San Francisco and Bay Area Office Report Q3 2019: Sales Volumes Set Multi-Year Highs As Lease Rates Rise
Key Takeaways: 18 major office projects were completed in Q3 with 15 more expected by year-end Sales volume sets a 5-year record at nearly $2.7 billion in San Francisco Sales volume in the Bay Area set a multi-year high of more than $2.9 billion Lease rates continue trending upward with trophy vacancies in San Francisco…
5 Best Coworking Spaces in Santa Monica
Apart from its golden, sandy beaches and incredible sunsets, Santa Monica is also an established hub for entrepreneurs and freelancers seeking shared workspaces. Of course, you can spend your workday on the oceanfront, but sometimes you’ll be needing certain amenities that only a coworking space can offer. We put together a list of the top…
Commercial Real Estate Financing Explained
Key takeaways CRE loans tend to be more flex and offer more options than non-commercial loans like shorter terms and a variety of payment options There’s a variety of commercial financing depending on the asset type and the investment strategy Get familiar with financial metrics used by lenders to evaluate commercial properties like LTV and the…
Securing Space in NYC: Security Deposits & Down Payments
NYC-based boutique law firm Pardalis & Nohavicka brings the latest legal updates from the world of real estate to PropertyShark. Pardalis & Nohavicka handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions, currently litigating and representing clients throughout the United States and around the world. When looking to rent or purchase…
New York Apartment Construction Drops for the Second Year in a Row
Key Takeaways: New apartment deliveries down 8% Y-O-Y nationally; New NYC apartment deliveries down 33% Y-O-Y; Bushwick home to 8% of new apartment supply in NYC; Â 2019 marks the second year in a row in which apartment construction declines in New York metro. After 2018 saw the number of projected new apartments fall from…
Cove Property Group’s Hudson Commons Gets $724M Refi from Blackstone
On Monday, Cove Property Group announced the closing of a $724.2 million financing from Blackstone Mortgage Trust for Hudson Commons, its trophy office redevelopment located in Manhattan’s Hudson Yards. An Eastdil Secured team led by Grant Frankel, Phil McKnight and Ethan Pond represented Cove in the deal. “We are thrilled to provide senior mortgage financing…
Two-Family Manhattan Brownstone Up for Auction Again
A 2,816-square-foot, two-family, brick Manhattan building built in 1901 heads to auction on December 11, 2019, for just over $1 million. The auction is set for 2 p.m. at 60 Centre Street, New York City. The property at 310 East 84th Street was purchased by the owner in 1997 for $855,000. The same day, a…
16 Things to Consider When Leasing Office Space
One of the most exciting things about running a business is moving into a new office, and it’s an important milestone that can help your business grow and prosper. However, choosing the wrong office lease can stop your growing business in its tracks, regardless if you’re in Los Angeles or New York City. To avoid…
30 Key Office Leasing Terms You Need to Know
Negotiating a commercial office lease can be complicated; it’s sort of like trying to read a prescription from your doctor. There are abbreviations, jargon, and words that commercial real estate (CRE) professionals use every day, and they assume you know what everything means. To make things even trickier, the exact same term can mean different…
Top 50 Most Expensive Desert States Zip Codes in 2019
Key Takeaways: At $1.76 million, Glenbrook, NV, is the most expensive desert states zip code. Only 3 Nevada and Arizona zip codes feature medians greater than $1 million. Paradise Valley remains home to Arizona’s priciest zip code, up 40% in two years. With 7 each, Phoenix and Scottsdale tie for the highest number of expensive…
Manhattan Office Report Q3 2019: Price per Square Foot Reaches $1,676, Trophy Leases Surge
Key Takeaways Wafra flips the Coca-Cola Office Building and nets $30 million in less than 30 days Class A+ office rents in Manhattan surge 9.5% month-over-month Office sales prices reach a four-year high of $1,676 per square foot 3 million square feet of new office inventory set to hit the market by year-end Most signs…
$1.2M Pre-War Condo Hits Auction Block with $600K Lien
An 856-square-foot condo in a pre-war, full-service doorman building is headed to auction on December 4, 2019, with a lien of less than $600,000. The auction is scheduled for 2 p.m. at 60 Centre Street, New York City. The property, Unit 7C located at 230 Riverside Drive, was purchased in April 2007 for $890,000. On…
Facebook Officially Signs Lease for 1.5M SF at Hudson Yards
Facebook has officially signed a lease for over 1.5 million square feet of Manhattan office space at Hudson Yards, after months of rumors about the company’s interest in the location. The tech behemoth will be taking over 30 floors in three of the Hudson Yards buildings, developers Related Cos. and Oxford Properties Group announced last…
Top Most Expensive U.S. Zip Codes in 2019
While 11 states rank, California claims most expensive zip codes in any city, county or metro with San Francisco, L.A. County and Bay Area.
Miami-Dade Residential Price Evolution 2014-2018: Median Sale Price More Than Doubles in 7 Markets
Key Takeaways: Pinewood leads residential price growth with 138% expansion rate. Highest growth rates recorded in markets with 2014 medians below $80,000. Fontainebleau sales activity soars with 210% appreciation. Miami median sale price gains 30% in five years, hits $334,000. At $2.4M, Golden Beach is most expensive Miami-Dade market. One of the most vibrant cities…
Are NYC Pieds-a-Terre Facing Additional Taxation?
NYC-based boutique law firm Pardalis & Nohavicka brings the latest legal updates from the world of real estate to PropertyShark. Pardalis & Nohavicka handles an eclectic array of matters, representing individuals and business owners in civil litigation, criminal cases and business transactions, currently litigating and representing clients throughout the United States and around the world. New York City is always looking…
Bay Area Price Evolution 2014-2018: Bethel Island Median Up 117%, but Peninsula Still Absolute Price Leader
Key Takeaways: Median sale price up 40%+ in one-third of Bay Area markets. Bethel Island median leads with 117% expansion. 43 Bay Area municipalities post medians of at least $1 million. Penngrove leads sales activity growth, expanding 88%. At $6.7 million, Atherton is the most expensive Bay Area market. One of the most exclusive real…
Multifamily Sales Volume Declines City-Wide, But Gains 26% Y-o-Y in Brooklyn
Key Takeaways: City-wide multifamily sales volume down 60% Y-o-Y. Brooklyn sales volume climbs 26% Y-o-Y. NYC price per unit gains 26% over year-ago figures. Top multifamily sale in Manhattan fetches $53 million. YTD unit volume drops 65% in Queens. Sales activity down 60% in the Bronx. As New York City’s commercial real estate market adjusts…
2-Bed, 2-Bath East Village Condo Heads to Auction for Less Than $800K
5.5-room condo in East Village elevator building is heading to auction on November 20, 2019. The lien is $786,804 on a property estimated to be worth nearly $2 million. The auction is set for 2 p.m. at 60 Centre Street in New York City. Unit 6D in the elevator condo building located at 754 East…
Hudson Valley Residential Price Evolution 2014-2018: Prices Contract in 39% of Hudson Valley Markets
Key Takeaways: Stanford leads Hudson Valley price evolution with 36% median growth. Deerpark undergoes biggest price contraction at 27%. Sales activity more than doubles in Union Vale and Dover Town. At $1.85 million, Rye has the highest median sale price in the Hudson Valley. Located on the doorstep of one of the most dynamic real…
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