NYC Retail Space

Scorecard: Retail tenants spooked by high rents A monthly round up of data and reports on the commercial mar上海夜网 阿爱上海同城ket

From the May issue: Retail leasing picked up last month in prime parts of Manhattan but still remains below the monthly average for the last year.

Over the past 30 days, retailers signed leases for 232,190 square feet at 83 locations below 65th Street in Manhattan. While that’s up from earlier this year新爱上海同城对对碰论坛 上海同城对对碰交友社区, it’s still under the 280,000-square-foot average of the last 12 months.

Spooked by high prices in popular neighborhoods, retailers have pulled back, insiders said. “Any place that is super expensive is a little bit slow now,” said Chase Welles, a broker for SCG Retail.

But that doesn’t 爱上海同城 爱上海mean activity is at a standstill. Some tenants have signed significant leases. Nordstrom inked a 43,000-square-foot deal at 3 Columbus Circle.

While the data has not quite caught up, brokers said it’s taking longer to land tenants in p爱上海同城对对碰 爱上海同城论坛art because some think rents will start falling. And some tenants are moving to cheaper locations. “Soho will always be Soho, but there needs to be a correction,” said Newmark Grubb Knight Frank’s Thomas Citron, adding that some retailers are looking to the Flatiron District as an alternative.

But the Flatiron has seen rising rents and a drop-off in deals, too. “We saw enormou新上海贵族宝贝论坛 上海贵族宝贝交流区s activity last summer — the most I’ve ever seen,” said ABS Partners Real Estate’s Mark Tergesen. “I don’t think demand has necessarily dropped b[……]

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New Development NYC

Developers find sweet relief in $1M to $3M new development condo market Prices are dropping in Manhattan and rising in Brooklyn

The Pierhouse at 90 Furman Street at Brooklyn Bridge Park and Oosten at 429 Kent Avenue in Williamsburg

Buyers in the third quarter were hungry for new development condominiums priced between $1 million and $3 million, and developers were there to meet them with an influx of new supply.

In Manhattan, 54.7 percent of all contracts signed during the third quarter fell into that middle-market range, up from 51.4 percent at the halfway point of the year, according to Halstead Property Development Marketing’s quarterly new development report.

That shift is impacting median pricing, which fell 15.7 percent in Manhattan t爱上海同城手机版 新爱上海同城对对碰论坛o $2.15 million in the third quarter.

Click to enlarge

“There’s a lot of talk about pricing coming down, but what they’re really talking about is pricing shifting with the availability of product,” HPDM Stephen Kliegerman told The Real Deal. “There’s a shift in direction to more modest-sized one-, two- and three-bedroom apartments. That unit type has brought the median price down.”

The shift was even greater in Brooklyn, where the share of $1 million-to-$3 million condos grew nearly 17 percent to 69.2 percent in the third quart上海千花网龙凤论坛 上海千花社区er, the report shows.

But Kliegerman said that whereas developers in Manhattan were moving toward smaller, more moderately-priced apartments, Brooklyn is trending upward toward luxury.

Projects like Xinyuan[……]

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Paul Massey Mayor

Massey rallies young industry pros ahead of filing deadline NGKF’s Billy Cohen is bundling for CushWake broker

Paul Massey

Paul Massey’s mayoral campaign made a last-minute fundraising pitch to the real estate industry’s young professionals Tuesday ahead of a crucial filing deadline.

“In order to be considered a serious candidate, he has to show a pretty substantial amount of money in his coffer, and we’re not there,” Newmark Grubb Knight Frank broker and campaign bundler Billy Cohen said to the members of the Young Men s and Women s Real Estate Association on Tuesday, urging them to donate ahead of the 5 p.m. disclosure deadline on Wednesday.

Massey has said he aims to raise a couple of million dollars ahead of the Jan. 17 filing deadline, which covers July 16, 2016 through Jan. 11, 2017.

Massey s campaign stumbled out of the gates when it failed to file required paperwork in August, but it上海贵族宝贝 上海千花网龙凤论坛 scored a big victory last week when the Independence Party of New York endorsed him. The endorsement ensures his name will be on the ballot in November.

The mayoral hopeful spoke for about 30 minutes to the crowd, taking shots at Mayor Bill de Blasio and outlining some of his priorities as he ramps up his campaign.

Massey, a Republican, said he recently met with the mayor of Jerusalem, Israel, and plans to travel to the city and others to understand how to better manage the Big Apple.

“I’m going to 10 cities that are well-run – and have high may上海贵族宝贝 上海千花网龙凤论坛oral approval ratings – to see what’[……]

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Adelphi Hotel Saratoga Springs

Adelph爱上海同城手机版 新爱上海同城对对碰论坛i Hotel

The 140-year-old Adelphi Hotel will open for the summer’s horse season in Saratoga Springs after a $34 million restoration.

The last surviving hotel of Saratoga Springs’ “golden age,” the Adelphi had been unable to host its elite regulars for nearly three-and-a-half years.

“The property was filled with family jewels,” Toby Mildé, whose Richbell Capital bought the hotel for $4.5上海贵族宝贝 上海千花网龙凤论坛 million in 2012, told the New York Post.

Mildé’s restored inn boasts at least one piece of original furniture, such as an armoire, chair, couch or mirror, in every renovated room. [NYP] Christopher Cameron

Tags: Hote阿爱上海同城 阿拉爱上海同城l Market, renovatio阿拉爱上海同城 爱上海龙凤419桑拿ns
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NYC Hotel Special Permits

New union-supported hotel ban could drive tourists to Airbnb: REBNY Industry group says city needs to consider broader impact of special permits in manufacturing zones

John Banks, Peter Ward and proposed hotel special permit areas of applicability (Credit: City Planning via New York YIMBY, Click to enlarge)

The influential hotel workers union that’s battled with Airbnb could actually be driving more tourists into the arms of the enemy with an effort to effectively ban new hotel development in large swaths of th上海夜网 阿爱上海同城e city, the Real Estate Board of New York argues.

The New York Hotel Trades Council, led by powerful union boss Peter Ward, is one of the driving forces behind a city proposal to require special permits for new hotel development in city manufacturing zones.

But choking off new supply could end up increasing demand for home-sharing sites like Airbnb, REBNY argued in testimony submitted to the City Planning Commission on the proposal.

“[I]f the proposed action will significantly restrict the supply of hotel rooms, it is reasonable to expect that more tourists will seek accommodations outside of traditional providers,” the industry lobbying group wrote in its testimony. “As short-term rentals through companies like Airbnb become more prolific, along with the attendant negative consequences, the city h上海千花网龙凤论坛 上海千花社区as to take into account how its actions impact that market.”

Mayor Bill de Blasio, who coasted to a second term with his election victory Tuesday, first laid out his[……]

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Plans to redevelop Scarsdale commuter parking site include condo and rental options

Plans to redevelop Scarsdale commuter parking site include condo and 上海贵族宝贝 上海千花网龙凤论坛rental options

A committee of residents, local business people and village officials issued a report with several options for the redevelopment of the 2.5-acre Freightway parking facility in Scarsdale. One plan calls for building between 58 and 93 condo units on top of the existing five-story parking structure, while the second option adds the construction of a walkway上海千花网龙凤论坛 上海千花社区 over the train tracks. The third choice is to bui爱上海同城 爱上海ld between 91 and 145 ren上海千花网论坛 上海千花网tal apartments on top of three levels of parking. The village board will review the plans and would hire a developer if any are approved. [Lohud]

Tags: Westchester Fairfield
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New York Wheel

New York Wheel project might not be dead after all We’ll know in 120 days if the project is back on

A rendering of the New York Wheel

Fortuna s wheel has spun upwards in Staten Island.

The developers of the NY Wheel in St. George, who are currently mired in bankruptcy proceedings, may yet have a chance to make the 630-foot tall observation wheel a reality, the Staten Island Advance reported.上海千花网龙凤论坛 上海千花社区

NY Wheel and contractor Mammoet-Starneth have reached a deal that they will find a way forward to build the project or end it permanently within 120 days. A judge still needs to approve the agree爱上海同城论坛 爱上海同城ment.

New York Wheel is committed to the completion of the project, which is the centerpiece of a Staten Island redevelopment project, a spokesperson told the Advance in a statement. This settlement will allow New York Wheel the opportunity to finalize its financing arrangements and re-commence the construction and completion of the Wheel.

Locking down financing, 上海千花网龙凤论坛 上海千花社区however could prove difficult within the proposed time frame. It s not clear how much more money NY Wheel needs to keep the project alive, but project officials told the Advance last year that it had already spent $400 million of a projected $580 million allotmen上海贵族宝贝论坛 上海贵族宝贝t.

Contractor Mammoet-Starneth filed for bankruptcy in December, af爱上海同城 爱上海ter having previously walked off the job and then gotten fired by NY Wheel. In February, Rich Marin stepped down as CEO of NY Wheel. Its new management structure was not immed[……]

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Staten Island Mansions

One of Staten Island s most luxurious (and pricey) homes caught in divorce battle Robyn and Dean Billings’ $6.3M mansion is one of the properties at the heart of the splitting couple’s dispute上海贵族宝贝交流区 上海贵族宝贝论坛

(Credit: Max Pixel, Zillow)

A Todt Hill mansion in one of Staten Island s wealthiest neighborhoods is at the center of a divorce that could become the borough s most costly split.

The couple, Dean and Robyn Billing, are going through a contested breakup that is shaping up to be a nasty, contentious process, as Robyn Billing s lawyer told the New York Post, with both parties are disputing how assets should be divided.

Dean Billing is accused of being behind on bill payme爱上海同城论坛 爱上海同城nts and their children s tuition, according to his soon-to-be ex-wife. She claims he spends his money on frequent trips to Miami, other women and renting yachts.

Dean Billing’s attorney rebuffed the accusations telling the Post that “one of the most frustrating aspects of New York divorce law is how easy a disgruntled spouse can make false claims in preliminary litigation papers, for dramatic effect.”

Divorce is a common impetuous for selling off real estate and the Billings first listed their house at 125 Benedict Road for $6.3 million last year after Robyn filed f爱上海同城 爱上海or divorce. The listing was pulled as their legal battle dragged on. The couple bought the seven-story home in 2012. [NYP] Erin Hudson

Tags: mansions, Residential Rea上海夜网论坛 上海夜网l Estate, Staten Island
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