Knight Frank Singapore’s Post

🏢 Veris Residential Explores Options for $450 Million Property 💰 Key Highlights: * Veris Residential Inc. is considering a sale or refinancing for their $450 million apartment complex near Jersey City's waterfront. * They have enlisted the expertise of Newmark Group Inc. brokers, led by Adam Spies and Adam Doneger, to market the property located at 200 Greene St. (Jersey City Urby). * The building, completed in 2017, boasts 762 units with an impressive 97% occupancy rate🌟 Why Jersey City? * The area has experienced significant rent growth, attracting residents seeking more affordable options near NYC. * Median rent for a one-bedroom hit $3,300 in September, compared to $4,500 in NYC. 📈 Amenities include: * Pool 🏊♂️ * Gym 💪 * Yoga studio 🧘♀️ * Dog park 🐾 * Just an 8-minute walk to a train station with direct access to NYC. * Retail tenants include Glowbar and Domodomo restaurant. 🍽️ Market Insights: * The commercial-property market is showing signs of recovery following the Federal Reserve's recent interest rate cuts. 📉 * Demand for well-located residential properties is on the rise, while older offices are trading at significant discounts. Other Players in the Market: JPMorgan Chase & Co. and Fisher are also seeking financing of approximately $370 million for their residential project, the Vantage Collection in Jersey City. 🏗️ https://lnkd.in/gPkCCvxn

Brickell Still on FIRE! Miami (Brickell) waterfront site sells for US$520 million in record land deal. A WATERFRONT site in Miami’s financial district is set to be sold for more than US$500 million, marking the largest land transaction ever in the Florida city. Apartment Investment & Management (Aimco) agreed to sell 1001 Brickell Bay Drive and 1111 Brickell Bay Drive to an entity managed by Erik Rutter and David Weitz, the founders of Oak Row Equities. The combined 1.7-hectare properties are in the heart of a neighbourhood that has boomed in recent years, after an influx of financial companies and new residents. The buyers will pay US$520 million, Aimco said in a filing, with the potential for the purchase price to increase to US$540 million depending on certain financing arrangements. That would top the record US$363 million sale of a development site to billionaire Ken Griffin in 2022. Nearby, a 55-floor skyscraper at 830 Brickell received a US$565 million loan this year. The Brickell site “presents a once-in-a-lifetime opportunity to build a transformative project”, Rutter said. “A perfect blend of zoning, site geometry, bay frontage and location combine to create a truly irreplaceable piece of real estate.” Oak Row Equities is a New York and Miami-based property company with US$2 billion in assets under management. Another firm, Mariposa Real Estate, is also part of the buyers’ group, according to a statement. The firms plan to build ultra-luxury condos on the parcel, they said in the statement. The site, currently home to an office tower and apartment property, has roughly 148 metres of continuous water frontage facing Biscayne Bay and is zoned to allow for several towers as tall as 320 metres, according to the statement. https://lnkd.in/gJTyTgPZ

Victor Nolletti shares his insights on the New Haven commercial real estate market in a recent article by Hartford Business Journal: https://lnkd.in/e3CZzK7q #MarcusMillichap #CREMarket #CommercialRealEstate #HartfordBusinessJournal #NewHavenCRE

𝐁𝐮𝐲𝐢𝐧𝐠 𝐫𝐞𝐚𝐥 𝐞𝐬𝐭𝐚𝐭𝐞 is not just an important event, but one of the most significant steps in life, requiring a thoughtful and careful approach. Everyone faces a choice: 𝐭𝐡𝐞 𝐩𝐫𝐢𝐦𝐚𝐫𝐲 𝐦𝐚𝐫𝐤𝐞𝐭 (𝐧𝐞𝐰 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲) 𝐨𝐫 𝐭𝐡𝐞 𝐬𝐞𝐜𝐨𝐧𝐝𝐚𝐫𝐲 𝐦𝐚𝐫𝐤𝐞𝐭 (𝐞𝐱𝐢𝐬𝐭𝐢𝐧𝐠 𝐩𝐫𝐨𝐩𝐞𝐫𝐭𝐲). Both options have their pros and cons. The primary market offers new housing that can be adapted to your needs, while the secondary market attracts with ready-to-move-in properties, although they may require additional investments for repairs. When purchasing an apartment from a developer on the primary market, the following questions often arise: 1. When will the apartment be ready for move-in? 2. When will it be possible to inspect the property in person, rather than just looking at plans? 3. How closely will expectations match reality? 4. How much do prices differ between secondary housing and new builds? For example, I recently received an offer for a 2-room apartment, 46 m², in the Freimann district. The building was constructed in 1969, and it is scheduled to be handed over in 2025. The price, excluding notary fees and taxes, is €467,000. 𝐈𝐧 𝐜𝐨𝐦𝐩𝐚𝐫𝐢𝐬𝐨𝐧, 𝐦𝐲 𝐜𝐥𝐢𝐞𝐧𝐭 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞𝐝 𝐚𝐧 𝐚𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭 𝐢𝐧 𝐚 𝐧𝐞𝐰 𝐛𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐭𝐡𝐚𝐭 𝐰𝐢𝐥𝐥 𝐚𝐥𝐬𝐨 𝐛𝐞 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞𝐝 𝐢𝐧 2025 𝐛𝐮𝐭 𝐚𝐭 𝐚 𝐥𝐨𝐰𝐞𝐫 𝐩𝐫𝐢𝐜𝐞. This shows that prices for new builds and secondary housing can vary significantly, and new builds are not always the better deal. My main goal is to see the apartment with my own eyes as soon as possible and imagine how it will become a cozy home. After all, being able to envision the future space is an important step in the property selection process. #realestatepurchase #newbuildsmunich #realestateinmunich #Immobilien

Exciting developments are shaping South Florida's real estate landscape in 2024! This year has seen record-setting home sales and landmark financial maneuvers in both the luxury and commercial sectors. Notably, the Whitman family's involvement in a massive $740 million refinancing and construction loan for the expansion of Bal Harbour Shops underscores the region's appeal as a major retail destination. Additionally, the residential market is thriving, with escalating property values and intense competitive bidding attracting high net-worth buyers. The recent $80 million contract by BH Group to purchase a multifamily project in North Bay Village further highlights the dynamic and evolving nature of this market. For a closer look at these trends and key transactions in South Florida’s real estate scene, I invite you to dive into the full article for detailed insights. #SouthFloridaRealEstate #RealEstateTrends #LuxuryLiving #InvestmentOpportunities #BalHarbour #MiamiMarket #HomeSales2024 #CommercialRealEstate #HighEndRealEstate #PropertyInvestment

East London is leading the way for new build developments, with Tower Hamlets receiving a 7.2% influx of new stock in the past five years alone. https://buff.ly/3Zlj54N __ #eastlondon #newbuilds #towerhamlets #londonproperty #propertymarket

Exciting times ahead as we gradually work through a creative deal with an investor to bring a unique renovation project in Lincolnshire to life! This is our first major venture, involving a part-listed building with plenty of challenges to tackle. Once complete, the project will deliver a 1-bed, 2-bed, and 4-bed luxury home in a charming market town. Despite the current political climate, the UK housing market remains robust. According to recent data, UK house prices have risen by 5.4% over the past year, with demand for quality housing continuing to outstrip supply. This makes it the perfect time to invest in property, especially in high-demand areas like Lincolnshire. If you're cash rich, but time poor, maybe this is the time to start thinking about investing in property? #PropertyInvestment #RealEstate #UKHousingMarket #LuxuryHomes #RenovationProject #LincolnshireInvestment #ListedBuildings #InvestorOpportunities #HousingDemand #investorswanted

South Florida Commercial Real Estate Performance Summary Office and Retail Properties Show Widest Divergence in Performance Relative to Nation Over the last year, the South Florida commercial real estate market has remained resilient despite the wider economic slowdown. Still, moderate demand across property types has slowed rent gains, while new construction has widened space availabilities, particularly in the multifamily and big-box industrial segments. The most significant change from our prior update has been the marked slowdown in asking rent growth for the industrial segment. In 2023, industrial rents increased nearly 10%, but annual rent growth has now slowed to around 5% across the region. A slowdown in leasing activity, specifically from large third-party logistics (3PL) players, has impacted net absorption, with markets like Fort Lauderdale seeing net move-outs totaling over 700,000 square feet over the last year. Absorption is the change in the number of occupied square feet. Although large properties have around two to three years of supply availability, market participants have indicated that the institutional background of most of South Florida's large-block developers means they can afford to wait for the right tenant. Rather than dropping rent, landlords are offering a couple of months of free rent and tenant improvement allowances.

Delighted to see our director Marian McQuillan comments on the latest figures in the CSO Residential House Price Index Report featured in the media. "While today’s report points to a general rise in property prices of 10% not all property types have experienced similar growth. Homes requiring significant refurbishment have seen relatively modest appreciation compared to those in move-in condition, the disparity driven in large part by the high costs associated with construction and renovation. " #quillsen #thekeytoyourmove #CSOreport #housepricerises #housepriceindex #estateagent #sellingproperty #rentingproperty

How we turned “hopeless” properties into million-dollar wins 🏡💡 You’ve probably heard it: The best deals come from properties nobody else wants. But here’s the hard truth: Turning around a distressed property isn’t about quick flips. It’s about smart investments, strategic financing, and the right renovations. I’ve helped clients take properties others ignored and turn them into million-dollar assets. Here’s how. 💡 Case study #1: A run-down home in Brisbane, practically written off. The client? Hesitant, unsure if it could even turn a profit. Step one? Securing the right financing. We leveraged a construction loan—covering both the purchase and the renovation costs. With the finances set, the client wasn’t out of pocket during the reno. 💡 The strategy? Focus on high-impact renovations. We tore down outdated kitchens and bathrooms and brought in sleek, modern upgrades. Added value where buyers notice the most. But here’s the kicker—we kept the original structure, so costs stayed low. The result? A property that went from $450k to $800k in 18 months. Not because we spent a fortune, but because we understood what buyers really care about. 💡 Case study #2: A commercial property in Sydney, vacant for years. Everyone thought it was a dead asset. Step one? We saw its potential for redevelopment. We rezoned it from commercial to mixed-use and opened up its value in one move. 💡 The strategy? We didn’t rush. Held the property for three years while waiting for the local market to pick up. By the time we sold, it was worth twice the original price. Here’s the key takeaway: The value isn’t in what the property looks like today. It’s in where it can be.