A former schoolhouse in Andes, N.Y.; a 1923 brick house in South Bend, Ind.; and an 1892 bungalow in Milwaukee.
KKR, the investment firm known for company takeovers, has doubled its stake in a company that targets house-flipping. The firm invested another $250 million in New Jersey-based Toorak Capital Partners, which has $1.5 billion in house-flipping loans on its books, according to the Wall Street Journal. Toorak buys loans from firms like LendingHome and PeerStreet, which issue 12-month, high-yield mortgages for home fix-and-flip projects that fetch interest rates between 8 to 12 percent. In May […]
Image via Creative Commons Democratic leaders in Albany announced Tuesday that an agreement has been reached on a package of bills that will significantly strengthen New York’s rent laws and tenant protections. As the New York Times reports, contained in the legislative package headed to both chambers for a vote this week are landmark changes to current rent regulations, which expire on June 15. The new legislation is meant to address concerns about the high cost of housing and the sweeping inequality that has resulted from it. To that end, as the Times explains, “the changes would abolish rules that let building owners […]
Last week’s NYC mid-range investment sales market saw a wide array of deals: from a new development in Clinton Hill to a walk-up in the Lower East Side. These are the transactions made public last week, according to the city’s Department of Finance database. 1.) For $26 million, Classon Management LLC took on a new mixed-use development at 1007 Atlantic Avenue in Clinton Hill. The eight-story rental building, whose residential and commercial space were sold […]
Twenty-five miles north of Manhattan, the village of Sleepy Hollow is finally getting an awakening. Construction crews are toiling away at Edge-on-Hudson, the sprawling 70-acre, $1 billion project that’s being developed on the site where a giant General Motors plant churned out cars until shuttering in the 1990s. Once complete, the project will add 1,177 new residential units, a 140-room hotel and retail and commercial space to this small Westchester enclave — along with new roads, […]
YIMBY recently went on a hard-hat tour of 77 Greenwich Street with Daniel Kaplan, senior partner at FXCollaborative. The reinforced concrete skyscraper is closing in on its final floors and will soon top out 42 stories and 500 feet high above the Financial District. Trinity Place Holdings is the developer of the mixed-use residential project. There will be 90 condominiums ranging from one- to four-bedroom layouts with interiors by Deborah Berke Partners, as well as a grade school and retail space in the 150-foot-tall podium section. The landmark exterior of the Robert and Anne Dickey House will be included in the school.