Clipper Equity gets $136M refi for GWB apartment complex

Clipper Equity gets $136M refi for GWB apartment complex

David Bistricer and the Bridge Apartments at 111 Wadsworth Avenue and 1360 St. Nicholas Avenue (Credit: Studio Scrivo and Google Maps) David Bistricer’s Clipper Equity just got a debt injection from Freddie Mac for an apartment complex that straddles the interstate leading to the George Washington Bridge. The owner entity, which includes investor Jacob Schwimmer, secured a $136 million refinancing of the 480-unit Bridge Apartments at 111...

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Mortgage Escrow Account Rules Could Mean Borrowers Are Owed Interest

Mortgage Escrow Account Rules Could Mean Borrowers Are Owed Interest

A new class action lawsuit filed in U.S. District Court for the Eastern District of New York on Aug. 7, 2018 alleges that Bank of America routinely ignores mortgage escrow account rules. Plaintiff Alex C. is a citizen of New York State and a resident of Queens Village. He is seeking to hold the financial giant accountable for their alleged failure to pay interest on escrow accounts that are often a condition of receiving financing for a...

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Hedge Fund Puts $150 Million to Invest in Homes on Startup Point

Hedge Fund Puts $150 Million to Invest in Homes on Startup Point

A startup that buys equity in American homes just got its largest financial commitment to date through a $150 million boost from a New York hedge fund, amid rising home prices that are fueling demand for home-equity products. Point Digital Finance Inc. lends capital to people and receives partial ownership in their homes in return. The three-year-old startup targets customers who are seeking an alternative to traditional loans. Atalaya Capital...

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Google’s $2.5B deal for Chelsea Market is second-largest ever in NYC

Google’s $2.5B deal for Chelsea Market is second-largest ever in NYC

Just call it Alphabet Alley. Google, whose parent company is now named Alphabet, is buying everyone’s favorite Chelsea Market from Jamestown for a price that sources say will hit — if not top — an astounding $2.5 billion. At that altitude, the deal will become the second-largest full single-asset sale ever in the Big Apple. The $2.8 billion sale of the GM Building in 2007 is No. 1. Google previously bought 111 Eighth Ave. in...

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Global Stock of Investable Commercial Real Estate Stands at $27.5 Trillion

Global Stock of Investable Commercial Real Estate Stands at $27.5 Trillion

New York, London and Dallas are World’s Most ‘Liquid’ Markets in 2017 According to CBRE, Tokyo, New York and Los Angeles are the world’s largest commercial real estate investment markets, with the global stock of investable commercial real estate assets standing at $27.5 trillion. CBRE examined the relationship between city market size and capital flows into real estate for 122 cities around the world. The research found...

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