Month: June 2019

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69 Horatio Street

Fight over ownership of $7M Village townhouse heads to court The four-story, three-unit building on Horatio Street is under contract

69 Horatio Street in the West Village

The Surroga爱上海同城 爱上海te’s Court in Man爱上海同城对对碰 爱上海同城论坛hattan will now decide the owner of a West Village apartment building, following a bitter dispute between the late owner’s family and his partner of more than 50 years.

Bill Cornwell and Tom Doyle lived in the brownstone at 69 Horatio Street for more than five decades. Cornwell, who was the sole title holder of the four-story, three-unit building, died in 2014 at age 88. His decade-old will left all his belongings, including the West Village building, to the 85-year-old Doyle. But as the document was signed by just one person, not two, it is not legally valid and all assets automatically go to the next of kin, the New York Times reported.

A number of Cornwell’s nieces and nephews now claim to own the building, and have entered into contract to sell it for $7 million. They reject the suggestion their uncle wanted Doyle to inherit the property.

However, Doyle said there “should be no question” over who owns the building. He is suing Cornwell’s nieces and nephews in Surrogate’s Court, arguing that he was Cornwell’s spouse and all assets should therefore go to him even if there is no will.

Doyle and his lawyers argue the two men were in a “common law marriage.” Such a union is not legally recognized in New York state. But the suit argues that because the couple visited Penns[……]

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EverBlock

Are oversized Lego blocks the bui阿拉爱上海同城 爱上海龙凤419桑拿lding material of the future?新爱上海同城对对碰论坛 上海同城对对碰交友社区 Check out the vi爱上海同城手机版 新爱上海同城对对碰论坛deo after the jump

NYC lost its one its only modular home manufactures at the Brooklyn Navy Yard in 2016. Still, modular building is having a moment, especially with the city s first wave of modular micro-apartments at Carmel Place opening.

But modular may soon mean getting even smaller. Smaller than buildings. Smaller than apartments. We re talking modular rooms built out of materials like over-sized lego blocks.

A company called EverBlock Systems has created a series of 上海夜网论坛 上海夜网universal multi-colored building blocks that can be used to create a variety of structures that are easy to disassemble and reshape.

Like the toys of our childhood, which enabled us to express ourselves and realize our vision in physical products, EverBlock was conceived to al上海夜网论坛 上海夜网low designers, decorators, and inventors everywhere to economically build their dream objects, the block manufacture, EverBlock Systems, says on its website. What you construct is limited only by your imagination.

Check out the video below and see what you think.

Tags: modular construction
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Harry Macklowe

Harry Macklowe offered his wife $1B to
end marriage Developer tells husband-wife jokes after divorce hearing Tuesday

From lef上海千花网论坛 上海千花网t: Patricia Landeau (credit: Instagram), Harry Macklowe and Linda Macklowe (credit: Getty Images)

How much is 58 years of marriage worth? $1 billion if you re Harry Macklowe.

That s how much the developer of 432 Park Avenue and 1 Wall Street offered his wife, Linda Macklowe, last year to walk away from their decades-long union — only to be rebuffed and served with divorce papers instead, according to the New Yo爱上海龙凤419桑拿 上海龙凤论坛sh1frk Post.

“As soon as this divorce is over, I’m getting remarried,” Macklowe said Tuesday, following a divorce hearing at Manhattan Civil Court.

M爱上海 爱上海同城手机版acklowe left his wife last year for Patricia Landeau, a museum director in her early 60s whom Macklowe reportedly hid for two years at his development at 737 Park Avenue.

With no prenup, Harry and Linda Macklowe are fighting over a vast fortune that includes $1 billion worth of art, which Linda controls. Amid the divorce proceedings, Harry also sued their son, Billy, for allegedly breaching fiduciary duties related to their business operations and usurping control of his father s websites.

After the hearing on Tuesday, the developer entertained reporters with a series of husband-and-wife jokes. After 阿拉爱上海同城 爱上海龙凤419桑拿suggesting that his audience check out his act on the website OldJewsTellingJokes.com, he lamented that his soon-to-be ex-wife never laughed at his jokes.

Linda and her lawyers declin[……]

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The Bilbao Effect on Real Estate

Here s why unique, distinct buildings are viewed as cash cows The answer lies in northern Spain

(Xauxa/Wikime上海千花网龙凤论坛 上海千花社区dia Commons)

Twenty years ago, a small town in northern Spain underwent a transformation thanks to the opening of a new museum, the Guggenheim Museum Bilbao. Art tourists flocked to the small town, invigorating its local economy and turning it into a global destination the results of which are now known as the Bilbao Effect.

Surface interviewed a series of renowned architects about how the Bilbao Effect changed them, including Zaha Hadid Architects director and senior designer Patrik Schumacher.

We were well aware that the atmosphere and receptiveness around unusual architecture had really shifted, he said in a statement to Surface. Now, a 上海龙凤论坛sh1f 上海龙凤论坛lot of times we hear that we are invited to competitions that are looking for an iconic landmark, which puts the city on the map. So many cities have been trying to do that.

Designed by爱上海龙凤419桑拿 上海龙凤论坛sh1f Pritzker Prize-winning architect Frank Gehry, the museum opened on Oct. 18, 1997 and, as of January 2016, has generated about $427 million in direct spending over the past two decades while empl上海贵族宝贝交流区 上海贵族宝贝论坛oying almost 6,900 people.

To celebrate its 20th birthday, the museum is free this weekend just in case you re in northern S上海夜网 阿爱上海同城pain and hadn t heard of Bilbao.

[Surface] E.K. Hudson

Tags: Architecture and Design, Development, Real Estate Finance
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GOP Tax Plan Real Estate

Potential tax overhaul giving New York home buyers pause Market may slow down as proposed bills would likely increase home owners爱上海同城对对碰 爱上海同城论坛hip costs

Luxury apartments in Manhattan (Credit: Beyond My Ken)

The Republican Party’s proposed tax plans will likely increase the cost of owning a home, and New Yorkers are already taking notice.

The plans, which would reduce or eliminate taxpayers’ ability to deduct high state and local property taxes on their federal returns, are making potential buyers in New York think twice before making a purchase, according to the Wall Street Journal.

The tax issue has started to come up regularly in discussions with potential buyers, and some have already put their purchasing plans on hold. New York City may have to lower its expectations for the amount of revenue it gets from transfer taxes on residential sales because there could be fewer of 新爱上海同城对对碰论坛 上海同城对对碰交友社区them.

“It is an uncertain time in the world,” Brown Harris Stevens president Hal上海千花网交友 上海千花网论坛l Willkie told th爱上海同城手机版 新爱上海同城对对碰论坛e Journal. “This is going to create another little pause until people get their hands around it.”

The outlook is much rosier on the commercial side, where real estate players, especially condominium developers, could see several benefits under the plans. [WSJ] – Eddie Small

Tags: Residential Real Estate
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After GE’s exit, Fairfield’s first selectman looks to fill the void with small businesses

After GE’s exit, Fairfield’s first selectman looks to fill the void with small businesses

Fairfield First Selectman Mike Te上海千花网 爱上海同城对对碰treau wants to grow the private sector in his town and may press for changes to zoning laws to make it happen爱上海同城手机版 新爱上海同城对对碰论坛. When General Electric abandoned its Fairfield headquarters after 42 years, it left a “$2 million revenue hit we have to make上海贵族宝贝交流区 上海贵族宝贝论坛 up,” Tetreau told the Fairfield County Busines上海千花网交友 上海千花网论坛s Journal, but he believes smaller businesses rather than corporate campuses are the way for阿拉爱上海同城 爱上海龙凤419桑拿ward. “The economy is driven by companies with under 500 employees,” he said. [FBJ]

Tags: Westchester Fairfield
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Long Island Real Estate News

It’s not called Strong Island for nothing. The real estate markets in Nassau and Suffolk counties are, by and large, thriving, data and accounts from industry players show. Indeed, there’s ever-increasing demand for commercial and residential spaces of every type, making it a market to bet on. And investors surely have, as is evidenced by our ranking of the priciest commercial sales of the year, which reveals that businesses from far-flung locales are angling for a piece of the local prosperity.    

But an island that “sells itself” to investors presents big challenges to residential brokerages, which are endlessly engaged in a struggle to increase their market share despite shrinking inventory and growing competition. For our cover story, reporter Christopher Cameron looked at the firms that logged the highest sales volumes last year. Pervasive poaching practices have been a thorn in the side of those forced to match unsustainably high commission splits and huge signing bonuses in order to maintain their talent pools. In addition, more New York City brokerages are rumored to be pouncing on the Island.

If there’s someone who’s faced his上海龙凤论坛 新上海贵族宝贝论坛 share of thorns — and been one himself — it’s developer Jerry Wolkoff, who was just ordered to pay $6.7 million to graffiti artists after he painted over their work at 5Pointz in Long Island City, property he’s owned since the early ’70s. But the man behind Islip’s Heartland Town Center has bigger fish to fry at the moment — he’s facing[……]

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Avery Hall Investments

Avery Hall Investments files plans for Brooklyn resi tower Building will feature 122 units, according to filings

One Boerum Place (inset from top: Avery Hill founders Brian Ezra and Avi Fisher)

Avery Hall Investments filed plans to build a 204,000-square-foot residential building at One Boerum Place in Downtown Brooklyn, according to data from the Department of Buildings.

The 21-story building will have 122 residential units, according to the filing爱上海龙凤419桑拿 上海龙凤论坛sh1f, which was pre-filed on May 2.

Midtown South-based Avery Hall and partners Allergra Holdings and Aria Development Group paid Brooklyn Law School $76.5 million in 2016 to acquire the site, located 7 Boerum Place. Th上海龙凤论坛 新上海贵族宝贝论坛e developers also purchased approximately 50,000 square feet of air rights for $16 million, in order to build a larger structure.

The partners recently completed  a 30-unit condominium at 465 Pacific Street in Boerum Hill and are underway with a 17-unit condo project at 145 President Street in Carroll Gardens.

Correction: A previous version of this article incorre上海夜网论坛 上海夜网ctly identified the Carroll Gardens address and the project s status. 

Tags: Commercial Real Estate, D爱上海同城论坛 爱上海同城owntown Brooklyn
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David Marx

David Marx lands $125M loan from Moinian for Hudson Yards hotel Deal ups previous Monian loan from $90M

From left: Renderings of 461 West 34th St阿爱上海同城 阿拉爱上海同城reet, Joseph Moinian, and David Marx (Credit: CityRealty, Moinian, and Marx Development Corp.)

David Marx’s Marx Development Group has refinanced one of its Hudson Yards hotels with a $125 million loan from the Moinian Group, according to documents filed with the Tel Aviv Stock Exchange. The loan replaces a previous $90 million loan from Moinian, which expires today.

The 29-story Courtyard by Marriott, located at the corner of West 34th Street and 10th Avenue, is scheduled to open in the winter of 2018, according to the report.

Marx had worked with another lender to refinance the loan but Moinian exercised its option to provide the funds instead. The three-year loan will amount to $125 million or 50 percent of the asset value after stabilizat上海千花网 爱上海同城对对碰ion, whichever of the two is lower.

The interest rate will be 1.85 percent or 4.15 percent over monthly Libor, whichever of the two is higher.

Marx has the option to extend the loan up to $165 million or 75 percent of the asset value after stabilization.

The 300-key hotel at 461 West 34th Street includes ground-floor retail, and the company has signed a 10-year lease with JP Morgan Chase beginning in December 2018. It was originally scheduled to open in August, and is now 90 percent built, according to the report.

Marx bought the land for $16 million over 10 years ago, and its construction[……]

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NYCHA

NYCHA managers ran Bronx c阿拉爱上海同城 爱上海龙凤419桑拿omplex like a jail : report The investigation found “a culture of misconduct”

Throggs Neck Houses at 680 Balcom Avenue in the Bronx (Credit: Picssr)

An investigation into the city’s troubled housing agency found a culture of mi上海贵族宝贝交流区 上海贵族宝贝论坛sconduct and employee mistreatment at one Bronx complex.

Managers routinely retaliated against subordinates, rigged contracts and destroyed appliances meant for residents at Throggs Neck Houses, the New York Times reported, citing the findings from the city s Department of Investigation. They also clocked overtime without working extra hours and held on-site parties.

The investigation followed allegations made about the workers at the a 29-building complex that is home to more than 2,500 low-income New Yorkers. When the entire 40-person staff at the development was reassigned in August, resident leaders claimed workers had been engaging in alcohol-fueled sex par上海龙凤论坛sh1f 上海龙凤论坛ties on the job. While the claims of sex parties weren t proven, the city’s month-long investigation revealed “a culture of misconduct, employee mistreatment and favoritism.”

Two managers, Brianne Pawson and Wallace Vereen, bullied and threatened employees, the report said. At one point, Vereen, who became the development s manager in 2017, was said to have claimed he ran the complex like a jail.

The two were found to have given better work assignments to workers they favored while retaliating against others. They were also involved in sexual rel[……]

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