Home of former Gray Lady managing editor listed for $2.77M

We won’t bury the lede: The former Water Mill residence爱上海同城手机版 新爱上海同城对对碰论坛 of Arthur Gelb, a legendary上海千花社区 上海千花网交友 managing editor at The New York Times, has hit the market for $2.7爱上海龙凤419桑拿 上海龙凤论坛sh1f7 million. It last traded hands for $2 million in 2007, the New York Post reported. Spanning 2,550 square feet, the 上海千花网 爱上海同城对对碰five-bed, four-bath waterfront home features a pool and a dock on Mill Pond. Maryanne Horwath and Michael Shaheen上海千花社区 上海千花网交友 of Douglas Elliman share the listing. [NYP]

Tags: Hamptons
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Building manager who displayed Nazi posters arrested Condo lobby featured Confederate, Nazi imagery

From left: Outside 47-55 39th Place in Sunnyside and the building s lobby (credit: Council member Jimmy Van Bra上海贵族宝贝 上海千花网龙凤论坛mer s office)

A property manager who displayed Nazi and Confederate posters in his building s lobby was arrested Sunday for allegedly harassing and stalking a tenant.

Neal Milano, 70, is accused of repeatedly following a 43-year-old woman who lived at t新爱上海同城对对碰论坛 上海同城对对碰交友社区he condominium building at 47-55 39th Pla爱上海龙凤419桑拿 上海龙凤论坛sh1fce, the Wall Street Journal reported. Milano, who served as the building s property manager, also allegedly scared the 上海千花社区 上海千花网交友woman by pulling on her arm at least once.

The New York City’s Commission on Human Rights is investigating the Sunnyside building to see whether it created a hostile environment for tenants. The building s lobby was decorated with posters of Adolf Hitler, a swastika, a cartoon of an African-American next to the words “The Original Jim Crow” and Benito Mussolini.

An爱上海同城对对碰 爱上海同城论坛 attorney for the condo board, Jacob Laufer, said the board approved the images displayed in the lobby to represent U.S. history and World War II. [WSJ] — Kathryn Brenzel

Tags: Residential Real Estate
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999 Third Avenue

Zucker Organization shops divided
Urban Outfitters space Company decided t上海千花网 爱上海同城对对碰o offer option of split爱上海同城 爱上海ting up 20K store

999 Third Avenue (Credit: Google Maps)

Earlier this year, Urban Outfitters left its nearly 20,000-square-foot outpost at 999 Third Avenue in Lenox Hill. Now, the building s owner, the Zucker Organization, is marketing the vacant shop as multiple spaces, rather than as a lone, three-story store.

Representatives for Zucker declined to disclose asking rent for the 17,500-square-foot space, but sources said the ground floor is asking $300 per square foot, the second floor $125 per foot and the lower level $65 per foo爱上海同城对对碰 爱上海同城论坛t. The space is being marketed in-house by Josh Roth.

Chopping up larger retail spaces has become relatively commonplace in the city, as many stores struggle to keep up with high rents and the ever-present threat of e-commerce. Landlords have also increasingly offered incentives to tenants, such as free rent and paying for renovations, to combat rising vacancy rates. Still, Laurie Zucker, vice chair of the Zucker Organization, said her company hasn t dabbled in concessions.

The market will tell you where you need to be, and as long as you listen, you ll be su爱上海同城论坛 爱上海同城ccessful, she said. A lot of people play the game — they ll give you concessions, they ll contribute to paying for the tenant s installation. We find if the rent s appropriate, you don t need to do that.

In March, one month before Urban Outfitters vacated its space, its chief[……]

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Shawn Elliott Luxury Homes

Nest Seekers expands to Long Island with brokerage acquisition Manhattan-based firm is acquiring Shawn Elliott Luxury Homes and Estates

Shawn Elliott (credit: LinkedIn) and Eddie Shapiro

UPDATED, Dec. 18, 4:17 p.m.: Nest Seekers International acquired the Long Island-based brokerage Shawn Elliott Luxury Homes and Estates in a deal that expands the firm’s reach to the Gold Coast.

Shawn Elliott, founded in 2002 by the eponymous broker, serves Old Westbury, Brookville, Oyster Bay Cove, Roslyn and Woodbury among other towns. The firm claims to have 40 agents.

In a爱上海龙凤419桑拿 上海龙凤论坛sh1f statement, Nest Seekers CEO Eddie Shapiro called the Gold Coast a “critical point between New York City and the Hamptons. 新上海贵族宝贝论坛 上海贵族宝贝交流区It’s a missing piece that completes a regional picture for us.”

In 2014, Shawn Elliott opened an office inside a Rolls Royce showroom in Jericho.

Nest Seekers, which has about 800 agents in 20 offices, is a major player in Manhattan’s luxury condo market, largely through its star broker Ryan Serhant. In July, Serhant’s team took over the sales at Greenland Forest City’s development 550 Vanderbilt in Prospect H上海贵族宝贝论坛 上海贵族宝贝eights. Over the summer, his team lost several key agents. Konrad Putzier

Note: A previous version of this post noted that the Shawn Elliott s website lists 21 agents. A spokesperson has since told TRD that the 上海贵族宝贝 上海千花网龙凤论坛website is not up-to-date and that the firm has 40 agents.

Tags: eddie shapiro, Nest Seekers International, Residential Real Estate
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Kevin Crane

Pacific Union broker identified as shooter in Th上海贵族宝贝论坛 上海贵族宝贝ousand Oaks mall killing Kevin Crane shot and ki爱上海同城论坛 爱上海同城lled his ex-wife after an argument, police say

Kevin Crane (Credit: Aaron Kirman Partners)

UPDATED, 11:07 a.m., March 19: The man police say shot and killed his ex-wife at a Thousand Oaks mall on Saturday has been identified as Kevin Crane, a broker at Pacific Union.

Crane, 33, reportedly shot his ex-wife, 上海千花社区 上海千花网交友29-year-old Parisa Siddiqi, while she was working at a retail store in The Oaks mall on Saturday following an argument.

Crane then shot himself, but survived and was in critical condition as of Sunday, according to the Associated Press. The couple had two children, who were found unharmed, according to Ventura County Sheriff’s Office.

Crane had been part of A上海龙凤论坛sh1f 上海龙凤论坛aron Kirman s team at Pacific U爱上海 爱上海同城手机版nion.

In December, Crane represented rapper Big Sean on his $8.7 million purchase of the former home of Guns ‘N Roses guitarist Slash. He was previously with Compass. [AP] – Dennis Lynch 

This is a developing story.

Correction: An earlier version of this story provided an incorrect description of the firm where Crane worked.

Tags: Re, Thousand Oaks
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ReMax Earnings

Re/Max took in $53M in revenue during 2018’s上海千花网 爱上海同城对对碰 first quarter Operating expenses, agent count and ea爱上海 爱上海同城手机版rnings were all higher than in 2017

Re/Max s Adam Conto爱上海 爱上海同城手机版s

Re/Max Holdings Inc. took in $52.6 million of revenue in the first quarter of 2018, an 11 percent increase from the first quarter of 2017.

The company’s agent count 上海千花网龙凤论坛 上海千花社区rose as well to 120,821, a 6.2 percent boost, according to Inman. Its growth was anchored by higher revenue from its annual agent conference, increasing home prices and an expansion of its mortgage franchise Motto. The firm also acquired the real estate tech company booj.

Operating expenses at Re/Max went up in the first quarter of 2018 as well, rising 19.3 percent to $38.9 million due largely to higher operating, administrative and selling expenses.

Re/Max CEO Adam Contos told Inman that the company’s “network of highly productive agents combined with our differentiated business model gave us a built-in and unique competitive advantage.”

Realogy Holdings yesterday announced a $67 million lo新爱上海同城对对碰论坛 上海同城对对碰交友社区ss, which executives attributed to a slowdown in new development sales and higher commissions at its NRT division. [Inman] – Eddie Small

Tags: Residential Real Estate
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US Homeownership Rate

Homeownership rate is at 1990s levels, and it’s only getting tougher for Americans to buy homes It’s harder to buy a home now than it was before the Great Recession

(Credit: iStock and pngimg)

The home ownership rate in the country has declined precipitously since its peak more than a dozen years ag上海千花网龙凤论坛 上海千花社区o. And ever since the recession, it’s been harder for Americans to buy homes.

The home ownership rate in April stood at 64.4 percent, ac爱上海同城对对碰 爱上海同城论坛cordin上海千花网论坛 上海千花网g to figures from the Census Bureau reported by the Wall Street Journal.

That’s roughly on par with levels from the mid-1980s and mid-1990s, before a decade-long home-buying boom drove the rate to a peak of 69.4 percent in April 2004.

But a confluence of factors is making it more difficult to buy a home now than it was a decade ago. Lenders are pulling back from making mortgages, and developers haven’t added enough new supply after getting stuck with a glut of inventory last time around.

Meanwhile, home prices are rising fastest for lower-priced properties — the kind first-time homebuyers are most able to afford. And the median age of a homebuyer last years 45, which is the highest its been in more than three decades.

However, Bloomberg reported that the home ownership rate among young adults is ex爱上海同城手机版 新爱上海同城对对碰论坛pected to rise to 58.1 percent by 2025. [WSJ] — Rich Bockmann


Tags: homeownership, Housing Market, Residential Real Estate
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Elon Musk

Elon Musk gears up to unveil Hawthorne test tunnel Big reveal comes 2 years after tech entrepreneur first tweeted the idea

Elon Musk (Credit: Getty Images and iStock)

It’s been two short years since Elon Musk famously tweeted that he was going to “just start digging” in Los Angeles to avoid the gut-wrenching traffic.

While the social media network hasn’t always proven the most rewarding outlet for the outspoken tech entrepreneur, it did pave the way for 上海千花社区 上海千花网交友tonight’s big reveal.

After several months of work, his company, the Boring Co., is scheduled to unveil its first tunnel Tuesday, the Los Angeles Times reported. The launch was delayed from Dec. 10.

Located in Hawthorne, the test tunnel will transport autonomous vehicles that can travel at speeds up to 155 mph. In a tweet, Musk said that the opening would include “modded but fully road legal autonomous cars” and “ground to tunnel car elevators.”

In January, the Boring Co. purchased a modest home in Hawthorne where they could install the car elevator. Beneath the garage of the home on West 119th Place, they built an elevator that links to an underground test track, so engineers could practice raising and lowering the vehicles onto the platforms, called “skates.”

There will also be a medieval-style tower at the launch, and actors dressed in medieval attire, Fortune reported.

The test tunnel is about a阿拉爱上海同城 爱上海龙凤419桑拿 mile long, shorter than the two-mile-long tunnel originally planned. It starts in a parking lot near SpaceX headquarters,[……]

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Starwood Property Trust

Starwood expects to boost offshore investing as US economy slows REIT reported a 10.5% drop in net income in 2018, to $359M

Barry Sternlicht Chairman of Starwood Capital Group (Credit: Wikipedia)

Starwood Property Trust’s Barry Sternlicht told analysts the real estate investment trust increased its offshore spending in 2018, particularly in the beer-drinking countries of Europe, and expects to continue investing internationally this year as the U.S. economy keeps slowing.

On Thursday, the REIT, an affiliate of Miami Beach-based Starwood Capital, reported a drop in profits in 2018, a year in which it invested a record $11.6 billion, up 58 percent compared to 2017.

In 2018, Starwood’s net income totaled $358.8 million, or $1.42 per share, down 10.5 percent year-over-year. Its fourth quarter earnings dipped only slightly, down 0.5 percent to $92.1 million or 33 cents per share.

Its core earnings in the fourth quarter tota上海龙凤论坛 新上海贵族宝贝论坛led $155.4 million, or 54 cents per share, meeting analysts’爱上海 爱上海同城手机版 expectations. For the full year, Starwood’s core earnings totaled $608.1 million, or $2.19 per share.

The REIT has nearly $900 million in offshore investments, mostly in northern Europe, and committed to $450 million in February, said Sternlicht, chairman and CEO.

In 2018, the company lowered its borrowing costs, creating a larger cash cushion that will allow it to act quickly on deals without raising new debt or equity. Starwood expects to sell some of the more senior bonds we ve held onto, incre[……]

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New Development Marketing

As the sector struggles and units take longer to sell, brokers (and firms) specializing in new condos are doing more, but getting paid less

The developers of 111 Murray Street had reason to celebrate this fall after pulling off a $650 million loan that would partially refinance unsold units at the 800-foot condo tower.

But for brokers selling the $1 billion condo project — which is reportedly 80 percent sold — the loan is a heavier load to bear.

Discounts and longer marketing time for condos mean smaller paychecks for new development brokers, who are also being forced to stretch marketing dollars — in some cases one or two years longer than planned. “You’re sitting there and losing money if you’re not transacting or putting deals in contract,” said one top agent who put the luxury slowdown in bleak terms when it comes to brokerage earnings and profits.

New development is often seen as an overnight path to riches — but in today’s market that’s a false narrative, veteran brokers said.

Compass President Leonard Steinberg said that when he worked on 150 Charles — where buyers inked contracts for $750 million worth of apartments in three months — other agents viewed the project as an overnight success. He reminded them, however, that he started working on the project seven years earlier.

“We paused with the recession. We worked without contracts for a while,” he said. “The day we got paid was 10 years to the date we first started working on it.”

These days, brokers are spinning their w[……]

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