A New York City office building owned by an affiliate of Related Companies is to be sold at a deep discount. Empire Capital Holdings and Namdar Realty Group have agreed to buy the property at 321 W. 44th St. for less than $50 million, said the people, who asked not to be identified discussing the privacy of the property, a discount of about 67% from the roughly $153 million that Related Fund Management paid for it in 2018. The transaction was a short sale, according to people familiar with the matter, meaning Related and its lenders, including the Canadian Imperial…
Author: Private Lending Agent
Current Discount RBC Mortgage Rates Periodic Interest Rate APR 1 year (closed), fixed 6.59% 6.72% 2 year (closed), fixed 6.19% 6.25% 3 year (closed), fixed 5.29% 5.33% 4 year (closed), fixed 5.19% 5.22% 5 year (closed), fixed 5.14% 5.17% 7 year (closed), fixed 5.90% 5.92% 5 year (closed), variable 6.49% 6.52% The table is updated every weekday using data published on the Royal Bank of Canada's website. Currently published RBC mortgage rates Periodic Interest Rate APR 1 year (closed), fixed 7.84% 7.97% 2 year (closed), fixed 7.44% 7.50% 3 year (closed), fixed 6.95% 6.99% 4 year (closed), fixed 6.74% 6.77%…
CharlotteBuyer: Lennar Homes LLCSold by: DRP FL 6 LLCAddress: EnglewoodProperty Type: Vacant landPrice: $2,374,300CollierPurchaser: Omni RE Holdings LLCSold by: 9720 Sample LLCAddress: 1990 Seward Ave., NaplesProperty Type: Manufacturing PlantPrice: $3,720,000Previous price: $2,850,000, August 2022HillsboroPurchaser: Tampa Regency Owner LLCSeller: Regency Park North LLCAddress: 599 Lake Kathy Drive, BrandonProperty Type: Office BuildingPrice: $35,134,300Previous price: $24,376,100, August 2020Purchased by: CF Bass II LLCSeller: SPT Prairie 10501 Palm River Road LLCAddress: 10501 Palm River Road, TampaProperty Type: RetailPrice: $33,442,900Previous price: $28,603,600, September 2017Purchased by: Prince Hospitality 2 LLCSold by: Citrus Park Hotel DSTAddress: 12730 Citrus Park Lane, TampaFacility Type: HotelPrice: $23,800,000Previous price: $23,500,000, November…
June 7, 2024 Justin Jesso In this post on the hidden costs of solar power, I want to share some surprising experiences with solar power systems and some costs that are often overlooked. If you are considering adding a solar power system to your home or are dealing with a property that has solar panels, this information could save you a lot of headaches and money. I have purchased many homes with solar power systems and have encountered many issues that many people are not aware of. Video: The hidden costs of solar power The fiasco of seized solar power…
The industrial outside storage (IOS) sector has evolved significantly over the past 10-15 years, but many people still aren’t familiar with these unique locations. A panel of IOS investors shared their insights on the future of the sector at I.CON East, from investment cycles to acquisitions/disposals and when it will be considered an institutionalized product class. Moderated by Justin Horowitz, debt and equity broker at Cooper Horowitz LLC, panelists included CBRE Vice Chairman Ryan Bain, JPMorgan Asset Management Vice President Ryan Kavanaugh and Jadean Capital Managing Director Dan Szczynski. Key takeaways from their conversation include: There is plenty of room…
In a time marked by unprecedented disruption and rapid technological advancements, JC Renshaw, head of supply chain consulting at Savills North America, shared key challenges, emerging trends and predictions for the future at the I.CON East conference in Jersey City, New Jersey this week. “The biggest issue in the supply chain is labor,” Renshaw said. If a company doesn't have the labor to deliver their products, that's a big risk. Rising labor costs, retaining and compensating staff are all supply chain issues. Labor is a factor that can't be ignored and needs to be a priority in facility planning. Companies…
Onshoring and nearshoring activity is stimulating demand for manufacturing space and associated logistics facilities, Lisa DeKnight, managing director of national industry research at Newmark, said at I.CON East in Jersey City, New Jersey, this week. DeNight and Liz Berthelette, CRE, director of Northeast Research and National Life Sciences Research at Newmark, co-authored a report for the NAIOP Research Foundation on the impact of manufacturing growth in North America and shared key takeaways during the session. “Manufacturing is experiencing incredible growth and it's an exciting time to be in the industry. There's a major shift in where goods are made and…
Blazek Diagnostic & Automotive Repair leased 9,138 square feet at 3660 W Chinden Boulevard in Garden City. Andrea Nilson and Cory Perry of Summit Commercial Real Estate Group represented both the tenant and landlord in the transaction. Unitek College, LLC expanded its lease at 9300 W Overland Road in Boise from 25,383 square feet to 27,530 square feet. Sundance Company represented the landlord and CBRE represented the tenant in the transaction. Banner Street, LLC purchased 8,100 square feet at 3604 S. Banner Avenue in Boise. River Curtis of Cushman & Wakefield represented the buyer in the transaction, and River Curtis…
There's no denying that mortgage interest rates are having a major impact on today's housing market, which may leave some of you wondering if it still makes sense to sell your home and move. Here are three common questions you might ask and some data to help answer them. 1. Should I wait to sell? If you're thinking about waiting to sell until mortgage rates drop, as many others are, here's what you need to know. Mortgage rates are expected to fall later this year, but waiting until that happens could mean more competition as other buyers and sellers re-enter…
The life sciences industry has shown incredible resilience over the past four years since the pandemic hit. Encompassing sectors such as pharmaceuticals, medical technology, biotechnology and research and development, it has played a pivotal role in medical advancements, including the development of vaccines, therapeutics and innovative solutions such as at-home testing and mobile therapeutics. When it comes to CRE, life sciences requires “brick and mortar” facilities with ample space for labs, storage, and equipment, as well as employees. Given the need for medical device and pharmaceutical manufacturing facilities, the industry requires a variety of office and industrial space. And because…