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Isaac Rosenberg Real Estate

BK landlord Isaac Rosenberg dies after drowning off Fla. coast He and three companions were swimming in Atlantic Ocean on Tuesday

UPDATED, 12:30 p.m., May 18: Isaac Rosenberg, a Brooklyn real estate investor and developer and a member of Williamsbu爱上海同城手机版 新爱上海同城对对碰论坛rg’s Satmar Hasidic community, died Tuesday morning after drowning off the coast of North Miami Beach, Fla.

Rosenberg and three other men were swimming in an unguarded area of the beach when they were caught by a current and swept into the Atlantic Ocean, according to local ABC News reports and Orthodox Jewish community outlet VIN News.

While two of the men, identified as Aron Wurzberger and Yitzchok Englander, escaped the current and are in stable condition, Rosenberg and another companion, Chaim Parnes, had to be rescued and were rushed to a loc上海千花网交友 上海千花网论坛al hospital, where they were pronounced dead.

Rosenberg, believed to have been in his 60s, was active in the Brooklyn real estate market alongside his brother, Abraham. He also went by the name Isack.

Among Rosenberg’s real estate assets is a massive property on Kent Avenue, along the Williamsburg waterfront, that Ziel Feldman’s HFZ Capital Group and former Vornado Realty Trust CEO Michael Fascitelli were reportedly eying for north of $250 million.

City and state politicians reacted to news of Rosenber上海千花网交友 上海千花网论坛g s death on social media:

Saddened to learn of the untimely death of Satmar community leader Isaac Rosenberg and Chaim Pa阿爱上海同城 阿拉爱上海同城rnes. #BDE

— David G. Greenfield (@NYCGreenfield) May 17, 2016

My deepest condolences to the Satmar Community on the tragic passing of President Rabbi Isac Rosenberg. My t新爱上海同城对对碰论坛 上海同城对对碰交友社区houghts prayers are with you

— Tish James (@TishJames) May 17, 2016

I m saddened by the tragic death of Isaac Rosenberg, President of Congregation Yetev Lev D Satmar. My prayers are with the Satmar community.

— Jesse Hamilton (@SenatorHamilton) May 17, 2016

#Brooklyn s hearts go out to the #Satmar community following the tragic drownings of Rebbes Chaim Parnes and Yitzchok Rosenberg in Miami.

— Eric Adams (@BPEricAdams) May 17, 2016

In addition to his real estate interests, Rosenberg also owned Williamsburg-based lumber supplier Certified Lumber. [ABC and VIN News] – Rey Mashayekhi

Correction: A previous version of this article stated that Rosenberg owned and managed more than 40 properties across Brooklyn. Many of those properties are owned by a different individual with the same name.

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NYC Market Reports

In the latest batch of New York City real estate market reports, Downtown Brooklyn could see a rise in office vacancy as occupancy costs rise, and Manhattan’s luxury ZIP codes are seeing a slowdown in爱上海同城手机版 新爱上海同城对对碰论坛 rent growth. Check out more in our roundup of the week’s market reports.

Residential

Luxury apartment rent growth: Zillow

Rent上海千花网论坛 上海千花网 growth slowed in 85 percent of New York City’s luxury ZIP codes, as an excess of supply lowered new development prices. Read the full report here.

June 2016 national rental report: Zumper

New York City saw rental prices for one- and two-bedroom apartments increase 4.8 percent and 3.1 percent ye上海千花网论坛 上海千花网ar-over-year, respectively. Since April, prices dropped 1.2 percent for one-bedrooms and 1.6 percent for two-bedrooms. Read the full report here.

Manhattan luxury contracts May 23-29: Olshan Realty

Manhattan’s luxury market saw a 7 percent chop from the average asking price for contracts signed during t上海千花网龙凤论坛 上海千花社区he last full week of May. Read the full report here.

Commercial

Q1 2016 Brooklyn and LIC office leasing: JLL

Vacancy in Downtown Brooklyn could be on the rise, with asking rents only 12.7 percent cheaper than Lower Manhattan. Overall gross asking rents in the area hit $50.42 per square foot in the first quarter of 2016. Read the full r上海同城对对碰交友社区 上海夜网论坛eport here.

May 2016 Manhattan office leasing: Newmark Grubb Knight Frank

More than 3 million square feet of office space was leased in May, on par with the monthly average. Financial tenants signed four of the five largest deals last month. Read the full report here.

June 2016 Downtown Manhattan office leasing: CBRE

Leasing activity in May totaled 221,000 square feet, down 51 percent from the five-year monthly average. Average asking rent was virtually unchanged from the prior month at $57.55 per square foot. Read the full report here.

June 2016 Midtown Manhattan office leasing: CBRE

Midtown leasing activity totaled just under 1 million square feet in May, under the five-year monthly average of 1.3 million square feet. Average asking rent was $81.18 per square foot, unchanged from the previous month and up 5 percent year-over-year. Read the full report here.

To view more market reports, check out the new TRData page.

Tags: Manhattan Office Market, Residential Market Report
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Housing Affordability

La Vie Boheme no more, US housing data suggests Fewer renters and homeowners were cost-burdened in 2015 than previous years

(Credit: Terner Center/Jed Kolko)

Sunny days are ahead for middle-class American households.

Fewer renters and homeowners were cost-burdened in 2015 than in previous years, according to an analysis of American Community Survey data cited by the Wall Street Journal. 

About half of all American renters spent more than 30 percent of their income — the threshold for what’s considered a “burden” — on rent in 2014, according上海千花社区 上海千花网交友 to the analysis author Jed Kolko, a senior fellow at UC Berkeley’s Terner Center for Housing Innovation. In 2015, however, that rate dropped to just over 49 percent, the lowest it has been since 2008.

Accounting for both renters and homeowners, the overall percent of cost-burdened households fell from 34.6 percent in 2014 to 33.6 percent in 2015, thanks in part to growing incomes and low interest rates. The number of cost-burdened households have been declining for five consecutive years since its peak of 38.1 percent in 2010.

The big jump in income between 2014 and 2015 helped owners and renters, Kolko told The Real Deal. And homeowners with mortgages got an additional boost from declining mortgage rates.

Overall homeownership has bee上海贵族宝贝 上海千花网龙凤论坛n declining, however, the data shows. Only 949,000 new households created in 2015上海龙凤论坛 新上海贵族宝贝论坛 — that’s down from the 1.2 million in 2014, though sales have been consistently rising in pace.

But single-family ownership posted an exceptional increase — the biggest year-to-year jump since 2007. In 2015, there were 65.7 million owner-occupied single-family homes, compared to the 65.2 million the previous year.

Kolko projects that this reflects the fact that families who lose their homes during the foreclosure crisis and subsequently became renters in the following years have finally become eligible to buy again. Cathaleen Chen

Tags: affordable housing, homeownership爱上海同城对对碰 爱上海同城论坛, Housing Market
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Private Island Resorts

Escape from NYC: Check out these new private island resorts Some of these resorts cost less that $500 a night

St. Regis Maldives

With winter rapidly approaching, it may just be the prime time to start planning your escape from the east coast.

Bloomberg compiled a list of nine new private island resorts in Madagascar, Fiji, Belize and other far-flung locations. Some of the resorts are also relatively affordable: Starting prices range from $300 to $2,500 per night.

1. St. Regis Maldives Vommuli Resort
Rooms: Start at $1,771
Fun上海贵族宝贝交流区 上海贵族宝贝论坛 fact: This is St. Regis first private island propert上海贵族宝贝 上海千花网龙凤论坛y.

(Credit: Time + Tide)

2. Miavana, Madagascar
Rooms: Start at $2,500 per person
Fun fact: Guests can go on lemur safaris.

3. Cempedak Island, Indonesia
Rooms: Start at $350, opens in March
Fun fact: Villas are built with bamboo.

4. Kamalame Cay, Bahamas
Rooms: Start at $450
Fun fact: Guests are treated to daily homemade cookie deliveries.

5. Six Senses Zil Pasyon, Seychelles
Rooms: Start at $1,282
Fun fact: Guests can go on sailing trips to neighboring islands.

6. Four Seasons Maldives Voavah
Rooms: Cost available only on request
Fun fact: A 62-foot yacht takes guests scuba diving to see one of the world s largest manta ray populations

7. Kokomo Island, Fiji
Rooms: Start at $1,995
Fun fact: The resort is named after a boat that billionaire owner Lang Walker had as a child. He now has a whole fleet of yachts also named Kokomo.

8. Milaidhoo Maldives
Rooms: Start at $1,476
Fu上海夜网论坛 上海夜网n fact: This resort is kid-friendly (ages 9 and older).

9. Turneffe Island Resort, Belize
Rooms: Start at $300
Fun fact: This resort is actually 15 years ol上海贵族宝贝交流区 上海贵族宝贝论坛d, but it just underwent major renovations. [Bloomberg] — Kathryn Brenzel

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Yair Levy

Yair Levy s daughters sell FiDi retail condo to Hubb NYC Fallen mogul was banned from selling real estate securities in 2011

From left: Johnny McCarthy, 71 Nassau Street and Yair Levy (credit: STUDIO SCRIVO)

Yair Levy’s daughters, in partnership with Ezra Mashaal of the Kash Group, sold the retail condominium at the base of 上海夜网 阿爱上海同城the 16-story Financial District apartment building known as the Croft, sources told The Real Deal.

Hubb NYC Properties paid $19.6 million for the 5,650-square-foot condo at 71 Nassau Street last week, sources said. Yair Levy and Mashaal converted the Beaux-Arts office building on the site to 52 luxury residential condos in 2005. The retail component, however, belongs to Yair Levy s two daughters, Rafaela and Galit Levy, and Mashaal.

Dan Deutsch爱上海同城手机版 新爱上海同城对对碰论坛, a son-in-law to Yair Levy who spoke on his behalf, told TRD that Yair had no ownership in the condo. Sources said the Levy family is searching for Manhattan properties to acquire as part of 1031 exchanges.

The conversion of the Croft building was one of Yair Levy’s several condo projects during the boom. His firm, YL Real Estate Developers, was responsible for Manhatt上海龙凤论坛 新上海贵族宝贝论坛an Condo Conversions Such As 225 Rector Place, the Sheffield and the Park Columbus. His $400 million empire declined in the downturn as he faced financial problems and claims of impropriety. And in 2011, he was permanently banned by the New York state Attorney General s office from selling condos and co-ops in the state.

In statement provided to TRD on Wednesday, a spokesperson for the AG s office said, “We take all violations of New York’s real estate securities law seriously, as demonstrated by the barring of Mr. Levy from selling co-ops and condos in the State, and the criminal action we’ve previously taken against those who violate court orders.”

Since Yair Levy s ban, the developer has largely stayed under the radar. In 2013, he bought six low-rise row houses on Tin Pan Alley at 45-55 West 28th Street in NoMad for a combined $21.5 million, records show.

Levy told Crain’s in 2014 that although he had no plans to do so, he could legally demolish those buildings and develop a condo tower despite the ban. Levy contended this was because he bought the Tin Pan Alley buildings through five LLCs named after each of the addresses, and that the chief executives of all five entities are Galit and Rafaela. But Attorney General Eric Schneiderman s office also told Crain s in the same article that Tommy and Alice Huang, a couple who had been banned from selling securities, were later fined $5 million after the office learned they used their son as a front to se上海千花社区 上海千花网交友ll real estate securities post-ban.

The retail condo, which also has the address of 29 John Street, holds 12 tenants, including Verizon and Sprint. It’s fully occupied and all of the leases expire between 2019 and 2026. There is 150 feet of Wraparound Street frontage.

Cushman Wakefield’s Stephen Preuss, Will Suarez and Denise Prevete marketed the condo on[……]

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James Lomma

Crane King James Lomma given 11-day deadline to pay $1.5M He will face $10K in daily fines上海千花网龙凤论坛 上海千花社区 if he doesn’t make the payment: Bankruptcy judge

Azure crane collapse (Credit: Getty Images)

James Lomma, whose crane collapsed at an Upper East Side condominium development and killed two people in 2008, was ordered to pay $1.5 million into an escrow account or face fines for breac爱上海同城手机版 新爱上海同城对对碰论坛hing a bankruptcy-court order.

Lomma the self-described “King of Cranes filed for Chapter 11 Bankruptcy in January last year, days after he was ordered to pay $96 million to the families of men killed at the Azure condo construction site. The machine’s operator, Donald Leo and lab上海夜网 阿爱上海同城orer Ramadan Kurtaj, 27, both died when the crane collapsed. A Manhattan jury found Lomma 61 percent liable and his firm 39 percent liable for the 2008 accident.

Lomma Had Been Ordered By Brooklyn Bankruptcy Court judge Carla Craig 上海千花社区 上海千花网交友to put the earnings from renting out his hundreds of cranes into an escrow account until an appeal of the verdict was final, the New爱上海 爱上海同城手机版 York Post reported. However, according to the newspaper, Lomma was caught funneling the money back into the company. He now must put $1.5 million into the account by June 9, or will face paying $10,000 in daily fines.

At the hearing last week, Lomma claimed he didn’t realize the money was going back into the firm until it was too late. However, Craig said there was “ample records” to support he was in contempt of the confirmation order.

“Whether he knew what was happening when the money came in or not, it was his business to keep on top of that,” she said, according to the Post.

Last year, Lomma refused to sell his $4.6 million airplane to pay a portion of the $96 million verdict against him.
[NYP] Miriam Hall

Tags: crane accident, Development, james lomma, Residential Real Estate
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280 Cadman Plaza West

Hudson Companies lands $280M con爱上海 爱上海同城手机版struction lo爱上海龙凤419桑拿 上海龙凤论坛sh1fan for BK Heights project Developer building 134 condos and a new library at 280 Cadman Pl上海千花网论坛 上海千花网aza阿爱上海同城 阿拉爱上海同城 West
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Leonard Street

Is Leonard Street the new上海千花网交友 上海千花网论坛 Fifth Avenue? Forget Fifth Avenue, there’s a new hot street in Manhattan

(Credit: Po上海千花网 爱上海同城对对碰tro, back; The Jamie L. Whitten, Federal Building, U.S. Department of Agriculture in Washington, front)

In the competitive, crowded condo market, an address can mean everything higher prices, faster sales, numerous offers爱上海 爱上海同城手机版 and brokers are seeing this first hand on Leonard Street in Manhattan.

Ever since Herzog deMeuron s 56 Leonard Street opened, the street name has become a symbol of Tribeca s prestige and distinction, according to the Wall Street Journal.

“It put Leonard Street on the map,” said Compass Leonard Steinberg to the Journal. “It is instantly recognizable to a large group of people who know Tribeca.”

Now some developers who are close to Leonard Street are renaming their buildings; The Leonard is one building s new name while others are opting for a Leonard Street address. For example, 346 Broadway is now 108 Leonar爱上海同城 爱上海d while 350 Broadway is now 101 Leonard.

“I always appreciate it if an address will tell me where something is,” marketing consultant Richard Pandiscio told the Journal. For him and others working in the area, Leonard Street is now synonymous with Tribeca.

[WSJ] E.K. Hudson

Tags: 56 leonard street, Development, manhattan apartments, marketing, tribeca
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