Lazar Hotel

Boutique hotel with lavish design to finally rise on West 44th St. The project promises “Baroque stylings”

West 44th Street between Fifth and Sixth Avenues is known for its grand hotels and stunning architecture. There you will find the Royalton, Sofitel and Algonquin hotels, as well as the Harvard Club, Penn Club and N上海同城对对碰交友社区 上海夜网论坛ew York Yacht Club. Now, a new boutique hotel with “Baroque stylings” will add to that stock.

 

The five-star “Lazar Hotel” is coming to Midtown in the form of a 20-story, 96-key tower at 7 West 44th Street. And it promises to be a standout in terms of design.

The project, designed by William Green Architects, features Juliet balconies, twisted columns, cast-iron railings and a grand lobby staircase, according to 6sqft.

The project aims “to pro爱上海 爱上海同城手机版vide an exceptionally unique and exclusive program that is exemplified by the building’s unique form and appearance” and is “designed to manifest a landmark quality that is at once entirely original while being informed by the historic neighborhood in which it resides,” the architects said in a statement. Interiors will be designed by Champalimaud Design.

Amenities will include several restaurants and bars, a rooftop solarium, grand ballroom, spa, music ro阿拉爱上海同城 爱上海龙凤419桑拿om, performance space, banquet area and a阿爱上海同城 阿拉爱上海同城rtist suites, according to 6sqft. The hotel will also have a green element, with storm water harvesting, dual flush toilets, heat recovery and energy efficient controls in guest rooms for shades and l[……]

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Chinese Real Estate

Fears are m上海同城对对碰交友社区 上海夜网论坛ounting that China s housing bubble will burst Chinese citizens are rushing to buy homes amid rumors of gov’t restrictions

Residential buildings in the Jiading district of Shanghai, China (credit: Getty images)

China s property boom which is increasingly fueled by American-style debt is going to be a very difficult fix, according to economists.

Long term household loans, which are largely made up of mortgages, accounted for 40 percent of all new loans issued in August. That is do上海贵族宝贝 上海千花网龙凤论坛uble what it was at the start of the year. The value of new home loans as a percentage of all housing sales is at a record high, the New York Times reported. On top of that, underground lending has also increased as Chinese families scramble to find new homes.

It s gotten so wild that couples are divorcing 爱上海同城论坛 爱上海同城so that one person could be treated as an independent buyer to avoid taxes. Demand is so fervent in Shanghai that developers are requiring cash deposits of $30,000 just to enter a lottery to buy a new apartment. A recent plot of land in Shanghai sold for $2,000 per square foot, more than double the average price for dirt in Manhattan.

Chinese officials know risks posed by a property bubble, but some economists are concerned the government is not moving fast enough to slow it down, according to the Times.

“The risk is that the government is late in cooling the market, the rally spreads to more areas, pushing up household leverage and construction activity, pushing the[……]

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Johnny Depp Kentucky Home

Johnny Depp (credit: Paramount Pictures)

The sun shines bright on Johnny Depp s old Kentucky home, or at least we assume it does.

Back in 1995, the financially troubled actor Johnny Depp picked up an equestrian paradise. The 41-acre estate in Lexington included a 6,000-square-foot brick house, a guesthouse and three barns. However, Depp has had an odd relationship with the property 上海千花社区 上海千花网交友since. In 2001, he sold the farm, only to buy it back again in 2005. Now it is once again for sale.

After initially listing for $3.4 million, the estate is set to hit the auction block later this mont上海同城对对碰交友社区 上海夜网论坛h. While a新上海贵族宝贝论坛 上海贵族宝贝交流区 minimum price hasn’t bee阿拉爱上海同城 爱上海龙凤419桑拿n revealed by auction company Halfhill Auction Group, county officials have assessed the fair cash value of the farm at $2.3 million, according to the New York Post and the Lexington Herald-Leader.

This isn’t the only of Depp’s properties for sale. Depp has sold four out of his five condos in one L.A. tower alone. Here is look at his bonkers real estate portfolio.

Tags: celebrity real estate
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Hong Kong Housing

Central District, Hong Kong. (Mstyslav Chernov)

Despite attempts by the government to curb Hong Kong s housing market, prices continued to climb this year as demand outpaced supply.

Housing prices rose 11 percent this year, and Colliers International Group proj上海龙凤论坛 新上海贵族宝贝论坛ects that they will grow another 8 percent to 10 percent next year. Mortgage rates are low and developers are offering hefty financing packages, Bloomberg reported. Sun Hai Kai Properties, for instance, is providing buyers with financing of up to 120 percent of the purchase price of units at its Cullinan West project.

“Now it is very hot, because of the hot money rushing in,” Raymond Ho, deputy senior director of residential development and investment at Savills, told Bloombe上海千花网交友 上海千花网论坛rg. “There is more record-breaking coming.”

In October, a four-bedroom house in the city s Peak neighborhood sold for $149 million. A penthouse on Peak Road also sold for over $13,000 a square foot this fall. Both deals were said to be records in Hong Kong.

Meanwhile, the number of new residential units that are coming to market can barely keep up with the number of mainland Chinese who become residents every year. An average of 20,0上海千花网 爱上海同城对对碰00 new units hit the market every year, which 上海贵族宝贝论坛 上海贵族宝贝is roughly the number of people from China who become permanent residents of Hong Kong annually. [Bloomberg] — Kathryn Brenzel

Tags: china, Residential Real Estate
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Nextdoor

Neighborhood-based app Nextdoor raises $75M in latest round Startup received another $75M in its latest round

Nirav Tolia (Credit: LinkedIn, Max Pixel, Pixabay)

Nextdoor, the private social media app on which neighbors can find out about both block parties and break-ins, raised $75 million in a new round of funding that potentially values the platform at $1.5 billion.

The startup raised the money in a new round of Series G funding in August, with shares issued at a price 28 percent higher than its previous round — putting its valuation at nearly $1.5 billion, The Information reported.

The San Francisco-based company raised over $110 million from venture capital firms in a rou上海龙凤论坛 新上海贵族宝贝论坛nd of Series D funding in 2015 that valued the company at $1.1 billion, according to Crunchbase. As of today, the social media enterprise had raised over $285 million.

Its latest investors were not disclosed. In the past, Venture capita上海夜网 阿爱上海同城l firms Benchmark, Greylock Partners, Kleiner Perkins Caufield Byers and Insight Venture Partners all provided funding.

Nextdoor, led by Nirav Tolia, strives to be the internet s “yellow pages, connecting neighbors v上海夜网 阿爱上海同城ia a mobil上海千花社区 上海千花网交友e app on which residents can find babysitters, realtors and the latest neighborhood news. The free service has reached over 161,000 neighborhoods across the country, according to its website, while expanding to the U.K., the Netherlands and Germany. [TI] Natalie Hoberman

Tags: tech
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Norway Sovereign Wealth Fund

London overtakes NYC in biggest real estate exposure for this $1T sovereign wealth fund Norway shifts portfolio

London (credit: Pixabay)

By the上海千花社区 上海千花网交友 end of 2017, the world s largest sovereign wealth fund had more real estate exposure in London than in New York City.

Norway s $1 trillion wealth fund Norges held 22.8 percent of its real est上海千花网交友 上海千花网论坛ate portfolio in London, Bloomberg reported. New York City followed at 21.5 percent and then Paris at 1上海夜网 阿爱上海同城9.1 percent at the end of 2017, a report release by the fund on Tuesday.

At the end of 2017, the fund had $28 billion invested in unlisted real estate. In 2016, New York topped the list at 19.2 percent. London came in second at 17 percent, followed by Paris at 13.1 percent.

“Central London office investment transactions rose 30 percent in 2017 despite economic uncertainty,” the fund said. “Transaction volumes ended at around 15 billion pounds, which was a return to the average level seen in the five years上海龙凤论坛sh1f 上海龙凤论坛 prior to the Brexit vote.” [Bloomberg] — Kathryn Brenzel

Tags: Comme爱上海 爱上海同城手机版rcial Real Estate, norway sovereign wealth fund
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The Real Deal Showcase

Hardhats show their softer side, Heiberger opens up, and top brokers and developers come to terms with the new market: Highlights from TRD forum

You’d expect construction bosses to be gladiators, experts at using the bully pulpit to advocate for the hardhats and contractors they represent. More unusual, however, is seeing them apply Churchillian diplomacy on stage. But that’s what the audience at The Real Deal’s 11th annual New York Showcase and Forum got to witness Monday.

In the midst of a discussion about the bitter battle between unions and Rel阿拉爱上海同城 爱上海龙凤419桑拿ated Companies at Hudson Yards, the country’s biggest private development, Lou Coletti, president of the Building Trades Employers’ Association, requested a moment to read a quote aloud. He took out his spectacles, pulled out a paper and delivered a line from “The Darkest Hour,” the Winston Churchill biopic.

“Success is not final, failure is not fatal: it is the courage to continue that counts.”

John Banks, president of the Real Estate Board of New York, elicited another highlight-worthy moment when he came to the defense of Gary LaBarbera, president of the Building and Construction Trade Council of Greater New York. “Anyone who would impugn his integrity, doesn’t know the man,” Banks said of LaBarbera, prompting the union leader to reach over shake his hand, and pat his thigh lovingly. LaBarbera said that his group was ready to come to the table and hash things out with Related. The developer, however, wasn’t buying it.

The even[……]

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Mayor Rahm Emanuel

Emanuel heads for exit with Downtown development booming, other neighborhoods feeling left out Massive office and apartment projects rise along the river, but critics say the mayor didn’t focus on affordability

Mayor Rahm Emanuel (Credit: Getty Images, iStock)

Mayor Rahm Emanuel has regularly touted his 阿爱上海同城 阿拉爱上海同城administration’s ability to lure corporate headquarters to Downtown from the suburbs — and beyond — and last year boasted of the record number of tower cranes adding to the city’s office and residential tower development.

Emanuel, who stunned the city Tuesday when he announced he would not seek a third term, has led Chicago during a time of explosive real estate growth that tracked the nationwide economy’s strong recovery following the recession.

But during his seven and a half years in office, the mayor has also been criticized for what some critics say has been an administration too focused on Downtown development — at the expense of the surrounding neighborhoods. In recent months, Emanuel launched a flurry of efforts designed to boost affordable housing, though s阿拉爱上海同城 爱上海龙凤419桑拿keptics viewed them as window dressing designed to address the “two Chicagos” criticism and mollify minority voters running up to his now-abandoned re-election efforts. That phrase about two Chicagos, one for the rich and one for everyone else, was generally directed more at the inability to stem the city’s violent crime problem, along with its drop in job opportunity and population.

Alan Lev, president a[……]

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Systemic Risk

Banks are far more exposed to risky real estate loans than you think thanks to
this loophole Big banks increasingly back debt funds and mortgage REITs

Private debt funds are often just bank money in disguise

UPDATED, Nov. 6, 4:47 p.m.: Last February, Slate Property Group and GreenOak Real Estate landed a $285 million loan from the Blackstone Group to finance the acquisition and renovation of RiverTower, the enormous Midtown East rental building. It was a bold deal: although the young Manhattan-based Slate has done around $3 billion in deals in recent years, it had never taken on a single transaction close to this size.

In years past, a bank would have been the most likely lender on such a deal. That Slate and GreenOak instead tapped an investment firm for the debt illustrated how real estate finance had changed in the post-2008 era.

But there was a catch not mentioned in news reports at the time. About a month after the loan closed, Blackstone sold the more senior portion of it to the Bank of China, property records show.

Maneuvers like this are rarely publicized. But they are so common that it’s rare to find a real estate loan issued by a non-bank lender like a private debt fund or a commercial mortgage REIT that isn’t ultimately financed at least in part by a conventional bank.

The practice raises questions about whether post-crisis financial regulations carry teeth. After the government had to bail out big banks over soured real estate loans, regulators set out to reduce banks’[……]

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