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Blackstone building accuses residential tenant of running a restaurant in his one-bedroom

Were the crabs with endives served at 8 Spruce St. for friends or paying guests?.....»»

Category: blogSource: crainsnewyorkSep 22nd, 2022

Blackstone accuses residential tenant of running a restaurant in his one-bedroom

Were the crabs with endives served at 8 Spruce St. for friends or paying guests?.....»»

Category: blogSource: crainsnewyorkSep 22nd, 2022

WHO’S NEWS: Latest appointments & promotions

Hines announced that Sarah Hawkins has been promoted to chief executive officer of the U.S. East Region. She is now responsible for all development, acquisition, asset management and operations activity in the region and is a member of the firm’s global Executive Committee. Hawkins takes over the CEO position that... The post WHO’S NEWS: Latest appointments & promotions appeared first on Real Estate Weekly. Hines announced that Sarah Hawkins has been promoted to chief executive officer of the U.S. East Region. She is now responsible for all development, acquisition, asset management and operations activity in the region and is a member of the firm’s global Executive Committee. Hawkins takes over the CEO position that was previously held by Chris Hughes before he transitioned to co-head of Investment Management, as well as the CEO, Capital Markets. Hawkins joined Hines in the New York office as an Associate in 2011. Prior to her promotion, she served as the East Region’s chief operating officer, and before that, as a managing director in the New York regional office. Prior to joining Hines, she was an associate at Fortress Investment Group and, before that, an analyst with the Blackstone Group. She graduated from the University of Texas Phi Beta Kappa with a BA where she also received her BBA with High Honors. ••• JLL announced that Christine Colley will join the firm’s New York office as an executive managing director. Colley, previously a managing director at Cushman & Wakefield, has extensive experience in both the private and public sectors. During her career, Colley has leased more than four million square feet of space and has represented an array of clients including New York City Housing Authority, Atlice USA, Goldpoint Partners, Simons Foundation, Mitsui Fudosan and Alexandria Center. Colley has received multiple awards throughout her career, including Commercial Property Executives’ 2021 Stars to Watch, Real Estate Weekly’s 2020 Real Estate Rising Star Award, Commercial Observer’s 2019 30 Under 30 and Cushman & Wakefield’s Tri-State Top Producer in 2017 and 2016. ••• Cushman & Wakefield has welcomed a team led by industry veterans Deborah Van Der Heyden and Paul Ferraro, who will both serve as Executive Directors in brokerage. Based out of the firm’s 1290 Avenue of the Americas office, Van Der Heyden and Ferraro will be joined by Matthew Livingston and Ian O’Mahony. The team will focus on tenant representation in New York City. Deborah an Der Heyden is a 30-year industry veteran who has a wide breadth of experience across all property sectors across the US. Previously, she spent 12 years at JLL and 15 years at Newmark as a commercial real estate advisor. Van Der Heyden is a graduate of the College of Communications at Boston University and the master’s degree program at New York University’s Real Estate Institute. Paul Ferraro has more than 15 years of experience in transaction management and brokerage. Previously, he was a corporate real estate advisor at JLL and USI Real Estate Brokerage Services. He has a Bachelor of Science in Finance and Management from Villanova University. Livingston has seven years of experience and joins the firm as a Director. Previously at JLL, he graduated from Union College with a Bachelor of Arts degree in history and a minor in classics. O’Mahony has six years of experience and joins Cushman & Wakefield as a senior brokerage specialist. Previously at CBRE, he has a master’s degree in Real Estate from New York University. ••• Rockefeller Group announced that Jennifer Stein has been promoted to Assistant Vice President & Director, Leasing, for Core Holdings. She was previously a director, and will continue to be based in the company’s Manhattan headquarters. Stein is responsible for asset management, marketing and leasing of Rockefeller Group’s Midtown Manhattan office properties, primarily 1221 Avenue of the Americas and 1271 Avenue of the Americas, which total approximately five million square feet. She works closely with commercial real estate brokerage professionals, partners and clients and was a key contributor to the lease-up of approximately two million square feet of office space at 1271 Avenue of the Americas, which recently completed a $600 million repositioning program. In 2020, Stein was part of the team that secured Avra Estiatorio to approximately 17,000 s/f at 1271 Avenue of the Americas, which was the largest restaurant lease in Manhattan last year and recently recognized as the Real Estate Board of New York’s Most Ingenious Retail Deal of the Year. Stein joined Rockefeller Group in 2008 and has held positions of increasing authority in Leasing, Property Management and Design & Construction. She has been involved in more than 3.5 million square feet of new leases within Rockefeller Group’s portfolio, excluding renewals. She holds a bachelor’s degree from Rutgers University and a master’s degree from New York University’s Schack Institute of Real Estate. ••• Rubenstein Partners announced the appointment of Michael Happel and Joseph Zuber as the new leadership for its equity investing activities in New York and other major Northeast markets. Michael Happel has over 30 years of experience investing in real estate, including acquisitions of office, retail, multifamily, industrial, and hotel properties, as well as acquisitions of real estate companies and real estate debt. He is the former CEO of New York REIT, as well as CEO of New York City REIT. He has been responsible for over $3.5 billion of real estate acquisitions in New York City since 2009, when he formed and launched NYRT. Previously, Happel worked at Morgan Stanley and held leadership roles at Westbrook Partners and Atticus Capital. He received a B.A. in economics from Duke University in 1985 and a J.D. from Harvard Law School in 1988. Joe Zuber has over 30 years of real estate investment, development, asset management and restructuring experience. For the past 10 years, Zuber was the managing principal of Black Walnut Capital LLC. Earlier in his career, he was president and chief operating officer of O’Connor Capital Partners. He also served as chief investment officer of The City Investment Fund, LP, an investment manager established by Fisher Brothers and Morgan Stanley. He was also previously an executive director of MSREF. Zuber received an MBA from The Colgate Darden Graduate School of Business at the University of Virginia and a B.Arch. degree from Cornell University. ••• Conifer Realty announced the appointment of Roger Snell as its new chief executive officer. The announcement follows a recent investment in the company by Belveron Partners. From 2010 to 2021, Snell was the chief investment officer of Veritas Investments. Prior to this he was the CEO of two public REITs. He presently serves on the board of Veritas Investments and a member of the investment committee, as well as CIM Income NAV, a public REIT.Snell’s education includes an MBA from Harvard Business School and a B.S. degree from the University of California, Berkeley. He is a member of the National Multifamily Housing Council (NMHC), the Pension Real Estate Association (PREA) and the Urban Land Institute (ULI). ••• New York Law School (NYLS) Dean Anthony W. Crowell announced the appointment of Erin Felker Bond ’08 as the Associate Dean for Academic Planning and Career Development. A 2008 graduate of NYLS, she is the first alumna to hold this critical position. She received her B.A. from the University of Virginia. Most recently, Bond served as NYLS’s Assistant Dean of Academic Program Development, Director of the Office of Continuing Legal Education (CLE), and an adjunct professor with the School’s Center for Real Estate Studies (which she formerly served as Associate Director). As a member of the School’s senior administration, she has provided leadership in implementing the NYLS Strategic Plan and engaged external partners for many programmatic initiatives. Her leadership has resulted in NYLS’s consistent recognition by the New York Law Journal as a top CLE provider in the State. Since 2019, she has served on the Board of Directors of Services: for the UnderServed (S:US). She also served as 2014 President of the NYC real estate industry’s longest-running and most consistent supporter of women real estate professionals, CREW New York. ••• Silverstein Properties announced that Yael Ron has joined the firm as Head of Global Hospitality & General Manager of Residential Properties. A luxury hotel veteran with over 25 years of hospitality experience, Ron will be responsible for Silverstein’s hospitality and residential divisions. She will also oversee Inspire, Silverstein’s customer experience program. Ron most recently, she served as managing director of the Leading Hotels of the World (LHW) Fifth Avenue Hotel in New York. Prior to that, she was the General Manager of The Ritz-Carlton, San Francisco.She spent nearly a decade with The Ritz-Carlton company working in Cleveland as director of sales and marketing, Herzliya in Israel and Macau, China. Earlier, she worked at The Intercontinental Hotel in Tel Aviv, following a decade with Hilton Hotels. Ron holds a Bachelor of Arts degree in Hotel Management from Technion Israel & Nova University, Florida, and an MBA from City University of New York, Baruch College. She is fluent in several languages. ••• Silverstein Properties announced that Keith A. Cody has joined the company as Senior Vice President of Commercial Leasing. Cody joins Silverstein Properties from Empire State Realty Trust (ESRT) where he was Vice President of Leasing for seven years. Prior to ESRT, he served as a Senior Vice President at CBRE. During his 24-year tenure at ESRT and CBRE, Cody completed around 700 transactions in excess of 6.5 million RSF, and represented a wide range of tenants in multiple industries. Cody received a Bachelor of Science degree from the State University of New York at Binghamton. ••• Savills announced that Jessica Jeffrey joined the firm as an associate director in New York. Jeffrey brings more than 15 years of experience in real estate development, project and construction management, with expertise that spans the full capital project life cycle. She has completed more than 1.5 million square feet of projects, including both ground-up developments and conversions in Manhattan and Brooklyn. She has also managed office building, retail and public plaza projects and led a team of subcontractors on Major League Baseball’s Nationals Ballpark in Washington, DC. Before joining Savills, Jeffrey spent four years as a senior project executive with Anbau. She also spent 11 years working in the real estate development and construction industries as both a project manager and superintendent in multiple major metro areas. ••• Savills has welcomed Ryan Walsh as a corporate managing director. Walsh has 20 years of real estate transaction and portfolio management experience, having worked with leading global brands, such as Willis Towers Watson, Morgan Stanley, Pfizer, and Bank of America. Prior to joining the firm, Walsh worked at CBRE, where he served as a director of transaction management. He was responsible for developing enterprise portfolio strategy, opportunity assessments and transaction execution for global accounts. Before CBRE, he held positions at Cushman & Wakefield and JLL. ••• Mortgage industry veteran Rick Bechtel has joined Compass as President of Mortgage. In his new role, Bechtel oversees Compass’ presence within the mortgage industry, including the recently announced joint venture with Guaranteed Rate, OriginPoint. Prior to Compass, Bechtel was the executive vice president and head of U.S. Residential Lending at TD Bank. Additionally, he has held senior leadership roles with major mortgage industry leaders such as Chase, Wells Fargo, and CIBC. Bechtel holds a BBA from the University of Wisconsin and MBA from Northwestern University’s Kellogg Graduate School of Management. ••• Romer Debbas announced that Stacie Bryce Feldman has joined the firm as a partner with the Litigation Team. Feldman focuses on real estate litigation related to rent regulatory issues, due diligence, J-51 class action suits, commercial lease disputes, commercial contract disputes, Article 78 Proceedings, and complex landlord/tenant issues. Recently, Feldman provided comments on proposed legislation in the landlord tenant field pertaining to the impacts of COVID-19 prior to its enactment. A member of the bar of the state of New York and admitted to practice before the United States District Courts for the Southern and Eastern Districts, Feldman received a Juris Doctorate degree from Benjamin N. Cardozo School of Law. She completed her undergraduate degree at the State University of New York at Stonybrook where she was inducted into the Phi Beta Kappa Society. ••• Eastern Union has named Victoria Smith senior data specialist in the company’s newly launched Commission Data Broker Division. Smith, who joined the firm earlier this year as a summer intern, will play a central role in the management and training of Commission Data Brokers (CDB), a new professional job category introduced to the industry by Eastern Union. Smith, who will be based in Jacksonville, FL, previously served as a senior customer service advocate in the Jacksonville office of OptumRx, a pharmacy and healthcare services company. She holds a bachelor of science degree in data management and data analytics from Western Governors University in Salt Lake City. She also earned an associate of science degree in computer science from Gateway Community College in New Haven. ••• Blank Rome LLP announced that Matthew J. Crawford has joined the firm’s New York office as an associate in the Real Estate group,. Crawford joins Blank Rome from Meister Seelig & Fein where he worked in their Real Estate and Hospitality groups. He concentrates his practice on commercial leasing, representing both landlords and tenants. Crawford is admitted to practice in New York, Connecticut, Florida, and New Jersey. He earned his J.D. from Hofstra University School of Law and his B.A. Political Science and Geography, magna cum laude, from Villanova University. ••• The Praedium Group announced the addition of three new hires. Molly Steckler joined the client development team as an associate, JK Lee joined the investment team as an analyst, and Allyson Lisser joined the portfolio management team as an analyst. Molly Steckler is an associate on the marketing and client development team. She is also a member of the ESG Committee. Previously, she was a relationship manager in the Multifamily Agency Finance group at Capital One, N.A. Steckler received a B.A. in Public Policy with a concentration in Environmental Policy from Vanderbilt University. JK Lee is an analyst on the investment team. He previously worked in the Agency Loan group at Greystone & Co. Lee received a B.A. in Financial Economics from Columbia University. Allyson Lisser is an analyst on the portfolio management team. Prior to joining Praedium, Lisser was a real estate valuation associate at KPMG LLLP and holds her BBA in Real Estate and Urban Land Economics from the University of Wisconsin-Madison. ••• Madison International Realty has appointed Anisa Keith as director of Equity Capital Markets. Keith will report to Michael Chen, managing director and Head of Capital Markets who oversees ECM/investor relations. Prior to joining Madison, Keith was Head of Investor Relations at Basis Capital Investment Group. She is a graduate of Georgetown University and earned an MBA from Columbia University. The post WHO’S NEWS: Latest appointments & promotions appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyOct 11th, 2021

Related Companies’ New Hudson Yards Project Now Open

Related Companies has launched leasing for The Set, located in Hudson Yards at 455 10th Avenue with move-in beginning September 30, 2022. The 270-unit project is the first building of its kind blurring the line between a five-star hotel and luxury residential experience. Designed by Handel Architects with interiors by... The post Related Companies’ New Hudson Yards Project Now Open appeared first on Real Estate Weekly. Related Companies has launched leasing for The Set, located in Hudson Yards at 455 10th Avenue with move-in beginning September 30, 2022. The 270-unit project is the first building of its kind blurring the line between a five-star hotel and luxury residential experience. Designed by Handel Architects with interiors by MAWD, The Set caters to the hybrid workforce, offering a home or home-base, social club, and professional workspace with a food & beverage program overseen by renowned Chef Dan Kluger. The fully serviced and furnished turnkey residences feature studios, one-bedroom, and two-bedroom apartments priced from $5,200/month with 6-month and full year leases.   “Thoughtfully designed for work, play and everything in-between, The Set combines a world-class residential building, five-star hotel services, and private members club into a place residents can call home,” said Jeff T. Blau, CEO of Related Companies. “From the expertly furnished residences, sky-high office suite, resident-only restaurant, to the tailored programming and events, The Set will bring a renewed way of living to Manhattan’s West Side.”   FULLY-APPOINTED RESIDENCES  Offering a truly turnkey living experience, The Set’s fully furnished residences feature elevated materials, exquisite finishes and designer furnishings. Each residence has soaring nine-foot ceilings with breathtaking city views, floor-to-ceiling windows, European wide plank oak wood flooring and custom cabinetry. Residents have the opportunity to select from an array of designer furniture and accessory packages featuring art curated by the contemporary art gallery and marketplace Sugarlift. The Set’s category-defining fully-furnished and serviced residences have been thoughtfully designed for the evolving needs of its residents. Hotel-inspired services including weekly housekeeping, daily package and grocery delivery, laundry and dry-cleaning services, smart-home customization, room service, and more are all included in monthly leasing fees.  THE SET CLUB  The heart of the community is ‘The Set Club,’ a fully-serviced, resident-only social club soaring 500 feet in the air at the top of the building. The Set Club is dedicated to work and play and includes a private restaurant and bar by Chef Dan Kluger, rooftop pool and garden, expansive office spaces, ongoing programming, and more. The Set Club’s ‘Directors of Experience’ serve as a dedicated concierge, assisting residents with any special requests and overseeing private event planning in both the amenity spaces and individual residences.  Additional spaces within The Set’s three designated amenity floors include a demonstration kitchen and lounge space, private dining room, game room, screening room, terrace with barbeque pods and virtual reality room with golf simulator and VR games. A dedicated wellness floor includes a state-of-the-art gym and yoga and virtual fitness studio.  PROJECT DESIGN  The 44-story tower by Handel Architects utilizes glass, metal and terracotta to bridge the aesthetic of the surrounding neighborhoods on Manhattan’s West Side.  “We wanted the exterior expression to feel residential and inviting, but also have a timeless quality,” said Frank Fusaro, Partner of Handel Architects. “Terracotta was the perfect accent material since it provides that feeling of warmth. We used a bronze finish to visually connect the tower to the low-rise brick buildings nearby. Overall the building’s exterior expression is one of quiet sophistication in a busy New York City neighborhood.”  Curated by interior design firm MAWD, The Set’s interiors combine forward-thinking elements for experiential living. The use of innovative materials and grounding palettes in the project’s design creates a unique and modern sense of space informed by the MAWD’s previous experience designing members clubs across the globe.  “Recasting the pied-à-terre for a new era, The Set’s interiors have been programmed for each moment of the day, and a 24/7 lifestyle. Blurring the distinction between hotel and residential living, this ultra-service residence has been designed to mimic the warmth of home, with the magnetism of a destination,” said Elliot March, MAWD Co-Founder.  To inquire about leasing information, amenities, or residences, please call (888) 710-9962 or visit www.TheSetHY.com.    The post Related Companies’ New Hudson Yards Project Now Open appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyOct 1st, 2022

Lifestyle and Fitness Leader, Life Time to Reveal New Luxury Residences in Green Valley with Exclusive Concierge Team Focused on Resident Wellness

 Life Time (NYSE:LTH), the nation’s premier healthy lifestyle brand, is debuting its first luxury leased residences, Life Time Living, in Henderson, Nevada’s upscale Green Valley neighborhood. Located at 2460 E. Serene Ave. just north of I-215 off Green Valley Parkway, the striking new residential midrise tower shares a campus with Life Time... The post Lifestyle and Fitness Leader, Life Time to Reveal New Luxury Residences in Green Valley with Exclusive Concierge Team Focused on Resident Wellness appeared first on Real Estate Weekly.  Life Time (NYSE:LTH), the nation’s premier healthy lifestyle brand, is debuting its first luxury leased residences, Life Time Living, in Henderson, Nevada’s upscale Green Valley neighborhood. Located at 2460 E. Serene Ave. just north of I-215 off Green Valley Parkway, the striking new residential midrise tower shares a campus with Life Time Athletic Resort and Spa, creating a 16.5-acre village for residents and members. “Life Time Living was envisioned to foster a healthy, socially connected and environmentally conscious lifestyle with our new luxury residences and our athletic resorts and spas as part of one vibrant campus,” said Eric Padget, vice president, Property Development. “This lifestyle is made possible through what is now one Life Time community; a village that embraces the ethos of our brand to inspire a holistically healthy lifestyle.” The stunning seven-story residential midrise provides impeccably designed community spaces and residences, including 105 one-bedroom and 44 two-bedroom units ranging from 914 to 1,727 square feet. Prices start at $2,980 and residences come with full-access Signature memberships to the adjacent Life Time Green Valley – and all of Life Time’s more than 160 destinations across North America. Unique to Life Time Living is the innovative Resident Concierge programming, which connects residents’ at-home and in-club lifestyles to make healthy living easy and fun. The Concierge team assists residents with: Weekly meal prep from the LifeCafe, including meal deliveries to residences or Life Time Living’s refrigerated package room. Meals can even be tailored to meet individual Healthy Way of Life goals.Personal training session and group fitness or studio class bookings, as well as personal wake-up calls and reminders when requested.Securing appointments with Life Time’s nutrition coaches for grocery shopping with residents, plus Life Time’s chefs are available to cook for parties or for intimate dinners at home.Recommending and scheduling treatments with LifeSpa estheticians and massage therapists for personalized treatments and at-home consultations. Designed from top to bottom with the modern resident in mind, Life Time Living offers inspired community spaces for everything from working from home to hosting special events and lounging by the pool. In addition to the Resident Concierge programming, building highlights include: A grand staircase inside Life Time Living’s main entrance leads to 8,000-square feet of amenities and entertainment on the second floor.An enhanced work lounge featuring a coffee bar to offer the ultimate comforts.Reservable private dining room with a full catering kitchen and indoor and outdoor bar areas.Entertainment area furnished with leathercraft sofas and seating areas, along with games and entertainment including a pool table, oversized Scrabble game and shuffleboard. Inside the residences, full-length windows offer views of Green Valley’s rolling hills and welcome an abundance of natural light into every residence. Open floor plans offer spacious kitchens equipped with stainless steel appliances and custom soft-touch cabinetry and living rooms designed for optimal comfort. Bedrooms offer floor-to-ceiling windows with walk-in closets constructed with custom storage systems. State-of-the-art sound proofing and black-out shades ensure a comfortable environment for sleeping. Stunning bathrooms are designed with custom floating vanities with under-cabinet lighting, granite countertops, LED mirrors and seamless floor-to-ceiling porcelain tiles. And, dogs are treated like royalty with their own stylish spa for grooming and an outdoor obstacle course for playing.  Life Time Living residents will have full access to the adjacent 171,000-square-foot Life Time athletic country club experience complete with a pool deck, lap pools, waterslides, bistro, and tennis and pickleball courts outside and an entire wellness experience inside with studios for any type of class imaginable, indoor pools, tennis court, full-service spa and salon, fast-casual restaurant, Kids Academy, regulation-size basketball courts and more. Additional information, pricing and availability are available at Life Time Living’s website or by calling (702) 805-2208.  The post Lifestyle and Fitness Leader, Life Time to Reveal New Luxury Residences in Green Valley with Exclusive Concierge Team Focused on Resident Wellness appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklySep 29th, 2022

Cymbal DLT Closes on $17.5 Million Loan for Midtown Miami Project

Today, Miami-based development and construction firm Cymbal DLT Companies closed on a $17.5 million loan from New Wave Loans to recapitalize its development of an eight-story, 203-unit multifamily residential project at 3452-3470 North Miami Avenue in Midtown. The 1.5-acre site, currently the headquarters for Cymbal DLT, is centrally located just... The post Cymbal DLT Closes on $17.5 Million Loan for Midtown Miami Project appeared first on Real Estate Weekly. Today, Miami-based development and construction firm Cymbal DLT Companies closed on a $17.5 million loan from New Wave Loans to recapitalize its development of an eight-story, 203-unit multifamily residential project at 3452-3470 North Miami Avenue in Midtown. The 1.5-acre site, currently the headquarters for Cymbal DLT, is centrally located just blocks from the Miami Design District and Wynwood. The refinance allows Cymbal DLT to buy out its partner, take over the project, and make the project shovel-ready. Cymbal DLT has enlisted world-renowned architect Enrique Norten, founder and principal of the internationally acclaimed Mexican architecture firm Ten Arquitectos, to design the new project. Cymbal has worked with Norten for over a decade, most recently completing an architecturally significant mixed-use project in the Miami Design District.  “Our goal is to make high design attainable to renters,” said Asi Cymbal, Chairman of Cymbal DLT Companies. “Typically, you would experience this level of design from a high-end condominium project or an art museum.  We want to bring this same level of quality and design to a rental community.” Although details for the new 350,000-square-foot market-rate property are still in their early stages, Cymbal says to expect the same unique blend of world-class design, art, wellness, technology, and sustainability that it infuses into all of their developments. For example, the project will consist of state-of-the-art features such as hands-free access to units, noise attenuation elements, and air purification, sterilization and ionization systems that are 99% effective against COVID. Other amenities include a rooftop pool and bar and plenty of green spaces. The ground floor will feature multiple retail spaces, many of which will be occupied by the same tenants that currently lease space on the property. In fact, the new property will be strategically built around current tenant The Sylvester, a popular neighborhood cocktail bar from the owners of Wynwood hot spot Beaker & Gray. Other retailers that will remain on-site include Saccaro, a high-end Brazilian furniture company (a tenant for over 10 years); Dāek Thai Eatery, a popular Asian restaurant; and a ghost kitchen location for REEF Neighborhood Kitchens. In keeping with Cymbal DLT’s commitment to art and artists, the Midtown project will also have an artist-in-residence program, inviting up-and-coming creatives from all professional backgrounds, demographics, career stages and artistic styles to live and work for free. The program will be similar to the artist-in-residence program at Oasis Pointe Residences, Cymbal DLT’s 2.4-acre, 301-unit apartment complex in Dania Beach that welcomed its first residents this month. The program’s first artist, Lesia Khomenko, is a Ukrainian author of paintings, installations, performances and videos; thanks to the program, Khomenko was able to move to the U.S. with her daughter to fulfill a full-time residency at Oasis Pointe. The Midtown project, slated to break ground in late 2023, is just one of Cymbal DLT’s more than $2 billion worth of projects currently in the pipeline – a number that Cymbal plans to triple by the end of next year. It also marks the first time that Cymbal DLT will demolish a building it recently built to pave the way for an all-new project.  When complete, Cymbal DLT will have a satellite office at the Midtown location. It plans to move its permanent headquarters to its new $1 billion waterfront district in Downtown Fort Lauderdale, the aptly named Riverwalk Raintree Residences, scheduled to open by 2025. In the meantime, an interim headquarters will be set up at Oasis Pointe. For more information, visit cymbaldlt.com. The post Cymbal DLT Closes on $17.5 Million Loan for Midtown Miami Project appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklySep 24th, 2022

3 ACRES COMPLETES LEASING PROGRAM ON JERSEY CITY’S WEST SIDE

3 Acres, the upscale new rental building on Jersey City’s fast emerging West Side, has completed its leasing program. Developer 400 Claremont, LLC, along with The Marketing Directors, the building’s exclusive marketing and leasing agent, executed the final lease at the 629-home community in July — less than six months... The post 3 ACRES COMPLETES LEASING PROGRAM ON JERSEY CITY’S WEST SIDE appeared first on Real Estate Weekly. 3 Acres, the upscale new rental building on Jersey City’s fast emerging West Side, has completed its leasing program. Developer 400 Claremont, LLC, along with The Marketing Directors, the building’s exclusive marketing and leasing agent, executed the final lease at the 629-home community in July — less than six months after opening to the public.   The impressive rental velocity is unprecedented in the burgeoning West Side section of Jersey City which is attracting significant private investment along with infrastructure improvements that are spurring a wave of new modern developments.   The noteworthy success of 3 Acres can be attributed to a mix of well-appointed studio, one- and two-bedroom residences, abundant amenities, and dynamic retail that create an elevated lifestyle experience once exclusive to select downtown Jersey City and Manhattan high-rise rentals. “When we conceptualized 3 Acres, we envisioned a community that provided a hospitality-inspired lifestyle experience that rivaled signature properties along the New Jersey waterfront and in New York City, but at a much more attractive price point,” said Art Johnson, a principal of 400 Claremont, LLC.  “Fully leasing the building in such a short amount of time underscores the appeal of the building and the ongoing growth of the West Side as a new residential destination.” 400 Claremont, LLC worked with its long-time interior design partner Andrew J. Van Etten, along with Marchetto Higgins Stieve Architects, to enhance and deliver its vision for 3 Acres.  Working off plans that presented voluminous common space throughout the two-block wide building, Van Ettan went to work on devising an interior design plan that would creatively divide the space into distinct areas for lounging, recreation, work areas and other uses that were comfortable and inviting. “We wanted to create a series of niche spaces, from intimate work-from-home cubicles to open lounges, that would take advantage of the vast amount of square footage while avoiding a sense of being in a banquet hall,” said Andrew Van Etten.  “We drew from hospitality concepts to provide areas for a mix of activities and atmospheres punctuated by interesting architectural details and finishes.” Spread throughout 70,000 square feet, the impressive amenity offering and social spaces include an attended lobby with a waterfall, conference room, work pods, a chef’s table with demonstration kitchen, multi-sport simulator and screening room, resident lounge with a 2,200-gallon saltwater aquarium, and a game room with a mini bowling alley, ping pong, shuffleboard, pinball and arcade games. There’s also a state-of-the-art fitness center and infrared saunas,  while on-site musical entertainment emanates from a Steinway Spirio digital grand piano in one of the lounge spaces that self-plays pieces from a vast library of musical content, as well as simulcasts live performances from great pianists around the world. Extensive outdoor space is highlighted by a rooftop terrace with BBQs, dining areas, community garden, and a dog run, and three distinctive outdoor courtyards feature a pool and sundeck with jacuzzi, cabanas, and loungers, zen garden, outdoor Yoga, bocce, chess, and ping pong. The development and design team incorporated industrial elements to embrace the character of the neighborhood, including polished concrete and brick and metal work throughout the common areas that are balanced by vinyl plank flooring with a hardwood appearance to create a balanced, warm aesthetic.  Exposed ceilings accent the building’s onsite Three Thirds Café coffee shop and Table at 3 Acres restaurant. “This developer is all about creating a wow factor, but also understands design and the need to provide spaces that are inviting and functional,” said Van Etten.  “It’s a collaborative, creative effort that is fluid throughout the process to deliver the best possible results.” For more information on 3 Acres, please call 201-733-3000 or visit www.3AcresJC.com.  The building is located at 400 Claremont Avenue, Jersey City, NJ 07304 The post 3 ACRES COMPLETES LEASING PROGRAM ON JERSEY CITY’S WEST SIDE appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklySep 7th, 2022

CBRE Appointed Exclusive Leasing Agent at The Commodore in Easton, PA

CBRE announced today it has been appointed the exclusive leasing agent at The Commodore, a 74,000 sq. ft. mixed-use facility consisting of 32-luxury apartments andprime office and retail space. The building, being developed by Optima Durant Group, is located at 100 Northampton Street in Easton PA. CBRE’s Jody King and... The post CBRE Appointed Exclusive Leasing Agent at The Commodore in Easton, PA appeared first on Real Estate Weekly. CBRE announced today it has been appointed the exclusive leasing agent at The Commodore, a 74,000 sq. ft. mixed-use facility consisting of 32-luxury apartments andprime office and retail space. The building, being developed by Optima Durant Group, is located at 100 Northampton Street in Easton PA. CBRE’s Jody King and Pamela Hall will handle the leasing for the 14,000 sq. ft. of office space as well as 1,900 sq. ft. of prime retail space. “The Commodore is located along the historic Delaware River, one of the Northeast region’s most cherished waterways,” said King. “In addition to the office and retail space, the property will also include an 8,000 sq. ft. rooftop restaurant, tenant gym and other additional amenities. The Commodore will truly be a historic building for the Lehigh Valley that will operate as a complete lifestyle ecosystem.” “The Commodore development represents a defining period of remarkable revitalization that has taken place in the City of Easton,” added Garett Vassel, Founding President of Optima Durant Group. “Due to this undeniable success and the building’s gateway location, the property has taken on an iconic responsibility for the community. For more than four years, there have been so many incredible partners that have helped make this project occur and as a result, commercial tenants, residential tenants, and the greater community will benefit from meaningful, one-of-a-kind spaces at The Commodore.”   Construction is wrapping up at the seven-story property and tenants are expected to move in January 2023. It was recently announced that the owners of Zest and Grille 3501 restaurants will bring a new concept to the rooftop restaurant. The post CBRE Appointed Exclusive Leasing Agent at The Commodore in Easton, PA appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyAug 30th, 2022

Douglaston Development Announces Launch of Leasing at 3Eleven in West Chelsea

Douglaston Development today announced the launch of leasing at 3Eleven, a highly amenitized, 60-story, 938-unit, mixed-income residential property with over 60,000 square feet of state-of-the-art indoor and outdoor amenity offerings located at 311 Eleventh Avenue in the heart of Manhattan’s West Chelsea neighborhood. Situated on a prime corner of West Chelsea adjacent to... The post Douglaston Development Announces Launch of Leasing at 3Eleven in West Chelsea appeared first on Real Estate Weekly. Douglaston Development today announced the launch of leasing at 3Eleven, a highly amenitized, 60-story, 938-unit, mixed-income residential property with over 60,000 square feet of state-of-the-art indoor and outdoor amenity offerings located at 311 Eleventh Avenue in the heart of Manhattan’s West Chelsea neighborhood. Situated on a prime corner of West Chelsea adjacent to both Hudson Yards and Hudson River Park, 3Eleven is comprised of 938 residences ranging in size from studio to two-bedroom apartments, including 703 market-rate and 235 affordable units with an additional 15,000 square feet of retail space. “We’re excited to launch leasing efforts at 3Eleven as our vision for the transformative project is nearly complete,” said Jeffrey E. Levine, Founder and Chairman of Douglaston Development. “Following our success with The Ohm located just across the street from the property, we’re grateful to be expanding our footprint in West Chelsea and look forward to welcoming future residents to their new home at 3Eleven in the fall.” 3Eleven’s residence offerings include in-unit washers and dryers, wide-plank white oak flooring, stainless steel kitchen appliances, custom lighting fixtures, Caesarstone waterfall countertops and solar shades for every window. In addition, the building offers residents over 60,000 square feet of indoor and outdoor amenity spaces that include a variety of resident lounges, co-working spaces, a fully equipped gym with accompanying fitness studios, an outdoor pool, multiple roof decks, a children’s playroom, music studios, indoor and outdoor dog runs, an on-site parking garage and resident bike storage capabilities. The lobby and amenity spaces feature a collection of contemporary works from emerging local artists through a partnership with Uprise Art, a contemporary art gallery that provides tailored art experiences to fit the aesthetic of a space where one lives and works. Additionally, through an on-site partnership with full-service pet care company, Throw Me A Bone, residents will have access to veterinary, grooming, pet walking and pet boarding services right at home. “Creating 3Eleven has been a true labor of love, from inception years ago to its fruition today. We overcame countless challenges along the way, including initial site rezoning and even a global pandemic, but each milestone reached exemplifies the grit and triumph of our team,” said Steven Charno, President of Douglaston Development. “We are fortunate to have worked alongside extraordinary partners, including the Ares Management Real Estate team and architect FXCollaborative to bring this project to life.” “Ares is proud to be a part of the dynamic team that brought 3ELEVEN to life,” said Andrew Holm, Partner and Co-Head of U.S. Investments in Ares Real Estate. “We are looking forward to continuing to invest in high-growth submarkets across the country and excited to continue to partner with high-quality sponsors like Douglaston Development.” 3Eleven is located in the heart of the West Chelsea neighborhood of Manhattan, providing close access to iconic New York City locations including The High Line, Hudson Yards and the Hudson River Greenway as well as a variety of restaurant, art gallery and shopping offerings. The building is accessible via public transportation using the 7 subway line at 34th Street – Hudson Yards, as well as multiple bus routes. Move-ins will commence at 3Eleven in the fall of 2022. For more information on the property, current availabilities, and to apply, please visit www.3elevennyc.com. The post Douglaston Development Announces Launch of Leasing at 3Eleven in West Chelsea appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyAug 22nd, 2022

Afghanistan"s former presidential spokeswoman is adjusting to life in the United States. But the heartbreak of her country"s collapse — and her own escape — haunts her a year later.

Durani Jawed Waziri never imagined she'd be forced to flee Afghanistan. She longs for a future back home. Durani Jawed Waziri, the former spokeswoman to President Ashraf Ghani, at her apartment in Alexandria, Virginia.Oma Seddiq/Insider Durani Jawed Waziri, the former spokeswoman to former Afghan President Ashraf Ghani, escaped Kabul a year ago. She has resettled in the United States. But she thinks daily of Afghanistan and its government's collapse. "I never thought that one day we will lose everything," Waziri said. ALEXANDRIA, Virginia — Afghanistan's presidential palace was strangely quiet. As Durani Jawed Waziri walked down the long hallway to her government office, she found herself alone.One by one, she swung open her colleagues' doors. They were empty.Panic gripped her. Her eyes swelled with tears.It was the morning of August 15, 2021. By day's end, Taliban insurgents would celebrate inside the palace as they captured Kabul, the capital, and overthrew Afghanistan's elected government.Waziri knew the Taliban had been mobilizing since President Joe Biden announced the withdrawal of US troops that spring. She had been receiving death threats for months as a high-ranking public official, recently promoted to be a top aide to Afghanistan's national security advisor after serving for three years as a spokeswoman to President Ashraf Ghani. Taliban forces killed one of her colleagues on August 6 – the same day they seized Zaranj, the first of many provincial capitals to fall. Intelligence officials kept warning Waziri to "be careful."Still, going to work that Sunday, Waziri never imagined her country would crumble so quickly, so abruptly."I would leave Afghanistan in advance if I knew," Waziri said. "But no one knew."A year has passed. Waziri was one of more than 85,000 Afghans who fled for the United States. But as she adjusts to life in Northern Virginia, Waziri is haunted by her government's collapse and the harrowing escape she had made from her home country."It was very difficult for me to believe it," the 36-year-old recounted thinking as she left the presidential palace for the last time and watched Kabul spiral into chaos. "Can you believe the whole city – the whole city – was running on the streets?"The Taliban has since deepened divisions in Afghanistan and eroded human rights, mainly for women and girls. Sanctions have isolated the country from the rest of the world, destroying its economy and triggering widespread hunger. Tens of thousands of Afghans who had allied with the United States and promoted democracy remain stuck in a country now ruled with theocratic intolerance.Waziri says the United States, which first struck the Taliban and Afghanistan-based al Qaeda militants in 2001 after the 9/11 attacks, only to wage a war of oscillating intensity there for the next 20 years, has a moral obligation to help the Afghan people. Their continued suffering serves as a reminder of work left undone."Afghanistan is the heart of Asia," Waziri said from her one-bedroom apartment just across the Potomac River from Washington, DC. "If there is peace, all this region will be in peace. But if it's like this, all the region will be sick."As for Waziri, she aches for the day when she can return home and continue serving her country – even if she has no idea when that day will come.Waziri, far right, attends a meeting with then-President Ashraf Ghani, center, in 2019.Courtesy of Durani Jawed WaziriHer escapeChinar trees cover the presidential palace's grounds. In the winter, fresh snowfall coats their branches, illuminated by the morning sun. Waziri recalled gazing at their beauty through her car window as she rode to her office building, determined to improve her country.She became President Ashraf Ghani's spokesperson in March 2018. Armed conflicts among ISIS-K, the Taliban, and US and Afghan forces had been escalating at the time. Then-US President Donald Trump had deployed more troops to the country.Waziri was responsible for ensuring that public messaging aligned with the president's politics. She drafted notes during Ghani's meetings, signed off on press releases, and traveled with him across the country. Work days frequently extended late into evenings. The high-profile role, particularly as a woman, put a target on her back. "All people will not like you," she said.Though Waziri wasn't intimidated. An attorney by training, she had grown used to working in high-pressure, male-dominated environments. Her decade-long career featured stints in law firms, Afghanistan's Ministry of Justice, and the US-based embassy. She studied Islamic law at Kabul University and received her master's of law on a scholarship at Ohio Northern University. Under Ghani's administration, Waziri championed rule of law, good governance, and women's rights – values she believed would better a country plagued by corruption. "I was very hopeful for Afghanistan," she told me. "I never thought that one day we will lose everything."But that day came on August 15. Fearing for her life, Waziri refused to sleep at her house once the Taliban sacked Kabul, seized governmental phone lists, and cut off her line. She stayed with her in-laws as she planned her getaway. There was no opportunity, nor time, for goodbyes with colleagues, friends, family members. On August 18, Waziri, her husband, and 16-year-old stepson left for Kabul International Airport with one purse, two duffle bags and a 15-pound carry-on with their utmost essentials – her university degrees, a couple of outfits. They joined thousands of Afghans in a desperate scramble to flee the country.The mayhem forced Waziri and her family to leave the bulk of their belongings behind as they shoved through the crowd to board a US military aircraft out. Waziri took their passports and her wedding album in her purse, and nothing else.American air bases in Qatar and Germany became Waziri's immediate places of refuge. She described awful living conditions there: the restroom line took three hours in Al Udeid, her daily meal consisted of one egg and one potato in Ramstein. After a week, she finally flew to the United States. In those first few months, Waziri felt numb to her new reality, more than 7,000 miles away from home. The daily things that had brought her joy no longer did."I'm a very good cook. I like cooking," Waziri said. "I didn't want to go to the kitchen even. I didn't want to clean it. I had a different feeling. I was thinking that I'm in a hotel, maybe for a few days and a few nights, then I will be back, you know?"Waziri resettled in Virginia after escaping Kabul with her husband and son.Oma Seddiq/InsiderA moral obligationOn Waziri's forearm, there is a tiny spatter of scars. They formed when an Afghan woman had recognized Waziri at the air base in Germany and dug her nails into Waziri's skin, claiming she was part of the reason Afghanistan collapsed. To Waziri, every party is to blame for Afghanistan's unraveling. Warlords, empowered by the US mission in Afghanistan, pocketed millions of dollars and soiled the government with corruption. Trump's February 2020 deal with the Taliban to withdraw US troops emboldened the extremist group. Biden, despite warnings from his own national security and military officials about the likelihood of a Taliban takeover, carried out his predecessor's plan. The trillion-dollar war, which the US started to oust the Taliban from power, ended with the Taliban ruling again."The Taliban didn't come to Kabul or took over Kabul by force," Waziri said. "It was us – that we failed in our governance."Under its regime, hard-earned freedoms have vanished: the Taliban has banned secondary- and college-aged girls and women from attending school and restricted women's dress, travel, and work. Media and speech are suppressed. A few countries – including Russia, China, and Pakistan – have established some level of relations with the Taliban, but none have recognized it as Afghanistan's legitimate government. The international sanctions, coupled with the Taliban's policies, have left Afghanistan on the brink of universal poverty."What about the people of Afghanistan? What about those 40 million people of Afghanistan?" Waziri pressed.Some money is still flowing into the country. The US has provided more than $770 million in humanitarian relief to Afghanistan during the past year, yet aid groups have stressed that emergency assistance alone won't fix the country's battered economy. Cash-flow shortages have disrupted the banking sector and prevented Afghans from earning salaries, paying for groceries, and returning to anything that resembles ordinary life. To help tackle the crisis, Waziri said it's crucial for the Biden administration to release $7 billion in Afghan reserve funds that the United States has frozen — and pump it back into Afghanistan. In talks with the Taliban about these assets, the US "remains focused on finding a way for the funds to benefit the Afghan people, while not benefitting the Taliban," a National Security Council spokesperson told Insider.Waziri agreed: "There should be a mechanism that the money should not go just to the pockets of the Taliban. It should be used by the Afghan people and there should be accountability."Beyond that, Waziri called on the Biden administration to further pressure the Taliban to respect human rights and support a peace process, for the sake of the Afghan people. And the US must work to evacuate the thousands of Afghan allies still trapped in the country, she said."Stand on your promise," Waziri said of the US government. "You have to support us."Waziri scrolls through old pictures on her phone, stopping at one of her with her four sisters.Oma Seddiq/InsiderHopes to returnTo distract from the anguish, Waziri has thrown herself into what she knows best: work.She has spent the past year mostly behind her laptop, researching and writing about Afghanistan, its government, and its politics. An academic paper she's currently writing discusses the Afghan government's failure to implement transitional justice, which she will present at a conference in Germany this October."I want to not forget what we have done in the past. I want to be a part of the history of my country. I want to contribute to the history of my country," Waziri told me.In the coming weeks, Waziri will become a visiting researcher at Georgetown University in Washington, DC. Next spring, she will teach a class there on the role of women in international security sectors. She also wants to make time to study for the bar exam to eventually practice law here.Waziri's husband, formerly a pediatric surgeon in Kabul, is working as a fellow at a hospital in Washington, DC. Her son just started 10th grade after finishing the last school year among the top in his class. They often see relatives in Maryland, who moved there from Afghanistan five years ago.But as Waziri rebuilds her life, Afghanistan weighs heavy on her heart.Now when she cooks, "sometimes I'm burning my hands or I'm breaking the dishes because, I'm just like, my mind is busy with Afghanistan," Waziri said.Waziri longs for qurooti, the bread pudding served at the café near her Kabul home; those Friday nights lounging in her family's living room, surrounded by her six younger siblings; Turkish breakfast at the restaurant where she first met her husband and he later proposed to her. She yearns to visit the cemetery where her parents and sister lay after she lost them in rapid succession these past two years. Her father and mother died of heart problems, her sister of COVID-19.Hope keeps Waziri going. She's glued to the news, following each development from Afghanistan. For all the tragedy, she dreams of a future there. Too many of those dreams – building a school for girls in her home province, Paktika, opening an institute in Kabul to support female lawyers – have not yet come true."One day, we will be back. We will continue from the place that we fell down," Waziri said. "We will rise again."Read the original article on Business Insider.....»»

Category: worldSource: nytAug 21st, 2022

Montgomery Street Partners Utilizes 99-Year Ground Lease Structure to Acquire, Facilitate Planned Residential Conversion of the Hudson Hotel in Columbus Circle, Manhattan

Montgomery Street Partners (“MSP”), a diversified commercial real estate investment firm has formed The Ground Lease REIT (“GLR” or the “REIT”) a dedicated vehicle focused on the origination and acquisition of long-term, unsubordinated ground leases. The REIT announced that it has acquired and simultaneously leased the Hudson Hotel under a... The post Montgomery Street Partners Utilizes 99-Year Ground Lease Structure to Acquire, Facilitate Planned Residential Conversion of the Hudson Hotel in Columbus Circle, Manhattan appeared first on Real Estate Weekly. Montgomery Street Partners (“MSP”), a diversified commercial real estate investment firm has formed The Ground Lease REIT (“GLR” or the “REIT”) a dedicated vehicle focused on the origination and acquisition of long-term, unsubordinated ground leases. The REIT announced that it has acquired and simultaneously leased the Hudson Hotel under a 99-year ground lease to an undisclosed ground tenant. The Hudson Hotel is a 90-year-old property that most recently was converted into a hotel by Ian Schrager. The undisclosed tenant initially entered into contract to purchase the property from Cain International for $207 million; it then assigned the contract to GLR, which completed the sale and simultaneously leased it to the undisclosed tenant, which will redevelop the property into a luxury apartment building. Parkview Financial provided $207 million in the form of leasehold construction financing to facilitate the conversion. The REIT was advised by Danielle Ash, Morgan Stevens and Jenna Imbrogno of Duval & Stachenfeld on the acquisition and ground lease. “With apartment vacancies in New York near zero and rents at unprecedented levels, the developer recognized the highest and best use for the property was residential rental product that would help address the market’s supply-demand imbalance in the Columbus Circle submarket,” said Max Nipon, SVP at MSP. “Our tenant partner utilized our ground lease capital and paired it with leasehold financing to gain control of the asset and reposition it. We are very excited to partner with them as they have an exceptional track record and have engaged a best-in-class team to realize the business plan.”   Initially constructed in 1929, the 24-story building was an iconic hotel in Midtown Manhattan. With construction slated to begin soon, the property will be converted to a Class-A rental property featuring a best-in-class amenity package and 438 studio, one-, two- and three-bedroom units with high-end finishes and 8 to 10-foot ceilings. “Beyond all the nuances of the ground lease structure and associated tax issues, the deal also had various legal complexities associated with the hotel-to-apartment conversion. Working closely with our client under a quick 60-day timeline, we were able to navigate these challenges and make each party comfortable with moving forward with the deal,” said Ash. Nipon added: “Our ground lease paired with leasehold financing provides our tenant partners with a compelling execution at a lower blended cost of capital.” The post Montgomery Street Partners Utilizes 99-Year Ground Lease Structure to Acquire, Facilitate Planned Residential Conversion of the Hudson Hotel in Columbus Circle, Manhattan appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyJul 31st, 2022

I"m a longtime New Yorker who moved to LA — and it was the best decision ever. Here"s how I made friends, lowered my cost of living, and found happiness.

Daniel Zahler says the stress of New York City began to wear on him. So he took a chance and moved across the country to find fulfillment in LA. Daniel Zahler realized New York didn't work for him anymore — so he left.Daniel Zahler Daniel Zahler is a Harvard-trained healthcare consultant who previously worked at Goldman Sachs and McKinsey. He moved to LA for a better quality of life after spending 12 years in New York City. Zahler struggled to find a community in the past and says it's easier to make friends in LA. When I told people I was moving from New York City to LA, these were the common reactions:Why — what's in LA?Did you join a cult?Are you gonna start putting avocado on everything?The short answer for why I decided to pack up and move across the country: I can live near the beach and work from anywhere. I work as an independent consultant, advising companies in healthcare, life sciences and medical technology. I didn't have a job tying me to New York. I finally made the move to LA in 2017.I had a realization. What I want out of a city is changing. New York doesn't work for me anymore. LA does.I got the full New York City experienceI lived in Manhattan for 12 years. I experienced the highs and lows of New York life, from 100-hour weeks at Goldman Sachs to all-day picnics in Central Park.As time went by, the stress of the city began to wear on me. I felt like the city was taking more out of me than I was getting from it. When I visited friends in LA, I noticed how much calmer I was. For me, New York was like a long-term relationship I'd stayed in too long. It was comfortable and familiar. I knew every inch of it. There was always something fun going on. I was addicted to the city's energy.Yet it wasn't fulfilling me. The crowded streets and honking taxis that once seemed enchanting now felt like an assault on the senses. I wasn't doing enough deep work. Nights out seemed repetitive and predictable. The sense of wonder I'd felt as a newcomer was gone.In 2015, I decided to sublet my West Village pad and spend the winter in Santa Monica. I had a blast. I went to beach yoga, did sunrise hikes, and sound bath meditations. I befriended my Airbnb hosts. They introduced me to their friends. LA went from being an attractive fantasy to a place where I could actually settle down and make a new home. Living in LA hasn't had a negative impact on my finances. Santa Monica is one of the priciest areas of California, but it's still cheaper than Manhattan. I was paying $4,000 a month for a tiny one-bedroom apartment in the West Village. Today I'm paying $3,000 a month for a spacious apartment in the heart of Santa Monica with amazing views of mountains and palm trees. There are three big misconceptions about LA1. You're always stuck in traffic.Yes, traffic is a problem in LA. But you can avoid it. And owning a car has become optional. Seriously!Uber has been a game changer. You can hop in a car and go anywhere you want. It's convenient and cheap ($20 gets you from Venice to West Hollywood).It's never been easier to get around LA. Don't let the traffic scare you.2. There's no good pizza.LA has become a great food city. New Yorkers, I'm here to tell you: You can get some amazing pizza in LA. Anyone who's been to Gjelina knows it. There's a Joe's Pizza by the Santa Monica Pier serving up a good replica of the New York original.LA is undergoing a food renaissance. It's easy to see why. Produce is fresher. Leases are cheaper. It's easier to try new restaurant concepts.Chefs today are calling LA "the best food city in America."3. Everyone there is shallow and vapid.LA is not just for people in "the industry." Yes, there are lots of Hollywood types. Fame is the town's chief currency. Throw a rock on Sunset and you'll hit at least one aspiring actor fresh off the bus from Iowa.Then there's the other LA. Spend time in Westwood, Silver Lake, Santa Monica. You'll meet designers, scientists, entrepreneurs. People who are ambitious and intent on changing the world.I've found that LA is a city of newcomers and outsiders. People in LA are more open-minded and adventurous. There's a sense that anyone you meet could be a future collaborator on a film, art project or startup. Rather than ask where you work, people in LA are more likely to ask: What are you working on?There's a real startup ecosystem blossoming in SoCal. Tech companies like SpaceX, Snap and Activision got started here. Silicon Valley heavyweights like Google, Tesla, and Netflix have major locations in SoCal. Top venture capital investors are moving to LA to support the next generation of high-growth tech companies. It's an exciting place to be.It's easier to make friends in LAI knew maybe 10 people in LA when I moved here a few years ago. Fast forward to today – I've hosted dinners for hundreds of people. I've been invited to speak at events all over the city.I made more friends in one year than I did in 10 years living in Manhattan.How did I do this? Isn't LA supposed to be a place where it's hard to make friends? A city where people worship at the altar of fame and social media but struggle to make real human connection?LA is not the easiest city to adjust to. The city can seem like a sprawling tangle of highways and strip malls. New York City is like a river, beating you relentlessly downstream. You need to be a strong swimmer to keep your head above water.LA is more like a lake. If you don't have a paddle, you can find yourself drifting aimlessly for months or years. It can be hard to find communities and plant roots. You need to go out of your way to hang out with people, build community and make friends.I made an effort to strike up conversations with people in my building. At Whole Foods. Soho House, Equinox, WeWork.I found it was easy to meet people simply by smiling and saying, "Hi! I'm Daniel. I just moved here from New York."They'd typically reply in one of 3 ways:"Oh really, why'd you move?""How do you like LA?""Cool, I used to live in New York, too!"Each week I discovered new communities:Mountain Gate, a monthly speaker series and dinner party with young professionals. Trybe, a group that organizes Shabbat dinners at gorgeous homes around LA. Summit, a group that organizes health and wellness retreats at beautiful Powder Mountain in Eden, Utah. REALITY Israel, a tech fellowship run by a global community of change-makers dedicated to tikkun olam, repairing the world.The best communities help you venture outside your comfort zone and experience something new. There's a sense of adventure. An element of unpredictability.A good community challenges you. It makes you feel you're part of something bigger than yourself, a greater cause. It gives you a sense of meaning and purpose.In LA, you can create your own small-town vibeFinding and participating in these communities has nourished me, sustained me, and inspired me. These communities have made me feel at home in LA.Living in NYC, I often struggled to find community. People were always scurrying between work and family obligations, power lunches and first dates. I met new people but didn't often form the close, intimate relationships of my college years.The key ingredient for the formation of friendships is repeated spontaneous contact. That's why we make friends in school — because we're forced into regular contact with the same people. It is the natural soil out of which friendship grows.I found one of the keys to LA survival is creating your own small-town vibe within the big city. Find a small community where you run into familiar faces.I run into friends every week in Palisades Park, or at the Santa Monica Farmers Market, aka the happiest place on Earth.It's nice to live in an extended community, to have people to rely on beyond family. It's nice to have bustling shared spaces where you can run into people you know without planning it beforehand.Seeking out former New Yorkers helped me build communityIn the summer of 2020 I created a group called "NYC in LA." I noticed how many New Yorkers were relocating to Southern California during the pandemic. I wanted to find a way to bring together New York expats and provide mutual support. So I made a group on WhatsApp and Facebook.The group has grown to over 500 people in the past two years. It's been an incredible source of community. Everyday people share events, local recommendations, and apartment listings. New friendships have been forged. We were even featured in The New York Times in April.We've started hosting NYC in LA meetups that regularly attract 50-60 people. We created a housing group for short-term sublets. We crowdsourced an "LA Cool List" – a collection of recommendations for local activities, hikes, date spots, coworking spots, workout studios, running and cycling groups.There's something special about bringing together New Yorkers in Southern California. New Yorkers are a distinct subculture. We all went through the same struggles: Finding an apartment, navigating the subway, dealing with the intensity of NYC life. It's like running into someone who attended the same college. You have stuff in common. There's a shared background.In a way, it's ironic that I moved all the way across the country to end up hanging out with a bunch of New Yorkers. But I love it. Combining the people of New York with the weather and lifestyle of Southern California – for me, it's the best of both worlds.I've met dozens of people through NYC in LA. Nothing makes me happier than introducing LA newcomers to new friends, giving them tips and helping them settle in. I know how hard it is to feel at home in a new city. I've been there.One member told me: "I'm incredibly grateful for this group. Virtually all the people I've met and bonded with in LA have stemmed from NYC in LA!"There's still no place like New YorkPeople always ask me which city I prefer, New York or LA. It's an impossible question. The two cities are so different. The short answer is that NYC has the most amazing people, and LA has the best quality of life – sunny skies 300 days a year, beautiful parks and the beach and great hiking spots. Stress levels are lower. Everything is just easier.Summers in Santa Monica are amazing: there are beach gatherings and outdoor concerts. In the winters, the weather rarely drops below 50. The ocean is cold, but the sunsets are still incredible. You can go to the beach in December and have picnics in February.I used to be one of those New York snobs who looked down on LA. I'll always be a New Yorker at heart, but I've grown to love LA, too.I travel to New York 4 or 5 times a year. I love NYC in September, when the weather is great and people are back from their summer getaways. October in the city is gorgeous — the leaves are changing and you feel the magic of autumn in the city. Springtime is great, too: I spend as much time in New York as I can in May and June.New York City is unrivaled in its energy and diversity and is the major league of cities — truly world-class. The best restaurants, bars, culture and nightlife are all there. I love its vibrancy and its unplanned serendipity. You never know where the night will take you.But you also need to have something going for you to make it there. It's not an easy place to live. The people you meet are exceptional – brilliant, attractive, ambitious professionals from around the world who inspire you to achieve more.Living in New York was like graduate school for me. I learned a lot about the world and about myself. Living in the city toughened me up. It made me more resilient.Making a great life in a new city is all about making the effort to talk to strangersNow that I've lived in LA for a bit, I try to share my lessons with other newcomers to the city.I tell them it's easy to meet new people at co-working spaces and cafes. There's a great mix of entrepreneurs, artists, and other professionals. They have regular events & happy hours. Or you can just go up to someone and ask what they're working on.Search for local interest groups on Facebook, Instagram, Telegram. It could be a book club, language exchange, hiking or biking group: These are all good places to meet people.Airbnb Experiences are also a great way to explore a new area and meet people. I signed up for a group hike in Griffith Park and a walking tour of Melrose street art.In neighborhoods like Silver Lake and Venice there's more of a small-town vibe. It's easy to meet people at cafes and ask for local tips and places to check out.People are more approachable during the day, when the sun is shining. Don't be afraid to put down your phone and talk to a stranger. That's how people met before the internet!Daniel Zahler is a healthcare consultant based in Santa Monica, California.Read the original article on Business Insider.....»»

Category: topSource: businessinsiderJul 29th, 2022

Mixed-use Lenox Hill portfolio sells for $33.75M

JLL Capital Markets has closed the $33.75 million trade of a three-building mixed-use multi-housing and commercial portfolio in Manhattan’s Lenox Hill neighborhood.  Located at 1026 Third Ave. and 1020-1024 Third Ave., the portfolio was acquired by Kahen Properties, a New York-based development firm led by Jerry Kahen, who is planning... The post Mixed-use Lenox Hill portfolio sells for $33.75M appeared first on Real Estate Weekly. JLL Capital Markets has closed the $33.75 million trade of a three-building mixed-use multi-housing and commercial portfolio in Manhattan’s Lenox Hill neighborhood.  Located at 1026 Third Ave. and 1020-1024 Third Ave., the portfolio was acquired by Kahen Properties, a New York-based development firm led by Jerry Kahen, who is planning a long-term hold.  JLL represented the buyer, Kahen Properties, in the $9.75 million acquisition of 1026 Third Ave. Nick Judson, principal of Judson CRE, represented the seller, Portfolio4 LLC. Additionally, JLL represented the seller, JANS Investment Company LLC, in the $24 million sale of 1020-1024 Third Ave.. 1020-1024 Third Avenue is a two-building, 19,375 square foot property situated between East 60th and East 61st streets. It contains 25 residential units and three commercial units, two of which are vacant and one of which is occupied by Chipotle, the fast-food Mexican eatery which has seven years remaining on its lease. 1026 Third Ave. is the former Mathnasium location adjacent to 1020-1024 Third Ave. This loft building is comprised of an exterior ground level restaurant, a second-floor professional space and one duplex residential loft featuring two bedrooms, a home office and 2.5-baths.  The JLL Capital Markets Investment Advisory team was led by Managing Director Clint Olsen and Associate Stephen Godnick.  “The tenant mix and zoning of these properties positions the buyer to capitalize on a fully-recovered rental market in one of the city’s most affluent neighborhoods,” said Olsen. “Coupled with prime retail space and a choice of transportation options, this value-add portfolio offers substantive long-term growth opportunities.” The post Mixed-use Lenox Hill portfolio sells for $33.75M appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyJul 26th, 2022

The Shoppe by Trubee Hill, Conceptualized During Covid by Glen Cove Residents, Opens in Village Square in Downtown Glen Cove

RXR, the leading real estate developer throughout the Tri-State area, is pleased to announce that The Shoppe by Trubee Hill will be the newest tenant to occupy retail space at Village Square in downtown Glen Cove, NY. “Village Square in Downtown Glen Cove has evolved into a destination for everyone,... The post The Shoppe by Trubee Hill, Conceptualized During Covid by Glen Cove Residents, Opens in Village Square in Downtown Glen Cove appeared first on Real Estate Weekly. RXR, the leading real estate developer throughout the Tri-State area, is pleased to announce that The Shoppe by Trubee Hill will be the newest tenant to occupy retail space at Village Square in downtown Glen Cove, NY. “Village Square in Downtown Glen Cove has evolved into a destination for everyone, and the opening of The Shoppe by Trubee Hill offers something unique and special because it is a local business conceptualized by two Glen Cove residents who truly understand the community and are instrumental to its success,” said Joseph Graziose, Executive Vice President, Residential Development and Construction at RXR.  Trubee Hill was founded in 2020 by longtime Glen Cove couple Adam and Ian Siegel during the Covid-19 pandemic. Born from their love of home and entertainment, the Siegels began this luxury brand with the Blue Hydrangea candle, named in honor of the famous flowers in their front yard. Trubee Hill’s product offering has expanded to include over 60 candles with matching room sprays, greeting cards, pottery, artisan gifts, apparel, and other home goods, all of which will be available in the Village Square store. Many of the scents pay homage to the Glen Cove area and the candles are hand-poured locally. The Shoppe by Trubee Hill creates a one-stop shop for all high-end gift and home-good necessities. “We are thrilled to open our doors to the Glen Cove community and introduce our first ever brick-and-mortar store,” said Adam and Ian Siegel. “As longtime Glen Cove residents, we have witnessed the evolution of Village Square and we know there is no better place for us to be. After a very successful soft launch over July Fourth weekend, and we are excited to officially open the space and engage with this wonderful and supportive community.” Village Square, a luxury residential rental community in the heart of walkable Downtown Glen Cove, has seen incredible success since launching; Village Square is 99% leased. The building comprises 2.8-acres on Brewster Street featuring 146 studio, one- and two-bedroom rental apartments, a 16,500-square foot public plaza, 15,600 square feet of retail space, as well as 171 parking spots, including 69 additional spots reserved at the Brewster Street garage. Village Square sits at the core of Glen Cove’s shopping, dining, and entertainment district. For convenience, with walkable access to a variety of recreational activities, including the Sound with its beaches and water sports, Village Square is the perfect location. It is also in close proximity to multiple train lines, including the LIRR to Manhattan, and key destinations on Long Island. The deal was represented by Madeleine Naro, VP Retail Leasing at RXR and Daniel Glazer, Vice President, and Jason Sobel, Executive Managing Director at Ripco. For more information on Village Square, please visit the website here. For more information on The Shoppe by Trubee Hill, visit the website here and follow their Instagram here. The post The Shoppe by Trubee Hill, Conceptualized During Covid by Glen Cove Residents, Opens in Village Square in Downtown Glen Cove appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyJul 25th, 2022

Vietnam’s Richest Man Is Launching an Ambitious—and Controversial—Gambit to Sell Americans Electric Cars

Vietnam's top company wants to conquer the U.S. EV market, starting with a $4 billion plant in North Carolina. On northern Vietnam’s Red River Delta, the world’s most ambitious electric-vehicle (EV) upstart occupies a factory complex fringed with mango trees and palms. Outside VinFast’s plant by the port city of Haiphong, fishermen in conical hats still plumb mudflats for grass carp and tilapia; inside, each car negotiates an overhead ergonomic conveyor assembly line measuring 2.5 miles. A gauntlet of 1,250 robot arms twirl like pneumatic ballerinas, adding some 3,000 components and wielding rivet after rivet in a flurry of sparks. Everything here is top of the line: machinery sourced from Germany, Japan, Sweden. Welding is 98% automated. Capacity is 250,000 cars a year. Impressively, instead of individual assembly lines tailored for each vehicle, the facility can simultaneously assemble multiple models on the same line. Even more impressively, Google Maps shows half of the 877-acre site sits beneath the South China Sea—a quirk because it was reclaimed from the waves and made operational in just 21 months. [time-brightcove not-tgx=”true”] Read More: The Biden Administration Is Trying to Kickstart the Great American Electric Vehicle Race VinFast CEO Le Thuy likes to joke that not even the Mountain View, Calif., behemoth can keep up with the EV maker’s lightning pace. “At the start, everybody said that building cars in two years was impossible. Some even called us crazy,” she says. “But we launched three car models in those 21 months.” The global EV market was valued at $185 billion in 2021 and is expected to rise by 24.5% annually to reach $980 billion by 2028. VinFast is not alone in craving a slice of that pie and is aggressively targeting the U.S. and European auto markets. To succeed, it needs to either unseat Tesla or persuade gasoline-car drivers to switch over. That’s no small feat: China accounts for about half of the global market for EVs, yet still none of its firms have tried the U.S. despite plowing tens of millions of dollars into feasibility studies. Linh Pham for TIMELe Thuy, VinFast’s Global CEO, at Vinpearl Nha Trang. Skepticism is natural when it comes to the congested global EV industry. No sooner does one startup steal a march on rivals than its latest funding round burns up and another overtakes it. Today, the U.S. industry has consolidated behind Tesla—worth some $750 billion and turning its co-founder, Elon Musk, into the world’s richest man—and legacy automakers are belatedly turning to a market whose importance is soaring alongside global oil prices. But how does a parvenu from the technological backwaters of Vietnam seriously expect to compete? It’s a huge challenge. But VinFast’s parent VinGroup is no ordinary firm. Controlled by Vietnam’s richest man, Pham Nhat Vuong, VinGroup is the country’s largest conglomerate, with a total market value of $24.4 billion. Its 2020 revenue accounted for 2.2% of national GDP, and its reach is staggering. “It’s a remarkable story,” says Huong Le Thu, principal fellow at the Perth U.S. Asia Centre and adjunct fellow at the Center for Strategic and International Studies. “There has never been anything of this size in Vietnam. It’s overwhelming at one level because now you can do everything with VinGroup.” It’s almost a state within a state, at least for the upscale. A well-to-do Vietnamese can be born in a VinMec hospital, study at a VinSchool, live in a VinHome, shop at a VinCom mall, graduate from VinUni, vacation at VinPearl resorts, and, perhaps, become one of the leviathan’s 40,000 employees. And now, they can commute in a VinFast electric car, EVs having emerged as the vehicle for the firm’s ambitions to leap from domestic to international. In June 2018, VinFast purchased a GM factory outside Hanoi and, by licensing intellectual property from GM and other auto giants like BMW, began producing its first gasoline VinFast vehicles less than a year later. These initial offerings were essentially ciphers of Western brands—specifically a Chevrolet Spark compact and a BMW 5 Series sedan and X5 SUV. Because of clever marketing and low costs, they proved immensely popular, capturing 17% to 19% of each market segment’s share domestically. They were also essential learning steps. Beginning in August, VinFast will switch to exclusively manufacturing EVs. The company is also set to build a $4 billion factory in North Carolina and is scouting for a European plant. The 2,000-acre site in Chatham County plans to start by producing 150,000 electric vehicles annually beginning in July 2024, creating 7,500 jobs. It’s the largest single foreign direct investment in the state’s history and indicative of the scale of VinFast’s ambition, which is “to become one of the top global EV makers in five to 10 years,” says Thuy, also a deputy chairperson of VinGroup. “We think that we can be as good as anybody in the world.” On July 14, VinFast opened its first six overseas showrooms in California, including a flagship store in Santa Monica. Its first two models set for the U.S. market are sleek-looking SUVs, the VF7 and VF8. “It’s a solid car, no rattles or anything that would indicate a problem,” says Michael Dunne, founder of the ZoZoGo EV market intelligence firm, after a test drive. “But the U.S. market is not for the fainthearted.” Read More: Lithium Is Key to the Electric Vehicle Transition. It’s Also in Short Supply VinFast wants to entice American EV shoppers with a unique proposition: a 10-year warranty and a sticker price that doesn’t include the cost of the battery—an EV’s most expensive component. Instead buyers will have the option to lease batteries from the company for a small monthly fee. Once the battery life degrades to 70%, Vin-Fast swaps in a new one, free of charge. “Investors really like this kind of business-model story,” says Yale Zhang, an auto-industry analyst based in Shanghai. “The question is you need to source more batteries to make it work.” It’s a bold play in an extremely competitive field. But despite VinFast’s inexperience and lack of core technologies, it has much deeper pockets than many new entrants into the EV market. VinGroup has so far plowed $6.6 billion into VinFast and assembled a leadership team headhunted from firms like Ford, Renault, GM, and BMW. The styling is by Italy’s Pininfarina; the dashboard displays by LG; the batteries by Samsung. “We leased IP from BMW, and so that immediately became the standard we worked to,” says Shaun Calvert, VinFast deputy CEO in charge of manufacturing, formerly with GM. The firm also has some rather influential champions. In late March, President Joe Biden tweeted that VinFast’s U.S. investment plans were “the latest example of my economic strategy at work.” Within days, VinFast says, it had almost 10,000 preorders from customers in the U.S. “We keep joking that President Biden is the best salesman that we’ve ever had, and we didn’t have to pay,” says Thuy. It doesn’t stop there. When Thuy attended the SelectUSA investment conference in late June, she was delighted when most of a five-minute speech by U.S. Commerce Secretary Gina Raimondo was dedicated to VinFast. “I’m amazed by the level of support that we’ve received from the U.S. government,” Thuy adds. Linh Pham for TIMEAssembly robots put together car bodies in the body shop at VinFast manufacturing plant in Haiphong. VinFast’s American adventure dovetails with the economic and geostrategic priorities of Hanoi, which aim to turn Vietnam into an upper-middle-income economy by 2030 and a high-income economy by 2045 by enhancing advanced manufacturing -capabilities. Already, most of the Samsung Galaxy smartphones sold in the U.S. are assembled here. But rather than rely on foreign companies, the priority among Hanoi politicians is to build strong local champions. “They want companies like VinGroup to take the lead in the national economy,” says Le Hong Hiep, a senior fellow at the ISEAS-Yusof Ishak Institute in Singapore. At the center of this ambition sits Vuong, the oldest of three children who grew up poor in Hanoi with his mother running a tea stand and his father serving in the ​​Vietnamese army’s air-defense division. His talent for math led to a scholarship to study engineering at Moscow Geology University. After the collapse of the Soviet Union, he moved to Kharkiv, where he set up a Vietnamese restaurant. But soon he diversified into instant noodles flavored with spice blends from his homeland, eventually exporting from Ukraine to 29 countries. Fortune swiftly followed. Today, the brand he founded, Mivina, remains synonymous with noodles in Ukraine, like Xerox for photocopying in the U.S. In 2010, Vuong sold his company to Nestlé for a reported $150 million, returning to Vietnam ready for a fresh challenge. His first domestic venture was a VinPearl beach resort on Hon Tre Island off Nha Trang. A flurry of plush real estate developments followed, including Ocean Park, a complex of 45,000 villas and apartments around an artificial sand and seawater beach in central Hanoi. Today, VinGroup boasts 27 urban complexes and 83 shopping malls across Vietnam. Vuong developed a reputation for bold business decisions and pivoting quickly. VinGroup nixed a foray into airlines in January 2020 as the pandemic took hold; Vuong repurposed a factory to make low-cost ventilators. VinFast’s overseas expansion also provides protection for Vuong, whose elitist, capitalist Vin empire chafes with some of the ruling Communist Party’s old guard. In 2019, Vuong’s younger brother was sentenced to three years for bribery, and a purge of wealthy tycoons has gathered pace since, mirroring a similar campaign in China. “If he is successful overseas, and especially in the U.S., that will strengthen Vuong’s bargaining power in Vietnam and enhance his political status,” says Hiep. Known for shunning the limelight and demanding high standards, Vuong is also a champion of women in a region where sexism is notoriously rife, especially in business. Four of VinGroup’s six vice chairpersons are women, including Thuy, who joined VinGroup from the now defunct Lehman Brothers investment bank, where she was vice president covering Asian markets. Asked about Vuong’s leadership style, Thuy replies, “Vision, strategy, discipline, and a lot of humanity … We only do things that have a big social impact.” For Huong, he’s “one of those visionary entrepreneurs. Maybe you could compare him to a Vietnamese Elon Musk.” Linh Pham for TIMENew VinFast EV VF8 cars are test driven by selected guests in Vinpearl Nha Trang, a leisure island by VinGroup in Nha Trang, Vietnam. It’s an obvious comparison given Vuong’s increasingly laser-like focus on EVs. In December 2019, VinGroup sold off its VinMart chain of convenience stores. Last May, VinGroup announced the shuttering of its consumer-electronic arm, VinSmart, despite having secured 17% of the domestic smartphone market by then and marketing four models in the U.S. through AT&T. Instead, the conglomerate said it wanted to “mobilize all resources” into VinFast. As the pandemic rumbled on, with borders closed and even domestic tourism curtailed, the group’s VinPearl resort on Hon Tre Island became an engineering hub. Over a thousand VinFast engineers and their families were ensconced on the island from May to October 2021 to work together uninterrupted 24/7. “At least we had the golf course to occasionally play on!” says Hoang Vu Nguyen, VinFast chief deputy of power train and a Ford veteran. It was here the differences of VinGroup’s working style became apparent. Rather than waiting for layers of local, regional, and international management to greenlight decisions, “as a chief deputy, I have direct communication with our CEO. The approval layer is almost flat.” It is, of course, symbolic that Vuong’s first venture since returning from Ukraine became the hub for his new foray overseas. Given Vuong’s ties with both Russia and Ukraine, his perspective on Vladimir Putin’s Feb. 24 full-scale invasion has been subject to much conjecture. Vuong, who declined an interview request, has not commented publicly on the war in Ukraine, though a close confidant says he is “heartbroken.” Retaining deep ties with both nations, Vin-Group has helped arrange visas for Russians who have faced European travel restrictions. Vuong’s discretion mirrors that of Vietnam’s government, which has long rooted its security in maintaining relations with all great powers, and is especially wary of enraging the Asian superpower to its north. For Vietnam’s leaders, Putin’s invasion of Ukraine was seen as “validation of their approach to China,” says Alexander Vuving, a professor at the Asia Pacific Center for Security Studies in Hawaii. For Hanoi, the lesson of Kyiv’s flirtation with the West was that it jeopardized the nation’s sovereignty and security. “They know their position next to China is very similar.” Read More: The Cost Is Quickly Rising for China’s Embrace of Putin Still, that neutrality has been buffeted by the invasion. Vietnam still purchases around 80% of military hardware from Russia, and it abstained on the U.N. motion to condemn Russia’s invasion. Yet it is an uncomfortable position for Vietnam’s leaders, and investments like VinFast’s North Carolina factory that build goodwill in the U.S. Congress offer a welcome counterweight. VinFast’s U.S. investment “serves the geopolitical objectives of Vietnam, which is to cooperate with the U.S., boost ties, and balance trade,” says Vuving. A touted U.S. IPO for VinFast, for one, is possible only with the explicit approval of the Vietnamese Communist Party. “The Vietnamese government has been super supportive,” says Calvert. Linh Pham for TIMEInterior details of a VinFast EV VF8 car on display for selected guests in Vinpearl Nha Trang on July 8. Geopolitics underpins the U.S. position too. As Washington’s relations with Beijing enter a deep freeze, the White House is keen to cement ties across the Asia-Pacific—even though, politically at least, China and Vietnam are very similar beasts: regimes ruled by communist parties with scant respect for rule of law or human rights. Vietnam currently holds at least 208 political prisoners, according to the 88 Project, a rights watchdog that has documented “a concerted crackdown on dissent that has worsened in recent years.” A key difference, of course, is that China’s ambitions on the global stage present a direct challenge to U.S. hegemony. President Xi Jinping’s avowed desire to reclaim “center stage in the world” undermines American interests from Europe to the Pacific, Latin America to Africa, most egregiously spotlighted by his backing of Putin’s invasion. On Feb. 4, the House of Representatives passed the America COMPETES Act to better challenge China technologically, economically, and diplomatically. “If you’re Xi Jinping, you have to make the world safe for autocrats,” one top State Department official tells TIME. Any geostrategic ambitions Vietnam harbors are reserved for its own neighborhood, chiefly retaining influence in Laos and Cambodia. “China is competing strategically with the United States; Vietnam is cooperating strategically with the United States,” says Vuving. Vietnam also frequently clashes with Beijing over disputed islands in the resource-rich South China Sea, and memories of China’s ill-fated invasion of 1979 burn brighter than those of American misadventure in the region. Today, approval of the U.S. among Vietnamese stands at a staggering 84%. It is comfort born of knowing its place in the world. While China’s leaders leverage the “century of humiliation” wrought by colonial powers to justify a resurgent and toxic nationalism, Vietnam has no such baggage; over the past century, this plucky nation has bested French, American, and Chinese invaders. Vietnam is under no illusions about who it is: the toughest, scrappiest little guy in a rough neighborhood. But can its premier company compete with the might of Tesla? Given the scale of the nascent EV market, it might not have to. “The real competition of EVs like VinFast are not Tesla,” says Stephanie Brinley, principal analyst at S&P Global Mobility. “The real competition is internal combustion engine owners, getting those guys to jump on board.” VinFast and Vietnam are confident that they can. On a cruise for VinFast investors tracing the jagged limestone karsts of northern Vietnam’s Ha Long Bay, a musician in silk ao dai strums a whining version of the Eagles’ “Hotel California” on the single-stringed zither, as a DJ cranks up a thumping bass track. It’s a scene that telegraphs where this Southeast Asian nation now wants to be: a business-friendly, tech-savvy industrial powerhouse. The next South Korea, if you will, an ambition that feels explicit, given the DJ’s K-pop-inspired peroxide mop. “A lot of people in Vietnam take pride in VinFast, and they want to support the project, and they want us to be successful,” says Thuy. To electrify America’s “dark desert highway” with Vietnam’s red star. Linh Pham for TIMEVinFast cars can be seen running at Vinhomes Riverside, a residential complex by VinGroup, on July 7. —With reporting by Eloise Barry/London.....»»

Category: topSource: timeJul 23rd, 2022

ATCO Properties & Management Signs Five Leases on Park Avenue South

 ATCO Properties & Management announced today that it has completed five leasing transactions totaling 16,400 square feet at 373 Park Avenue South and sister building 381 Park Avenue South, two of its boutique class A properties situated in the heart of Manhattan’s Midtown South office district. In the largest transaction, ATCO welcomed Aegis Venture Partners... The post ATCO Properties & Management Signs Five Leases on Park Avenue South appeared first on Real Estate Weekly. 373 Park Avenue South  ATCO Properties & Management announced today that it has completed five leasing transactions totaling 16,400 square feet at 373 Park Avenue South and sister building 381 Park Avenue South, two of its boutique class A properties situated in the heart of Manhattan’s Midtown South office district. In the largest transaction, ATCO welcomed Aegis Venture Partners LLC into an 8,732 square-foot space on the second floor at 373 Park Avenue in mid-June following the firm’s relocation from 115 East 23rd Street. Aegis ‌Ventures is an emerging startup studio that partners with entrepreneurs and industry leaders to originate‌, launch‌, and scale transformative companies‌.‌ The two-year deal was handled for the tenant by Brandon Cooperstock of Savills. Natalie Tobar-Romero of Cushman & Wakefield represented the landlord. 381 Park Avenue South With the Aegis signing, ATCO extends its leasing momentum at 373 Park Avenue. In April, ATCO secured a 10-year, 17,464 square-foot lease with Mount Sinai to open a cardiology office in the building. At 381 Park Avenue South, ATCO closed four deals including a seven-year, 2,954 square-foot lease with architecture and design firm FGS Design LLC that will more than double its footprint at the tower. The company, whose headquarters previously occupied 1,249 square feet on the 9th floor of the building, is relocating to a larger, upgraded space on the same floor. Led by Architect Kiko Sanchez, FGS focuses on custom residential work including single-family luxury homes, renovations, additions, apartments, and condominiums as well as many mixed-use and residential developments. Robert Morris of FGS Design LLC handled the deal for the tenant. ATCO co-president Kate Hemmerdinger Goodman represented building ownership in-house. Also at 381 Park Avenue South, ATCO signed a four-year lease renewal with New York-based conservation studio TWO STICKS inc., which will continue to occupy 1,521 square-feet on the 13th floor. Founded in 2005, the company specializes in modern and contemporary art and collaborates with and provides art conservation services on a broad range of materials for institutions, corporations, private collectors and major galleries. Francesca Esmay of TWO STICKS inc. handled the deal for the tenant and Kate Hemmerdinger Goodman represented building ownership in-house. ATCO also completed a five-year lease renewal with Valerio Architects Inc., which is nearly doubling its current footprint on the eighth floor by relocating to a 1,990 square-foot space on the ninth floor at 381 Park Avenue South. Founded in 1994, Valerio Architects specializes in architecture, interior design, planning and brand design for high-end international clientele in the retail, restaurant and commercial office sectors. No brokers were involved in this deal. Additionally, ATCO signed a new five year and four month, 1,203 square-foot lease with EVOS to open the food and beverage purveyor’s New York office at 381 Park Avenue South. EVOS moved into the 11th floor space in early June. Founded in 1994, EVOS serves up all-American favorites made with healthier ingredients and cooked by air baking without the grease. Todd Hershman of Newmark represented the tenant in this deal and Pierce Hance of Cushman & Wakefield represented building ownership. “We are so pleased to welcome Aegis Venture Partners and EVOS to our Midtown South portfolio, and that FGS Design, Valerio Architects and TWO STICKS will continue to call our buildings home,” said Hemmerdinger Goodman. “381 Park Avenue South and 373 Park Avenue South provide it all – a prime location in the flourishing Flatiron District, premium workplace environments and exceptional management service.” The sister buildings were built in the early 1900’s and reflect the architecture of classical buildings. 381 Park Avenue South boasts 17 floors totaling 228,000 square feet and 373 Park Avenue South rises 12 floors and totals 110,000 square feet. Both are located just steps from Madison Square Park and several subway lines, including the N, R, Q and 6 trains. The buildings offer sunny exposures and flexible floorplates. Other tenants at the buildings include Simplebet, Launchsquad, Neuehouse, Advanced Focus, Lifetime Brands, Inc., ListenFirst Media, Secretariat Advisors LLC, Stephen B. Jacobs Group, Maria B. Campbell, Inc., Industrial Development Funding, Goldstein, Rikon, Rikon & Houghton, P.C., Fuze Inc., RW3 CultureWizard and Superfly Productions. Retail tenants include famed bakery and restaurant Sarabeth’s Kitchen, as well as Mexican restaurant Dos Caminos. Asking rents were $64 per square foot for all four deals at 381 Park Avenue South and $53 per square foot at 373 Park Avenue South. For more information on ATCO, please contact 212-687-5154 or visit www.atco555.com. The post ATCO Properties & Management Signs Five Leases on Park Avenue South appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyJun 30th, 2022

The MOST expensive homes for sale in every US state - from a $3 million house in Nebraska to a $225 million megamansion in California

Look through photos of the most expensive homes listed for sale in the US. From acres of farmland to beachfront views, the amenities are endless. Randall RealtorsReal estate is becoming increasingly more expensive - and more difficult - for the average American to comfortably afford. Each of these million-dollar homes offers unique amenities for their hefty price tags. From private islands, to a hunter's paradise, there's something for everyone. It's becoming more difficult to buy a home, and these residences show the cost of luxury. According to online real estate marketplace Point2Homes, these 51 homes are the most expensive in their respective states. The properties range from single-family houses to gated compounds on acres of land.Alabama: 2510 Kirby Bridge Road, Decatur - $12.3 millionParker Real Estate Res.LLCThis gated compound is nearly 200 acres of secluded land with a stocked pond for fishing. The house itself is a custom 3-bedroom, 2.5-bathroom that offers an abundance of privacy for outdoorsmen.Alaska: 5260 Kachemak Drive, Homer - $9 millionLarner Global GroupWith 17,000 square feet of living space, this Alaskan home offers a spa, indoor pool, and steam room. It includes eight custom suites with unique features in each room and a 270-degree conservatory with a telescope for viewing Alaska's wildlife. Arizona: 20958 N 112th Street, Scottsdale - $28 millionEngel & Voelkers ScottsdaleCalled "The Aerie," this seven-bedroom, eight-bathroom home was just built this year. It's nestled in the McDowell Mountains and boasts sweeping views of the valley below. Arkansas: 115 West Van Buren, Eureka Springs - $7 millionAll Seasons Real EstateThe Queen Anne Mansion Estate was built in 1891 with seven master suites complete with en-suite bathrooms. The 4-acre lot includes a total of 10 bedrooms and 13 bathrooms.California: 33550 Pacific Coast Hwy, Malibu - $225 millionWestside Estate AgencyWith 16 beds and 22 baths, this property overlooking the Pacific Ocean covers nearly five acres and features nine structures, including a beach cottages, guest houses, and more. It has an underground tunnel connecting the pool to a movie theater, and an elevator to take guests to the beach.At $225 million, it's not only the priciest home for sale in California, but also the most expensive one for sale in the US. Colorado: 1650 McLain Flats Road, Aspen - $55 millionAspen Snowmass Sotheby's International RealtyThis bucolic compound, called the "Merry Go Ranch," includes 21 acres of lawns and pastures, as well as an eight-stall barn and a 13,000-square-foot gym.Connecticut: 450 Brickyard Road, Woodstock - $60 millionRandall RealtorsEver wanted to live in a castle? Here's your chance. This distinctive property features a moat, towers rising 120 feet high, period architectural doors, and stained glass throughout the castle, which overlooks a 30-acre pond.Delaware: 21440 Bald Eagle, Rehoboth Beach - $4.85 millionJohn Rowley with CoastLine RealtyBuilt in 1993, this Delaware home offers over four acres on Rehoboth Bay with four bedrooms and three full bathrooms. If that's not enough, there's a carriage house over the 3-car garage for extra living quarters.Florida: 18 La Gorce Circle, Miami Beach - $170 millionCourtesy of 1 Oak Studios/The Jills Zeder GroupThis massive compound, built in 1936 has never been put on the market until now. It sits on a 125,000-square-foot lot. It's compromised of four gated properties, and comes with its own private park, not to mention views of Biscayne Bay and the Miami skyline. Georgia: 120 Hawkins Lane, Saint Simons Island - $17.8 millionRandy Burgess with Burnett PropertiesFor just under $18 million, Little Hawkins Island is a gated family compound surrounded by greenery and marsh. This private island includes four residential buildings: the main residence, two guest cottages, and the clubhouse for a total of 11,000 square feet.Hawaii: 9 Bay Drive, Lahaina - $59.5 millionCourtesy of Coldwell Banker Island PropertiesThis home's buyer would enjoy clear views of the sunset year-round on these 10 oceanfront acres on Hawea Point. Idaho: 105 Camas Road, Ketchum - $19.75 millionCourtesy of Sue Engelmann with Berkshire Hathaway HomeServices Sun Valley PropertiesThis lodge-style residence sits on nearly 300 acres of Idaho land with views of Bald Mountain. With five bedrooms and six bathrooms, the secluded home is "one of Idaho's most exclusive legacy properties," according to the listing.Illinois: 1932 N. Burling St., Chicago - $45 millionJameson Sotheby's International RealtyThis 25,000-square-foot estate in Chicago's Lincoln Park neighborhood has amenities like a reflecting pool and antique garden pavilion.Indiana: 10285 West Youth Camp Road, Columbus - $30 millionBrock Childs with The Home AestheticVisitors to this rustic home on 415 wooded acres will find a two-story waterfall and trout stream in its entryway, and an 8,700-gallon freshwater aquarium in its great room.Iowa: 16216 and 1615 IA-86, Spirit Lake - $11.9 millionEric Hoien of Hoein RealtyThis residence is more like a lakeside retreat complete with an Irish pub, movie theatre, art studio, and separate loft apartment. There are a total of eight bedrooms, 15 bathrooms, and six fireplaces, and the home is being sold completely furnished.Kansas: 1051 N Blackstone Road, Milton - $6.7 millionAdler Grey Real Estate Media CollectiveThis net-zero energy home comes fully furnished including farming equipment for the 89 acres of land that comes along with the house. According to the listing, the residence is self-sustaining with a solar power system, generators, and propane gas. On this property, there's space dedicated to horses, spring-fed ponds, and a 300-yard shooting range. Inside the nearly 7,000-square-foot main home, there are six bedrooms and seven bathrooms, and a wet bar that's more like a second kitchen.Kentucky: 30 Bass Court, Whitesville - $25 millioneXp RealtyThis western Kentucky compound comes with three homes, a large private lake, and income-producing crop land on-site.Louisiana: 11001 Highland Road, Baton Rouge - $14 millionQuita CutrerLocated in the capital city, Baton Rouge, this over-12-acre property has a Mediterranean flare. Each of the five bedrooms has its own bathroom, and access to one of the various sitting rooms. In this home, there are many places to relax: a breakfast room, coffee bar, media room, and massage room.Outside of the main house, there's a 4,800-square-foot guest house with its own 3-car garage and a fully stocked pond for fishing. For outdoor entertainment, a 1,429-square-foot cabana, saltwater pool, and outdoor kitchen.Maine: 153 Foreside Road, Falmouth - $10.5 millionDavid Jones with F.O. Bailey Real EstateThis oceanfront property underwent a full renovation in 2021 to become a one-of-a-kind estate. There are three separate dwellings for guests, staff, or rentals, and the main residence features at least four bedrooms and seven full bathrooms. Although the water is just steps away outside, there's a deepwater diving pool and whirlpool jacuzzi indoors. Maryland: 1604 Winchester Road, Annapolis - $24.9 millionTTR Sotheby's International RealtyBuilt in 1922, this property overlooking the Severn River in Maryland has changed ownership many times - at one point belonging to the Catholic Church as a friary, from which it gets its current name, Friary on the Severn. Its features include a rooftop garden, 60-foot infinity pool, and six-slip private boat dock.Massachusetts: 41 Jefferson Ave., Nantucket - $39 millionCourtesy of CompassThis Nantucket property was first developed as a private beach club in the 1930s. Today, it has a four-unit main beach house and two stand-alone cottages.Michigan: 1558 Dutton Road, Rochester - $11.5 millionVito Anthony HomesThis 22-acre residence was custom built to showcase European craftsmanship by architect Dominick Tringali. It features seven bedrooms, 10 bathrooms, a home theater, full bar, and two guest homes.Minnesota: 36463 Butternut Point Road, Pequot Lakes - $12 millionLarson Group Real Estate, Keller Williams Realty Professionals.Built on a peninsula on Whitefish Lake, this 3-acre home has 2,000 feet of shoreline, and six log guest houses. In total, there are 19 bedrooms and 22 bathrooms.Mississippi: 205 S Valley Road, Poplarville - $12.25 millionAdam Hester with Tom Smith Land & HomesThis property offers over 2,000 acres dedicated to outdoor activities. The owner can enjoy the whitetail deer enclosure, trophy bass fishing, and duck hunting without leaving home. Cross Creek Farm is custom-built 6,200-square-foot home with six bedrooms and six full bathrooms.Missouri: 2608 & 2606 Arrowhead Estates Road, Village of Four Seasons - $9.99 millionSpencer with EXP Realty, LLCThis family compound is in the heart of Lake Ozark. Inside the gates, there's a 3-story main house, two-bedroom two-bathroom guest house, two pools, a putting green, and a tennis court. The main house is complete with 130 solar panels.Montana: 405 Delrey Road, Whitefish - $40 millionGlacier Sotheby's International RealtySpring-fed mountain ponds and streams dot the 35 acres on which this lakefront log home sits in Montana.Nebraska: 17426 Island Circle, Bennington, Douglas County - $3.75 millionMichael Maley with BHHS Ambassador Real EstateThis 4-bedroom 6-bathroom home was built in 2016 on over an acre of land with 250 of open water frontage.Nevada: 1730 Hwy 50, Glenbrook - $100 million1730 Us Highway 50, Glenbrook, NVGoogle/US Geological SurveyThe Wall Street Journal and Robb Report have published photos of this lakefront home, complete with features like a wine room with capacity for 2,500 bottles, a greenhouse, and a whopping 700 evergreen trees on the property.New Hampshire: 144 Springfield Point Road, Wolfeboro - $19.5 millionJamieson Duston Of Duston Leddy Real EstateNamed "Lakeside Manor" for its location along 841 feet of Lake Winnipesaukee's shore, this home has four levels and 37 rooms total. The amenities offered inside include a 900-bottle wine room, 15-seat theater, and a 30-foot natural stone fireplace.New Jersey: 48 Rio Vista Drive, Alpine - $25 millionChristie's International Real Estate Northern New JerseyThis chateau-style manor has its own movie theater, pub, and great room with a 37-foot-high arched cathedral ceiling.At $25 million, it ties with another estate for the title of most expensive home for sale in New Jersey...New Jersey: 275 Indian Trail Drive, Franklin Lakes - $25 millionCourtesy of Christie's International Real Estate Northern New JerseyThis 14,700-square-foot estate comes with indoor and outdoor pools, a wine tasting room, and a basketball court.New Mexico: Zorro Ranch, Stanley - $27.5 millionUS Attorney's Office for the Southern District of New YorkRoughly half an hour from Santa Fe, this ranch has a three-story, four-bedroom main house; a lodge and log cabin; and even a yurt. The sprawling property was formerly owned by the convicted sex offender Jeffrey Epstein, who purchased it in 1993 and killed himself in jail in 2019. It has been on the market for about a year.New York: 700 Meadow Lane, Southampton - $175 millionBespoke Real EstateThis modern Tudor-style mansion in the Hamptons comes with 11 bedrooms, 12 full and four  half bathrooms, and a private boardwalk to the beach. North Carolina: 1 Auditorium Circle, Wrightsville Beach - $13 millionLandmark Sotheby's International RealtyThis modern home features four bedrooms, five bathrooms, a pool, spa, and a boathouse. According to the listing, its design was inspired by the tropical modernism of mid-century Hawaii.North Dakota: 14388 45th St. NW, Williston - $4.99 millionDarin Milbrath with Dakota Plains Realty, LLCThe River Ranch uniquely features two master suites — one on each level. It's situated on 1,879 acres of land with the possibility of farming available.Ohio: 2779 Som Center Road, Hunting Valley - $6.95 millionTerry Young with Keller Williams Greater MetropolitanThe home itself is over 17,000 square feet of castle-like design. Situated on over five acres, it includes five bedrooms, eight bathrooms, a 12-seat theater, and a rooftop outlook to take in the views.Oklahoma: 3105 S Peoria Ave., Tulsa - $15 millionRob Allen with Sage Sotheby's RealtyThis 1925 mansion is in the heart of Tulsa on seven acres of heavily wooded land. The Patterson Estate consists of a main house, a guest house, and a tennis court. Oregon: 27280 NE Old Wolf Creek Road, Prineville - $65 millionCascade Hasson Sotheby's International RealtyThis ranch has a three-bedroom home, multiple cabins, and a six-stall horse barn. It's located in the foothills of central Oregon's Ochoco Mountains and borders 850,000 acres of national forest.Pennsylvania: 500-6 Walnut St., Unit 2500-2600, Philadelphia - $27 millionKurfiss Sotheby’s International RealtyThis 8,400-square-foot penthouse boasts floor-to-ceiling windows and is configured to allow for three large bedrooms, four full baths, and three half baths.Rhode Island: 2 Kidds Way, Westerly - $18.5 millionCourtesy of Lila Delman CompassThis open concept residence has been named Treasure Hill as it's situated at the second highest elevation on the Watch Hill peninsula. It features a heated saltwater pool, in-house fitness area with a sauna, and a wine tasting room.South Carolina: 133 Flyway Drive, Kiawah Island - $20 millionCelia Dunn Sotheby's International RealtyThis seaside estate comes with a private 400-foot driveway and a bridged walkway from the backyard to the beach.South Dakota: 13911 Cobb Road, Hermosa - $6.9 millionCourtesy of Jeff Garrett with Hayden Outdoors Real EstateThe Rafter R Ranch is nearly 500 acres. The 4,125-square-foot home was built in 2000 with three bedrooms and three bathrooms.Tennessee: 1304 Chickering Road, Nashville - $50 millionFridrich & Clark RealtyThe main home on this 59-acre estate has colonnaded porches at its front and back. The property also comes with a separate nine-acre building site.Texas: 12400 Cedar St., Lake Travis - $45 millionAustin Luxury GroupOne of the first things visitors will be greeted by at this waterfront estate/event space, called Villa Del Lago, is a grotto with multiple cascading waterfalls carved into the adjacent canyon hillside. Elsewhere on the property, they'll find a mudroom, private custom boathouse, and fenced pastures.Utah: 533 N Left Fork Hobble Creek Road, Springville - $48 millionCourtesy of Summit Sotheby's International RealtySeveral ponds dot Hobble Creek Ranch, which is well-suited for cattle and horses, and varies in elevation from 5,700 feet to over 9,100 feet.Vermont: 506 North Hill Road, Stowe - $16 millionPall Spera Company Realtors-StoweThis 68-acre estate has a helicopter landing site, a zipline, sunken hot tub, and a total of 11 bedrooms.Virginia: 700 Bulls Neck Road, McLean - $39 millionCourtesy of Townsend Visuals / TTR Sotheby's International RealtyThis estate overlooking the Potomac River has two garages, one of which can fit up to 22 cars, as well as a central lawn area designed to fit a large tent to accommodate more than 200 guests.Washington: 3858 Hunts Point Road, Hunts Point - $85 millionCourtesy of Windermere Real EstateBuilt in 1995, this compound on Lake Washington consists of four structures totaling more than 17,000 square feet of living space.West Virginia: 4428 Irish Heights Drive, Summersville - $19.5 millionColdwell Banker RealtyThe main residence overlooks over 100 acres of forest for an especially secluded experience. The wine cellar holds 3,000 bottles, and the primary suite has private access to an outdoor hot tub.Wisconsin: 9095 Cottage Row Rd, Fish Creek - $11.9 millionDiane Taillon with Arbor Crowne PropertiesThis 7-acre property is made up of a main house, guest house, and boathouse with rooftop entertainment deck. It offers 805 feet of shorefront in Fish Creek. Wyoming: 6160 W Lazy H Road, Wilson - $19.5 millionCompass Real EstateThis residence offers three separate living spaces and 50 acres with access to miles of National Forest. It comes with access to amenities like private fly fishing and trails for hiking and running.Read the original article on Business Insider.....»»

Category: worldSource: nytJun 25th, 2022

Central Park Tower, World’s Tallest Residential Building, Unveils Highest Private Cub Ever

Nationally acclaimed real estate development firm Extell Development Company today officially unveiled the highly anticipated 100th Floor, the crowning jewel of Central Park Tower, the tallest residential building in the world offering 179 ultra-luxury condominiums. Located over 1,000 feet above Billionaires’ Row in Manhattan and part of the building’s Central Park Club, the 100th Floor is New York’s... The post Central Park Tower, World’s Tallest Residential Building, Unveils Highest Private Cub Ever appeared first on Real Estate Weekly. Nationally acclaimed real estate development firm Extell Development Company today officially unveiled the highly anticipated 100th Floor, the crowning jewel of Central Park Tower, the tallest residential building in the world offering 179 ultra-luxury condominiums. Located over 1,000 feet above Billionaires’ Row in Manhattan and part of the building’s Central Park Club, the 100th Floor is New York’s most elevated private club boasting private dining and entertaining spaces. “Central Park Tower’s 100th Floor is unlike anything else in the world and it’s only fitting that it is located in New York City’s preeminent skyscraper,” said Gary Barnett, Founder and Chairman of Extell Development Company. “In addition to the unmatched residences, which offer endless views, exquisite architecture, and gracious layouts, Central Park Club is a defining element that further elevates our residents living experience.” Central Park Club is an exclusive offering that includes 50,000 square feet of white-glove services and amenities spread across three floors. Each location provides a unique experience complemented by five-star service. Spanning more than 8,300 square feet, the 100th Floor of the club was designed by the internationally celebrated design firm Rottet Studio, who also curated the building’s residential interiors.The meticulously-designed space features a grand ballroom with seating for more than 120 people, private bar and restaurant with seasonal menus from Michelin star chefs, and wine and cigar lounge – all with one-of-a-kind 360-degree views of Central Park, the Hudson and East Rivers and the famed Manhattan skyline. Adding to the allure of Central Park Club, in a first-ever collaboration with a luxury skyscraper, lifestyle advisor and author Colin Cowie has created a bespoke living experience as the building’s exclusive lifestyle curator and event planner.  Colin Cowie Lifestyle serves as Central Park Tower’s food and beverage operator and provides service throughout Central Park Club. The club also features dining experiences from Michelin star chefs including Alfred Portale, Laurent Tourndel, and Gabriel Kreuther – who will create an unparalleled food and beverage program offering signature dishes throughout the year. Through a five-senses approach, Colin Cowie Lifestyle has introduced a comprehensive experience within Central Park Tower. The club will feature a precisely formulated ambiance that changes throughout the day to ensure 24/7 comfort and tranquility, including lights that will adapt with the setting sun, music that will grow in tempo from morning to night, and custom seasonal scents. “We have been in the business of creating bespoke luxury experiences for 35 years but Central Park Tower is our first foray partnering with a luxury residential building,” said Colin Cowie. “Our mission as a company is about creating experiences that deliver Life At The Top. There is literally and figuratively no better building in the world to showcase that than at Central Park Tower. We are thrilled at the opportunity to collaborate with Extell and Gary Barnett, on this one-of-a-kind space and experience.” Additional amenities within Central Park Club include the 14th floor Terrace level, which offers a 60-foot outdoor swimming pool, sun deck and cabanas, private garden, gas grill and bar, fireplace and screening wall. Also located on this floor is a residents’ lounge with billiards, private screening and performance space, game room, and conference room and business center. With a focus on fitness and wellness, the 16th floor amenities include a 63-foot indoor saltwater swimming pool and spa, fitness and wellness center, squash/half basketball court, private treatment room, and men and women locker rooms with showers, steam rooms and saunas. At the base of Central Park Tower is Nordstrom’s first full-line department store. The approximately 320,000-square-foot, seven-story store, which opened in 2019, represents the company’s biggest statement for its brand.  Residents of Central Park Tower receive special access to Nordstrom’s flagship store. A rare collaboration that marks a first for the retailer, this unique lifestyle program offers residents exclusive in-residence and in-store programming. Some of the privileges include guaranteed reservations for Nordstrom’s three full-service restaurants, as well as immediate access to the retailer’s two bars and café. Resident-only services also include in-residence and in-club dining experiences, beauty and spa services, clinical skin care, personal stylists for wardrobes in the home and a variety of in-store perks, including advance access to new brands and collections, and priority access to invite-only style events.   Extell has co-developed Central Park Tower with SMI USA (SMI), the US subsidiary of Shanghai Municipal Investment, a leading infrastructural investment company responsible for the esteemed Shanghai Tower, the second tallest building in the world. Extell Marketing Group and Corcoran Sunshine Marketing Group are the exclusive sales and marketing agents for the building. Central Park Tower features two-to-eight-bedroom residences that begin on the 32nd floor of the building and range in size from 1,435 square feet to over 17,500 square feet. Pricing for current availability at Central Park Tower starts at $6.5 million. For more information or to schedule a private appointment of the model residences, please call 212-957-5557 or visit www.centralparktower.com. The post Central Park Tower, World’s Tallest Residential Building, Unveils Highest Private Cub Ever appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyJun 22nd, 2022

Newmark to Lease Office and Retail at New Mixed-Use Development in Millbrae, California

Newmark 1 , on behalf of Republic Urban Properties and Principal Real Estate Investors, is actively engaged in the leasing of Gateway at Millbrae Station, an iconic, neighborhood-defining community located at the steps of the Millbrae BART and Caltrain stations. Newmark Executive Managing Director Craig Kalinowski, Executive Vice President Josh... The post Newmark to Lease Office and Retail at New Mixed-Use Development in Millbrae, California appeared first on Real Estate Weekly. Newmark 1 , on behalf of Republic Urban Properties and Principal Real Estate Investors, is actively engaged in the leasing of Gateway at Millbrae Station, an iconic, neighborhood-defining community located at the steps of the Millbrae BART and Caltrain stations. Newmark Executive Managing Director Craig Kalinowski, Executive Vice President Josh Rowell and Director Mark Courson are actively engaged in leasing the office portion of the project, while Newmark Senior Managing Director Sean O’Carroll and Managing Director Josh Shumsky are leading the retail leasing. “The Gateway project represents transit-oriented design at its best,” said Michael Van Every, CEO of Republic Urban Properties. “This design focused on building a destination incorporating work, live, shop and a beautiful pedestrian paseo, with direct access to the largest BART & Caltrain station in the Bay Area. We are excited to fully deliver all phases of the project this year, bringing world class tenants to Millbrae.” Gateway at Millbrae Station features 157,694 square feet of office space, 43,373 square feet of retail space, 400 residential units and a 164 room Marriot by Residence Inn. The project is nearing completion, with the office and retail space delivered during the second quarter of 2022. The office space features 50,000-square-foot floor plates—the largest on the Peninsula— plus spacious high ceilings, abundant lighting, private patio space and exceptional corporate branding visible on Highway 101. The retail and restaurant space is prime for distinctive dining, shopping and entertainment options, and includes a pedestrian-only paseo to feature outdoor dining. “We are excited to see our client’s vision and hard work result in a destination center for the Mid-Peninsula market. Gateway at Millbrae Station is a one of kind transit-oriented project,” said Kalinowski. “With best-in-class office space, new high-quality amenities, building-top signage opportunities and connectivity to the Bay Area work force, we have already generated strong tenant interest.” The Millbrae Transit Center is currently the only location on the Peninsula where BART and Caltrain connect, making it a strategic transit hub. Located approximately a quarter mile from San Francisco International Airport—the seventh busiest airport in the U.S. by passenger volume—it is a key location for office and retail development, as the area features strong daytime and residential population numbers and there is limited comparable product in the immediate vicinity. The transit-oriented location makes it easily accessible to the entire Bay Area. The North Peninsula office market continues to witness a rebound in demand and market activity, according to Newmark Research. During the fourth quarter of 2021, the market recorded its third consecutive quarter of positive net absorption at 425,125 square feet, supported by companies anticipating a return to the workplace post-pandemic. Net absorption for all of 2021 was recordedat 752,331 square feet, the highest annual mark recorded in the last decade. Market-wide vacancy dropped to 10.1% during the fourth quarter, down from 11.5% in the previous quarter. The trend of decreasing vacancy is expected to continue as tenants continue to actively seek out high-quality Class A space and newer construction located in transit-oriented submarkets. The post Newmark to Lease Office and Retail at New Mixed-Use Development in Millbrae, California appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyJun 7th, 2022

LCOR Announces First Ground-Up Project in the South Florida Market

 LCOR, a fully integrated real estate investment, development and management firm, today announced the acquisition of 1775 Biscayne Boulevard, a soon to be 40-story, 540-unit residential building located on the border of the A&E District and Edgewater neighborhood of Miami. While LCOR has been an active investor in the South Florida... The post LCOR Announces First Ground-Up Project in the South Florida Market appeared first on Real Estate Weekly.  LCOR, a fully integrated real estate investment, development and management firm, today announced the acquisition of 1775 Biscayne Boulevard, a soon to be 40-story, 540-unit residential building located on the border of the A&E District and Edgewater neighborhood of Miami. While LCOR has been an active investor in the South Florida and broader Southeastern markets for over 10 years, this acquisition marks LCOR’s first ground-up development in the South Florida region, expanding the firm’s significant multifamily footprint along the east coast. Construction at 1775 Biscayne is projected to begin in early 2024 and is slated for completion and delivery in 2026. “Expanding our multifamily development business into Florida and the Southeast is a key component of LCOR’s strategic growth plan and we’re thrilled that 1775 Biscayne will be our first ground-up project in the region,” said Anthony Barsanti, Chief Executive Officer at LCOR. “As a global city center, Miami aligns well with our core strategy of developing and building within the east coast’s core urban markets.” “Miami is one of the most desirable and culturally significant cities in the country” said Anthony Tortora, Senior Vice President at LCOR. “We’re looking forward to contributing to the Miami community and delivering one of our best-in-class projects to the area.  1775 Biscayne will feature approximately 540 residential units ranging from studios to two-bedroom residences that will be equipped with a myriad of premium features including stainless-steel appliances, in-unit washers and dryers and quartz countertops. Additional amenities to be offered at the property will include a fitness center, rooftop pool deck, an expansive outdoor terrace and grilling space with views of Biscayne Bay and downtown Miami, tenant lounges equipped with flexible co-working spaces and conference rooms, over 600 on-site parking spaces and package retrieval services. Additionally, Wi-Fi will be offered throughout the entirety of the property through Follow-Me Wi-Fi, ensuring devices remain connected regardless of positioning within the building as well as the option to create secure and privatized resident networks. “We are thrilled to have played a role in helping LCOR secure their first development site in Miami, a highly competitive land market currently on the cusp of a transformational development surge,” said Brad Capas, Executive Director, Cushman & Wakefield Capital Markets. “Located at the center of one of Miami’s most exciting growth corridors, 1775 Biscayne will aid in producing critically needed residential offerings between the Miami World Center and Midtown districts.” Located in Miami’s Arts and Entertainment District along Biscayne Bay, 1775 Biscayne offers multiple art, dining and nightlife options as well as access to the waterfront, nightlife and area amenities. Situated on Biscayne Boulevard, proximate to both mass transit and major Miami-Dade highways and thoroughfares, 1775 Biscayne provides quick access to South Beach, key employment centers and the greater South Florida region. The post LCOR Announces First Ground-Up Project in the South Florida Market appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyMay 31st, 2022

Bell Works Chicagoland Announces Heritage-Crystal Clean as Latest Office Tenant 39,000-SF Office Lease

Bell Works Chicagoland, the former AT&T corporate campus and Chicagoland’s first ‘metroburb’ —  a self-contained metropolis in suburbia — today announced it has signed an 11-year lease with Heritage-Crystal Clean (HCC), Inc. (Nasdaq: HCCI), marking the company as the building’s largest tenant to date.  Bell Works Chicagoland will become home... The post Bell Works Chicagoland Announces Heritage-Crystal Clean as Latest Office Tenant 39,000-SF Office Lease appeared first on Real Estate Weekly. Bell Works Chicagoland, the former AT&T corporate campus and Chicagoland’s first ‘metroburb’ —  a self-contained metropolis in suburbia — today announced it has signed an 11-year lease with Heritage-Crystal Clean (HCC), Inc. (Nasdaq: HCCI), marking the company as the building’s largest tenant to date.  Bell Works Chicagoland will become home to HCC’s national headquarters in August 2022. The publicly-traded environmental products and services company will occupy one full quadrant on the building’s third floor, consisting of 32,000 square feet, plus an additional 7,000 square feet of space on an adjacent quadrant. Its offices will be designed by NELSON Worldwide. “The continued interest we’re seeing for our thoughtfully designed spaces is a testament to the needs and priorities of today’s workforce,” said Ralph Zucker, President of Somerset Development, the developer behind Bell Works Chicagoland. “Companies are proactively seeking environments that not only enable their teams to flourish, work collaboratively, and think creatively, but also reflect the core values of their business. Like us, HCC is a company with a deep passion for sustainability and innovation, and we’re excited to welcome them as the newest tenant at our growing metroburb.” Founded with just 12 employees in 1999,  HCC will bring its team of 180 workers from its longtime home in Elgin, Illinois, to the metroburb. The space will support the core functions of the company while simultaneously encompassing HCC’s sustainability-driven mission and the natural surroundings of Bell Works Chicagoland, which includes reclaimed wetlands. Notable features of the headquarters include four custom branding areas, two of which showcase HCC logos made completely out of recycled materials, a testament to HCC’s brand, while the remaining two represent HCC’s vision, mission, values, and customer experience. The floor plan and interior design were thoughtfully prepared to integrate the workspace with the concept of nature and walking through a wooded path, offering employees access to daylight with ergonomic sit/stand desks and chairs placed along the exterior of the layout. A large cafe for gathering and entertainment will be equipped with a ping pong table, TV, and multiple seating arrangements. There will also be built-in cupboards for recycling glass, plastic, paper, and batteries throughout, keeping sustainability a priority on all levels. Customized meeting areas from individual niches to medium-sized conference rooms and a large-scale boardroom will promote flexibility and collaboration throughout the space. “As a National Environmental Services Company dedicated to sustainability and corporate social responsibility, Bell Works Chicagoland was a natural fit when deciding where to relocate our headquarters,” said Brian Recatto, President and CEO at HCC. “The metroburb encompasses all of the priorities and preferences of our team — from highly collaborative, open spaces to flourishing natural light and the surrounding nature-filled landscape. Located just a short distance from our original headquarters, the space will be conveniently located for our staff and set us up for continued long-term success.” Founded in 1999, HCC is a leading provider of parts cleaning, hazardous and non-hazardous waste services, used oil re-refining, antifreeze recycling and field services primarily focused on small and mid-sized customers. Today, the company has approximately 1,400 employees nationwide, with 120 locations and 91 branches across 47 states.  In 2021, Bell Works announced Platinum Home Mortgage (‘PHMC’) signed a long-term lease to join the office community at Bell Works Chicagoland. The company now occupies 22,000 square feet spread across three dedicated office spaces at the metroburb. Headline Solar also recently joined Bell Works’ growing list of office tenants, and occupies 15,690 square feet with another 15,000 square feet available for potential expansion. Other occupants include CPA Advisors Group, a boutique full-service accounting firm; Mosquito Hunters, a locally-owned residential and commercial mosquito control company; and The Next Unicorn, an equity crowdfunding firm. Recently, Bell Works Chicagoland also celebrated the grand opening of coLab, the official coworking membership experience at the property. Spread across 15,000 square feet, the new coworking facility offers flexible lease terms and workspaces, including access to dedicated conference and meeting rooms, lounges, and state-of-the-art amenities. coLab was designed by Paola Zamudio and her team at NPZ Style & Decor, who also led the transformation of the interior at the metroburb.   The metroburb additionally features 60,000 square feet of ground-floor retail and restaurant space, which provides both members and visitors alike with an eclectic mix of dining and entertainment options. Local Chicago favorite Fairgrounds Craft Coffee and Tea also opened at the campus earlier this year.  Sven Sykes, Executive Vice President at Colliers International, represented HCC in the transaction. Steve Kling, Principal at Colliers International, represented Bell Works Chicagoland in the transaction.  For office leasing inquiries at Bell Works Chicagoland please contact Steve Kling at Steve.Kling@colliers.com or Tara Keating at keating@garibaldi.com. To learn more about Bell Works Chicagoland, visit bell.works/chicagoland. The post Bell Works Chicagoland Announces Heritage-Crystal Clean as Latest Office Tenant 39,000-SF Office Lease appeared first on Real Estate Weekly......»»

Category: realestateSource: realestateweeklyMay 19th, 2022