NBA null null Basketball Kevin Love is like a lot of us. He just wants to hang out with the cool guys. So often in the past, Love has been disregarded. Tossed aside.When the Cavaliers pose for a team Instagram photo, Love is nowhere to be seen. Maybe he wasn’t in the area, or maybe LeBron James pushed him out of the way like he did with David Blatt. But Monday night, after defeating the Pacers in overtime, Love felt, well, loved. MORE: 15 most overpaid players | How Lue should manage the Cavs Great OT road win #squadUP #ontothenext #HELLYEAHHHHimadethepicA photo posted by @kevinlove on Feb 1, 2016 at 8:15pm PSTThat third hashtag is so crucial. “Hell yeah I made the pic.”You see, Love is excited because just three few weeks ago he had to photoshop himself into the team pic.#KevinLove #photoshop himself in #Cavs team photo posted on #lebronjames #Instagram – Stop leaving me out pic.twitter.com/GAkWiFjrGI— PEEPS (@kevindpeeples) January 9, 2016This hasn’t been a 2016 issue, either. He was left out of the team Instagram photo last year as well.The exclusion became a talking point and made ESPN’s Mike Greenberg say to Love, “LeBron James will put a[……]
NBA null null null Basketball Mavs owner Mark Cuban was very critical of NBA official Ken Mauer before Dallas took the court Wednesday.Mauer gained attention Tuesday night when he ejected Clippers coach Doc Rivers in overtime, but that’s not what Cuban had an issue with. The outspoken owner was upset with the very first play of the game when Nets shooting guard Bojan Bogdanovic blatantly double-dribbled (and traveled) and it wasn’t called. MORE: Biggest early-season surprises and disappointments”Refs are going to miss things because there’s other things going on, but there was nothing else going on. It was the first or second play of the game, and he was standing right there,” Cuban said, via ESPN. Cuban also made comments to those by Doc Rivers, who hinted there was more at play than just a typical foul call that led to his ejection. Rivers said Tuesday about the call, “What the league is going to do, they’re going to fall back on, ‘He crossed half court.’ You’ll see tomorrow, that’s what they’re going to say. And we’re going to all know that’s not the r[……]
DivcoWest CEO Stuart Shiff and Jamestown Properties Michael Phillips with 325 Hudson Street (Google Maps)
DivcoWest struck a deal to buy a Hudson Square building in what could be one of the first big office trades of the new year.
The San Francisco-based real estate investment firm has an exclusive agreement to buy Jamestown Properties’ 325 Hudson Street, sources told The Real Deal. Pricing for the 10-story, 225,000-square-foot building is north of $150 million, according to one source.
Representatives for DivcoWest and Jamestown did not respond to requests for comment. CBRE, which sold the building to Jamestown nine years ago, negotiated the deal.
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Depending on the timing, 325 Hudson could end up being one of the first big investment sales of the year, after a spurt of big-ticket deals closed right before the end of 2020.
Jamestown bought the property in 2012 for $110 million in partnership with Philadelphia-based developer Amerimar Enterprises and the telecoms entrepreneur Hunter Newby. The former industrial building sits on top of the Transatlantic cables and high-speed fiber corridors that run through Lower Manhattan, making it popular with telecommunications and tech tenants.
In the 1990s, it was reportedly one of the first office buildings to be marketed as a dedicated telecoms center for commercial tena[……]
Sales at Forest City-Greenland s 550 Vanderbilt slow down
Cleveland-based REIT had a turbulent 2016
New York /
Sales at Forest City Ratner and Greenland Group’s Prospect Heights condominium development 550 Vanderbilt have slowed considerably in recent months, which developers attributed to a weakening condo market.
The joint-venture partners have sold 167 units as of late January, Forest City executives said during an earnings call Monday morning meaning they sold 27 units in the seven months between June and January. They had sold 140 units during the first 12 months of sales, between June 2015 and June 2016.
“Pricing is within our our pro-forma range, although the pace is modestly slower than initially anticipated,” said Robert O’Brien, CFO of Forest City Realty Trust, the parent company of Forest City Ratner . According to O Brien, 110 apartments in the 278-unit building remain available.
Despite Forest City s assessment, appraiser Jonathan Miller of Miller Samuel told The Real Deal that the Brooklyn condo market doesn t seem to be slowing down. In fact I ve had a number of people tell me that because of all the emphasis on rentals there is a shortage of condos. Slowing sales at 550 Vanderbilt could boil down to high asking prices, he speculated.
StreetEasy data shows that sales have remained brisk in recent months at competing condos the Oost[……]
In resi development, Other People s Money no longer cuts it
There’s enough skin in the game where it would be painful for the developer to walk:” Peebles
New York /
For years, one of real estate’s dirty little secrets was how little equity some developers put in their own real projects. The mantra was Other People s Money, which allowed sponsors to recover from failures with only superficial wounds.
No longer. Now, there’s enough skin in the game where it would be painful for the developer to walk,” said Don Peebles, CEO of the Peebles Corporation.
“Capital is plentiful, but it’s not dumb,” added Billy Macklowe, speaking at Haute Residence s luxury real estate summit at the Core club Friday. “Most capital allocators want to see sponsor equity.”
Senior lenders are willing to contribute between 40 and 60 percent of the capital stack, down from as high as 90 percent pre-2008.
Mitchell Moinian of the Moinian Group said his firm puts up at least 50 percent of a project’s equity. And there are advantages to that approach, with sponsors having greater control over their projects, he said.
“The more you’ve seen the rodeo, the less you’re willing to expose yourself to highly-leveraged debt,” said Continuum Company s Bruce Eichner, who s on the third or fourth of his proverbial nine lives in this business.
Peebles said he typically puts up about 20 perce[……]