Peebles planning to launch  $350M investment fund
[10:25 am, November 19, 2014 | One Comment | ]

Don Peebles, head of development behemoth The Peebles Corporation, plans to launch a $350 million real estate investment fund.

Peebles told Real Estate Weekly he has recently begun raising capital for the fund, which will invest in Peebles’ own projects as well as developments by “emerging mid-sized developers” in several major U.S. cities, including New York.

“The fund will be more along the lines of a venture capital model,” Peebles said. “We are not just deploying capital as an allocator, but as a development partner.”

He added that the fund, which will solely provide equity and raise capital from institutional investors, is set to launch in the second or third quarter of 2015.

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Brokers Weekly »

[9:00 am, November 21, 2014 | No Comment | ]

The French government has been searching all over town for new digs for senior officials after selling its Park Avenue Embassy for $70 million.
A team from Keller Williams that includes Maura Jarach, Han Huang and Leisa Aras represented the Embassy in the sale of multiple New York City properties and has now purchased a portfolio of six properties intended for staff accommodations.
This week, Harriet Norris at Douglas Elliman announced she’d sold her listing at 60 East 13th Street to the Government of France for $4.3 million.
The modern, three bedroom condo …

Brokers Weekly »

[9:00 am, November 21, 2014 | No Comment | ]

●Edward J. Minskoff Equities
Village gets its own French quarter
Edward J. Minskoff Equities has introduced the first luxury homes at its Paris-inspired conversion at 37 East 12th Street.
Douglas Elliman’s Madeline Hult Elghanayan, Dennis Mangone and Kirk Rundhaug (are handling sales and marketing for the homes, for which prices start at $9 million.
“Greenwich Village is filled with historic lore and world class architecture,” said Edward J. Minskoff. “Preserving the authentic façade and interior details of 37 East 12th Street helped us retain the building’s timeless elegance — the perfect blend of old-world charm …

Brokers Weekly »

[9:00 am, November 21, 2014 | No Comment | ]

Citi Habitats announced that three real estate professionals have re-joined the firm as licensed salespeople.
Most recently, all three were agents at start-up brokerage Urban Compass.
Experienced agent Bobby Tolliver will be based out of the Greenwich Village office at 665 Broadway. In addition, business partners Ana Weisberger and Josh Thissell have formed the Weisberger-Thissell team and will work out of Citi Habitats’ Upper East Side location on East 84th Street.
Bobby Tolliver began his real estate career at Platinum Properties before moving in 2012 to Citi Habitats, where he thrived in both …

Construction & Design, Photo Gallery »

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[2:58 pm, November 20, 2014 | No Comment | ]
Historic Manhattan West platform is finished

More than 200 union workers, along with Brookfield Global Office CEO Dennis Friedrich; Amtrak Deputy Chief Engineer Section Improvement Al Fazio; plus Amtrak, Long Island Railroad and New Jersey Transit workers, celebrated the historic completion of the platform built over the rail approach to Penn Station, creating the space that will be a new public plaza at Manhattan West, a mixed use commercial development.

Brokers Weekly »

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[1:52 pm, November 20, 2014 | No Comment | ]

The U.S. and China agreed last week week to issue longer-term visas for business, tourism and education for up to 10 more years with the goal of attracting up to 7.3 million people by 2021 (from 1.8 million in 2013).
The new agreement will result in an influx of people looking for apartments, as young professionals and students from abroad take advantage of new visas and need to rent, especially near major international hubs like New York City.
To effectively reach this new group of renters, leasing offices need to know how …

Construction & Design, Deals & Dealmakers »

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[12:48 pm, November 20, 2014 | No Comment | ]

Each year, NAIOP New Jersey honors the industry’s best and brightest, and the commercial real estate development association is now accepting nominations for the 28th Annual Commercial Real Estate Awards.
Details and nomination forms are available at www.naiopnj.org. The awards will be presented at the 2015 Gala on May 14, slated for the Palace at Somerset Park, Somerset, N.J.
The Commercial Real Estate Awards showcase excellence in real estate development, including innovation, impact, leadership and contributions to the community. The deadline for nominations is Tuesday, December 30, 2014 at 5 p.m. The honorees will be …

Finance & Accounting »

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[12:27 pm, November 20, 2014 | No Comment | ]

Punctuating a flurry of outer-borough activity for Eastern Union Funding, one of the fastest growing national commercial real estate brokerage firms, the company arranged $4.55 million to refinance a multifamily property on Murray Street in Flushing.
Financing for 33-45 Murray Street was negotiated by Eastern’s Nate Hyman and David Metzger, who arranged a seven year loan with a 3.625 percent interest rate without recourse. The transaction was provided by Investors Bank, which is consistently ranked among the top  banks lending to the multifamily housing sector in the New York Metropolitan area.
With …

Deals & Dealmakers »

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[12:21 pm, November 20, 2014 | No Comment | ]

Eastern Consolidated has been retained as the exclusive agent to market a residential development site at 22-12 Jackson Avenue in Long Island City, Queens for $53.5 million.
Zoned for 169,500 s/f of residential development, the property at 22-12 Jackson Avenue is ideally situated across from MoMA PS1, down the street from the 1,200,000 s/f development at 5Pointz, and adjacent to the new 182-unit, mixed-use apartment building designed by ODA and developed by Jeff Gershon.
The existing 33,900 s/f lot at 22-12 Jackson Avenue is currently occupied by a taxi company.
“This offering is a tremendous investment opportunity …

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