1. More Luxury Apartment Buildings in Brooklyn, Crown Heights Big riot due to conflicting between Jews and AA in 1991 For last 10 years, new RE development occurred In 2014, 341 Eastern Parkway, 8 story luxury apartment building initiated as a good signal In 2017, 120 unit/8 story “Dean" apartment completed In 2018, 12 story, 185 unit apartment at 409 Eastern Parkway (1 bedroom → $2600, 2...
by stephenlee 1. 42 Story rental complex will be built near U.N. Building Luxury rental apartment “Summit New York” : 2 blocks from U.N. building Total 429 units /studio, 1, 2 bedroom, and 3 bedroom penthouse Entire glass wall from floor to ceiling Rent: 1 bedroom → from $4,500 /2 bedroom → from $7,700 / 3 bedroom penthouse → $30,000 Marketed by Elliman. (1st month rent is free) 2. 7 Story...
by stephenlee 1. Fort Lee, NJ did ground breaking for “Barrymore Film Center” In Memory of the place for birth place for US movies in 1900’s Name after actor John Barrymore /260 seats cinema Located in between Park avenue and Main street City council plans to solicit the bid in spring and award a contract in fall Will open in 2020 (host screenings of films, classes on how to make films, museum of the...
by stephenlee 1. Korean Restaurant “GumKangSan” filed bankruptcy again The restaurant (Owner: JiSung Yoo) filed chapter 11 on 7/12/2018 Frist chapter 11 filed in 2015 during wage dispute Debt is about $500K- $1M and Loaners are about 49, including fine by NYC fire department ($41,000) and Health department ($35,000) Real reason to file chapter 11 this time is to protect eviction by landlord Total debt to...
by stephenlee 1. Hilton Teaneck Glenpoint will be opened at Glenpointe complex in Teaneck Two hotels are connected in one building: The Hampton Inn & Suites Teaneck Glenpointe and the Homewood Suites by Hilton Teaneck Glenpointe 15 story buildings with lobby, fitness center, pool on the first floor, parking on 2nd, 3rd, 4th suites/ standard hotel rooms on the 5th through 15th floor Hampton inn has 190...
by stephenlee 1. River Edge, NJ → popular to younger family No real down town established (property tax is rather high) Great School district – River Dell High Train station to go to Manhattan “Van Saun Park” with Zoo attracts more parent with children Most houses built in1950 → ranch Sold houses till 8/31 → 80 houses (Median price: $512,500) → 8% up from last year Elementary schools:...
by stephenlee 1. Chinese Insurance Co, AnBang Group is selling Waldorf Astoria Hotel Chinese Investors are selling properties and leaving Manhattan. AnBang Group purchased Waldorf Astoria Hotel at $1.95B in 2014. China Government is controlling US Dollar and Investment in US after Trade war began. Package deal for 16 Hotels in US on the marketà Middle Eastern buyers are interested. Chinese sold total...
by stephenlee 1. New Public Parking garage in Fort Lee, NJ will be completed in Nov this year Capacity: 352 / 4 stories → Total 625 (outside parking: 273) Parking tickets in Fort Lee issued between 7/2017 – 6/2018 → 31,489 (8% Up from last year) Parking tickets in Palisades Park is down by 14% to 23,249 partially because of new parking spaces at the public library 2. NJ DOT begins Lincoln tunnel repair...
by stephenlee 1. School districts joining plan might affect Northern Bergen County schools Tenafly operates elementary, middle, high schools Closter, Demarest, Old Tappan have only elementary and middle schools. High school go to NVRH Stephen Sweeney (President of NJ Senate) proposed the plan that those towns with elementary and middle will be joined/merged→ 600 schools become 278, including Korean populated...
by stephenlee 1. Edgewater residents are conflicting with two big development project The lot at former golf range on River Road (vacant since July) → postponed the hearing due to conflict of interests → plan: to construct 3 buildings for total 670 apartments, each 200ft tall and 3 story parking deck, recreation center (developer is 575 River Road Edgewater LLC) Hess oil site (19 ac parcel) plans to build 1863...
by stephenlee