Sweetgreen Founders

Claire Esparros/Homepolish

Sweetgreen — the salad spot with a cult following for its fresh, seasonal, and locally-sourced meals — has grown considerably over the past six years. Armed with $75.5 million in venture capital and 43 salad chains all over the US, it doesn t look like it ll be slowing down anytime soon.

Sweetgreen s plans to rapidly expand its presence in New York City led two of its three cofounders to set up an official home base in Manhattan. Here is a look inside.

Jon Neman and Nathaniel Ru — who already have homes in Washington, DC and Los Angeles — chose a bright, cheerfu爱上海 爱上海同城手机版l SoHo loft to stay in when they re visiting New York on business.

To help design their new home, Neman and Ru called on Homepolish, a startup that has designed spaces for other startups and homeowners.

Homepolish founder Noa Santos designed the space, drawing inspiration from pieces Neman and Ru already owned. The living room rug was from Jon s family, and it served as a starting point for the living room color palette, Santos told Business Insider.

Claire Esparros/Homepolish

Santos wanted to create a dining area that felt separated from the living room — a challenge given the open floor plan.

Claire Esparros/Homepolish

To Santos, the vibe the of the apartment is California meets Lower East Side.

Claire Esparros/Homepolish

Jon and Nate wanted a home that felt clean and modern in keeping with the style of the loft itself, but not lacking in warmth, Santos said.

Claire Esparros/Homepolish

Sweetgreen provided a great reference point for understanding Jon and Nate s tastes, Santos said. The three cofounders have 爱上海 爱上海同城手机版managed to create a business that feels modern and fresh without losing the familiar comfort of great food.

Claire Esparros/Homepolish

We worked with a few artist friends to choose pieces that we really love, Neman told Bloomberg in a recent interview.

Claire Esparros/Homepolish

Santos was ca爱上海同城手机版 新爱上海同城对对碰论坛reful not to create a typical bachelor pad. Do two bachelors live there? Yes, he said. But the design itself is no different tha爱上海同城论坛 爱上海同城n if they weren t bachelors.

Claire Esparros/Homepolish

In Ru s room, you ll see a stylish Eames chair. It costs $4,859 from Design Within Reach.

Claire Esparros/Homepolish

Santos had only positive things to say about the two cofounders and their collaboration on the design. They ve done it better than most married couples, I think. They re both in complete agreement on most of the pieces we picked, he told Bloomberg.

Claire Esparros/Homepolish

The living room windows are Santos favorite part of the entire loft. You should never underestimate the power of natural light in a space, he said.

Claire Esparros/Homepolish

Tags: lofts, soho
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Airbnb NYC

Commercial units make up a third of Airbnb hosts revenue: report Profit motive could push startup to focus more on “commercial units”

Map of Airbnb listings (credit: Inside Airbnb)

While commercial listings on Airbnb make up a tiny sliver of the total units available, they do account for an outsized portion of profits – and that could motivate the controversial startup to focus more on those commercial listings as it grows.

Commercial li阿爱上海同城 阿拉爱上海同城stings or units that are rented at least 180 days a year make up 8 percent of the more than 30,000 units listed on Airbnb in New York City, according to an analysis by the data blog FiveThirtyEight.

But those listings 上海千花网论坛 上海千花网make up 32.5 percent of the $384 million爱上海同城对对碰 爱上海同城论坛 in revenue the San Francisco-based company pulled in between June 2015 and May 2016, the website reported.

As Airbnb looks to grow, the profit motive could push it to focus more on these listings as investors, such as large national real estate firms, jump on board.

“Landlords might see it as a better option in the market than conventional renting,” said George McCarthy, president of think tank the Lincoln Institute of Land Policy. “I’m not convinced it’s that big a deal yet, but the growth rate would be of concern.”

Tenants at Equity Residential’s 259-unit rental building at 400 West 37th Street sued their landlord earlier this month, claiming the company was running the building as a de-facto hotel through Airbnb.

The jury is still out on Airbnb’s effect on rents.  The company has only about 2,500 commercial listings in New York City – a tiny fraction of the city’s 2.2 million rental units, FiveThirtyEight noted.

Gov. Andrew Cuomo has yet to make a decision on a bill the s爱上海龙凤419桑拿 上海龙凤论坛sh1ftate Legislature passed that would impose penalties on tenants who advertise their apartments illegally on Airbnb. [FiveThirtyEight] – Rich Bockmann

 

Tags: airbnb, short 上海夜网论坛 上海夜网term rentals
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Donald Trump Wall Street

How Trump could shake up real estate finance President-elect plans to ditch Dodd-Frank, ramp up federal spending

At his campaign rallies, Donald Trump presented himself as an anti-establishment populist looking to rein in Wall Street’s gross excesses. But when he stepped in front of a crowd of finance and business big shots at the New York Economic Club on Sept. 15 to outline his economic policy, he showed a completely different face. “One of the keys to unlocking growth is scaling-back years of disastrous regulations unilaterally imposed by our out-of-control bureaucracy,” he said.

Bank stocks surged the day after he won the presidential election. And with good reason despite his populist talk, Trump has given strong indications that he plans to deregulate Wall Street.

His plans could transform real estate finance. For the past eight years, the sector has grown accustomed to an environment of low interest rates and increasing bank regulations. That age could soon be over. Trump has already declared his intention to dismantle the Dodd-Frank laws enacted in the wake of the 2008 financial crisis. He ll also get the opportunity to appoint a new chair of the Securities and Exchange Commission. And his planned debt-financed fiscal spending spree – assuming it makes it past budget hawks in Congress – could well push up inflation and interest rates.

“I think it’s fair to say that the economic narrative has changed,” the Blackstone Group’s head of real estate, Jonathan Gray, said at a conference a week after the election. (Gray, a Democrat, is reportedly bring considered for Treasury secretary.)

Here’s a rundown of how the Trump administration could impact real estate finance:

Dodd-Frank

Two days after the election, Trump’s team announced its plans to get rid of the Dodd-Frank law enacted in the wake of the 2008 financial crisis. Along with the international Basel III agreement, which stipulated that banks have to hold a larger equity buffer to protect themselves against losses, Dodd-Frank has helped transform the financial sector in the post-2008 years in part by placing stricter rules on banks.

The law includes a myriad of regulations, but the ones that matter most perhaps are the so-called Volcker rule and imminent risk retention rules on the commercial mortgage-backed securities market. The Volcker rule prohibits banks that accept consumer deposits from trading on their own accounts. The intention is to protect small-time savers from big bank failures caused by risky investments, and the rule has made it harder for banks to invest in real estate or CMBS outright. Meanwhile, risk retention rules taking effect next month require CMBS issuers to keep five percent of loans on their books – reducing the volume of debt they can sell 上海贵族宝贝交流区 上海贵族宝贝论坛off to investors.

Whether Trump will keep the two rules in place remains unclear for now. But repealing wouldn’t necessarily be a game changer for real estate finance. Despite the looming risk retention requirements, CMBS mar[……]

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Hamptons Real Estate

Hamptons Cheat Sheet: TRD digs into the Hamptons biggest commercial projects, AmEx gets kicked out of Grey Gardens more

Groundbreaking of Ha上海夜网 阿爱上海同城mpton Business Park at 200 Rogers Way and Grey Gardens at 3 West End Road

What are the Hamptons’ biggest commercial projects?
The Hamptons may be traditionally wary of development, but that hasn’t kept dogged developers away. In The Real Deal’s roundup of the most anticipated projects of the Hamptons, Rechler Equity Partners’ $100 million Hampton Business Park in Westhampton takes the cake. When complete, the campus will include nine buildings totaling 440,000 square feet of commercial and industrial space. Meanwhile in Southampton, developer Renaissance Downtowns wants to revitalize the neighborhood of Riverside with a 2,267-unit housing project with nearly 200,000 square feet of commercial and retail space. Check out TRD’s ful上海千花网交友 上海千花网论坛l list here. [TRD]

Leave home without it: AmEx is not welcome at Grey Gardens, East Hampton officials say
Well, that was fast. Barely a week after news broke that American Express was leasing Grey Gardens for the summer, the credit card company got the boot from village officials. East Hampton’s zoning code does not allow private residences to be used for commercial purposes, a village administrator told the New York Post. Officials first heard of the problem from a newspaper ad for AmEx’s first event at the famed estate owned by Washi上海龙凤论坛 新上海贵族宝贝论坛ngton Post reporter Sally Quinn. [NYP]

Home of late literary agent is re-listed for $10M+
Here’s something worth writing about. The beach cottage of Rosalind “Roz” Cole, an agent to the likes of Andy Warhol and Charlie Chaplin, Jr., is now on the market for $10.25 million, the New York Post reported. It was first listed for sale in March for $9.9 million. The 1,200-square-foot spread contains two bedrooms and two bathrooms. The home has approved plans to tear down the structure and rebuild a 6,700-square-foot structure complete with a saline swimming pool on the waterfront side of the property. Douglas Elliman’s Carol Nobbs has the listing. [NYP]

Lady Gaga looks for new digs in Montauk
What’s the cure for summer heat? A summer hideaway in the Hamptons, apparently. Lady Gaga is reportedly house-hunting in the South Fork this week, having been spotted at Gurney’s Residences in Montauk with her boyfriend Christian Carino. The pair toured a $5.9 million oceanfront home with three bedrooms, ac新上海贵族宝贝论坛 上海贵族宝贝交流区cording to the New York Post. Gurney’s, at 290 Old Montauk Highway, is a luxury resort that features 12 residences that opened for sale May 2016. [LLNYC]

Sag Harbor Cinema fell $1.5M short of goal, but will continue to solicit donations
Despite the efforts of celebrity donors like Billy Joel and Martin Scorsese, the Sag Harbor Cinema restoration project fell $1.5 million short of its $6 million fundraising goal. But fundraising efforts will continue, according to the Sag Harbor Express. Originally, the partnership behind the $8 million project agreed t[……]

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Shiva Rajaraman

WeWork hires former Apple exec to manage $20B startup s softwar上海千花网 爱上海同城对对碰e Shiva Rajaraman also had stints at YouTube and Spotify

Shiva Rajaraman

WeWork hired former Apple, Google and Spotify executive Shiva Rajaraman to oversee its customer app and other software as chief product officer.

Rajaraman joins the co-working company after less than half a year at Apple, where he worked on video strategy. At WeWork, Rajaraman will work 上海同城对对碰交友社区 上海夜网论坛on adding new feature to the app, which allows WeWork’s members to interact with each other and book rooms, among other t爱上海同城手机版 新爱上海同城对对碰论坛hings. He is also tasked with developing new software tools to analyze members’ use of space, the Information reported.

Rajaraman previously served as vice president of product at Spotify and spent eight years at Youtube.

WeWork’s current 上海千花网 爱上海同城对对碰chief product officer, David Fano, is now received the title of chief product growth officer and will oversee physical products, sales and marketing.

Although its core business is selling office space, WeWork has advertised itself as a tech company, which helped it raise more than $4 billion from investors. It s valued at over $20 billion.

The appointment follows a series of leadership shuffles as the firms tries to get into a more corporate shape ahead of a rumored IPO. [The Information] Konrad Putzier

Tags: Co-working NYC, Commercial Real Estate, Tech, wework
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Ryan Serhant

WATCH: Ryan Serhant on running a company within a company and what brokers are doing wrong Nest Seekers broker says the brokerage model “doesn’t matter anymore”

With a team of many, a stockpile of Instagram followers and a brand unto himself, does Ryan Serhant really need Nest Seekers International anymore?

Nes上海夜网 阿爱上海同城t Seekers has always been great to me, and they always will be, Serhant said阿拉爱上海同城 爱上海龙凤419桑拿 during a recent interview with The Real Deal s Hiten Samtani.  I have a situation that I wouldn t be able to have anywhere else I新爱上海同城对对碰论坛 上海同城对对碰交友社区 basically run a company within a company.

Serhant credited Nest Seekers founder Eddie Shapiro and the firm s corporate team with his ability to run an indep阿爱上海同城 阿拉爱上海同城endent operation.

[They] understand that the brokerage model has changed, Serhant said. Brokers needs to have their individual brands and run their individual companies. You can t put caps on team sizes or caps on expenses or listings.

To see Serhant talk上海千花社区 上海千花网交友 more about being cultivating his own brand, what brokers in the luxury space are doing wrong and more, watch the video above. See the full interview here.

Produced by Jhila Farzaneh and Kerry Barger. Interview conducted by Hiten Samtani.

Tags: eddie shapiro, Nest Seekers International, Residential Real Estate, ryan serhant, Videos
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In Q3, Fairfield County homes were pricier and selling 30 percent faster than they had in 2017

In Q3, Fairfield County homes were pricier and selling 30 percent faster than they had in 2017

While the median home prices ticked up only 3.7 percent year-over-year, the stock in Fairfield county is selling over 30 percent faster than it did in 2017, according to a Douglas Elliman report. While in the third quarter of 2017, listings sat on the market for an average of 119 days, this year they were on the market for an average of only 82 days. In Stamford, both homes上海千花网 爱上海同城对对碰 and condos were listed for on上海贵族宝贝论坛 上海贵族宝贝ly about 70 days before selling, the report found. And the median home pr上海龙凤论坛sh1f 上海龙凤论坛ice increase to $425,000 marked the sixth time in the past seven consecutive quarters in which prices for Fairfield county homes increased. [Douglas Elliman新上海贵族宝贝论坛 上海贵族宝贝交流区]

Tags: Westchester Fairfield
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WeWork ARK

WeWork launches new investment fund, plans first ground-up development “ARK” nears deal for Frank M上海龙凤论坛 新上海贵族宝贝论坛cCourt’s Waller Creek site in Austin, Texas

Wendy Silverstein and Adam Neumann with an aerial rendering of the Waller Creek development site (Credit: Getty Images and Waller Creek)

WeWork launched a new real estate investment fund and is close to buying a massive development site in Austin, Texas, according to sources familiar with the matter.

The private fund, dubbed ARK, will be sponsored by WeWork and managed independently from WeWork Property Advisors, an investment vehicle the co-working company has been running in partnership with private equity firm Rhone Group. WeWork hired former New York REIT CEO Wendy Silverstein as ARK’s chief investment officer.

ARK is close to a deal to buy the 4.4-acre Waller Creek development site in Austin, Texas, from Frank McCourt’s McCourt Global, sources told The Real Deal. It wasn’t immediately clear what ARK is paying or whether it has any partners in the deal.

Real Estate Alert reported in July that the site, which includes two parcels, is value爱上海 爱上海同城手机版d at $150 million. McCourt planned to build a 3-million-square-foot, $1 billion mixed-use development on the downtown site and were on the hunt for a partner over the summer, according to the publication.

The deal would mark WeWork’s first acquisition of a major ground-up development site. The company has signed on as an anchor tenant at projects in the past, including Boston Properties and Rudin Management’s Dock 72 in the Brooklyn Navy Yard.

WeWork, a SoftBank-backed firm that was valued last year at $20 billion, declined to comment. McCourt Global did not respond to requests for comment.

Bloomberg reported in July that Silverstein would leave New York REIT and was in talks for爱上海同城 爱上海 an unspecified job at WeW新上海贵族宝贝论坛 上海贵族宝贝交流区ork.

WeWork made its first foray into real estate investment last year, when it partnered with Rhone to launch WeWork Property Advisors. Last O上海千花网交友 上海千花网论坛ctober, that fund agreed to buy the Lord Taylor building in Manhattan for $850 million, but it has yet to close on the deal and its hunt for funding continues. As of March, WeWork Property Advisors had raised $404 million from investors, SEC filings show. Earlier this year WeWork bought a 10 percent stake in the London office complex Devonshire Square Estate.

Last month, the Wall Street Journal reported that SoftBank was in talks to take a majority stake in WeWork, an investment that could be as much as $20 billion.

Tags: Commercial Real Estate, Real Estate Finance, wendy silverstein, wework
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Miami Record Home Sales

Indian Creek mansion sells for $50M, marking new Miami record Buyer shares the name of a trust managed by Qatari businessman A上海贵族宝贝 上海千花网龙凤论坛bdulhadi Mana Al-Hajri

3 Indian Creek Island Road

UPDATED, Feb. 6, 5:30 p.m.: A waterfront mansion on the exclusive Indian C上海千花网 爱上海同城对对碰reek Island sold for $49.9 million, setting a new record for single-family home sales in Miami.

Propert爱上海同城手机版 新爱上海同城对对碰论坛y records show AVK Land Holding LLC, managed by Russian attorney Andrey M. Kaydin, sold the 10-bedroom, 14-bathroom home at 3 Indian Creek Island Road to Angouleme Holdings II Limited Land Trust, which could be the same trust as one managed by Qatari businessman Abdulhadi Mana Al-Hajri.

3 Indian Creek Island Road

The nearly $50 million deal shatters a previous record for single-family home sales in Miami-Dade County, held by the same property when it sold in 2012 for $47 million.

The most expensive residential sale is still the $60 million sale of two units at Faena House, which billionaire hedge funder Ken Griffin purchased in 2015 and is now looking to sell.

The Indian Creek home features a 3D theater, recording爱上海同城手机版 新爱上海同城对对碰论坛 studio, vertical garden and indoor reflecting pools, rooftop bar and Jacuzzi, a 100-foot pool and cabana, six wet bars and an outdoor beach area with pink sand imported from the Bahamas, according to a release from Douglas Elliman. The mansion has nearly 23,000 square feet of indoor space, and other terraces that bring the actual square footage up to 30,000 square feet. It was built on an 80,000-square-foot lot in 2011.

The private island, with about 40 properties, is home to some of the wealthiest people in the U.S., including activist investor Carl Icahn, car dealership mogul Norman Braman, and Julio Iglesias.

In 2017, Iglesias listed an 8-acre assemblage of waterfront land on Indian Creek Island for $150 million.

A vacant, 80,000-square-foot lot at 9 Indian Creek Drive sold about a year ago for $27.5 million.

Oren and Tal Alexander of Douglas Elliman represented the seller, and Ralph Arias of One Sotheby s International Realty represented the buyer. Elliman and Arias declined to comment on the buyer.

The home was built in 2011 by Shlomy Alexander, the Alexander brothers father, and Felix Cohen, a spec home developer.

Tags: indian creek, oren alexander, ralph arias, Residential Real Estate Zillow sued over hacked listing of California mansionWeWork shuffles C-suite executives amid international pushGet breaking real estate news delivered straight to your inbox. Sign u…Homestead shopping c上海千花网龙凤论坛 上海千花社区enter sells for $62M
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