The Real Deal New Jersey

The New Jersey Market Report is live! Including interviews with SJP and Ironstate execs — and a look at the top commercial leases

New Jersey, the No. 1 state in the country when it comes to population density, is a more muddled equation when it comes to real estate.

Its “Gold Coast” along the Hudson River will soon house some of the tallest buildings and yet, the three most visible cities across from Manhattan are still testing the limits of their transportation and infrastruc爱上海同城对对碰 爱上海同城论坛ture systems. Many local developers and policymakers want to establish something greater than the next Brooklyn.

爱上海同城对对碰 爱上海同城论坛For our annual New Jersey Market Report, The Real Deal explored the inner workings of the five most active counties in the Garden State for people in the property business: Bergen, Hudson, Essex, Morris and Passaic.

We sat down with the executive team as Parsippany-based SJP, one of the biggest developers in Jersey, to talk about their latest developments. We also spoke with another huge developer, Ironstate’s president David Barry, to hear about his vision for Jersey City in the upcoming years.

TRD took a close look at the biggest commercial lease deals and sales in the five counties and how the area’s largest development projects are being financed.

Bu上海千花网龙凤论坛 上海千花社区t while New Jersey is catching up to New York on the commercial real estate development and luxury condo sides of the equation, it also held the highest single-family home foreclosure rate of any state in the country in the past two years.

Meanwhile, many of the state’s suburban office parks have bec上海龙凤论坛sh1f 上海龙凤论坛ome increasingly outdated, vacant and in need of a gut renovation.

And while the state’s top residential agents are brokering big luxury home sales, especially in the posh suburbs of Bergen County, they also have their share of challenges.

Enjoy the issue! TRD

Tags: Gold Coast, New Jersey
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182 Spring Street

Waterbridge, partners file for Ch. 11 on stalled Soho development Joel Schreiber wants to sell 182-186 Spring Street for $38M: bankruptcy filings

182 Spring Street

The developers of a stalled Soho condominium at the former home of the Beastie Boys’ Adam Horovitz have filed for Ch上海千花网龙凤论坛 上海千花社区apter 11 bankruptcy.

A partnership between Stéphane Boivin and Stéphane Bibeau’s Nordica Soho and Joel Schreiber’s Waterbridge Capital owe creditors roughly $26 million, according to the June 27 bankruptcy filing.

Boivin and Bibeau acquired neighboring row houses at 182 and 186 Spring Street for nearly $16 million in 2011, with plans to d上海贵族宝贝论坛 上海贵族宝贝evelop a mixed-use building with several stories of condos. But a year later, they ran into trouble when lender Silo Capital filed a foreclosure suit, claiming that the developers improperly demolished the buildings, which were being held as collateral on a $5.6 million loan.

In 2013, Waterbridge paid $4.5 上海龙凤论坛sh1f 上海龙凤论坛million for a 49 percent stake in the project, and the new partnership subsequently refinanced the mortgage with Acadia Realty Trus阿爱上海同城 阿拉爱上海同城t for $12 million. According to city records, second lender, an LLC headed by dentist Michael Aronoff, is owed $9.8 million for offering a piggyback mortgage to Nordica Soho for selling its stake to Waterbridge.

According to the Chapter 11 filing, the project stalled and the delay led to defaults on the loans. By filing for Chapter 11, the developers intend to sell the property, which they claim has a fair market value of $38 million.

In 2013, Nordica Soho denied rumors that the property was on the market after the parcels hit StreetEasy with an asking price of $38 million.

The developer shelled out $10.1 million for 182 Spring, and it paid Horovitz $5.5 million for 186 Spring in 2011. Plans called for a mixed-use project with two stories of retail and an ambulatory care facility, plus five stories of condos.

Last year, Schreiber was also sued for $10 million by an investor in 152-154 Spring Street, a boutique condo project down the street.Investor Marco Di Laurenti claimed in court papers that he sold Schreiber 154 Spring in 2012 for  $17 million, and subsequently invested $1.29 million into the project.But Di Laurenti said Schreiber subsequently sold the retail portion of 152-154 Spring to lender Acadia Realty Trust for $38 million and Di Laurenti didn t see a penny of the proceeds. Acadia acquired the retail space by converting Waterbridge s $38 million mortgage into an equity stake in the project.In court filings, Schreiber and Waterbridge claim they ha新爱上海同城对对碰论坛 上海同城对对碰交友社区d no fiduciary relationship with Di Laurenti.Tags: chapter 11, joel schreiber, waterbridge capital
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Donald Trump Tower NYC

“Trump Arithmetic” makes his towers taller Mogul popularized practice of boosting floor counts

Trump Tower and Donald Trump

Time will tell if Donald Trump will get the numbers he wants in the presidential election. His buildings in New York City, on the other hand, have already been worked out by the Trump Arithmetic.

With his 68 story – 爱上海同城手机版 新爱上海同城对对碰论坛or is it 58 – Trump Tower, the real estate mogul may have popularized the now industry-wide practice of stretching the floor count in residential condominium towers, the New York Times reported.

“The higher your building, the better it is for your marke阿拉爱上海同城 爱上海龙凤419桑拿ting purposes,” The Real Deal publisher Amir Korangy told the newspaper. “Nobody’s trying to have the shortest building in the city, so any sort of edge you can get to add a floor here and there, you take it.”

Developer Harry Macklowe , whose 78-story Metropolitan Tower actually stands 67 stories tall, credited Trump with the idea. Not surprisingly, so did Trump himself.

“A lot of people h上海贵族宝贝论坛 上海贵族宝贝ave copied me,” he told the times back in 2003.

“It was considered a novel idea,” when the 上海千花社区 上海千花网交友concept originated, said architect Costas Kondylis, who designed many of Trump’s buildings in the city.

Korangy, who produced a documentary on Kondylis, said that Trump may have gotten the idea from the modern architect Philip Johnson, a frequent collaborator.

At least eight Trump buildings in Manhattan appear to have some difference between the actual number of floors and the number used for marketing purposes, the Times found.

At some buildings, such as the Trump International, buyers were required to sign off and acknowledge the discrepancy.

“People are very happy,” Trump said. “They like to have apartments that have height, the psychology of it.” [NYT] – Rich Bockmann

Tags: amir korangy, condo market, Costas Kondylis, Donald Trump
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Hong Kong Parking Spot

So Santa replaced his sleigh with the 675LT Spider!! #ferrari #f12 #tdf #458 #speciale #430 #scuderia #16m #porsche #caymam #gt4 #mclaren #675LT #spider #nissan #gtr #nismo #godzilla #audi #rs6 #mercedes #amg #sls #blackseries #hermes

A post shared by Richard Lau (@richard_xrx) on May 14, 2017 at 8:31am PDT

If you think millennials have it tough in the US, they really have it hard in Hong Kong.

In the latest in上海千花网龙凤论坛 上海千花社区stallment of jaw-dropping Hong Kong property prices, a parking spot in the Upton, a luxury apartment building in the Western District of Hong Kong, recently sold for $664,000, The New York Times reports.

This is basically the price o上海夜网论坛 上海夜网f one flat in Hong Kong, Lennon Choy, an associate professor of real estate and construction at the University of Hong Kong, told The New York Times.

Choy went on to say what everyone is thinking:  This is crazy, 上海龙凤论坛 新上海贵族宝贝论坛actually.

The record-breaking parking spot is almost double the price of a Hong Kong parking spot that sold for $387,000 in 2012 and caused quite a stir at the time. The previous record爱上海同城 爱上海 for most expensive parking spot was $615,000 in 2016, The New Y上海贵族宝贝 上海千花网龙凤论坛ork Times reported.

If the Rich Kids of Hong Kong Instagram account is any indicator, parking spots for luxury cars may be particularly in-demand. There is no shortage of cars in the photos, including a McLaren 675LT Spider that has a starting price of $372,600.

Compared to the $664,000 parking spot, the McLaren could almost look like a steal.

But compared to the current median price of a home in the US, which is $309,200, according to the Federal Reserve, all of it seems pretty insane.

Tags: hong kong
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When deciding which t爱上海同城论坛 爱上海同城itle insurance company to hire to p阿爱上海同城 阿拉爱上海同城rotect your valuable real estate asset, the obvious decision is to review the firms with the most experience underwriting high-priced property. The Real Deal s New 爱上海同城手机版 新爱上海同城对对碰论坛York City real estate database, TRData, has combed through over 60,000 transactions from the last 10 years and put together a list of the 100 title insurers that represented the most expensive deed transactions in the city.

Knowing that a title insurer has successfully represented a building of similar price and size to a property currently in development can be exactly the information needed to make your choice of title insurer. Additionally, knowing that the company and the specific representative have successfully completed thousands of similar transactions is better than any review you could find for the company.

TRData has assembled 100 of the title insurance companies that appear most often and represent the most expensive buildings in New York City. Purchase this package to find the name, address, phone number and email address for each company.

To download a free sample of the top title insurance companies, click here
To purchase a full list of the top title insurance companies, click here.
Contact Derek Smith at [email protected] with any questions.

Tags: TRData
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3 Hudson Boulevard

Moinian Group seek上海贵族宝贝论坛 上海贵族宝贝s investor for
3 Hudson Boulevard, boots Avison Young Developer redesigns tower, increases floorplates

Joe Moinian, a rendering of 3 Hudson Boulevard (credit: FXFOWLE) and JLL s Peter Riguardi

The Moinian Group hired JLL to line up an investor and office tenants for Its 3 Hudson Bou上海龙凤论坛 新上海贵族宝贝论坛levard development on Manhattan’s Far West Side.

The brokerage is replacing Avison Young, which has handled leasing for the past few years. Moinian secured a ground loan for the site at 34上海千花网交友 上海千花网论坛th Street and 11th Avenue in 2014 and announced plans for a 1,000-foot-tall, 1.5-million-square-foot office上海同城对对碰交友社区 上海夜网论坛 tower.

A groundbreaking is scheduled for Friday, but the developer has yet to secure an an anchor tenant.

Moinian also decided to redesign the tower, making it larger overall but shorter, the New York Post reported. New plans call for a 940-foot-tall tower spanning 2 million square feet.

According to the Post, the sought-after investor could be either an office user that wants to buy its own floors or a more conventional equity partner. [NYP] Konrad Putzier

Tags: 3 hudson boulevard, moin爱上海同城对对碰 爱上海同城论坛ian group
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11 Hoyt St

Sales have launched at Tishman Speyer’s 11 Hoyt. Here’s a look inside The Downtown Brooklyn project is slated for completion in 2020

Renderings of 11 Hoyt Street in Brooklyn (Credit: Binyan Studios)

Tishman Speyer is launching sales at its 57-story tower at 11 Hoyt Street.

The 481-unit project — which is rising on the site of a Macy’s parking garage — is expected to be completed in 2020. Corcoran Sunshine Marketing Group is handling sales, and prices range from $600,000 for studios to about $3.4 million for four-bedroom units.

Amenities include a 75-foot saltwater pool, a gym with a squash court and a sauna, and a 27,000-square-foot private park.

Designed by Jeanne Gang, of Chicago-based Studio Gang Architects, 11 Hoyt has a scalloped exterior made of cast concrete and glass. The design allows for bay windows in some of the units, providing extra space, according to a release from the developer. And there are roughly 190 different floor plans in the building.

Developers are increasingly trying to differentiate units in an oversupplied market. Strategic Capital, for example, commissioned an artist for its marketing campaign for Greenwich West. And the Naftali Group did unique staging for each of the remaining units at The Shephard.

Michaelis上海贵族宝贝 上海千花网龙凤论坛 Boyd Associ上海夜网论坛 上海夜网ates, a London-based firm which worked on different Soho House clubs, designed the interiors of 11 Hoyt.

Tishman secured a $380 million construction financing package爱上海同城 爱上海 earlier this year from JPMorgan Chase, Starwood Property Trust and iStar Financial.

Tags: brooklyn condos,上海千花社区 上海千花网交友 Downtown Brooklyn, Residential Real Estate
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Ginnie Mae

Ginnie Mae ramps up scrutiny of nonbank mortgage lenders Agency’s exposure to sector has ballooned since 2008

(Credit: iStock)

Ginnie Mae, the agency that guarantees mortgages made by various government institutions, is taking unprecedented steps to address concerns over the role of nonbank lenders in U.S. housing markets.

For the first time in years, the agency has asked a number of these lenders to improve financial metrics before receiving full approval to continue issuing Ginnie-backed mortgage bonds. Maren Kasper, who became the agency s acting head this month, declined to name the specific firms but noted they included both large and small lenders, and that they have been receiving short-term approvals in the meantime.

The agency has also conducted its first ever stress tests of business partners, to see how well their monthly cash-flow obligations would hold up under reduced loan production and increased delinquencies.

While 34 percent of securities issued by Ginnie Mae were serviced by nonbank lenders in 2014, that share has now increased to 61 percent. The agency s outstanding issuance of mortgage bonds is now 上海千花社区 上海千花网交友$2 trillion, a fivefold increase since the financial crisis.

A cooling housing market, with mortgage refinancing recently falling to its lowest level in 18 years, has raised concerns about nonbank lenders a爱上海同城手机版 新爱上海同城对对碰论坛bility to meet their financial obligations since their balance sheets are s爱上海龙凤419桑拿 上海龙凤论坛sh1fmaller than traditional banks.

In the worst-case scenario, disorderly failures of these servicers could lead to losses that ultimately have to be paid for by taxpayers.

Though some in the industry argue that the strong post-crisis regulatory framework makes t爱上海同城 爱上海hese challenges manageable, other observers note that the system has never been truly tested.

The largest nonbank lenders by mortgage-origination volume last year were: Quicken Loans Inc., PennyMac Loan Services LLC and United Wholesale Mortgage. [WSJ] Kevin Sun

Tags: Mortgages, Real Estate Finance, Residential Real Estate
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Microsoft combines Paradox to make MOD platform for PC and XboxOne

Although be in,MOD is PC game only before is exclusive prerogative, as ” antediluvian reel 5: Horizon ” wait for game roll out, platform of plane of family expenses sport also begins to join this to add the function of new content ceaselessly for game. Today, paradox Interactive announces to cooperate with Microsoft, make independent MOD platform for PC and XboxOne. Microsoft and Paradox Paradox Mods described as ” head the direct medium of communication that MODER releases opus in platform of family expenses machine ” . Apparent, MOD fabricant needs to upload their work only, no matter be,go up in the webpage, these work will be sent the PC version of XboxOne and the sport that it supports by cent. Controller of Paradox Mods product (Anders Torlind gave out to establishing the account of this platform more opinion, does he say: ? Chasm of cheek of Xuan of dam take along sth to sb flinchs cochlea peddles ⑿ crab to wring award Lai  of Zhan of clump of sauce of Yun of Xie Jiyi Wo of  of numerous K of  of M of a key to do sth of cheek of  of Piao   Jie is denounced small! The sport that? supports this MOD platform first times is ” spark seeks to live on ” , this game will pass the support that adds pair of MOD newlier freely today’s. Henceforth ” city: Horizon line ” and ” galaxy ” also will support MOD through this one platform. Because this MOD platform is,announce those who make to cooperate with Microsoft by Paradox Interactive nevertheless, do not know whether PS4 platform also can join similar MOD platform. [……]

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The player has wisdom series! Gao Wanfa shows most efficiency ” wolf ” brush skill easily to nod secret ability without the battle

The player has wisdom series! Gao Wanfa shows most efficiency ” wolf ” brush skill easily to choose secret ability time without the battle: 2019-04-03 15:40:37 origin: 3DM compiles an author: Shi Zhidi edits: Tao Di
Palace Qi old enemy once more of outrageous player expect your work ” wolf ” recently put on sale and explode reputably watch, each player indulges self-abuse hard extricate oneself, and the essential skill point in game also is brushed head big, have always nevertheless play forwardly high to show a labyrinth for us, play high bask in went out so-called most efficiency ” wolf ” brush skill easily to nod secret ability without the battle, learn together. Although · has had what a lot of players sum up to brush skill to choose a method at present, should hit ceaselessly however saying to go up hard quite is relaxed efficiency, demonstrate to look according to what this player releases, the attack that needs to escape 2 enemies easily in cliff edge only lets them drop cliff suicide is OK do not have a battle easily quickly to brush skill madly to nod again already, the netizen nods what assist says to be able to calculate really to go up in succession is the most businesslike method. · is returned what to wait for, learn together:[……]

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