed shortly thereafter.

“Anytime you have a market where [land values] are up really quickly, and somebody buys a property, renovates it and sells it for a big number, it makes the agent an easy target,” said Michael Nourmand, president of Nourmand Associates.

The property is now the subject of a bombshell lawsuit brought forth by Umansky’s own insurance company, which is seeking relief from having to pay any damages to the seller. Umansky declined to comment for this story, but he recently responded to the complaint with a countersuit of his own.

“The entire transaction was subject to the terms of a settlement agreement between the U.S. and the seller, and every aspect of the transaction was reviewed and approved by the U.S. Department of Justice,” Umansky’s countersuit states.

Insiders say agents and their brokers are increasingly getting sued for “home flopping,” a practice in which an agent sells an asset for less than market price — often to an unofficial business partner — while collecting both sides of a commission. They then resell the property for more money. The profit is typically split among the parties, including, of course, that broker.

Those suits often fall under the umbrella of improper dual agency — instances in which a seller’s agent conspires with the buyer. Dual agency suits are hitting a number of prominent brokers.

The recent uptick is due in some part to market conditions, brokers said. Homes are still selling at astronomical prices, which tempts brokers to get involved as investors, thus creating more opportunity for “flops.”

At the same time, bad dual agency deals may be increasing since it’s taking longer for luxury homes to sell. “There’s more pressure put on a salesperson to perform,”[……]

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Selling Celebrity Homes

‘Marilyn Monroe slept here’ The whys and hows of leveraging a celebrity connection — however tenuous it might be — when marketing luxury listings

Marilyn Monroe and Joe DiMaggio’s former home at 2393 Castilian Drive is currently listed for $2.7 million. (2393 Castillian Drive photo by David Huynh)

Like most homes in the Outpost Estates, the one at 2393 Castilian Drive has some elegant flourishes that could seduce even the most discerning buyers. The walled and gated four-bedroom house boasts architecture that conjures images of the Amalfi Coast, with a large terrace, a romantic tower room and a grotto-like pool that overlooks Runyon Canyon.

But you won’t find its most distinctive feature listed anywhere in the blueprints: the home’s reported one-time occupants, Marilyn Monroe and Joe DiMaggio, who rented there during their whirlwind marriage in 1954.

“They weren’t married long — it’s probably the only house they ever shared,” said Neal Baddin, the Coldwell Banker agent who currently has the Hollywood Hills listing, which carries an asking price of $2.7 million.

It’s an amazing backstory for a property — the former love nest of one of the greatest ballplayers of all time and the ultimate Hollywood icon. And it’s one that Baddin said that creative types and entertainers feel “very, very drawn” to.

But does that attraction ultimately matter? Do celebrity connections — and particularly those of the “so-and-so lived here briefly” or “Hollywood legend X used to party here” variety — help move a home, especially when the asking price is already in the millions?

A 2016 Redfin study of 60 celebrity-owned homes for sale showed that the houses typically sold for less than their asking price and sat on the market for an average of 36 days longer than market average.

But Leonard Rabinowitz, the director of Hilton Hyland’s estates division, said that has not been his experience: A connection to fame raises interest in — and ultimately the value of — a property. With his partner Jack Friedkin, Rabinowitz recently closed a nearly $8 million sale for a Malibu home that belonged to Steve Lawrence and the late Eydie Gormé, the husband-and-wife singing duo known as Steve and Eydie. The home served as an occasional hangout for the Rat Pack. Coincidentally, Rabinowitz and Friedkin also currently have the listing for Frank Sinatra’s former seven-bedroom, 5,800-square-foot beach house in Malibu, which carries an asking price of $12.9 million. Rabinowitz said its celeb pedigree is generating leads that a similar property might not have.

Brokers said these homes are attractive to prospective buyers because they tap into the city’s greatest export: star power. “A house like Steve’s or Frank’s, if it’s standing, it adds value,” Rabinowitz said. “Even sophisticated buyers get really turned on … People love the house because of that.”

But sometimes, those connections don’t run nearly as deep as “Frank Sinatra owned this house.” And that’s where many agents have learned to weave a sto[……]

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” ark: Live developmental ” development business is made newly ” Atlas ” jump Chinese of support of Steam of ticket a week and mandarin dub

” ark: Live developmental ” development business makes newly ” Atlas ” jump Chinese of support of Steam of ticket a week and mandarin dub time: 2018-12-12 13:14:54 origin: 3DM compiles an author: Skylark edits: Fabaceous horn
” ark: Live developmental ” Wildcard announced development business on the TGA this year their make newly ” Atlas ” , this is theme of pirate of an open world seeks to live on the net swims. Make originally according to original plan on this month 13 days land Steam to experience first, did not cross Wildcard to make time adjust, show instead to will land Steam to experience first on December 19. ” Atlas ” it is a the first person large game of adventure of pirate of much person strange unreal, by industry senior personage Jeremy Stieglitz and Jesse Rapczak take a team to make personally. ” Atlas ” accommodate implementation at the same time at most exploration of 40 thousand players is same a world, this will cause the experience between unprecedented player and alliance! Be in ” Atlas ” in, you can build custom-built ship, search the treasure of lose, besiege and conquer fastness, the businessman that foray travels, and the inapproachable naval force that recruit sailor joins you, oneself sea god nation is built in endless open world. ” Atlas ” had gone up a few days ago a Steam, support simplified Chinese and mandarin dub, area value of short duration did not announce the country. Steam store page: Https://[……]

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