Cluster Sites NYC

Nonprofit overseeing Bronx apartment where toddlers died racked up hundreds of violations BEDCO h爱上海 爱上海同城手机版ad 185 open violations at nearby 1055 University Ave. in the Bronx

1055 University Avenue in the Bronx (Credit: Property Shark)

The nonprofit group that operated a Bronx apartment where two babies died from lethal steam burns had as many as 185 open violations at a 上海贵族宝贝 上海千花网龙凤论坛separate site it supposedly managed.

Following the deaths of Ibanez and Scylee Ambrose, investigators discovered that the Bushwick Economic Development Corp. (BEDCO) had unresolved violations at 1055 University Avenue in the Bronx, a cluster site the the city leases for homeless families. The girls were scalded by a faulty radiator at An Apartment On Hunts Point Avenue.

Investigators from the state Senate Independent Democratic Conference found that BEDCO s violations included mold, lead paint and rodent and roach infestations; some apartments had no smoke or carbon monoxide detectors. According to the report, 38 of 41 cluster sites used by the city for homeless families had open violations.

In December, DNAinfo reported that a Brooklyn landlord repeatedly warned the city that the nonprofit BEDCO routinely ignored safety and maintenance warnings. The landlord, Kai Management, says the Department of Homeless Services ignored its warnings.

A report from City Comptroller Scott Stringer last month that more than half of the 16,026 open violations at all the city s cluster sites are in buildings owned by just 11 landlords. Mayor Bil上海同城对对碰交友社区 上海夜网论坛l de Blasio campaigned on gettin上海千花社区 上海千花网交友g rid of cluster sites, but the number of units has risen during his tenure as mayor.  [NYP] E.B. Solomont

Tags: homeless
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515 West 18th Street

Related上海贵族宝贝交流区 上海贵族宝贝论坛 floats 180 condos for High Line project at 515 West 18th Street City Planning OK’d a mass上海贵族宝贝交流区 上海贵族宝贝论坛ive expansion of Related’s original plans in December
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NYC Gas Crackdown

Credit上海夜网 阿爱上海同城: FDNY via Business Insider

Aft爱上海同城 爱上海er a gas explosion rocked the East Village in 2015, the city cracked down, issuing 2,600 violations for illegal gas lines. But while many buildings are safer, more than 1,000 apartments have had their gas shut off completely due to Department of Buildings violations, according to the New York Post.

“Many buildings are not passing gas-pressure tests, so the gas is being shut down until they do,” a lawyer who represents residents suing their landlords after the shutoffs told the Post.

Many have been without gas for 10 months.

“It’s been shocking to go through this ordeal of trying to have a very simple and essential amenity repaired with very little concern or empathy from anyone for my quality of living,” Kai Ravelson, who rented a one-bedroom in Washington Heights only to discover the Con Edison refused to turn on her cooking gas, told the Post上海夜网 阿爱上海同城.

“If a building is turned off due to a leak . . . it is up to the building owner or other responsible party to hire a contractor and make repairs,” said a spokesman for Con Edison. “The contractor must then get a certification from the . . . Department of Buildings and submit certain paperwork. At that point, we conduct a pressure test. If the piping holds without leaks, gas can be turned back on.” [NYP] Christopher Cameron阿爱上海同城 阿拉爱上海同城

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Donna Olshan

From th上海千花网 爱上海同城对对碰e November issue: The funniest and most insightful comments on real estate.

Tags: funny quotes 上海千花网龙凤论坛 上海千花社区
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80 Broad Street

80 Broad Street and Invesco s Mar阿爱上海同城 阿拉爱上海同城tin Flanagan

Invesco just secured a $102 million mortgage for 80 Broad Street, a FiDi office tower the company bought a controlling stake in earlier this year.

The Atl上海贵族宝贝交流区 上海贵族宝贝论坛anta-based firm purchased a 95 percent stake in the building last month, paying $235 million. Invesco assumed the mortgage from the property s previous owners, Broad Street Development, according to documents filed with the city s Department of Finance. AIG Investments provided the financing.

Representatives for Invesco didn t immediately return a call seeking comment.

Broad Street Development bought the building in 2014 for $175 million. The company retained a 5 percent stake in the 425,000-square-foot tower and continues to manage the property.

In March, The Real Deal reported that Kushner Companies, RFR Realty and LIVWRK bought Invesco out of its stake in a large office and retail complex in Dumbo Heights. The deal was新上海贵族宝贝论坛 上海贵族宝贝交流区 valued at $600 mi上海龙凤论坛sh1f 上海龙凤论坛llion.

Tags: 80 broad street, Invesco Real Estate, Real Estate Finance
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Blackstone Group

From left: Jonathan Gray and Rockpoint s Bill Walton

An investment fund controlled by Blackstone Group bought a passive, minority stake in Rockpoint Gr上海夜网论坛 上海夜网oup, the company announced Tuesday.

Terms of the deal weren’t publicized. The vehicle that made the investment, Blackstone’s Strategic Capital Holdings Fund, falls under the private equity firm’s hedge fund business.

The Boston-based real estate investment firm Rockpoint quietly emerg爱上海同城论坛 爱上海同城ed as one of New York’s most active real estate investors over the past few years.  In recent months, the fund manager agreed to buy上海千花网论坛 上海千花网 the Starrett City complex in Brooklyn with Brooksville Company for $905 million and closed on the $465 million purchase of 1700 Broadway.

In a statement, Blackstone’s newly appointed president Jonathan Gray pointed out that his 上海夜网 阿爱上海同城firm has already worked on several real estate deals with Rockpoint. Scott Soussa, who heads Blackstone’s Strategic Capital Group, called Rockpoint a new “strategic partner.”

Chinese sovereign wealth fund China Investment Corporation (CIC) also just sold its 9.9 percent stake in Blackstone, the Financial Times reported. CIC had paid $3 billion for its stake in 上海龙凤论坛sh1f 上海龙凤论坛2007.

Tags: blackstone group, Commercial Real Estate, rockpoint group
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Amazon HQ2 odds are in Northern Virginia’s favor, according to an online gambling site

Amazon HQ2 odds are in Northern Virginia’s favor, according to an online gambling site

Northern Virginia is the location that’s most likely to be selected as the home of Amazon HQ2, according to online gambling site Bovada’s latest odds. Austin, Boston, 新上海贵族宝贝论坛 上海贵族宝贝交流区Toronto and Atlanta have the next best chances, according to Bisnow, which asserted that the release of the odds has led to an increase in the stock price of 上海龙凤论坛sh1f 上海龙凤论坛Virginia REIT JBG Smith, which owns a proposed site for the Amazon offices in Crystal City and Potomac Yard. [Bisnow]

Tags: National
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MPK 21

Facebook opens mega Menlo Park office amid major expansion The social media giant continues to gobble up real estate despite what has been a difficult summer

Mark Zuckerberg and a model of the project (Credit: Level10GC)

Facebook recorded the biggest one-day drop in its stock value in July, but it has not s爱上海同城 爱上海lowed down its real estate purchases.

The social media giant opened its new 525,200-square-foot office in Menlo Park last week and has big plans to further expand in the Bay Area, according to Bloomberg.

Those plans includ阿爱上海同城 阿拉爱上海同城e leasing over 1 million square feet in San Francisco, including the entirety of John Buck Company’s 43-story Park Tower at Transbay.

It also intends to move into 1.1 million square feet of office space in Sunnyvale and 1.2 million square feet at more than a dozen office buildings in the East Bay area. Its new Menlo Park headquarters, MPK 21, is more than 100,000 square feet larger than its existing office next door.

On July 26, Facebook s stock lost $120 billion in market capitalization after th上海龙凤论坛sh1f 上海龙凤论坛e company said it would miss earnings estimates, and that user growth had slowed down.

Mark Zuckerberg’s now 14-year-old company is plenty busy in Los Angeles, too. As of May, Facebook was nearing an agreement to lease 260,000 square feet at Tishman Speyer’s Brickyard office campus in Playa Vista. That’s more than twice what Facebook planned to lease there in March.

Facebook’s expansion in Menlo Park, once a small in上海千花网交友 上海千花网论坛dustrial neighborhood, will be more cause for headaches among locals who have fiercely criticized the company for driving up prices in the local rental market.

Last summer, the company announced it would develop 1,500 residential units in a 59-acre community. Of those, 225 units will be rented at below-market rates. [Bloomberg] — Dennis Lynch 

Tags: Commercial Real Estate, Facebook
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Amazon HQ2

Inside New York s pitch to Amazon In a joint city and state proposal, sites were offered from Hudson Valley down to 3 World Trade Center and The F新上海贵族宝贝论坛 上海贵族宝贝交流区arley Building

From left: Governor Andrew Cuomo, Jeff Bezos, and Mayor Bill de Blasio (Credit: Getty Images)

A joint New York city and state proposal to lure Amazon to the region suggested using eminent domain to help secure property, according to a report.

As part of the bidding process the stat上海千花网论坛 上海千花网e s Empire State Development and the city s Economic Development Corporation offered up to $3 billion in tax breaks and a dozen sites in the state, including several in the city, according to the Wall Street Journal. Among the city sites offered were the Farley Building in Midtown West, 3 World Trade, and space along the Brooklyn waterfront. The company also had its selection from sites on Long Island and the lower Hudson Valley

The state s ESD also offered to obtain property for the e-commerce giant in a bid to sweeten the deal.

“Subject to public approvals, ESD is empowered to acquire, encumber and dispose of any real property interest, including through eminent domain,” the proposal reportedly stated. “ESD can also override local zoning, offer t上海夜网论坛 上海夜网ax subsidies while holding title to a property, and provide lower-cost financing or grants to economic development projects.”

The proposal was released ahead of a series of City Council hearings on the HQ2 bidding process. The efforts in 2017 has been criticized by local politicians and activists for being conducted in secret.

“We wanted to be fully transparent about actions we have taken on this project to date,” the EDC said in a statement to the Journal.

Amazon, in its selection for a new campus and promises of bringing 上海龙凤论坛 新上海贵族宝贝论坛50,000 employees to the winning bidder, received over 200 applications from across the count上海贵族宝贝 上海千花网龙凤论坛ry but ultimately chose to split the operation between campuses in Long Island City and in Arlington, Virginia.

In Long Island City, the rents were much cheaper than other New York city sites, reportedly ranging from $24 to $49 a square foot. [WSJ] David Jeans 

Tags: amazon, Amazon HQ2, Commercial Real Estate, Politics
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White Plains

A White Plains-based real estate investor shelled out $5.5 million for a shopping center i上海夜网论坛 上海夜网n Stamford, Long Island Business News reported. Long Island-based HRR Investments LLC sold the center on High Ridge Road to the unidentified investor. Tenants at the site — which is fully leased — include the Vitamin Shoppe, Subway and High Ridge Printing Copy Center, according to the out上海千花社区 上海千花网交友let. Mark Krantz and Derrick Dougherty of Marcus Millichap’s Philadelphia office had the listing and brought the buyer, the firm said in a release.爱上海同城 爱上海 上海千花网 爱上海同城对对碰“This site is well positioned within the submarket, as it resides on one of the most prominent retail corridors in Stamford,” Krantz said in a statement. [LIBN]

Tags: Westchester Fairfield
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