277 Park Avenue

Visa swipes in at 277 Park Avenue Credit card processor inks 25K上海千花网论坛 上海千花网 sf lease at Stahl’s Plaza District tower

If the Stahl Organization were looking for a slogan for its 2.1 million-square-foot office tower at 277 Park Avenue, it could try, “Everywhere you want to be.”

Financial services firm Visa, best known for its branded debit and cred爱上海同城论坛 爱上海同城it cards, inked a lease for the full, 25,000 square-foot 50th floor n上海千花网 爱上海同城对对碰ear the top of Stahl’s Plaza District tower, sources told The Real Deal.

The asking rent for the 1上海贵族宝贝 上海千花网龙凤论坛0-year deal was $125 per square foot.

A team at Cushman Wakefield including Peter Occhi, Mark Boisi and James Frederick represented the landlord. David Hollander and Nick Bates at CBRE negotiated the deal on behalf of Visa.

The brokers declined to comment.

The space, which boasts dramatic double-height ceilings, became available for the first time in half a century two years ago as one half of a 50,000 square-foot penthouse on the 49th and 50th floors. That was when the Continental Grain Company relocated to the General Motors Building at 767 Fifth Avenue.

The 49th Floor remains on the market, according to CoStar.

Back in 2014, Visa dropped the “It’s” from the company’s popular slogan, abbreviating it to simply: “Everywhere you want to be.”

The company is relocating from the William Kaufman Organization’s爱上海龙凤419桑拿 上海龙凤论坛sh1f 777 Third Avenue, where it currently occupies 10,810 square feet on part of the building’s 23rd Floor. That space is now available for sublease, wit[……]

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AECOM

AECOM proposes massive resi project in Red Hook The plan calls for as many as 45,000 apartments

Rendering of Red Hook waterfront redevelopment (credit: AECOM)

Construction giant AECOM has proposed a plan to turn the Red Hook waterfront into a residential neighborhood roughly the size of Battery Park City.

The plan includes building as many as 45,000 apartments across more than a dozen towers, Crain s reported. Part of the project would be situated on the Port Authority of New York and New Jersey s Red Hook Container Terminal, as well as city-owned property along Columbia Street. Roughly a quarter of the apartments would be set aside for affordable h上海夜网 阿爱上海同城ousing.

The plans also include extending the No.1 train from lower Manhattan to Brooklyn through a new tunnel unde爱上海同城 爱上海r the harbor and creating th上海千花网 爱上海同城对对碰ree new subway stations.

AECOM s vision, however, is merely hypothetical, and will be presented at a panel hosted by the New York University Rudin Center for Transportation on Tuesday. The firm has three possible scenarios for the project, only one of which would pay 上海龙凤论坛 新上海贵族宝贝论坛for a majority of the subway upgrades. That version of the plan would require a 45-million-square-foot project, which would generate $130 million i上海贵族宝贝 上海千花网龙凤论坛n revenue for the city. [Crain s] — Kathryn Brenzel 

Tags: aecom, red hook
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NYC Market Reports

The week in real estate market reports A weekly feature bringing you the industry’s latest intel

The year-end numbers for New York City s real estate market are mostly down, or flat, in 2016. The number of l阿爱上海同城 阿拉爱上海同城uxury contracts are down 18 percent, one and two-bedroom rents are down 7.4 and 8 percent, and overall growth was a mere 1.7 percent, the weakest in 20 U.S. urban markets.

Residential

Manhattan Luxury Contracts: Olshan Realty
Contracts out on luxury homes dropped 18 percent to 1,102 in 2016, for a total of $8.9 billion. Co-op sales above $4 million dropped 25 percent, and homes stayed on the market for an average of 318 days, 30 percent more than in 2015. Read the full report here.

U.S. home prices: S P CoreLogic Case-Shiller Indices
Nationally, home prices were up 5.4 in October year-over-year, but in New York, the growth rate is a laggard 1.7 percent, the weakest of 20 metro areas. Read the full report here.

NYC price index: StreetEasy
Median爱上海同城对对碰 爱上海同城论坛 rent in Manhattan increased 1.9 percent in November year-over-year to $3,245, while resale prices rose just half a percent. Read the full report here.

New home sales: U.S. Census Bureau
New home sales in November came to a total of 592,000, up 5.2 percent compared to October and 16.5 percent compared to November 2015. Read the full report here.

Manhattan absorption report: Halstead Property
The absorption rate in Manhattan declined from 5.2 to 5.1 in December, but remained 35 percent higher than a year ago. Read the full report[……]

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Governor Malloy vetoes legislation to change standards for affordable housing

Last week,上海龙凤论坛sh1f 上海龙凤论坛 Connecticut Gov. Dannel Malloy vetoed a house bill that would have changed affordable housing standards for the state. Current legislation recommends that 10 percent of housing stock in each municipality be deemed affordable. Until that 10 percen爱上海同城对对碰 爱上海同城论坛t threshold is met,上海千花网论坛 上海千花网 developers building affordable housing are permitted to flout local zoning laws. The rejected 8-30g Affordable Housing Statute revision would have lowered the affordable housing requirement, which proponents said would help to curtail unrestricted developments. In his veto message, Ma爱上海同城 爱上海lloy said the rejected leglislation would “perpetuate the harmful effects of bad economic policy and institutional segregation, damaging our state’s economy and its moral foundation.” [Connecticut Mirror]

Tags: Westchester Fairfield
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Frank Lloyd Wright House For Sale

A pristine Frank Lloyd Wright-designed house in New Canaan, Connecticut, is sitting on the market for $7.2 million. But, despite what you might assume, buye上海夜网 阿爱上海同城rs aren t exactly lining up for the chance to live in a home by America’s master architect. In fact, brokers say selling one of FLW s 380 existing buildings poses unique challenges.

For one, brokers need to become fast experts on the significance and details of Wright and his legacy.

“It’s like dealing with a group of theater critics. You’ve got to put on a good performance to generate accolades, and if you don’t, you’re going to hear from them,” Paul Penfield, the owner of a Wright house in Ohio t上海贵族宝贝交流区 上海贵族宝贝论坛hat is on the market, told the New York Times.

About 45 Wright properties have changed hands in the last five years, according to the Times.

“These houses may not have the number of bedrooms or baths and the large, open kitchens that peo新爱上海同城对对碰论坛 上海同城对对碰交友社区ple demand now, but the livability comes with the warmth and light, and that special feel you have being in these homes,” Barbara Gordon, the executive director of the Frank Lloyd Wright Build上海龙凤论坛sh1f 上海龙凤论坛ing Conservancy, a nonprofit organization in Chicago, 上海贵族宝贝论坛 上海贵族宝贝told the Times. [NYT] Christopher Cameron

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Historic Sag Harbor mansion cuts $4M from price in under two months

The 185-year-old Nathan P. Howell estate on Main Street in Sag Harbor has seen its asking price cut by $4 million in less than two 爱上海龙凤419桑拿 上海龙凤论坛sh1fmonths, with another $1 million reduction last week. Originally listed for $18.75 million in June, the renovated Italianate mansion is now available for $14.75 million. 上海贵族宝贝 上海千花网龙凤论坛The 10,000-square-foo上海同城对对碰交友社区 上海夜网论坛t house has seven bedroom, eight and 上海千花网论坛 上海千花网a half bathrooms and an elevator. The 1.1-acre property has a pool, climate controlled garage and an artists studio. Mark Baron, Jane Babcook, and Eve Gianni of Bro上海千花网论坛 上海千花网wn Harris Stevens have the listing. [Curbed]

Tags: Hamptons
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LA+ Competition

Eco-terrorists with an army of beetles and bees have上海夜网论坛 上海夜网 destroyed Central Park, stripping Frederick Law Olmsted s landmark of its flora and fauna. It is barren and must be rebuilt. All options are on the table. That was the prompt for landscape architecture journal LA+ s recent design competit阿爱上海同城 阿拉爱上海同城ion, which inspired 382 entries from all over the world. Take a look at the five winning d上海龙凤论坛 新上海贵族宝贝论坛esigns.

Tags: Archit上海千花网 爱上海同城对对碰ecture and Design,爱上海同城手机版 新爱上海同城对对碰论坛 Central Park
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Bruce Willis

Westchester Fairfield Cheat Sheet: Toll Brothers, JPMorgan team up on $157M Harrison luxury tower, Bruce Willis lists Bedford estate for $13M … more

Clockwise from top left: Bruce Willis and his wif上海龙凤论坛 新上海贵族宝贝论坛e list their Bedford estate for $13M, Mount上海龙凤论坛sh1f 上海龙凤论坛 Kisco HomeGoods store hits the market for $7.爱上海龙凤419桑拿 上海龙凤论坛sh1f45M, LLC sells industrial flex building in Stamford for $4.875M, and Yonkers landlord arrested for violations as city cracks down on ‘deadbeat owners.

Toll Brothers, JPMorgan team up on $157M Harrison luxury tower
Home construction giant Toll Brothers and J.P. Morgan Asset Management have formed a joint venture to develop a 421-unit luxury apartment building in Harrison, according to GlobeSt. Toll Brothers broke ground on the $157 million project, known as the Carraway, after acquiring and demolishing a three-story office building on the property in August 2017. The joint venture has now secured a $102 million construction loan split between Wells Fargo, National Association and Capital One to complete the Carraway. The Real Deal reported last year that Toll Brothers was one of several national developers flocking to Westchester. [GlobeSt]

Bruce Willis and his wife list their Bedford estate for $13M
Bruce Willis and his wife Emma Heming Willis are parting ways with their 22-acre country estate. The couple put their home at 340 Croton Lake Road in Bedford on the market for $12.95 million爱上海同城手机版 新爱上海同城对对碰论坛 ahead of their move to the West Coast, the Wall Street Journal first repor[……]

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Chevy Chase

Clockwise from top left: Montauk s Surf Lodge to open on time, owner said as she sells Ditch Plains property, Chevy Chase s old East Hampton home lists for nearly $20M, an attorney is hired to investigate East Hampton s settlement with Duryea s owner Marc Rowan and a Brooklyn company prepares to open a glamping site in East Hampton.

Hamptons brokers up in arms over Zillow listing bugs
Zillow Group and residential brokers throughout the Tri-State area have been at loggerheads for some time. Now the rage from residential agents is emanating from the East End of Long Island, where a back-end listing system launched this week by Zillow has the heads of major brokerages furious about technical snafus that have brought business to a halt. The Real Deal reported Wednesday that Zillow s Hamptons portal, Out East, which last year replaced the old Hamptons Real Estate Online (HREO), has debuted a back-end listing tool called Out East Agent Tools. In doing so, Zillow disabled RealNet, a database developed by the former owners of HREO that fed Out East, as well as other aggregators like Realtor.com and the New York Times listings site. The sudden switch to a new system that brokers use to enter and search listings — RealNet now exists in read-only mode — has unnerved brokerage leaders. Town and Country CEO Judi Desiderio told TRD that there are all sorts of things that are must-haves that don t exist in the system and we can t make this work right now. [TRD]

Chevy Chase s old East Hampton[……]

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