The Simon Konover Company’s Post

In a recent San Diego Business Journal article on the temporary slowdown in the luxury apartment construction market, Peter Jones, NCARB, Project Director of Project Management Advisors, Inc. discusses the slight oversupply in the market. While there are many new projects currently completing, demand remains strong in areas like Little Italy and UTC, and Hillcrest, Bankers Hill, and North Park are also expected to see increased activity. "In general, anywhere you have these real walkable areas with amenities such as Balboa Park and restaurants, luxury demand is going to be there," Jones said. Check out the full article below: #sandiego #luxurymultifamily #multifamily #realestate #pma

Property in York

With #office demand on the decline in #SanAntonio, developers decided to convert the historic #TravisBuilding into multifamily housing. See the results: https://xmrrwallet.com/cmx.plnkd.in/g4S-YeT9 #FM #FacilityManager #PropertyManagement #RealEstate #CRE #BUILDINGS #BuildingsMagazine #BuildingsMedia

FOR SALE: 12028-12034 Venice Blvd, Los Angeles, CA 90066 Price: $6,900,000 Building Size: +/-62,000 Sq.Ft. Lot Size: 16,420 Sq.Ft. Proposed Buildable Units: 73 Price Per Buildable Door: $94,520 Maher Commercial Realty is proud to present for sale a 73-unit mixed-use Project in the downtown Mar Vista submarket of West LA. Built to an unprecedented eight stories, the finished project should offer unobstructed views on all sides starting on the 3rd floor up to the rooftop deck. The Project has all but 1 item needed to file for a ministerial entitlement that is exempt from CEQA. The project will be +/-62,000 SF of building spread out over 73 units (60 Units +13 ADUs); 66 Units will be Market Rate with only 7 VLI required. With 14 two-bedroom units and 59 one-bedroom units, build it and the tenants will come to enjoy the ocean-view rooftop deck. Sharing the same block as the Mar Vista Farmer’s Market each Sunday, the property is surrounded by shops, nightlife, casual and fine dining. Mar Vista sits comfortably between Venice and Culver City with direct access to the 405 freeway just a few blocks east. This is an "A" location for a new multifamily development. The Project is clear of power line issues and has no encroachment interferences. The proposed project is statutorily exempt from CEQA and the entitlement is to be ministerial approved. While this is primarily a market rate project, the approval process is expedited similarly to the ED1 process for 100% affordable projects. By simultaneously engaging with City Planning and LADBS, a developer could foreseeably break ground within 12 months, much faster than a 100% market rate or TOC project. Contact Oron Maher or Jeremy Shore for more information. #maherrealty #mahercommercialrealty #commercialrealestate #losangeles #losangelescommercialrealestate #DTLA #realestate #la #tradedla #cre #forsale #justlisted #marvista

Central London’s super prime residential development market is one that Rupert des Forges, Proprietary Partner at Knight Frank, knows intimately. As featured in the Financial Times, Rupert discusses how larger new apartments (above 200 sqm), as found at Almacantar's super prime development, The Bryanston, have become a restricted asset class, a commodity that in many areas of prime central London is no permitted under new planning laws. Knight Frank's research team estimate that the volume of new units available for purchase above £3,000 psf, in prime central London, will fall from 585 today to just 39 by 2027. https://xmrrwallet.com/cmx.plnkd.in/eNF5PNmQ

Latest property and construction news…..   Thirteen landmark buildings in the West Midlands are on Historic England’s Heritage at Risk list. The buildings include Kings Norton Old Grammar School and Tamworth Castle.   The first phase of New Garden Square’s scheme off Hagley Road in Edgbaston called Loundon’s Yard, has reached practical completion. Delivered by Moda Living, 398 to-rent apartments with co-working space, a gym, private dining space and a communal garden feature in the development. The second phase of the project has already received planning permission and will see a further 462 to-rent apartments being added with a rooftop terrace.   Zoopla is predicting house sale increases of 5% next year. The number of house sales completions this year are expected to finish ten percent above last year. Property values are anticipated to increase by an average of 2.5% in 2025. Midland house prices are expected to outperform the UK average.   The Mclaren building on Priory Queensway is to undergo a major refurbishment. The building opened in 1972 and will see a £2.4m investment. A gym, meditation room and bicycle storage space will be added along with new serviced offices.   Birmingham City Council’s planning committee has rejected plans for a three-building housing development to go ahead on Bristol Street. The proposal was to construct 550 to-rent apartments but concerns were expressed by committee members about the mix of accommodation, the design and heritage building concerns.   #property #construction #housing

Aimco’s waterfront office tower and adjacent apartment building in Brickell hit the market for roughly $650 million, marketed as a possible redevelopment opportunity. The Denver-based real estate investment trust wants to sell the 32-story Brickell Bay Office Tower at 1001 Brickell Bay Drive and the 31-story, 357-unit Yacht Club Apartments at 1111 Brickell Bay Drive, according to a news release from the listing brokers and Aimco’s annual earnings report filed to the Securities and Exchange Commission. A source confirmed the target price is about $650 million. The 4.3-acre site could be redeveloped with multiple supertalls with a total of more than 3.1 million square feet, the release says. By-right uses include condos, hotel keys, offices, retail or a combination of these.  Source: The Real Deal ° ° ° #miamitrendyrealty #giovannagonzalez #puertorico #boricuas #miamicondos #miamihomes #miamirealestate #miamirealtor #movetomiami #floridarealestate #luxuryhomes #luxuryrealestate #miami #florida #brickell #news #miaminews #brickellnews #aimco 

Multifamily Opportunity – 8-Unit Property in Coalinga, California Hey buyers! Here’s a multifamily opportunity for anyone looking to invest in California. Property Details: • Location: 130 Fillmore St, Coalinga, CA • Price: $1,199,000 • Units: 8 (6 x 2-bed/1-bath, 2 x 1-bed/1-bath) • Upgrades: Recently remodeled interiors, energy-efficient windows, 1-year-old roof, coin-operated laundry, and private storage for tenants. Why This Property Stands Out: • Turnkey Condition: Updated units and major systems minimize immediate repair costs. • Strong Cash Flow Potential: Great opportunity for steady rental income. • Zoning Flexibility: R3 zoning could allow for additional units or future redevelopment (verify with local regulations). https://xmrrwallet.com/cmx.plnkd.in/gU9ygp3S

PRICE REDUCED: 12028-12034 Venice Blvd, Los Angeles, CA 90066 Price: $6,295,000 Building Size: +/-62,000 Sq.Ft. Lot Size: 16,420 Sq.Ft. Proposed Buildable Units: 73 Price Per Buildable Door: $86,232 Maher Commercial Realty is proud to present for sale a 73-unit mixed-use Project in the downtown Mar Vista submarket of West LA. Built to an unprecedented eight stories, the finished project should offer unobstructed views on all sides starting on the 3rd floor up to the rooftop deck. The Project has all but 1 item needed to file for a ministerial entitlement that is exempt from CEQA. The project will be +/-62,000 SF of building spread out over 73 units (60 Units +13 ADUs); 66 Units will be Market Rate with only 7 VLI required. With 14 two-bedroom units and 59 one-bedroom units, build it and the tenants will come to enjoy the ocean-view rooftop deck. Sharing the same block as the Mar Vista Farmer’s Market each Sunday, the property is surrounded by shops, nightlife, casual and fine dining. Mar Vista sits comfortably between Venice and Culver City with direct access to the 405 freeway just a few blocks east. This is an "A" location for a new multifamily development. The Project is clear of power line issues and has no encroachment interferences. The proposed project is statutorily exempt from CEQA and the entitlement is to be ministerial approved. While this is primarily a market rate project, the approval process is expedited similarly to the ED1 process for 100% affordable projects. By simultaneously engaging with City Planning and LADBS, a developer could foreseeably break ground within 12 months, much faster than a 100% market rate or TOC project. Contact Oron Maher or Jeremy Shore for more information. #maherrealty #mahercommercialrealty #commercialrealestate #losangeles #losangelescommercialrealestate #DTLA #realestate #la #tradedla #cre #forsale #marvista

Vista Point Development on West New York Waterfront Moves Forward By Chris Fry One of the last remaining vacant lots along Port Imperial is slated to house a new multi-family complex as two developers are teaming up for the latest endeavor along the West New York waterfront. Toll Brothers City Living and Daiwa House have announced a joint venture for developing a new luxury condominium community that will be known as Vista Pointe. The project is situated at 8 Avenue at Port Imperial at a sizable parcel located just in front of Nine on the Hudson. Vista Pointe is poised to become a nine-story, 73-unit luxury condominium community that includes one- to four-bedroom residences. The sizes of these for-sale units will range from 988 to 2,235 square feet. Planned amenities at the complex include 11,000 square feet of indoor space consisting of a 24-hour staffed lobby, a residents’ lounge with a dining room and catering kitchen, a game room, fitness center, screening room, children’s playroom, and maker space. According to the Hudson Reporter, West New York approved what will become Vista Pointe in 2021. The following year, township officials granted the project a 20-year tax abatement. The companies did not announce any potential timeline as to when construction could begin at the property, which already has a waterfront walkway built to the east along the Hudson River. #westnewyork #waterfront #vistapoint