NYU Buys 12th Street Building for $134 Million

February 7, 2010
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The New York University has bought a 190,000 square-foot building at 120 East 12th Street in Greenwich Village for $134 million – estimated a year into its 30-year lease with Hudson Companies, according to a tip from PropertyShark.com.

The school had been using the East 12th Street Hudson-owned building called Founders Hall, with whom the school had designed the 26-story structure, as a 733-bed dormitory. NYU plans to continue to use it for that purpose, said John Beckman, a school spokesperson.

The deal, which closed Jan. 21 and was filed with the city two days ago, comes on the heels of the school’s $65 million purchase of the Forbes building at 60…

This Summer Watch Out for the James Hotel

January 15, 2010
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A new hotel will rise this summer!

The James New York, part of a new boutique chain owned by Denihan Hospitality Group, is scheduled to launch this summer, one of several hotels opening in the city this year regardless of the struggling commercial real estate market.

The room rates in the soon to open 20-story, 114-rom hotel will start at $229. The hotel will be located on the corner of Grand and Thompson streets in Soho. The third-floor lobby will have views of LentSpace – a public art park across the street and the roof will feature a pool and lounge. The James is also planning a restaurant with a yet-to-revealed celebrity…

Huge NYC Housing Complex Overlooked Payment

January 14, 2010
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The organization that compensated a record $5.4 billion for two f New York City’s biggest apartment complexes is having money troubles.

It was not able to make a full $16 million loan payment that was due Friday, according to Tishman Speyer and BlackRock Realty – group leaders.

The companies said that the missed payment would not affect the 25,000 lessees of Stuyvesant Town and Peter Cooper Village in Manhattan.

Analysts have been expecting the group to default on the loan for several months.

The group bought the complexes in 2006 in the nation’s largest real estate deal. Since then, the city’s housing market has cooled significantly.

The partnership says it is trying to restructure debt.

The Five Essentials of Commercial Real Estate Success

December 29, 2009
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Everyone tends to forget the basics in favor of the “flavor of the month”. Here are the five essentials of commercial real estate success (randomly listed):

1. Show Up

- Give a number of hands that can affirm that they show up everyday ready for work. This one is so simple. Show up professionally dressed ready for work. Of course, you will have to dive in and actually take action steps in order to accomplish something.

2. Return All Calls

- Some only pick and choose the ones they suppose are important, some simply ignore all calls figuring if it’s important the caller will try and call again and some only return all calls…

The Benefits of Commercial Property Investment

December 28, 2009
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Ever wonder if there are benefits in commercial property investment?

One should determine that something can be done – Abraham Lincoln.

It is true that commercial property investment is different from residential property investment - but certainly not as complex as commonly perceived.

Here are the benefits in greater details.

Increase return on investment by maximum usage

There are many ways you can maximize usage of your commercial property - especially with shop-offices - to generate more rental income and increase your return on investment.

Higher rental returns in terms of quantum and frequency

By investing in the shop-office, we only need to collect rent from one tenant instead of from four different tenants even if condominiums…

The Three Indicators on When to Invest in Commercial Real Estate

December 23, 2009
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In the U.S., there are over $800 million in commercial loan renewals are coming due in the next three years. Northern California is one of the most desirable and inelastic markets in the United States, the value of commercial real estate has dropped between 25-50 percent.

Here are three indicators that potential investors should be conscious of when investing in real estate.

* The first is interest rates start to increase. The US Fed has eliminated the cost of funds for banks to borrow from the Fed; this in turn is supposed to positively encourage lending while keeping interest rates for the average borrower to a minimum. This is working, but once…

Get The Momentum As A Commercial Real Estate Investor - 3 Tips

December 12, 2009
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Apartments and commercial real estate are exciting business you can invest on. This venture can create cash flow for your bank account for the rest of your life.

Though, many starters find it hard to get started. Then once they have started, they find it difficult to uphold the drive in their additional investments.

Why don’t you check out the three quick tips listed here?

Here are three Quick Tips:

1. Sit down and write three things you would want to achieve as a commercial property owner or investor. It is vital to note that there are no wrong answers.

2. After you have completed this, write down three objectives in terms of specific property…

Commercial MBS Delinquencies Increase in the Third Quarter

December 9, 2009
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As residential foreclosures get most of the publicity, the delinquency rates for mortgages in the commercial sector are definitely increasing, this is according to the data released by the Mortgage Bankers Association (MBA).

MBA’s Commercial/Multifamily Delinquency Report tracks commercial delinquencies amid the five investor group; each has delinquencies in its own way. Thus, rates are not comparable from one group to another.

In the third quarter the 30+ day delinquency rate for the loans are held in the commercial mortgage-backed securities (CMBS) increased .17 percentage points up to 4.06 percent throughout the third quarter. Life insurance companies held mortgages that are 60 or more days delinquent were up 0.08 percentage points to…

NET – The Three-Letter Word for the Commercial Property Investors

December 7, 2009
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People usually make a huge mistake when investing into commercial investment property. They tend to forget a simple thing and that is the word NET and it is not the Gross.

Here is a simple equation: take the total rents and other income, then subtract the total expenses and the result will be the Net Operation Income (NOI). This is the only that defines the value of the investment property.

There are also other benefits of being a commercial property investor. These are loan principal reduction and property appreciation. There are also tax advantages in owning a commercial building through depreciation that depends on your tax circumstances. These benefits are surely great…