JLL NYC

JLL acquires development-consulting firm Merritt Harris Firm specializes in assessing projects like One Vanderbilt, Hudson Yards for investors

In the latest escalation in the arms race against rivals like CBRE, JLL’s project and development group has acquired a consulting firm to buff up its growing construction ma爱上海龙凤419桑拿 上海龙凤论坛sh1fnagement business.

The real estate services firm will fully integrate Merritt Harris, a construction-consulting firm that specializes in assessing properties for lenders and investors and monitoring construction as it progresses to ensure the projects stay on budget and schedule.

Merritt has o爱上海 爱上海同城手机版ffices in New York, South Florida and Los Angeles. Projects in New York have include SL Green Realty’s 1.6 million-square-foot Midtown East office tower One Vanderbilt, the office towers at Related’s Hudson Yards and Silverstein Properties’ World Trade Center tower阿拉爱上海同城 爱上海龙凤419桑拿s 3 and 4.

“We have done property condition assessments, but it’s not our expertise,” said George Ladyman, director of JLL Projects, which currently advises clients on One Bryant Park and the Bank of America Tower. “Merritt and Harris will be adding great depth to our current platform.”

JLL declined to disclose the acquisition price. JLL will absorb Merritt’s 40 employees and drop the company’s name, fully integrating it into the projects group.

The deal will help JLL compete for clients in the sector with rivals like CBRE, which two years ago acquired the White Plains-based consulting company IVI International.

JLL ranked sixth among the nation’s top construction management firms last year with $1 billion in revenues, according to the website Engineering News-Record. CBRE ranked eighth, with $606 million in revenues.

Both JLL and CBRE, meanwhile, are looking to build their presence in Saudi Arabia, as the Gulf nation shifts its economy away新爱上海同城对对碰论坛 上海同城对对碰交友社区 from energy exports amid lo爱上海同城手机版 新爱上海同城对对碰论坛w oil prices.

Merritt  Harris president and CEO Manny Kratsios said the deal with JLL helps the firm expand its reach into other markets.

Tags: CBRE, JLL
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One Wall Street

Rendering of Whole Foods at One Wall Street (credit: DBOX for Macklowe Properties)

Like Williamsburg, One Wall Street is now officially over. Harry Macklowe landed Whole Foods as a retail tenant at his Financial District condo conversion project. The upscale grocery store chain will occupy 44,000 square feet in the building.

The new store will likely op上海贵族宝贝论坛 上海贵族宝贝en in 20上海贵族宝贝 上海千花网龙凤论坛18, the Commercial Observer reported. Macklowe Properties bought the 1.45 million-square-foot office building from Bank of New York Mellon for $585 million, and in January the Landmarks preservation Commission approved the property’s $1.5 billion conversion into a Robert A.M. Ste爱上海龙凤419桑拿 上海龙凤论坛sh1frn-designed condo building. Last month, Macklowe tapped CORE to market the apartments in the increasingly residential neighborhood. Sales are expected to launch in 2017, with 524 units designated for rentals and condos.

Macklowe has earmarked 155,000 square feet of the building as retail space, meaning even after the Whol上海千花网交友 上海千花网论坛e Foods lease he still has a big chunk to fill. RKF s Robert K. Futterman, Jaclyn Totolo, Peter Whitenack and Scott Zinovoy are marketing the space.

Whole Foods operates eight stories in the city already, and the company has signed leases at Jeff Sutton s 100 West 125th Street in Harlem and 1095 Sixth Avenue in Midtown. [CO] Konrad Putzier 

Tags: Harry Macklowe, one wall street, whole foods
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Airbnb NYC

Cuomo signs bill banning illegal Airbn爱上海龙凤419桑拿 上海龙凤论坛sh1fb listings $30B startup vows to fight back in court

Map of Airbnb listings (credit: Inside Airbnb) and Andrew Cuomo

Gov. Andrew Cuomo signed a bill into law Friday that prohibits New Yorkers from adv上海夜网 阿爱上海同城ertising illegal listings on home-sharing websites like Airbnb, which has pledged to fight back with legal action.

The bill sat on Cuomo’s desk for months after the state Legislature approved it in June, while Airbnb waged a campaign to persuade the governor to veto the measure ahead of the Oct. 29 deadline.

Cuomo signed the bill Friday, citing concerns critics have argued regarding affordable housing and foregone tax revenue, according to the New York Daily News.

This is an issue that was given careful, deliberate consideration, but ultimately these activities are already expressly prohibited by law, Cuomo spokesperson Richard Azzopardi said as he announced the bill signing.

They also compromise efforts to maintain and promote affordable housing by allowing those units to be used as unregulated hotels, and deny communities significant revenue from uncollected taxes, the cost of which is ultimately borne by local taxpayers, Azzopardi added.

Airbnb, which in August was valued at $30 billion, said it would be filing a lawsuit Friday afternoon.

“In typical fashion, Albany back-room dealing rewarded a special inte上海夜网论坛 上海夜网rest the price-gouging hotel industry and ignored the voices of tens of thousands of New Yorkers.” Josh Meltzer, head of public policy in New York for Airbnb, said in a statement. “A majority of New Yorkers have embraced home sharing, and we will continue to fight for a smart policy solution that works for the people, not the powerful.”

The new law imposes fines of up to $7,500 per incident for those who advertise short-term rentals that violate the state’s 2010 multiple dwelling law.

In response to Cuomo s decision, Real Estate Board爱上海同城论坛 爱上海同城 of New York president John Banks said the new law “is an important step toward stopping illegal behavior that takes precious housing units off the market, threatens hotel workers’ jobs and hurts the quality of life for residents in our city’s multifamily buildings.”

Airbnb has been in a public policy fight with the likes of the Hotel and Motel Trades Council and lawmakers who oppose the San Francisco-based startup.

The Real Deal last year found that the short-term rental website was pushing up rents in certain neighborhoods. [NYDN] – Rich Bockmann

Tags: airbnb, Andrew Cuomo, short term rentals
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Cipriani Waterline Square

Cipriani family plans to open food ha上海贵族宝贝交流区 上海贵族宝贝论坛ll at
Waterline Square megaproject Family behind famed restaurants will open 28K sf market at GID’s 2 Waterline Square

From left: GID s James Linsley, Giuseppe Cipriani and renderings of Waterline Square (Credit: Noe Associates with The Boundary)

The Cipriani family plans to open a food market at GID Development Group s W上海千花网 爱上海同城对对碰aterline Square megaproject on the Upper West Side.

The family behind the famed restaurants signed a lease to open a 28,000-square-foot food hall with a market, restaurants and fast-casual options at 2 Waterline Square, GID announced Monday. Kohn Pedersen Fox is designing that building, one of three condominium towers GID and partner Henley Holding Co. are developi爱上海同城手机版 新爱上海同城对对碰论坛ng in Waterline Square.

Mitch Friedel at Newmark Knight Frank negotiated on behalf of GID, while Barry Goodman also of Newmark represented Cipriani.

GID and Henley, a subsidiary of the Abu Dhabi Investment Authority, landed more than $1.2 billion in construction financing in November 爱上海同城对对碰 爱上海同城论坛from a consortium of lenders. It s one of the largest construction loans of this cycle. The project features a total of 1,132 residential units.

GID and Henley are targeting a sellout north of $1 billion for three condominium towers, according to an offering plan accepted in late May by the New York State Attorney General s office.

The Cipriani family also plans to open a hotel in the South Street Seaport by the end of the year at 33 Peck Slip.  Rich Bockmann

Tags: cipriani, Commercial Real Estate, Development, GID Development
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Cushman Wakefield NYC

Cushman teams up with MetaProp to find new real estate technologies Tech accelerator 上海同城对对碰交友社区 上海夜网论坛has already ev上海贵族宝贝 上海千花网龙凤论坛aluated 100 opportunities for the firm

From left: MetaProp’s Aaron Block and Cushman’s Adam Stanley

Cushm阿爱上海同城 阿拉爱上海同城an Wakefield is teaming up with the tech accelerator MetaProp to find new real estate technology companies that could boost its business.

During the past few months, MetaProp has evaluated 100 opportunities as an adviser to Cushman including parking technologies as well as services using artificial intelligence and robotics, the Wall Street Journal reported. The new deal with Cushman formalizes the relationship.

“We believe that the top practitioners across all of our service lines will increasingly need to get exposed to new technologies to meet demand from increasingly tech-savvy clients,” Adam Stanley, Cushman’s global chief information officer, wrote in an email. “Our industry is changing at an incredible ‘catch up’ speed and we want to lead that transformation.”

Cushman is looking for new technologies that could become pilot programs, partnerships and opportunities for investments and acquisitions, the Journal reported. Cushman expects MetaProp to connect the firm with entrepreneurs and real estate-focused startups beyond the reach it already has through relationships with large tech companies like Microsoft and Salesforce.com.

“We want to be able to Have A View Into Potentially Disruptive Plays Coming Dow上海千花社区 上海千花网交友n The Road,” Stanley said.

MetaProp in June disclosed it was looking to raise $25 million for a new real estate tech fund. [WSJ] – Rich Bo爱上海同城手机版 新爱上海同城对对碰论坛ckmann

Tags: Cushman Wakefield, Tech
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Buying Property Overseas

Looking to buy property overseas? These countries don t want your m爱上海同城对对碰 爱上海同城论坛阿拉爱上海同城 爱上海龙凤419桑拿oney New Zealand is the latest country to clamp down on foreign investment

(Credit: Seth Werkheiser,上海贵族宝贝论坛 上海贵族宝贝 Casey Allen via Pexels)

If you re looking to purch阿爱上海同城 阿拉爱上海同城ase property overseas, the options are becoming increasingly limited.

New Zealand is the latest country to clamp down on foreign real estate investment, citing c上海龙凤论坛sh1f 上海龙凤论坛oncerns over dirty money and an affordable housing crisis, as the Wall Street Journal reports.

But several countries across Asia, Europe and even North America have adopted similar measures to cool off their booming housing markets in the past decade. Canada, the United Kingdom, Switzerland and New Zealand are just a handful of the nations to use instruments, such as tax hikes, reduced access to credit, and zoning, to curb the influx of overseas buyers and prioritize locals.

There are a few notable exceptions, however. The Maldives, which is heavily reliant on tourism, has cautiously welcomed foreign capital as a means of bringing more foreign direct investment into the country. [WSJ]–Patrick Mulholland

Tags: global real estate, Real Estate Finance, Residential Real Estate
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London Real Estate

Foreign buyers are still splurging on these pricey London properties Despite Brexit, the city continues to be a good long-term bet to overseas buyers

(Credit: Ray Lowry via Ian Burt/Flick; Pixabay)

Foreign buyers have poured money into pricey London properties recently. Nearly £400 million, or $520 million, to be exact.

One Chinese buyer spent £105 million, or $136 million, on a penthouse and another unit at One Grosvenor Square, reported the Sunday Telegraph. It was once the U.S. embassy and later home to the Canadian High Commission. Another property in the same development, the Ambassador’s House, sold for about £50 million, or $65 million. Yet another buyer shelled out £55 million, or $71 million, at British Land’s Clarges, the report said. Oh, and one of the penthouses at the Mandarin Oriental hotel in Mayfair got an offer around £30 million, or $39 million.

The string of high-end deals for central London properties comes amid a tough market, proving to Savills’ Edward Lewis that foreign buyers still view London as an attractive long-term investment.

There are plenty of 阿拉爱上海同城 爱上海龙凤419桑拿shiny apartments and lovely terraced houses out there,” Lewis told the Telegraph, “but sometimes新爱上海同城对对碰论坛 上海同城对对碰交友社区 when more rare and unique stock comes through, that’s selling more quickly.”

London has also attracted foreign investors to its commercial properties. Des新上海贵族宝贝论坛 上海贵族宝贝交流区pite uncertainties surrounding Brexit, overseas buyers spent more on commercial property in the city in the first half of this year than in central Paris, Manhat新上海贵族宝贝论坛 上海贵族宝贝交流区ta上海贵族宝贝 上海千花网龙凤论坛n, Munich and Frankfurt combined. [Telegraph] — Meenal Vamburkar

Tags: brexit, London, Residential Real Estate
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Hong Kong

Hong Kong real estate investors are hot for co-living in coo上海贵族宝贝交流区 上海贵族宝贝论坛ling housing market Investors are turning to alternative assets due to rising property prices in the city

(Credit: iStock)

One beneficiary of Hong Kong holding the title as the world’s least affordable housing market: co-living investors.

More Hong Kong and institutional investors are putting money into co-living properties due to an increase in demand, as well as smaller returns in traditional real estate investments, according to the South China Morning Post.

A massive uptick in property prices over the past ten years has made it more difficult for investors to make profit on new properties in Hong Kong as the market has started to slow. In turn, more investors are seeking out alternative asset classes such as co-living, data centers and parking garages.

These properties can give investors yields of about 50 to 75 basis points more than conv上海同城对对碰交友社区 上海夜网论坛entional real estate investments, according to the SCMP.

Co-living, in particular, is attractive to investors since renting an apartment in Hong Kong now accounts for about 80 percent of y上海龙凤论坛sh1f 上海龙凤论坛oung professionals starting salaries up from 45 per cent in 2006.

Between 2015 and 2020, co-living rents are projected to range from $357 to $2,612. That compares to an average monthly rent of $2,549 in the city上海千花网论坛 上海千花网, SCMP reported. [SCMP] Keith Larsen

Tags: china, Co-Living, Residential Real Estate Miami investor buys industrial site next to爱上海同城对对碰 爱上海同城论坛 Florida TurnpikeUS retailers have closed more stores this year than all of 2018Warren Buffet’s HomeServices to open in Dubai amid international pushHeirs unapparent: How RE firms plan — or don’t — for futures without t…
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” regnal heart 3 ” bind demarcate edition PS4 Pro together as will synchronous as game noumenon put on sale

Want to be in ” regnal heart 3 ” put on sale while upgrade lead plane? That as it happens, suo Nigang just announced to will be rolled out in North America area ” regnal heart 3 ” bind demarcate edition 1TB PS4 Pro together. This product will include leader of a 1TB PS4 Pro, handle of a Dualshock4, still have ” regnal heart 3 ” game of luxurious edition substance. This PS4 Pro was used ” leather edging ” , listen it is a bit strange to go up. ” regnal heart 3 ” luxurious edition will use iron box to pack, add the breastpin that gives the collect that insert a picture and all alone to pull. Suo Ni expresses, ” regnal heart 3 ” will provide content of PS4 exclusive number. ” regnal heart 3 ” predict to landed PS4 and Xbox One on January 29, 2019. This ” regnal heart 3 ” tie price of demarcate edition PS4 Pro together 400 dollars, sell solely through GameStop. Now already open purchase in advance. [……]

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