The Jews in Dubai preparing the ground for Israeli tourists

We sat down with Dubai-based Jewelry designer Sarah Besnaino and her husband Steve Ben-Shimol, a real-estate entrepreneur who develops hotels and luxury condos. They have been living in Dubai for the past 5 years, where they maintain their Jewish tradition and rich community life. 

As the owner of an international Jewelry business in the Emirates, do you have any advice for Israelis who wish to start a new business there?

This is a very organized country, everything is very clear here, we have rules, we have great leaders that understand the importance of maintaining a free market, so it’s very easy to work here if you do it right. It’s extremely important to follow the rules and to do everything by the book. Although it might sound daunting, it’s definitely worth it. 

 

Are you ready for your new Israeli customers?
We are happy to have the borders open and very
Read More

San Francisco condos are the Bay Area’s weakest market. So why aren’t prices dropping more?

San Francisco is the softest spot in the Bay Area’s mostly booming real estate market, and its condo segment is weakest of all.

Inventory has been growing faster than sales, and price reductions — mostly in the condo segment — “have hit very high numbers,” said Patrick Carlisle, chief market analyst for the Compass real estate brokerage firm. So why hasn’t the median price for a San Francisco condo shown a bigger drop?

The median price paid for a San Francisco condo fell to $1.25 million in the third quarter, down just 2% from the third quarter of 2019, according to Carlisle. The median price for a single-family home rose 5.2% to $1.66 million.

The big reason condos didn’t drop more: Sales of two-bedroom units went up considerably — to 330 from 230 — year over year, while the number of one-bedroom condo sales dropped slightly, to 186 from 183.

Read More

Richmond-based developer is planning a $25 million-plus project in Colonial Beach with town homes, condos and a hotel | Business News

For the entire project, Dodson said “we are gathering input in what it can be and should be. We promise to continue these conversations, listen and learn, and move forward responsibly in a manner that benefits the town and provides residents and visitors alike with valuable new real estate.”

Dodson stressed that the architectural style of his developments will pay homage to the town’s history.

“One of the reasons we went with Dodson is that he appropriately wants to keep the Chesapeake Bay authentic look. He wants to keep the character and charm of the town. He’s trying to take his new development and fuse it with the architecture in this area,” said Quinn Robertson, who has been Colonial Beach’s town manager for nearly three years.

In addition to buying the parcels for $2.7 million, Dodson Development will donate a total of $20,000 over each phase of the project ($5,000

Read More

Vanke usurps Aby Rosen’s power over Midtown condo tower in backdoor deal, lawsuit

The real estate investors began work on the 63-story project in 2014, when they agreed to develop the condominium together under an LLC in which they both had an interest. The building is situated next to Rosens Seagram Building.

Under their agreement, however, RFR had the exclusive right to deal with the building’s debts, according to the lawsuit, and so Vanke’s communication with the bank was a breach of contract.

When the mortgage on the property became due in full in May, Rosen couldn’t pay it off because of the damage the Covid-19 pandemic did to the luxury condo market, as well as the glut of high-end apartments spanning several years. He tried to negotiate with ICBC for an extension, but the bank refused.

Vanke then “self-servingly” offered to purchase the 25 least expensive units in the tower for $75 million in March to help pay down the

Read More

The Parklane Full-Amenity Houston Condos Offer Luxury Living in the Museum District Overlooking Hermann Park | Oct 26, 2020

Houston, TX — (SBWIRE) — 10/26/2020 — The Parklane condo tower is a striking local landmark next to Hermann Park with its 35 stories and distinctive curved corners, enjoying a prime location since 1983. The concept of luxury living in the Museum District appeals to a broad range of buyers looking to own Houston full amenity high rise condos. Whether residents are looking for a short commute to The Texas Medical Center, Rice Village, Rice University, Downtown Houston, or The Ion and South Main Innovation District, or recreational opportunities with direct access to the famous Hermann Park, there are ample nearby attractions and easy access for work, leisure, relaxation, entertainment, high-end dining, premier retail outlets, and the renowned Museum District, which boasts 19 museums across 4 walkable zones.

Every condo in The Parklane has at least one private balcony, the perfect space to unwind after a long day and soak

Read More

Top real estate sale in Flagler County: Condo for $2.55 million | Palm Coast

A condo in Hammock Dunes was the top real estate transaction for the week of Sept. 17-23 in Flagler County in the Multiple Listing Service. Kevin and Eileen Van Fleet, of Greensburg, Pennsylvania, sold 19 Avenue De La Mer, Unit 1102, to Judi Wormeck, of Palm Coast, for $2.55 million. Built in 2005, the condo is a 4/4 with two half-baths and 5,521 square feet. It sold in 2019 for $2.5 million. Following is a partial list of other transactions for the week.

 

Condos

Paul Jayachandra and Saraswathi Chandra, individually and as trustees, sold 80 Surfview Drive, Unit 703, to Penelope Nicholson, as trustee, for $405,000. Built in 2004, the unit is a 3/2 and has 1,640 square feet. It sold in 2003 for $340,600.

 

Charles and Margaret Stanley sold 60 Club House Drive, Unit 204, to Cindy and David McClure, of Port Richey, for $140,000. Built in 1977, the

Read More

Tiny condos now the biggest losers in Toronto real estate market shakeup



a tall building: Smaller units appear to be weighing down the entire market in Toronto.


© Provided by Financial Post
Smaller units appear to be weighing down the entire market in Toronto.

For four months, Christopher Bibby anguished over how to sell a 435-square-foot condo in Toronto’s entertainment district. The unit, which was listed in March at $569,999, wasn’t visited once in its first two months on the market. There were no calls and no emails. “Those were dead months,” he said.

Bibby already thought he was giving buyers a bit of a break. He had sold a condo of the same size, with the same floor plan and in the same building for $580,000 in February. But that was before COVID-19 upended Toronto’s condo market.

After two months, Bibby trimmed the price even further to $529,999 and, coupled with loosening lockdown restrictions, that generated enough interest to do a showing every 10 days. Still, there were no offers.

It wasn’t until mid-June that Bibby

Read More

Condo owner struggles to find lender to refinance

Ilyce Glink and Samuel J. Tamkin
 |  Tribune Content Agency

Q: Is it possible for you to refer me to a mortgage lender? I’m a single woman who would like to refinance the condominium I’ve lived in for the past 15 years. I have excellent credit. My monthly income seems to be a little shy of what lenders are looking for, by about $200 per month. My mortgage payment history is excellent.

A: Thank you for your question. We don’t recommend specific companies to our readers, simply because it would be too difficult to vet thousands of lenders nationwide, but we can give you some general information on what you should do given your situation.

While you mentioned that you have lived in your condominium for 15 years, you didn’t say whether your current loan is from the time you purchased your condo.

If we assume you’re still paying down

Read More

Minneapolis, St. Paul housing exodus more myth than reality

As in many U.S. metro areas, the suburbs of the Twin Cities have enjoyed surging interest from home buyers as the global pandemic has upended how and where people work.

Amid rising crime and lingering unease following spring riots, many suburban buyers have relocated from the urban core of Minneapolis and St. Paul, where the number of homes for sale has swelled.

Yet, this doesn’t mean a new urban exodus is underway.

Also on the rise in the both of those cities: home sales, driven in part by record low mortgage rates that have enticed entry level buyers despite a grim economy.

“If there is an exodus,” says sales agent Pat Paulson of buyers exiting urban neighborhoods, “there’s an inflow as well.”

In Minneapolis, there’s been an 11% increase in listings through the first nine months of this year, buoyed in part by a recent rise in condos for sale.

Read More

60 Guilders, Carlyle Sell Midtown South Office Condos

20 West 33rd Street (20West33rd)

20 West 33rd Street (20West33rd)

Kevin Chisholm’s 60 Guilders and the Carlyle Group have found a buyer for four condos at their Midtown South office-condo conversion.

JLA Home, a home furnishing and bedding company whose merchandise is sold in places such as Macy’s, picked up four, full-floor condo units at 20 West 33rd Street for $35 million.

The company is taking the third, fourth, fifth and 12th floors — totaling 55,000 square feet — as showrooms, said Jeffrey Rosenblatt of SquareFoot, who represented the buyer.

60 Guilders and Carlyle bought 18 and 20 West 33rd Street, which sit between Fifth Avenue and Broadway, for $111 million in 2015. The partnership then converted the buildings into a 21-unit office condo complex with a projected sellout of $206.6 million, or $9.8 million per unit.

The idea was to market the condos first to the existing tenants in the building. In 2017, HUBB

Read More