Gilbert Winn

Curious about the Real Estate market in your community? Click the link and contact me to discuss. #realestate #localmarket #equityinyourhome #sellers #buyers #sellersagent

3

SL Green Realty, New York City’s largest office landlord, is leading the market’s post-pandemic recovery with remarkable milestones in 2024: - Leasing Milestone: On track to lease 3.5M SF this year, exceeding targets by 1.5M SF. - Landmark Sale: Sold a stake in One Vanderbilt, valuing the property at $4.7B—making it the most valuable office tower in the U.S. - Strategic Refinancing: Closed over $5B in refinancings, leveraging its market position to secure favorable terms. - Expansion Moves: Acquired Park Avenue office space and raised $400M in new stock for growth opportunities. SL Green’s high-quality assets and strategic initiatives, like a proposed Times Square casino in partnership with Caesars and Jay-Z, highlight its resilience and vision for the future. #OfficeRecovery #SLGreenRealty #CommercialRealEstate #NYCRealEstate #PostPandemicRecovery https://lnkd.in/ez_47Xvy

3

Good process on concrete and framing

27

3 Comments

Net Cash Flow - Mixed use - Rental - quarterly distributions - 16.3% - 18% - ⁠Principle Guarantee Astor Capital is thrilled to announce our upcoming 49-unit mixed-use rental project in the vibrant neighborhood of Broadway Junction, Brooklyn. This high-demand project addresses NYC’s critical need for affordable housing, ensuring strong occupancy rates and stable returns. Why Invest? *Preferred Equity with Strong Projected Returns of 16.3%-18.0% Net IRR to Investors, with Quarterly Distributions *Highly Established Brooklyn Developer with 25+ Years of Experience and Over $1.5 Billion in Completed Developments *5-Year Partnership between Astor and the Developer, Involving 6 Investments and Multiple Successful Exits to Date *This Priority Position Represents an Attractive Debt Yield of 9.55% and Just 63% of the Stabilized Asset Value *Short 36-Month Duration *Developer is Personally Guaranteeing Astor’s Principal *NY State Sponsored Affordable Rental Housing Program

1

Jersey City is emerging as a top destination for marquee office tenants, with 2024 marking a turning point for its office market. Major deals this year include:  - Bank of America: Renewed and expanded to 547,962 SF at Newport Tower in the city’s largest office lease in over a decade.  - J.P. Morgan Chase: 550,000 SF renewal and expansion.    - Samsung: 321,207 SF for its headquarters in Englewood Cliffs.    - Fidelity Investments: 185,000 SF renewal at 499 Washington Blvd.  These deals, alongside rising net absorption and leasing activity, reflect Jersey City’s growing appeal due to its affordability compared to Manhattan, a strong talent pool, and high-quality real estate offerings. As amenities and infrastructure improve, the city is cementing its position as a hub for corporate growth.  #CommercialRealEstate #JerseyCity #OfficeMarket #LeasingActivity #CRERecovery #CorporateExpansion

9

🚨 #MarketMonday: Northern NJ Industrial Market Update – Q3 2024 🚨 Sublease availability is rising in the Northern New Jersey industrial market, providing both challenges and opportunities for occupiers. 📊 💼 Key Insights: Sublease Space Growth: With a significant uptick in sublease options, occupiers have more flexibility in finding space that fits their needs—often at lower rates than direct leases. Rent Trends: Many sublease offerings are priced below market rates, creating opportunities for cost savings. Occupier Opportunities: Subleases offer faster occupancy solutions for businesses needing immediate space, ideal for scaling or streamlining operations. Market Dynamics: As more companies release space, competition may increase for landlords, but it also opens doors for savvy businesses to secure advantageous terms. If you're navigating this evolving market, let's discuss how Savills can help you optimize your strategy and capitalize on these opportunities. 📈 #CommercialRealEstate #IndustrialMarket #Savills #Sublease #RealEstateTrends #NorthernNJ

4

Here are 10 common pitfalls in NYC Property Development and strategies to overcome them: https://lnkd.in/eh6fc9Nq #realestate #NYC #Propertydevelopment

1

80k units over 15 years. meanwhile, 40k rent stabilized units are off the market due to the 2019 rental law. Albany has the power to get these units on the market, but won't. amend the 2019 rental law.

4

1 Comment

How is the Boston life sciences market evolving? JLL’s Bob Richards joined a panels of experts at a recent Boston Business Journal event to discuss lab space, IPOs, challenges leaders are facing and more. Read more about key event takeaways >> https://lnkd.in/eN-u8uxH

6

The Great Affordable Developer Exodus?!? (Part 5) Over the last few days, we have looked at how affordable developers are being pushed into the red. Starting with reduced/deferred fees at the time of award, through operations shortfalls, ending with little or sometimes negative equity at the end.  A process which is forcing many to exit stage left. However, even as we are seeing this possible exodus, there aren’t a ton of new viable candidates eagerly waiting in the wings to take up the mantle. Regardless of the motivation of the new developer, the process is expensive, bureaucratic and slow.   Due to length, I will have to split this up into a couple of posts. I've attached a link to a more comprehensive overview from HUD, which is interesting and frightening. Below is the lifecycle of an affordable deal to get to the point of receiving that developer fee. 1)    Look for land in a QCT/DDA (Qualified Census Tract) that meets the requirements of the QAP (Qualified Allocation Plan).  The QCT helps put more money in the deal (see my prior posts), the QAP is how the state dictates what projects they want and will award. Both the QCT and the QAP can change yearly. 2)    Check the zoning of the parcel, if not correct start the 12–36-month process to change it. Hopefully you can.   Hire an attorney to help make your case with the local zoning board. ($100k plus) 3)    Hire an engineer and an architect. Complete a Phase 1 environmental survey (hopefully it’s clean.) Complete geotechnical and environmental survey. (Around $50K) 4)    If all of the above checks out. Try and get that parcel bought or under contract. Knowing you are competing with every other LIHTC developer who needs the same unicorn piece of land. Normally with non-refundable funds of some sort. ($100k plus) 5)    Once parcel is secured (either purchase, lease or under long term contract) hire an architect and a GC. Develop a site development plan and a proposed budget. ($100k plus) 6)    Providing you can complete all of the above before the application deadline. Submit everything to the state housing authority. Pay more fees and complete a multi-page application. Include all your financials (you need at least a $5MM net worth or a partner). You must have built a LIHTC project in that state within the last few years or have a partner. Partners take a part of the developer fee. Tomorrow, I'll finish this lifecycle evaluation, along with its costs. Notwithstanding the difficulty, I hope those new developers either have deep pockets, or rich sponsors. https://lnkd.in/gZCtQyW2.

73

6 Comments

🏙️ Big news for NYC real estate. Marc Holliday discusses the potential impact of the proposed housing bill on office conversions, opening doors to new opportunities for development and community growth. Read full article on Bisnow here: https://lnkd.in/eC2aBx8s #NYCRealEstate #UrbanDevelopment

2

1 Comment

Downtown Manhattan is leading the charge in retail leasing activity, comprising a staggering 38.4% of all first-quarter transactions in 2024. Within Downtown Manhattan, the momentum is particularly strong in the iconic neighborhood of Soho, that continues to shine, accounting for 30.3% of completed retail deals, while the Financial District follows closely behind, capturing 24.2% of leasing transactions. This surge in leasing activity underscores the resilience and vibrancy of Downtown Manhattan's retail landscape. From trendy boutiques in Soho to bustling storefronts in the Financial District, opportunities abound for retailers looking to make their mark in this dynamic urban hub. #DowntownManhattan #RetailRevival #Soho #FinancialDistrict #CommercialRealEstate

11

Join us for our Q&A sessions and learn more about the value of joining our leadership 2.0 program!

8