The phrase air rights, depending on who you you’re speaking with, conjures up various thoughts and opinions over exactly what they are! There is of course the environmental and aviation context, but for the purposes of this article we speak of the ability for a developer to build a building to a certain vertical height. One can possess air rights […]
The EB-5 Visa program was voted into existence by Congress late in the 20th century, and since that time has had its legions of supporters and detractors! That said, it’s likely that the majority of Americans know little when it comes to what this sometimes controversial and often politically charged program is all about. What is its […]
For anyone who may be interested in throwing a low-ball bid at an apartment in Manhattan with an asking price of $100MM, now might actually be the time to do it! After recently examining the decline of the nosebleed-level apartment rents across U.S. markets like New York City (‘Apartment Rents: What Goes Up, Must Come Down!‘), today the […]
What’s better for a lender than underwriting a commercial mortgage loan, packaging it with other loans and then selling it to investors? Any inherent risk of loan default, after the time it may take to sell the security off course, would be passed off to the investor that buys it. What we saw during the financial […]
Post-approval of Beechwood Organization’s Country Pointe at Plainview project, a small group of environmental activists have filed a lawsuit challenging the environmental review conducted by the Town of Oyster Bay! The plaintiffs claim is that ‘nearly 55 species of wildlife, including foxes and bats, inhabit the area and would be harmed by the project.‘ ‘Richard Brummel, […]
Currently there are discussions taking place in three of the tonier towns on the East End of Long Island (Southampton, East Hampton and Sag Harbor) to limit the size of new construction! For those living elsewhere around the country, the Hamptons is a region on Long Island in New York with some of the most beautiful […]
California real estate developer Nile Niami is spec building a home with a $500 million price tag that, when finished, will allow the lucky buyer to actually claim the title of ‘Prince of Bel Air’! Spec building, for those who may be unfamiliar with the term, entails building a home with no buyer in mind hoping […]
Remains of gelding Native Diver are to be moved from Hollywood Park to Del Mar Racetrack in California! Historic racetrack Hollywood Park is being razed to make room for residential and commercial real estate development. Native Diver was a fan favorite who ran his last race in 1967, died suddenly and was buried in the […]
