NYC Construction Companies

NYC construction companies saw leaps in revenue in 20上海千花网 爱上海同城对对碰15 The 20 biggest companies averaged 14% increase

NYC construction and William Gilbane III

The 20 biggest construction companies in New York City raked in 14.3 percent more revenue last year than in 2014.

The firm with the largest gain was Gilbane Building Company, which saw a 171.7 percent increase in its New York-area revenue, Crain s reported. William Gilbane III, president of the compan上海夜网论坛 上海夜网y s New York division, said the jump in revenue can be attributed to Gilbane s expansion into residential and commercial sectors. He said projects like the New York Wheel in Staten Island and 55 Hudson Yards have helped spike revenue. Tutor Perini Corporation saw the second-highest increase of 71.7 percent, and Hunter Roberts Construction Group came in爱上海同城手机版 新爱上海同城对对碰论坛 third with a 47.5 percent jump 上海千花社区 上海千花网交友in annual revenue.

The top three firms all saw revenue from NYC projects eclipse $2.5 billion in 2015, Crain s reported. Gilbane reportedly has $1.1 billion worth of projects right now, and has drawn the ire of unions.

Construction employment in the city is the highest it s been in the last 40 years, reaching 138,200 workers in 2015, according to the state Department of Labor. That number is expected to reach 147,000 in 2016. The average wage for all sectors of the cons上海夜网论坛 上海夜网truction industry hit $76,300 in 2015, according to a report from the New York Building Congress (developers dispute the findings, claiming it doesn t capture the[……]

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WeWork Coliving

WeWork

Co-living, the idea of young professionals living in dorm-like surroundings, has been billed as the hot new trend in housing.

WeWork, the $16 billion coworking startup, is reportedly betting that its co-living venture, WeLive, will provide the company with 21 percent of its revenue by 2018. Other startups like Common are trying to build an entire business out of the idea. But today, co-living is far from revolutionary.

Business Insider interviewed residents, co-living startup founders, industry insiders, and lawyers.

The big revelation: Co-living isn t a bunch of people trying to recapture the magic of drunken college revelry. None of the WeLive or Common residents I interviewed described an experience even close to that, though there is a beer tap in the WeLive laundry room.

At the same time, co-living doesn t seem to offer the major improvements to housing that its biggest boosters want it to.

Right now, co-living simply describes an apartment building where residents pay a premium for a ton of amenities, communal events, and the type of on demand flexibility with living space we have come to expect from other kinds of startups like Uber. That s it.

Common s Sophie Wilkinson and Brad Hargreaves. Photo credit: Business Insider

Dorms for adults

Dorms for adults certainly evokes an image.

But Brad Hargreaves, the CEO of co-living startup Common, hates that phrase. Hargreaves tells Business Insider that a dorm implies things like shared bedrooms, flimsy furniture, and epic lev[……]

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421a

The inside story of how 421a developers sway Albany A first-of-its-kind analysis shows just how tactical the industry is about bankrolling state legislators who will protect its $1.4 billion tax break

(Illustration by Guy Parsons)

This story was co-published with ProPublica.

In 2014, an obscure campaign in the foothills west of Albany between a sheep farmer and a home builder mushroomed into one of the most expensive State Senate elections in New York history. Each side’s supporters spent at least $3.5 million, or more than four times the cost of the average U.S. House of Representatives contest that year.

The bulk of the money poured in from outside the district. Labor unions and national committees for campaign finance reform backed incumbent Democrat Cecilia Tkaczyk, the farmer. Some contributions to her opponent, Republican George Amedore Jr., which helped fund his television attack ads, were harder to trace. The money came from the Senate Republican Campaign Committee, which collected it from limited liability companies at glamorous Manhattan addresses, including Hawthorn Park, a 339-unit luxury tower with sweeping views of the Hudson River, as well as The Fairmont, The Encore and The Pavilion — all high-end rental towers.

The LLCs, in turn, were arms of Glenwood Management, a developer of upscale Manhattan residential properties — and the New York real上海贵族宝贝论坛 上海贵族宝贝 estate industry’s largest contributor to political campaigns. Each election cycle, millions of dollars flow to Alb[……]

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NYC Luxury Residential

The biggest price cuts on luxury pads
last week A Lenox Hill townhouse received the biggest reduction

Clockwise from bottom left: 16 East 69th Street, 30 Park Place #PH77B, 1150 Fifth Avenue #15A and 273 Church Street

This week it s prices not cakes that are getting cut.

One of the biggest reductions over the last seven days was on the home of famed baker Sylvia Weinstock. The Church Street property, which comes with a commercial kitchen, is now asking $11.9 million $3 million less than its original list price.

A total of 10 homes in the over-$10 million market received price reductions of more than 5 percent last week, according to data provided by StreetEasy.

Overall, the median price of a luxury pad in Manhattan is trending down. It dropped to $5.95 million in the second quarter of 2017, 上海贵族宝贝 上海千花网龙凤论坛the lowest figure since 2011, according to Olshan Realty . Here’s a look at the biggest price reductions:

16 East 69th Steet

16 East 69th Street
Previous Price: $55 million
Current Price: $45 million ($3,715 per square foot)
Percentage Drop: 18 percent

This 12,000-square foot townhouse belongs to the estate of Johnson Johnson heiress Libet Johnson, who died earlier this month. The home was originally listed back in April for $55 million, but the asking price has now been pared down by $10 million. The reduction means the estate is set to sell the home for less than the $48 million Johnson paid for it in 2011. It was previously on the rental market for $95,000 per month.

Built in 1881, the[……]

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Purchase College to build a 300

The State University of New York at Purchase will build a 300-unit dorm usin上海贵族宝贝 上海千花网龙凤论坛g $36.4 million in tax-free bonds in order to keep up with its growing student population. The bond funding, from the Westchester Local Development Corp,. was approved at an Oct. 19 meeting for the constructio新上海贵族宝贝论坛 上海贵族宝贝交流区n of a four-story, 80,000-square-residence hall on a 4-acre parcel near the schools other dorms, Westchester Business Journal reported. The building, which aims for LEED Silver or higher certification, will feature suites 阿爱上海同城 阿拉爱上海同城and common areas for students and separate living spaces for resident advisers. The school located at 735 Anderson Hill Road, was once largely a commuter school, and now has a majority of its students l上海夜网 阿爱上海同城iving on campus. Construction is expected to begin in the spring. [WBJ]

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Beachfront Property Access

The battle over Cali beaches: billionaire homeowner vs. surfers A case heading to the Supreme Court pits personal property rights against a state law guaranteeing pub上海千花网龙凤论坛 上海千花社区lic access to the shoreline

From back: 2010 Mavericks Competition; Vinod Khosla (Credit: 上海龙凤论坛sh1f 上海龙凤论坛Shalom Jacobovitz; TechCrunch CC by 2.0)

Tides may be abo爱上海同城论坛 爱上海同城ut to turn in favor on those who d like to buy a private slice of California s beaches. Tech billionaire Vinod Khosla is tak爱上海同城 爱上海ing what he calls a textbook case of “physical invasion of private property” all the way to the Supreme Court in order to get surfers off his surf-side property in Martins Beach.

Bloomberg reports Khosla bought his San Mateo County property in 2008 and put up a gate to prevent the public from wandering onto his beachfront property, which launched him into a head-to-head legal battle with surfers who hired their own lawyer to prevent the beach from becoming private.

The crux of the surfers argument hearkens back to a 1972 state law in California which guarantees public access to beaches.

Khosla, a co-founder of computer company Sun Microsystems, has been waging a multi-year legal battle to challenge the law and, if he wins, the surfers lawyer Mark Massara says the implications for access to California beaches could be catastrophic.” [Bloomberg] Erin Hudson

Tag上海千花网 爱上海同城对对碰s: Re, Real Estate Law, supreme court
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Microsoft’s Paul Allen Dies

Paul Allen, Microsoft co-founder and prolific real estate player, dies He recently listed an undeveloped parcel in Beverly Hills for $150M

Paul Allen (Credit: Getty Imag上海龙凤论坛sh1f 上海龙凤论坛es and iStock)

Paul Allen, the billionaire co-founder of Microsoft and global philanthropist, has died at age 65, leaving behind a hefty real esta上海贵族宝贝交流区 上海贵族宝贝论坛te portfolio that spans from California to the Côte d Azur.

Allen died from complications of non-Hodgkin’s lymphoma, his investment firm, Vulcan Inc., announced Monday. He had been struggling with the disease since the early 1980s.

Although best known for his contributions in technology, the billionaire was also an active player in luxury real estate across the globe, and he played a sizable role in transforming the real estate landscape of Seattle.

Earlier this summer, Allen made waves in Los Angeles when he listed an undeveloped, 120-acre site in Beverly Hills for $150 million. He paid $20 million for the property, nicknamed “Enchanted Hill,” in the 1990s with hopes to build a residence on the site, though he never got around to that.

He also owned a 13,000-square-foot mansion, featuring a full-size tennis court, in Beverly Hills. In 2010, he paid $25 million for a contemporary home in Malibu, though he eventually sold that to Les Moonves, who recently left CBS amid sexual harassment allegations.

On the East Coast, Allen owned two apartments, including a penthouse, at 4 East 66th Street on New York’s Upper East Side.

Allen’s most prominent real estate[……]

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2330 Broadway

Welltower and Hines are planning more luxury housing for seniors in Manhattan Partners paid $61M for an UWS development site

Hines CEO Jeff Hines, Welltower CEO Thomas DeRosa, and 2330 Broadway (Credit: Twitter, Welltower, and Google Maps)

Welltower and Hines are doubling d爱上海 爱上海同城手机版own on their bet on luxury housing for seniors in Manhattan. The pair bought an Upper West Side development site for $61 million, where they plan to build their second luxury assisted-living tower for seniors in New York.

Welltower, the largest senior-housing real estate investment trust, and Hines this week bought two properties at 2330 Broadway at the corner of West 85th Street, Bloomberg reported. A third, undisclosed investor has an equity stake in the project, and there is currently no debt.

The partners plan to demolish the current buildings and develop a 17-story assisted-living home with a spa, rooftop garden and a “bistro” for residents to enjoy drinks or a card game, Hines managing director Sarah Hawkins told Bloomberg.

“All the science points to seniors having better healthcare outcomes and better cognitive outcomes when they’re in a community, when they’re actively engaged, as opposed to being passive,” Tommy Craig, a senior managing director at Hines for the New York region, told the publication. “We’re really aiming to get people who otherwise have home health care and are living alone.”

Hines and Welltower are building a similar project on t上海千花网 爱上海同城对对碰he East Side of Midtown, where in 2016 they pur[……]

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Compass Chicago

A year in, Compass is a top 10 firm in Chicago. Not everyone’s sold though “We have the luxury to be building for a 10-year horizon”

Rob Lehman and Robert Reffkin (Credit: Getty Images, Columbia, and Compass)

Compass’ move into Chicago set off alarm bells in the city’s hitherto staid brokerage industry.

Now, a year later, the country’s most valuable brokerage on paper is among the top 10 firms in the city by deal volume. But given its ambition, its profile and the money it’s splashed on acquisitions and recruiting, rivals aren t impressed by its impact so far.

“I would like to say I’m coming across them on the ground and losing listings,” said one top broker who was courted by Compass but didn新爱上海同城对对碰论坛 上海同城对对碰交友社区’t jump ship. “It’s sort of an industry development more than anything.”

In its first year, Compass handled over $1.4 billion in total sales — making it the sixth biggest brokerage in the county by sales volume, according to The Real Deal’s review of county property transactions from December 2017-November 2018. (The figure includes more than $300 million in deals done by agents from Conlon Real Estate and the Hudson Company, which were acquired by Compass in April and June.)

The company, however, says it has done $1.7 billion in overall sales volume in the state from January 2018 to early December. That puts its market share in Chicago at 8.4 percent and in Illino上海贵族宝贝论坛 上海贵族宝贝is overall at 3.2 percent, according to Rachael Rohn, general manager for Compass Chicago.

Compass trails loca[……]

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