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Roundup

Real Estate Roundup 12.6.19

Extell’s Gary Barnett (Credit: WSJ)

Real Estate Roundup

News gleaned from the Tel Aviv Stock Exchange (TASE).

Breakdown of Extell’s condo sales: Good data point for state of the market.

  • At the Kent, Extell has 51 condos still available at the 83-unit building on the Upper East Side. Sales began in 2016.
  • At One Manhattan Square on the Lower East Side, 202 of the project’s 815 units found buyers as of the end of September. Sales started in late 2016. 
  • At One57, Extell has 27 remaining units… In 2012, the tower reached over $1 billion in purchases in six months. (Bloomberg)

Yoel Goldman’s All Year Management bonds drop. (TRD) 

Sapir Corp. saw its stock price fall 18 percent on the TASE. The company’s 264-key, NoMo SoHo hotel has underperformed this year. (TRD) 

WeWork

Co-working pains continue… On-demand workspace startup, Breather, has fired nearly 20% of their staff. The company has raised $122 million to date. (TRD)

bullish take on WeWork in Bloomberg from Sanford C. Bernstein’s Chris Lane. (Bloomberg)

Other news 

The median age of U.S. home buyers is now 47. In 1981, the median age of American home buyers was 31. (MarketWatch)

New to the market 

Orda Management’s Morton and Thomas Silver have put 225 Park Avenue South up for sale. The 675,000-square-foot office building boasts Facebook and other technology companies as tenants. (TRD)

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