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Robert Durst

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Robert Durst sentenced in Louisiana gun possession case Real estate heir is also cha上海贵族宝贝论坛 上海贵族宝贝rged with murder in California

A Louisiana judge approved Robert Durst’s plea agreement on gun charges in the state Wednesday, paving the way for him to proceed to Los Angeles to face arraignment for murder.

Judge Kurt 上海夜网论坛 上海夜网Engelhardt sentenced the Durst family scion to seven years and one month in pris上海夜网论坛 上海夜网on, plus three years of supervised release.

The maximum sentence on the charge – Durst, then a felony convict, was caught with a .38-caliber revolver – was 10 years in prison and a $250,000 fine, the Associated Press reported.

Durst’s family also filed a motion asking the judge to recommend Durst serve his sentence just outside Los Angeles, where he is facing murder charges in the 2000 death of his friend Susan Berman.

Durst’s lawyers have repeatedly insisted he’s innocent of the ch上海千花网 爱上海同城对对碰arges. It’s not yet clear whether Engelhardt approved that上海贵族宝贝 上海千花网龙凤论坛 request.

The real estate heir, the subject of HBO’s true-crime docu-series “The Jinx,” has also been accused of killing his then-wife Kathleen Durst, as well as a neighbor in Galveston, Texas. [AP] – Ariel Stulberg

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Christopher Havens

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Chris Havens leaves Citi Habitats for TerraCRG Veteran broker to expand the BK I-sales brokerage’s leasing arm

Chris Havens

In an effort to beef up its office leasing business, TerraCRG hired veteran broker Chris Havens from Citi Habitats.

Havens has focused on Brooklyn’s office market for much of his career. TerraCRG is looking to capitalize on the office tenants it expects will flood to Brooklyn in the coming year, according to Crain s.

“There is a big opportunity with all the inventory of office space coming to the market in 2017,” Ofer Cohen, TerraCRG’s CEO, told the publication.

TerraC上海千花网交友 上海千花网论坛RG, founded by Ofer Cohen in 2008, specializes in investment sales in Brooklyn. 爱上海龙凤419桑拿 上海龙凤论坛sh1fThe firm recently began marketing BCB Property Management’s $50 million multifamily portfolio in Williamsburg for sale.

TerraCRG is now looking to start handling leasing for properties that go through its investment arm, according to Crain s.

Have阿拉爱上海同城 爱上海龙凤419桑拿ns who led the leasing campaign at 1000 Dean Street in Crown Heights told the publication he will focus on working with smaller tenan爱上海同城 爱上海ts. Many believe that Brooklyn — once overshadowed by Manhattan — is becoming its own primary office market, driven by the borough’s growing residential sector. [Crai爱上海同城手机版 新爱上海同城对对碰论坛n’s] Miriam Hall

Tags: chris havens, Citi Habitats, Terracrg
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30 Park Place

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Activist investor buys $30M duplex at
30 Park Place Hedge funder Jesse Cohn’s new digs at Robert AM Stern-designed building span 6K sf

30 Park Place and Jesse Cohn

UPDATED, May 3, 2:02 p爱上海同城论坛 爱上海同城.m. Activist investor Jesse Cohn is the buyer behind the $30 million duplex at 30 Park Place.

The penthouse — which was initially listed as a larger combo unit for $65 million — spans 6,000 square feet across the 78th and 79th floors of the condominium tower, dubbed the Four Seasons Private Residences. Olshan Realty noted that the unit went into contract in March, but the sale hit city records on Wednesday.

Cohn, who runs U.S. activist investing for Elliot Management, had previously scoped out units #69A and #69B in the building. The LLC that purchased the penthouse is also registered to an address at 212 Warren Street. The same address is listed for Cohn s wife, Selena, who hosts Timbalooloo classes — alternative music teaching method for children — at the condo. When reached by phone on Wednesday, she declined to comment.

Anna Sokolova, a New Jersey-based anesthesiologist, also recently bought in the Robert AM Stern-designed building, dropping $13.6 million for an eight-room apartment, Luxury Listings reported. In December, developer Larry Silverstein announced that he and his wife planned to purchase a $34 million for a penthouse on the 80th floor.

During an event hosted by The Real Deal in March, Stern said the design for 30 Park Place was intended to pay homage to the Art Deco tower,[……]

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NYC Real Estate Events

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With practically the whole New York City real estate community gallivanting in the Hamptons or elsewhere, this week is barren in terms of real estate events.

However, next week will fea爱上海龙凤419桑拿 上海龙凤论坛sh1fture the Urban Green Council’s Hyper-Efficient Building Workshop: Strategies to Comply with Local Law from 9 a.m. on Tuesday, Aug. 29, to 5 p.m. on W爱上海同城 爱上海ednesday, Aug. 30 at the Center for Architecture at 536 Laguardia Place in Greenwich Village. Speakers will discuss how NYC buildings are being made more efficient through a series of workshops and lectures.

There are few other events in August, but things pick up in September. Join the Opal Group on Mo新上海贵族宝贝论坛 上海贵族宝贝交流区nday, Sept. 18 at 8 a.m. to Tuesday, Sept. 1上海贵族宝贝 上海千花网龙凤论坛9 at 5 p.m at The Marriott New York Downtown at 85 West Street as it hosts its Capital Markets in Real Estate event. Hear from the real estate industry’s best and brightest, like Elisa Adam, CFO of Miller Global Properties, and Jim Ambrosini, managing director of CohnReznick LLP, as they provide insight on best practices and industry developments.

Also in September, tune in for the Asian Real Estate Professional Association’s (AREPA) networking event on Wednesday, Sept. 19 from 6 p.m. to 8 p.m. at Herrick, Feinstein LLP at 2 Park Avenue.George Xu, president of Century Development Group, will provide the keynote speech.

To search for future industry events or browse past ones, click here. And to submit more industry events, please reach out to [email protected]

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Xceligent

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Doug Curry

UPDATED, Oct. 24, 6:27 p.m.: Doug Curry was fired as Xceligent CEO Monday as the data company’s legal battle against rival CoStar is heating up.

On Tuesday night the company announced that Frank Anton, former CEO of media company Hanley Wood, will take over the company as executive chairman. Chief people officer Erin Curry is also out, the company said. COO Jody Vanarsdale will serve as acting CEO.

It wa阿爱上海同城 阿拉爱上海同城sn’t immediately clear why Curry was fired, but sources said it was unrela上海夜网 阿爱上海同城ted to the CoStar lawsuit and part of a broader restructuring of the company that could lead to cost cuts. A representative Xceligent could not be reached for comment beyond a press release.

Xceligent, which offers a爱上海同城 爱上海 subscription-based commercial property database, is a major player in several secondary markets, largely in the South, Midwest and in California.

British media compa上海千花网交友 上海千花网论坛ny the Daily Mail and General Trust bought Xceligent in 2012. Last year, the Missouri-based firm’s expansion into New York City and Curry has been spending much of his time meeting with local executives and building local partnerships. In May, it reached a deal with leasing comp database CompStak to integrate their online platforms.

The executives exits come amid ongoing litigation with a direct rival of the company. CoStar sued Xceligent in December for copyright infringement, alleging that it systematically stole its data. Xceligent hit back in June and filed an antitrust lawsuit.

Then, late last[……]

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NYC Multifamily Market 2017

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Here’s how the NYC multifamily market fared in October Brooklyn was the only borough that didn’t see a year-over-year increase in dollar volume

363 West 50th Street (credit: Ariel Property Advisors) and 825 West 187th Street

New York City finally saw a year-over-year gain in multifamily sales in October, although much of that growth was concentrated in Manhattan and the Bronx.

Overall, there were 38 transactions across 47 multifamily buildings in the city during October that totaled about $687 million, according to a new report from Ariel Property Advisors.

That was a sharp increase in volume from 12 months prior, when many buyers and sellers proceeded with caution ahead of the presidential election.

Manhattan saw $421 million in deals, accounting for 60 percent of the city’s overall volume. There were 16 transactions across 22 buildings in the borough — the highest numbers of the year in both categories — although dollar volume did drop 12 percent compared to September. The largest transaction in the borough was Starrett Corporation’s roughly $110 million sale of a 152-unit affordable housing complex at 341-363 West 50th Street.

Northern Manhattan — which Ariel groups separately and comprises the area north of East 96th and West 110th streets — saw lighter sales volume in October, with four transactions across six buildings trading for about $60 million. The largest deal was RCR Management’s roughly $33 million purchase of an 87-unit building at 825 West 187th Street.

The Bronx sa[……]

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Google Meatpacking District

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Google made Meatpacking an office destination. But the neighborhood can’t keep up with the giant’s rabid demand Search company has leased more space than the submarket’s added

860 Washington Street, 61 9th Avenue, and 412 West 15th Street (Credit: Google Maps, Google)

Since Google first entered the Meatpacking District in 2005 with its lease at 111 Eighth Avenue and its latest deal to buy the Chelsea Market building next door for $2.4 billion, the neighborhood s growing boutique office market has exploded.

Developers looking to cash in on the “Google effect” have built and are working on a number of boutique office projects in the supply-constrained submarket, chasing asking rents that have climbed as high as $200 per square foot.

But even as developers add hundreds of thousands of square feet of new space to the neighborhood, the added inventory just can’t keep pace with Goo上海千花网 爱上海同城对对碰gle’s voracious appetite.

The Meatpacking District will see more than 1.1 million square feet of new supply added since the development wave started in 2014 and the end of 2019, according to data from JLL. (The firm marks the neighborhood’s boundaries as everything west of Eighth Avenue to the Hudson River, between Gansevoort and West 16th streets.)

Some of the new ground-up or repositioned properties include Vornado Realty Trust and Aurora Capital s 61 Ninth Avenue, Romanoff Equities and Property Group Partners 860 Washington Street, RockPoint Group s 412 West 15th Street, and William Kaufman Organizati[……]

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Commercial Real Estate Loans

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Feds hike threshold for appraisals tied to commercial real estate loans Deals below $500k won’t require certified appraisal, instead of previous $250k limit

California Investment Immigration Fund, LLC operated out this space at a Hilton-brand hotel in San Gabriel, California (Credit: Pixabay)

New federal regulations mean fewer commercial real estate-related loans 上海千花社区 上海千花网交友will require an independent, certified appraiser to weigh in on a property s value before a bank can lend against it.

An inter-agency group of regulators decided on Monday to raise the threshold for commercial real estate deals that need approval from a state-certified appraiser from $250,000 to $500,000, Reuters reported.

Now, financial institutions can utilize the less stringent evaluation process instead of a certified appraisal for deals below the threshold. Evaluations also provide a market爱上海同城 爱上海 value estimate but do not have to comply with federal standards.

Raising the threshold will materially reduce regulatory burden, acc上海龙凤论坛 新上海贵族宝贝论坛ording to a joint press release from the Federal上海千花网论坛 上海千花网 Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, adding that upping the limit will not pose a threat to the safety and soundness of financial institutions.

The $250,000 limit was established in 1994. Regulators originally proposed raising the limit to $400,000 to keep it in line with inflation, but decided to raise the limit higher after considering comments from appraiser[……]

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Wells Fargo

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Wells Fargo under investigation for alleged role in low-income housing tax credit fraud Bank allegedly transferred tax-credit money to other deals

(Credit: Ildar Sagdejev via Flickr, Public Domain Pictures)

Wells Fargo is being investigated b上海贵族宝贝交流区 上海贵族宝贝论坛y the U.S. Department of Justice for allegedly colluding with affordable housing developers nationwide to drive down the prices of low-income tax credits – potentially defrauding hundreds of millions of dollars from the federal program.

Among the banks, Wells Fargo is the largest buyer of the tax credits. The San Francisco-based bank said last year that it had invested $9 billion into the program over the previous five years. Banks benefit by buying the tax credits through tax write-offs and credit under the Community Reinvestment Act.

The Justice department is looking into whether Wells Fargo offered developers more favorable loan terms or would fund other deals in exchange for making low bids on the tax credits. Former low-income housing developer Michael Cox of Miami-based Biscayne Housing Group, who was sentenced in 2016 for his role in a $36 million affordable scheme, said he was aware of Wells Fargo transferring tax-credit funds from one deal to another, according to Bloomberg.

The investigation began with the U.S. Attorney’s office 爱上海同城手机版 新爱上海同城对对碰论坛in Miami, which has been looking into housing tax-credit fraud statewide, Bloomberg reported. Wells Fargo, the focus of the probe, disclosed last week that government agencies were looking[……]

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