Tory Burch countersues Mercer Street neighbor over construction tiff Fashion designer and retailer claims lawsuit has delayed flagship store at 151 Mercer
Tory Burch is striking back against the Soho landlord who claims construction on the fashion designer and retailer’s Mercer Street flagship store has caused damage to his property.
Tory Burch LLC is countersuing landlord Herbert Moskowitz, who filed a complaint against the designer last year claiming that work on Burch’s four-story flagship at 151 Mercer Street had caused extensive damage to his own neighboring property a上海千花网 t 153 Mercer Street.
But now Tory Burch has brought suit against Moskowitz, according to documents filed Thursday in New York State Supreme Court, claiming that her neighbor’s “frivolous litigation” has delayed work at 151 Mercer Street by causing the city’s Department of Builidings to put a “litigation hold” on the project.
Moskowitz s suit against Tory Bruch also listed contractor Skanska USA and the DOB as defendants and sought more than $500,000 in damages, as well as a halt to the store’s construction until damage to Moskowtiz’s property was rectified.
Tory Burch says Mosk上海龙凤论坛sh1f owitz has interfered with work at 151 Mercer Street which was originally slated for completion in July 2015 by allegedly threatening to “forcibly remove” monitoring equipment at the site.
Tory Burch’s complaint adds that Moskowitz’s opposition to the project and the monitoring measures will further postpone the project and[……]
Sean Black out at WeWork after Jersey City comments spark outrage Broker had hopped to co-working firm from Cushman in March
From left: Sean Black, Michael Ippolito, Donna Clark and Max Gross at the CoreNet Jersey City panel (Credit: @corenetglobalny)
WeWork parted ways with Sean Black a week after the新爱上海同城对对碰论坛 executive made disparaging remarks about Jersey City, one of WeWork s newest markets.
It wasn’t immediately clear whether Black was fired or whether he resigned, or whether his comments played a role in his departure. Black and WeWork declined to comment.
At a panel discussion last week, Black said: “If you look at Jersey City, it’s so far ahead relative to a lot of different product it has, but it doesn’t have life, it doesn’t have vibrancy, it’s not cool, it’s got no vibe.” As it happens, WeWork plans to open a 101,000-square-foot co-working space in Kushner Companies’ Jersey City tower One Journal Square. It was also mulling opening a WeLive co-living space in th爱上海 e building.
Black’s remarks dre上海千花网交友 w outrage from Jersey City residents. Local councilwoman Candice Osborne went on a tweetstorm Saturday, sending WeWork’s account images of Jersey City to showcase its vibrancy.
“Confusing is WeWork no longer taking $59M tax abatement 100,000SF in JSQ Jersey City?” one Twitter user commented on Thursday. “Sean Black and @wework can get out of Jersey City and stay out,” tweeted another.
Black, a former Olympic boxer, joined WeWork in March after less than a year as a l[……]
EB-5 investors are California dreamin More than half of all EB-5 investors and their family members live in California: report
Sally Forster Jones and Michael Nourmand
UPDATED, 12:12 p.m., Jan. 13: We上海贵族宝贝交流区 st Coast, best coast. That’s certainly the attitude among EB-5 investors, the majority of whom choose to live in California, according to a recent report from the Department of Commerce. According to U.S. Citizenship and Immigration Services data recorded between 2009 and 2014, over 8,000 EB-5 investors and their family members resided in California more than half of all EB-5 investors in the U.S.
The second-biggest EB-上海龙凤论坛 5 hotspot trailed far behind. New York had roughly 1,500 EB-5 residents during the same period. California also surpassed New York and all other states when it came to total EB-5 investment. The Golden State saw nearly $1.5 billion flow through its regional centers into 38 projects between 2012 and 2013, while New York saw $1.2 billion in 17 projects, the report found.
In Downtown L.A. alone, Chinese nationals have poured billions of dollars into megaprojects. Greenland USA’s Metropolis is among the developments rising that was funded by EB-5. Outside of DTLA, Beny Alagem courted EB-5 for his Waldorf Astoria in Beverly Hills, as did the developers of Hollywood Park in Inglewood.
“California attracts a lot of investment because of its size and population, and EB-5 is a job creation program after all,” said Gregory Karns, an attorne[……]
Clash of the titans: Liebman and Lorber take off the gloves at TRD forum Brokerage chiefs debate bottom lines, Elliman’s spending spree, new development pitfalls & what to do about Compass
Pam Liebman, Amir Korangy and Howard Lorber (Credit: Kerry Barger for The Real Deal)
The heads of Manha新上海贵族宝贝论坛 ttan’s two largest residential brokerages have very different ideas when it comes to deploying cash.
While Douglas Elliman plasters its logo on seats at Madison Square Garden and shells out on costs related to its expansion into markets like Los Angeles and Aspen, the Corcoran Group, backed by public company Realogy, has taken a more conservative approach to investment. That’s also true of its new development business, where it prefers to assign dedicated on-site sales people to new developments, rather than giving them over to star resale brokers as a recruiting and retention tool.
Those issues came under the microscope Monday as the companies’ CEOs, Elliman’s Howard Lorber and Corcoran’s Pam Liebman, faced off as part of The Real Deal’s annual New York showcase and forum.
The brokerage chiefs tra上海贵族宝贝论坛 ded burns and compliments throughout the 45-minute debate, and each took pains to defend their business strategies.
“Her model is a much better way for a company to make money, there’s no question,” Lorber said during the debate, which was moderated by TRD publisher Amir Korangy. “Her new development division is much more profitable than ours, but being an entrepreneur I look pa[……]
Rockpoi上海千花网龙凤论坛 nt, Brooksville to buy Starrett City for $850M President Trump owns 4% of 5,881-unit Brooklyn complex
Starrett City in Brooklyn and Rockpoint Group s Keith Gelb
Andrew MacArthur s Brooksville Company and Rockpoint Group are in contract to buy Starrett City for $850 million from a group of owners including President Trump.
The deal with the seller, Starrett City Associates, for the massive Brooklyn rental complex is subject to approval from the federal Department of Housing and Urban Development as well as state housing 爱上海同城手机版 officials, the New York Times reported.
The sale raises potential conflicts of interest for Trump, who owns a 4 percent stake in the complex and stands to take in about $14 million after taxes and expenses. (The Trump family all together own about上海同城对对碰交友社区 16 percent of the complex.)
“The president is on both sides of the negotiation — he oversees the government entity providing taxpayer funds and he pockets some of that money himself,” Representatives Hakeem Jeffries and Elijah E. Cummings wrote in a letter in July to the trust that holds Trump’s interests and to HUD Secretary Ben Carson.
MacArthur, a former CWCapital Asset Management executive who led the $5.3 billion sale of Stuyvesant Town-Peter Cooper Village in 2015, launched his own investment firm Brooksville last year. Brooksville is also a minority partner with Rockpoint on two adjacent rental buildings at 63 and 67 Wall Street in the Financial District, and a[……]
Council members call for stricter NYCHA oversight amid lead paint scandal Speaker candidates want HPD to inspect buildings
Ydanis Rodriguez and Jumaane Williams
Candidates for City Council speaker called for stricter oversight of the New York City Housing Authority in the wake of its lead-paint inspections scandal.
“We need to be sure that HPD also act on inspection and enforcement in NYCHA buildings as we do in the rest of the buildings,” said Councilmember Ydanis Rodriguez, calling for the Department of Housing Preservation and Development to oversee the city’爱上海同城对对碰 s pu上海千花网交友 blic housing stock. “We should not just go after Shola [Olatoye]. The rest of the people — anyone responsible for what happened from the top to the bottom — should pay for the consequences.”
“There were documents submitted to the federal government that were lies,” said Councilmember Jumaane Williams. “The mayor has said that he knew about it. Now if this was a previous administration, the whole city would be going crazy.”
Council member上海龙凤论坛 Jimmy van Bramer called for anyone at the agency who lied about the missed inspections to be fired while Mark Levine, Donovan Richards and Corey Johnson supported the installation of an independent monitor.
Two weeks ago the news broke that NYCHA failed to inspect apartments for lead for years but falsely claimed that it did.
In its November issue, The Real Deal examined the agency s ties to the city s powerful real estate industry. [NYP] Konrad Putz上海千花[……]
Under fire, title insurance companies spend heavily in Albany State-level lobbying expenses rose 67% between 2014 and 2017
New York State Capitol
As Gov. Andrew Cuomo stepped up his effort to crack down on title insurance companies in 2015, the industry dispatched a small army of lobbyists to Albany.
Amid continued scrutiny of what the state calls excessive marketing expenses, title insurers spent 67 percent more on paid lobbyists during the first half of 2017 than they did three years prior, according to data from New York’s Joint Commission on Public Ethics. According to JCOPE, companies including Fidelity National Title Group, First American Title, and Stewart Title Insurance Company spent $240,992 between January and June 2017, compared to $143,875 during the same period in 2014.
The biggest spender was First American — a California-based insurer that’s a dominant player nationwide — which has forked over $441,750 to lobbyists in New York since 2014, records show.
During the first half of 2017, First American paid veteran political consultant Hank Sheinkopf’s firm $45,000, JCOPE records show. It also paid $33,000 to Empire Advisors, a firm owned by George Haggerty, who was executive deputy superintendent of the state s Department of Financial Services in 2011 and 2012. Empire also lobbied on behalf of First Nationwide Title, a New York City-based title agency, which paid the firm $96,000 between January 2016 and June 2017.
The New York State Land Title Association — a membersh[……]
Manhattan’s chilly hotel market shows signs of thaw RevPAR grew during Q4 for the first time in 2.5 years: PwC
From left: Renderings of the Hyatt Place hotel at 350 West 39th Street, the Virgin Hotel and 450 11th Avenue (Credit: Gene Kaufman, VOA Architects and DSM Design Group)
Spring came early for the Manhattan hotel market’s long, deep chill.
Revenue per available room – one of the key metrics used to measure the health of the hotel market – turned positive at the end of 2017 for the first time in two-and-a-half years, according to a new report from PricewaterhouseCoopers.
RevPAR grew 1.4 percent during the fourth quarter of last year compared to the same time period in 2016, ending a slide of 10 consecutive quarters as hotel operators wrestled with tens of thousands of new rooms coming online, according to PwC.
While that new supply continues to put downward pressure on the average rate hoteliers can charge for a room each night, it’s had less of an impact on occupancy levels as more travelers continue to visit the city.
“What’s really bee上海龙凤论坛sh1f n driving the increases in RevPAR performance have been the leisure customer,” said Warren Marr, managing director in the hospitality practice at PwC. Marr noted that demand in this cycle has been driven by leisure travelers rather than corporate guests, who typically pay higher room rates.
“You’re still getting strong occupancies, but it’s coming from a different source than it has in prior cycles,” he said.
New York City welcomed[……]
OfferPad raises $50M, extends credit line Home-fli上海贵族宝贝 pping platform recently cut ties with Zillow
Single family homes in L.A, Brian Blair and Jerry Coleman
Housing investment platform OfferPad raised $50 million in venture funding from private equit上海同城对对碰交友社区 y firm LL Funds and other investors.
The startup also extended an existing, $100 million credit line, Inman reported.
OfferPad buys hom新上海贵族宝贝论坛 es from owners who want to sell quickly and for a guaranteed price, and then lists them for resale on its online platform. The business model is similar to Opendoor, which recently raised $35 million in equity, a上海夜网 nd Knock.
The company made headlines last month for ending its partnership with Zil上海龙凤论坛 low after the listings giant announced it would offer a similar service of buying and reselling homes.
Founded in 2015 by Brian Blair and Jerry Coleman, OfferPad buys and sells homes in Atlanta, Charlotte, Las Vegas, Los Angeles, Orlando, Phoenix, Salt Lake City and Tampa, and plans to expand into more cities. [Inman] Konrad Putzier
Tags: Real Estate Finance, Tech
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Sign of a slowdown? Wells Fargo cutting 600 mortgage jobs nationwide The bank is “reducing to better align with current volumes”
Wells Fargo CEO Timothy Sloan and a single-family home
Wells Fargo said it would lay off more than 600 employees in its home mortgage business across. The reason: Fewer people are buying homes.
The cuts will affect workers nationwide, including states like California, Florida, North Carolina, and Colorado, according to Bloomberg. The Orlando Sentinel reported that 137 of those employees work in the central Florida city.
In a statement, the bank said: After carefully evaluating market conditions and consumer needs, we are reducing to better align with current volumes.
Wells Fargo is also seeing the end of a refinancing boom, as mortgage interest rates rise, acco爱上海龙凤419桑拿 rding to Bloomberg. Mortgage fees the bank earned dropped to the lowest in more than five years in the second quarter.
The news comes shortly after the National Association of Realtors reported that existing home sales dropped by 0.7 percent in July compared to the same period in 2017. Combined with a decline in June, sales are now 1.5 percent lower than they were a year ago, and have fallen for five straight months on a year over year basis.
One of the reasons for the slowdown could be attributed to steadily rising home prices and may eventually lead to a leveling-off in pricing, experts have said.
In the Northeast, home sales have dipped by 8.3 percent, the most of any region in the cou[……]