Mayor Bill de Blasio

Mayor does favors for developers, say 55% of NYC voters: poll Most o爱上海同城手机版 新爱上海同城对对碰论坛f those surveyed said his actions are unethical, but not illegal

A majority of New York City voters in a recent survey said they think Mayor Bill de Blasio is unethical and hands out favors to those who donate to his campaigns.

A full 55 percent told Quinnipiac pollsters they agreed that the mayor “does favors for developers who make political contributions to campaigns in which he is involved,” Politico reported.

The poll found majorities of voters in all demographic groups surveyed agreed with the statement.

Still, 54 percent said they found the mayor’s actions to be merely unethical, not illegal. In general, 86 percent of voters survey said corruption in the city was a “very serious” or “somewhat serious” problem.

De Blasio and his admin爱上海同城对对碰 爱上海同城论坛istration have become embroiled in a variety o爱上海同城 爱上海f controversies in recent months, including ties to上海夜网论坛 上海夜网 real estate investor Jona Rechnitz of JSR Capital, who is the subject of a federal corruption investigation, and the decision to lift a deed restriction at 45 Rivington Street on the Lower East that allowed the former nursing home to be sold to by the Allur爱上海 爱上海同城手机版e Group to condominium developers Slate Property Group, Adam America Real Estate and China Vanke for a hefty profit.

The mayor’s approval rating stands at 41 percent, according to another Quinnipiac poll released earlier this week. [Politico] – Ariel Stulberg

Tags: bill de blasio
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DraftKings NYC

Game on! Cuomo signs bill allowing FanDuel, DraftKings to legally operate in NY Fantasy sports startups shut down operations in March despite opening new offices in city

From left: 300 Park Avenue South and 400 Lafayette Street (inset: Andrew Cuomo)

Gov. Andrew Cuomo on Wednesday signed legislation that legalizes the controversial fantasy sports websites and puts them under the watchful eye of the state Gaming Commission, the New York Daily News reported.

Daily fantasy sports have proven to be popular in New York, but until now have operated with no supervision and no protections for players, Cuomo said in a statement.

In March, FanDuel, DraftKings and Yahoo shuttered their daily fantasy sports operations in New York after State Attorney General Eric Schneiderman accused them of violating the state’s gambling laws.

爱上海同城对对碰 爱上海同城论坛

Schneiderman said he would “enforce and defend” the new law, but plans to proceed prosecuting claims of false advertising and consum上海千花社区 上海千花网交友er fraud against the companies.

FanDuel in January said it would stay put at its 41,000-square-foot office at Rockrose Development’s 300 Park Avenue South. Boston-based DraftKings decided to sublease its 23,500-square-foot space at Alvin Flaster’s 400 Lafayette Street.

As of June the two companies were in talks to merge with each other.

New York is the eighth state to clarify its laws on the legality of daily fantasy sports since Ja上海贵族宝贝 上海千花网龙凤论坛nuary.

FanDuel CEO Nigel Eccles touted the new law as a “capstone achievement” for his industry.

“With the future of fantasy sports affirmed in New York we expect our legislative momentum will only accelerate as more states address the issue,” he said.

Under the new rules, the websites will have to obtain licenses from the state and pay a tax equal to 15 percent of gross revenues after prizes have been taken上海贵族宝贝交流区 上海贵族宝贝论坛 out, as well as an additional .5-percent tax to pay for the licensing fee. [NYDN] – Rich Bockmann

Tags: 300 park avenue
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Vneshprombank

Russian bank Vneshprombank files for bankruptcy as threat of NYC real estate seizure looms Head of financial institution allegedly stole $13M and bought multiple pricey Manhattan condos

From left: 40 Broad Street, 10 West End Avenue (credit: Brown Harris Stevens) and at 50 Riverside Boulevard

Vneshprombank, a Russian VIP bank that held accounts for prominent Russian companies, oligarchs and bobsledders, has filed a U.S. bankruptcy proceeding in 上海千花社区 上海千花网交友a bid to 上海千花网龙凤论坛 上海千花社区protect against claims on its New York real estate.

The head of the bank, Larisa Markus, is accused of stealing about $13 million from the financial institution and using it to buy New York City real estate, including several apartments at the Setai condominium at 40 Broad Street, at 10 West End Avenue and at 50 Riverside Boulevard, under a series of corporate entities.

Those companies then allegedly pledged half of their real estate as collateral for loans taken in 2015 and 2016.

The Chapter 15 filing is designed to prevent claims on the real estate by other parties while an ongoing investigation by Russian authorities into Markus alleged scheme wraps up.

It makes sense for the New York real estate to be available for all of Vneshprombank s creditors, not just ones in the U.S. or those that have commenced specific litigation, said bankruptcy expert Adam Stein-Sapir of Pioneer Funding Group, who is not involved in the case.

The Russians are looking into allegations that Markus and her accomplices allowed the bank to enter into lending agreements with affiliated companies that had no intention of ever repaying their loans. She is also alleged to have transferred bank assets directly to her family members. The cost of the alleged fraud is currently estimated at $13.5 million, though authorities expect that number will rise上海千花社区 上海千花网交友 significantly as the investigation continues, according to the bankruptcy filing.

Markus brother Grigorii Bedzhamov, the president of Russia’s national bobsled federation, is alleged to have played a part in the scheme. He fled from Russia to Monaco, where he is seeking asylum, the filing says. Markus was arrested and charged with large-scale fraud in December 2015. In March 2016, the Central Bank of Russia declared the bank insolvent.

There have already been claims. Earlier this year, a Panama-registered company Panabroker filed suit against Vneshprombank, dema新上海贵族宝贝论坛 上海贵族宝贝交流区nding that the bank repay $1.57 million in loans it provided in 2001. It claimed the money could come from the sale of Markus爱上海龙凤419桑拿 上海龙凤论坛sh1f real estate assets.

There are currently three units at the Setai owned by entities affiliated with Markus, according to the filing. She allegedly bought #24C for $474,102, unit #23H for $1.13 million and #20A for $781,253 in 2011.

Tags: 40 broad street, one riverside park
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Don’t sell your house right now, Hamptons brokers warn

Hamptons brokers told homeowners to hold off on s爱上海龙凤419桑拿 上海龙凤论坛sh1felling at a r阿拉爱上海同城 爱上海龙凤419桑拿eal estate panel in the East Hamp爱上海同城论坛 爱上海同城ton Library last week. “We’re entering the third year of a slow cycle,” Peter Turino, the president of Brown Harris Stevens in the Hamptons said. “There’s a shortage of buyers and a lot of overpricing. Prices must come down.” On average, it’s taking about 29 months to sell a home, Diane Saatchi of Saunders Associates added. But it’s not all bad news. Turino told the crowd that th爱上海同城手机版 新爱上海同城对对碰论坛e sales slump should end by next summer, the East Hampton Star reported. [EHS]

Tags上海千花网论坛 上海千花网: Hamptons
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Sag Harbor Assemblyman proposes real estate transfer tax to help first

Sag Harbor Assemblyman proposes real estate transfer tax to help first-time homebuyers

State Assemblyman Fred W. Thiele Jr., who represents the South Fork and Shelte上海夜网论坛 上海夜网r Island, introduced legislation that would fund loans to low-income first-time homebuyers through an additional half-percentage tax on luxury property transfers. Residents or workers in East Hampton, Southampton, Shelter Island, Ri上海千花网龙凤论坛 上海千花社区verhead, and Southold who make less than $132,960 would be eligible for the loans. South Fork and Shelter Island homes valued at $1 million or less, and North Fork爱上海同城 爱上海 houses valued at $750,000 or less would be 上海千花网交友 上海千花网论坛exempt from the additional tax. Thiele told the East Hampton Star the tax would raise an estimated $15 million to $20 million per year, 上海龙凤论坛sh1f 上海龙凤论坛mostly from home sales in Southampton and East Hampton. [EHS]

Tags: Hamptons
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New York Wheel

The New York Wheel’s demise marks one of the largest EB-5 failures ever The project was plagued by cost overruns and infighting

A rendering of the New York Wheel (Credit: Perkins Eastman)

The New York Wheel is officially dead, putting an end to an ambitious project that was marred by years of delays, cost overruns and infighting.

Project spokesperson Cristyne Nicholas announced the decision on Tuesday. The news was first re爱上海同城 爱上海ported by the Staten Island Advance.

“After years of planning, the developers of The New York Wheel announce, with great disappointment, that the dream of building a world class attraction in Staten Island will unfortunately not come to fruition,” Nicholas said in a statement.

Former New York City Mayor Michael Bloomberg first unveiled the idea for a massive Ferris wheel on Staten Island in 2012, and the project quickly became a magnet for EB-5 immigrant investors working through regional center Canam Enterprises. The project ultimately attracted 412 investors on a $206 million loan that was set to mature in 2021, according to Canam’s website.

This makes the New York Wheel one of the largest EB-5 failures in the program’s history. The fraud scandal over the Jay Peak Resort in Vermont was over a similar amount.

Canam said in a statement to the Advance that the company believes the costs incurred by the project to date still meet the job creation requirements to grant its investors unconditional permanent residency in the United States.

“Canam, just as it always has in the past, will see our investors through their respective immigration processes,” president and CEO Tom Rosenfeld said. “This project came very close to completion and爱上海同城 爱上海 had already fulfilled all requirements as defined by the EB-5 program.”

Reaz Jafri, a partner and head of immigration at the law firm Withers Bergman LLP, said the failure of the New York Wheel could serve as a cautionary tale for EB-5 investors.

This may be a kind of sad reminder to EB-5 investors that, when it comes to choosing a development, think long and hard about what you invest in, he said Real estate is very funny. If you see a 40 story commercial tower going up in Manhattan, it’s pretty safe. A concept developing in Staten Island, not so much.

The project initially had an expected completion date of 2016 and an expected price tag of $450 million, but this number later ballooned to about $900 million. Work at the project came to a halt last year after the contractor Mammoet-Starneth walked off the site amid claims that the soil would not support the wheel.

The developer fired them soon after, and Mammoet-Starneth then filed for bankruptcy in December. In May, the two parties reached an agreement that gave them 120 days to find a way to move forward on the project and ultimately determined that the project would have a final deadline of Jan. 7, 2019 to get on tr上海千花网龙凤论坛 上海千花社区ack.

However, by late September, investors Lloyd Goldman and Jeffrey Feil said they were close to giving up on the New Yo[……]

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Los Angeles Property Values

Ranking the hottest hoods in L.A. From dense multifamily properties and glitzy spec homes to industrial hubs, the neighborhoods seeing spikes in property value growth are bursting with investment

(Illustration by Daniel Gray Barnett)

Having welcomed a wealth of investment over the last several years, Los Angeles continues to enjoy a development boom, with investors sniffing out every corner of the county in search of the next big opportunity.

Using da上海夜网论坛 上海夜网ta from the Los Angeles County property appraiser, The Real Deal analyzed historical residential and commercial property values to find out which enclaves have seen the steepest recent growth relative to how fast property values had increased in each area over a longer period. That heightened growth rate signals that investments and sales are picking up fast. To determine which neighborhoods made the cut, TRD looked at the average growth rate in assessed property values between 2011 and 2017 as compared to the jump between 2016 and 2017. The 2017 numbers, published in the summer of 2018, are the most recent assessments available.

While perennially attractive areas like Beverly Hills and Downtown L.A. still garner big trades and developments, the analysis found that those areas have plateaued in terms of the rate of growth. The neighborhoods that have seen the biggest increases exemplify how diverse the demand is in L.A. County, since each area’s evolution was driven by a different kind of development, whether sprawling industrial space, surging office space or, as is the case in Bel Air, a proliferation of ultraluxury spec homes. The following is a look at what each of these areas has cooking, ranked according to the 上海千花网 爱上海同城对对碰acceleration in growth between 2016 and 2017 versus the seven-year average.

1. City of Industry

True to its name, the 12-SQUARE-mile City of Industry along Route 60 is zoned almost completely for industrial use. It has become a major hub for logistics and manufacturing 上海千花社区 上海千花网交友firms. The municipality is home to thousands of businesses and jobs, but fewer than 300 residents.

TRD’s analysis shows Industry’s total property value in 2011 was $5.6 billion. From 2011 to 2017, property value grew in the area at an average rate of 5.4 percent, but from 2016 to 2017, the rate of growth spiked, with property values growing nearly 13 percent over one year. In 2017, the area’s total property value was $7.6 billion.

City of Industry

The vacancy rate for industrial space in the San Gabriel Valley was 2.1 percent in the second quarter of 2018, according to a JLL report. That has driven up sales prices for some of the older sites on the market. Last year was the first year that rent growth for industrial space outpaced all other commercial sectors in the city, according to real estate platform Ten-X.

Asking prices in the City of Industry shot up over the last year to $215 per square foot from $130 per square foot, according to a report this year from Lee Associates. That’s thanks in part to incre[……]

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NYC Shop Sign Complaints

Inside job? Person anonymously terrorizing small business owners with 311 could be DOB employee City Councilman Justin Brannan issued a letter to the city’s Department of Investigation

Justin Brannan (Credit: Marketplace)

Updated, January 24, 2019 at 1.44pm: For months, small business owners across the city were on high alert for an avalanche of complaints b新爱上海同城对对碰论坛 上海同城对对碰交友社区eing made against unauthorized signs on their shopfronts. Who was responsible, and why, remained a mystery.

But a theory has emerged. City Councilmember Justin Brannan, issued a letter this week to the NYC Department of Investigation, pointing to a city employe上海同城对对碰交友社区 上海夜网论坛e as the possible culprit behind a scam.

The scandal erupted after a December report 上海贵族宝贝论坛 上海贵族宝贝revealed that almost 1,900 complaints were filed for illegal signage last year. In Brooklyn, were the majority of the comp爱上海同城手机版 新爱上海同城对对碰论坛laints were made, more than 200 calls about unauthorized signs were made to the city in November, up from 23 during the same month in 2017.

Following the report, the Awnings Act was passed this month to place a two year temporary moratorium on shop and awnings violations waiving any fees temporarily.

Brannan s letter, which was first reported by Bklyner, states that a small business in Bay Ridge, which his district covers, reported a man wearing a Department of Buildings jacket arrived at the business and told the shop owner that he was aware the building had a shop sign violation issued against it. The purported DOB employee, who allegedly showed an ID card, then gave the shop owner the name of a sign business that would legally install a sign, and make it right.

The business owner was unaware that a violation had even been issued against the shop, according to the letter. To hang signs and awnings in the city, installers must hold city-issued special permits to do so, and sometimes shop owners are unaware that a sign was hung by an unaccredited business. The theory, Brannan writes, is that the purported scam has been orchestrated by a sign business with proper licensing, and conducted with a city buildings inspector.

The Department of Buildings said it had referred the matter to the city s Department of Investigation. “Council Member Brannan brought this allegation to our attention last week and we referred him to DOI for an investigation of the matter, incl阿拉爱上海同城 爱上海龙凤419桑拿uding the possibility that someone may be impersonating a DOB employee. We very much welcome a full DOI review,” agency spokesperson Andrew Rudansky said in a statement. [Bklyner] David Jeans 

Tags: Commercial Real Estate, Retail Real Estate
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Bill de Blasio

De Blasio pushes for $173M portfolio deal with controversial landlords.上海夜网 阿爱上海同城 Their lawye阿爱上海同城 阿拉爱上海同城r raises money for the mayor. La上海龙凤论坛 新上海贵族宝贝论坛wyer Frank Carone, who represents the Podoslky brothers, is a longtime de Blasio ally

Mayor Bill de Blasio and Frank Carone (inset) (Credit: Getty Images and Abrams Law)

The city this week is expected to close on a $173 million deal to purchase 17 buildings and convert them into affordable housing. But watchdogs and public officials say the deal raises questions about conflicts of interest and a lack of transparency.

The de Blasio administration opted to buy the buildings in Brooklyn and the Bronx two years ago from the Podolsky brothers, two landlords with a long record of violations who are currently under federal investigation for tax fraud. And the lawyer who represented them in the portfolio sale to the city is Frank Carone, is a longtime de Blasio ally and fundraiser.

Initially, the total value of the buildings was estimated at about $50 million, the New York Times reported. A private appraiser later estimated it at $143 million. City officials said the price rose during the course of negotiations with the Podolsky brothers, who run Amst爱上海同城 爱上海erdam Hospitality Group.

Amid the negotiations, Caron donated the maximum $5,000 to the mayor’s federal political action committee, Fairness PAC, which he’s using to explore a presidential run. Heading in to the closing of the deal, Carone also solicited other donors. Both de Blasio and Carone said they had not discussed the real estate deal.

City comptroller Scott Stringer wrote to the mayor’s office in March, asking to see the appraisals but was told that the city’s policy was not to release them — because the information could affect future negotiations.

The mayor’s press secretary, Eric Phillips, said de Blasio’s ties to Carone didn’t influence the deal.

“This deal is about improving and securing affordable homes for 2,000 people,” Phillips said in a written statement. “The personal political activity of one of the many lawyers involved never entered into the equation.”

Referring to the mayor, he added, “They’ve never spoken about any details of the deal.”

Carone, a lawyer at Abrams Fensterman and counsel to the Brooklyn Democratic Party, said that it made sense for him to represent the Podolskys because he had known the “family for more than 30 years.”

For years, hundreds of the apartments in the Podolskys’ buildings have been used by the city to house homeless fam新爱上海同城对对碰论坛 上海同城对对碰交友社区ilies, as part of the porous and controversial cluster-site program. Under the deal, nonprofit groups will convert them to permanent affordable housing and own and operate them. [NYT] — Meenal Vamburkar

Tags: affordable housing, bill de blasio, Politics
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