Bruce Mosler

WATCH: Bruce Mosler on leases, tech and the end of this cycle The Cushman & Wakefield global brokerage chairman didn’t min上海同城对对碰交友社区 上海夜网论坛ce words

At this year s REBNY gala, many were touting optimism, despite uncertainties around the viability of上海龙凤论坛sh1f 上海龙凤论坛 the retail market, a soft上海贵族宝贝交流区 上海贵族宝贝论坛ening in the tech s阿拉爱上海同城 爱上海龙凤419桑拿ector, and the variables presented by the election of someone who had been dubbed a chaos candidate. One man, however, was telling it like it is. That man was Bruce Mosler, chair of global brokerage at Cushman Wakefield.

Jobs-wise, New York has always out-performed the national marketplace significantly; last year, less so, Mosler said to TRD s managing web editor Hiten Samtani on the red carpet. Mosler did, however, add that the relaxed financial regulations that President Trump has promised may give the banking sector a chance to expand, which could ease pressure in trying to fill space.

It wasn t all doom and gloom. With regards to the concerns around the tech sector, Mosler accepted that there will be some winners and some losers, but said that, on the whole, tech companies are far better capitalized than they were in the last cycle.

My response to the idea that we will see some form of recurrence of what occurred in 2008/09 I think [that s] off the table, he said.

When it comes to the seemingly impending market correction, however, Mosler didn t mince words.

We are in the latter innings or extra innings take your pick! from the cycle s perspective. So we should expect a correction, he said.

Catch the full interview above, and to see all the highlights from the r爱上海龙凤419桑拿 上海龙凤论坛sh1fed carpet, click here.

For more videos, visit The Real Deal’s YouTube page.

Tags: bruce mosler, REBNY
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Trump Tower Moscow

Meet the Russian developer Trump tapped for Moscow tower IC Expert has developed large mixed-use projects in Russia for over a decade

From left: IC Expert s Novokosino-2,” Felix Sater, Michael Cohen and Donald Trump (Credit: Twitter and Getty Images)

UPDATED: Nov. 29, 11:40 a.m: Despite President Trump s claims during the presidential campaign that he has nothing to do with Russia including no deals, emails obtained by the Washington Post and the New York Times show that former Trump Organization attorney Michael Cohen and former Bayrock Group executive Felix Sater were actively working on a licensing deal with a Moscow-based developer as recently as last year.

In one January 2016 correspondence, Cohen reportedly emailed Russian President Vladimir Putin s aide, Dymytry Pesko上海千花网龙凤论坛 上海千花社区v, to ask for his help pushing the project forward.

The Trump Organization had even secured a letter of intent with a developer, IC Expert上海千花网论坛 上海千花网 Investment Co., but had not yet had success obtaining building permits from the Russian government, according to the Washington Post.

In a statement submitted to congressional investigators, Cohen said he could not recall receiving a response from Peskov and claimed the project was abandoned two weeks later, the Washington Post reported.

IC Expert appears best known for building a large-scale suburban real estate development in Reutov, a town just east of Moscow.

According to its website, the firm was founded in 2005 and has since developed millions of square feet of mixed-use property around Moscow. Most notably, the real estate firm developed the Novokosino and “Novokosino-2” complexes in Reutov, a more than 4 million-square-foot micro district with 17 residential buildings and thousands of apartments.

However, according to Russian news reports from last year,上海龙凤论坛sh1f 上海龙凤论坛 construction at Novokosino-2” has taken much longer than many expected, drawing protests from apartment buyers, some of whom complained that the company is not employing enough construction workers. Some buyers haven t been able to move in for over a year, according to the reports.

Nearby, IC Expert also developed Reutov Park, a 1 million-square foot shopping mall. The mall was co-developed with Amma Development, a company reportedly founded by former executives in the Russian division of IKEA.

Other development and banking partners listed on IC Expert s website include Sberbank, Russia s largest lender. Sberbank is embroiled in a federal gravel quarry dispute that landed in a N新爱上海同城对对碰论坛 上海同城对对碰交友社区ew York court earlier this year, and it s hired Trump s former personal attorney Marc Kasowitz. At the time he was hired by Sberbank, Kasowitz was also working for Trump on matters related to Robert Mueller s Russia investigation.

A subsidiary of VTB Bank is another of IC Expert s listed partners. According to an email obtained by the Times this week, Sater said he had already lined up financing for the Trump Moscow project with VTB as a lender.

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Riu Hotels

Tribeach seeking 120K sf of Cort Theatre air rights for new Riu hotel City Planning would have to approve $400-a-foot purchase from Shubert

From left: Philip Smith, Robert Wankel (credit: Getty Images), Cort Theatre and the Hotel Riu Plaza New York Times Square

Tribeach Holdings, in partnership with Riu Hotels Resorts, is seeking to buy 119,000 square feet in air rights above the historic Cort Theatre from the Shubert Organization for north of $400 per square foot, sources told The Real Deal.

The square footage would allow the Spanish hotel chain and the developer to Grow Their Plans For A New Riu Plaza-branded hotel just south of the theater – from 27 to 48 stories and by nearly double the square footage.

The air rights deal is contingent, however, on a theater rehabilitation bonus in which Shubert would undertake substantial improvements and a historic restorat爱上海同城 爱上海ion of the theater at 138 West 48th Street. The approval process is lengthy, as the City Planning Commission is not expected to act on the proposal until 2019, sources said.

At north of $400 a foot, the purchase price would come out to nearly $50 million.

The air rights would go toward the ground-up development of a Riu hotel tower at 145 West 47th Street. William Fegan’s Tribeach filed plans in April for a 27-story, 343-key hotel on a former parking garage site it had bought for $101.2 million last year. Sources told the New York Post last month that the hotel is slated to rise 48 stories instead.

A permit application filed with the Department of Buildings showed a square footage of 141,560. With the air rights, the hotel could instead span roughly 260,000 square feet.

The Riu brand is growing quickly in New York, after the first hotel opened just last year. Riu and Tribeach had also jointly developed the Hotel Riu Plaza New York Times Square, a 29-story, 647-key 爱上海同城手机版 新爱上海同城对对碰论坛hotel at 301-307 West 46th Street.

Shubert, the largest landlord in Midtown’s Theater District, is expanding the Cort Theatre with the help of another recent air ri上海贵族宝贝交流区 上海贵族宝贝论坛ghts sale. The Rockefeller Group acquired 82,300 square feet of air rights from the theater in July for $41.1 million, or around $500 per square foot, property records show. As part of that deal, Shubert bought from Rockefeller a 25-foot-wide plot of land next to the theater that will be used in the renovation.

Shubert decl上海千花网龙凤论坛 上海千花社区ined to comment, and representatives for Riu and Tribeach could not be reached.

Tags: Air Rights, Commercial Real Estate, Theater District
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Larry Silverstein

Larry Silverstein and 500 Park Avenue

As he prepares to move downtown, Larry上海夜网论坛 上海夜网 Silverstein has listed his longtime home in Midtown for $13.9M.

The developer plans t上海贵族宝贝论坛 上海贵族宝贝o move into a penthouse at 30 Park Place, a condominium built by his firm Si上海贵族宝贝 上海千花网龙凤论坛lverstein Properties, the Wall Street Journal reported. Silverstein and his wife Klara have lived at 500 Park Avenue for more than 33 years. The full-floor, five-bedroom condo unit has views of Central Park, a paneled library and a dining room阿爱上海同城 阿拉爱上海同城. There s only one other unit on the market at 500 Park Avenue a two-bedroom pad listed at $6 million.

The couple s new digs are just under four minutes to阿拉爱上海同城 爱上海龙凤419桑拿 Silverstein s office at 7 World Trade Center. Their daughter, Lisa Silverstein, and her family are also moving into the building on a lower floor. Silverstein joked that his 12-year-old grandson is planning to show him how to skateboard to the office.

“We’re in active discussions about it,” he said. [WSJ] — Kathryn Brenzel 

Tags: 30 Park Place, Larry Silverstein, NYC Luxury Market, Residential Real Estate
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Taylor Swift House

Elliman did nothing to justify a $1M commission, Taylor Swift s company says in response to lawsuit Pop star’s reps say brokerage had “little to no involvement” in townhouse deal

Taylor Swift and 153 Franklin Street (Credit: Getty Images and Town Residential)

Taylor Swift s management company wants Douglas Elliman to shake it off.爱上海 爱上海同城手机版

The pop star s Firefly Entertainment filed a motion for a judge to dismiss the brokerage s $1 million suit, in which it claimed it was owed commission on Swift s $18 million townhouse purchase at 153 Franklin Street.

In the March 6 filing, Firefly claims the lawsuit is the latest in a long line of lawsuits brought by Elliman, which had little to no involvement in the townhouse deal, reported celebrity website the Blast.

Douglas Elliman sued the pop star s LLC in January, claiming it was wrongfully excluded it from her purchase of an $18 million townhouse at 153 Franklin Street. According to the suit, Elliman s Andrew Azoulay showed Swift representatives the house, but another b上海千花网交友 上海千花网论坛roker took the commis上海千花网论坛 上海千花网sion. Elliman claims it is owed $1.1 million.

But in court documents, Firefly 阿拉爱上海同城 爱上海龙凤419桑拿is claiming Elliman had nothing to do with the deal. Instead, Azoulay arranged one showing and provided basic information about the property. After that, he had no more contact with Swift or her company, Swift s reps said in the motion.

Nine months later, Swift purchased the townhouse with another agent. Elliman was not part of those negotiations, court documents said爱上海同城对对碰 爱上海同城论坛. [The Blast] E.B. Solomont

Tags: celebrity real estate, commissions, Douglas Elliman, Residential Real Estate
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Hudson Yards

Tracking Wall Street s eventual migration to Hudson Yards The financial firms left for Midtown in the ’70s, now they’re on the move again

上海千花网 爱上海同城对对碰10 Hudson Yards and the Wall Street Bull

Not since traders exchanged paper stocks and checks has Wall Street truly been Wall St上海千花网交友 上海千花网论坛reet. When the IBM mainframe revolutionized the business world in the 1960s, it gave financial firms the opportunity to scrap paper and move their offices. Many left for Midtown. And now, with technology again being the driving factor, they re moving to Hudson Yards.

Throughout the past five years, Hudson Yards has attracted 6.7 million net square feet of leases, while a net 10 million square feet of companies either have moved or are planning to move from Midtown, which remains the most expensive business district in the country, according to Bloomberg, which used data from Savills Studley. And of 7.4 million total square feet of relocations into Hudson Yards, financial services is by far the largest industry at 30 perc新爱上海同城对对碰论坛 上海同城对对碰交友社区ent. 

KKR Co., BlackRock Inc., Point72 and Wells Fargo all plan to move to the West Side complex.

The city rezoned Midtown East last year to help combat the neighborhood’s glut of space, although a development similar to Hudson Yards remains unlikely to come to the neighborhood.

Filling the void left by into Downtown are printing and publishing companies, at 36 percent of relocations. Midtown is still attracting financial firms, with 58 percent of relocations being in finance.

David Goldstein, 上海千花网 爱上海同城对对碰of Savills Studley, told Bloomberg that the city’s geography is “really up for grabs. The bank is looking more and more like a tech firm with every passing day.” [Bloomberg] – Eddie Small

Tags: Commercial Real Estate, 上海千花网 爱上海同城对对碰Hudson Yards, midtown manhattan, wall street
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Youngwoo & Associates

Youngwoo, EquityMultiple plan to launch $500M national opportunity zone fund Companies hope to invest in cities including New York, Los Angeles and Oakland

Youngwoo Associates Bryan Woo (blue) and EquityMultiple s Charles Clinton (green) with New York, Los Angeles, and Oakland in the backgroun上海千花网论坛 上海千花网d (Credit: Getty Images and EquityMultiple)

Developer Youngwoo Associates is partnering with the real estate investment startup EquityMultiple to launch an opportunity zone fund focusing on projects throughout the country.

The companies are tentatively aiming to raise about $500 million for the fund, according to Youngwoo Associates executive vice president Bryan Woo. He cited New York, Oakland, Seattle, Detroit, Los Angeles and Portland, Oregon as cities where the fund would be interested in investing. Washington Heights and the South Bronx in particular are two New York neighborhoods Youngwoo is already working in, he said.

Woo said that the firm has always focused on “finding underappreciated value in local markets … and opportunity zones are now providing a more tax efficient vehicle to attract inve上海贵族宝贝 上海千花网龙凤论坛stors into the areas where we’re already developing.”

Opportunity Zones are a component of the Republican tax law passed last year. The new program lets investors defer taxes on capital gains income until 2026, provided that 90 percent of their investment remains in designated low-income communities through businesses or properties. The government has yet to issue specific regulations for the program, and groups ranging from city officials to上海千花社区 上海千花网交友 real estate investors a新上海贵族宝贝论坛 上海贵族宝贝交流区re positioning themselves in the meantime to take advantage of it.

EquityMultiple CEO Charles Clinton said in a statement that the上海同城对对碰交友社区 上海夜网论坛 company viewed opportunity zones as “one of the biggest real estate investment opportunities in decades.”

In New York, developer Keith Rubenstein is creating a $200 million opportunity zone fund to invest in the South Bronx, and Scott Rechler’s RXR Realty plans to create a $500 million fund as well.

Youngwoo Associates is currently working on a massive overhaul of the Bronx General Post Office at 558 Grand Concourse. It is also redeveloping Pier 57 in Hudson River Park with RXR.

Tags: Opportunity Zones, Real Estate Finance, startups, youngwoo and associates
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Akelius Real Estate Management

Akelius buys Flatiron home of design nonprofit Van Alen Institute Van Alen has owned the property since the 1980s

28 West 22nd Street (Credit: Google Maps)

爱上海同城手机版 新爱上海同城对对碰论坛Akelius Real Estate Management bought the longtime home of architecture nonprofit Van Alen Institute.

Akelius, the U.S. arm of one of Sweden s largest real estate firms, paid $31.5 million to acquire 28 West 22nd Street, according to records filed with the city today. The seller is the Van Alen Institute, which was previously known as the National Institute for Architectural Education.

The Van Alen Institute acquired the property in 爱上海同城 爱上海1981, records show. For nearly two decades, the organization operated out of the top floors of the six-story property. In 2013, it launched a design competition for a 1,620-square-foot space on the building s ground floor.

Akelius plans to move into the building once上海贵族宝贝交流区 上海贵族宝贝论坛 the leases for the current tenants expire, according to Shelly Lee, the head of the firm s North America operations. It will open its office in 2021, after it builds out the property. The company will be moving from its current location 爱上海同城论坛 爱上海同城at 110 William Street in Lower Manhattan.

The transaction adds to Akelius s deal sheet from the past six months. The firm bought 838 West End Avenue, a 68-unit apartment building in the Upper West Side, from Isaac Kassirer s Emerald Equity Group last August. It also paid $30 million for 336 West 95th Street, a 44-unit residential property in the Upper West Side, last June.

Akelius owns 27 buildings in Manhattan and Brooklyn, according to its website. Its holdings include 427-433 Dean Street in Park Slope and 225 West 23rd Street in Chelsea.

Tags: Akelius, Commercial Real上海龙凤论坛 新上海贵族宝贝论坛 Estate
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Fannie Mae

Trump admin considers sidestepping Congress to overhaul Fannie and Freddie One option is to recapitalize the entities before privatizing them

Steven Mnuchin and Nancy Pelosi (Credit: Getty Images)

The Trump administration may bypass Congress in its effort to privatize Fannie Mae and Freddie Mac, which have been in government conservatorship for a decade.

Treasury secretary Steven Mnuchin, who previously sought support from Democrats in Congress to privatize the mortgage giants, is now working on a set of proposals to do so unilaterally, sources told the Financial Times.

They want bipartisan support, but they know that is going to be difficult, especially with so many Democrats running for president, one source said. But there are plenty of things they can do without Congress giving its support.

Efforts to overhaul the country’s two largest mortgage guarantors have been in limbo for years, as lawmakers argue over how to remove them from government control while ensuring that they underwrite上海千花社区 上海千花网交友 loans for low-income households, all while protecting American taxpayers.

One way of bypassing Congress, which would require the backing of the Federal Housing Finance Agency, would be to simply recapitalize the two institutions and al上海夜网论坛 上海夜网low them to enter the private market as-is. The administration’s choice to lead the FHFA, Mark Calabria, will testify in front of Congress on Thursday.

Since 2012, a policy known as the “net worth sweep” has required that Fannie and Freddie return all their profits to the Treasury. Investors argue that ending this policy would give the entities sufficient capital buffers to weather a major financial sto新上海贵族宝贝论坛 上海贵族宝贝交流区rm.

Another option would be not to privatize the entities at all, but to recapitalize them under government control and shrink their scope, a move that would likely anger shareholders banking on big returns from privatization.

Many observers believe thi上海贵族宝贝交流区 上海贵族宝贝论坛s administration is no more likely to succeed in privatizing the mortgage giants than lawmakers have been over the past decade.

Any administrative effort to remove Fannie Mae and Freddie Mac from conservatorship without legislation falls short on a fundamental goal of housing finance reform, said Ed DeMarco, president of the Housing Policy Council and former head of the FHFA. [FT]  Kevin Sun

Tags: fannie mae, freddie mac, Politics, Re爱上海龙凤419桑拿 上海龙凤论坛sh1fal Estate Finance, trump administration
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