Trump Tower Rentals

New hurdles emerge in luring tenants to Trump Tower One luxury pad at the building had its asking rent slashed 30% since June

Trump Tower, Secret Service and Protesting outside the tower, First Lady Melania and President Donald Trump (Credit: Getty Images)

It’s tough times for 阿爱上海同城 阿拉爱上海同城the city’s爱上海同城 爱上海 luxury landlords, but those renting out pads at Trump Tower face a particularly unique set of challenges.

The cheapest rental at the building still home to First Lady Melania Trump and son Barron, at least until the summer is a one-bedroom asking $5,250 a month, Bloomberg reported. It comes with one month of free rent, and its rent has been slashed 30 percent since June.

Out of the 16 condominium units listed for rent at Trump Tower in December, seven had their asking price lowered, StreetEasy data show, according to the publication. The median爱上海 爱上海同城手机版 rent for units listed was $8,000, a fall of around 5.9 percent year-over-year.

Rental concessions are hitting record highs in Manhattan, and the problem is particularly severe at the high end of the market.

But tenants at Trump Tower will have to contend with Secret Service security, police barricades, a throng of media and, most likely, ongoing protests. The president has said he’d like to spend as much as time as possible in the building, which has now been dubbed “White House North.” An extra challenge is that the 68-story building is competing with luxury condos nearby, like Extell Development’s One57 and the Baccarat, which do not com[……]

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Trump National Golf Club

Trump National Golf Club

As the sun sets on Mar-a-Lago s season, another Tru上海龙凤论坛 新上海贵族宝贝论坛mp property is poised to take over the spotlight.

After Mar-a-Lago closes for the season in May, Trump is expected to make frequent trips to his typical summer destination of Trump National Golf Club in Bedminster, New Jersey, according to Politico.

This has residents and business owners in the area co新上海贵族宝贝论坛 上海贵族宝贝交流区ncerned about some of the chaos left over from Trump s frequent trips to Palm Beach: protesters, road closures, traffic, enhanced security, funding issues, and the general spectacle of the President of the United States coming to town.

We re k爱上海 爱上海同城手机版ind of apprehensive, I guess you could say, Nick Strakhov, a Bedminster land-use board member, told Politico. It s nice to be recognized. But on the other hand, if it gets to be tedious, we might start to complain.

In recent Bedminster Town Hall meetings, concerned citizens have brought the issue to the forefront.

West Palm Beach is a lot bigger than we are. Those people are a little more affluent than we are. Has there been any thought to that? resident Jane Schumann told the all-Republican town board in March.

Bedminster already got a taste of what s to come when the then-president-elect spent a weekend at his golf club last November, which cost $3,683 in local police overtime. Bedminster Mayor Steve Parker estimated in a letter to New Jersey Representative Leonard Lance that seven 72-hour trips could balloon that cost to $300,000 over a year. He[……]

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Regal Cinemas

Lights, camera, action: New movie theater heading to Sunnyside Regal Cinemas will open at 38-01 Queens Boulevard

38-01 Queens Boulevard (Credit: Curbcut Urban Partners)

The movies are coming back to Sunnyside.

Regal Entertainment Group has signed a 38,000-square-foot lease for a theater in the building at 38-01 Queens Boulevard, accordin阿爱上海同城 阿拉爱上海同城g to the Commercial Observer. The Regal Cinemas br上海千花网论坛 上海千花网anch will occupy part of the ground floor and all of the second floor of the 12-story project, which has been dubbed “The Sunnyside” and is being developed by Aaron Malinsky’s Curbcut Urban Partners, along with Platinum Realty and RW Real Estate Group.

The theater’s lease is for 20 years, and although the rent was not disclosed, asking rents for retail space in general at the project have been about $75 per square foot. The medical and community building wil爱上海同城论坛 爱上海同城l span 上海贵族宝贝 上海千花网龙凤论坛145,000 square feet overall.

Regal Cinemas should occu阿爱上海同城 阿拉爱上海同城py the void left in Sunnyside when Sunnyside Center Cinema closed in January 2015, and Curbcut had been negotiating to get a movie theater in its building since at least the beginning of the year.

Construction started on The Sunnyside over the summer, and the property should be finished in spring 2019. [CO] – Eddie Small

Tags: aaron malinsky, Commercial Real Estate, sunnyside
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Consultant sues developer MVP Realty after dismissal from Mount Vernon project

Ferrandino Associa上海龙凤论坛sh1f 上海龙凤论坛tes is suing MVP Realty, the developer of The Pointe in Mount Vernon, for breach of contract after being fired as consultants on the上海夜网论坛 上海夜网 massive affordable housing project. In court filings, Ferrandino Associates claims that it was fired only so MVP could save上海夜网 阿爱上海同城 money, a claim that MVP rejects. 爱上海同城对对碰 爱上海同城论坛Ferrandino was hired in 2015 to work on the s爱上海 爱上海同城手机版ite’s environmental review, but MVP terminated the contract in September, after the review process had dragged on for more than two years. [WBJ]

Tags: Westchester Fairfield
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Amazon Second Headquarters

Experts make predictions for Amazon s second HQ selection New York made the list of “least likely to be chosen” cities

(Credit from back: Westsara, Pexels)

For those who just can t stand surprises, a recent survey of 100 economists and real estate experts released a report predicting the top contenders and all signs seem to point to either Northern Virginia or Atlanta.

Compiled by Zillow, the survey looked at hom新上海贵族宝贝论坛 上海贵族宝贝交流区e values, rental markets, job growth, public transit, access to lawmakers and a pool of well-educated potential workers to select the two top contender上海夜网 阿爱上海同城s.

As the experience of Seattle suggests, Amazon will not only directly bring thousands 爱上海同城对对碰 爱上海同城论坛of high-paying jobs to the chosen city, but also has the potential爱上海同城对对碰 爱上海同城论坛 to transform the regional economy, said Zillow s Aaron 爱上海 爱上海同城手机版Terrazas in a release.

But the dark side to Amazon s HQ2 can also be demonstrated by looking at the case of Seattle according to other experts.

These cities should be prepared not only to justify their financial inducements, but to carefully weigh the social risks and costs, said Pulsenomics Terry Loebs. The mix and degree of these potential risks, such as diminished affordable housing stock, more congested roadways, and greater income inequality, vary considerably across the 20 markets.

Whether Atlanta will still remain a strong contender in light of lawmakers revoking tax breaks from Delta Air Lines after it ended discounts for NRA members remains to be seen, as CNBC noted. Amaz[……]

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NYC Stop Work Orders

DOB to hike 爱上海同城对对碰 爱上海同城论坛penalties for violating stop-work orders First-time offense now means $6K fine

Rick Chandler (Credit: Getty Images)

The city will soon bump up fines for violating stop-work orders on construction sites, adding another $1,000 to penalties imposed for first-time offenses.

Starting June 18, the Department of Buildings will impose penalties of $6,0上海夜网论坛 上海夜网00 for initial offenses and then $12,000 for every subsequent violation. Currently, the agency charges $5,000 for the former and $10,000 for the latter.

The City Council approved the change in August, along with a slew of other building-related bills. At the time, the council also voted to double penalties for work done without a permit, which varies based on the kind of work.

Stop-work orders are issued when the DOB determines that work is being done unsafel上海千花网论坛 上海千花网y on a site and/or work violates zoning, construction or other city codes. A death on a construction site can halt work for several weeks. According to an analysis of 2017 DOB records by The Real Deal, the average length of time between when a stop-work order was issued and when it was partially rescinded on construction sites where a death occurred was 25 days.

The pena上海夜网论坛 上海夜网lty change also comes as the city is ramping up its construction safety regulations. A new law requires construction workers to complete at least 40 hours of safety training. In December, the City Council approved a bill that 上海千花网龙凤论坛 上海千花社区would levy fines of up to $500,000 against c[……]

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Walmart

Long Island Cheat Sheet: Developers abandon Baldwin redevelopment project for the second time more

Clockwise from top left: Walmart wants town approval for 62,450-square-foot expansion of Farmingdale store, Former New Cassel school site to become affordable housing for seniors, Newly-built Huntington mixed use building sold for $6.2M and State gives Bellport distributor $675K state grant for $15M expan上海千花社区 上海千花网交友sion.

Developers abandon Baldwin redevelopment project for second time
Engel Burman Group and Basser-Kaufman have left a six-acre development project again, seemingly because they weren t able to acquire Baldwin properties needed for the effort, Long Island Business News reported. The team was picked in 2006 to remake a blighted area of the town. At the time, they walked away when they were unable to get some of the necessary properties. They were picked again in September 2016 and have seemingly run into the same problem as before. Hempsead officials said the developers were asking extreme tax breaks and had asked the Hempstead Industrial Development Agency to claim the properties through eminent domain. If the plan did go through, it would bring apartments, retail and mixed-use buildings to the area around the town s LIRR station. [LIBN]

Walmart wants town approval for expansion of Farmingdale store
Walmart hopes to expand its Farmingdale store by 62,450 square feet to create a supercenter with a grocery store, new vestibules, a drive-thru for picking up online orders and e[……]

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Rothschild

Rothschild family sells last of its Austrian empire for more than $105M Estate was once part of Europe’s largest private fortune

(Credit: Getty, iStock)

The Rothschild family, which held Europe’s largest private fortune in the early 20th century, has so上海千花网交友 上海千花网论坛ld the last piece of its Austrian empire 200 years later.

The deal was worth more than $105 million, Bloomberg reported. The two trusts that were sold covered s上海龙凤论坛 新上海贵族宝贝论坛ome 17,30上海贵族宝贝论坛 上海贵族宝贝0 acres of forest land in the Lower Austria region. The buyer was Vienna-based packaging firm Prinzhorn Holding GmbH, which also bought an adjacent property from the family last year.

The family descends from Mayer Amschel Rothschild, a Frankfurt-based banker. He established international banking businesses through his five sons in the 1760s and, within Austria, the family was elevated to nobility. Salomon Mayer von Rothschild started doing business in Vienna around 1815 and quickly became the top financier for the Habsburg Empire, as well as the country’s biggest landowner.

The forest land was part of an estate purchased by Baron Albert von Rothschild in 1875. Nazis seized the land in 1938 and it was partially returned to the family after World War II. 上海夜网论坛 上海夜网Rothschild heir Bettina Looram lived there until her death in 2012 and the final two estates were represented by her daughter Bettina Burr, who agreed to sell them.

Many other lavish properties that are tied to Rothschild wealth are still spread throughout Europe and the United States,[……]

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Virtual Staging

Fake Estate: Digitally-doctored listing photos are on the rise It creates a particular problem for investors buying property sight-unseen

(Credit: Pixabay and StreetEasy)

It will cost $2.40 for a paint job, $24 to replace flooring, and $40 to remove a wall or add a swimming pool.

Digital photo manipulation has become so widespread and cheap that home sellers are increasingly using the technology to spruce up their listings, the Wall Street Journal reported. This has the potential to create new headaches for end users, investors, appraisers and brokers.

This is a really new technology, Denee Evans, chief executive of the Council of Multiple Listing Services said. It’s just starting to bubble up questions as to where is that line” delineating acceptable uses, she added.

One obvious risk is for sight-unseen buyers. A Redfin survey from last爱上海同城手机版 新爱上海同城对对碰论坛 May found th阿拉爱上海同城 爱上海龙凤419桑拿at爱上海同城手机版 新爱上海同城对对碰论坛 20 percent of recent homebuyers had made an offer on a house they had never visited, down from 35 percent in 2017 when the market was hotter. In 2014, Olshan Realty found that nearly half of NYC s luxury product had been purchased sight unseen.

And then there are the investors and house-flippers like Opendoor, whose business model is based on making sight-unseen buys at scale, based on algorithms. Those algorithms will have to be trained to distinguish between real and virtually-staged listing photos.

Furthermore, with federal regulators pushing for automated appraisals that will make use of online listings[……]

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