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Sandro Rosell
FC Barcelona President
Monday, June 26, 2017

Real Estate

According to first quarter sales reports from Brooklyn, anybody looking to purchase a home in that borough had better have deep pockets. The median sale price for homes there is at a record level. A year ago, a home in Brooklyn that would cost $662,431, will now cost &770,000, according to reports by Douglas Elliman.  This is the third consecutive rise in median home prices in Brooklyn.  Another example of this rise is the increase in average sale prices. They are now at a record high of $993,000, 25% higher than last year. The average then was $795,409.  

The reason behind this increase, according to Douglas Elliman is closings at new development condos, which is making houses more and more valuable. According to the Law of Supply

Property records that were made public on Wednesday, April 5, a townhouse in Manhattan’s Upper East Side sold for $79.5 million, the record highest price for a home in the borough. According to appraiser Miller Samuel Inc. the previous record for a Manhattan townhouse was in 2006 when the property at 4 E. 75th Street was bought for $53 million.

For over 80 years, the billionaire art dealing Wildenstein family had their gallery at the 20,500-square-foot property they own located at 19 E. 64th

A piece of property in Downtown Brooklyn measuring out 220,000-square feet is the center of a lawsuit to the tune of $44 million.  The plaintiff is the head of Aview Equities, based in Borough Park, named Abraham Liefer. The defendant is Henry Lieberman, who Abraham Liefer claims violated their contractual agreement to sell the Brooklyn property to Liefer…by attempting to instead sell it to Liefer’s own possible investors for $3 million dollars less than the agreed-upon price of $44 million

One of the most ambitious projects envisioned for the Bronx is in the making.  To turn it into a reality, a new record in financing will likely need to be set for the borough. According to the Real Deal, The Chetrit Group and Somerset Partners are endeavoring to create 1,300 residential rental units throughout seven-buildings in Mott Haven, South Bronx. The project is slated to cost $600 million. The partners plan to put in between $100 million to $150 million in equity. As per Keith Rubenstein

Kushner Companies is no longer in talks with the Chinese investor that was going to help them redevelop the $7.5 billion tower located at 666 Fifth Avenue.

On Tuesday, March 28, a spokesman for Kushner told the Post, “Kushner Companies is no longer in discussions with Anbang about 666 Fifth Ave.’s potential redevelopment, and our firms have mutually agreed to end talks regarding the property.”

However, the revolutionary plan is far from being dead. Charles Kushner led Kushner Companies is out