Sterling Mason NYC

After no bites, Sterling Mason penthouse listed for fourth time Almost every other apartment in Taconic’s condo has sold

The pen阿拉爱上海同城 爱上海龙凤419桑拿thouse at 71 Laight Street

Three years since it was first listed, the $20 million penthouse at Taconic Investment Partners Sterl新上海贵族宝贝论坛 上海贵族宝贝交流区ing Mason condo is back on the market, but there’s no price drop in sight.

Since the Morris Adjmi-designed building at 71 Laight Street first launched sales in 2013, most of the 33 units have found buyers.

But Penthouse C, a duplex which boasts nearly 5,000 square feet and four bedroo上海夜网论坛 上海夜网ms, has languished on the market since it was first brought to market. The duplex features a private terrace of nearly 1,100 square feet. There’s also a library, a great room and what the listing describes as the building’s largest master suite.

Despite a slowdown in the luxury condo market an analysis by The Real新爱上海同城对对碰论坛 上海同城对对碰交友社区 Deal from earlier this year found that more than 35 percent of Manhattan penthouses had seen a price chop Taconic r上海贵族宝贝论坛 上海贵族宝贝efuses to drop the price.

Curbed notes that condos of a similar size in Tribeca such as 56 Leonard and 30 Park Place have sold for higher prices. And another of the three penthouses in the Sterling Mason did sell for the asking price of $23 million, so there may be hope for the sponsors yet.

Bruce Ehrmann, Roger Erickson and Christopher Morales of Douglas Elliman  have the listing. [Curbed] Miriam Hall

Tags: Sterling Mason, taconic investment partners
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404 West 20th Street

Landmar阿爱上海同城 阿拉爱上海同城ks approves ba爱上海同城手机版 新爱上海同城对对碰论坛nker s plan to turn Chelsea s oldest home into megamansion Advocates angry that plans don’t preserve side yard

From left: The existing r上海同城对对碰交友社区 上海夜网论坛ear facade and the approved rear facade at 404 West 20th Street in Chelsea

The Landmarks Preservation Commission last week approved plans to turn the oldest home in the Chelsea Historic District into what preservationists have derided as a megamansion.

Ajoy Kapoor, who founded the private equity firm Saffron Capital Advisors, plans to expand his home at 404 West 20th Street into the side yard of the property, DNAinfo reported. The renovation has angered community advocates and officials, who argued that more of the hist上海贵族宝贝 上海千花网龙凤论坛oric sid阿爱上海同城 阿拉爱上海同城e yard should be preserved.

At a meeting in June, Landmarks sent Kapoor back to the drawing board, asking that he scale back the expansion. The commission approved the altered design on July 26.

“The commission previously asked the applicants to reduce the scale of the addition in order to preserve a sense of the original building volume at the roof and top floor, and the applicants made these changes,” an LPC spokesperson told the news website.

Advocates railed against the approval, arguing that Kapoor s plans should ve retained more of the house, especially the height and depth of the building s side yard.

“The proposed construction [will] fundamentally change what this house is and has been for nearly two centuries,” Greenwich Village Society for Historic Pr[……]

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12 East 73rd Street

Qatar is so filthy r爱上海同城论坛 爱上海同城ich that even its servants have a $41M mansion上海千花网交友 上海千花网论坛 Nation bags former UES home of billionaire Andrew Farkas

12 East 73rd Street, Andrew Farkas and Tamim bin Hamad Al Thani

It s Maid in Manhattan Qatari style. The Middle Eastern nation reportedly bought billionaire Andrew Farkas mansion on the 上海贵族宝贝 上海千花网龙凤论坛Upper East Side for $41 million, and plans to use it exclusively for the help.

The townhouse at 12 East 73rd Street backs up to a megamansion that the Qataris bought from Lycee Francais in 2002.

Andrew spent no expense renovating the place, but apparently it will be used for maids’ quarters,” a source told the New York Post. “The Upper East Side townhouse market is slow. If he’d sold it on the open market, he’d have [gotten] $20 million for it.”

Farkas paid $23 million for the house in 2007, and listed it for $42.5 million, or $3,971 per square foot.

Qatar paid $26 million for 7-9 East 72nd Street after the French private school relocated. The nation combined the two properties into a single, royal abode that reportedly will be the New York home of Princess Sheikha Mayassa Bint Hamad Al Thani. In addition to multiple bedrooms and foyers to house the princess’ art collection, the mansion has an indoor swimming pool and an 8,500-square-foot Roof Terrace.

A few weeks ago, The Real Deal reported that an entity registered to Hessa Hamad KH H Al-Thani paid $20.5 million for a unit at Harry Macklowe s 737 Park Avenue.

Earlier this month, five Arab countries form[……]

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Hamptons Real Estate

Hamptons Cheat Sheet: Developer takes plea deal for death of Elliman broker, East Hampton spec home gets $20M price cu上海千花社区 上海千花网交友t more

Clockwise from left: developer Sean Ludwick, 38 Two Mile Hollow Road in East Hampton, 719 Ocean Road in Bridgehampton.

 

Developer takes plea deal for Sag Harbor crash that killed an Elliman broker Sean Ludwick could get up to nine years in prison after he pleaded guilty to aggravated vehicular homicide, leaving the scene of a fatal accident and aggravated DWI in a crash that killed Douglas Elliman broker Paul Hansen. Hansen had been in the passenger s seat of Ludwick’s Porsche when it crashed in Sag Harbor in August 2015. Prosecutors said Ludwick, a part-time Bridgehampton resident who led Blackhouse Development, dragged Hansen’s body out of the car, dumped it by the side of the road and threw his personal belongings in the woods. “I’d just like to say I’m very sorry,” Ludwick said in court, 27East reported. “I feel awful for the circumstances. I want to extend my deepest sympathies and remorse.” [TRD]

East Hampton spec home gets a whopping $20M price cut

An eight-bedroom, 9.5 bathroom home off Further Lane is on sale for $24.75 million, which probably isn’t all that shocking. But considering that the spec home was originally listed at $45 million in 2013, people are taking note. Sitting on nearly three oceanfront acres at 38 Two Mile Road, there is a 8,242 square foot manse, an infinity pool and a tennis court. Despite all that and more, t上海千花社[……]

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Grand Central Retail Tenants

Grand Central is looking for new tenants to class up the terminal ASAP Say goodbye to coffee-on-the-go

(Diliff, back/Eva Rinaldi, front)

The Metropolitan Transportation Authority is looking for new tenants to move into Grand Central Terminal.

Say goodbye to grabbing a terrible yet necessary coffee-on-the-go, or picking up that bottle of wine you mea上海千花社区 上海千花网交友nt to buy days ago for your in-laws as you board the train. Tenants like Brooklyn-based Junior’s, Two Boots Pizza and Grand Harvest Wines are not part of the MTA s Grand Central makeover, according to the New York Post.

Instead, you can expect to be perusing the fine wares of Oprah Winfrey s former personal chef in the store Art Bird Whiskey Bar.

The MTA s search for new tenants is imminent: five request for proposals for retail space are supposed to be released by the end of 2017 with 12 mo爱上海同城对对碰 爱上海同城论坛re to go out in 2018.

“Heading into the next tw上海千花网龙凤论坛 上海千花社区o years, we expect a hastening pace of RFPs for retail spaces at Grand Central,” said an MTA spokesman to the Post.

[New York Post] E.K. Hudson

Tags:阿拉爱上海同城 爱上海龙凤419桑拿 Commercial Real Estate, 新上海贵族宝贝论坛 上海贵族宝贝交流区Grand Central Terminal, Metropolitan Transportation Authority, NYC Retail Market
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Trump Tax Plan

Call it buried tax treasure for homeowners: Deep inside the behemoth 654-page bipartisan budget bill recently signed into law by President Trump are little-noticed extensions of key tax-code benefits that expired in 2016, but now can be used for upcoming 2017 tax filings.

Potentiall爱上海同城手机版 新爱上海同城对对碰论坛y the most popular is aimed at millions of buyers and owners who pay mortgage-insurance premiums on conventional, FHA and VA loans. Roughly 4.1 million owners took write-offs averaging more than $1,500 during 2015, the most recent year for which statistics are available. Mortgage-insurance industry officials predict that at least that many will be able to qualify for the benefit on their 2017 tax returns provided they learn the deduction has been revived for the year.

Mortgage insurance is designed to cover a portion or all of a lender s risk of loss in the event of default on home loans where borrowers make less than a 20 percent down payment. The coverage is especially commonplace and important on mortgages made to first-time purchasers and to households with moderate or lower incomes. Fees are either folded into borrowers monthly payments or paid in a lump sum up front.

Congress first authorized tax deductions for mortgage-insurance premiums more than a decade ago, but legal authority for the write-offs lapsed at the end of 2016. The new budget bill provides for a retroactive extension for premiums paid during 2017, but it s silent about future deductions, including for 2018.

To qualify for[……]

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Ben Carson

Ben Carson wants to raise rents for Americans getting federal housing subsidies Trump administration will propose tripling the amount for the poorest homes

Ben Carson (Credit: Gage Skidmore via Flickr)

U.S. Housing and Urban Development Secretary Ben Carson hopes to increase the amount that low-income families pay in rent and make it easier for property owners to impose work requirements on people who receive federal housing subsidies.

The move would impact 4.7 million families who receive housing assistance from the federal government, and the legislation爱上海 爱上海同城手机版 would require congressional approval, according to the Washington Post.

Tenants tend to put roughly 30 percent of their adjusted income toward rent, and this 新上海贵族宝贝论坛 上海贵族宝贝交流区is capped at $50 a month for the poorest families. However, the Trump administration would like to set the rent contribution at 35 percent of gross income and raise the cap for the poorest families to roughly $150 a month. Roughly 712,000 households would have their rents rise to $150 under this plan.

The bill would also expand the ability of property owners and public housing agencies to establish work requirements, something that only 15上海龙凤论坛sh1f 上海龙凤论坛 agencies in roughly 12 states currently do. HUD would like to get rid of medical and child-care cost deductions when determining rents for tenants as well.

Disabled people and people older than 65 would be exempt from these increases for the first six years and from work requirements.

Critics blasted the plan as cr[……]

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Hurricane Michael

Hurricane Michael is a new test of Florida s odd property insurance market Small and mid-size insurance companies and their reinsurers will 爱上海同城论坛 爱上海同城pay for much of the storm’s damage in the state’s Panhandle region

Hurricane Michael damage at Mexico Beach, where the storm made landfall (Credit: Business Insider)

Hurricane Michael’s damage to property in the Florida’s Panhandle region on Wednesday will provide a fresh test of the state’s unusual property insurance market.

Florida is odd because such industry leaders as Allstate and State Farm play a much smaller role in protecting home owners than they do in other states. Small Florida property insurers with backing from larger reinsurance companies around the world will pay for the bulk of M上海千花网 爱上海同城对对碰ichael’s damage.

Early estimates of insured losses from Hur上海夜网论坛 上海夜网ricane Michael are $2 billion to more than $10 billion, potentially larger than estimated losses of $2 billion to $5 billion from Hurricane Florence, which made landfall last month in the Carolinas.

Much of the property insurance in Florida is provided by approximately 50 small and mid-size companies, which are required to buy substantial reinsurance because they have less capital – and thus less margin for underwriting error – than national insurance companies.

State officials and industry analysts say Florida’s unusual property insurance market performed well after Hurricane Irma hit the Florida Keys last year as a Category 4 storm.

Elyse Greenspan, an insurance stock anal[……]

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Brooklyn Navy Yard

Brooklyn Navy Yard Development Corp. takes over building after tenant falls thr阿拉爱上海同城 爱上海龙凤419桑拿ough, lands new financing A $42M financing package is being used to renovate Building 127

A rendering of Building 127 (Credit: S9 Architecture via Curbed NY)

The Brooklyn Navy Yard Development Corp.  has received a $42 m上海千花网论坛 上海千花网illion financing package to renovate one of its buildings.

The repositioning of Building 127, located between Third and Fourth Streets on Morris Avenue, will give it 95,000 square feet of industrial-manufacturing space, according to the New York Post. The structure was built in 1904 and has been used in the past to make boat parts and pack sugar.

The Dutch business-incubator firm B. Amsterdam previously had agreed to lease the whole building for 26 years, but the deal ultimately fell through.

The new financing includes $25 million from Goldman, $10 million from Chase, $4 million from the city and other types of equity from five other organizations.

S9 Architecture and Engineering will oversee the renovation.

The Brooklyn Navy Yard is in the midst of a $2.5 billion master plan that aims to eventually create 30,000 jobs on the site. Developers Rudin Management and Boston Properties are in the midst上海千花网论坛 上海千花网 of building Dock 72, an office building on the site which will be anchored by WeWork. [NYP] – Eddie Small

Tags: brooklyn navy yard, Commercial Real Esta上海同城对对碰交友社区 上海夜网论坛te
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Gerald Morganstern

Gerald Morganstern, CRE attorney, dies at 76 The attorney, with a career spanning over 50 years, was a partner at Goetz Fitzpatrick, where he handled commercial and retail leasing transactions

Gerald Morganstern

Gerald Morganstern, a commercial real estate attorney who started his career in New York almost decades ago, has died at the age of 76.

The veteran attorney, who was well-known in the New York commercial real estate world, and also in civic roles in his home of Hewlett Harbor, NY., passed away last week. It was first reported by The New York 上海贵族宝贝论坛 上海贵族宝贝Law Journal.

His colleagues at Goetz Fitzpatrick said Morganstern’s expertise included representing clients on purchases, sales and refinancings, as well as leasing for office, showrooms, industrial spaces and shopping centers.

Jerry had a great influence on our real estate practice and was widely respected in our firm and the industry,” Aaron Boyajian, managing partner of Goetz, told the outlet.

Morganstern joined Hofheimer Gartlir Gross in 1967 to conduct real estate transactional law, and after three decades, was promoted to managing partner in 2000. After the firm dissolved in 2014 – after 47 years there – he joined Goetz Fitzpatrick.

He also held positions in multiple organizations, including as president of B’nai B’rith Real Estate of New York. He also provided arbitration services for the Real E上海贵族宝贝 上海千花网龙凤论坛state Board of New York when brokers had disputes.

Jerry was a great leader, a h上海贵族宝贝论坛 上海贵族宝贝ard worker and a wonderful man,[……]

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