The Real Deal is heading to the Hamptons! Special supplement will cover residential, commercial real estate on the East End
The Real Deal is shipping out to the East End for the second installment of our Hamptons Market Report, which will be included in the July issue of the magazine.
The market report picks up where The Real Deal leaves off, with in-depth coverage of the residential and commercial real estate scenes on Long Island’s East End. Once again, the supplement will上海千花网 include a ranking of the area s top residential brokers and brokerages, a comprehensive overview of the priciest homes on the North and South For上海龙凤论坛sh1f k, and a close look at what Hamptons rentals went for this summer.
Along with our regular coverage, we ll be diving into how Airbnb has reshaped the rental market and some of th上海龙凤论坛sh1f e challenges of building on the East End. We also sit down with celebrated architect Richard Meier, and talk with the mayor of Sagaponack, which新爱上海同城对对碰论坛 is the richest zip code in the United States.
Subscribe to the magazine to receive your copy of the Hamptons Market Report, which will be poly-bagged with the July issue of The Real Deal.
For editorial inquiries, email Heather Grossmann at [email protected]. Email Junaid Zahid at [email protected] to learn上海龙凤论坛sh1f more about advertising opportunities. — TRD
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A上海千花网龙凤论坛 ndrew Farkas
Billionaire Andrew Farkas has called it quits with his second wife, Sandi.上海龙凤论坛sh1f
Farkas, founder of Island Capital Group, divorced Sandi earlier this year, Page Six reported. The two had been married for 15 years and have two sons together. The real estate bigwig is reportedly dating a 22-year-old senior from his alma 阿爱上海同城 mater, Harvard University. The two were spotted together in the Hamptons.
Farkas paid his wife a hefty settlement, roughly three times what was necessary, a source told Page Six. The details of the settlement were not immediately available. In June, the couple listed their Upper East Side townhouse上海千花社区 at 12 East 73rd Street for $42.5 million. At the time, brokers indicated that Farkas was putting the home on the market for personal reasons.
He also owns the Montauk Yacht Club and a mansion in North Haven. His no上海龙凤论坛 w ex-wife has bought a home in Sag Harbor. Island Capital, which he founded in 2003, owns controlling interests in companies that manage $180 billion in assets, according to the company s website. In 2011, the merchant bank became a significant stakeholder in Grubb Ellis. [Page Six] — Kathryn Brenzel
Tags: andrew farkas
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Try, try again: Saudi investor sues Harry Macklowe again over 432 Park retail Hamza Al Kholi alleges he was stiffed on a 2% equity stake
From left: 432 Park Avenue, Harry Macklowe and Hamza Al Kholi (credit: DBOX for CIM Group/Macklowe Properties)
A Saudi investor who claim阿爱上海同城 s Harry Macklowe cut him out of a joint venture to buy 432 Park Avenue’s retail space is suing the develop上海龙凤论坛sh1f er — again.
After failing to resolve the spat in New York State Court, Hamza Al Kholi has filed a federal suit alleging that he helped the developer line up financing to buy 432 Park’s valuable retail space, but later was pushed out of the deal and stiffed on the 2 percent equity stake he was promised. In this suit, Al Kholi seeks $9 million.
A businessman with vast holdings in the Middle East, Al Kholi previously sued Macklowe on the same grounds in New York State Supreme Court. The case went into mediation last January, but talks failed last month, according to the latest suit.
Macklowe and Qatari financial services firm QInvest closed on the deal to buy 432 Park’s retail condos for $411.1 million in June, nearly two years after entering contract with CIM Group, Macklowe’s co-developer on the supertall tower.
In the federal suit, Al Kholi claims to have contacted QInvest on behalf of Macklowe and arranged meetings for the t上海贵族宝贝 wo in early 2014. But according to the suit, Macklowe and QInvest “soon moved to exclude” Al Kholi from the deal by lowering Al Kholi’s fee to 0.5 percent of th[……]
Bespoke’s co-founder on pricey Hamptons homes, the ‘big whales’ of real estate and keeping a Zen garden
Zachary Vichinsky (Photos by Michael McWeeney)
Zachary Vichinsky, who co-founded Bespoke Real Estate with his younger brother Cody, works out of what looks like a model summer home. The luxury residential brokerage’s office in Water Mill has a modern exterior with floor-to-ceiling windows, and meticulously arranged décor awash in a palette of white, beige and gray on the interior上海龙凤论坛sh1f . Zachary and his brother, both alumni of the Corcoran Group on Long Island, started Bespoke in 2014. The firm lists Hamptons homes with a minimum price tag of $10 million and now exclusively represents more than $1.2 billion worth of properties, with an average listing price of $26 million, according to Zachary. It was a somewhat unlikely business for the two, who grew up in Stony Brook, Long Island, and rarely ventured 爱上海同城论坛 to the vacation hamlets their firm now targets. “I think I went to Hampton Bays for my prom — that was like the farthest I’d been east as a child,” said Zachary. He started a painting and finishing business after graduating from high school and began investing in single-family properties i上海龙凤论坛 n his early 20s. Zachary, 33, now lives with his wife, Nicole, and their two-year-old daughter, Ramsey, in Bridgehampton.
Missile launcher print
This poster of two missile launchers is a gift from Cody. The weapons are a commentary on the sounds that come from Zachary’s offi[……]
Did the NYC multifamily market almost die in 2017? Portfolios virtually vanished and volume steeply declined, but brokers are optimistic for a rebound in 2018
From left: Jason Silverstein, Douglas Eisenberg, Peter Von Der Ahe and Aaron Jungreis
After winning an assignment last summer for an outer-borough multifamily package, Aaron Jungreis jogged his memory for potential buyers.
“You always go to that top line – the junkies,” said Jungreis, the president of Rosewood Realty Group, one of the city s most active multifamily brokerages. “And the second level are guys who are not as prone to risk.”
Then came the final tier, one that multifamily brokers increasingly turned to in the past year while the market softened significantly. “When you really can’t sell anything, you go to those who are not that reliable,” he said. “If that doesn’t work, then you’re in trouble.”
Despite some heightened broker hustling, the city s multifamily market took a punch to the mouth in 2017. Dollar volume hit $7.22 billion, its lowest level since 2011 and a 48 percent drop, according to data from Ariel Property Advisors. Deal volume, at 457 trades, was at a seven-year low. Pricing remained high and even the go-to multifamily buyers scaled back.
The Real Deal spoke to dozens of landlords and multifamily brokers over recent months about the market’s ups and downs.
“People have waited for a crash that didn’t happen.”
Multifamily portfolios all but vanished from the market. The days of the $300 million, multi-[……]
The famed architect on listening to “foul hip-hop,” designing for celebrity chefs like Nobuyuki Matsuhisa and growing up in Guadalajara
David Rockwell (Photo by Studio Scrivo)
David Rockwell is perhaps best known for his collaborations with celebrity chefs and restaurateurs like Danny Meyer and Nobuyuki Matsuhisa, whose restaurants he’s designed around the globe. But the architect’s Manhattan-based firm, which also has offices in Shanghai and Madrid, has designed 650 restaurants, hotels, condos, stage sets and even playgrounds worldwide. About 150 of those projects are in New York. He has two dozen Broadway sets to his name, including those for blockbuster shows like “Hairspray” and “Kinky Boots,” and is currently working on “Tootsie” in Chicago. The firm also twice designed the sets for the Academy Awards, and Rockwell was the first architect to receive both a Tony and an Emmy (for set design). His eponymous firm — which he launched in 1984 and which now has 250 employees — is currently partnering with Diller Scofidio + Renfro on the Shed and Related Companies’ 15 Hudson Yards. It also recently designed the amenity spaces at 111 Murray Street, the luxe condo project developed by the Witkoff Group, Fisher Brothers and Vector Group.
WATCH: Architect David Rockwell on teaming up with celebrity chefs
like Nobu and Danny Meyer, growing up in Mexico and a love of “foul hip-hop”
DOB: July 21, 1952
Lives in: Tribeca
Family: Married with daughter and son
What were you like[……]
FAO Schwarz to open toy store in Midway as part of airport’s retail makeover The city is planning to phase out the existing shops at Midway and replace them with 70 new retail brands by 2020
Midway Airport and FAO Schwarz’s now-closed flagship store in Manhattan (inset) (Credit: iStock)
Renowned New York toy store FAO Schwarz will join a revamp of the Midway Airport shopping concourse that’s on track to bring 70 new retail brands to the airport by 2020.
FAO Schwarz applied for a permit to add a store sign in the airport, according to city buildings department records. A city spokesperson confirmed the lease Monday but did not say how much space the store would take inside the city’s junior airport.
FAO Schwarz opened a 20,000-foot store earlier this year in Manhattan’s Rockefeller Plaza, nearly three years after its parent company, Toys R Us, closed the flagship location on Fifth Avenue because of rising rents.
Local 0fficials touted the first phase of Midway’s retail makeover 爱上海同城 this summer, when the airport opened a 15,000-square-foot food hall with a Billy Goat Tavern and a Big Little’s, a popular Asian-Mexican fusion restaurant based in Chicago. A Coach handbag store, Tumi suitcases and Kiehls cosmetics shop will also open in the airport over the next year or so.
The city has hired New Jersey-based Hudson Group, London-based SSP and Vancouver-based Vantage Airport Group to help phase out and replace existing shops and restaurants at Midway. The companies will aim to strike[……]
Mutual Alliance paves the way for banking in the LES, World War II brings construction boom, and more This month in real estate history
1908: New Mutual Alliance building brings high finance to the LES
The Mutual Alliance Trust Company’s third office building officially opened for business in the Lower East Side 111 years ago this month, the New York Times reported. The firm’s new outpost reportedly heralded the banking industry’s arrival in a neighborhood known more for its impoverished tenements than wealth management. The six-story building on Grand Street, designed by architect John Hamilton, cost the company $175,000 to erect. Teller services with vaults lined the marble and bronze ground floor, while safety deposit boxes were kept in the basement and offices for the staff filled the upper floors. American business magnates Cornelius Vanderbilt and William Rockefeller were among the founders of Mutual Alliance in 1902. One of the most notable details about the prominent financiers’ new venture was that their $1 million of capital would “be used on Grand Street,” according to the Times. As of June 1907, the company had nearly $7 million in assets and two branches in LES and two more in Harlem. Its headquarters remained at 66 Beaver Street, near Wall Street.
Worker standing on a platform on the side of the Empire State Building.
1941: National construction sees the upside of war
The new year brought good tidings for the U.S. construction industry 78 years[……]
Yolanda, LA s real estate yenta, strikes deal with Variety parent company Ex-Compass employee James McClain sells blog to Penske Media Corp.
It’s been a whirlwind year for James McClain, the former Compass employee and — formerly — hidden force behind celebrity real estate gossip blog, Yolanda’s Little Black Book.
Less than a year after being outed as “Yolanda,” McClain h爱上海同城论坛 as struck a deal with Variety’s parent company, Penske Media Corporation, to launch a new real estate news venture.
McClain said his decision to sell the Los Angeles-focused blog was fueled by what he called its growing popularity, and his need for additional staffing.
“It was getting really difficult to run it independently because of all the time it takes to research, write a story, and edit,” McClain said in an interview with The Real Deal. “It just became this beautiful monster where I’m trying to run this blog all on my own and it wasn’t a feasible business model.”
McClain kept his identity a secret since creating the blog in 2016, choosing to hide behind上海同城对对碰交友社区 the name “Yolanda Yakketyyak and the “real estate yenta.”
But the mystery was solved last June, when an investigation by the Los Angeles Times revealed McClain, a former Compass finance manager who爱上海龙凤419桑拿 had been laid off, created the site.
At the time of the unmasking, Compass released a statement saying it would “prosecute this individual to the fullest extent of the law. The firm believed that McClain may have used com[……]
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