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Ulster County home prices spiked 20 percent last year

House hunters experiencing sticker shock throughout the Hudson Valley last year found little respite in the Catskills. The median sale price for a single-family home in Ulster County jumped to $349,000 last year, a 20 percent increase from 2020, according to Hudson Valley One, which cited data from the county’s multiple listing service. Prices were already elevated in the area during the pandemic: Last year’s spike came on the heels of a 13 percent jump

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A 16-acre multifamily development headed to North Austin

Multifamily developers are trying to keep up with all the new office space going up in North Austin’s Domain neighborhood. Often referred to as the city’s “second downtown,” the mixed-use community has expanded over the years to include several new office towers—and they keep on coming. Amazon leased 330,000 square feet of office space in an under-construction high-rise there last month. That office development is happening alongside the growth of retail and entertainment complexes and

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Hakimian changes Midtown hotel plans to residential

“When events change, I change my mind. What do you do?” Nobel-winning economist Paul Samuelson famously said. The Hakimian Organization does too. The real estate firm filed documents changing a 113,000-square-foot Midtown project from hotel to mainly residential. The new application calls for 136 residential units. The company, founded by brothers Ben and Joe Hakimian, purchased the site, 244 West 49th Street, in 2003 for $13.1 million and were partnering with Gorjian Properties to develop

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Intel nah, Micron maybe: Texas could get another multibillion-dollar semiconductor plant

The chances that Texas will land another multibillion-dollar semiconductor plant just got slightly better. A site that Micron Technology was considering in Chatham County, North Carolina, is off the table, the Austin Business Journal reported. That eliminates one of the many competitors vying to land the factory. Micron has been poking around Calwell and Williamson counties in central Texas for a few months. The Boise, Idaho, corporation is one of the largest semiconductor companies in

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Bayonne to weigh 2 redevelopment proposals

Two major projects are set to be reviewed by Bayonne’s Planning Board in February, including a residential building that could be the tallest in the city. The two proposals are slated for review in a meeting on Feb. 8, NJ.com reported. The review will come after this month’s meeting was canceled due to several board resignations and two cases of COVID-19. One proposal is for an 18-story building as part of Avenue E’s larger SilkLoft

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Black Spruce picks up Queens multifamily portfolio

Almost a year after hitting the market, a Queens portfolio sold to an emerging name in the multifamily sector: Black Spruce Management. Records show Josh Gotlib’s company purchased the four-building portfolio in Briarwood for $87.2 million from The Musso Group. The seller was marketing the property a year ago with an asking price of $99 million. The Musso Group bought the pair of apartment buildings at 80-08 and 81-10 135th Street in 2009 for $28

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BFC Partners closes on Staten Island dev site

Almost two years after filing plans for a mixed-use project in Staten Island’s Stapleton neighborhood, BFC Partners has closed on the development site. BFC announced last week it closed on the site at 475 Bay Street, the Commercial Observer reported. The developer received a $99.8 million mortgage from the New York State Housing Finance Agency, which will go toward the project’s projected development cost of $151 million. Plans for a project from the Empire Outlets

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Brookfield scores $330M refi at Greenpoint Landing

The former loan providers of at one Greenpoint Landing development are getting the slip, having their debt retired in favor of a new refinancing. Brookfield Properties scored a $330 million refinancing of Two Blue Slip from MF1 Capital, the Commercial Observer reported The loan is for a floating rate and has a five-year term. The debt retires the roughly $217 million construction loan provided in late 2018 by a group of four international lenders, led

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Amencio Ortega buys Toronto’s Royal Bank Plaza

Billionaire Amancio Ortega, the Zara clothing founder, is making a splash in Toronto. Ortega paid the equivalent of $961 million to buy the city’s gold-clad Royal Bank Plaza skyscraper, one of the biggest sales for an office building globally since the start of the coronavirus pandemic, Bloomberg reported. The seller was Oxford Properties, the real estate arm of Ontario’s pension fund for municipal workers, and the Canada Pension Plan Investment Board. The funds put the

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564-acre California ranch with redwoods, six homes and two Prohibition-era bars lists for $22.5m

A Northern California ranch said to have hosted Charles Lindbergh and Gregory Peck had its price chopped by $2.5 million. The 564-acre Island Farm property in San Gregorio has six historic homes and is now asking $22.5 million, according to Mansion Global. It’s been owned by the same family for a century and has furnished log cabins, redwood forests, ponds and streams and grazing cattle. “There’s over 80 acres of redwood forests with a stream

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