New Homebuyers

Buyers may be about to flood the biggest part of the housing market In the past two weeks — since Donald Trump was elected president — mortgage rates jumped along上海千花网论坛 上海千花网side other interest rates

New homes being constructed

New homebuyers may be about to flood the US market for existing homes to lock in the lowest mortgage rates they can.

In the past two weeks — since Donald Trump was elected president — mortgage rates jumped alongside other interest rates. This happened as investors raised their expectations for economic growth and inflation, placing their bets on Trump s plans to spend heavily on infrastructure and cut taxes.

Th上海千花网龙凤论坛 上海千花社区e Bankrate.com 30-year national average rate was up from 3.5 percent on Election Day to 3.95 percent on Tuesday, the highest level since December 2015. This is still historically low.

In the short-term, some prospective buyers may rush to lock in their rate and buy now, while others — especially those in higher-priced markets — may be forced to delay as a larger monthly payment outstretches their budget, Lawrence Yun, the chief economist at the National Association of Realtors, said in a data release on Tuesday.

The NAR released its monthly report on existing-home sales, which showed that sales rose at the highest annualized pace in a decade during October. Sales increased by 2 percent at a seasonally adjusted annual rat爱上海 爱上海同城手机版e of 5.60 million, beating economists consensus forecast.

And if mortgage rates continue rising, existing-home sales — whic[……]

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New Homes Sales

New US home sales fell significantly in December Deal volume dropped more than 10% month-over-month: Commerce Department

Sales of newly-built U.S. homes fell sharply between November and December, hitting their lowest level in nearly a year.

The purchases of new, single-family homes dropped 10.4 percent month上海贵族宝贝 上海千花网龙凤论坛-over-month to a seasonally adjusted annual rate of 536,000, the Wall Street Journal reported, citing Commerce Department data. That was the slowest monthly sales pace since February and the biggest month-over-month drop since March 2015, according to the Journal.

The chief economist at Nationwide Insurance told the paper the fall was “a shocker.” However, he said home sales are volatile throughout winter and he expects new-爱上海 爱上海同城手机版home sales to pick up in 2017.

Sales of new homes spiked in November, as buyers rushed to sign contracts ahead of rising interest rates.

Around 563,000 new homes sold last year, a爱上海同城手机版 新爱上海同城对对碰论坛 12 percent jump from 2015, an indication of broad improvem新爱上海同城对对碰论坛 上海同城对对碰交友社区ent across the market, according to the Journal. Sales of new homes which represent about 10 percent of the market across the country are still well上海千花网论坛 上海千花网 below where they were during the housing boom of the 2000s. [WSJ] Miriam Hall

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Jared Kushner

Jared Kushner didn t disclose stake in Cadre, $1B in loans: report Experts say failure to report presents potential conflict of interest

Jared Kushner (Credit: Getty Images)

When filling out his government disclosure forms, Jared Kushner omitted a few things, including his stake in a real estate tech company and at least $1 billion in loans.

The president s son-in-law and senior advisor didn t disclose his stake in Cadre, a tech startup he co-founded with his brother and Ryan Williams in 2014, or上海同城对对碰交友社区 上海夜网论坛 loans totaling at least $1 billion from 20 different lenders to properties and companies爱上海龙凤419桑拿 上海龙凤论坛sh1f co-owned by Kushner, the Wall Street Journal reported. As a stakeholder in Cadre, Kushner is business partners with Goldman Sachs Group, Peter Thiel and George Soros (whose investment was f上海千花网 爱上海同城对对碰irst reported by The Real Deal in January).

His interest in Cadre is the kind of investment that would usually need to be disclosed. But his failure to publicly report the debt doesn t necessarily violate disclosure rules, experts told the Journal. Still, there s some concern that undisclosed business ties could present potential conflic上海贵族宝贝 上海千花网龙凤论坛ts.

“Anything that presents a potential for the conflict of interest should be disclosed so that the public and the press can monitor this,” Trevor Potter, a Republican former chairman of the Federal Election Commission, said.

An attorney for Kushner noted that a revised version of his disclosure forms includes his stake in Cadre. According to the[……]

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Darrell Rubens

Jeff Winick and Darrell Rubens

Retail broker Darrell Rubens is leaving Winick Realty after more than 20 years, but denied rumors that he fell out with company head Jeff 爱上海同城手机版 新爱上海同城对对碰论坛Winick.

“I am trying to figure out my future as we speak,” the 45-year-old told the Commercial Observer. “I thought of them as family. I was there上海夜网论坛 上海夜网 for 21 years and it was time for a change.”

Rubens, who recently brokered Biscuit Bath’s lease at 71 Broadway, is the latest agent to leave Winick, following Michael Gleicher, Diana Boutross, who went to Cushman Wakefield, Zach Mishaan, who left for RKF.

As retail leasing slowed over the past two years, brokerages find themselves under more competitive pressure. Earlier this year, Winick launched an investment sales division. [CO] Konrad Putzier

Tags: Winick Real上海千花网交友 上海千花网论坛ty Group
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First Reserve moves headquarters from Greenwich to Stamford

Investment giant First Reserve has stealthy moved its headquarters from Greenwich to Stamford’s Shippan Landing. As爱上海同城论坛 爱上海同城 one of Connecticut’s largest private equity firms, First Reserve signed阿爱上海同城 阿拉爱上海同城 a lease for 35,000-square-feet in 290 Harbor Drive la上海千花网 爱上海同城对对碰st fall, but made no announcement about leaving out of One Lafayette Place in Greenwich, where BlackRock is now a tenant. [Greenwich Time]

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Cornell Tech

AJ Capital Partners inks 65-year ground lease for Cornell Tech hotel Company snagged $60M loans for hotel project

Rendering of the education center and hotel (C上海千花网龙凤论坛 上海千花社区redit: Cornell Tech and Snøhetta)

AJ Capital Partners inked a 65-year ground lease for a site on Roosevelt Island where the company and Cornell Tech are building a 224-key hotel.

The lease inc新上海贵族宝贝论坛 上海贵族宝贝交流区ludes a site adjacent to the Verizon Executive Education Center on North Loop Road where the firm and University are developing a Graduate-brand上海千花网龙凤论坛 上海千花社区ed hotel. The d上海千花社区 上海千花网交友eal is valued at $113 million, which would mean installments of $1.7 million each year if paid equally across six-and-a-half decades. According to a lease agreement filed with the city on Thursday, AJ Capital has first dibs on buying the property if Cornell decides to sell the site. Both the education center and the hotel — which are connected — are designed by Snøhetta.

Representatives for AJ Capital and Cornell didn t immediately return messages seeking new information.

Construction on the 18-story hotel began earlier this week, as reported by Curbed. It s expected to open in 2020. The Commercial Observer first reported that AJ Capital secured $60 million from Emigrant Savings Bank for the hotel. The sum includes a $33.4 million building loan and a $26.6 million project loan.

The first three buildings planned for the 12-acre Cornell Tech campus opened late last year, and the three-phase新爱上海同城对对碰论坛 上海同城对对碰交友社区 project is expected to be complete by 2043.[……]

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Ceruzzi Properties

Ceruzzi s Midtown condo will launch sales at projected $536M sellout Construction of the tower at 138 East 50th Street is nearing completion

Ceruzzi s Arthur Hooper, Jr. and 138 East 50th Street (Credit: Tectonic)

Ceruzzi Properties and partner SMI USA can launch sa上海贵族宝贝论坛 上海贵族宝贝les for their Midtown East condominium development at 138 East 50th Street, according to records filed with the New York state上海夜网 阿爱上海同城 Attorney General s office.

The AG s real estate finance bureau accepted the developer s offering plan last month for the 124-unit project with a total asking sellout of price of $535.7 million, or roughly $4.3 million per unit on average.

A representative for Ceruzzi did not immediately respond to a request for comment.

The 803-foot-tall tower topped out construction in November, New York YIMBY reported.

Ceruzzi originally planned to build a 500-foot-tall hotel at the site, but changed things up in 2015.  The company later obtained a $300 million construction loan from Madison Realty Capital this past August, less than two weeks before company founder Lou Ceruzzi died.

The accepted offering plan shows the developers have dubbed th上海同城对对碰交友社区 上海夜网论坛e Pelli Clarke Pelli-designed tower the Centrale. Though one of the priciest projects brought to market so far this year, the Centrale s expense pales in comparison to Ceruzzi s other major condo project in progress, 520 Fifth Avenue, where construction alone costs are expected to exceed $500 million.

Tags爱上海同城论坛 爱上海同城: Ceruzzi Properties, Development[……]

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Airbnb Complaints

Airbnb complaints reach record high A weekly feature bringing you the industry’s latest intel

Interior of Airbnb rental in TriBeCa (Credit: Airbnb)

Airbnb complaints saw a 152 percent year-over-year increase, according to this week’s market reports. The short-term rental上海贵族宝贝 上海千花网龙凤论坛 provider has been battling the City Council, and on Wednesday, the legislative body voted to push forward a bill requiring hosts to register with the city.

Residential

Airbnb Complaints | ValuePenguin

Illegal hotel complaints relating to Airbnb reached an all-time high last May. The city’s Department of Buildings received 720 complaints that month, up 152 percent compared to the same time last year. Over that same time period, there was a 150 percent increase in violations issued. Hell’s Kitchen and Chelsea registered the most complaints in May. Read the report here.

Sales | Corcoran Group

Brooklyn registered a total of 1,620 closed sales in the second quarter, up 5 percent from the same time last year. The figure represents the highest second quarter total in the last decade. The increase was partly due to co-op resales, which posted a 13 percent year-on-year hike. New development sales also saw a 12 percent increase. During that period, the median price for a Brooklyn home stood at $687,000, down 8 percent from the same time last year. The biggest barga上海千花网交友 上海千花网论坛ins were in Brooklyn Heights and Carroll Gardens, which each registered declines of 17 percent. Read the report here.

Commercial

Manhattan Q2 2018 Off[……]

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Xinyuan Real Estate

There s more trouble ahead for Chinese developer of Oosten condo The board’s attorney filed liens against 43 units

Ooste爱上海同城 爱上海n at 421 Kent Avenue in B爱上海同城手机版 新爱上海同城对对碰论坛rooklyn (C新上海贵族宝贝论坛 上海贵族宝贝交流区redit: iStock)

The Chinese developer behind Williamsburg’s Oosten condominium is on the hook for more than $250,000 in common charges, according to a new report.

That puts the board’s finances in a tough spot, the New York Post reported. The board’s attorney, Adam Leitman Bailey, filed liens against 43 of the units for unpaid charges from October 2018 through Jan. 1, totaling nearly $253,000.

The move adds to existing legal conflicts XIN Development, the U.S. arm of Xinyuan Real Estate, is facing at the project. Last year, Halstead Property Development Marketing sued the developer, alleging it was owed nearly $1.3 million after getting terminated from the project. According to the lawsuit, Halstead was hired by Xinyuan in 2013 and last year, amid a shakeup of the developer s New York team, was terminated without cause.

In 2017, the company dismantled the team running its U.S. development arm. Following the departure of several key executives, XIN has turned over the management of three New York City projects to Kuafu Properties, a four-yea新爱上海同城对对碰论坛 上海同城对对碰交友社区r-old development firm backed by Chinese private equity. Xinyuan said it would retain ownership of the projects.

The company has had rocky relationships with vendors and faced other litigation as well. In 2015, facing rumors of cost overruns, Xinyuan filed a[……]

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Andrew Cuomo

Cuomo to爱上海同城手机版 新爱上海同城对对碰论坛 Bezos: Baby, please don t go Local orgs and officials planned open letter to Bezos

Andrew Cuomo and Jeff Bezos

Gov. Andrew Cuomo has been working furiously behind the scenes to bring Amazon back to New York.

In the two weeks since Amazon announced its withdrawal from plans to build half of its second headquarters in Long Island City, Cuomo has had multiple phone calls with the company s executives, including CEO Jeff Bezos, the New York Times reported.

Sources told the publication that this appeared to be the first time that Cuomo and Bezos had ever spoken with each other about the company s plans for Queens. The governor did not offer a new location for the project, but promised to help guide the company through the approval process.

Amazon executives gave no indication that they might reconsider. A spokeswoman for Amazon declined to comment

Furthermore, the Times has revealed an open letter to Bezos that had been a上海千花网 爱上海同城对对碰rranged for publication in the newspaper this Friday. The letter urges Bezos to reconsider the withdrawal, and promises that Governor Cuomo will take personal responsibility for the project’s state approval, and Mayor de Blasio will work together with the governor to manage the community development process.

The letter is signed by local businesses, union, community groups and politicians that support Amazon s plans. Modern Spaces CEO Eric Benaim and 上海贵族宝贝 上海千花网龙凤论坛Tishman Speyer president and CEO Rob Speyer also appear among the signatories.

The爱上海同城论坛[……]

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