September 2023

The Daily Dirt: Domino Park office searches for anchor tenant – Robert Khodadadian

Two Trees revealed its ambitious office building at the old Domino Sugar Refinery factory, part of a mixed-used megaproject on the Williamsburg waterfront. 

When Two Trees purchased the site in 2012 for $185 million, it was set for a condo development. But the firm made the decision to transition a good chunk of the project to office. However risky that move seemed in 2012, it’s started to look much worse in recent years, especially now that the building has opened its doors without an anchor tenant.

The building does have a few things going for it, though.

A rendering of the Domino Sugar Factory offices (The Refinery at Domino)

As we covered last week, true Class A office — what some would call Trophy class — has fared much better than the rest of the market. The brand-new space fits the Class A mold better than most in the area. Asking rents reflect that, with a price per square foot from the high $70s to the high $90s, according to Commercial Observer. 

Also worth noting: it’s beautiful. The 460,000-square-foot glass tower is nestled inside the brick exoskeleton of the 150-year-old Domino Sugar factory, complete with a retro-looking sign and breathtaking views of Manhattan. New York Magazine’s architecture critic Justin Davidson called it, simply, “a great work of architecture.” 

How much that beautiful design is worth remains to be seen, especially given its location in Williamsburg. Office leasing in Brooklyn has been falling fast. 

For now, the building is poised to act as a barometer of the market for new office developments, especially those sitting outside the traditional powerhouses of Midtown and the Financial District.

 —

What we’re thinking about: It’s been a huge week for Related at Hudson Yards. Credit agencies boosted the rating for construction bonds tied to the project. Perhaps more importantly, the company sold a soon-to-be converted retail space to Wells Fargo for $550 million. The deal has raised eyebrows across the industry. It’s certainly a strong vote of confidence for Hudson Yards and the market for high-end office space. What are your impressions of the deal? Send a note to david.westenhaver@therealdeal.com.

—

Closing Time

Residential: The priciest residential closing Friday was $10.5 million for a co-op at 1050 Fifth Avenue on the Upper East Side.

Commercial: The most expensive commercial closing of the day was $15 million for a rental building at 157-59 Wythe Avenue in Williamsburg.

New to the Market 

The priciest residence to hit the market Friday was a condo at 551 West 21st Street in West Chelsea asking $40 million. Douglas Elliman has the listing.

—

A thing we’ve learned: This September has been the second-wettest in New York City history. For most of the month, the rain has been little more than a damper on the city’s spirits. Now, it’s causing major delays to transit service. Gov. Kathy Hochul and Mayor Adams both declared a state of emergency.

Elsewhere in New York

— A government shutdown could kick off this Sunday, as federal officials butt heads over a budget. A shutdown could impact millions of New Yorkers, Gothamist reports, from the 1.7 million people receiving food aid to the tens of thousands of government employees living and working in the city.
— A Manhattan judge ruled in favor of a city law requiring food delivery services to pay workers at least $17.96 an hour. The ruling is (obviously) a huge win for delivery workers, who earn $11 an hour on average, according to The City.

The post The Daily Dirt: Domino Park office searches for anchor tenant appeared first on The Real Deal.

Two Trees revealed its ambitious office building at the old Domino Sugar Refinery factory, part of a mixed-used megaproject on the Williamsburg waterfront.  When Two Trees purchased the site in 2012 for $185 million, it was set for a condo development. But the firm made the decision to transition a good chunk of the project
The post The Daily Dirt: Domino Park office searches for anchor tenant appeared first on The Real Deal.  Uncategorized, Daily Dirt 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

JLL manager looks to be crowned Miss USA – Robert Khodadadian

Some real estate professionals take time off to travel, others spend time with family and friends.

But Savena Mushinge, a transaction manager at JLL, is taking a week to compete in the Miss USA competition, BisNow reported. She qualified for the competition by winning the Miss Maryland USA pageant in April.

By day, Mushinge manages leases for the U.S. Postal Service facilities, working on numerous deals from JLL’s D.C. office. And she spends part of her life competing in scholarship competitions.

The upcoming Miss USA competition involves rehearsals, interviews with judges, social media and TV appearances, meet-and-greets, swimsuit and ballgown segments, and onstage questions. The final will be broadcast on the CW.

“You’ve got various amazing women. And so you really have to know yourself and know what you’re bringing to the table and what makes you stand out,” she told the outlet. “And I think the most challenging part is really knowing who you are because I think the judges are going to be able to pick up on that very quickly.”

She was born in Zambia and came to the U.S. when she was 13; her family’s involvement in real estate, buying and flipping houses, sparked her interest in the field.

Now, Mushinge aims to mentor others, especially women and people of color, to help diversify her profession.

In addition to her busy career and competing the Miss USA pageant, she serves as a health and wellness advocate for JLL, runs her charity, the Daughters Pride Foundation, and acts as a tourism ambassador for Zambia.

“I remember arriving to this country and the first thing that comes to mind is for whatever reason, it did not get dark,” she told the outlet. “The sun was out longer. It was 8:45 [p.m.], and it’s still bright as day outside. And ever since that day, I feel being in this country, my life has only gotten brighter, has only gotten better.”

Mushinge isn’t the only real estate professional with an unusual, high-profile pursuit outside of work.

Matija Pecotic, who is the director of capital markets for Wexford Real Estate Investors in Palm Beach, Florida, lived his dream in February when he took part in the Delray Beach Open tennis tournament.

The 33-year-old, who is ranked 784th in the world, ultimately fell in straight sets to No. 55 Marcos Giron, but not before creating some lifelong memories.

He got into the tournament as an alternate and a slot opened up. Earlier this year, he won three qualifying matches, including one over Jack Sock, who had once been ranked in the top 10 in the world and won the Delray Beach Open in 2017.

“Hopefully this has shown that I can play at a high level,” Pecotic told Bloomberg News. “I’ve actually never gotten a wild card to any event in my life — all my results have been meritocratic, so if this leads to opportunities at other big events, I would consider putting Wexford on pause, I wouldn’t quit.”

— Ted Glanzer

The post JLL manager looks to be crowned Miss USA appeared first on The Real Deal.

Some real estate professionals take time off to travel, others spend time with family and friends. But Savena Mushinge, a transaction manager at JLL, is taking a week to compete in the Miss USA competition, BisNow reported. She qualified for the competition by winning the Miss Maryland USA pageant in April. By day, Mushinge manages
The post JLL manager looks to be crowned Miss USA appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, commercial real estate Companies: JLL 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

Departed: Mark Wahlberg flips Las Vegas home for $17M – Robert Khodadadian

Mark Wahlberg didn’t spend too many “Boogie Nights” at his Las Vegas home before deciding to boogie away.

The movie star sold a townhouse in the suburb of Summerlin to a limited liability company for $16.6 million, the Las Vegas Review-Journal reported. The two-story, 7,300-square-foot home is in The Summit Club, a private community.

Wahlberg has talked a ton about moving his family to Las Vegas and turning it into a mecca for film production. His $14.5 million purchase of the townhouse last August exemplified him walking the walk.

While it may seem odd for Wahlberg to suddenly flip the home in Las Vegas he owned for 13 months, the city hasn’t seen the last of the multihyphenate. The Summit Club hasn’t seen the last of him either, as Wahlberg owns 2.5 acres in the same community, buying the land for $15.6 million before the townhouse purchase; he may be looking to build a mansion of his own on that plot.

The anonymous buyer is getting much more than a two-story townhouse. They are also getting access to all of the amenities at the Summit Club, which includes a golf course, 24-hour security, wellness and recreation programs, snack stations, tennis courts and of course, pickleball courts.

This year, Wahlberg and his wife, Rhea Durham, also sold their 30,500-square-foot mansion in Beverly Park, California for $55 million. That sum was $32.5 million below what the couple asked for the property when they put it on the market in April 2022 for $87.5 million; the Hollywood A-lister and his model wife bought the property for $8.2 million in 2009 before building their own mega-compound.

Wahlberg, a Boston native, is best known for his roles in movies such as “Boogie Nights,” “The Departed,” “The Fighter” and “Ted.” He was also a member of Marky Mark and the Funky Bunch in the 1990s, best known for their smash hit, “Good Vibrations.”

— Holden Walter-Warner

Read more

The post Departed: Mark Wahlberg flips Las Vegas home for $17M appeared first on The Real Deal.

Mark Wahlberg didn’t spend too many “Boogie Nights” at his Las Vegas home before deciding to boogie away. The movie star sold a townhouse in the suburb of Summerlin to a limited liability company for $16.6 million, the Las Vegas Review-Journal reported. The two-story, 7,300-square-foot home is in The Summit Club, a private community. Wahlberg
The post Departed: Mark Wahlberg flips Las Vegas home for $17M appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, Las Vegas, Luxury Real Estate 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

Barstool’s Dave Portnoy buys Nantucket home for state-record $42M – Robert Khodadadian

El Presidente has a new palace from which to rule.

Dave Portnoy, the polarizing founder of Barstool Sports and pizza maven, recently bought a luxe Nantucket compound for a record-breaking $42 million, the Wall Street Journal reported.

This off-market sale is the highest not only in Nantucket, but the state of Massachusetts, where the previous record was $38.1 million, which was set just a few months ago. The deal included additional $2 million worth of furnishings and other items, the outlet reported   

Shellie Dunlap of Lee Real Estate, represented the sellers, identified only as  known as the MAK Daddy Trust and MAK Shack Trust, while Peter Engen of Lee Real Estate, represented Portnoy.

The 1.2-acre property, located in the Monomoy area, sprawls along the Nantucket Harbor waterfront. The owners bought two parcels in 2016 for a combined $13.3 million and custom-built the compound following the demolition of two existing homes. 

The property now has a main residence designed by Andrew Kotchen of Workshop/APD, with  four bedrooms and a primary suite with an indoor-outdoor shower and spectacular harbor views. The compound also includes a pool area and guest quarters, accessible via an underground tunnel. 

Portnoy, who is from Massachusetts, has previously invested in Nantucket real estate, having bought a property for around $2 million. He recently reacquired Barstool for $550 million after selling it to Penn Entertainment. He’s also known for appearing in headlines nearly as much as his media company generates them. In 2021, he faced allegations of sexual misconduct from several women, which he denied.

He’s also been accused of making misogynistic, sexist and racist harassing comments, which he has passed off as jokes, according to the Washington Post. 

At the same time, he’s developed several wildly popular brands, including Barstool and the “One Bite Pizza Reviews,” which he spun off into a festival that took place last weekend. He also has a rabid fanbase, known as Stoolies. His reviews can boost restaurant revenue up to 50 percent, the WaPo said, and a fund he created to support restaurants and small businesses during the pandemic raised millions of dollars.

He’s also fond of buying beach homes. 

In 2022, he bought a beach house in the Hamptons for $9.75 million.

The home sits on nearly a full acre of land, and the property includes a pool and a view of the ocean.

Compass’ Matt Breitenbach and Greg Gould represented both the buyer and seller in the off-market deal. Both declined requests for comment from The Real Deal on the transaction.

In 2021, he bought a bayfront Miami home for $14 million, a record for the city’s Morningside neighborhood.

That home is about 6,100 square feet in size, built in 1939 on a 1-acre lot. It also includes a pool, as well as nine bedrooms and eight-and-a-half bathrooms.

— Ted Glanzer

The post Barstool’s Dave Portnoy buys Nantucket home for state-record $42M appeared first on The Real Deal.

El Presidente has a new palace from which to rule. Dave Portnoy, the polarizing founder of Barstool Sports and pizza maven, recently bought a luxe Nantucket compound for a record-breaking $42 million, the Wall Street Journal reported. This off-market sale is the highest not only in Nantucket, but the state of Massachusetts, where the previous
The post Barstool’s Dave Portnoy buys Nantucket home for state-record $42M appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, Luxury Real Estate, Massachusetts, Nantucket 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

JOCO’s fireproof cabinets offer solution for e-bike battery fires  – Robert Khodadadian

Deadly fires caused by e-bikes’ lithium ion batteries have set off attempts to regulate the vehicles by multifamily buildings and politicians.

In New York, where delivery workers and other residents have embraced e-bike use since their legalization in 2020, fires have caused 74 injuries and 13 deaths as of July 3, TechCrunch reported, citing statistics from the Fire Department of New York. That is twice as many deaths than in all of 2022 and three times the number from 2021.

That sounded like a problem to the co-founders of JOCO, which operates an e-bike rideshare company. JOCO, founded by two men named Jonathan Cohenm, will now offer fireproof cabinets to store lithium ion batteries. 

“It’s becoming increasingly more important,” said one of the Jonathan Cohens, who is from London. “They’re the fastest selling electric vehicle period, faster than electric cars. These buildings have to figure out how to accommodate them.”

Damaged or poorly manufactured batteries caused most of the blazes. Delivery workers, who on average make below the minimum wage, often buy cheap or second-hand batteries because those that are certified can cost up to $1,000. In September, a law went into effect in New York City that requires all sales and rentals of e-bikes to meet certain safety standards.

JOCO had incentive to find a solution. The company aims its service at delivery workers and has more than 60 locations across New York, Chicago and Miami.

“Our mission is to remove cars and trucks from streets for last-mile delivery,” the other Cohen, who is based in New York, said. “When you consider tickets, gas, delivery, it’s more favorable to not use them. We’re becoming a great option in a safe and sustainable manner. We saw the whole e-bike-fire issue coming and we produced proprietary fireproof cabinets.”

The firm has also drawn scrutiny for running afoul of local safety regulations. In July, the city fined JOCO and Grubhub nearly $6,500 for having 60 uncertified lithium ion batteries at a SoHo e-bike charging station, according to The City.

The cabinets range from $5,000 to $20,000 depending on their size and quality. To use one, an e-bike rider removes the battery from the bike, connects the battery to a cabinet slot and closes the door. 

“Once the doors are shut, should anything happen, everything is contained in the cabinet,” the New York Cohen said. 

The fire department gave its seal of approval with a “Letter of No Objection,” making JOCO the first New York-based company to receive it and the second company in the marketplace to receive it, according to the Cohens.

The Cohens say there are two markets for the cabinets: delivery companies like Grubhub, Orbital Kitchens and Gopuff, and residential and office building owners whose tenants ride e-bikes.

“Banning e-bikes is not the only option; storing them safely is an even better option,” the Cohens said in a statement.

The post JOCO’s fireproof cabinets offer solution for e-bike battery fires  appeared first on The Real Deal.

Deadly fires caused by e-bikes’ lithium ion batteries have set off attempts to regulate the vehicles by multifamily buildings and politicians. In New York, where delivery workers and other residents have embraced e-bike use since their legalization in 2020, fires have caused 74 injuries and 13 deaths as of July 3, TechCrunch reported, citing statistics
The post JOCO’s fireproof cabinets offer solution for e-bike battery fires  appeared first on The Real Deal.  Uncategorized, Climate Change, ebikes, multifamily amenities, office amenities, Sustainability, Transportation 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

The Daily Dirt: Domino Park office searches for anchor tenant – Robert Khodadadian

Two Trees revealed its ambitious office building at the old Domino Sugar Refinery factory, part of a mixed-used megaproject on the Williamsburg waterfront. 

When Two Trees purchased the site in 2012 for $185 million, it was set for a condo development. But the firm made the decision to transition a good chunk of the project to office. However risky that move seemed in 2012, it’s started to look much worse in recent years, especially now that the building has opened its doors without an anchor tenant.

The building does have a few things going for it, though.

A rendering of the Domino Sugar Factory offices (The Refinery at Domino)

As we covered last week, true Class A office — what some would call Trophy class — has fared much better than the rest of the market. The brand-new space fits the Class A mold better than most in the area. Asking rents reflect that, with a price per square foot from the high $70s to the high $90s, according to Commercial Observer. 

Also worth noting: it’s beautiful. The 460,000-square-foot glass tower is nestled inside the brick exoskeleton of the 150-year-old Domino Sugar factory, complete with a retro-looking sign and breathtaking views of Manhattan. New York Magazine’s architecture critic Justin Davidson called it, simply, “a great work of architecture.” 

How much that beautiful design is worth remains to be seen, especially given its location in Williamsburg. Office leasing in Brooklyn has been falling fast. 

For now, the building is poised to act as a barometer of the market for new office developments, especially those sitting outside the traditional powerhouses of Midtown and the Financial District.

 —

What we’re thinking about: It’s been a huge week for Related at Hudson Yards. Credit agencies boosted the rating for construction bonds tied to the project. Perhaps more importantly, the company sold a soon-to-be converted retail space to Wells Fargo for $550 million. The deal has raised eyebrows across the industry. It’s certainly a strong vote of confidence for Hudson Yards and the market for high-end office space. What are your impressions of the deal? Send a note to david.westenhaver@therealdeal.com.

—

Closing Time

Residential: The priciest residential closing Friday was $10.5 million for a co-op at 1050 Fifth Avenue on the Upper East Side.

Commercial: The most expensive commercial closing of the day was $15 million for a rental building at 157-59 Wythe Avenue in Williamsburg.

New to the Market 

The priciest residence to hit the market Friday was a condo at 551 West 21st Street in West Chelsea asking $40 million. Douglas Elliman has the listing.

—

A thing we’ve learned: This September has been the second-wettest in New York City history. For most of the month, the rain has been little more than a damper on the city’s spirits. Now, it’s causing major delays to transit service. Gov. Kathy Hochul and Mayor Adams both declared a state of emergency.

Elsewhere in New York

— A government shutdown could kick off this Sunday, as federal officials butt heads over a budget. A shutdown could impact millions of New Yorkers, Gothamist reports, from the 1.7 million people receiving food aid to the tens of thousands of government employees living and working in the city.
— A Manhattan judge ruled in favor of a city law requiring food delivery services to pay workers at least $17.96 an hour. The ruling is (obviously) a huge win for delivery workers, who earn $11 an hour on average, according to The City.

The post The Daily Dirt: Domino Park office searches for anchor tenant appeared first on The Real Deal.

Two Trees revealed its ambitious office building at the old Domino Sugar Refinery factory, part of a mixed-used megaproject on the Williamsburg waterfront.  When Two Trees purchased the site in 2012 for $185 million, it was set for a condo development. But the firm made the decision to transition a good chunk of the project
The post The Daily Dirt: Domino Park office searches for anchor tenant appeared first on The Real Deal.  Uncategorized, Daily Dirt 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

JLL manager looks to be crowned Miss USA – Robert Khodadadian

Some real estate professionals take time off to travel, others spend time with family and friends.

But Savena Mushinge, a transaction manager at JLL, is taking a week to compete in the Miss USA competition, BisNow reported. She qualified for the competition by winning the Miss Maryland USA pageant in April.

By day, Mushinge manages leases for the U.S. Postal Service facilities, working on numerous deals from JLL’s D.C. office. And she spends part of her life competing in scholarship competitions.

The upcoming Miss USA competition involves rehearsals, interviews with judges, social media and TV appearances, meet-and-greets, swimsuit and ballgown segments, and onstage questions. The final will be broadcast on the CW.

“You’ve got various amazing women. And so you really have to know yourself and know what you’re bringing to the table and what makes you stand out,” she told the outlet. “And I think the most challenging part is really knowing who you are because I think the judges are going to be able to pick up on that very quickly.”

She was born in Zambia and came to the U.S. when she was 13; her family’s involvement in real estate, buying and flipping houses, sparked her interest in the field.

Now, Mushinge aims to mentor others, especially women and people of color, to help diversify her profession.

In addition to her busy career and competing the Miss USA pageant, she serves as a health and wellness advocate for JLL, runs her charity, the Daughters Pride Foundation, and acts as a tourism ambassador for Zambia.

“I remember arriving to this country and the first thing that comes to mind is for whatever reason, it did not get dark,” she told the outlet. “The sun was out longer. It was 8:45 [p.m.], and it’s still bright as day outside. And ever since that day, I feel being in this country, my life has only gotten brighter, has only gotten better.”

Mushinge isn’t the only real estate professional with an unusual, high-profile pursuit outside of work.

Matija Pecotic, who is the director of capital markets for Wexford Real Estate Investors in Palm Beach, Florida, lived his dream in February when he took part in the Delray Beach Open tennis tournament.

The 33-year-old, who is ranked 784th in the world, ultimately fell in straight sets to No. 55 Marcos Giron, but not before creating some lifelong memories.

He got into the tournament as an alternate and a slot opened up. Earlier this year, he won three qualifying matches, including one over Jack Sock, who had once been ranked in the top 10 in the world and won the Delray Beach Open in 2017.

“Hopefully this has shown that I can play at a high level,” Pecotic told Bloomberg News. “I’ve actually never gotten a wild card to any event in my life — all my results have been meritocratic, so if this leads to opportunities at other big events, I would consider putting Wexford on pause, I wouldn’t quit.”

— Ted Glanzer

The post JLL manager looks to be crowned Miss USA appeared first on The Real Deal.

Some real estate professionals take time off to travel, others spend time with family and friends. But Savena Mushinge, a transaction manager at JLL, is taking a week to compete in the Miss USA competition, BisNow reported. She qualified for the competition by winning the Miss Maryland USA pageant in April. By day, Mushinge manages
The post JLL manager looks to be crowned Miss USA appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, commercial real estate Companies: JLL 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

Departed: Mark Wahlberg flips Las Vegas home for $17M – Robert Khodadadian

Mark Wahlberg didn’t spend too many “Boogie Nights” at his Las Vegas home before deciding to boogie away.

The movie star sold a townhouse in the suburb of Summerlin to a limited liability company for $16.6 million, the Las Vegas Review-Journal reported. The two-story, 7,300-square-foot home is in The Summit Club, a private community.

Wahlberg has talked a ton about moving his family to Las Vegas and turning it into a mecca for film production. His $14.5 million purchase of the townhouse last August exemplified him walking the walk.

While it may seem odd for Wahlberg to suddenly flip the home in Las Vegas he owned for 13 months, the city hasn’t seen the last of the multihyphenate. The Summit Club hasn’t seen the last of him either, as Wahlberg owns 2.5 acres in the same community, buying the land for $15.6 million before the townhouse purchase; he may be looking to build a mansion of his own on that plot.

The anonymous buyer is getting much more than a two-story townhouse. They are also getting access to all of the amenities at the Summit Club, which includes a golf course, 24-hour security, wellness and recreation programs, snack stations, tennis courts and of course, pickleball courts.

This year, Wahlberg and his wife, Rhea Durham, also sold their 30,500-square-foot mansion in Beverly Park, California for $55 million. That sum was $32.5 million below what the couple asked for the property when they put it on the market in April 2022 for $87.5 million; the Hollywood A-lister and his model wife bought the property for $8.2 million in 2009 before building their own mega-compound.

Wahlberg, a Boston native, is best known for his roles in movies such as “Boogie Nights,” “The Departed,” “The Fighter” and “Ted.” He was also a member of Marky Mark and the Funky Bunch in the 1990s, best known for their smash hit, “Good Vibrations.”

— Holden Walter-Warner

Read more

The post Departed: Mark Wahlberg flips Las Vegas home for $17M appeared first on The Real Deal.

Mark Wahlberg didn’t spend too many “Boogie Nights” at his Las Vegas home before deciding to boogie away. The movie star sold a townhouse in the suburb of Summerlin to a limited liability company for $16.6 million, the Las Vegas Review-Journal reported. The two-story, 7,300-square-foot home is in The Summit Club, a private community. Wahlberg
The post Departed: Mark Wahlberg flips Las Vegas home for $17M appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, Las Vegas, Luxury Real Estate 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

Barstool’s Dave Portnoy buys Nantucket home for state-record $42M – Robert Khodadadian

El Presidente has a new palace from which to rule.

Dave Portnoy, the polarizing founder of Barstool Sports and pizza maven, recently bought a luxe Nantucket compound for a record-breaking $42 million, the Wall Street Journal reported.

This off-market sale is the highest not only in Nantucket, but the state of Massachusetts, where the previous record was $38.1 million, which was set just a few months ago. The deal included additional $2 million worth of furnishings and other items, the outlet reported   

Shellie Dunlap of Lee Real Estate, represented the sellers, identified only as  known as the MAK Daddy Trust and MAK Shack Trust, while Peter Engen of Lee Real Estate, represented Portnoy.

The 1.2-acre property, located in the Monomoy area, sprawls along the Nantucket Harbor waterfront. The owners bought two parcels in 2016 for a combined $13.3 million and custom-built the compound following the demolition of two existing homes. 

The property now has a main residence designed by Andrew Kotchen of Workshop/APD, with  four bedrooms and a primary suite with an indoor-outdoor shower and spectacular harbor views. The compound also includes a pool area and guest quarters, accessible via an underground tunnel. 

Portnoy, who is from Massachusetts, has previously invested in Nantucket real estate, having bought a property for around $2 million. He recently reacquired Barstool for $550 million after selling it to Penn Entertainment. He’s also known for appearing in headlines nearly as much as his media company generates them. In 2021, he faced allegations of sexual misconduct from several women, which he denied.

He’s also been accused of making misogynistic, sexist and racist harassing comments, which he has passed off as jokes, according to the Washington Post. 

At the same time, he’s developed several wildly popular brands, including Barstool and the “One Bite Pizza Reviews,” which he spun off into a festival that took place last weekend. He also has a rabid fanbase, known as Stoolies. His reviews can boost restaurant revenue up to 50 percent, the WaPo said, and a fund he created to support restaurants and small businesses during the pandemic raised millions of dollars.

He’s also fond of buying beach homes. 

In 2022, he bought a beach house in the Hamptons for $9.75 million.

The home sits on nearly a full acre of land, and the property includes a pool and a view of the ocean.

Compass’ Matt Breitenbach and Greg Gould represented both the buyer and seller in the off-market deal. Both declined requests for comment from The Real Deal on the transaction.

In 2021, he bought a bayfront Miami home for $14 million, a record for the city’s Morningside neighborhood.

That home is about 6,100 square feet in size, built in 1939 on a 1-acre lot. It also includes a pool, as well as nine bedrooms and eight-and-a-half bathrooms.

— Ted Glanzer

The post Barstool’s Dave Portnoy buys Nantucket home for state-record $42M appeared first on The Real Deal.

El Presidente has a new palace from which to rule. Dave Portnoy, the polarizing founder of Barstool Sports and pizza maven, recently bought a luxe Nantucket compound for a record-breaking $42 million, the Wall Street Journal reported. This off-market sale is the highest not only in Nantucket, but the state of Massachusetts, where the previous
The post Barstool’s Dave Portnoy buys Nantucket home for state-record $42M appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, Luxury Real Estate, Massachusetts, Nantucket 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

JOCO’s fireproof cabinets offer solution for e-bike battery fires  – Robert Khodadadian

Deadly fires caused by e-bikes’ lithium ion batteries have set off attempts to regulate the vehicles by multifamily buildings and politicians.

In New York, where delivery workers and other residents have embraced e-bike use since their legalization in 2020, fires have caused 74 injuries and 13 deaths as of July 3, TechCrunch reported, citing statistics from the Fire Department of New York. That is twice as many deaths than in all of 2022 and three times the number from 2021.

That sounded like a problem to the co-founders of JOCO, which operates an e-bike rideshare company. JOCO, founded by two men named Jonathan Cohenm, will now offer fireproof cabinets to store lithium ion batteries. 

“It’s becoming increasingly more important,” said one of the Jonathan Cohens, who is from London. “They’re the fastest selling electric vehicle period, faster than electric cars. These buildings have to figure out how to accommodate them.”

Damaged or poorly manufactured batteries caused most of the blazes. Delivery workers, who on average make below the minimum wage, often buy cheap or second-hand batteries because those that are certified can cost up to $1,000. In September, a law went into effect in New York City that requires all sales and rentals of e-bikes to meet certain safety standards.

JOCO had incentive to find a solution. The company aims its service at delivery workers and has more than 60 locations across New York, Chicago and Miami.

“Our mission is to remove cars and trucks from streets for last-mile delivery,” the other Cohen, who is based in New York, said. “When you consider tickets, gas, delivery, it’s more favorable to not use them. We’re becoming a great option in a safe and sustainable manner. We saw the whole e-bike-fire issue coming and we produced proprietary fireproof cabinets.”

The firm has also drawn scrutiny for running afoul of local safety regulations. In July, the city fined JOCO and Grubhub nearly $6,500 for having 60 uncertified lithium ion batteries at a SoHo e-bike charging station, according to The City.

The cabinets range from $5,000 to $20,000 depending on their size and quality. To use one, an e-bike rider removes the battery from the bike, connects the battery to a cabinet slot and closes the door. 

“Once the doors are shut, should anything happen, everything is contained in the cabinet,” the New York Cohen said. 

The fire department gave its seal of approval with a “Letter of No Objection,” making JOCO the first New York-based company to receive it and the second company in the marketplace to receive it, according to the Cohens.

The Cohens say there are two markets for the cabinets: delivery companies like Grubhub, Orbital Kitchens and Gopuff, and residential and office building owners whose tenants ride e-bikes.

“Banning e-bikes is not the only option; storing them safely is an even better option,” the Cohens said in a statement.

The post JOCO’s fireproof cabinets offer solution for e-bike battery fires  appeared first on The Real Deal.

Deadly fires caused by e-bikes’ lithium ion batteries have set off attempts to regulate the vehicles by multifamily buildings and politicians. In New York, where delivery workers and other residents have embraced e-bike use since their legalization in 2020, fires have caused 74 injuries and 13 deaths as of July 3, TechCrunch reported, citing statistics
The post JOCO’s fireproof cabinets offer solution for e-bike battery fires  appeared first on The Real Deal.  Uncategorized, Climate Change, ebikes, multifamily amenities, office amenities, Sustainability, Transportation 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

The Daily Dirt: Domino Park office searches for anchor tenant – Robert Khodadadian

Two Trees revealed its ambitious office building at the old Domino Sugar Refinery factory, part of a mixed-used megaproject on the Williamsburg waterfront. 

When Two Trees purchased the site in 2012 for $185 million, it was set for a condo development. But the firm made the decision to transition a good chunk of the project to office. However risky that move seemed in 2012, it’s started to look much worse in recent years, especially now that the building has opened its doors without an anchor tenant.

The building does have a few things going for it, though.

A rendering of the Domino Sugar Factory offices (The Refinery at Domino)

As we covered last week, true Class A office — what some would call Trophy class — has fared much better than the rest of the market. The brand-new space fits the Class A mold better than most in the area. Asking rents reflect that, with a price per square foot from the high $70s to the high $90s, according to Commercial Observer. 

Also worth noting: it’s beautiful. The 460,000-square-foot glass tower is nestled inside the brick exoskeleton of the 150-year-old Domino Sugar factory, complete with a retro-looking sign and breathtaking views of Manhattan. New York Magazine’s architecture critic Justin Davidson called it, simply, “a great work of architecture.” 

How much that beautiful design is worth remains to be seen, especially given its location in Williamsburg. Office leasing in Brooklyn has been falling fast. 

For now, the building is poised to act as a barometer of the market for new office developments, especially those sitting outside the traditional powerhouses of Midtown and the Financial District.

 —

What we’re thinking about: It’s been a huge week for Related at Hudson Yards. Credit agencies boosted the rating for construction bonds tied to the project. Perhaps more importantly, the company sold a soon-to-be converted retail space to Wells Fargo for $550 million. The deal has raised eyebrows across the industry. It’s certainly a strong vote of confidence for Hudson Yards and the market for high-end office space. What are your impressions of the deal? Send a note to david.westenhaver@therealdeal.com.

—

Closing Time

Residential: The priciest residential closing Friday was $10.5 million for a co-op at 1050 Fifth Avenue on the Upper East Side.

Commercial: The most expensive commercial closing of the day was $15 million for a rental building at 157-59 Wythe Avenue in Williamsburg.

New to the Market 

The priciest residence to hit the market Friday was a condo at 551 West 21st Street in West Chelsea asking $40 million. Douglas Elliman has the listing.

—

A thing we’ve learned: This September has been the second-wettest in New York City history. For most of the month, the rain has been little more than a damper on the city’s spirits. Now, it’s causing major delays to transit service. Gov. Kathy Hochul and Mayor Adams both declared a state of emergency.

Elsewhere in New York

— A government shutdown could kick off this Sunday, as federal officials butt heads over a budget. A shutdown could impact millions of New Yorkers, Gothamist reports, from the 1.7 million people receiving food aid to the tens of thousands of government employees living and working in the city.
— A Manhattan judge ruled in favor of a city law requiring food delivery services to pay workers at least $17.96 an hour. The ruling is (obviously) a huge win for delivery workers, who earn $11 an hour on average, according to The City.

The post The Daily Dirt: Domino Park office searches for anchor tenant appeared first on The Real Deal.

Two Trees revealed its ambitious office building at the old Domino Sugar Refinery factory, part of a mixed-used megaproject on the Williamsburg waterfront.  When Two Trees purchased the site in 2012 for $185 million, it was set for a condo development. But the firm made the decision to transition a good chunk of the project
The post The Daily Dirt: Domino Park office searches for anchor tenant appeared first on The Real Deal.  Uncategorized, Daily Dirt 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

JLL manager looks to be crowned Miss USA – Robert Khodadadian

Some real estate professionals take time off to travel, others spend time with family and friends.

But Savena Mushinge, a transaction manager at JLL, is taking a week to compete in the Miss USA competition, BisNow reported. She qualified for the competition by winning the Miss Maryland USA pageant in April.

By day, Mushinge manages leases for the U.S. Postal Service facilities, working on numerous deals from JLL’s D.C. office. And she spends part of her life competing in scholarship competitions.

The upcoming Miss USA competition involves rehearsals, interviews with judges, social media and TV appearances, meet-and-greets, swimsuit and ballgown segments, and onstage questions. The final will be broadcast on the CW.

“You’ve got various amazing women. And so you really have to know yourself and know what you’re bringing to the table and what makes you stand out,” she told the outlet. “And I think the most challenging part is really knowing who you are because I think the judges are going to be able to pick up on that very quickly.”

She was born in Zambia and came to the U.S. when she was 13; her family’s involvement in real estate, buying and flipping houses, sparked her interest in the field.

Now, Mushinge aims to mentor others, especially women and people of color, to help diversify her profession.

In addition to her busy career and competing the Miss USA pageant, she serves as a health and wellness advocate for JLL, runs her charity, the Daughters Pride Foundation, and acts as a tourism ambassador for Zambia.

“I remember arriving to this country and the first thing that comes to mind is for whatever reason, it did not get dark,” she told the outlet. “The sun was out longer. It was 8:45 [p.m.], and it’s still bright as day outside. And ever since that day, I feel being in this country, my life has only gotten brighter, has only gotten better.”

Mushinge isn’t the only real estate professional with an unusual, high-profile pursuit outside of work.

Matija Pecotic, who is the director of capital markets for Wexford Real Estate Investors in Palm Beach, Florida, lived his dream in February when he took part in the Delray Beach Open tennis tournament.

The 33-year-old, who is ranked 784th in the world, ultimately fell in straight sets to No. 55 Marcos Giron, but not before creating some lifelong memories.

He got into the tournament as an alternate and a slot opened up. Earlier this year, he won three qualifying matches, including one over Jack Sock, who had once been ranked in the top 10 in the world and won the Delray Beach Open in 2017.

“Hopefully this has shown that I can play at a high level,” Pecotic told Bloomberg News. “I’ve actually never gotten a wild card to any event in my life — all my results have been meritocratic, so if this leads to opportunities at other big events, I would consider putting Wexford on pause, I wouldn’t quit.”

— Ted Glanzer

The post JLL manager looks to be crowned Miss USA appeared first on The Real Deal.

Some real estate professionals take time off to travel, others spend time with family and friends. But Savena Mushinge, a transaction manager at JLL, is taking a week to compete in the Miss USA competition, BisNow reported. She qualified for the competition by winning the Miss Maryland USA pageant in April. By day, Mushinge manages
The post JLL manager looks to be crowned Miss USA appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, commercial real estate Companies: JLL 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

Departed: Mark Wahlberg flips Las Vegas home for $17M – Robert Khodadadian

Mark Wahlberg didn’t spend too many “Boogie Nights” at his Las Vegas home before deciding to boogie away.

The movie star sold a townhouse in the suburb of Summerlin to a limited liability company for $16.6 million, the Las Vegas Review-Journal reported. The two-story, 7,300-square-foot home is in The Summit Club, a private community.

Wahlberg has talked a ton about moving his family to Las Vegas and turning it into a mecca for film production. His $14.5 million purchase of the townhouse last August exemplified him walking the walk.

While it may seem odd for Wahlberg to suddenly flip the home in Las Vegas he owned for 13 months, the city hasn’t seen the last of the multihyphenate. The Summit Club hasn’t seen the last of him either, as Wahlberg owns 2.5 acres in the same community, buying the land for $15.6 million before the townhouse purchase; he may be looking to build a mansion of his own on that plot.

The anonymous buyer is getting much more than a two-story townhouse. They are also getting access to all of the amenities at the Summit Club, which includes a golf course, 24-hour security, wellness and recreation programs, snack stations, tennis courts and of course, pickleball courts.

This year, Wahlberg and his wife, Rhea Durham, also sold their 30,500-square-foot mansion in Beverly Park, California for $55 million. That sum was $32.5 million below what the couple asked for the property when they put it on the market in April 2022 for $87.5 million; the Hollywood A-lister and his model wife bought the property for $8.2 million in 2009 before building their own mega-compound.

Wahlberg, a Boston native, is best known for his roles in movies such as “Boogie Nights,” “The Departed,” “The Fighter” and “Ted.” He was also a member of Marky Mark and the Funky Bunch in the 1990s, best known for their smash hit, “Good Vibrations.”

— Holden Walter-Warner

Read more

The post Departed: Mark Wahlberg flips Las Vegas home for $17M appeared first on The Real Deal.

Mark Wahlberg didn’t spend too many “Boogie Nights” at his Las Vegas home before deciding to boogie away. The movie star sold a townhouse in the suburb of Summerlin to a limited liability company for $16.6 million, the Las Vegas Review-Journal reported. The two-story, 7,300-square-foot home is in The Summit Club, a private community. Wahlberg
The post Departed: Mark Wahlberg flips Las Vegas home for $17M appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, Las Vegas, Luxury Real Estate 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

Barstool’s Dave Portnoy buys Nantucket home for state-record $42M – Robert Khodadadian

El Presidente has a new palace from which to rule.

Dave Portnoy, the polarizing founder of Barstool Sports and pizza maven, recently bought a luxe Nantucket compound for a record-breaking $42 million, the Wall Street Journal reported.

This off-market sale is the highest not only in Nantucket, but the state of Massachusetts, where the previous record was $38.1 million, which was set just a few months ago. The deal included additional $2 million worth of furnishings and other items, the outlet reported   

Shellie Dunlap of Lee Real Estate, represented the sellers, identified only as  known as the MAK Daddy Trust and MAK Shack Trust, while Peter Engen of Lee Real Estate, represented Portnoy.

The 1.2-acre property, located in the Monomoy area, sprawls along the Nantucket Harbor waterfront. The owners bought two parcels in 2016 for a combined $13.3 million and custom-built the compound following the demolition of two existing homes. 

The property now has a main residence designed by Andrew Kotchen of Workshop/APD, with  four bedrooms and a primary suite with an indoor-outdoor shower and spectacular harbor views. The compound also includes a pool area and guest quarters, accessible via an underground tunnel. 

Portnoy, who is from Massachusetts, has previously invested in Nantucket real estate, having bought a property for around $2 million. He recently reacquired Barstool for $550 million after selling it to Penn Entertainment. He’s also known for appearing in headlines nearly as much as his media company generates them. In 2021, he faced allegations of sexual misconduct from several women, which he denied.

He’s also been accused of making misogynistic, sexist and racist harassing comments, which he has passed off as jokes, according to the Washington Post. 

At the same time, he’s developed several wildly popular brands, including Barstool and the “One Bite Pizza Reviews,” which he spun off into a festival that took place last weekend. He also has a rabid fanbase, known as Stoolies. His reviews can boost restaurant revenue up to 50 percent, the WaPo said, and a fund he created to support restaurants and small businesses during the pandemic raised millions of dollars.

He’s also fond of buying beach homes. 

In 2022, he bought a beach house in the Hamptons for $9.75 million.

The home sits on nearly a full acre of land, and the property includes a pool and a view of the ocean.

Compass’ Matt Breitenbach and Greg Gould represented both the buyer and seller in the off-market deal. Both declined requests for comment from The Real Deal on the transaction.

In 2021, he bought a bayfront Miami home for $14 million, a record for the city’s Morningside neighborhood.

That home is about 6,100 square feet in size, built in 1939 on a 1-acre lot. It also includes a pool, as well as nine bedrooms and eight-and-a-half bathrooms.

— Ted Glanzer

The post Barstool’s Dave Portnoy buys Nantucket home for state-record $42M appeared first on The Real Deal.

El Presidente has a new palace from which to rule. Dave Portnoy, the polarizing founder of Barstool Sports and pizza maven, recently bought a luxe Nantucket compound for a record-breaking $42 million, the Wall Street Journal reported. This off-market sale is the highest not only in Nantucket, but the state of Massachusetts, where the previous
The post Barstool’s Dave Portnoy buys Nantucket home for state-record $42M appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, Luxury Real Estate, Massachusetts, Nantucket 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

JOCO’s fireproof cabinets offer solution for e-bike battery fires  – Robert Khodadadian

Deadly fires caused by e-bikes’ lithium ion batteries have set off attempts to regulate the vehicles by multifamily buildings and politicians.

In New York, where delivery workers and other residents have embraced e-bike use since their legalization in 2020, fires have caused 74 injuries and 13 deaths as of July 3, TechCrunch reported, citing statistics from the Fire Department of New York. That is twice as many deaths than in all of 2022 and three times the number from 2021.

That sounded like a problem to the co-founders of JOCO, which operates an e-bike rideshare company. JOCO, founded by two men named Jonathan Cohenm, will now offer fireproof cabinets to store lithium ion batteries. 

“It’s becoming increasingly more important,” said one of the Jonathan Cohens, who is from London. “They’re the fastest selling electric vehicle period, faster than electric cars. These buildings have to figure out how to accommodate them.”

Damaged or poorly manufactured batteries caused most of the blazes. Delivery workers, who on average make below the minimum wage, often buy cheap or second-hand batteries because those that are certified can cost up to $1,000. In September, a law went into effect in New York City that requires all sales and rentals of e-bikes to meet certain safety standards.

JOCO had incentive to find a solution. The company aims its service at delivery workers and has more than 60 locations across New York, Chicago and Miami.

“Our mission is to remove cars and trucks from streets for last-mile delivery,” the other Cohen, who is based in New York, said. “When you consider tickets, gas, delivery, it’s more favorable to not use them. We’re becoming a great option in a safe and sustainable manner. We saw the whole e-bike-fire issue coming and we produced proprietary fireproof cabinets.”

The firm has also drawn scrutiny for running afoul of local safety regulations. In July, the city fined JOCO and Grubhub nearly $6,500 for having 60 uncertified lithium ion batteries at a SoHo e-bike charging station, according to The City.

The cabinets range from $5,000 to $20,000 depending on their size and quality. To use one, an e-bike rider removes the battery from the bike, connects the battery to a cabinet slot and closes the door. 

“Once the doors are shut, should anything happen, everything is contained in the cabinet,” the New York Cohen said. 

The fire department gave its seal of approval with a “Letter of No Objection,” making JOCO the first New York-based company to receive it and the second company in the marketplace to receive it, according to the Cohens.

The Cohens say there are two markets for the cabinets: delivery companies like Grubhub, Orbital Kitchens and Gopuff, and residential and office building owners whose tenants ride e-bikes.

“Banning e-bikes is not the only option; storing them safely is an even better option,” the Cohens said in a statement.

The post JOCO’s fireproof cabinets offer solution for e-bike battery fires  appeared first on The Real Deal.

Deadly fires caused by e-bikes’ lithium ion batteries have set off attempts to regulate the vehicles by multifamily buildings and politicians. In New York, where delivery workers and other residents have embraced e-bike use since their legalization in 2020, fires have caused 74 injuries and 13 deaths as of July 3, TechCrunch reported, citing statistics
The post JOCO’s fireproof cabinets offer solution for e-bike battery fires  appeared first on The Real Deal.  Uncategorized, Climate Change, ebikes, multifamily amenities, office amenities, Sustainability, Transportation 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

The Daily Dirt: Domino Park office searches for anchor tenant – Robert Khodadadian

Two Trees revealed its ambitious office building at the old Domino Sugar Refinery factory, part of a mixed-used megaproject on the Williamsburg waterfront. 

When Two Trees purchased the site in 2012 for $185 million, it was set for a condo development. But the firm made the decision to transition a good chunk of the project to office. However risky that move seemed in 2012, it’s started to look much worse in recent years, especially now that the building has opened its doors without an anchor tenant.

The building does have a few things going for it, though.

A rendering of the Domino Sugar Factory offices (The Refinery at Domino)

As we covered last week, true Class A office — what some would call Trophy class — has fared much better than the rest of the market. The brand-new space fits the Class A mold better than most in the area. Asking rents reflect that, with a price per square foot from the high $70s to the high $90s, according to Commercial Observer. 

Also worth noting: it’s beautiful. The 460,000-square-foot glass tower is nestled inside the brick exoskeleton of the 150-year-old Domino Sugar factory, complete with a retro-looking sign and breathtaking views of Manhattan. New York Magazine’s architecture critic Justin Davidson called it, simply, “a great work of architecture.” 

How much that beautiful design is worth remains to be seen, especially given its location in Williamsburg. Office leasing in Brooklyn has been falling fast. 

For now, the building is poised to act as a barometer of the market for new office developments, especially those sitting outside the traditional powerhouses of Midtown and the Financial District.

 —

What we’re thinking about: It’s been a huge week for Related at Hudson Yards. Credit agencies boosted the rating for construction bonds tied to the project. Perhaps more importantly, the company sold a soon-to-be converted retail space to Wells Fargo for $550 million. The deal has raised eyebrows across the industry. It’s certainly a strong vote of confidence for Hudson Yards and the market for high-end office space. What are your impressions of the deal? Send a note to david.westenhaver@therealdeal.com.

—

Closing Time

Residential: The priciest residential closing Friday was $10.5 million for a co-op at 1050 Fifth Avenue on the Upper East Side.

Commercial: The most expensive commercial closing of the day was $15 million for a rental building at 157-59 Wythe Avenue in Williamsburg.

New to the Market 

The priciest residence to hit the market Friday was a condo at 551 West 21st Street in West Chelsea asking $40 million. Douglas Elliman has the listing.

—

A thing we’ve learned: This September has been the second-wettest in New York City history. For most of the month, the rain has been little more than a damper on the city’s spirits. Now, it’s causing major delays to transit service. Gov. Kathy Hochul and Mayor Adams both declared a state of emergency.

Elsewhere in New York

— A government shutdown could kick off this Sunday, as federal officials butt heads over a budget. A shutdown could impact millions of New Yorkers, Gothamist reports, from the 1.7 million people receiving food aid to the tens of thousands of government employees living and working in the city.
— A Manhattan judge ruled in favor of a city law requiring food delivery services to pay workers at least $17.96 an hour. The ruling is (obviously) a huge win for delivery workers, who earn $11 an hour on average, according to The City.

The post The Daily Dirt: Domino Park office searches for anchor tenant appeared first on The Real Deal.

Two Trees revealed its ambitious office building at the old Domino Sugar Refinery factory, part of a mixed-used megaproject on the Williamsburg waterfront.  When Two Trees purchased the site in 2012 for $185 million, it was set for a condo development. But the firm made the decision to transition a good chunk of the project
The post The Daily Dirt: Domino Park office searches for anchor tenant appeared first on The Real Deal.  Uncategorized, Daily Dirt 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

JLL manager looks to be crowned Miss USA – Robert Khodadadian

Some real estate professionals take time off to travel, others spend time with family and friends.

But Savena Mushinge, a transaction manager at JLL, is taking a week to compete in the Miss USA competition, BisNow reported. She qualified for the competition by winning the Miss Maryland USA pageant in April.

By day, Mushinge manages leases for the U.S. Postal Service facilities, working on numerous deals from JLL’s D.C. office. And she spends part of her life competing in scholarship competitions.

The upcoming Miss USA competition involves rehearsals, interviews with judges, social media and TV appearances, meet-and-greets, swimsuit and ballgown segments, and onstage questions. The final will be broadcast on the CW.

“You’ve got various amazing women. And so you really have to know yourself and know what you’re bringing to the table and what makes you stand out,” she told the outlet. “And I think the most challenging part is really knowing who you are because I think the judges are going to be able to pick up on that very quickly.”

She was born in Zambia and came to the U.S. when she was 13; her family’s involvement in real estate, buying and flipping houses, sparked her interest in the field.

Now, Mushinge aims to mentor others, especially women and people of color, to help diversify her profession.

In addition to her busy career and competing the Miss USA pageant, she serves as a health and wellness advocate for JLL, runs her charity, the Daughters Pride Foundation, and acts as a tourism ambassador for Zambia.

“I remember arriving to this country and the first thing that comes to mind is for whatever reason, it did not get dark,” she told the outlet. “The sun was out longer. It was 8:45 [p.m.], and it’s still bright as day outside. And ever since that day, I feel being in this country, my life has only gotten brighter, has only gotten better.”

Mushinge isn’t the only real estate professional with an unusual, high-profile pursuit outside of work.

Matija Pecotic, who is the director of capital markets for Wexford Real Estate Investors in Palm Beach, Florida, lived his dream in February when he took part in the Delray Beach Open tennis tournament.

The 33-year-old, who is ranked 784th in the world, ultimately fell in straight sets to No. 55 Marcos Giron, but not before creating some lifelong memories.

He got into the tournament as an alternate and a slot opened up. Earlier this year, he won three qualifying matches, including one over Jack Sock, who had once been ranked in the top 10 in the world and won the Delray Beach Open in 2017.

“Hopefully this has shown that I can play at a high level,” Pecotic told Bloomberg News. “I’ve actually never gotten a wild card to any event in my life — all my results have been meritocratic, so if this leads to opportunities at other big events, I would consider putting Wexford on pause, I wouldn’t quit.”

— Ted Glanzer

The post JLL manager looks to be crowned Miss USA appeared first on The Real Deal.

Some real estate professionals take time off to travel, others spend time with family and friends. But Savena Mushinge, a transaction manager at JLL, is taking a week to compete in the Miss USA competition, BisNow reported. She qualified for the competition by winning the Miss Maryland USA pageant in April. By day, Mushinge manages
The post JLL manager looks to be crowned Miss USA appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, commercial real estate Companies: JLL 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

Departed: Mark Wahlberg flips Las Vegas home for $17M – Robert Khodadadian

Mark Wahlberg didn’t spend too many “Boogie Nights” at his Las Vegas home before deciding to boogie away.

The movie star sold a townhouse in the suburb of Summerlin to a limited liability company for $16.6 million, the Las Vegas Review-Journal reported. The two-story, 7,300-square-foot home is in The Summit Club, a private community.

Wahlberg has talked a ton about moving his family to Las Vegas and turning it into a mecca for film production. His $14.5 million purchase of the townhouse last August exemplified him walking the walk.

While it may seem odd for Wahlberg to suddenly flip the home in Las Vegas he owned for 13 months, the city hasn’t seen the last of the multihyphenate. The Summit Club hasn’t seen the last of him either, as Wahlberg owns 2.5 acres in the same community, buying the land for $15.6 million before the townhouse purchase; he may be looking to build a mansion of his own on that plot.

The anonymous buyer is getting much more than a two-story townhouse. They are also getting access to all of the amenities at the Summit Club, which includes a golf course, 24-hour security, wellness and recreation programs, snack stations, tennis courts and of course, pickleball courts.

This year, Wahlberg and his wife, Rhea Durham, also sold their 30,500-square-foot mansion in Beverly Park, California for $55 million. That sum was $32.5 million below what the couple asked for the property when they put it on the market in April 2022 for $87.5 million; the Hollywood A-lister and his model wife bought the property for $8.2 million in 2009 before building their own mega-compound.

Wahlberg, a Boston native, is best known for his roles in movies such as “Boogie Nights,” “The Departed,” “The Fighter” and “Ted.” He was also a member of Marky Mark and the Funky Bunch in the 1990s, best known for their smash hit, “Good Vibrations.”

— Holden Walter-Warner

Read more

The post Departed: Mark Wahlberg flips Las Vegas home for $17M appeared first on The Real Deal.

Mark Wahlberg didn’t spend too many “Boogie Nights” at his Las Vegas home before deciding to boogie away. The movie star sold a townhouse in the suburb of Summerlin to a limited liability company for $16.6 million, the Las Vegas Review-Journal reported. The two-story, 7,300-square-foot home is in The Summit Club, a private community. Wahlberg
The post Departed: Mark Wahlberg flips Las Vegas home for $17M appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, Las Vegas, Luxury Real Estate 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

Barstool’s Dave Portnoy buys Nantucket home for state-record $42M – Robert Khodadadian

El Presidente has a new palace from which to rule.

Dave Portnoy, the polarizing founder of Barstool Sports and pizza maven, recently bought a luxe Nantucket compound for a record-breaking $42 million, the Wall Street Journal reported.

This off-market sale is the highest not only in Nantucket, but the state of Massachusetts, where the previous record was $38.1 million, which was set just a few months ago. The deal included additional $2 million worth of furnishings and other items, the outlet reported   

Shellie Dunlap of Lee Real Estate, represented the sellers, identified only as  known as the MAK Daddy Trust and MAK Shack Trust, while Peter Engen of Lee Real Estate, represented Portnoy.

The 1.2-acre property, located in the Monomoy area, sprawls along the Nantucket Harbor waterfront. The owners bought two parcels in 2016 for a combined $13.3 million and custom-built the compound following the demolition of two existing homes. 

The property now has a main residence designed by Andrew Kotchen of Workshop/APD, with  four bedrooms and a primary suite with an indoor-outdoor shower and spectacular harbor views. The compound also includes a pool area and guest quarters, accessible via an underground tunnel. 

Portnoy, who is from Massachusetts, has previously invested in Nantucket real estate, having bought a property for around $2 million. He recently reacquired Barstool for $550 million after selling it to Penn Entertainment. He’s also known for appearing in headlines nearly as much as his media company generates them. In 2021, he faced allegations of sexual misconduct from several women, which he denied.

He’s also been accused of making misogynistic, sexist and racist harassing comments, which he has passed off as jokes, according to the Washington Post. 

At the same time, he’s developed several wildly popular brands, including Barstool and the “One Bite Pizza Reviews,” which he spun off into a festival that took place last weekend. He also has a rabid fanbase, known as Stoolies. His reviews can boost restaurant revenue up to 50 percent, the WaPo said, and a fund he created to support restaurants and small businesses during the pandemic raised millions of dollars.

He’s also fond of buying beach homes. 

In 2022, he bought a beach house in the Hamptons for $9.75 million.

The home sits on nearly a full acre of land, and the property includes a pool and a view of the ocean.

Compass’ Matt Breitenbach and Greg Gould represented both the buyer and seller in the off-market deal. Both declined requests for comment from The Real Deal on the transaction.

In 2021, he bought a bayfront Miami home for $14 million, a record for the city’s Morningside neighborhood.

That home is about 6,100 square feet in size, built in 1939 on a 1-acre lot. It also includes a pool, as well as nine bedrooms and eight-and-a-half bathrooms.

— Ted Glanzer

The post Barstool’s Dave Portnoy buys Nantucket home for state-record $42M appeared first on The Real Deal.

El Presidente has a new palace from which to rule. Dave Portnoy, the polarizing founder of Barstool Sports and pizza maven, recently bought a luxe Nantucket compound for a record-breaking $42 million, the Wall Street Journal reported. This off-market sale is the highest not only in Nantucket, but the state of Massachusetts, where the previous
The post Barstool’s Dave Portnoy buys Nantucket home for state-record $42M appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, Luxury Real Estate, Massachusetts, Nantucket 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

JOCO’s fireproof cabinets offer solution for e-bike battery fires  – Robert Khodadadian

Deadly fires caused by e-bikes’ lithium ion batteries have set off attempts to regulate the vehicles by multifamily buildings and politicians.

In New York, where delivery workers and other residents have embraced e-bike use since their legalization in 2020, fires have caused 74 injuries and 13 deaths as of July 3, TechCrunch reported, citing statistics from the Fire Department of New York. That is twice as many deaths than in all of 2022 and three times the number from 2021.

That sounded like a problem to the co-founders of JOCO, which operates an e-bike rideshare company. JOCO, founded by two men named Jonathan Cohenm, will now offer fireproof cabinets to store lithium ion batteries. 

“It’s becoming increasingly more important,” said one of the Jonathan Cohens, who is from London. “They’re the fastest selling electric vehicle period, faster than electric cars. These buildings have to figure out how to accommodate them.”

Damaged or poorly manufactured batteries caused most of the blazes. Delivery workers, who on average make below the minimum wage, often buy cheap or second-hand batteries because those that are certified can cost up to $1,000. In September, a law went into effect in New York City that requires all sales and rentals of e-bikes to meet certain safety standards.

JOCO had incentive to find a solution. The company aims its service at delivery workers and has more than 60 locations across New York, Chicago and Miami.

“Our mission is to remove cars and trucks from streets for last-mile delivery,” the other Cohen, who is based in New York, said. “When you consider tickets, gas, delivery, it’s more favorable to not use them. We’re becoming a great option in a safe and sustainable manner. We saw the whole e-bike-fire issue coming and we produced proprietary fireproof cabinets.”

The firm has also drawn scrutiny for running afoul of local safety regulations. In July, the city fined JOCO and Grubhub nearly $6,500 for having 60 uncertified lithium ion batteries at a SoHo e-bike charging station, according to The City.

The cabinets range from $5,000 to $20,000 depending on their size and quality. To use one, an e-bike rider removes the battery from the bike, connects the battery to a cabinet slot and closes the door. 

“Once the doors are shut, should anything happen, everything is contained in the cabinet,” the New York Cohen said. 

The fire department gave its seal of approval with a “Letter of No Objection,” making JOCO the first New York-based company to receive it and the second company in the marketplace to receive it, according to the Cohens.

The Cohens say there are two markets for the cabinets: delivery companies like Grubhub, Orbital Kitchens and Gopuff, and residential and office building owners whose tenants ride e-bikes.

“Banning e-bikes is not the only option; storing them safely is an even better option,” the Cohens said in a statement.

The post JOCO’s fireproof cabinets offer solution for e-bike battery fires  appeared first on The Real Deal.

Deadly fires caused by e-bikes’ lithium ion batteries have set off attempts to regulate the vehicles by multifamily buildings and politicians. In New York, where delivery workers and other residents have embraced e-bike use since their legalization in 2020, fires have caused 74 injuries and 13 deaths as of July 3, TechCrunch reported, citing statistics
The post JOCO’s fireproof cabinets offer solution for e-bike battery fires  appeared first on The Real Deal.  Uncategorized, Climate Change, ebikes, multifamily amenities, office amenities, Sustainability, Transportation 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

The Daily Dirt: Domino Park office searches for anchor tenant – Robert Khodadadian

Two Trees revealed its ambitious office building at the old Domino Sugar Refinery factory, part of a mixed-used megaproject on the Williamsburg waterfront. 

When Two Trees purchased the site in 2012 for $185 million, it was set for a condo development. But the firm made the decision to transition a good chunk of the project to office. However risky that move seemed in 2012, it’s started to look much worse in recent years, especially now that the building has opened its doors without an anchor tenant.

The building does have a few things going for it, though.

A rendering of the Domino Sugar Factory offices (The Refinery at Domino)

As we covered last week, true Class A office — what some would call Trophy class — has fared much better than the rest of the market. The brand-new space fits the Class A mold better than most in the area. Asking rents reflect that, with a price per square foot from the high $70s to the high $90s, according to Commercial Observer. 

Also worth noting: it’s beautiful. The 460,000-square-foot glass tower is nestled inside the brick exoskeleton of the 150-year-old Domino Sugar factory, complete with a retro-looking sign and breathtaking views of Manhattan. New York Magazine’s architecture critic Justin Davidson called it, simply, “a great work of architecture.” 

How much that beautiful design is worth remains to be seen, especially given its location in Williamsburg. Office leasing in Brooklyn has been falling fast. 

For now, the building is poised to act as a barometer of the market for new office developments, especially those sitting outside the traditional powerhouses of Midtown and the Financial District.

 —

What we’re thinking about: It’s been a huge week for Related at Hudson Yards. Credit agencies boosted the rating for construction bonds tied to the project. Perhaps more importantly, the company sold a soon-to-be converted retail space to Wells Fargo for $550 million. The deal has raised eyebrows across the industry. It’s certainly a strong vote of confidence for Hudson Yards and the market for high-end office space. What are your impressions of the deal? Send a note to david.westenhaver@therealdeal.com.

—

Closing Time

Residential: The priciest residential closing Friday was $10.5 million for a co-op at 1050 Fifth Avenue on the Upper East Side.

Commercial: The most expensive commercial closing of the day was $15 million for a rental building at 157-59 Wythe Avenue in Williamsburg.

New to the Market 

The priciest residence to hit the market Friday was a condo at 551 West 21st Street in West Chelsea asking $40 million. Douglas Elliman has the listing.

—

A thing we’ve learned: This September has been the second-wettest in New York City history. For most of the month, the rain has been little more than a damper on the city’s spirits. Now, it’s causing major delays to transit service. Gov. Kathy Hochul and Mayor Adams both declared a state of emergency.

Elsewhere in New York

— A government shutdown could kick off this Sunday, as federal officials butt heads over a budget. A shutdown could impact millions of New Yorkers, Gothamist reports, from the 1.7 million people receiving food aid to the tens of thousands of government employees living and working in the city.
— A Manhattan judge ruled in favor of a city law requiring food delivery services to pay workers at least $17.96 an hour. The ruling is (obviously) a huge win for delivery workers, who earn $11 an hour on average, according to The City.

The post The Daily Dirt: Domino Park office searches for anchor tenant appeared first on The Real Deal.

Two Trees revealed its ambitious office building at the old Domino Sugar Refinery factory, part of a mixed-used megaproject on the Williamsburg waterfront.  When Two Trees purchased the site in 2012 for $185 million, it was set for a condo development. But the firm made the decision to transition a good chunk of the project
The post The Daily Dirt: Domino Park office searches for anchor tenant appeared first on The Real Deal.  Uncategorized, Daily Dirt 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

JLL manager looks to be crowned Miss USA – Robert Khodadadian

Some real estate professionals take time off to travel, others spend time with family and friends.

But Savena Mushinge, a transaction manager at JLL, is taking a week to compete in the Miss USA competition, BisNow reported. She qualified for the competition by winning the Miss Maryland USA pageant in April.

By day, Mushinge manages leases for the U.S. Postal Service facilities, working on numerous deals from JLL’s D.C. office. And she spends part of her life competing in scholarship competitions.

The upcoming Miss USA competition involves rehearsals, interviews with judges, social media and TV appearances, meet-and-greets, swimsuit and ballgown segments, and onstage questions. The final will be broadcast on the CW.

“You’ve got various amazing women. And so you really have to know yourself and know what you’re bringing to the table and what makes you stand out,” she told the outlet. “And I think the most challenging part is really knowing who you are because I think the judges are going to be able to pick up on that very quickly.”

She was born in Zambia and came to the U.S. when she was 13; her family’s involvement in real estate, buying and flipping houses, sparked her interest in the field.

Now, Mushinge aims to mentor others, especially women and people of color, to help diversify her profession.

In addition to her busy career and competing the Miss USA pageant, she serves as a health and wellness advocate for JLL, runs her charity, the Daughters Pride Foundation, and acts as a tourism ambassador for Zambia.

“I remember arriving to this country and the first thing that comes to mind is for whatever reason, it did not get dark,” she told the outlet. “The sun was out longer. It was 8:45 [p.m.], and it’s still bright as day outside. And ever since that day, I feel being in this country, my life has only gotten brighter, has only gotten better.”

Mushinge isn’t the only real estate professional with an unusual, high-profile pursuit outside of work.

Matija Pecotic, who is the director of capital markets for Wexford Real Estate Investors in Palm Beach, Florida, lived his dream in February when he took part in the Delray Beach Open tennis tournament.

The 33-year-old, who is ranked 784th in the world, ultimately fell in straight sets to No. 55 Marcos Giron, but not before creating some lifelong memories.

He got into the tournament as an alternate and a slot opened up. Earlier this year, he won three qualifying matches, including one over Jack Sock, who had once been ranked in the top 10 in the world and won the Delray Beach Open in 2017.

“Hopefully this has shown that I can play at a high level,” Pecotic told Bloomberg News. “I’ve actually never gotten a wild card to any event in my life — all my results have been meritocratic, so if this leads to opportunities at other big events, I would consider putting Wexford on pause, I wouldn’t quit.”

— Ted Glanzer

The post JLL manager looks to be crowned Miss USA appeared first on The Real Deal.

Some real estate professionals take time off to travel, others spend time with family and friends. But Savena Mushinge, a transaction manager at JLL, is taking a week to compete in the Miss USA competition, BisNow reported. She qualified for the competition by winning the Miss Maryland USA pageant in April. By day, Mushinge manages
The post JLL manager looks to be crowned Miss USA appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, commercial real estate Companies: JLL 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

Departed: Mark Wahlberg flips Las Vegas home for $17M – Robert Khodadadian

Mark Wahlberg didn’t spend too many “Boogie Nights” at his Las Vegas home before deciding to boogie away.

The movie star sold a townhouse in the suburb of Summerlin to a limited liability company for $16.6 million, the Las Vegas Review-Journal reported. The two-story, 7,300-square-foot home is in The Summit Club, a private community.

Wahlberg has talked a ton about moving his family to Las Vegas and turning it into a mecca for film production. His $14.5 million purchase of the townhouse last August exemplified him walking the walk.

While it may seem odd for Wahlberg to suddenly flip the home in Las Vegas he owned for 13 months, the city hasn’t seen the last of the multihyphenate. The Summit Club hasn’t seen the last of him either, as Wahlberg owns 2.5 acres in the same community, buying the land for $15.6 million before the townhouse purchase; he may be looking to build a mansion of his own on that plot.

The anonymous buyer is getting much more than a two-story townhouse. They are also getting access to all of the amenities at the Summit Club, which includes a golf course, 24-hour security, wellness and recreation programs, snack stations, tennis courts and of course, pickleball courts.

This year, Wahlberg and his wife, Rhea Durham, also sold their 30,500-square-foot mansion in Beverly Park, California for $55 million. That sum was $32.5 million below what the couple asked for the property when they put it on the market in April 2022 for $87.5 million; the Hollywood A-lister and his model wife bought the property for $8.2 million in 2009 before building their own mega-compound.

Wahlberg, a Boston native, is best known for his roles in movies such as “Boogie Nights,” “The Departed,” “The Fighter” and “Ted.” He was also a member of Marky Mark and the Funky Bunch in the 1990s, best known for their smash hit, “Good Vibrations.”

— Holden Walter-Warner

Read more

The post Departed: Mark Wahlberg flips Las Vegas home for $17M appeared first on The Real Deal.

Mark Wahlberg didn’t spend too many “Boogie Nights” at his Las Vegas home before deciding to boogie away. The movie star sold a townhouse in the suburb of Summerlin to a limited liability company for $16.6 million, the Las Vegas Review-Journal reported. The two-story, 7,300-square-foot home is in The Summit Club, a private community. Wahlberg
The post Departed: Mark Wahlberg flips Las Vegas home for $17M appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, Las Vegas, Luxury Real Estate 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

Barstool’s Dave Portnoy buys Nantucket home for state-record $42M – Robert Khodadadian

El Presidente has a new palace from which to rule.

Dave Portnoy, the polarizing founder of Barstool Sports and pizza maven, recently bought a luxe Nantucket compound for a record-breaking $42 million, the Wall Street Journal reported.

This off-market sale is the highest not only in Nantucket, but the state of Massachusetts, where the previous record was $38.1 million, which was set just a few months ago. The deal included additional $2 million worth of furnishings and other items, the outlet reported   

Shellie Dunlap of Lee Real Estate, represented the sellers, identified only as  known as the MAK Daddy Trust and MAK Shack Trust, while Peter Engen of Lee Real Estate, represented Portnoy.

The 1.2-acre property, located in the Monomoy area, sprawls along the Nantucket Harbor waterfront. The owners bought two parcels in 2016 for a combined $13.3 million and custom-built the compound following the demolition of two existing homes. 

The property now has a main residence designed by Andrew Kotchen of Workshop/APD, with  four bedrooms and a primary suite with an indoor-outdoor shower and spectacular harbor views. The compound also includes a pool area and guest quarters, accessible via an underground tunnel. 

Portnoy, who is from Massachusetts, has previously invested in Nantucket real estate, having bought a property for around $2 million. He recently reacquired Barstool for $550 million after selling it to Penn Entertainment. He’s also known for appearing in headlines nearly as much as his media company generates them. In 2021, he faced allegations of sexual misconduct from several women, which he denied.

He’s also been accused of making misogynistic, sexist and racist harassing comments, which he has passed off as jokes, according to the Washington Post. 

At the same time, he’s developed several wildly popular brands, including Barstool and the “One Bite Pizza Reviews,” which he spun off into a festival that took place last weekend. He also has a rabid fanbase, known as Stoolies. His reviews can boost restaurant revenue up to 50 percent, the WaPo said, and a fund he created to support restaurants and small businesses during the pandemic raised millions of dollars.

He’s also fond of buying beach homes. 

In 2022, he bought a beach house in the Hamptons for $9.75 million.

The home sits on nearly a full acre of land, and the property includes a pool and a view of the ocean.

Compass’ Matt Breitenbach and Greg Gould represented both the buyer and seller in the off-market deal. Both declined requests for comment from The Real Deal on the transaction.

In 2021, he bought a bayfront Miami home for $14 million, a record for the city’s Morningside neighborhood.

That home is about 6,100 square feet in size, built in 1939 on a 1-acre lot. It also includes a pool, as well as nine bedrooms and eight-and-a-half bathrooms.

— Ted Glanzer

The post Barstool’s Dave Portnoy buys Nantucket home for state-record $42M appeared first on The Real Deal.

El Presidente has a new palace from which to rule. Dave Portnoy, the polarizing founder of Barstool Sports and pizza maven, recently bought a luxe Nantucket compound for a record-breaking $42 million, the Wall Street Journal reported. This off-market sale is the highest not only in Nantucket, but the state of Massachusetts, where the previous
The post Barstool’s Dave Portnoy buys Nantucket home for state-record $42M appeared first on The Real Deal.  Uncategorized, Celebrity Real Estate, Luxury Real Estate, Massachusetts, Nantucket 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate

JOCO’s fireproof cabinets offer solution for e-bike battery fires  – Robert Khodadadian

Deadly fires caused by e-bikes’ lithium ion batteries have set off attempts to regulate the vehicles by multifamily buildings and politicians.

In New York, where delivery workers and other residents have embraced e-bike use since their legalization in 2020, fires have caused 74 injuries and 13 deaths as of July 3, TechCrunch reported, citing statistics from the Fire Department of New York. That is twice as many deaths than in all of 2022 and three times the number from 2021.

That sounded like a problem to the co-founders of JOCO, which operates an e-bike rideshare company. JOCO, founded by two men named Jonathan Cohenm, will now offer fireproof cabinets to store lithium ion batteries. 

“It’s becoming increasingly more important,” said one of the Jonathan Cohens, who is from London. “They’re the fastest selling electric vehicle period, faster than electric cars. These buildings have to figure out how to accommodate them.”

Damaged or poorly manufactured batteries caused most of the blazes. Delivery workers, who on average make below the minimum wage, often buy cheap or second-hand batteries because those that are certified can cost up to $1,000. In September, a law went into effect in New York City that requires all sales and rentals of e-bikes to meet certain safety standards.

JOCO had incentive to find a solution. The company aims its service at delivery workers and has more than 60 locations across New York, Chicago and Miami.

“Our mission is to remove cars and trucks from streets for last-mile delivery,” the other Cohen, who is based in New York, said. “When you consider tickets, gas, delivery, it’s more favorable to not use them. We’re becoming a great option in a safe and sustainable manner. We saw the whole e-bike-fire issue coming and we produced proprietary fireproof cabinets.”

The firm has also drawn scrutiny for running afoul of local safety regulations. In July, the city fined JOCO and Grubhub nearly $6,500 for having 60 uncertified lithium ion batteries at a SoHo e-bike charging station, according to The City.

The cabinets range from $5,000 to $20,000 depending on their size and quality. To use one, an e-bike rider removes the battery from the bike, connects the battery to a cabinet slot and closes the door. 

“Once the doors are shut, should anything happen, everything is contained in the cabinet,” the New York Cohen said. 

The fire department gave its seal of approval with a “Letter of No Objection,” making JOCO the first New York-based company to receive it and the second company in the marketplace to receive it, according to the Cohens.

The Cohens say there are two markets for the cabinets: delivery companies like Grubhub, Orbital Kitchens and Gopuff, and residential and office building owners whose tenants ride e-bikes.

“Banning e-bikes is not the only option; storing them safely is an even better option,” the Cohens said in a statement.

The post JOCO’s fireproof cabinets offer solution for e-bike battery fires  appeared first on The Real Deal.

Deadly fires caused by e-bikes’ lithium ion batteries have set off attempts to regulate the vehicles by multifamily buildings and politicians. In New York, where delivery workers and other residents have embraced e-bike use since their legalization in 2020, fires have caused 74 injuries and 13 deaths as of July 3, TechCrunch reported, citing statistics
The post JOCO’s fireproof cabinets offer solution for e-bike battery fires  appeared first on The Real Deal.  Uncategorized, Climate Change, ebikes, multifamily amenities, office amenities, Sustainability, Transportation 

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

robert khodadadian, skyline properties, commercial real estate, off market real estate, daniel shirazi, real estate investment, new york real estate