上海阿拉龙凤后花园

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Trucking exec sues for missing breakfast bar and private elevator at 56 Leonard

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Trucking exec sues for missing breakfast bar and private elevator at 56 Leonard
Ronald Dana bought $29M penthouse in 2017
New York /

A New Jersey trucking mogul has sued the developers of 56 Leonard, alleging he did not get the private elevator access and breakfast bar he was promised in his $29 million penthouse.
Ronald Dana — founder of the Dana Companies — said Alexico Group and Hines failed to deliver on specific features that sold him on the Tribeca condominium, including soaring 14-foot ceilings, a private elevator, a breakfast bar and an integrated curtain system for the apartment’s floor-to-ceiling windows.
In addition, the sponsors attempted to “conceal defects” in the unit — namely poorly-installed wood flooring, which began to crack and warp months after Dana took possession of the pad last year, the complaint said. In the suit, Dana also claimed Corcoran Sunshine Marketing Group “knowingly and purposefully” lied about the state of the apartment during the marketing process.
The March 9 suit was filed by Dana’s Lower Manhattan Inner City Real Estate Associates, LLC, which closed on the 56th-floor pad in April 2017, public records show. The full-floor penthouse — measuring 5,858 square feet — has four bedrooms, a conservatory and 360-degree views, per the listing. It has two balconies, and custom interiors by Herzog de Meuron feature[……]

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Miami real estate loves Bitcoin – will Bitcoin love it back?

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Miami real estate loves Bitcoin – will Bitcoin love it back?
Developers and brokers are embracing the cryptocurrency – but have they factored in its volatility?
Miami /
(Photo illustration by Jhila Farzaneh for The Real Deal. Credit: Getty Images)
A condo for sale in Miami hit the market earlier this month accepting only Bitcoin, grabbing headlines as one of the only U.S. real estate listings to limit itself to the cryptocurrency.
The one-bedroom pad at 480 Northeast 30th Street listed on Dec. 8 for 33 Bitcoin, or about $550,000 at the time, according to the listing agent. But as of Tuesday, 33 Bitcoin is now equal to about $603,000. In dollar terms, that’s a jump in the asking price of about 10 percent in less than two weeks.
As Bitcoin mania mints a new crop of millionaires, many who struck it rich betting on the cryptocurrency are looking for ways to diversify their wealth. Real estate agents and sellers are hoping to lure them by touting their Bitcoin-friendly listings.
“A lot of folks who have been speculating on Bitcoin are trying to find a place to put this wealth,” said Andrew Hinkes, a Miami-based attorney. Foreign investors sitting on “mountains of capital” could also turn to Miami real estate as a safe haven for their cryptocurrency fortunes, he said.
But the 480 Northeast 30th Street example illustrates just how tricky things can ge[……]

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Manhattan’s “super prime” luxury condo developments, ranked

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Manhattan s super prime luxury condo developments, ranked
Knight Frank report identified those with the highest average price-per-foot
New York /
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Brooklyn’s toniest neighborhoods posted big declines in home prices in Q1

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Brooklyn s toniest neighborhoods posted big declines in home prices in Q1
A weekly feature brining you the industry’s latest intel
New York /
Homes in Bay Ridge, Brooklyn (Credit: Wikimedia Commons)
Residential
Sales | Ideal Properties
The median price of a home in Brownstone Brooklyn (Boerum Hill, Brooklyn Heights, Carroll Gardens, Clinton Hill, Cobble Hill, etc.) and North Brooklyn (Williamsburg, the Navy Yard and Greenpoint), dropped 11.4 percent year-on-year to $1.02 million in the first quarter. The decline was partly due to a weakening condominium market. During the period, the average sales price for the segment stood at $1.446 million, which amounts to a 7.1 percent drop compared to the same time last year. Read the report here.
Sales | CORE
The average asking price to closing price discount in Manhattan’s luxury and new development market stood at ten percent during the first quarter. The figure represents the highest in two years. In spite of the bargains, the pace of closings was sluggish. For the quarter, the Manhattan market averaged 181 closings per week, down from the 235 closings during the same time last year.
Sales | Platinum Properties
The number of homes sold in the Financial District dropped 52 percent year-on-year in the first quarter to just 50 units. The decline was attributed to uncertainty surrounding the new tax law[……]

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Wildfires and a trade dispute with Canada are creating a US lumber shortage

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Wildfires and a trade dispute with Canada are creating a US lumber shortage
Higher prices are passed on to builders and eventually homeowners
Los Angeles /
(Credit: Wikimedia Commons)
A perfect storm of politics, logistics, and natural disasters has created a shortage of lumber that’s become a bona fide “crisis,” for suppliers, industry experts say.
Suppliers are having a hard time getting material to builders, and wood that does make it to construction sites comes at a premium, according to a report in the Wall Street Journal. That is making home building more expensive, and could affect what builders anticipate will be one of the busiest years for home construction in recent memory.
One Colorado-based builder told the Journal he’s spending $8,500 more on a typical home than he did a year ago.
Initially, what set prices rising were a series of wildfires last year in Canada’s forests big enough to be seen from space and a U.S.-Canada trade dispute. That disagreement had U.S. suppliers hesitant to resupply at higher prices.
Trade disputes between the U.S. and Canada date back to the 1980s, but periodic agreements have temporarily settled them. They flared up again when the Trump administration set a 20 percent tariff on Canadian lumber imports last year, after negotiations for another agreement fell apart, the Washington Post reported.
Bad weat[……]

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Inspectors missed hazardous, unsafe conditions on NYC elevators: report

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Inspectors missed hazardous, unsafe conditions on NYC elevators: report
14,828 inspections weren’t conducted between 2015 and 2016
New York /
Credit: NosUA via iStock
A new report on the city s elevators conjures nightmare scenarios: Worn-out cables and the danger of the doors opening between floors.
In three different buildings, city and state officials found that elevator inspectors didn t notice defective door restrictors, the devices that prevent the doors from opening between floors, according to a report released by the New York State Comptroller Thomas DiNapoli. At two other buildings, officials discovered rouging, abrasions that cause hoist cables to wear. According to the report, an inspector missed the issue in one building, and the inspector in the other noticed the abrasions but didn t have the proper tools to determine the severity of the issue.
The comptroller s office and inspectors with the Department of Buildings observed inspections of 12 elevators at nine buildings in the five boroughs from January 1, 2015 through October 20, 2017. The report found that contractors hired by the DOB to conduct investigations sometimes signed off on inspection certifications without actually performing the inspections and overlooked 29 violations, including a broken emergency telephone and an expired fire extinguisher in the elevator.
Perhaps ev[……]

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