Despite slip in confidence, US homebuilders remain optimistic National Association of Home Builders post 1% decrease in confidence in July
Tiny hiccups in morale aside, American homebuilders will keep calm and carry on.
Homebuilder confidence for the single-family market decreased one point to 59 (out of a maximum 100) between June and July, the National Association of Home Builders posted Monday. Expectations for the next six months also fell by three points to 66, but they remain positive as sales have been slowly recovering since the recession.
The highest point of confidence since the recession was 65 in October. The slightly more pessimistic outlook can be attributed to regulatory constraints, the scarcity of lots and shortage of labor, Ed Brady, chair of the 爱上海同城对对碰 NAHB, said in a statement.
Steady growth will persist, however, thanks to low mortgages and high employment rates, according to Robert Dietz, chief economist of NAHB.
“The economic fundamentals are i爱上海龙凤419桑拿 n place for continued slow, steady growth in the housing market,” Dietz said. “These factors shou爱上海同城论坛 ld help to bring more buyers into the market as the year progresses.”
The builder confidence index is a metric for how likely they are to kick off construction on projects, which creates jobs and stimula新爱上海同城对对碰论坛 tes the sale of a range of home products and materials.
Meanwhile, existing home sales also recently saw a year-over-year dip. [NAHB] Cathaleen Chen
Tags: national association of homebuilders
Million Dollar Listing New York : Don t quit your day job, and always bring a spare tutu Recap for Season 5, Episode 11
Luis Ortiz, Ryan Serhant and Fredrik Eklund
On this week s episode of Million Dollar Listing New York, Luis questions his futu上海千花网交友 re in the real estate industry, while Fredrik uses the business to block out some very personal pain. Facing yet another demanding developer, Ryan gets creative at a Hell s Kitchen condo, where he must sell 16 units in just 60 days.
With just one episode left before the finale, here s where we leave our broker bros:
At first glance, Luis’ Test Drive with potential business partner and fellow Douglas Elliman broker Michael Graves appears to be going smoothly. The two have teamed up to sell a “mansion” unit at 36 Bleecker Street, and are now hard at work convincing prospective buyers the listing isn’t overpriced. During the open house, however, Luis has a small meltdown when a fellow broker reveals she’s been in the business for (gasp!) 25 years. This sends him on a downward spiral of existential angst, making him question whether or not he’d like wake up at (gasp!) age 53 and still be working in real estate. “I have never dreamed of being in this position you know, I never even planned to have this job, I just阿爱上海同城 sort of fell into it,” he says. “And if I don’t ask myself this question, this is what I may end up doing for the rest of my life.” You mean, selling top-dollar properties and starring on an Emmy-nominated reality[……]
Trump Tower s newest amenity, aka the security service, is also a well known nightmare for the posh shops in or surrounding the tower. But one by one, Fifth Avenue s top shops are accepting their fate. And Tiffany Co. s flagship next door to Trump Tower has devised a unique solution.
Tiffany recently unveiled blue cloth monogrammed covers for NYPD barricades outside Trump Tower. Moreove上海龙凤论坛 r, the barricades create a pathway allowing customers to directly access the store and its holiday windows, according to New York magazine. Bellhops wearing Tiffany-blue scarfs are also being stationed along the pathway.
The famed jewelry store commissioned the barricade covers for its holiday window unveiling in November, but the event was canceled due to security concerns. But they seem to have now struck a deal with the NYPD.
“Tiffany is in frequent communication with the New York Police Department and U.S. Secret Service regarding safety and security al上海贵族宝贝交流区 ong the perimeter of our Fifth Avenue flagship,” a Tiffany representative told WWD. [NY Mag] Christopher Cameron
Tags: Retail新上海贵族宝贝论坛 Real Estate, tiffany, trump tower
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The eviction gamble Driven by a tight rental market, landlords are using every available tool to get rent-stabilized tenants out, but activists are biting back in increasingly painful ways
The L.A. Tenants’ Union staged a protest outside L.A.’s Housing Department in December 2016.
It’s a tough time to be a renter in Los Angeles. Then again, it’s a tough time to be a landlord, too.
L.A.’s multifamily market is hotter than ever, particularly in the neighborhoods surrounding Downtown. But due in part to the layers of bureaucratic red tape surrounding development, inventory is tight: Housing units from new construction increased by less than half a percent, to 16,600, in L.A. County in 2016. Demand is so high that L.A. has been named the most unaffordable city f上海贵族宝贝论坛 or renters and buyers in all of the U.S., according to a new report from the UCLA Anderson School of Management.
With market-rate rents edging ever higher, landlords of rent-controlled units see their losses pile up. Thus, they have huge incentives to upgrade their older, rent-regulated properties into market-rate buildings, no matter what construction-related headaches they encounter. But first, they must navigate the city’s tenants’ rights laws in order to move rent stabilized tenants out.
A look at the numbers suggests that in the past few years, landlords have had increasing success doing just that. Last year, under the Ellis Act — the state law allowing landlords to evict tenants of rent-stabilized units if th[……]
Robin Birley to open nightclub at Reubens new U上海贵族宝贝 nion Sq. building Famous London club owner partners with the billionaire brothers
14-16 East 16th Street and Robin Birley
Famed British club manager Robin Birley plans to open a nightclub and hotel at 14-16 East 16th Street, which the Reuben brothers recently acquired.
The Institute for Family Health sold the 37,000-square-foot medical office building near Union Square for $39.5 million earlier this month, as The Real Deal reported. Billionaires David and Simon Reuben, who are the landlords of Birley’s nightclub 5HS in London, are the buyers, according to the New York Post.
5HS is one of London’s best known clubs新上海贵族宝贝论坛 and reportedly the scene of Prince Harry and Meghan Markle’s first date. The New York establishment will look different.
“It’s not an outpost of 5 Hertford Street,” a source told the Post. “Any club that Robin opens in New York will be substantially different.上海夜网论坛 ”
Birley, son of socialite Annabel Goldsmith and 新上海贵族宝贝论坛 nightclub entrepreneur Mark Birley, also founded a chain of U.K. sandwich shops. He was mauled by a tiger in his friend’s private zoo at age 11, leaving his face disfigured. [NYP] Konrad Putzier
Tags: Commercial Real 上海千花网交友 Estate, NYC Clubs
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Preferred Bank foreclosing on Michael Paul Enterprises’ UES condo building Bank has a $22M mortgage on property, and Paul defaulted on the loan in February
184 East 64th Street
The California state chartered bank has a $22 million mortgage on the property, and pre上海千花网龙凤论坛 sident and CEO Michael Paul D’Alessio defaulted on the loan in February, according to a lawsuit the bank has filed against him. He still owes the bank $21.9 million, along with interest and fees, the suit says.
Earlier in April, investors sued D’Alessio, accus上海贵族宝贝 ing him of misappropriating funds meant for projects on the Upper East Side, Long Island and Scarsdale, according to the Journal News.
Representatives from Michael Paul Enterprises and Preferred Bank did not respond to requests for comment.
The company recently sold a property assemblage at 163-167 East 62nd Street to Churchill Capital Management for $18.2 million. It had previously planned to build condos on the site.
Tags: Residential Real Estate, upper east side
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Missed opportunity: LES co-op wants to re-vote on air rights sale but developers say they ve moved on Not enough co-op owners came out to vote on the $58M deal in June, but now residents say they want another chance
(Credit: Seward Park Co-op, Pixabay)
Too late is the message Ascend Group and Optimum Asset Management has for residents of Seward Park Co-op.
The developers of a former nursing home site in the上海龙凤论坛 Lower East Side had wanted to buy the air rights from the four-building co-op for $54 million but, after the residents June vote failed to generate enough turnout to be binding, the developers moved on with a new plan to build a 26-story tower, according to The Lowdown.
Months later, the co-op residents have come back上海千花社区 to the developers saying they were able to drum up enough signatures to hold a second referendum, but the development team rebuffed them saying they re moving forward without any more delays.
The co-op board informed the residents of the response in a memo saying that “爱上海同城论坛 the developers are not interested in revisiting the air rights proposal and are instead planning to proceed with as-of-right development.”
Seward Park Co-op has a $12 million maintenance bill coming up and now that the air rights sale is a no-go, the co-op board says it has plans to close a $60 million loan soon.
In 2010, the co-o上海千花网论坛 p s air rights were appraised at $100 million. [The Lowdown] Erin Hudson
Tags: co-op boards, lower e上海夜网 ast side, Residential Real Estate
Cuomo爱上海同城手机版 looking to go around City Council to pave way for Amazon s Long Island City HQ Governor could sidestep normal land-use process to rezone waterfront sites
Governor Andrew Cuomo and Amazon CEO Jeff Bezos with renderings of Anable Basin (Credit: Getty Images and WXY)
Gov. Andrew Cuomo is likely to turn to a controversial planning process used on projects like Atlantic Yards and the World Trade Center in order to push forward Amazon’s potential headquarters in Queens.
The Cuomo administration is planning to create what’s known as a general project plan to rezone a roughly 20-acre site around the Anable Basin on the Long Island City waterfront to pave the way for a sprawling office and mixed-use campus, Crain’s reported.
The process would give the state the power to greenlight the project without securing approval from the City Council, which usually holds most of the power when it comes to major rezoning projects.
Local City Council member Jimmy Van Bramer — who holds what would likely be the key vote in any city rezoning process — was highly critical of the governor’s plans.
I m not just surprised, I m angry,” 上海千花网论坛 he said. I think it would be shocking if this was done in a way that bypassed the city land-use review process. This is the most top-down approach to a project I have seen so far, with no comm上海贵族宝贝 unity involvement. This is the governor and the mayor and [Amazon CEO] Jeff Bezos sitting in a room together.
But a source in the Cuomo administration pointe[……]
Developer of East Village hotel blames a grass roots campaign of fear and misinformation for project holdup The director of the neighboring Merchant’s Museum has openly opposed the plan
Merchant’s House Museum at 29 East 4th Street (Credit: Google Maps)
The development firm trying to build a hotel in the East Village says its project was rejected over poli上海龙凤论坛 tics, not facts.
Kalodop II Park Corp., which has spent years working on a proposal for an eight-story hotel at 27 East 4th Street, is suing New York City, the City Council and Councilmember Carlina Rivera over the rejection of their ULURP application for the development.
A view of the parking garage at 27 East 4th Street (Credit: Google Maps)
The firm began seeking approvals to convert 爱上海同城论坛 its one-story parking garage on East 4th Street into a hotel in 2011, and the process has been fraught with controversy in large part because of the project’s location next to the Merchant’s House Museum. Community members and the museum’s executive director Margaret Halsey Gardiner have strongly opposed the plan, arguing that construction on the hotel would damage the landmarked property.
This opposition culminated in September, when the City Council rejected Kalodop’s ULURP application for the project, putting a major roadblock in the way of its completion.
Kalodop’s lawsuit, filed on Tuesday, asks the court to reverse the City Council’s disapproval and enter a judgement approving its ULURP application. It argues that the Landmarks[……]
Emmes and Hello Living head to court over $12M Bronx warehouse deal Escrow company Fidelity is caught in the middle
Hello Living’s Eli Karp 580 Gerard Street in the Bronx (Credit: Hello Living and Google Maps)
It’s a face-off between a real estate investment firm, a developer and now, a title insurance companyk
Real estate investment firm Emmes Asset Management is suing Eli Karp s Hello Living after the developer didn’t turn up to close on a $12 million deal on a Bronx warehouse, according to Commercial Observer.
Emmes went into contract with Hello Living on the roughly 新爱上海同城对对碰论坛 30,300 square foot property at 580 Ge上海龙凤论坛sh1f rard Street in November 2018, but did not come to the closing, according to a lawsuit filed in New York Supreme Court.
They are fighting over the $1.2 million down payment. Emmes says the money belongs to them, citing Hello Living’s failure to appear at closing as a default on the agreement. Hello Living is disputing that interpretation, according to their lawyers.
Ou上海同城对对碰交友社区 r client takes issue with the many mischaracterizations contained in the complaint which we are presently reviewing and intend on addressing at the proper time and in the proper manner,” said Terrence A. Oved, a lawyer representing Hello Living, in an emailed statement.
Now the title insurance/escrow company, Fidelity National Title Insurance Company, has filed its own lawsuit against both Emmes and Hello Living, requesting the court provide guidance on where they should transfer t[……]