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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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The first rule of working with a billionaire buyer is: You do not talk about the billionaire buyer

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The first rule of working with a billionaire buyer is: You do not talk about the billionaire buyer
A look at how Michael Dell kept his record-setting One57 condo buy quiet
New York /
Michael Dell and One57
Michael Dell may have bought his $100.5 million penthouse at One57 years ago, but a strategy that included multiple nondisclosure agreements and pass-through entities allowed him to keep his identity a secret until last week.
Dell — who was represented by the Corcoran Group’s Leighton Candler in the sale — relied on a close network of agents, architects and others to keep his record-setting purchase a secret, a sign of how much value the country’s top earners have started to place on privacy when it comes to their real estate dealings, according to the Wall Street Journal.
“People don’t want people knowing what they spend,” Douglas Elliman broker Frances Katzen told the Wall Street Journal. “You almost have to channel the purchase through three different subsidiaries to hide the buyer, and most prefer to have some kind of gag order in place with the people they’re working with.”
The chief executive of Dell bought his condominium through the limited liability company, P89-90, and his attorney Andrea Riina signed every document related to the sale. He also does not seem to have taken out a mortgage on the building, further limiting the number of[……]

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Brown Harris Stevens launches global broker network

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Brown Harris Stevens launches global broker network
30 firms are promoting each others’ listings
New York /
Bess Freedman and Hall Willkie
After Brown Harris Stevens was unceremoniously dumped by Christie s last year, the luxury brokerage found itself without an international partner for the first time in 30 years. So co-president Hall Willkie cracked open his Rolodex.
Six months later, he s rounded up 30 brokerages around the globe that have agreed to promote each others listings online — without the fees or marketing costs associated with other affiliation agreements. The initiative went live in late December.
The unique part is that for each listing, the contact is the listing broker themselves, said Willkie, adding that there are no meetings, no dues and no referral fees — just exposure to buyers and sellers. It s a service we provide to our partners and they to us.
So far, the group of 30 firms includes BHS, Hilton Hyland Real Estate in Beverly Hills, Daniel Féau in Paris and London s Strutt Parker, among others. Willkie estimates the group will include 45 by the end of the year.
Over the past decade, nearly every residential firm in New York has buddied up with an international player — such as Leslie J. Garfield and London-based Beauchamp Estates; Stribling Associates and Savills; Douglas Elliman and Knight Frank; and Corcoran Group an[……]

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Zillow and REBNY finally come to the table over RLS feed

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Zillow and REBNY finally come to the table over RLS feed
The listings portal’s CEO Spencer Rascoff met with John Banks on Thursday
New York /
From left: Susan Daimler, Spencer Rascoff and John Banks
For the better part of a year, StreetEasy has been a magnet for criticism from much of New York real estate s brokerage community.
But a visit Thursday by Spencer Rascoff, CEO of StreetEasy s parent company Zillow, to the Real Estate Board of New York may signal a thaw in relations.
Sources said Rascoff — who is based on the West Coast — met with senior REBNY officials, including president John Banks, to discuss the possibility of StreetEasy taking REBNY s syndicated listings feed, which it so far has disavowed.
It s not happening tomorrow, said one source familiar with Thursday s discussion. But they were open. They were listening. It s something that s being considered.
The meeting was two months in the making, according to sources. After reaching an impasse with StreetEasy, REBNY reached out directly to Rascoff late last year to propose a face-to-face meeting.
In addition to Rascoff and Banks, others present at the meeting included Susan Daimler, general manager of StreetEasy; Jim Whelan, REBNY s executive vice president and chief lobbyist; and Sandhya Espitia, REBNY s senior vice president.
It was a productive, positive conversation, confir[……]

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Compass reels in Southampton broker Matthew Breitenbach from Elliman

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Compass reels in Southampton broker Matthew Breitenbach from Elliman
He joined Elliman in 2015 after working with mom, Corcoran’s Susan Breitenbach
New York /
719 Ocean Road and Matt Breitenbach (Credit: Corcoran and Getty Images)
It s still January, but Compass is fishing in the Hamptons again.
The Union Square-based firm said Monday it hired Douglas Elliman s Matthew Breitenbach — a top East End agent and son of the Corcoran Group s Susan Breitenbach — to join its Southampton office.
The son of two real estate professionals, Breitenbach started in the business at the Corcoran Group, where he spent eight years working with his mother, the No. 2 agent in the Hamptons, according to The Real Deal s July 2017 ranking of residential brokers. His father, Stephen, is a luxury homebuilder and owner of Breitenbach Builders. Matthew Breitenbach joined Elliman in 2015.
According to Compass, Breitenbach has sold more than $1.5 billion in real estate — a good chunk while working with his mother. His celebrity clients include the NBA s Jason Kidd and Kyrie Irving, as well as the actor Jeremy Piven and music mogul Russell Simmons.
Breitenbach said he d been doing well at Elliman, but shares Compass hunger and desire to grow and build in the Hamptons.
I really want to attack the luxury market even harder than I have been, he said, adding that Compass market[……]

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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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