Jona Rechnitz

Rechnitz claims China Sonangol thought it bought MetLife Clocktower, not 23 Wall: report JSR Capital head reportedly claimed purchase of FiDi property was “favor” to Lev Leviev

Jona Rechnitz and 23 Wall Street

Chinese billionaire Sam Pa directed conglomerate China Sonangol to buy 23 Wall Street as a favor to Lev Leviev in 2008, according to Jona Rechnitz, the man at the center of a campaign financing scandal that s rocked Mayor Bill de Blasio s administration and the New York City Police Department.

Rechnitz, the founder of JSR Capital, was head of acquisitions f上海千花网论坛 上海千花网or Leviev’s Africa Israel Investments when it sold the Financial District building for $150 million to the Chinese company. New York Post columnist Steve Cuozzo claims Rechnitz told him that Leviev needed the cash fro上海千花网龙凤论坛 上海千花社区m China Sonangol.

In a strange twist to an already odd tale, Cuo上海千花网龙凤论坛 上海千花社区zzo says Rechnitz maintained that the Chinese company was duped into buying 23 Wall when it thought it was purchasing the 50-story MetLife Clocktower at 5 Madison Avenue (which is now the home of the New York Edition Hotel).

The tabloid columnist said he was unable to verify any of Rechnitz s claims, writing that the people who supposedly were able to corroborate the JSR Capital head s claims refused to speak.

Investment sales brokers told the Post that it上海贵族宝贝论坛 上海贵族宝贝 would be impossible for China Sonangol to not know which building it purchased.

Since the 2008 sale, the Financial District building has failed to attract a r[……]

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Zurich Insurance

Zurich inks 132K sf lease at 4 WTC  Insurance giant to relocate from Brookfield’s One Liberty Plaza

Larry Silverstein with 3 and 4 World Trade Center

Insurance giant Zurich American Insurance Company signed a lease for 132,000 square feet at 4 World Trade Center.

The U.S. subsidiary of the Switzerland-based company finalized the deal spanning the 52nd through 54th floors, according to Crain’s, which first reported in May the insurer was eyeing space in the 2.3 million-square-foot building.

Zurich will relocate to the Silverstein Properties building from its current location at Brookfield Property Partners’ One Liberty Plaza across the street, where it has about 170,000 square feet.

That’s a 23 percent reduction in its footprint.

The insurer will make the move to the 72-story tower, which is anchored by the Port Authority of New York and New Jersey, in 2017.

The company was among a group of nearly two dozen insurers with policies on the World Trade Center that fought tooth and nail with Silverstein over billions of dollars of payouts following the 9/11 attack爱上海 爱上海同城手机版s. The legal battle上海千花社区 上海千花网交友 was settled in 2007.

Other tenants that have signed onto the building include software firm MediaMath, which inked a lease for more than 100,000 square feet, and the high-frequency trading firm Hudson River Trading.

Silverstein opened 4 World Trade Center in late 2013. The developer plans to complete 3 World Trade Center next上海贵族宝贝论坛 上海贵族宝贝 door in 2018, and is still searching for an anchor tenant for the[……]

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NYC Residential Market

6 things you need to know about 2016 s Manhattan resi market Average condo prices will fall in 2017, CityRealty predicts

Total Sales by price, year by year (Credit: CityRealty)

Average apartment prices in Manhattan hit a record of $2.2 million in 2016, thanks in part to closings at ultra-luxury condominiums such as 432 Park Avenue and 150 Charles Street. That s according to a new report from CityRealty, which also predicted that condo prices next year would dip slightly for the first time in five years.

The averag爱上海龙凤419桑拿 上海龙凤论坛sh1fe sales price of a Manhattan condo in 2016 was $3.1 million, according to the report, up 19 percent year-over-year from $2.6 million. The average price per square foot was $1,886, compared to $1,735 in 2015.

The median price for all apartments also reached a new high of $1.2 million, up from $1.1 million in 2015.

By Dec. 31, around $25.8 billion worth of Manhattan residential real estate will have changed hands, CityRealty predicts. That’s up from $24.6 billion last year.

Gabby Warshawer, director of research at CityRealty, said while “prices are bonkers,” the data for the year is skewed by closings of super-pricey purchases made in prior years.

“It really is a distortion,” said Jonathan Miller, CEO of appraisal firm Miller Samuel. “A 上海千花网 爱上海同城对对碰record is a record, it’s just what it symbolizes. What I think it symbolizes is market conditions and mix of sales over a few years.”

Here’s a look at some of the highlights from the report, which has projections based on clos[……]

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Franklin Street Brooklyn Retail

Retail asking rents rise in Greenpoint and DoBro, dip in W’Burg: report New residential development driving retail rent growth

Retail spaces for rent at 49 and 252 Franklin新上海贵族宝贝论坛 上海贵族宝贝交流区 Street in Greenpoint (credit: Agorafy)

Retail asking rents in Greenpoint and Downtown Brooklyn are on the rise thanks to an influx of new residential developments. And Williamsburg’s Bedford Avenue, which saw a similar pattern years ago, is watchin上海夜网 阿爱上海同城g asking asks fall as tenants become increasingly wary of higher prices and the impending L Train shutdown.

The biggest rent growths in the borough were 上海贵族宝贝论坛 上海贵族宝贝seen on Greenpoint’s Franklin Street, where ground-floor asking rents jumped 42 percent year-over-year to $89 per square foot, and Downtown Brooklyn’s Fulton Street, which saw asking rents climb 8 percent to $325 per square foot, according to a new report by GFI Realty Services cited by the Wall Street Journal.

Williamsburg’s Bedford Avenue, on the other hand上海千花网交友 上海千花网论坛, saw asking rents drop 18 percent to $295 per square foot, according to the study.

Retailers are waiting to see where asking rents will go after they shot up rapidly, and the planned partial shutdown of the L Train in 2019 has added to the decline, said GFI president Michael Weiser. Brooklyn, he added, has been “under-retailed from a national perspective” for years, but is catching up.

Residential condominiums are averaging roughly $1,400上海夜网 阿爱上海同城 per square foot. In Greenpoint, where condos average more than $1,200 per square foot, mo[……]

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NYC Market Reports

Manhattan ties with a small city in Texas for biggest rent drop in the nation A weekly feature bringing you the industry’s latest intel

(Click to enlarge)

According to this w新爱上海同城对对碰论坛 上海同城对对碰交友社区eek’s market reports, Manhattan had the nation’s biggest residential rent decrease but remains the most expensive city to rent, and office rents stayed stable at $73.12.

Residential

Rental Report | MNS
Dumbo had the most expensive rent in Brooklyn in July for studios, and one- and two-bedrooms, averaging $3,265, $3,896 and $6,059 respectively. The two-bedroom price is a 6 percent decline from last year July, the borough’s biggest decline上海龙凤论坛 新上海贵族宝贝论坛. Read the full report for Brooklyn, Manhattan and Queens for a neighborhood breakdown.

Apartment market report | Rent Cafe
Manhattan tied with the city of Lubbock, Texas, for the biggest rent decrease in the nation in July, registering a 3.1 percent year-over-year slide to $4,054 per month. Brooklyn came in at No. 7, with a 1.6 percent decrease to $2上海龙凤论坛sh1f 上海龙凤论坛,712. For comparison, the national average rose 1 percent to $1,350. Read the full report here.

Luxury sales | Olshan Realty
Eighteen contracts were signed last week at $4 million and above, the top five of which were new development units, all priced above $14 million. The total asking dollar volume was $209 million. Read the full report here.

Commercial

Office snapshot | Colliers International
In July, 3.2 million square feet of office space was leased, up 10.2 percent from July 2015. Pricing stayed relati[……]

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Moishe Mana

Moishe Mana, unplugged: Investor dishes on his plans for Wynwood, unloads on POTUS He detailed his vision for Wynwood and spoke out strongly against President Trump

Moishe Mana at The Real Deal s South Florida Real Estate Showcase Forum

What’s Moishe Mana’s rationale for gobbling up large swathes of land in Wynwood and picking up trophy properties along Flagler Street? Mostly, his desire to reshape the city into a global cultural and trade hub, the investor told a standing room only crowd on Thursday during The Real Deal’s fourth annual South Florida Real Estate Showcase Forum at SoHo Studios in Miami.

“Our job is about community building,” Mana said. “Being a catalyst for Miami. I know it is very presumptuous. But we are doing it everyday.”

Mana kicked off the event with a one-on-one with TRD s South Florida Managing Editor Ina Cordle, talking extensively about his acquisition strategy in Miami. He also discussed why he emerged as one of President Trump’s most prominent critics from the real estate industry.

“When he was ch上海千花网交友 上海千花网论坛osen to be the Republican nominee, I declared it the moral bankruptcy of America,” Mana said. “We have to endure his craziness and all his crazy ideas. He is doing destructive things on all kinds of issues.”

He also related the discrimination his family faced as Jews in Iraq before emmigrating to Israel to the current climate in the Trump era toward minorities and immigrants.

In Wynwood, Mana has amassed 40 acres where he pl上海贵族宝贝 上海千花网龙凤论坛ans to build the Mana W[……]

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Facebook

Facebook expands to over 500K sf at Vornado’s 770 Broadway Social media giant inks 78K sf lease at the Midtown South building

770 Broadway and Mark Zuckerberg (Credit: Vornado and Alessio Jacon via Flickr)

Facebook signed a 78,000-square foot lease at Vornado Realty Trust’s 770 Broadway, expanding its foo阿拉爱上海同城 爱上海龙凤419桑拿tprint in the building to 513,000 square feet.

Vornado’s 爱上海 爱上海同城手机版CEO Steve Roth announced the deal during an earnings call Tuesday, Commercial 阿拉爱上海同城 爱上海龙凤419桑拿Observer reported. The real estate investment trust freed up the space by buying Kmart out of its lease for the floor Facebook is taking. The retailer will still occupy 82,000 square feet in the landmarked, 1 m爱上海同城 爱上海illion-square-foot building in Midtown South.

The Real Deal reported last month that Vornado was working on clearing space in the buildi爱上海同城论坛 爱上海同城ng to allow Facebook to expand.  The social media giant now has a total of 513,000 square feet.

On the call, Roth dismissed reports claiming he opposed federal funding for the Gateway tunnel project and called it “far and away the most important” infrastructure project for the New York region. He said he expects the New York commercial real estate market to stay “flat-ish” in 2018 amid a strong office market and struggling retail sector.

Vornado is also officially planning to sell its stake in 666 Fifth Avenue, which it co-owns with Kushner Companies. [CO] Konrad Putzier

Tags: 770 broadway, Commercial Real Estate, facebook, Office Leasing, Vornado Realty Trust
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East Quogue golf course proposal could face zoning roadblock

A plan for a golf course in East Quogue could violate current zoning rules, according to critics. The developers, Discovery Land Company, had previously proposed a golf course on the plot, but that was shot down. The current plan, like the one before, would include 118 homes and a nearly 600-acre golf course. The deve上海千花网论坛 上海千花网lopers argue that the plan is covered by a little-used town provision for reside爱上海 爱上海WIFIntial amenities.  [The Southampton Press]

Tags: Hamptons
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DTLA Business

LA business owners hope “LeBron effect” will be a slam dunk for their bottom lines Ticket prices for the Lakers are already rising

LeBron James and the Los Angeles skyline (Credit: Getty Images上海龙凤论坛sh1f 上海龙凤论坛, iStock)

UPDATED, October 20, 9:43 a.m.: As LeBron James kicks off his first season as a Los Angeles Laker, bar and restaurant owners in Downtown Los Angeles are hoping to begin a new era for their businesses.

Business owners in the surrounding neighborhoods abutting the Staples Center are hoping for the so-called “LeBron effect” — a boost in busin阿拉爱上海同城 爱上海龙凤419桑拿ess thanks to increased interest in the famous basketbal上海千花网龙凤论坛 上海千花社区l player — to take shape as the NBA star puts on his shiny purple-and-gold jersey, Downtown News reported.

Some bars, such as Prank, will even serve LeBron-inspired cocktails. Another will place a caricature of James on its wall. Others will offer special deals for those who come bearing jerseys.

Hopeful owners look to Cleveland as an example. James is credited for bringing a highly-welcomed boost to Cleveland’s economy with bars, restaurants and other shops nearby the arena experiencing a surge in business during his 11-year stint as a Cavalier.

But the effects in L.A. might not be as drastic as Cleveland, some warn. Unlike Cleveland, Lakers games already tend to have a high attendance rate regardless of how they are performing.

That said, some online ticket resellers are already noticing a change. StubHub.com has seen average ticket prices for Lakers jump as much[……]

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RXR Realty scores $53.9M loan for Village Square project in Glen Cove

RXR Realty won financing from from M T Bank for the developer’s Glen Cove mixed-use development project called Village Square, Long Island Business News reported. The bank provided a $53.9 million con上海夜网论坛 上海夜网struction-to-permanent mortgage l上海同城对对碰交友社区 上海夜网论坛oan. When finished, the 2.8-acre Village Square will have 146 rental ap上海龙凤论坛sh1f 上海龙凤论坛artments, 17,500 square feet of retail space. The project is near RXR’s $1 billion Garvies Point development, which is also under construction. That proj上海贵族宝贝 上海千花网龙凤论坛ect will transform 60 acres of industrial sites to 1,100 homes, with about 75,000 square feet of retail and office space and 28 acres of waterfront parks. [LIBN]

Tags: long island
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