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Martin Zweig House

Pierre Hotel penthouse price slashed to $57M The 16-room triplex, once asking $125M, has been on and off the market for years

It’s like an auction in reverse — prices for the triplex penthouse at the Pierre Hotel keep getting lower an爱上海龙凤419桑拿 上海龙凤论坛sh1fd lower. This time, the co-op is back on the market for $57 million, down from the astronomical asking price of $125 million.

In 2013, Barbara Zweig, widow of financier Martin Zweig, put the 16-room co-op at 795 Fifth Avenue on the market for the $125 mil上海龙凤论坛 新上海贵族宝贝论坛lion — at the time the most expensive apartment listing in the city’s history.

By December the same year, the price was cut down to $95 million. Two years later, in January 2015, the pad, which includes a library, four terraces, sauna, private elevator and a 23-foot ceilings, was chopped by near上海千花网论坛 上海千花网ly 50 percent to $63 million.

After the penthouse failed to sell at $63 million, Zweig took it off 爱上海同城手机版 新爱上海同城对对碰论坛the market, removed her furniture and hired a home staging company Interior Marketing Group to give the pad a “a more contemporary living style,” Brown Harris Stevens’ Mary Rutherfurd, who is listing it with her daughter and Leslie Coleman, told the Wall Street Journal.

The revamp included replacing the wallpaper in the master bedroom, taking away the carpeting from the black marble staircase and exchanging the mirrored walls in the foyer for wallpaper, the Journal reported.

The apartment, which was once the Pierre’s ballroom, on the 41st through 43rd floors has 360-degrees views[……]

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HAP Investments

HAP files plans for seco爱上海同城 爱上海nd building in Chelsea resi project The 20-story property 阿拉爱上海同城 爱上海龙凤419桑拿is slated to have 91K square feet
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Brazil Real Estate

Love distressed assets? Head to Brazil in 2017 Prices across the nation continue to fall

Rio De Janeiro

Bra爱上海同城对对碰 爱上海同城论坛zilian property values continue to plummet, meaning this year is the year to buy.

Both commercial and residential real estate prices in Brazil ended 2016 5.5 percent lower than they did in 2015.

The Brazilian housing market is coming out of a decades-long bubble that still continues to deflate, according to data from the Brazilian Institute for Geography and Statistics cited by Fobers.

A爱上海同城对对碰 爱上海同城论坛nalysts say the correction is due to爱上海同城手机版 新爱上海同城对对碰论坛 a weak economy and high interest rates. But Brazilian developers are also having a hard go of it, waiting to see if the government (which is i阿爱上海同城 阿拉爱上海同城n the process of cutting back) will provide subsidized loans for low-income housing.

Average prices for residential real estate in Brazil grew 0.13 percent in December compared to November.

Prices for residential real estate fell by at least half a percent in cities like Rio de Janeiro on a month-to-month basis. T爱上海同城论坛 爱上海同城wenty other cities saw price declines.

Prices in Rio de Janeiro fell over 2 percent over the last 12 months. [Forbes] Christopher Cameron

Tags: distressed assets
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Andrick Management

The site of the East Village explosion at 121 Second Avenue

Manhattan management company Andrick Management LLC was “careles上海贵族宝贝交流区 上海贵族宝贝论坛s and 阿爱上海同城 阿拉爱上海同城reckless” in its work, so the lan上海贵族宝贝论坛 上海贵族宝贝dlord of the buildings that were destroyed in the deadly 2015 East Village gas explosion claims in Manhattan Supreme Court papers cited by the New York Post.

Andrick was hired to install gas meters in the basement of one of the three buildings owned by Maria Hrynenko. Hrynenko who is facing charges of manslaughter, criminally negligent homicide, assault and reckless endangerment says that it was actually Andrick that failed to warn people of the hazardous conditions.

However, auth上海千花社区 上海千花网交友orities have cited Hrynenko use of an illegal cost-cutting gas delivery system as the cause o上海龙凤论坛 新上海贵族宝贝论坛f the blast, according to the Post. [NYP] Christopher Cameron

 

Tags: Real Estate Lawsuits
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Commercial Rent Tax NYC

City Council vs. de Blas上海千花网龙凤论坛 上海千花社区io: Mayor isn t a fan of reformed commercial rent tax Council has enough sponsors to override the mayor’s vet新爱上海同城对对碰论坛 上海同城对对碰交友社区o

Dan Garodnick, Bill de Blasio and a vacant NYC storefront

A proposal to declaw Manhattan s commercial rent tax has pitted Mayor Bill de Blasio against his own party.

A City Council bill that seeks to change how a tax on busines爱上海龙凤419桑拿 上海龙凤论坛sh1fses in Manhattan is applied now has 41 sponsors, meaning that the legislative body could override a mayoral veto, the Wall Street Journal reported. The mayor has said that he s concerned about los上海千花社区 上海千花网交友ing annual revenue from the tax, which the council estimates to be $55 million.

“[G]iven the uncertainty about the federal budget, health care and tax reform, we don’t feel it’s the right time to take major action on the commercial rent tax,” Freddi Goldstein, a mayoral spokesperson, told the Journal in an email.

The 3.9 percent tax applies to businesses below 96th Street who pay $250,000 or more in annual rent. The bill seeks to increase that threshold to $500,000. The city hasn t changed the rent range since 2001.

Council member Dan Garodnick proposed the bill in 2015, but the legislation has gained traction as retail in the city struggles. This would be the first mayoral override by the council under de Blasio, s爱上海同城 爱上海hould it come to that.

“Manhattan retail is in crisis,” Garodnick said. “We cannot wait any longer.” [WSJ] — Kathryn Brenzel 

Tags: bill de blasio, Dan Garodnick, Politics
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Varagon Capital

We 上海贵族宝贝论坛 上海贵族宝贝are having some technical d爱上海同城论坛 爱上海同城if上海龙凤论坛 新上海贵族宝贝论坛ficulties. Try again later.

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Real Estate Holiday

Photobooth: New York real estate cel爱上海同城 爱上海ebrates the holida爱上海龙凤419桑拿 上海龙凤论坛sh1fy season The Real Deal was there to document it all

Though some firms decided to forgo seasonal celebrations this year, many real estate players still managed to successfully eat, drink and schmooze their way through another holiday season.

There was typical chatter over the market though, with an ounce more doom and gloom than years past. The mood is a little more subdued this year, Investors Bank s Joseph Orefice told The Real Deal during Madison Realty Capital s holiday party at the Top of the Standard. “You can see it on people’s faces – it’s a totally different vibe,” HPNY president Ivan Hakimian said at Rosewood Realt上海千花网交友 上海千花网论坛y s annual bash at The Gansevoort Park Avenue.

Of course, bleak predictions o阿拉爱上海同城 爱上海龙凤419桑拿f the market didn t dissuade New York s real estate community from sampling sushi, nibbling Fruit Loop cupcakes and sipping on signature cocktails.

And, as always, TRD was there to document it all. For a look at all the action, check out the slideshow above. Be sure to爱上海同城对对碰 爱上海同城论坛 check out all of our holiday party coverage here.

Photo by Jhila Farzaneh/The Real Deal and Steve Friedman

Tags: holiday parties
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The Real Deal Showcase

Announcing panelists for The Real Deal’s 11th annual New York Showcase and Forum Mark上海同城对对碰交友社区 上海夜网论坛 your calendars for May 14 at the Metropolitan Pavilion

The Real Deal’s 11th annual New York Real Estate Showcase and Forum is shaping up to be one of our biggest and爱上海同城论坛 爱上海同城 best events yet. Mark your calendars for May 14 and join us at the Metropolitan Pavilion for a full day of programming, networking and viewing the latest real estate projects and products.

Click here for tickets

Panel topics for the day include:

New development frontiers: Which areas and types of projects are NYC s next hot ticket?
Residential s silver lining playbook: Amid he上海千花网交友 上海千花网论坛avy discounting and buyer uncertainty, how billions in deals are still getting done
Union vs. Nonunion bu爱上海同城论坛 爱上海同城ilding: Exploring the future of construction in NYC
Looking at the shifting strategies of commercial brokers and brokerages amid a slower market

Some of the confirmed panelists to date include REBNY s John H. Banks; Silverstein Propertie阿拉爱上海同城 爱上海龙凤419桑拿s Marty Burger; Town Residential’s Andrew Heiberger; Alchemy Properties’ Ken Horn; Douglas Elliman’s Raphael DeNiro; AECOM Tishman s Jay Badame; RKF s Robert K. Futterman; Cushman Wakefield s Joanne Podell; the Building and Construction Trades Council of Greater New York s Gary LaBarbera; Building Trades Employers Association s Lou Coletti; JLL s Peter Riguardi; CORE Real Estate’s Shaun Osher; Warburg Realty’s Clelia Peters; NKF s Dustin Stolly; Halstead Property’s Diane Ramirez; a[……]

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LA Times HQ

Job search site CEO nabs $85M Bel Air compound, co-working companies get creative, and more… Los Angeles briefs

2300 Imperial Highway in El Segundo

New home of LA Times is revealed

Billionaire medical entrepreneur Dr. Patrick Soon-Shiong announced plans to move the 137-year-old Los Angeles Times from Downtown Los Angeles to El Segundo, a small city south of the Los Angeles International Airport that’s best known as a hub of aerospace and defense industries.

Soon-Shiong, who agreed to buy the Times in February for $500 million, made the announcement at a town hall-style meeting with staff on April 13, and the newspaper later announced it on its website.

The unassuming seven-story office building, at 2300 East Imperial Highway, is one of at least five buildings Soon-Shiong owns in the city. It’s currently being renovated to accommodate a newsroom on multiple floors, a cafeteria, retail shop, museum, studios and event spaces. The mission, he added, was “to create the most modern newsroom.” Soon-Shiong also said that the Times “[needs] to build a campus that is there for the next 100 years, not to lease a building.”

The Times has been at the Downtown building, which bears its name and is near many of the government institutions it regularly covers, since 1935.

Can the co-working craze last?

In Los Angeles, where the Entertainment and technology industries have bred an array of startups, co-working companies have also found their niche.

Across Greater L.A., these firms occupy about 3[……]

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NY Real Estate Campaign Finance

Who got a bunch of real estate money right before election day? These candidates. AG candidates, IDC members上海龙凤论坛 新上海贵族宝贝论坛 doted on with late gifts from developer and labor interests

From left: Marc Holiday, Aby Rosen, Tish James, Jeff Klein, and Sean Patrick Maloney (Credit: Getty Images)

Thursday is New York s Democratic primary election and the wallets of the city s real estate and construction concerns won t close until the polls do.

Candidates for state senate and attorney general have raked in more than $161,000 from property and construction labor groups since Monday, an analysis of Board of Elections campaign contributions by The Real Deal has found. Much of that money has gone to Attorney General candidate and current Democratic congressman Sean Patrick Maloney, who took in an extra $60,500 from developers, including RFR Realty s Aby Rosen and Michael Fuchs, Helena Durst, and Henry Elghanayan.

New York City Public Advocate Letitia James, another AG candidate who has received plenty of real estate contributions, also pulled in $17,500 from real estate-connected donors including Eastern Union Funding co-founder and mortgage broker Abraham Bergman ($5,000) and SL Green Realty ($10,000).

Added together, James and Maloney have raised well in excess of $700,000 from real estate donors this election cycle, with Maloney raising the most from the industry.

In just the last three days before election day, construction labor unions have also doled out cash上海龙凤论坛sh1f 上海龙凤论坛 to multiple members of[……]

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