Category : Blog

Joel J. Gorjian’s Uber Capital Group has sourced a $9.8 million acquisition loan for the $12 million purchase of the Conway Towne Centre shopping mall at 201 Skyline Drive in Conway, Arkansas. The client was a private national commercial real estate investment group based in New York. National real estate investor...

The New York City Department of Buildings released its November 2018 enforcement bulletin, which provides highlights of the agency’s actions to sanction and deter bad actors in the construction industry by enforcing safety laws and codes of conduct for construction professionals. The actions below represent a portion of DOB’s overall...

AGENTS Friedman Roth Realty’s Joshua Banilivy has been retained on an exclusive basis for the following assignments: • 2381 Belmont Avenue in the Bronx is a newly constructed six-story mixed use elevator building located in the Fordham section of the Bronx. The property is comprised of 7 two bedrooms and...

US home-sale prices increased 3.3 percent year over year to a median of $298,800 in November, according to Redfin, the online brokerage. November marked the third straight month of annual home price gains under four percent after a 77-month-long streak of annual home price gains exceeding four percent. “The tide has turned,” said Redfin chief economist Daryl Fairweather. “Sellers are now competing for buyers, but they haven’t all realized it yet. “Sellers who have adjusted their price expectations downward are still finding plenty of willing buyers. Sellers holding out for high prices are contributing to declining home sales and growing inventories. We see few signs that buyers are likely to reward their patience.” The number of completed home sales fell faster than it has in over two years, down 8.3 percent from November 2017. Home sales declined in 65 of the 74 largest metro areas that Redfin tracks. The only metro areas that saw more than a five percent year-over-year increase in sales in November were New Orleans (+9.4 percent), Tampa (+7.2 percent), Long Island (+7.1 percent), and Orlando (+6.5 percent). Mortgage rates, which were a full point higher in November 2018 (4.9 percent) than the 2012-2017 average (3.9 percent), may be putting a damper on sales. As home sales continue to decline, the number of homes on the market is on the rise, shifting the balance of supply and demand back toward buyers’ favor. The number of homes for sale in November was up 4.9 percent from a year earlier. This was the highest level of inventory growth since June 2015, and the eighth straight month that the year-over-year figure increased. This November, 19 percent of homes sold above the list price, down from 22.2 percent last November.

Former New York City Mayor Michael Bloomberg, CNN’s Don Lemon, and actresses Lorraine Bracco and Mariska Hargitay were among the over 2,500 attendees at the 33rd Annual Toys Party, hosted by Corcoran’s Robby Browne and Chris Kann. Held at Pier 60 in Chelsea, the event raised $275,000 for SAGE (Services and Advocacy for GLBT Elders) and collected over 5,000 toys for distribution to numerous LGBT-friendly children’s charities. The Toys Party has raised more than $3.5 million for SAGE since 2003, and has gathered more than 150,000 toys to be donated to NYC charities. Now in its 33rd year, the Toys Party is one of the most talked-about LGBT holiday parties in New York City.   INVESTMENT advisory firm Equicap hosted its inaugural Miami Art Basel Patron’s Dinner in Support of A Demain. Clients, family offices, and developers, joined Equicap managing director Daniel Hilpert on roof of The Delano to enjoy twilight cocktails and dinner. After dinner, Equicap was joined by co-host Eazel, the AR/VR art app, for the A Demain Artists’ Desert, Drinks, and DJ set by AXELLE. Artists, collectors, curators, and gallerists joined patrons for cocktails and AXELLE‘s electro sounds, with a view of the ocean and the historic Collins Avenue. Works featured a blend of established and emerging talent, including Logan Criley, Jordan Doner, Nate Lewis, as well as digital animations for A Demain by Chloe Karayiannis.

ContentSquare, an AI-powered digital experience insights platform, has moved its U.S. headquarters to New York’s One Penn Plaza in order to accommodate the agency’s growth and presence in North America. The new location expands the company’s workspace to more than 10,000 s/f. The move represents a significant leap forward for...

NYARM Jan 14: The New York Association of Realty Managers Presents “Understanding Where Capital Repair & Project Expenses Are To Be Allocated and How They Are Taxed: How does it affect 2018 year-end financial preparations? How does it affect 2019 budgeting?” From 6 p.m. to 8:30 p.m. at 500 Eighth...