未分类

Cammeby’s International

Schron destroying Trump Village store to make way for Coney Island tower, suit says Clothing chain DII says its lease doesn’t expire for 7 years

Rubin Schron s Cammeby s International is destroying a discount store at Trump Village Shopping Center to make way for a rental tower in Coney Island, a new lawsuit claims.

Clothing chain DII, operated by Dee Dee, alleges that Cammeby s has violated the terms of its lease by trying to kick it out of the Neptune Avenue location. The store s lease doesn t expire for another seven years, but the developer has already started construction around the store, the lawsuit states. A 40-plus-story tower is planned for the store s location, at 532 Neptune Avenue, though demolition permits have not yet been filed.

Construction has already disrupted the day-to-day operations of plaintiff s retail store and damaged plaintiff s irreplaceable customer goodwill, the lawsuit claims. The store contends that matters will only get worse, that the developer will gradually ramp of construction and the current disruptions are “merely the tip of the proverbial iceberg, a small indications of epic and massive disruptions that inevitably must follow.

A spokesperson for Cammeby s, Christa Segalini, said that the company is also developing an office building nearby where the shopping center s existing tenants will be able to continue busi爱上海 爱上海同城手机版ness.

We have gone above and beyond standard development practice, she said. As the result of a carefully aligned construction schedule, we are able to ensure that no tenant will need to relocate from its current space until the new site is ready. But unfortunately, DII has decided that it would rather litigate than continue working together with the mutual goal of meeting the community s needs.

DII is seeking $75 million in damages.

The shopping center is located near the housing complex by the same name, which was built by Donald Trump s father, Fred Trump. Cammeby s bought the shopping complex in 2013 for $25 million, property records show. The tower planned for the site is expected to have 544 apartments and 162,000 square feet of new retail 爱上海龙凤419桑拿 上海龙凤论坛sh1fspace.

The project has faced some opposition from residents as well as City Comptroller Scott Stringer, who have argued that the tower — which will be the tallest in its neighb新上海贵族宝贝论坛 上海贵族宝贝交流区orhood — will be out of step wi上海夜网 阿爱上海同城th the character of the neighborhood. The developer is also planning a four-story commercial building nearby with community space.

In October, The Real Deal delved into the state of Schron s business. His two sons, Avi and Eli, are shap爱上海同城 爱上海ing the company by embarking on increasingly ambitious ground-up construction projects.

Tags: cammeby’s international group, coney island
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.

[……]

Read more

未分类

Chinese Real Estate Speculation

7 Chinese cities just cracked down on residential speculators Beijing and other cities 阿爱上海同城 阿拉爱上海同城dramatically increased down payment requirements

Beijing

Local Chinese g爱上海同城对对碰 爱上海同城论坛overnments just made it tougher for millions of citizens to buy homes, in an attempt to stop excessive speculation.Governments in seven Chinese cities have just introduced measures raising down-payment requirements for first and second homes, and ruled some potential buyers ineligible, according to Bloomberg.

Sichuan’s provincial capital Chengdu and Henan’s provincial capital Zhengzhou have banned third home ownership in some areas. Wuxi, a southern city close to Shanghai, raised down-payment requirements for second homes to a minimum of 40 percent from 30 percent previously, according to Bloomberg.

And China’s capital city Beijing has increased down payments for first-time purchasers to a minimum of 35 percent上海夜网 阿爱上海同城 of the selling price. In nearby Tianjin non-locals are now banned from buying second properties.

And Shandong’s provincial capital, Jinan, also increased down-payment requirements, according to the Xinhua New爱上海同城手机版 新爱上海同城对对碰论坛s Agency. [Bloomberg] –Christopher Cameron

Tags: china
We are having some technical difficulties. Tr爱上海 爱上海同城手机版y again later.

By clicking Subscribe you agree to our Privacy Policy.

[……]

Read more

未分类

Donald Trump Infrastructure

“We don’t have a president, we have a king”: Joe Sitt Thor爱上海同城论坛 爱上海同城 Equities head claims Trump can pull off infrastructure boost

Thor Equities’ Joseph Sitt predicts Donald Trump will be able to pull off a major infrastructure spending plan because unlik爱上海同城 爱上海e President Obama he has Congress on his side. “We don’t have a president, we have a king,” Sitt told Bloomberg.

“He won’t have the bottlenecks along the way” because he will have the Senate and House of Representatives on his side for at least two years, Sitt argued. “And so he’s got a window of opportunity to really make things happen.”

Sitt claimed that not spending more on infrastructure seven years ago as a post-recession economic stimulus was a lost opportunity an爱上海 爱上海WIFId that many developing countries now have more advanced transportation systems than the U.S.

Still, he dismissed the suggestion that now is the wrong time to spend big. “Don’t tell him slow down. Tell him go for it,” he said. [Bloomberg] Konrad Putzier

Tags: Donald Trump, infrast上海龙凤论坛 新上海贵族宝贝论坛ructure, joseph sitt
We are having some technical difficulties. Try again later阿爱上海同城 阿拉爱上海同城.

By clicking Subscribe you agree to our Privacy Policy.

[……]

Read more

未分类

Priciest Apartments Manhattan

Here are the week’s top luxury s新上海贵族宝贝论坛 上海贵族宝贝交流区ales An interactive look at where the biggest deals were struck, pl新爱上海同城对对碰论坛 上海同城对对碰交友社区us total overall sales and average prices for the 阿爱上海同城 阿拉爱上海同城week (click on numbers爱上海同城手机版 新爱上海同城对对碰论坛 to see data)
We are having some technical di新爱上海同城对对碰论坛 上海同城对对碰交友社区fficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.

[……]

Read more

未分类

China’s European Property

Here s how m新爱上海同城对对碰论坛 上海同城对对碰交友社区uch China s spent on its European RE portfolio over the past 10 years Entities with links to the state have bought almost $24 billion worth of property in the European Union over the past decade.

(Credit from left: The Kremlin, TASS)

Over the past decade, China s r新爱上海同城对对碰论坛 上海同城对对碰交友社区acked up about $318 billion worth of investments in European assets, and it s starting to make the European Union wary.

In terms of its real estate holdings, Chinese entities have invested $23.9 billion in property across the EU since 2008, according to a new audit conducted by Bloomberg of China s investments in Europe. Of the decade-long total of $318 billion, about 63 percent of the investors behind the deals were either backed by the Chinese government or state investment funds.

French president Emmanuel Macron and German Chancellor Angela Merkel advocate investment screening in the face of the deluge of deals by upwar新爱上海同城对对碰论坛 上海同城对对碰交友社区d of 670 companies either owned directly or linked to the Chinese government, according to Bloomberg, but some countries are opposed claiming such measures will deter other investors.

Bloomberg singled out London as the prope上海同城对对碰交友社区 上海夜网论坛rty market where Chinese real estate moves is most readily apparent, particularly in the office market. The audit found that there has been 45 percent more investment activity by Chinese companies acro新爱上海同城对对碰论坛 上海同城对对碰交友社区ss all sectors in Europe than in the U.S.

The review of Chinese companies and state holdings in Europe comes as authorities in China are cracking down on real estate investments outside the country with companies starting offshore investment funds or selling off their portfolios to avoid getting caught in the cross hairs. [Bloomberg] Erin Hudson

Tags: china, Commercial Real Estate, European Real Estate
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.

[……]

Read more

未分类

Navillus

A federal judge ordered Navillus to pay unions $76M. Here s why the contractor is only paying $26M Deal will allow 阿爱上海同城 阿拉爱上海同城the company to exit bankruptcy

In a deal that wil上海夜网论坛 上海夜网l allow Navillus to exit bankruptcy, the concrete c爱上海龙凤419桑拿 上海龙凤论坛sh1fontractor will pay less than half of the $76 million settlement that a group of construction unions won against the company last year.

If its reorganizat阿爱上海同城 阿拉爱上海同城ion plan is approved, Navillus will pay five unions a total of $25.7 million — a significantly lower sum than the group was granted in September, when a federal judge ruled that the contractor cheated the unions out of pension fund contributions. A confirmation hearing for the plan is slated for Oct. 5, according to court documents.

Navillus announced last week that it had reached a deal with the unions to toss the $76 million judgment, which had forced the company into bankruptcy in November. At the time, details of the agreement weren t made public.

Though the new sum is a deep discount from the original settlement, court documents filed in federal bankruptcy court on Friday note that the alternative was lengthy and expensive litigation that would likely result in a significantly reduced and delayed distribution to unsecured creditors. The unions were among the top 20 unsecured creditors, and collectively had $150 million dollars in claims against Na新爱上海同城对对碰论坛 上海同城对对碰交友社区villus, court documents show. In other words, the deal might ve been the unions best shot at recouping as much money as possible.

Under the reorganization plan, unsecured creditors receive 10 percent of their claim or their proportional cut of a $600,000 fund, whichever is less.

An attorney for the unions didn t immediately return a request seeking comment.

In 2014, five union benefit and pension funds accused Navillus of evading agreements to use union labor on its projects through an alter-ego company owned by its CEO Donal O’Sullivan’s brother, Kevin. Navillus filed for bankruptcy two months after a judge ruled in the unions favor and appealed the judgment.

“While I’m confident we would have won the appeal, in the agreement recently announced, the judgement will be vacated — meaning that the Navillus name, along with my own, will be left untarnished, O Sullivan said in a statement. This is incredibly important and will allow us to move forward and grow as we bring in new work. We look forward to putting this behind us, as we continue to work on New York City’s biggest projects.

Tags: construction
We are having some technical difficulties. Try again later.

By clicking Subscribe you agree to our Privacy Policy.

[……]

Read more

PreviousNext

You Want To Have Your Favorite Car?

We have a big list of modern & classic cars in both used and new categories.