Apartment Look

From left to right: An ERA Insite Realty office , Greystar’s 1 Kennedy Flats in Danbury. Bronxville’s Carlson Real Estate merges with ERA Insite Realty of White Plains Two family- owned Westchester real estate firms merged this week, the Westchester Business Journal reported . Bronxville’s Carson Real Estate , founded in 1972 by Marie Carlson and now run by her son Craig, will join ERA Insite Realty , a franchise of ERA that has operated as a family business in White Plains for 32 years. Previous to this, the Carlson brokerage was a franchise of Coldwell Banker. Craig Carlson will become an associate broker at ERA and will bring 20 brokers with him. Louis Budetti, principal broker of ERA Insite, said the merger worked because both firms “are both family- owned businesses and share common philosophies .” [WBJ] One Danbury apartment complex sells for $31M as a nearby Greystar-owned complex goes on sale The 135- unit Willow Grove apartment complex in Danbury sold for $31 million l...

Vanguard Group is fast becoming a dominant investor in the U.S. real estate industry . Securities and Exchange Commission reports compiled by Bloomberg show that the company’s mutual funds and exchange-traded funds are now the leading owners of real estate investment trusts (REITs), the tax- protected investor funds that own many of the nation’s offices, shopping centers, apartments, hotels, warehouses, and data and storage centers. Including its indexed stock and REIT-focused funds, Malvern- based Vanguard owns 18 percent of Host Hotels & Resorts, whose portfolio includes Ritz -Carlton, Marriott, and Westin hotels; 15 percent of Simon Property Group , the national mall owner that counts King of Prussia Mall among its holdings; and a similar share of Prologis, the warehouse giant. Locally, Vanguard funds control 16 percent each of Brandywine Realty Trust , which owns a majority of Center City’s highest buildings; Liberty Property Trust ...

WILLIAMSBURG, BROOKLYN — This week’s featured real estate listing is a one-bedroom condo at 228 Bushwick Ave. with an asking price of $600,000. The 583- square foot apartment features a balcony, stainless-steel kitchen with marble counters, and an in-unit washer/dryer. Check out more photos of the home here and be sure to sign up for the Williamsburg Patch daily newsletter to get updates on local news and real estate. From Realtor.com: No L train, no problem! The J & M trains are just a 10-minute walk away! Come home to this nicely layed out condo with open southern exposure ! Located in the trendy part of East Williamsburg , this property is in a prime location adjacent to the L subway station. This spacious one bedroom features a balcony, stainless steel kitchen with marble counters, and washer dryer. There is through the wall air conditioning , cherry doors, and white oak hardwood flooring . This building, which is only a few years old, has a video intercom entrance syste...

FORT GREENE, BROOKLYN — This week’s featured real estate listing is a six- bedroom landmark townhouse at 59 S. Elliott Pl. with an asking price of $3,499,000. The 4,000- square foot apartment was built in 1899 and features open floor plans , four bathrooms and is within walking distance of Fort Greene's best attractions. Check out more photos of the home here and be sure to sign up for the Fort Greene Patch daily newsletter to get updates on local news and real estate. From Realtor.com: Unique 2 family, 25 foot wide landmark townhouse located on one of the most desirable blocks in Fort Greene. This rare gem has been updated to provide double duplex apartments with open floor plans . Living space totals over 4000 square feet, endless possibilities of combining both units for a distinctive living experience .Located near B25, B52, B26, B38 buses and 2,3,4,5 train lines and walk to historic Fort Greene Park . A true one of a kind! $3,499,000 This listing originally appeared o...

California real estate investment firm rebrands and repositions 1960s- era apartment community with modern amenities and boutique hotel feel, increasing value by 89% Calvera Partners , a California- based private real estate investment firm , today sold pksl (pronounced “pixel”), a 37-unit apartment building located at 1090 Sunnyvale Saratoga Rd. in Sunnyvale, CA, for $15.7 million ($424,000 per unit), an 89% increase over the building’s acquisition price of $8.325 million in January 2014. Home base to the original tech darlings Atari , AMD and Yahoo, the pksl project was the transformation of a 1960s- era apartment complex , formerly known as Crestview Terrace. With a mission to reposition underperforming properties with creative and authentic brands, high value tenant amenities , and modern design, pksl underwent a major transformation. “This community underwent the most significant physical change of any property we’ve owned,” said David Saxe, managing principal at Calver...

Unable to commit. Fear of missing out on something else (#FOMO). Not ready to settle down. No, we're not referring to your ex. Renters also often get a bad rap for being more flighty than their homeowner peers. And it isn't completely unfounded. Nearly two-thirds of renters, about 64%, plan to settle down in a different city, according to an Apartment List report . So where do they want to go? And, perhaps more importantly, where do they want to leave? The rental website surveyed about 24,000 renters, nearly two-thirds of whom were millennials, and then dug into its own internal data for the report. Apartment List looked at 50 large metros across the country for the report. It turns out renters in the priciest metros on the coasts, such as New York and San Francisco, and in inland cities where costs are rising rapidly, like Denver and Austin, TX, are the most eager to move. Folks in colder climes where there aren't as many good- paying job opportunities , like Milwaukee...

Unable to commit. Fear of missing out on something else (#FOMO). Not ready to settle down. No, we're not referring to your ex. Renters also often get a bad rap for being more flighty than their homeowner peers. And it isn't completely unfounded. Nearly two-thirds of renters, about 64%, plan to settle down in a different city, according to an Apartment List report . So where do they want to go? And, perhaps more importantly, where do they want to leave? The rental website surveyed about 24,000 renters, nearly two-thirds of whom were millennials, and then dug into its own internal data for the report. Apartment List looked at 50 large metros across the country for the report. It turns out renters in the priciest metros on the coasts, such as New York and San Francisco, and in inland cities where costs are rising rapidly, like Denver and Austin, TX, are the most eager to move. Folks in colder climes where there aren't as many good- paying job opportunities , like Milwaukee...

NEW YORK, Aug. 16, 2017 /PRNewswire/ -- Key facts: -- Rent growth far outpaced incomes in New York City. City-wide asking rents increased by 33 percent from 2010 to 2017, or 3.9 percent annually, while median wages grew at less than half that pace: 13 percent since 2010, or 1.8 percent annually. -- The lowest- priced rents increased the most. Homes with the lowest rents in NYC grew 4.9 percent annually, while the highest- price rentals grew just 3 percent per year. -- The lowest earners faced the smallest wage growth . Wages for NYC workers in the bottom fifth of earners saw the smallest annual increases since 2010, while wages for top- earning professions grew the most. Despite rents rising over the past year at their slowest pace since the end of the recession, rent growth in New York City has continued to outpace wage growth , increasing the financial burden on New York City renters . According to the latest StreetEasy rent affordability report (i), rent increases are outpac...

Mainstreet Equity (OTC:OTC:MEQYF) is an under-the-radar residential apartment owner/operator in Western Canada . Despite a market cap of $325m (all figures Canadian ), it often sees volume of less than 1000 shares a day on the TSX where it trades under the MEQ ticker. The recent investor presentation (July 2017) gives a brief snapshot of the properties Mainstreet controls . It's important to note that Mainstreet is well away from the frothier markets in Canadian real estate , both geographically and in terms of price point. The average apartment it owns is valued at just marginally more than $100k with an average monthly rent of just $864. These are solidly middle class , leaning lower middle class , properties. The company is focused on rolling up what they view as smaller, underperforming buildings, often ones that have fallen into significant disrepair, are being managed by inexperienced and/or unprofessional owners, and giving them a makeover, with some recent examples fr...

HARRISON, NY – A 421- unit luxury rental community is being built on the site of two former office buildings along the I-287 corridor once a mecca for businesses. The apartment building on Corporate Park Drive will have retail on the first floor and an in- building parking garage . Amenities will include a club room, fitness center, kid’s playroom, pet spa, bike lounge, craft room, co-working lounge and pool. The Carraway development is another example of an ongoing trend of repurposing vacant office buildings along Westchester’s Platinum Mile into residential and retail uses, including a fitness center on what was once the site of The Journal News building in Harrison and plans for a Wegmans supermarket on a former office building site on Corporate Park Drive . (For neighborhood news like this, sign up to get Patch’s daily newsletter, news alerts and updates.) Tuesday the developers, Toll Brothers Apartment Living , joined with officials from the Town of Harrison and Westcheste...

Davie-based seller nearly doubles its money on the deal John Hielscher Staff Writer @johndhielscher MANATEE COUNTY — Cutting its second deal here in three months, a Pennsylvania real estate investment company has purchased the Champions Walk apartments for $58 million. An affiliate of Merion Realty Partners last week acquired the 376-unit complex at 4148 53rd Ave. W. near IMG Academy in Bradenton. In May, Merion paid $19.1 million for the Bradenton Reserve Apartments , a 166- unit community next to IMG. The seller of Champions Walk nearly doubled its money on the deal. Champions Walk of Bradenton LLC, a Davie- based company managed by Mark Kalimian, paid $30.1 million for the complex in early 2013, about half of its boom-time price. Kalimian acquired the property from a Hallandale-based company that had paid $60 million in 2007, county records show . Just 18 months later, that company lost a $53. 7 million foreclosure judgment and ceded the property to Lehman Bros., w...

SANTA ROSA, Calif. , Aug. 22, 2017 /PRNewswire/ -- San Francisco area based Praxis Capital , Inc . is pleased to announce that it has acquired the 198-unit Class B Birch Run Apartments in Clarkston, Georgia . This is the company's first acquisition in the Atlanta metro. Praxis plans to build a portfolio of approximately 2,000 units in this market. Praxis Capital has acquired the Birch Run Apartments , a beautiful 198-unit Class B Value-add property in Clarkston, GA, a suburb of Atlanta" src="https://mma.prnewswire.com/media/547731/Praxis_Capital_Inc_Birch_Run_Atlanta.jpg?w=800" alt=" Praxis Capital has acquired the Birch Run Apartments , a beautiful 198-unit Class B Value-add property in Clarkston, GA, a suburb of Atlanta" class="img-responsive" /> Praxis Capital has acquired the Birch Run Apartments , a beautiful...

CLOSE North Korea threat; Fatal Rehoboth Beach house fire ; Bruce Springsteen on Broadway 8/10/17 1303 Delaware Avenue was purchased by Capano Management . (Photo: Courtesy of Capano Management ) Capano Management continues to bolster its residential portfolio with the acquisition of 1303 Delaware Apartment Homes in Wilmington's fashionable Trolley Square neighborhood . A sales price was not disclosed. Capano financed the purchase with a fixed-rate loan from Fannie Mae.  The privately-held Wilmington-based developer's multifamily division, Capano Residential , purchased the 231- unit high rise from Merion Realty Partners , a Wynnewood, Pennsylvania, real estate investment firm . Jeffrey Shumaker, vice president responsible for Merion's multifamily division, declined to comment on the transaction. "That's not public information," Shumaker said of the sale.  Upon acquisition, Capano Residential , which is headed by Louis J. Capano, renamed the property Par...