A mini revolution: The strategy behind YotelPad s first East Coast hotel-condo project The London-based hotel brand specializing in compact rooms is planning a $150M tower downtown by Aria Development Group and AQARAT

David Arditi and Hubert Viriot and a rending of YotelPad

For its first micro-unit hotel-condominium on the East Coast, the Yotel chain chose a market that is awash in new development: Miami.

But the chic London-based hotel brand, which focuses on international hub cities and up-and-coming urban neighborhoods, sees an opening for its planned location in downtown Miami, which is gentrifying and redeveloping, said Yotel CEO Hubert Viriot.

“Miami has always been appealing to us. It’s a hub for the U.S., Central and South America, with a strong international appeal, great connections to Europe and Latin America — a vibrant and exciting city,” Viriot told The Real Deal. “It’s sexy. It fits every single typology and criteria we were looking for as a destination. It’s only natural for us to come here.”

YotelPad Miami will rise at 227 Northeast Second Street in downtown Miami, a 31-story tower that should open in late 2020. It will cost $150 million to develop. The new concept is in line with the company’s brand, which offers compact units at moderate prices, according to the 爱上海同城对对碰 爱上海同城论坛partners in the project.

Aria Development, led by principal David Arditi, and AQARAT, a Kuwaiti publicly traded company, have joined together to build the YotelPad property. It will be managed by Yotel, which is 70 percent owned by the Al-Bahar family, the controlling shareholders of A上海夜网论坛 上海夜网QARAT.

The tower will have 215 condos and 250 Yotel “cabins,” or small hotel rooms. The studios, one-, two- and three-bedroom condos, on the upper floors, will average 580 square feet and will be priced from $260,000 to the $450,000. Condo owners will be able to participate in a short-term rental program.

The project will also have a “Sky Lounge” with a game area, living room with a fireplace and a chef’s kitchen and private dining area. Owners and hotel guests will also have access to bike storage, a coffee bar, restaurant and bar, fitness center, co-working space, a lounge and pool deck.

The aim is to create well-designed, high-technology, compact units with restaurants and services that also include a room for residents to pick up packages and a “PetPad,” for dog grooming, Arditi said.

And though the sales gallery just opened and construction has yet to begin, the partners are already looking for sites in Miami-Dade for a second project, Viriot said. The company looks for areas experiencing transition, similar to its loc上海同城对对碰交友社区 上海夜网论坛ations in New York s Hell’s Kitchen, Boston’s Seaport and San Francisco’s South of Market.

In Miami, YotelPad is targeting foreign and U.S. investors who may choose to take part in the rental program, as well as buyers who work downtown and parents of college students at nearby Miami Dade College. One World Properties is handling sales and marketing.


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Alex Sapir

Prying inside Alex Sapir’s real estate empire The fiercely private head of Sapir Corp. is expanding the development firm’s foothold in Miami, after having long focused on New York

Alex Sapir and his properties (Credit: Getty Images, iStock)

UPDATED, Sept. 13, 6:15 p.m.: Last June, Alex Sapir’s ASRR Capital announced plans to build a 1.7 million-square-foot mixed-use development in Miami’s Arts Entertainment District, in what would be the real estate mogul’s biggest South Florida investment to date.

The Miami 18 project would add to th新爱上海同城对对碰论坛 上海同城对对碰交友社区e portfolio Sapir’s firm was building in the city, to go with other developments like a smaller luxury boutique condo building planned for Surfside. Miami 18 called for two towers, one 60 stories the other 40 stories, with up to 1,200 rental units, 20,000 square feet of retail space and 350,000 square feet of office space.

Now called Sapir Corp. — the publicly-traded firm s name since April — has mostly focused its development efforts in New York, but has begun a bigger push into Miami. Appearing to confirm his commitment to the city, Alex Sapir in the spring purchased a $17 million waterfront home in Miami Beach’s Venetian Islands. The company’s investment in the Magic City is among Sapir’s recent strategy shifts after tightening his grip and boosting his ownership in the Israel-based organizaton.

In an email response to questions for this story, Sapir said he expects to invest more in South Florida over the next few years, citing the recent changes in tax legislation. Those changes make it less expensive — and in some cases, profitable — for ultra-wealthy out-of-state buyers to establish residency in Florida to avoid paying more in taxes. “Sapir Corp. will continue to make strategic investments with strategic partners and capital,” he wrote. He declined to provide specific information about his recent investment moves or his long-term vision for the company.

But South Florida is in his sights. Sapir’s 16-unit luxury condo called Arte by Antonio Citterio, recently topped out and is expected to open early next year. The 12-story Arte will feature an outdoor pool, indoor lap pool, a spa and fitness center, a tennis court, residents’ lounge and air conditioned parking. The building at 8995 Collins Avenue adds to the wave of new development in the once-sleepy beachfront town. Sapir Corp. owns 62.5 percent of the project. The total amount of equity invested in Arte totals $50.7 million, including $40 million for the oceanfront site. The developer also secured $90 million in construction financing. Sales are expected to launch in September, with Corcoran Sunshine handling them.

The gambler

The construction is something of a gamble for Sapir. To break even on the $150 million investment, Arte would have to sell its 80,000 square feet of condos for $1,875 per square foot.

Unlike most new condo developments in South Florida, Sapir is launching sales when construction is nearly completed, and did not rely on buyers’ depos[……]

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Westchester County loses top AAA rating after downgrade

Despite its array of mansions and other areas of affluence, Westchester County, one of the richest suburbs in the country, saw its elite credit rating get cut上海贵族宝贝交流区 上海贵族宝贝论坛 by a pa新上海贵族宝贝论坛 上海贵族宝贝交流区ir of prominent ratings agencies, according to Bloomberg. Fitch Ratings and Standard Poor’s Global Ratings both made the move after the county drew down on its cash reserves to cover raises retroactively given to government employees, the outlet reported. Westchester County saw both S P and Fitch slash its AAA rating — t上海贵族宝贝 上海千花网龙凤论坛he highest available — to AA+, while ratings industry rival Moody’s assigned a roughly equivalent Aa1 rating to the municipality. Westchester County Chief Executive George Latimer publicly acknowledged the “serious financial stress” facing the suburb, but said that hard decisions had to be made in or上海千花网论坛 上海千花网der for the county to make its budget. Latimer vowed to get Westchester County back to AAA by the time he leaves office. [Bloomberg]

Tags: Westchester Fairfield
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1MDB Scandal

Abu Dhabi fund ups stake爱上海同城对对碰 爱上海同城论坛 in Park Lane Hotel as part of 1MDB funds recovery Justice Department seized $140M interest from Jho Low

Jho Low and the Park Lane Hotel at 36 Central Park South (Credit: Getty Images and Google Maps)

Abu Dhabi sovereign w上海贵族宝贝论坛 上海贵族宝贝ealth fund Mubadala Investment Co. increased its stake in the Park Lane Hotel as part of the U.S. government s effort to recover monies tied to Malaysia’s 1MDB scandal.

The sale came after fugitive Malaysian financier Low Taek Jho, known as Jho Low, dropped his claims to the property in a forfeiture lawsuit, Bloomberg News reported.

About $140 million for the interest in the hotel was transferred to the U.S. government around Dec. 10.

The Justice Department seized Low’s stake following allegations that he bought it with money stolen from Malaysia’s state-owned 1MDB fund. The department had been seeking to seize nearly $1.7 billion in assets tied to money diverted from 1MDB.

The 1MDB fund, which was established under Malaysia’s previous prime minister Najib Razak, has come under scrutiny under the new administration, led by Mahathir Mohamad. The Malaysian government is also seeking the whereabouts of Low, who allegedly masterminded the disappearance of $4上海千花网论坛 上海千花网.5 billion from the fund.

Potential new lenders have been notified about the 上海贵族宝贝 上海千花网龙凤论坛change in ownership, the report said. Mubadala, the Witkoff Group and partners — hotel manager Highgate Hotels and New Valley, a unit of Vector Group — hired the Newmark Knight Frank debt team led by Dustin Stolly and Jordan Roeschlaub to refinance the 631-room hotel. They are seeking a $600 million floating-rate loan.

Dustin Stolly and Jordan Roeschlaub

Proceeds will be used to pay down the existing loan, and for additional air rights and renovations. The value of the land is estimated to be more than $1 billion.

The Park Lane Hotel was developed in 1967 by the late billionaire Harry Helmsley. A Helmsley family trust owned it until Witkoff and entities affiliated with Low bought it in 2013 for about $654 million. Later that year, Mubadala paid Low $135 million for a portion of his stake in the hotel.

Last month, professional services firm Deloitte also became embroiled in the scandal. The UK-based firm was fined $535,0爱上海 爱上海同城手机版00 by the Malaysian government after it allegedly failed to report irregularities found in audits of companies linked to the 1MDB fund. [Bloomberg] — Meenal Vamburkar

Tags: 1mdb, Commercial Real Estate, Hotel Market, taek jho low
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TRD’s 3

Trying to keep up with the latest projects underway in New York City? Check out The Real Deal’s new interactive map, where you can t上海夜网论坛 上海夜网rack more than 16,000 buildings in various stages of development across the five boroughs. This critical resource is for subscribers only, so if you haven t joined us yet, sign up now.

Th爱上海同城手机版 新爱上海同城对对碰论坛e map is updated daily by TRD’s data team and shows projects in every phase of development, from the moment plans are filed to when move-ins get the green light. Check out the video上海夜网 阿爱上海同城 above to see how it works for commercial properties like Sam Chang s new hotel in Long Island City.

上海同城对对碰交友社区 上海夜网论坛
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Game of FPS of gram of the friend that surpass gain ” 2084 ” announce will land Steam to experience first on December 13

CDPR develops ” Sai Bopeng is overcome 2077 ” had not come, but another Sai Bopeng overcomes a theme to shoot play ” 2084 ” be about to experience first at landing Steam at the end of this month.[……]

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Can be data of Epic store user shared Tecent? Father: Eyewash

The near future just go up one of formidable competitors that the Epic Store of the line is considered as Steam, will make oneself game with etc the brunt platform of tripartite game. However, a lot of netizens expressed in post of the hair on Reddit recently, epic serves a provision in the user of Epic Store it seems that hide in EULA mystery. After a few him netizens are unscrambled, express, after agreeing with a clause when the user, basically allow the individual information of EPIC general user and other company to share namely, have in serving a provision at the same time allow to develop business ” take away ” the person that content is created (advocate sow, opinion cacique) game is relevant the clause of content. This included to have the company of Epic minority equity among them, for instance portion occupies the Tecent of 40% . And the after this of father Tim Sweeney of Epic expresses publicly, these is anxious is eyewash. He denies this kind of circumstance to be able to happen, “Epic not with Tecent or any other companies share user data. We won’t resemble other Internet company in that way, share, sale, perhaps offer data to be used at sale to advertisement representative. The virgin support of the people that I am Epic controls a partner, I do not allow this kind of circumstance happening absolutely. ” he still explained the language that why serves a provision is such. “‘ share data with the parent company ‘ in one article, the parent company is not such independent investor and minority accuse Tecent pointing to era actually person, point to Epic Games Inc however. , this is the company of parent company Epic Games of the subsidiary of global each district of Epic Store. Because,the description here is actually as a result of taxation purpose, the company must establish subsidiary to be trafficced to the player of corresponding area in global place, and all data store at Epic Games head office. And all data store at Epic Games head office.. [……]

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Mine company is made newly ” H ” government-owned net updates welfare of Xin Meng younger sister to pursue sweet colourful suck eyeball

Recently ” mine company ” the line on Compile Heart a government-owned net that makes newly mysteriously, the page shows make code name newly be ” H ” , game will be announced formally on January 24. Government-owned net address: Click enter the welfare that government-owned net updated new bud younger sister again now to pursue, still appeared in webpage lower part ” チ of ス イ ッ ” (Switch) model of written characters, make newly in the suggestion probably will land Switch platform. New bud younger sister is looked at resembling is Li Li Ya, she ever was in ” delimitation protruding is written down ” in waiting for work, had come on stage, have the bud property of innocent romance. [……]

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” Wanda and colossus ” announce taste model price newly to exceed 5500 yuan!

Prime 1 atelier announced ” Wanda and colossus ” collect edition model, price 830 dollars, amount to RMB makes an appointment with 5563 yuan, need 82.9 dollars to book gold. This model is the first colossus that the player in game encounters, valus of bovine tribal chief. This Valus model will have LED lamp to illume double eye, the weakness place of the top of head still has corresponding glow demon to imprint. And the top of head still can bend over a Wanda, preparing to insert the weakness of colossus with the sword. This Valus model still has the top of head of additionally two exchangeable, it is to do not have the Wanda, the top of head that weakness demon imprints respectively, and without the Wanda, the top of head that imprints without weakness demon. In addition this model still will roll out demarcate edition, sit in what Wanda increases on afore-mentioned content foundations ride, courser Agro. Interested player can nod this to examine commodity detail. ” Wanda and colossus ” coming out first is to be on the PS2 lead plane 2005, become classic look to make immediately. Not only the mechanism is original, appreciate law shock, and the picture is banner also PS2 a times. Later ” Wanda and colossus: Refashion edition ” landing PS4 2018, raise resolution, add more setting detail. Model parameter: Dimension: Tall: 46.8cm is wide: 49.1cm is long: 50.8cm eye and demon imprint have LED lighting effects base of a theme can replace the top of head 1 times (hair enclothes) 1 can replace the top of head (Wanda is about to atttack demon to imprint) an Agro model (be restricted only demarcate edition) Agro dimension: Tall: 5.3cm is wide: 6.7cm is long: 2.9cm[……]

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Listen attentively to ability to search truth NEXT STUDIOS to be made newly ” doubtful case seeks voice ” the line on Steam store page

Listen attentively to ability to search truth NEXT STUDIOS to make newly ” doubtful case seeks voice ” time of the line on Steam store page: 2018-12-13 13:06:00 origin: Official author: The government edits: Taikeaile
The independent game that develops by NEXT STUDIOS makes newly ” doubtful case seeks voice ” (English name: Unheard)steam store page is formal already go up line. Go up together along with store page of the line, still have ” doubtful case seeks voice ” a video of hair conduct propaganda. As we have learned, ” doubtful case seeks voice ” it is riddle of a frequency kind independent game, the player will be reincarnate in game ” acoustical sound ” get clew information with the means of eavesdrop and inference, open answer to a riddle to find out final truth then. Game general is issued at formal in January 2019 Jiesuo, we let see next store pages reach a hair to publicize the information that video shows fully together before this! ” doubtful case seeks voice ” head video of hair conduct propaganda:
For the player of independent to having deep love for game, this name scarcely meets NEXT STUDIOS unfamiliar. ” Azrael came ” , ” Nishansaman ” , ” Ou Wu Europe ” , ” rainbow drops ” , ” deep and remote forest talk quite ” … have characteristic, interest playing a way alone by right of many picture wind the independent game with very idea, NEXT STUDIOS was obtained numerous swim alone of the player approbate. This second roll out ” doubtful case seeks voice ” , it is to win award of IndieCade of independent game carnival early or late more award of section of game of nomination, Sweden nomination of award of innovation of play of part of game of world of nomination, Su Li, ” function of the academy of fine arts central and artistic game exhibit CAFA greatly ” the award of multinomial domestic and international game such as game development award. The introduction reachs a hair to publicize video related the game that carries store page, we most what experience first is ” doubtful case seeks voice ” distinctive game draws wind. Serve as with ” frequency riddle ” the independent game that plays a way for core, ” doubtful case seeks voice ” in integral art style accuse to go up to show contracted instinctive quality, no matter be advocate the sharp contrast of cold tonal art style, smooth dark setting, still be the application that setting empty turns, give the riddle atmosphere of game oneself without one not proper apply colours to a drawing, let the player’s better riddle world that is enmeshed in frequency to form thereby. And to the way playing related game, head sent propagandist video to also be made preliminary demonstrate. The part of player personate from inside sleep deeply slowly awake, come back namely the multinomial detective that open belongs to him tries refine. Carry electronic equipment, enter the frequency world that interweaves with suspense and mystery group: Person of listen respectfully dialogue, number, collec[……]

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