Donald Trump

State’s highest court to hear AG’s Trump University suit Case likely won’t go before NY Court of Appeals until after Nov. elections

The state Att爱上海同城论坛 爱上海同城orney General’上海贵族宝贝交流区 上海贵族宝贝论坛s $40 million lawsuit against Do上海夜网 阿爱上海同城nald Trump’s now-defunct Trump University is making its way to The Highest Court in New York.

The GOP presidential frontrunner was granted the right to argue his case before the state’s Court of Appeals on Tuesday, though proceedings likely won’t take place until after the November election.

State AG Eric Schneiderman brought the fraud suit against Trump in 2013 and is claiming Trump University – later known as 上海贵族宝贝论坛 上海贵族宝贝the Trump Entrepreneur Initiative – fraudulently deceived its students, who paid up to $35,000 in tuition, into believing they would be taught by handpicked real estate and business experts, according to the New York Post.

The matter has come up during the course of Trump’s remarkable march to the GOP nomination this year, with former Republican candidate Marco Rubio referring to the “fake” university during a debate.

Schneiderman appears not to be amused by Trump’s efforts in “using every legal option to avoid standing trial for operating a sham for-profit university,” he said in a statement.

“As our lawsuit makes clear, Mr. Trump’s phony university defrauded thousands of students through an illicit scheme that cost them millions of dollars,” Schneiderman added.

Trump’s attorney, Alan Garten, fired back called the AG’s comments “completely unprofessional f[……]

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Plaza Construction

Plaza Construction to pay $9.2M for overbilling clients Projects included Federal Reserve Bank and Brooklyn Navy Yard

Richard Wood

Manhattan-based Plaza Construction, one of the country s largest construction companies, has agreed to pay $9.2 million in restitution and penalties for defrauding clients for more than a decade on projects that included the Brooklyn Navy Yard, New York University, the Bronx Terminal Market and the Federal Reserve Bank.

Between 1999 and 2012, Plaza inflated costs, charged clients for unworked hours, and added hidden surcharges to clients’ bills to offset administrative costs, B上海龙凤论坛sh1f 上海龙凤论坛rooklyn U.S. Attorney Robert Capers said Thursday.

The feds agreed not to prosecute Plaza if the company shows its reforming its practices within two years. Plaza will pay $2.2 million in restitution to clients, a $5.6 million penalty and fork over an additional $1.3 million to the government over a two-year period.

A spokesperson for the construction firm told the New York Daily News that it was accepting responsibility for “inappropriate past practices.”

In 2014, China Construction America completed its purchase of Plaza Construction from real estate development firm Fisher Brothers.

Plaza, led by CEO Richard Wood, has been under investigation since 2012. It s just the latest firm th阿拉爱上海同城 爱上海龙凤419桑拿at s been targeted by federal authorities for fraud allegations. In 2012, Lend Lea上海同城对对碰交友社区 上海夜网论坛se agreed to pay $56 million to settle charges it overbilled clients on Citi Field and[……]

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Manhattan Retail Market

From left: Alexander Brodsky, Jared Epstein and George Doerre

Less than three years ago, it seemed Manhattan’s retail market had no ceiling when it came to pricing. Asking rents in parts of Midtown and Soho grew by double-digit percentages, and investors spent billions of dollars for stakes in retail spaces with the expectation of big returns. Now, by most accounts, the market has surpassed its peak. Tenants are increasingly reluctant to ink leases at the record prices that some landlords want, and online competition continues to undercut in-store sales. Availability rates across Manhattan saw a 25 percent increase during the first quarter of 2017, according to data from CBRE. The average asking rent in the borough declined 2.7 percent, to $850 per square foot from $874 per square foot during the same time last year. And asking rents fell in 12 of the 16 corridors the real estate services firm tracks, with Fifth Avenue between 42nd and 49th streets showing the largest drop at just over 17 percent. From cutting their rents to offering generous concessions, retail landlords are doing what they can to fill vacancies in their buildings — some of which are encumbered by hundreds of millions of dollars in debt. “Landlords are trying to keep their existing tenants rather than create opportunities to jack up the rent by 20 percent,” said real estate attorney Joshua Stein.  Whether you call it a bubble, a correction or a plateau, the market has undoubtedly softened. This month, The Rea[……]

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Investors list 143

Boston-based UC Funds has listed the Park Square West apartment building it bought at bankruptcy auction in 2016 to test the waters for a potentia新爱上海同城对对碰论坛 上海同城对对碰交友社区l sale. The investors paid $40 million for the nine-story, 143-unit residential building after the collapse of Seaboard Properti爱上海同城论坛 爱上海同城es, buying the 115-room Courtyard by Marriott as well. CBRE 上海同城对对碰交友社区 上海夜网论坛of Stamford is listing the residential building for UF Funds, which plans to keep上海千花网论坛 上海千花网 the hotel next door. The list price of the apartment building was not reported. [Stamford Advocate]

Tags: Westch上海千花网交友 上海千花网论坛ester Fairfield
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The Real Deal Retail

The Real Deal’s annual National Retail Market Report is coming soon Coming this May, with ICSC

The Real Deal’s annua上海同城对对碰交友社区 上海夜网论坛l insider’s look at what s unfolding in retail markets across the country will be available in May 201爱上海同城手机版 新爱上海同城对对碰论坛8.

This year s issue will include:

-A ranking of top retail brokerages
-An analysis of the shifting tenant mix in the biggest malls
-A deep dive into the future阿拉爱上海同城 爱上海龙凤419桑拿 of retail REITs
-Comprehensive lists of the biggest ret上海千花网龙凤论坛 上海千花社区ail leases and acquisitions
-Reporting on who the new Teflon retail tenants are

The issue will be distributed to all subscribers to our New York, South Florida and Southern California magazines, with bonus distribution in bins and at TRD s booth at ICSC s RECon 2018 in Las Vegas.

For advertising opportunities, p上海千花网交友 上海千花网论坛lease contact [email protected] or call 212.260.1332.

Tags: Retail Real Estate
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Keller Williams

Keller Williams profit gets a boost from higher sales volume The brokerage also expanded its voice assistant offerings

Ilan Bracha and John Davis of Keller Williams (Credit: Getty Images and t360)

Keller William上海千花网论坛 上海千花网s franchises raked in higher profits last quarter.

The brokerage reported $98.3 bil上海夜网 阿爱上海同城lion in sales volume in the U.S. and Canada in the second quarter — up 8.7 percent from a year earlier. Franchisee owner profit rose 1.3 percent year over year to $70.3 million, according to a release from the company.

The growth comes as the firm has been expanding its artificial intelligence-based assistant, Kelle. Through the service, agents can access listings, market reports, referrals and contacts. In the second quarter, 8,680 live referrals were sent through Kelle, the company said. That represented $2.07 billion in sales volume.

“With market snaps and other new skills released into general availability recently, we’re seeing substantial jumps in our agents’ engagement with Kelle,” said Darryl Frost, a spokesperson for the company.

Keller Williams, which has claimed 上海夜网 阿爱上海同城its the largest real estate franchise by agent count, ended the quarter with more than 186,000 agents. It gained roughly 4,700 agents globally during the quarter.

Earlier this year, Keller Williams NYC saw a shakeup, with leadership de上海千花网 爱上海同城对对碰partures, agent defections and plans to downsize. Josiah Hyatt, who had been t爱上海同城对对碰 爱上海同城论坛he interim “team leader” for the Midtown-based franchise, left the firm. Lezley Ch[……]

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The Daily Deeds

The Real Deal is launching a newsletter this week that will offer readers the insight and analysis they need to keep up with NYC s fast-paced real estate industry.

With The Daily Deeds newsletter, TRD subscribers will receive a primer on the biggest real estate stories 上海夜网 阿爱上海同城in New York City, as well as the t上海千花网 爱上海同城对对碰op stories from our other markets. The newsletter will also be packed with the day s priciest listings, biggest closings, unpublished details from our reporters, and much more. Oh, there will新爱上海同城对对碰论坛 上海同城对对碰交友社区 also be a GIF or two.

For the most dedicated TRD reader, the newsletter offers commentary on our most important stories. For those who need to catch up, it s a cheat sheet with bonus features.

The first edition of the daily newsletter goes out Tuesday night.

Through Friday, The Daily Deeds will be available to al爱上海 爱上海同城手机版l readers. After Friday, the newsletter will be a subscriber exclusive, so if you re not already a 上海贵族宝贝交流区 上海贵族宝贝论坛subscriber click here. — Kathryn Brenzel

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Solow Building Company

Sales swap: Solow taps Corcoran Sunshine to take over marketing at 685 First Ave Units at Richard Meier-designed condo building start at $1.5M

From left: Kelly Kennedy Mack, 685 First Avenue, and Sheldon Solow (Credit: Getty Images and上海贵族宝贝论坛 上海贵族宝贝 Wikipedia)

In a slow luxury condominium market, Solow Building Company is revamping its sales strategy at 685 First Avenue and tapping Corcoran Sunshine to take over marketing.

The company has rebranded the project as One United Nations Park, with a new address of 695 First Avenue. Corcoran Sunshine is tak上海夜网论坛 上海夜网ing over sales from Citi Habitats, which will continue to handle leasing for 408 rental units in the building.

Solow wouldn t release numbers on how many units are in contract, but the sales team swap comes as condo deals in Manhattan keep falling. In the fourth quarter, condo sales tumbled 13 percent year-over-year while inventory ticked up 3 percent, according to Douglas Elliman. That marked the fifth straight quarter condo and co-op sales have fallen in the borough. Among new developments, sales slid 32 percent.

Th爱上海同城论坛 爱上海同城e 43-story building along the East River has 148 condo units and marks Solow’s first foray into the condo market. The total projected sales price for the condos is $551 million, or $3.7 million on average, according to an offering plan submitted to the New York State Attorney General’s office.  The one- to four-bedroom homes start on the 28th floor of the building and pricing begins at $1.495 million. Initial o[……]

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