U-Store-It Buys Fourth Storage Facility in New York
U-Store-It, LP, the real estate company focused on ownership, operation and acquisition of storage facilities, has acquired its second storage facility in Queens and its fourth city-wide, a deed recorded last week shows. This brings the company’s total investments in New York to $51,150,000. The company paid $13.6 million for 11-25 Wyckoff Avenue, a self-storage…
Temporary freeze bring foreclosures to pre-crisis levels in Long Island and the Hamptons
The temporary foreclosure freeze had a massive effect on the number of properties scheduled for auction in the last month of 2010, and its effects will extend into 2011 as well. It has artificially brought down the number of scheduled auctions to pre-crisis levels. Only 78 properties were scheduled for auction in December 2010 in…
CIM Group Pays $469 Million for Stake in 11 Madison Avenue
A title document recorded last Thursday shows CIM Group paying $469,400,000 for 49% of 11 Madison Avenue. The massive 1,600,000 square f00t property was bought by the Sapir Organization in 2003 for $675,000,000, our records show. The deal was first reported by the Wall Street Journal on December 16th. However, the transfer price was undisclosed…
Q4 2010 Manhattan Apartment Sales Map
The major brokerages in New York just published their quarterly market reports on the state of the Manhattan real estate market. PropertyShark has put together an interactive map, accompanying the quarterly market report of the Corcoran Group, which displays closed apartment sales in Q4 2010. On the map, the size of the circle indicates the…
Data shows 5th year of decline in new building construction permits filed
A study on new construction permits filed in New York in the first eleven months of 2010 shows a 28% drop compared to the same period of last year. This represents the fifth year of decline in new building permits issued by the City, which total only 5,924 for the first eleven months of 2010,…
Surge in Investor Confidence, particularly in Multifamily properties
An article in Multi-Housing News reports an increase in investor confidence, particularly in Multifamily properties, based on the Third-Quarter 2010 Real Estate Investment Outlook released by Marcus & Millichap and NREI. Read more at www.multihousingnews.com/news/surge-in-confidence-puts-investors-on-the-hunt-particularly-for-multifamily/
Top apartment buildings with most units sold in 2010 in NYC
PropertyShark has identified the apartment buildings that had the highest number of units sold during the three quarters of 2010.
Fort Greene’s Cartlon Mews Changes Hands Yet Again
The development site in Fort Greene known as Carlton Mews has been resold, yet again, this time for $4.1 million. The development site, which encompasses a church, a townhouse and two vacant lots, was most recently acquired in December 2009 for $5.75 million, by Sprain Brook Realty. Sprain Brook Realty apparently shared a CEO with…
Top Multifamily Buildings sold in 2010 in NYC through 3 quarters
Here are what we found to be the top multifamily homes sold in the three quarters of 2010 in Manhattan, Brooklyn and Queens. We made 3 interactive maps showing what were the most expensive buildings bought in each of the three boroughs.
Last PropertyShark networking event of the year in Manhattan on October 26th
The last PropertyShark.com real estate networking event of 2010 will be held on October 26th in Manhattan. Over 300 investors and real estate professionals have already registered. (See the list here).
It will be a great mix of industry professionals including investors, lenders, developers, lawyers, brokers, appraisers, and more! Build your network and get leads, find jobs, and close new deals.
It’s free for all paid PropertyShark subscribers (plus a guest) as a benefit of being a subscriber. It’s $15 admission for everyone else ($25 at the door depending on space). If you subscribe before you register for the party, you will get in free.
Everyone must register in advance at https://www.propertyshark.com/mason/rsvp.html
Complimentary food will be served by the venue. Reserve now, as space is limited.
Top New York City Commercial Deals In August 2010
At the top of the list is a 24 story office tower located in Midtown. SL Green purchased it for $330 million on August 31 from Shorenstein Company LLC.
Resale Prices at 101 Warren Street Slightly Up Over the Developers Sale Prices
Less than a month ago it was announced that 101 Warren Street, the Tribeca condo development, had sold out. The building brought in sales of $650 million and the developer named it “by far the largest and most successful condominium offering in the history of Downtown Manhattan”. Of the 227 residential condos, 9 have been…
NYC residential listings with largest price cuts in the past week
Here are the top 3 listings of residential properties (coop units, condo units, single family homes) in NYC that we’ve found to have the largest total dollar price drops during the past week. You can click on the photo for more listing details or click on the address for a detailed property report. 812 Park…
Top 3 priciest apartments listed for sale this week in New York City
Here are the top 3 properties in New York City with the highest asking price that hit the market in the past week. You can click on the photos for more listing details or click on the addresses for detailed property reports. 941 Park Avenue #14/15A, Upper East Side, NY 10028 Coop Beds: 4 Baths:…
Long Island, Hamptons: Potential Deals Coming Up At the Auction
Our attention was drawn by a Curbed Hamptons post on a $485,000 loss (over the previous purchase price) of a Montauk beach house. The property, located at 20 Gilbert Road, was reportedly bought in 2006 for $1.2 million, repossessed by the bank in April 2009, according to our records, and then sold at an online…
W Union Square Sale Closes for $185 million
The widely reported sale of W Union Square to a venture led by Host Hotel & Resorts got closed on September 2nd, our records show. The sale price was $185,250,000. Istithmar, the private-equity arm of Dubai World, bought the hotel for about $282 million in 2006, the Wall Street Journal reports, but defaulted in October…
AvalonBay buys 7th Property at Bridge and Willoughby Streets in Brooklyn
AvalonBay Communities Inc., the Virginia-based developer and property manager of luxury apartment communities, has acquired another property (the seventh!) on the corner of Bridge and Willoughby streets in Brooklyn, NY. The property, a 3,000 square foot mixed-use building, is located at 92 Willoughby Street and was acquired for a little over $15.3 million. It comes,…
Centre Island Home Closing at $8.2 Million, the Most Expensive in Nassau County
A 8,760 square foot single-family home in Centre Island sold for $8,235,000, according to our records, to become the most expensive home sold so far this year in Nassau County, NY. The property was built in 2006, and the owner, Stephen Gatfield, CEO of Loewe Worldwide, put it on the market just two years later,…
N.Y.U. Acquires Third Floor at the Silk Building
New York University has bought the third floor at the Silk Building for $9,914,314, according to city records published yesterday. The commercial condo unit was owned by Abs Partners Real Estate LLC, who bought it for $5,350,000 in 2006. According to our records, N.Y.U was already a tenant of the 3rd floor space. This is…
Manhattan Transactions Growth Nearly Stalled in July but Prices Rose Significantly
The first two quarters of 2010 saw a big increase in the number of closed apartment sales in Manhattan compared to the same quarters in 2009. The average year over year rate of closed transactions each month was 75.8% higher for the first six months of the year. However that monthly increase almost disappeared in…
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