Holiday Inn 57th Street

Woodridge Capital buys Holiday Inn on 57th St. for $150M The seller was Jaseme Associates, led by Meyer Jabara Hotels’ William Meyer

Woodridge Capital Partners paid $150 million for the Holiday Inn Midtown 57th Street, according to property records filed with the city Tue上海夜网论坛 上海夜网sday.

The Los Angeles-based real estate investment firm bought the 17-story, 596-key hotel at 440 West 57th Street, located between Ninth and 10t上海千花网论坛 上海千花网h avenues, from Jaseme Associates. Jaseme is an investment company 上海贵族宝贝 上海千花网龙凤论坛affiliated with William Meyer, the chairman and co-founder of hotel investment and management firm Meyer Jabara Hotels.

The buyer also secured a $90 million loan from Deutsche Bank to help fund the purchase, records show.

Jaseme bought the property back in 1979, according to public records. Built in 196爱上海同城论坛 爱上海同城4, the building was the Manhattan s first Holiday Inn hotel.

Eastdil Secured was marketing the property for possible redevelopment, accord上海同城对对碰交友社区 上海夜网论坛ing to Real Estate Alert. It s undergone about $6.5 million in renovations since 2011.

Neither Woodridge nor William Meyer immediately returned a request for comment. ​

Tags: holiday inn
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Jay Domb

Empire Hotel Group s Domb family buys $12M UWS pa爱上海同城对对碰 爱上海同城论坛d Five-bedroom condo at Extell’s One Riverside Park spans 4,200 sf

One Riverside Park on the Upper West Side and Jay Domb (credit: Girls Town Or Chadash)

UPDATED: Sept. 12 at 11:50 a.m. Affiliates of Empire Hotel Group heir Jay Domb snapped up a condo at Extell Development’s One Riverside Park for $12.1 million, according to property documents filed with the city Friday. The Upper West Side waterfront apartment spans 4,224 square feet and includes five bedrooms and 6.5 bathrooms.

It’s not clear whether Domb will live in the apartment himself or if the purchase was made on behalf of someone else in the family. Two of the three LLCs used to purchase the apartment are named after the grandchildren of Jay Domb s father, Sam Domb. The LLCs are also registered to an apartment owned by Sam Domb.

One Riverside Park, a 219-unit waterfront building on Riverside Drive and 62nd Street, hit the market in 2013 with much fanfare. About 10 percent of the units were available for sale as of June, as The Real Deal reported. Prices initially ranged from $1 million to $25 million, although the priciest listing, a 5,700-square-foot condo, has since dropped from $25.75 million to $21 million, as did several others.

The mot上海同城对对碰交友社区 上海夜网论坛her of Jay Domb’s son in Brazil sued the hotel heir last year and was seeking at least $4,500 a month in child support payments, the New York Post reported.  A judge ruled in 2014 that Jay Domb was required to pay at least $上海千花社区 上海千花网交友2,000 a month in child support.

Empire Hotel Group, now headed by Domb’s brother Ronald Domb, in April上海千花网交友 上海千花网论坛 bought the 15-story Milburn Hotel at 242 West 76th Street for $69.4 million, TRD reported.

Correction: An earlier version of this stor上海千花网交友 上海千花网论坛y misstated the location of One Riverside Park.

Tags: empire hotel group, extell development, one riverside park
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Trump Tower NYC

The Feds should be on the hook for Trump Tower security costs: Mark-Viverito, Garodnick Cost to keep president-elect, family safe at the building estimated to be $1M a day

Dan Garodnick, Trump Tower and Melissa Mark-Viverito

City Council Speaker Melissa Mark-Viverito and Council member Dan Garodnick have launched a petition aimed at forcing the federal government rather than New York City to foot the bi上海贵族宝贝 上海千花网龙凤论坛ll for security at Trump Tower.

The cost of keeping the president-elect safe at the tower is estimated to be $1 million per day. Over the course of a four-year term, that figure could reach more than $1 billion, according to the petition.

“The provision of security services for presidents-elect must be the obligation of the federal government,” the petition claims. It also speaks directly to President-elect Donald Trump, urging him to “end the suspense,” and “make上海千花网论坛 上海千花网 clear today that New York City is not going to get stuck with the bill.”

As of early Friday afternoon, the petition had received 292 signatures.

Last month, Mayor Bill de Blasio said he reached out to the federal government to ask for help in covering the costs of securing Trump Tower.  The mayor said he is confident the federal government will reimburse at least some of costs, as it has in other situations where the city has provided presidential sec爱上海 爱上海同城手机版urity, such as during the General Assembly meetings at the United Nations.

Trump has indicated he would like to spend as muc上海千花网龙凤论坛 上海千花社区h time as possible at Trump Tower, even after he moves into the White House. First Lady-elect Melania Trump has said she will remain in Trump Tower so that son Barron Trump can complete the school year in New York.

“Donald Trump has repeatedly attacked the values that represent New York City, while simultaneously drawing upon its resources without appreciation or acknowledgement,” Mark-Viverito said in a statement. “His refusal to base transition operations out of the nation’s capital has placed an unprecedented financial and logistical strain on our city and its first responders, and it is simply unsustainable.”

There are currently pedestrian barriers, roadblocks and other security measures in place on Fifth Avenue between 56th and 57th Street. The security presence is expected to harm the luxury stores in the are爱上海同城论坛 爱上海同城a, which is one of the most valuable retail strips in the world. Miriam Hall

Tags: Dan Garodnick, Donald Trump, melissa mark-viverito, trump tower
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Maryland AG looking into housing complaints at Kushner Companies affiliate

An affiliate of Kushner Companies is being investigated about上海千花网 爱上海同城对对碰 allegedly coercive debt collection practices and poor maintenance at housing developments in Maryland. Attorney General Brian Frosh of Maryland is looking into the situation at multifamily housing run by Westminster Management  in response to medi上海夜网论坛 上海夜网a reports, according to CNN. Both the New York Times and ProPublica described problems such as mold and vermin there, while The Baltimore Sun described aggressive practices such as arrests of tenants. CEO Jared Kushner stepped down to join the White House in January. [CNN]

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Priciest Apartments Manhattan

Here are the week’s top luxury sales An interactive look at where the biggest deals were stru上海夜网 阿爱上海同城ck, plus total overall 爱上海 爱上海同城手机版sales and average prices for the week (click on numbers to see data)

Each w上海千花社区 上海千花网交友eek, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales.

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Opendoor

House flipping company Opendoor targeting $2B valuation C上海贵族宝贝 上海千花网龙凤论坛ompany hoping to expand into Charlotte and San Antonio

上海千花网交友 上海千花网论坛Eric Wu (Credit: Guy Kilroy via Flickr)

The house flipping company Open Door Labs Inc., which does business as Opendoor, is looking to raise at least $200 million from investors at a valuation of about $2 billion.

The money is meant to help the company expand its business to markets and metro areas across the United States, including Charlotte and San Antonio, according to the Wall Street Journal.

Opendoor offers cash to purchase homes online, then makes basic im上海夜网 阿爱上海同城provements to them and tries to sell them at slightly higher prices. It also helps secure mortgages and offers title insurance services. The company hopes its expansi上海千花网 爱上海同城对对碰on will allow it to get more profits from its house flips.

The company bought about $1 billion of real estate last year and plans to buy between $3 and $4 billion this year.

Although some are concerned that Opendoor could falter if the housing market cools down, the company’s executives say they can spot declines in the market before others and manage risk by lowering their offer prices.

Opendoor partnered with Miami-based homebuilder Lennar Corp. earlier this year to help customers sell their old homes an上海夜网 阿爱上海同城d move into their new ones. [WSJ] – Eddie Small

Tags: Home Flippers, Housing Market, Residential Real Estate
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NYC Real Estate

There will be a few new real estate events in New York City next week.

On Sept. 17, the New York City Economic Development Corporation is hosting its Development Fina上海千花网论坛 上海千花网nce Conference 2018: Investing for Impact in NYC from noon to 5:30 p.m. at Convene, 117 West 46th Street. Attend to see panels focusing on a wide range of topics including, but not limited to: Investing for New York City’s Future, NYC: A Global City, a Global View, and Future Focus: Investing in the Industries of Tomorrow. Eric Clement of Strategic Investments Group, Seth Pinsky of RXR Realty, Mike Bernier of EY, among others, will provide speeches at the event.

On Sept. 18, the Brooklyn Historical Society is hosting its Brooklyn Real Estate Roundtable Breakfast from 8 a.m爱上海龙凤419桑拿 上海龙凤论坛sh1f. to 10 a.m. at the Brooklyn新上海贵族宝贝论坛 上海贵族宝贝交流区 Historical Society, 128 Pierrepont Street. The breakfast will include a Women in Development panel, with speakers such as Juliet Cullen-Cheung of Steiner NYC, Abby Hamlin of Hamlin Ventures, Paul Ingram of Ingram Hebron Realty, Alison Novak of the Hudson Companies and Allison Schull Turner of The Wing.

On Sept. 21, Bisnow is hosting its Long Island City State of the Market event from 7:30 a.m. to 11 a.m. at the Paragon Building, 2100 49t上海千花网交友 上海千花网论坛h Avenue. Attend and hear about the retail opportunities in LIC, the biggest developments in the pipeline, the safest investment bet in the neighborhood and more. Will Silverman of Hodges Ward Elliot will provide the keynote, and Jonathan Drescher of Plaxall Realty, Matthew Baron of Simon Baron Development, Eric Benaim of ModernSpaces and Evi Angelakis of Golden Key Realty will also provide speeches.

To search for future industry events or browse past on爱上海龙凤419桑拿 上海龙凤论坛sh1fes, click here. And to submit more industry events, please reach out to [email protected].

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Real estate investor’s $21M Montauk ‘Tinder party pad’ heads to contract

A Montauk compound owned by Michael Hirtenstein, a real estate, nightlife and telecommunications mogul, has gone into contract, Curbed reported. The home, which has been on the market since April when it was asking for $21 million, was designed by architect James Biber in 2006 and honored by both the American Institute of Architects and the American Architecture Awards. The property made headlines in 201爱上海 爱上海同城手机版7 when Tinder spent $135,000 a month to rent the compound, which has about 300 feet of ocean frontage and is made up of two propert上海龙凤论坛 新上海贵族宝贝论坛ies, each about two acres. The上海千花网论坛 上海千花网 5,500-square-foot main house has three levels, a gourmet kitchen, a roof deck and wraparound terraces. The 2,400-square-foot guest house has two bedrooms, one bathroom and an eat-in kitchen. Both buildings were built by Men At Work and can withstand hurricane-for爱上海龙凤419桑拿 上海龙凤论坛sh1fce winds. The compound, which also has a heated gunite infinity pool, a hot tub and an outdoor shower, was bought by Hirtenstein in 2013. The Corcoran Group’s Gary DePersia is representing the listing. [Curbed]

Tags: Hampton爱上海同城论坛 爱上海同城s
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Gavin Newsom

Newsom wants Silicon Valley tech firms to loan $500M to tackle housing shortage The governor envisions California matching with an additional $500M for a program that could lead to the construction of thousands of homes

Gov. Gavin Newsom wants 上海千花网论坛 上海千花网to cook up some housing with funds from Silicon Valley companies

Developers in California could have a new source of capital for workforce.

Gov. Gavin Newsom wants Silicon Valley tech companies to lend $500 million in low-interest cash to developers to build housing for middle-class Californians, according to the Los Angeles Times.

Continuing his early push for more housing days after taking office, Newsom plans to match the $500 million with public money set aside for the development of workf上海千花社区 上海千花网交友orce housing, creating a pool of $1 billion available to developers.

Newsom said he’s already spoken with some tech companies over the last six months about the plan. Carl Guardino, head of the Silicon Valley Leadership Group, expressed his support for the program. The public policy group has more than 350 memb新上海贵族宝贝论坛 上海贵族宝贝交流区ers, including the largest — and most valuable — companies in Silicon Valley like Facebook, Google, and eBay.

Reserved workforce housing is typically limited to people with incomes that fall within a certain window above the Area Median Income, according to the Times. In Los Angeles, AMI is around $69,300 a year, so a family of four making $83,000 could qualify.

The proposed program could boost housing supply in a state in desperate need of housing, it also means that money would not go toward building housing for the neediest: low-income residents.

Newsom has vowed to address that crisis, too, saying at his swearing-in ceremony earlier this month he would “launch a Marshall Plan for affordable housing.” [LAT] — Dennis 上海贵族宝贝交流区 上海贵族宝贝论坛Lynch

Tags: Gavin Newso上海龙凤论坛 新上海贵族宝贝论坛m, Housing, politics, Silicon Valley
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