Sam Applegrad buys 135-unit Bronx rental complex for $25M The seller, MacQuesten Development, built Palmer Court Homes in 2001
3300 Palmer Avenue
Sam Applegrad’s Skyc Management picked up a 135-unit multifamily complex in the Bronx known as the Palmer Court上海夜网 Homes for nearly $25 million, according to property records filed with the city Monday.
The Bronx-based landlord shelled out $24.6 million to buy the buildings at 3300 and 3310 Palmer Avenue from MacQuesten Development, records show. The complex is located in the northeast Bronx neighborhood of Eastchester.
The purchase price 阿拉爱上海同城 works out to $182,222 per unit. All 135 apartments are rent-stabilized units, property tax records show.
Neither Applegrad nor MacQuesten could be immediately reached for comment. The Westchester-based MacQuesten, which develops both affordable and market-rate projects, built the 180,000-square-foot garden-style apartments in 2001 at a cost of $18 million, 上海千花社区 according to its website.
Applegrad, who owns more than 30 properties, recently bought thre阿拉爱上海同城 e mixed-use buildings in the Bronx for $34.3 million from Dalan Management, which is scaling back its footprint in the borough and Northern Manhattan in order to redeploy capit上海千花网龙凤论坛 al in Chelsea and the West Village.
Meanwhile, MacQuesten filed plans in February to build a 130-unit rental project in East New York.
Tags: Dalan Management, the Bronx
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With Chines上海千花网论坛 e investment in U.S. real estate continuing at an accelerated rate, The Real Deal is heading back to China this November for our second-ever Shanghai forum and showcase.
The event, which will take place at five-star Jing An Shangri-La Hotel from Nov. 17 to 19, is the largest event of its kind to ever be held in China. Our 2016 event will bring prominent industry professionals and investors from the United States to Shanghai, including former New York 爱上海龙凤419桑拿 City Mayor Rudy Giuliani, who will be delivering this year’s keynote address.
U.S. Ambassador Charles Gargano will participate on one of our many panels, which will compliment workshops and more than 100 exhibits of residential and commercial developments. Last year’s event welcomed key industry players from New York, Miami and Los Angeles, including Eliot Spitzer, Steve Witkoff, Miki Naftali and Ifei Chang,爱上海 to name a few.
A report issued this spring said Chinese investment in existing U.S. real estate assets爱上海同城对对碰 could total more than $218 billion from now until the end of 2016. The Real Deal’s U.S. Re上海夜网论坛 al Estate Forum and Showcase will provide an arena for dealmaking and relationship-building, with an event that will be bigger and even better than last year.
For more information about programming, contact Heather Grossmann at [email protected]. For sponsorship opportunities, contact Ross Fox at [email protected].
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Dodd-Frank and drones: How DC’s real estate lobby is preparing for President Trump Real estate’s K Street arm likely to push new regime heavily on tax, CFPB reform
Donald Trump and K Street in Washington, D.C.
When Donald Trump heads to Washington, D.C. next year, he’ll have the power to influence – both 上海千花网交友 at the White House and the agencies he appoints leaders to – a long laundry list o阿爱上海同城 f issues important to the real estate industry. The docket could include tax reform, the Dodd-Frank act and even drones, the unmanned aerial vehicles industry pros use to snap photos, inspect properties and help maintain buildings.
Lobbyists in Washington have held meetings this year regarding drones with the Federal Aviation Authority, the National Telecommunications and Infrastructure Agency and the White House Office of Science and Technology, lobbying disclosures show all of which are offices Trump will appoint or nominate leaders to.
“The reason the White House is important is because the White House appoints these people,” said Kenneth Trepeta, head of the Washington, D.C.-based Real Estate Services Provider Council lobbying group. “The new administration under President-elect Donald Trump , who wanted to repeal the Dodd-Frank law, will have tremendous influence.”
And when he gets there, Trump will find an active lobby ready to press the flesh.
Kash Group buying Morgans Hotel for condo conversion Shlomo Bakhash’s firm and Shel Capital in contract to pay $41M for 237 Madison
From left: Morgans Hotel at 237 Madison, Shlomo Bakhash, FelCor s Steve Goldman and JLL s Jeffrey Davis
Shlomo Bakhash’s Kash Group, in partnership with Shel Capital, is in contract to acquire the Morgans Hotel, which it plans to convert into a micro-unit condominium, the firms confirmed to The Real Deal.
Kash and Shel are expected to close next month on the $41 million purchase of the 17-story, 117-key property at 237 Madison Avenue, located between East 37th and 38th stre爱上海 ets, in Murray Hill.
The real estate investment firms are converting the hotel into about 90 condo units on the upper floors, as well as a ground-floor restaurant and three floors of either hotel rooms or corporate housing. The micro condo units will average 300 to 325 square feet in size and $700,000 to $750,000 in asking price. There will also be a triplex penthouse condo with an undetermined asking price, Bakhash said. Utilizing 1,500 square feet of extra FAR, the firms plan to slightly expand the property to about 77,000 square feet, he added.
After the hotel and the deal close, Kash and Shel, led by Rony Kravel and Jonathan Bakhash, plan to launch the conversion immediately, they said. The price comes out to about $530 per square foot.
The four-star ho上海夜网论坛 tel is one of the assets that Texas-based real estate investment trust FelCor Lodging Trust has been looking to sell.[……]
Greed is good even in suburbia Large investment firms are betting big on single-family homes in the US suburbs
Big companies banking on homeownership rates staying low are scooping up suburban single-family homes across the country.
Firms like American Homes 4 Rent, Colony Starwood Homes, Progress Residential and Streetlane Homes have spent $40 billion buying 200,000 houses to rent out across the United States, the Wall Street Journal reported, Citing Data From Green Street Advisors. However, they still own less than 2 percen爱上海同城手机版 t of American rentals.
In the Tennessee town of Spring Hill, those four investors own nearly 700 houses, tax records show. That’s around three-quarters of the homes that are available to rent in the town, the local Realtors’ Association told the newspaper.
The companies are relying on homeownership keeping down and rental prices continuing to rise. American homeownership is at a 5上海龙凤论坛 0-year low, according to the Journal.
“The rental stigma has really subsided,” Michael Cook, the operations chief Streetlane Homes, which owns about 4,000 houses. “People are realizing that houses are not necessarily the best places to store wealth.”
Big爱上海同城 investment firms previously focused on apartment buildings, office towers, shopping centers and warehouses. But during the financial crisis, when millions of homes were sold in foreclosure auctions, they started picking up homes to rent out. Thomas Barrack Jr. and Barry Sternlicht, who combined their holdings int[……]
Southampton officials troubleshoot plan to buy site where Shinnecock remains were found
Southampton Town officials want to buy the construction site in Shinnecock Hills where bones believed to belong to an ancient tribal leader of the Shinnecock Indian Nation. R爱上海 egulations prevented them from paying the full amount demand上海龙凤论坛sh1f 上海夜网论坛 ed by the property’s owner, KB Southampton LLC of Water Mill, who asked for $185,000 more than the $390,000 it was appraised for. Tribe members have tried to raise the $185,000 bu上海贵族宝贝论坛 t fallen short. Town officials had wanted to tap the Community Preservation Fund for the purchase, but rules bar spending more than market rate. Town Supervisor Jay Schneiderman has met with the owner to try to identify the improvements the appraisal may have missed. These may help boost the appraised value,上海贵族宝贝 which could allow officials to use government funds. [27east]
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The Riverhead Town Board will hold a public forum on Jan. 31 to allow residents to make comments and give suggestions about a proposal by the Downtown Revitalization Comm爱上海同城论坛 ittee to raise the building height limit, Newsday reported. Under the proposal, the maximum height for buildings would be two stories, or 24 feet. They could, however, climb to three stories with the transfer of development rights and reach four stories with the full purchase of development rights新上海贵族宝贝论坛 . The restrictions would apply to the DC-1 downtown zoning district. Riverhead has been looking to redevelop parts of its down爱上海 town. At regular meetings on Dec. 18 and Jan. 3, property owners expressed worry that the proposed zoning changes would limit potential uses for buildings, inhibit economic growth and their own income. [Newsday]上海夜网
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Microsoft ever came out when last year November (Microsoft) the Xbox One leader that does not include CD driver was about to roll out 2019. The price of this lead plane can be compared originally Xbox One S and Xbox One X are cheaper, nevertheless the player also can buy the game of digital edition only. A the closest message points out what time will anticipate than everybody to this lead plane comes out even earlier. According to the information of Windows Central, this code name is ” Xbox Maverick ” official name is lead plane ” Xbox One S is completely digital edition (All-Digital Edition) ” , although this appellation is a bit long, but conveyed the as biggest as what lead plane photograph compares other fund not to contain CD driver characteristic really. This lead plane still is mentioned to be able to open purchase in advance in April in article, and be in began shipment in May. The price of edition of word of total number of Xbox One S had be notted mention in covering at present, but the price that can have fixed it at least will be lower than current S and X. In addition, besides move except CD driver beyond, whether edition of total number word added other new distinguishing feature also is unknown. Of course, all information do not have above to confirm through the personally of Microsoft government. Nevertheless, in Xbox GamePass the service offers a player a large number of and after the game library of progressively dilate, microsoft rolls out the Xbox One tha[……]
A lot of exclusive your work were collected since Epic store opens business, the function of the store is not quite perfect from beginning to end nevertheless. Current Epic store starter can is only can realize basic function, compare with the competitor photograph such as Steam, GOG have basic frame only. Epic just just joined the fundamental function such as price of store search, preload, region recently. What nevertheless your person in a way sets his mind at is, epic announced the store function that they control one year to future to plan. This year spring, epic store will offer better search, increase video server, the cloud files wait for a function. Future still will join the function such as pot of support of sheet of user evaluation, desire, MOD, achievement. Complete list is as follows: Leave line mode to install management to undertake through type and label search improvement ” behind the curtain ” major key renovates memory store page of store of special video server redesigns improvement DLC support increases article to buy an examination to improve patch dimension future 4 arrive inside 6 months: User evaluation news pushs send and sequel improves a complete set of of price one’s style of work as well as one’s moral quality to install playtime of player of money of more of more terms of payment to track game of supportive MOD Epic to enclothe game library to improve long-term (future beyond 6 months) : Major key of function of the direct socialization that de[……]
In the past horny plain game announces, amative imitate game ” LoveR ” will with beautiful girl game ” rude good people and archduchess and roam about feline heart ” linkage, the government can regard DLC as to provide authority the dress of player ballot. Horny plain game showed again recently, at the outset because a variety of reasons cannot come true,the dark bound of ballot is taken, can change clothing of the second that get a bill only. But why can change, saw the picture below everybody can understand. Horny plain game still shows excuse to participating in polled player, hope the player can like new dress. Two new dress will be in as free DLC the middle ten days of a month was rolled out in April. ” LoveR ” had been in Japanese area put on sale, corresponding platform is PS4, chinese edition is booked in summertime put on sale. [……]