421A

REBNY, LaBarbera clash over 421a and union wages Building Trades boss says developers are profiting off the backs of underpaid workers

The boss of the trade group representing New York City s major unions berated developers Monday for what he said was their unwillingness to make small sacrifices on profits in order to fairly compensate construction workers.

“Nobody is doing their building in this city out of the goodness of their heart,” Gary LaBarbera, president of the Building Construction Trades Council of Greater New York, said on a panel at the Sheraton Hotel in Midtown hosted by Crain’s New York Business “We don’t count anybody’s money. God bless them, the more money they can make, it’s all wel上海千花网交友 上海千花网论坛l and good. But when it’s on the backs of workers who are underpaid and exploited, that’s unacceptable.”

John Banks, president of the Real Estate Board of New York, which represents many of these developers, was on the panel and clashed repeatedly with LaBarbera. The two continued the debate over 421a, the now-defunct program which granted subsidies to developers who offer affordable units in new buildings. Ron Moelis of L M Development Partners, Vicki Been, commissioner of the NYC Housing Preservation and Development and Hugh Kelly, of Real Estate Economics, also served as panelists.

An agreement to renew 421a will require REBNY and Building Trades to agree on wage requirements for construction workers at 421a sites. Gov. Andrew Cuomo has said he won’t sign a bill related to[……]

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Sasha Vujacic

Pick and roll: Another Knicks player renting at Moinian s Sky Sa阿爱上海同城 阿拉爱上海同城sha Vujacic takes $8,200-per-爱上海同城手机版 新爱上海同城对对碰论坛month pad at the luxury building

Moinian Group s Sky at 605 West 42nd Street in Midtown West and Sasha Vujacic (credit: NBA)

The Moinian Group’s 71-story Sky rental building in Midtown West seems to be the place to be if you’re spending your days in the world s most famous arena.

Just three months ago, Knicks forward Kristaps Porzingis snapped up the building’s corner penthouse for himself, along with two more units for his brothers. Now backup shooting guard Sasha Vujacic has taken a place of his own at the luxury tower, the New York Post reported.

Vujacic is reportedly paying $8,200 a month for his new two-bedroom pad. The building at 605 West 42nd Street was爱上海同城 爱上海 completed last year. Moinian tapped Bold New York  to market the apartments. Rents at the 1,175-unit building range from about $2,900 for a studio to over $8,000 a month for the penthouse pads, according to StreetEasy.

The building boasts a sky deck, a pet spa and an indoor lap pool. Most importantly, it has a NBA regulation-size basketball court where Vujacic and Porzingis have already been spotted shooting hoops, according to the paper. The co-designer of the court? None other than Knicks star Carmelo Anthony. [NYP] Miriam Hall

Tags: 605 west 42nd street, moinian group, new york knicks
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222 Pulaski Street

City inspector allegedly caught soliciting bribes at BK construction site He threatened to impose a stop work order unless he was paid $15K: DOI

222 Pulaski Street

A city air pollution inspector checki上海千花社区 上海千花网交友ng a Brooklyn construction site threatened to impose a stop work order unless he was paid $15,000 in cash, city officials said.

Sean Richardson-Daniel, who has worked as a city inspector for 16 years, was inspecting the site at 222 Pulaski Street in Bedford-Stuyvesant on Dec. 4, 2015, DNAinfo reported.上海夜网论坛 上海夜网 He allegedly told an informant he thought was a property representative that he would impose the stop work order unless he received the payment. There are no active Department of Environmental Protection complaints against the site, according to the website.

Richardson-Daniel alleged returned to the property three days later and accepted $1,500 in cash. He told the informant that he would “look out for you as much as I could,” and that he was
“going to be in the area for the next two months,” according to the Department of Investigation.

Richardson-Daniel has been charged with bribery and is expected to be arraigned in Brooklyn Criminal Court this week.

In a statement, acting Brooklyn District Attorney said his alleged actions undermined the public s trust in city government.

新爱上海同城对对碰论坛 上海同城对对碰交友社区

“Honest inspections keep workers and citizens safe, especially now during Brook上海千花网龙凤论坛 上海千花社区lyn’s booming real estate market,” he said.

In 2015, the city announced they were c上海夜网论坛 上海夜网harging up[……]

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237 Park Avenue

Walton Street abandons plan爱上海 爱上海WIFI to sell 237 Park, refis instead Firm owns office tower in partnership with RXR Realty

From left: Jeffrey Quicksilver, 237 Park and Scott Rechler

Walton Street Capital abandoned plans to sell its 49 percent stake in 237 Park Avenue , according to sources familiar with the transaction. Instead, Walton and its partner RXR Realty refinanced the trophy office tower with a $850 million mortgage.

The new阿爱上海同城 阿拉爱上海同城 lenders are Morgan Stanley and Societe Generale, sources said. The loan replaces a $419.6 million CMBS mortgage overseen by U.S. Bank as trustee, property records indicate.

Cushman Wakefield brokered the debt deal, sources say. The brokerage declined to comment, as did RXR and Walton. The lenders could not be reached for comment Sunday.

RXR, led by Scott Rechler, and Walton, led by Jeffrey Quicksilver, bought the 21-story, 1.25 million-square-foot tower for $810 million in 2013 from a Lehman Brothers-controlled entity.

In March, Walton put its stake up for sale, with Rechler seeki爱上海龙凤419桑拿 上海龙凤论坛sh1fng a new equity partner and recapitalization of the building to roughly $1.4 billion, the New York Post reported.

Last year, the New York Presbyterian Hospital signed a 500,000-square-foot上海龙凤论坛 新上海贵族宝贝论坛 lease at the building, which was 98 percent leased as of March.

Tags: Morg爱上海同城 爱上海an Stanley, RXR Realty
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Sidewalk sheds NYC

Cure is worse than the disease for sidewalk shed problem, REBNY and city say Proposed bill would make landlords 爱上海同城论坛 爱上海同城get rid of sheds if no work is done on building for seven days

From left: Mayor Bill de Blasio, a sidewalk shed and John Banks (Credit: Getty Images and Jhila Farzaneh for The上海夜网 阿爱上海同城 Real Deal)

Mayor Bill de Blasio and the real estate industry do not always get along, but they have found one thing to agree on: a proposed solution for the city’s sidewalk shed epidemic is a bad idea.

The bill proposed by Councilmember Ben Kallos would require landlords to take down sheds at buildings where no work has been done for seven days, and although he proposed the bill late last year, it just recently had a hearing, according to Crain’s.

While the de Blasio administration and the real estate community agreed that the sheds are ugly, they both said Kallos’ bill could make them come down too quickly, which would put public safety at risk.

The Real Estate Board of New York argued that the bill would have unintended consequences, noting that it would be very costly for landlords to take the sheds down and reinstall them given how often construction projects are delayed for reasons beyond their control.

REBNY plans to meet with Kallos on Nov. 15 to discuss his bill, and the council member will hold a public meeting about it on Nov. 14 at his office.

A map from the Department of Buildings released in May showed爱上海同城对对碰 爱上海同城论坛 that the city had more than 7,700 sidewalk sheds spanning 280 m[……]

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1100 Sixth Ave

Bank of America to上海贵族宝贝交流区 上海贵族宝贝论坛 l上海龙凤论坛sh1f 上海龙凤论坛ease all of 1100 Sixth Banking giant will take all 386K sf at Midto上海贵族宝贝论坛 上海贵族宝贝wn building

1100 Sixth Avenue and Bank of America s Brian Moynihan

Bank of America will lease the entire 386,000-square-foot building at 1110 Sixth Avenue, consolidating several offices around the city.

The banking giant and Brookfield Property Partners struck the lease deal on Christmas Eve, which will see the Charlotte-based bank move上海千花社区 上海千花网交友 into 1100 Sixth Avenue in 2019, when current tenant HBO moves into 30 Hudson Yards, the New York Post reported.

Bank of America will hold on to its Manhattan headquarters across the street at One Bryant Park, but will likely consolidate its various offices like Rockefeller Center and the GM Building.

Brookfield and Swig Company bought the leasehold at 1100 Sixth earlier this year from the Nickerson family. The leasehold owners plan to redevelop the property. [NYP] James Kleimann

Tags: Bank of America, Broo上海千花网交友 上海千花网论坛kfield Property Partners, Manhattan Office Market
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Katsumi Tada

Japanese billionaire unloads Trump Tower apartment for $25M Katsumi Tada sold unit at a slight loss after almost two years on the market

1 Central Park West, 47BC (Credit: Douglas Elliman)

Katsumi Tada, a Japanese billionaire, has sold his Trump International Hotel and Tower apartment for $25 million.

The apartment was on the market for almost two years, and Tada sold it at a slight loss, having paid $26 million for it in 2008, according to the Wall Street Journal. He initially listed the unit in May 2016 for $40 million 上海夜网论坛 上海夜网but cut the price multiple times.

The s上海夜网论坛 上海夜网ix-bedroom, six-bathroom unit spans about 6,360 square feet and has a marb上海千花社区 上海千花网交友le-floored foyer and gold-leaf gilded doors. It overlooks Columbus Circle and the south end of Central Park.

Tada is the head of Daisho Development, a Tokyo-based company that owns and develops office buildings in Japan, Singapore and Australia. He is worth $2.1 billion, according to Forbes. [WSJ] – Eddie Small

Tags: Donald Trump, NYC Lu爱上海龙凤419桑拿 上海龙凤论坛sh1fxury Market, Residential Real Estate
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Rechler Equity Partners in talks with Westhampton officials to build potential community center

Rechler Equity Partners in talks with Westhampton officials to build potential community center上海贵族宝贝交流区 上海贵族宝贝论坛

Westhampton officials are in preliminary talks with Rech上海贵族宝贝论坛 上海贵族宝贝ler Equity Partners to build a community center in the Hampton Business District, an area near Francis S. Gabreski Airport that the Plainview-based firm is already building and operating. Town officials initially floated the idea of a day care, but are now pushing for an up to 5,000-square-foot space for seniors and others to meet. When the idea first cropped up 15 years ago, town officials thought a new center would cost about $8.5 million, but now believe Rechler c阿爱上海同城 阿拉爱上海同城ould save them as much as $3.5 million on the project. [27East]

Tags: Hamptons上海龙凤论坛sh1f 上海龙凤论坛
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520 Park Avenue

Arthur Zeckendorf and 520 Park Avenue (Credit:上海千花社区 上海千花网交友 Getty Images and 520 Park Ave)

Zeckendorf Development’s 520 Park Avenue just got its first closing.

Unit 18 closed上海贵族宝贝论坛 上海贵族宝贝 at the building for $16.9 million, according to New York City Department of Finance records. The buyer is Ronn Torossian, founder of 5WPR, sources said. He purchased the unit through a 新爱上海同城对对碰论坛 上海同城对对碰交友社区limited liability company, RAFEMA LLC, sources confirmed.

Attorney Edward Mermelstein of One and Only Realty helped to broker the deal and Petro Zinkovetsky was the signatory on the deed. Sources said Zeckendorf has rec爱上海同城对对碰 爱上海同城论坛eived the TCO for the building and move-ins are expected to begin this month.

Interior of 520 Park Avenue

Torossian is known for his dealings with people in President Trump’s orbit. Earlier this year, he wrote an op-ed announcing that he testified before a Washington grand jury convened by special prosecutor Robert Mueller about his involvement wit上海千花社区 上海千花网交友h Paul Manafort. His firm also represented Sinclair Broadcasting, the largest television station operator in the U.S. that draws attention for requiring its anchors to read pro-Trump scripts.

The New York Attorney General declared the building’s offering plan effective about a year ago. The developer said it was aiming for a $1.2 billion sellout at the 34-unit building.

Other residents at 520 Park include billionaire Frank Fertitta, former owner of Ultimate Fighting Championship; former Barclays CEO Bob Diamond; and Dyson company founder Jam[……]

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520 Park Avenue

Trust associated with real estate mogul closes on $30M unit at 520 Park Entity linked to JRK Property Holdings’ James Lippman purchased the pad

Arthur Zeckendorf and 520 Park Avenue (Credit: Getty Images and 520 Park Ave)

As the closings continue at Zeckendorf Development’s 520 Park Avenue, the latest deal to hit city records is for $30 million.

The buyer is a trust associated with James and Linda Lippman, according to records filed with New York City’s Department of Finance. James Lippman is the founder and CEO of JRK Property Holdings.

The Los A上海千花网龙凤论坛 上海千花社区ngeles-based firm has a $6 billion portfolio of hotels and multifamily units spanning 爱上海同城论坛 爱上海同城20 states, according to its website. It s one of the largest mult上海千花网 爱上海同城对对碰ifamily apartment owners in the country. Lippman couldn’t immediately be reached for comment.

Unit 34 was originally listed for $33.85 million. The single-floor apartment covers about 4,600 square feet — and includes a master bedroom suite with two full bathrooms. The condo also has a library.

This closing follows a string of other sales — including some of the project’s priciest units — that have recently hit records. Billionaire investment banker Ken Moelis bought a $62 million penthouse at 520 Park. It’s among f爱上海同城论坛 爱上海同城our duplex penthouses at the Robert A.M. Stern-designed project, which also features a $130 million triplex penthouse among its 33 units.

Closings began at 520 Park in September. Last year, it was reported that b上海千花网交友 上海千花网论坛illionaire Frank Fertitta, for[……]

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