Bronx landlord accused of rental discrimination:阿爱上海同城 lawsuit Housing nonprofit claims it ran successful sting against Hamdi Nezaj, who denies wrongdoing
The Fair Housing J上海千花网龙凤论坛 ustice Center is suing Bronx landlord Hamdi Nezaj, accusing him of discriminating among potential tenants on the basis of race and source of income. Nezaj told The Real Deal he is innocent of the charges.
The Financial District-based nonprofit claims to have sent several undercover workers, called “testers,” of various racial backgrounds and with various claimed sources of income to one of Nezaj’s rental offices.
According to the lawsuit, while Nezaj allegedly informed white 上海龙凤论坛sh1f testers of available units and offered tours, black testers were repeatedly told that no apartments were available, sometimes just minutes after the white testers had left.
In other cases, Nezaj all爱上海同城对对碰 egedly quoted significantly higher asking prices to black testers than those offered to white testers for the same units, according to FHJC’s complaint.
The group also claims Nezaj discriminated similarly against prospective tenants who claimed they would utilize rental assistance to pay for units. If proven, the landlord’s alleged behavior would violate the federal Fair Housing Act.
“I do not discriminate,” Nezaj told TRD. “I have black, I have Chinese, Japanese, Korean, Pakistani.” The landlord also claimed he rented units at his properties through a real estate agency, apparently contradicting FHJC’s claims that h[……]
WATCH: Gil Dezer on land banking for the next SoFla cycle Developer said most of his preconstruction units are sold, leaving him in a favorable position
You might know Gil Dezer as the developer of flashy South Florida condo towers with outlandish amenities like a 60-story car elevator. But his firm Dezer Development is also wrapped up in another business: land banking.
Dezer checked in with The Real Deal South Florida Managing Editor Ina Cordle at TRD s Miami Showcase and Forum to give an update on his current projects, and explain how h上海贵族宝贝交流区 is firm is positioning itself to take advantage of the next demand wave when it comes.
We are tremendous land bankers, he said. That s always been our business. We buy stuff to hold for the future.
The developer is under contract to buy roughly three acres of waterfront land from Publix in Sunny Isles Beach. The deal has at least two years left to close, giving credence to Dezer saying that his firm is in no rush to sell out thei上海千花网 r remaining projects and launch a new building.
Dezer is one of several major luxury developers who launched their projects earlier in the cycle when demand was still high, allowing them to sell out the majority of their preconstruction units, secure financing and begin construction. He said his Porsche Design Tower is slated to be completed within the six to eight weeks, Armani/Casa is more than 60 percent sold and still has 30 months to open, an爱上海龙凤419桑拿 d Hyde Midtown is more than 85 percent sold wit[……]
Obama上海千花网龙凤论坛 administration s new EB-5 bill could cool use of program by developers Under new proposal, investment thresholds would rise
A new proposal from the Obama administration may derail the real estate industry s EB-5 gravy train.
On Thursday, the administration proposed amending the EB-5 program to clamp down on reported abuses. If enacted, the suggested changes would likely have a cooling effect on developers ability to leverage the program to fund projects in wealthy areas of Manhattan, sources said.
EB-5 is a federal program that grants foreign investors green cards in exchange for a 上海贵族宝贝论坛 minimum investment of $500,000 in job-creating projects in the U.S. It’s become one of the most popular — and most controversial — fundraising vehicles for New York developers.
As part of the reform outlined in a draft bill by United States Citizenship and Immigration Services, the agency suggested raising the minimum amount investors would need to pump in to get a green card to $1.35 million, up from $500,000, for projects in areas with high unemployment. For projects in areas with average or low unemployment, they would have to invest $1.8 million, up from $1 million.
I don t think this goes anywhere, said Eric Orenstein, an attorney at Rosenberg Estis who has worked with developers raising EB-5 funds. The increase in the limits is out of line with anything that would be commercially feasible to any investor. It makes the entire program unmarketable.
In a bid to[……]
The Real Deal is heading back to Chelsea for our 10th annual New York City Real Estate Showcase and Forum!
On May 15, the city s industry professionals will flock to the Metropolitan Pavilion for a day of networking, learning and previewing the hottest new developments around town.
Click here to buy tickets
Former New York governor and developer Eliot Spitzer (Spitzer Enterprises), Ben Shaoul (Magnum Real Estate), John Catsimatidis (Red Apple Group), Toby Moskovits (Heritage Equity Partners), Dolly Lenz (Dolly Lenz Real Estate), Ryan Serhant (Nest Seekers International), Richard Ste上海龙凤论坛 inberg (上海贵族宝贝论坛 Douglas Elliman), Brenda Powers (Sotheby s International Realty) and Ellie Johnson (Berkshire Hathaway HomeServices) are among the real estate heavyweights that will participate on three informative panels:
The impact the Trump administration will have on the real estate industry: How protectionism, bank deregulation and changes to the tax structure will affect the NYC market
Looking at the post-peak luxury new development market: Selling in an increasingly competitive landscape
Gauging the commercial slowdown: Amid a shift in activity and broker reshuffling, what s next for the market?
To buy your tickets to the event, which will take place from noon to 6 p.m. at 125 West 18th Street, click here.
Fo上海夜网 r more information about sponsorship opportunities, contact Ross Fox at [email protected].
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City attorneys say landlords are speeding up eviction proceedings ahead of Inwood rezoning Shaul Koplowitz and Barberry Rose Management accused of trying to boot scores of stabilized tenants
Lewis Barbanel and Barberry Rose Management s recent Inwood acquisitions
As a proposed rezoning of Inwood that could bring beaucoups of new market-rate rentals looms, tenant attorneys at Manhattan Legal Services have identified two landlords who are allegedly trying to jump the gun and cash in on what some see as the inevitable rising property values in the area.
The attorneys, led by Rosalind Bl上海贵族宝贝 ack, allege landlords Shaul Koplowitz and Barberry Rose Management are attempting to boot rent-regulated tenants by filing eviction notices and non-primary residence claims in City Housing Court, Crain s reported. Although the landlords have dropped a handful of these cases once tenants definitively proved their home was indeed their home, there are still many other evictions pending.
“Investors are seeing an opportunity to buy up groups of buildings they have identified as having potential for increased rents,” Black told the publication. “And in the process they have been targeting some people who have been there for a long time.”
In a statement, Barberry Rose Management admitted to pushing for evictions but asserted they were justified, citing small number of tenants who seek to divert scarce housing resources for non-primary residence purposes.
Kop上海千花网 lowitz s management[……]
Here’s wh上海千花网论坛 at the $10M-$20M NYC investment sales market looked like last week Spruce 新上海贵族宝贝论坛 Capital buys on UES, Icon Realty in Greenwich 爱上海同城 Village
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As new supply hits the market, brokers claim they would rather be the second to list a property than take an overpriced listing
(Illustration by Øivind Hovland)
It’s one thing to land a listing, but it’s quite another to sell it. And that, in a nutshell, is the conundrum in Manhattan’s residential market these days.
Agents have now been navigating the softening sales landscape for nearly two years. The inventory crunch that defined the post-recession stretch has not only let up, but it’s also swung in the opposite direction.
For-sale properties have piled up, new developments are flooding the market and buyers are taking their pretty old time.
Brokers claim that the current atmosphere has made them more selective when it comes to which listings they’ll take on.
“Anytime there’s too strong a difference between the way the buyer and seller perceives and values the market, the agent is in a much more complex situation,” said Warburg Realty President Clelia Peters. “The agent is the interpreter of those sides.”
Related: Sealing deals and taking names
Amid this confused market, this month The Real Deal took a one-day snapshot of thousands of active listings on On-Line Residential in early January to determine which NYC brokerages had the greatest dollar volume of for-sale properties on the market. We then shared that information with the firms, most of which sent us deals to help fill in our findings. The goal was to get a window in the battleground for listings, the gateway drug to t[……]
The broker bots are coming: Firms using robots for house tours, client questions Robots take a lower commission
Zenplace robot giving a tour (Credit: Zenplace)
Your next apartment tour may be led by a robot.
Brokerages are turning to robots to handle tasks like property tours, videos and creating floor plans, the Wall Street Journal reported. Brooklyn-based VirtualAPT invented a robot that makes three-dimensional property videos, and counts Douglas Elliman and Stribling Associates among its clients.
REX, a brokerage based in California, has robots at each seller s property to answer questions and col上海千花网 lect information from prospective buyers. Zenplace, also based in California, has robots that allow agents to remotely lead clients on tours while projecting the human agent s face on the screen.
“It was a little weird,” said Laura Franco, who was led on a tou上海同城对对碰交友社区 r by a Zenplace robot. “It was like she wa阿爱上海同城 s there but she wasn’t there.”
Though many in the industry fear brokers will become obsolete as technology takes over tasks once performed by a human, Compass co-founder Robert Reffkin told the Wall Street Journal that he believes agents will always remain an important part of real estate deals. But new technology could disrupt how these deals are done. For instance, REX charges a 2 percent commission, compared to the typical 5 to 6 percent. The February issue of The Real Deal explored other technologies that could change the landscape.[WSJ] — Kathryn Brenzel [……]
CoStar is prepared to sic the lawyers on thousands of “freeloaders” CRE data firm is willing to go to court to prove that people aren’t paying for database access
Andrew Florance and 1331 L Street, NW in Washington, DC
CoStar Group, which brought its vast financial resources to bear in bringing the guillotine down on arch-rival Xceligent, now plans to go after “freeloaders” who access its database without paying.
Company CEO Andrew Florance said Co爱上海同城 Star “invested significant legal fees and efforts over the past two years” to bring Xceligent “to a complete stop.”
“We’re now turning our attention to identifying the many people using CoStar without a valid license,” he said on the company’s first-quarter earnings call Monday, according to a transcript on SeekingAlpha.
“We intend to find these freeloaders to strongly encourage them to purchase a valid license,” Florance said, adding he thinks there could be as many as 30,000 people who illegally access CoStar’s commercial real estate database.
Florance said that the vast majority of times, when CoStar confronts someone illegally using the company’s data, the offender concedes they were wrong and pays up. But he said the company is willing to litigate the relatively few cases that warrant legal action in order to make a point.
“Someone that is using CoStar illegally and producing reports and printing out photos, subjecting themselves to potentially hundreds of thousands of dollars of damages under the law,” he said. “So we think it[……]
Blackstone Group s Tony James wants more real estate His family office will focus on multifamily, industrial and office properties
Tony James and Bill Helm (Credit: LinkedIn)
The Blackstone Group s biggest business is its real estate division, so it s only fit上海千花网论坛 ting that the firm s vice chairman would look there when managing his own investments.
Tony James recently hired Bill Helm for the newly created role of head of real estate investments at Jefferson River Capital, a family office that invests on James鈥?behalf. Jefferson River has yet to make a real estate investment, Bloomberg reported.
The focus, initially, will be on multifamily, industrial and office properties in the Northeast and Southeast, the report said.
James鈥?wealth is estimated 上海夜网 at $2.5 billion and is spread across at least two family offices. His real estate holdings include a duplex on the Upper East Side that he bought in 2011 for $24.9 million. His Swift River Investments acquired the 34,000-acre Hamilton Ranch in Montana in 2011, Bloomberg said.
Before joining Jefferson River in May, Helm worked at DLJ Real Estate Capital Partners for about eight years. It was spun off from Credit Suisse Group AG in 2010. DLJ sold a 12-story Brooklyn Heights rental building in 2015 for north of $40 million, was an investor in Alloy Development s 1 John Street condo project and handled the conversion of the Jarmulowsky Bank Building on the Lower East Side into a boutique hotel.
Prior to his time at DLJ, Helm spent a c[……]