Nov. 14 Mark Siffin, the Chairman and CEO of real estate development firm Maefield Development, is in the process of planning and developing two massive and prestigious properties in New York City. The first is the Times Square Gateway Center, with construction well underway and slated to be complete later this year. The second is the iconic Plaza Hotel on 5th Avenue, which is scheduled to undergo restoration and redevelopment. The Times Square Gateway Center has been a labor of love for Maefield Development and its visionary leader. Mark Siffin monitored real estate in New York City's Times Square for a decade before jumping in on the project at 701 7th Avenue. Siffin began assemblage of the site in 2010, Maefield Development gained full control of the property in 2012, and construction began in 2014. When complete in Q4 of 2017, the 345,000-square-foot complex will feature 220,000 feet of retail and entertainment space on the first six floors, topped by a 30-story, 450-room Marriott Edition Hotel, not to mention 20,000 square feet of LED signage overlooking busy Times Square. Siffin has already locked in deals and signed leases with Marriott International, Cirque de Soleil, Hershey's, and the National Football League. The project has a reported price tag of $1.1 billion, but the property is projected to reach a value of $3 billion upon completion. Maefield Development holds a 50% ownership stake in the Times Square Gateway Center. In a city full of iconic buildings, New York City's Plaza Hotel numbers among the most recognizable and revered. This mixed-use structure at the intersection of 5th Avenue and 59th street overlooks Central Park and is nestled in one of the most expensive and prestigious areas of the city. Despite being positioned on prime real estate along the city's luxurious 5th Avenue retail corridor, The Plaza has not been utilized to full commercial advantage, an oversight Mark Siffin sought to remedy when Maefield Development took control of the property in 2016. A $1.4 billion planned restoration and redevelopment project will preserve the heritage of this landmark structure while introducing a multi-story retail space and a five-star urban hotel worthy of this prestigious building and location. About Maefield Development: Maefield Development is a privately-owned real estate development firm established in 1991 with founder Mark Siffin serving as Chairman and CEO. The company has successfully acquired, developed, and/or sold over 6 million square feet of property, including residential, retail, hospitality, and office space in both urban and suburban markets, with particular focus on redeveloping underperforming urban properties in iconic, city center locations like New York City's Times Square, L.A.'s Sunset Strip, San Francisco's Union Square, and Miami's Ocean Drive. Fully integrated services allow Maefield Development to see projects through from beginning to end, and the company currently has over $9 billion in properties either under development or in operation. For more information, please visit www.maefield.com.
BY SANDRA HERRERA  NOVEMBER 13, Cold weather has officially swept over NYC and if you're lucky enough to live in one of the below newly-built rental buildings, you basically don't ever have to venture outside. From indoor dog parks to heated pools, these new developments have it all.
365 Bond Street
8 Available Listings From $2,538/Month
          Part of this Gowanus building's allure no doubt lies in its transforming waterfront location, but it also has some amazing amenities to enjoy indoors. 365 Bond features a warm library with fireplaces, a gourmet catering kitchen with private dining, a resident's lounge, game room, and children's playroom. For health and wellness seekers, the building also comes complete with a fitness center, a yoga room, spin studios, and workout rooms with regular programmed classes. Oh, and when getting to your car is a struggle in the cold weather, there's indoor valet parking directly accessible from inside the building. Other valet services include dry-cleaning and dog walking.
LEVEL, 2 North 6th Place
9 Available Listings From $2,400/Month
      Next up is LEVEL, a brand new rental tower that boasts seriously spectacular views of the East River, Manhattan skyline, and Brooklyn. It contains condo-like apartment finishes and amenities that can be accessed year-round, including an indoor pool with a skylight, whirlpool, and steam room, a 24-hour fitness center featuring technogym cardio and weights, a yoga room with virtual on-demand fitness classes, a club lounge with game tables and a demonstration kitchen, and finally, a party room with a kitchen. A true community, member events and activities will be coordinated weekly by LivUnLtd Concierge Service. Other perks include valet services and a gorgeous furnished lobby with a fireplace and 24-hour concierge.  
ARC, 30-02 39th Avenue
7 Available Listings From $2,170/Month
      Over 50,000 square feet of amenities await in this popular LIC rental! ARC boasts great outdoor features (including a 70' long saltwater pool and interior park) but for the coming winter, lucky residents will have plenty to do inside with a 5,000-square-foot fitness center, a yoga, spin and private workout studio, resident's lounge, catering kitchen with private dining, library, collaborative and private work space, basketball court, game room with vintage arcade games, golf simulator, and even a year-round greenhouse for gardening and events. There are dog walking services and indoor valet parking accessible from within the building.  
507 West Chelsea, 507 West 28th Street
19 Available Listings From $2,833/Month
507 West Chelsea doesn't have a ton of amenities (compared to many on this list) but what it does have is pretty amazing and well-designed. Come wintertime, residents can retreat to the building's luxurious lounge with a fireplace or the heated indoor Scandinavian-inspired swimming pool. Other amenities include a recreation room with a full catering kitchen and communal table, and a modern and interactive kid's playroom. Fitness classes are also offered.  
The Eugene, 435 West 31st Street
13 Available Listings From $3,510/Month
        The Eugene, part of the Manhattan West development, probably has the most comprehensive set of amenities in NYC. It features a Bluestone Lane coffee shop, 2-story rock-climbing wall, fitness center, basketball court, crash pad media and entertainment room, arcade corner and golf simulator, billiards room, library lounge, and children's playroom. The building's Hudson Club additionally offers a piano lounge, poker room, and a private dining room with a catering kitchen. There's even a pet grooming station!  
555Ten, 555 Tenth Avenue
13 Available Listings From $3,255/Month
     Yup, that's a bowling alley. 555Ten has ensured its position as a top amenity building with its diverse package that is heavy on child and pet care. In addition to bowling, there's an arcade, children's playroom, fitness center with an indoor saltwater pool, studio classes, weight rooms, training studio with interactive Nexersys Boxing Exergame and spin bikes, full pet-care by Throw Me a Bone, an outdoor dog park (protected from the weather), and an all-season rooftop bar/lounge warmed by a fireplace.  
American Copper Buildings, 626 First Avenue
12 Available Listings From $2,975/Month
     This SHoP-designed rental is as striking on the inside as it is on the outside. The dual copper towers share amenities that include a breathtaking 75' skybridge lap pool, a whirlpool hot tub, Turkish-style marble hammam with plunge pool, double-height fitness center with city views, yoga and pilates studio, private spa and treatment rooms, rock-climbing wall, and a juice and health bar.  
21 West End Avenue
6 Available Listings From $2,850/Month
     This new Lincoln Center development has features for everyone - even your fur friend. 21 West End Avenue has an indoor dog park, library and cafe, arcade, wine tasting room, club room with golf simulator, gym, yoga and boxing studio, and a garage workshop for all your DIY projects. There's also an indoor lap pool.
VIA 57 WEST, 625 West 57th Street
11 Available Listings From $2,829/Month
      No surprise Bjarke's creation made it on the list. VIA 57 West is widely hailed as an architectural masterpiece, and it has the amenities to fit. Notable indoor features include a swimming pool, library, screening room, playroom, golf simulator, game room, fitness center, spin room, and a half-basketball court.  
Halo LIC, 44-41 Purves Street
21 Available Listings From $2,835/Month
     Another Long Island City development, Halo LIC offers its residents plenty to do indoors and away from the harsh cold. Amenities include a movie theater, pet spa, library lounge, game room, business center, fitness center with sauna, and yoga studio. And if you dare to venture outside, the building has a rooftop terrace with a fire-pit and a weather-proof pool table.  
NEW YORK—Created through a partnership between boutique hotel creator Ian Schrager and Marriott International, the Edition brand is slated to grow exponentially from a collection of four to eleven properties by the end of 2018. Following The Sanya Edition’s opening in December 2016, Edition’s Asian presence is scheduled to expand with two additional properties launching in Shanghai and Bangkok in 2018. In addition, the brand’s second and third European hotels are set for launch in Bodrum, Turkey, and Barcelona, Spain. Edition will launch its first outpost in the Middle East in Abu Dhabi, while the company plans to increase its U.S. presence with two properties located in New York’s Times Square and West Hollywood, CA. The brand’s rapid expansion is expected to continue with the addition of nine additional hotel launches planned across five continents by 2020, reaching a 20-strong property portfolio by the end of the decade with more to come, according to the company. Here are more details on the properties: The Shanghai Edition is a combination of two separate towers with 147 guestrooms. Set to launch in mid-2018, the hotel’s design includes 10 levels of public space, including five meeting studios and two forums, totaling over 2,800 sq. ft. Also launching in mid-2018, the Bodrum Edition will have 99 guest rooms, suites and villas all with views of the Aegean Sea, some with private pools, balconies and gardens. Amenities include an infinity pool, garden lounge, spa facilities with Turkish Hammam and fitness center, kids’ club and an exclusive beach club with jetty that houses private cabanas. The Times Square Edition will offer 457 guestrooms with four levels of public space, including a 5,000-sq.-ft. performance venue, a 1,900-sq.-ft. meeting studio, fitness center and a lobby lounge at check-in level. Set to open in mid-2018, the hotel’s F&B outlets will include a signature restaurant leading out onto a 5,800-sq.-ft. beer garden and event deck overlooking Times Square, and an all-day dining venue. The Barcelona Edition will have 100 guestrooms, a signature restaurant, lobby bar/café, Sky bar, swimming pool and state-of-the-art fitness center and a night club. It is slated to open in mid-2018. Known as Thailand’s tallest building, The Bangkok Edition will be located along Naratiwat Rd., close to North Sathorn Road junction. There will be 155 guestrooms and five levels of public space, offering over 5,500 sq. ft. of combined meeting space including a boardroom, main function room and outdoor banquet terrace. A mid-2018 opening is scheduled. The Abu Dhabi Edition will be situated in the downtown district on the waterfront of Al Bateen in the Abu Dhabi Marina. Accommodations will include 244 guestrooms and 57 exclusive residences. F&B will include two signature restaurants, a gourmet market, lobby bar, tea lounge, pool bar and three-story nightclub. It will open in late 2018. [caption id="attachment_22085" align="aligncenter" width="696"]US-Immigration-Fund-West-Hollywood-Img4 RENDERING: West Hollywood Edition[/caption] The West Hollywood Edition will open in late 2018 with 190 guest rooms, 20 luxury residences and over 5,200 sq. ft. of meeting space. F&B outlets include a signature restaurant, a lobby lounge, rooftop venue and a nightclub/bar.
By TRD Miami Staff | November 01, 2017 [caption id="attachment_23873" align="aligncenter" width="560"] Via Mizner, Frank Weed and Faisal Ashraf[/caption]

New York lender makes big bet on Boca Raton

Local developer Penn-Florida Companies scored a roughly $400 million debt package for Via Mizner, a massive mixed-use project in downtown Boca Raton.

New York-based private lender Mack Real Estate Credit Strategiesprovided  $318 million in financing to Penn-Florida Companies, while U.S. Immigration Fund, an EB-5 lender, lent $80 million. Lotus Capital Partners arranged the debt package, which is the largest financing in South Florida so far this year.

Overall, Via Mizner will span 2 million square feet with a 366-unit luxury apartment building, an 88-unit condominium building, a 164-key Mandarin Oriental Hotel & Resort and 60,000 square feet of retail.

The debt from Mack includes a refinance of the rentals, 101 Via Mizner Luxury Apartments, a construction loan for the hotel and a bridge loan for the condo site. Lotus will go to market for a separate construction loan in the low $100 million range for the condos later this year.

Pitbull to open restaurant in Miami Beach

The Nakash family has landed Pitbull as a celebrity tenant for one of its Ocean Drive hotels.

The international rap star and Miami native plans to open a restaurant called iLov 305 in the former Bon Air Hotel at 1060 Ocean Drive, Nakash attorney Alfredo Gonzalez said.

As part of the plan, the Nakashes will restore the building’s lobby and the facade to its original 1934 design. The lobby will have a cocktail lounge, a seating area and a daiquiri bar. The new restaurant, along with the kitchen, will extend down to the basement level. In 2012, the Nakashes — who parlayed their Jordache Jeans empire into a global real estate conglomerate — purchased the hotel’s ground floor retail space for $18.3 million. They also own the Hotel Victor at 1144 Ocean Drive and The Villa Casa Casuarina at 1116 Ocean Drive.

Pitbull, whose real name is Armando Christian Perez, will join fellow Cuban-American musicians Emilio and Gloria Estefan as the only celebrity restaurant owners on Ocean Drive. Pitbull also owns the Miami Grill fast-food franchise.

Brown Harris Stevens scoops up Miami brokerage

Brown Harris Stevens closed on the acquisition of Opulence International Realty in Miami.

It’s the latest brokerage buy for BHS, which entered the Miami market in 2015 with the purchase of Mark Zilbert’s Zilbert International Realty and later closed on two more firms. With the purchase, the New York-based firm is adding 35 agents, including broker Jill Patterson, to its roster. Opulence has primarily focused on downtown Miami and Coconut Grove, and it is bringing over about $40 million of inventory to BHS. In 2016, Opulence closed about $220 million in sales volume.

While BHS and Opulence declined to provide the price of the deal, mergers and acquisitions expert Steve Murray said that a firm brokering $220 million in annual sales could sell for at least $1.1 million.

With Opulence, BHS now has nearly 300 agents in South Florida, including six offices in Miami-Dade and four in Palm Beach County.

Phil Gutman, the executive vice president of BHS Florida, said the firm is now looking at the Sunny Isles Beach and Aventura markets.

[caption id="attachment_23799" align="aligncenter" width="777"] 111 Murray Close Up, photo by Tectonic[/caption]
YIMBY has been reporting on 111 Murray Street for several years at this point, and after breaking ground in July of 2015, it was at its fifteenth floor at this time last year. By August, it had topped-out, and glass had climbed over halfway up the exterior. Now, almost three months later, the crown is falling into place, and the 58-story and 800-foot-tall tower appears to be on track for an expected 2018 completion, as seen in the latest photographs from Tectonic. Kohn Pedersen Fox designed the building, which is being developed by Fisher Brothers, New Valley, and the Witkoff Group. Besides the 157 condominiums, there will be about 2,000 square feet of retail space in the ground floor, so the project’s impact won’t be confined to the skyline alone. [caption id="attachment_23801" align="aligncenter" width="683"] 111 Murray Street, photo by Tectonic[/caption] The design is an increasingly familiar take in Kohn Pedersen Fox’s repertoire, with “glassy flute” replicating the more angular 45 East 22nd Street, up in the Flatiron. While 111 Murray Street may not be the most distinctive tower on the Downtown skyline, at 800 feet it is still pretty substantial, and the glassy envelope is turning out to be fairly attractive. The most similarly-scaled projects in the surrounding blocks are 56 Leonard Street, to the northeast, and 30 Park Place, to the southeast, both of which have also opened over the past year or two. While other projects like 45 Park Place are also rising nearby, the core of the Downtown residential skyscraper boom will shift towards the depths of the Financial District over the next few years. 125 Greenwich Street is already rising, machinery is on-site at 45 Broad, and demolition is active at 80 South Street, which will ultimately be the tallest of them all. As for 111 Murray Street, full completion of the exterior is probably another few months out, but work is clearly nearing the finish line.  

TRD’s analysis of the top 12 countries investing in commercial real estate in Los Angeles in the past two years reveals Asia and the Middle...