Mary Ann Tighe

Tighe, Gilmartin talk success in shark tank, testosterone -dominated NYC CRE The powerful pair spoke at a convention for women in CRE

MaryAnne Gilmartin, Mary Ann Tighe and Ric Campo, of Camden Property Trust, who 阿爱上海同城 阿拉爱上海同城was also a panelist

Tucked away in an album at Mary Ann Tighe s Southampton house is a 19-year-old paper napkin.

The napkin is from a lunch she had with her former boss in January 1997, when she asked what it would take to become vice chair of her then-company, Insignia ESG. According to Tighe, her boss took out a pen and drew on a napkin to demonstrate to her — in a fashion resembling how a football coach draws out the next play — the hierarchy of the company.

When he was finished, he explained, This is why it s never going to happen, Tighe said on Thursday during a conference for women in commercial real estate.

Two years later she proved him wrong and was named vice chair of the company.

Tighe , now the CEO of CBRE s New York division, told the story — now lore among women in the industry — during CREW Network s Convention Marketplace on Thursday at the New York Hilton Midtown上海贵族宝贝交流区 上海贵族宝贝论坛. During the event, she and others provided insight on how they have navigated what Tighe called the male-dominated, eat-what-you-kill culture of New York City real estate. She and MaryAnne Gilmartin, CEO of Forest City Ratner Companies, stressed that success lies in taking risks, having confidence and finding or shaping a work culture that fosters personal 上海千花网交友 上海千花网论坛growth.

Gilmartin also described her early days at Forest City. She said Bruce Ratner created a merit-based culture at the company but said there was ample room for improvement.

It was a shark tank environment there, early on, because there was a lot of testosterone, she said. Getting in there, staying in there, sticking with it, and rising based on my merits, allowed me to start to create a culture, a culture that might have been built and birthed by Bruce Ratner but certainly was shaped by those who followed.

She said changing a company s culture can be a Herculean task compared even to, say, building the (very controversial) Barclays Center.

Building a culture, while it sounds so simple, I would argue is more challenging than b新爱上海同城对对碰论坛 上海同城对对碰交友社区uilding a billion dollar arena, with 35 lawsuits and one Great Recession, which I have a lot of experience in, she quipped. I would say culture is challenging, culture is everything and it starts from the top.

Tags: mary ann tighe, maryanne gilmartin
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Brooklyn Home Prices

Home sale prices in BK, Queens hit new highs in Q4 Brooklyn median sales price rose 15% year-over-year to record $750K

50 Greenpoint Avenue 2C, a condo for sale in Brooklyn, and 27-28 Thompson Avenue 246, a condo for sale in Queens

Buyer demand for homes in Brooklyn and Queens continues to exceed supply, pushing prices in the boroughs to record highs.

The median sales price in Brooklyn hit $750,000 in the fourth quarter of 2016, which is an all-time record, according to Douglas Elliman’s latest quarterly report. That figure represents a jump of 15.4 percent year-over-year.

Inventory is also continuing to fall in the borough, dropping 31 percent year-over-year to a record low of 2,232. Jonathan Miller, CEO of appraisal firm Miller Samuel and author of the report, said that while sellers in Manhattan are only just now understanding the facts of the market, it’s a very different story in Brooklyn. Sellers there爱上海同城论坛 爱上海同城 are more realistic, he said, but the lack of inventory suggests many may be holding off listing their properties while prices continue to rise.

爱上海同城 爱上海

“The sentiment is that there’s a lot of upside left, he said of sellers in the borough. “The brand is changing in Brooklyn.”

Overall, the average sales price in the borough increased 17.3 percent to $947,333. The number of sales jumped 22.3 percent to 2,582. The median price of a Brooklyn condominium was $895,000 in the fourth quarter, compared to $727,500 in the same period of 2015. For co-ops, the median price in the borough was $385,00, a year-over-year rise of 6.9 percent from $360,000. For new development, the median price hit $1.1 million.

A separate report from the Corcoran Group found new development inventory in the region rose 96 percent year-over-year in the quarter.

“Under $2 million, we’re short on inventory. Under $500,000 we are very, very short,” said Frank Percesepe, Corcoran’s executive vice president of Brooklyn. “There’s a large group of people that would enter the market if there were property appropriately priced for them.”

It was a similar story in Queens during the fourth quarter, where prices jumped and inventory fell. The median sales price rose 6 percent year-ov上海龙凤论坛 新上海贵族宝贝论坛er-year to $498,000. The average sales price, meanwhile, hit a record $573,455, a 9.8 percent increase from 2015.

Meanwhile, the luxury median sales price increased 14 percent year-over-year to reach $1.2 million.

Miller said 阿拉爱上海同城 爱上海龙凤419桑拿demand from Brooklyn is spilling over into Queens.

“I don’t know why that wouldn’t continue, at least in the short and mid-term,” Miller said. “It’s a combination of proximit爱上海同城手机版 新爱上海同城对对碰论坛y to Brooklyn and lower price points.

Tags: brooklyn, Douglas Elliman, Queens
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Retail Real Estate

Coming soon: The Real Deal’s second National Retail Market Report Special supplement will be distributed at ICSC

With ICSC around上海龙凤论坛sh1f 上海龙凤论坛 the corner, The Real Deal is excited to announce the publication of our second National Retail Market Report!

In addition to rankings of the top brokerages and biggest buyers of retail real estate and their finan上海千花网交友 上海千花网论坛cing, the special issue will break down market conditions in the top 10 retail strips in the country. The market report, which will be distributed at ICSC, will also examine life after big box retail and include conversations wi阿拉爱上海同城 爱上海龙凤419桑拿th top 爱上海同城 爱上海leasing brokers.

If you can’t make it to Las Vegas, don’t fret — the National Retai上海龙凤论坛 新上海贵族宝贝论坛l Market Report will also be distributed to subscribers of The Real Deal magazine.

For advertising inquiries, call 212.260.1332 or email [email protected] Click here to check out last year s issue.

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Million Dollar Listing LA

Is bigger always better in real estate? This week, the brokers of “Million Dollar Listing Los Angeles” find out that may not always be the case.

One of the biggest listings of Josh Altman’s career is causing a big headache in h上海贵族宝贝论坛 上海贵族宝贝is personal life. Josh Flagg’s Rolls Royce and Rolex aren’t helping him sell a home in the Valley, while James Harris and David Parnes come to find that sometimes two listings aren’t better than one.

Here’s where we left off.

Baby blues
It looks like around-the-clock phone calls and pesky persistence actually impressed the sellers Eric and Ann, who ultimately acquiesce and award the Altman brothers the listing for Dovetail in Bradbury Estates. There is a condition, however. Josh and Matt must make themselves available 24/7 to do showings and field calls, complaints, questions and all of those fun things. Josh promises this won’t be a problem, which doesn’t sit well with his wife Heather, who’s going to give birth, like yesterday.

“I’m very happy to you and Matt got this listing, but I wanted you to do it on realistic terms,” she tells him. “This is so frustrating that you put this before us.”

Heather doesn’t have the time or patience to explain the importance of their unborn child. She’s off to meet Madison to iron things out before her life changes forever. The pair used to be close, until Heather co-listed a property with Josh and was unceremoniously fired by Madison over the phone. Madison said this was because he was emotional and afraid he was losing her. Six years later, they’re ready to bury the hatchet. Madison apologizes for cutting her out of his life, and Heather apologizes for throwing champagne on him.

“I think in protecting myself, I was hurting you more,” Madison says.

Heather receives a long-awaited apology

While Heather and Madison repair their friendship, Josh turns all of his attention to Dovetail. He knows everything must go right, which is why everything seems to go wrong. Upon arriving to the first open house, Josh and Matt find out that the event hasn’t been posted to the local caravan me上海龙凤论坛 新上海贵族宝贝论坛aning brokers in the neighborhood aren’t informed of the Nutella crepes being assembled at Dovetail!

Fortunately, Westside brokers are willing to make the 45-minute trek for crepes to see the listing, so they still manage a decent turnout.

Ye of the Valley
It’s time for Josh Flagg to go where no Beverly Hills broker has gone before: the Valley!

He meets with Karen, the developer behind a 6,000-square-foot Royal Oak estate reminiscent of a London townhouse. The house is a beauty, so Josh accepts the listing, though he’ll have to mingle with the locals in order to sell it for $5.65 million.

Only ye humble folk aren’t too keen on mingling with our Josh.

“The brokers are so f-cking weird, it’s like children of the corn,” Josh says.

Charming!

It’s only when James Harris offers him some sage advice that things start to snap into place.

“Roll up your sleeves, take off your tie, don’t show up in a Rolls Royce, a Rolex and $300[……]

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Scott Stringer

Bronx tenants who pay rent on time can build credit under new program Program is from Comptroll新爱上海同城对对碰论坛 上海同城对对碰交友社区er Scott Stringer and Banana Kelly

Scott Stringer and the South Bronx上海千花网 爱上海同城对对碰

Paying the rent on time will now give tenants at 27 South Bronx buildings a chance to improve or establish credit.

This is part of a new program that City Comptroller Scott Stringer and the Banana Kelly Community Improvement Association have launched, according to爱上海同城对对碰 爱上海同城论坛 Crain’s. Stringer estimated that 57 percent of renters with credit history across the city could boost their score by up to 10 points under the program, and 19 percent could see it go up even higher.

The program is a response to statistics showing that the city’s lowest credit scores tend to be in areas with large black or Hispanic populations and large amounts of public housing residents.

A total of 600 tenants will be able to take part in the pilot program, and Stringer said in a st上海千花网 爱上海同城对对碰atement to Crain’s that it “could ultimately be a game changer.” [Crain’s] – Eddie Small

T上海千花网交友 上海千花网论坛ags: Bronx, Politics, scott stringer
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Manhattan Luxury Market

Luxury market is back on its feet: Olshan Fourth straight week activity topped 20 deals

From left: Alchemy Partners K上海龙凤论坛sh1f 上海龙凤论坛enneth Horn, Carlyle Group s Robert Stuckey and a rendering of 250 West 81st Street; 993 Fifth Avenue (Credit: 250west81st.com, CityRealty)

Manhattan’s luxury market recorded 29 contracts at $4 million and above last week – the fourth week in a row contract activity topped 20 deals, according to Olshan Realty’s weekly market report.

The No. 1 spot went to a 12-room co-op apartment across from the Metropolitan Museum of Art at 993 Fifth Avenue with an asking price of $17 million. That’s a nearly 32 percent reduction off the original ask of $24.9 million when the unit was first listed in May.

The full 7th floor home has six bedrooms, 5.5 baths and a master suite facing the museum. The Met, meanwhi阿拉爱上海同城 爱上海龙凤419桑拿le, is considering selling its executive apartment on the buil爱上海同城手机版 新爱上海同城对对碰论坛ding’s 2nd floor as it look上海龙凤论坛sh1f 上海龙凤论坛s to shore up its unsteady finances.

Alchemy Properties and the Carlyle Group’s condominium dev上海贵族宝贝交流区 上海贵族宝贝论坛elopment at 250 West 81st Street accounted for the week’s second-priciest contract: the triplex penthouse at the Robert A.M. Stern-designed building with an asking price of $16 million.

The building quietly started selling units in the fall, and the buyer of the 4,278-square-foot penthouse bought the unit off of floor plans.

The week’s asking-price volume totaled $204.79 million, with a median asking price of $5.25 million. Luxury homes spent an average of 377 days on the market, with an average discount of 10 percent from the original ask to the final one. [Olshan Realty] – Rich Bockmann

Tags: alchemy properties, Carlyle Group, olshan realty, Residential Real Estate
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Anthony Galeotafiore

Long Island Cheat Sheet: Mineola named one of the hea爱上海同城 爱上海lthiest housing markets in the state more

Clockwise from top left: Bethpage developer is fined for filing omissions, Syosset sch爱上海同城 爱上海ools superintendent wants an environmental review of mixed-use development, defunct power plant to be redeveloped as a truck repair facility and local investors buy a Rockville Centre office complex for $22M.

Mineola is one of the healthiest housing markets in the state
Mineola ranked among the ten best housing markets in New York, according to a study by SmartAsset. The firm evaluated 160 communities across the state, based on the years owners spend in their homes, their value, ease of sale and cost of ownership. The study found that in Mineola, people stay in their homes for about 18 years and only 2.8 percent of owners have negative equity. Only about three percent of homes in the town lost value. No other Long Island markets broke the top 10. Number one on the list was Depew, New York, 10 miles east of Buffalo, Newsday reported. [Newsday]

Bethpage developer fined for condo filings omissions
Anthony Galeotafiore,上海千花网 爱上海同城对对碰 president of AJG Capital of Bethpage, has to pay at total of $166,000 for leaving out information in filings for condo developments in Copiague, Westbury and Islip Terrace, Newsday reported. His omissions include the disclosure of six mortgages he negotiated without a broker license, a 2003 sanction from the Financial Industry Regulatory Authority and a fraud dispute with a co-developer. [Newsday]

Syosset schools head wants environmental review of Oyster Bay mixed-use project
Thomas Rogers, superintendent for Syosset s schools, wants an independent review of a planned mixed-use development slated to go up next to one of the town s schools. Indianapolis-based Simon Property Group and Castagna Realty Co. plan to build 625 townhouses and condos, two hotels, a 30-acre park, stores, offices and re上海千花社区 上海千花网交友staurants on a site that was once an industrial plant and landfill. [Newsday]

Rockville Centre offices sold to Westbury investors
Valley East Properties, of Westbury, bought a five-story office complex in Rockville Centre for about $22 million, according to Long Island Business News. The 141,000-square-foot complex holds two buildings that together are 92 percent occupied by offices and medical tenants. With the sale, Valley East now owns more than 1 million square feet of offices on Long Island, according to a company statement. The Rochlin Organization s Adam Rochlin represented the buyer while the seller was represented by Jose Cruz and Kevin O’Hearn of HFF. Rochlin and his colleague Michael Levenstein will be the leasing agents on the property. [LIBN]

Costly former Bay Shore power plant to become truck repair facility
The former Hubbard Power Light plant has sat empty for 23 years, accruing about $6.5 million in tax liens over that time. Vincent Trapani, a Bay Shore businessman, bought the site for $343,000, in a transaction completed in February. The[……]

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Manhattan closed sales dropped nearly 21% in July

Manhattan closed sales dropped nearly 21% in July A weekly feature bringing you the industry’s latest intel

Manhattan (Credit: iStock)

According to this week’s market reports, Manhattan closed sales dropped 20.7 percen上海夜网论坛 上海夜网t in July and Harlem posted the highest price growth in Manhattan.

 

Residential

Rentals | MNS

In July, the average rent in Manhattan rose by 0.44 percent on a month-to-month basis to settle at $4,007. Harlem led the way in terms of price growth, with price上海龙凤论坛 新上海贵族宝贝论坛s in the neighborhood rising by 4.32 percent compared to same time last year. The biggest bargains were non-doorman one-bedrooms and non-doorman studios in Tribeca, which posted declines of 16.1 percent and 10.7 percent, respectively. Read the report here.

Sales | Maxwell Jacobs

The average asking price per square foot for Manhattan homes dropped 4.2 percent year-on-year to settle at $1,706 in July. Both the supply and demand sides上海夜网 阿爱上海同城 exhibited weakening during the month. Supply, measured through active listings, rose 13.3 percent from last year. Meanwhile, demand, measured through closed sales, dropped 20.7 percent on a year-on-year basis. There were 730 contracts signed in the borough, with Downtown the most robust at 203 transactions. Read the report here.

 

Commercial

Brownfield sites | NYU Furman Center

Brownfield sites are concentrated in certain areas of the city. Over 66 percent can be found in just ten community districts, with Greenpoint/ Willliamsburg accounting for 24.6 percent of the total sites in th上海千花社区 上海千花网交友e city. The study suggested a link between the remediation of brownfield sites and gentrification. However, it stopped short of declaring a causal relationship. According to the study, five out the 10 areas with the most brownfield remediation sites (Williamsburg/Greenpoint, Bedford Stuyvesant, Mott Haven, Astoria and Morrisania) are on the list of NYU Furman’s gentrifying neighborhoods.  Read the report here.

 

Tags: harlem, Manhattan Sales, mns, NYU
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Amazon Real Estate

Could Amazon break into real estate by buying Redfin? Redfin’s “troves of data” would be major benefit

Redfin CEO Glenn 上海龙凤论坛sh1f 上海龙凤论坛Kelman overlaid on Jeff Bezos (Credit: Getty Images and Redfin)

Amazon has a history of breaking into new industries with a splashy buy, having disrupting the grocery business with the $13.7 billion acquisition of Whole Foods. Should the company do the same to real estate by buying online brokerage Redfin? One analyst thinks so.

Jack Micenko, a housing and consumer finance analyst at Susquehanna Financial Group, make上海同城对对碰交友社区 上海夜网论坛s the case for such a move in a new report. Among the various benefits such a purchase would bring, Redfin s “troves of data is near the top of the list.

If you are going to buy your way into real estate, I don’t see a better option than Redfin,” Micenko told Inman. Redfin s data on consumers’ work history, wages, savings, real estate transactions, and relocation patterns would be a boon to the online retail giant, who could offer vast financial resources in return.

“Really both companies would be better together than they would be apart,” Micenko added. Both companies declined to comment, though Micenko says Redfin is aware of his sug爱上海同城对对碰 爱上海同城论坛gestion.

The analyst also said that buying Redfin competitor Zillow would be a less ideal move for Amazon, because the company uses data differently and has entrenched the st上海同城对对碰交友社区 上海夜网论坛atus quo around agent commission and agent leverage.

Redfin currently has a market capitalization of about $1.67 billion, more than 10 percent of which is owned by investment firm Vanguard Group.

Redfin CFO Chris Neilsen previously worked at Amazon for a decade, and the company hired Amazon economist Daryl Fairweather to head its data operations last fall.

Amazon has hinted at interest in the real industry in the past, teasing a Hire a Realtor feature on its website in 2017. The company also has a deal with Lennar, the country’s biggest homebuilder, to include Amazon Alexa in its new homes, and has invested in pre-fabricated home startup Plant Prefab. [Inma爱上海同城论坛 爱上海同城n] Kevin Sun

Tags: amazon, Data, redfin, Residential Real Estate, Tech
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