Adam Milstein; a great Philanthropist

You may have heard earlier about Adam Milstein as the prominent Israel Investor in real estate. It is beyond doubt that Adam Milstein has left a mark on the real estate world as Hager Pacific Properties managing director who has a very impressive Portfolio of over 2 billion dollars in a high number of properties that it manages and owns in the country. While the professional pursuits of Milstein in the industry of real estate are admirable enough on their own, Adam Milstein has also managed to make himself be recognized as among the most recognizable and active Jewish Community philanthropists.

Adam Milstein is perhaps the best known in the world of Philanthropy for his major involvement with family foundation known as Adam and Gila, which mentors and supports students across the globe in getting back to their Jewish roots and reinforcing their Israel connection. Adam still is active in the foundation work together with his wife. In recognition of the incredible dedication of Milstein to philanthropy and community service, he made his name to be included in the Philanthropists and Social Entrepreneur list of top 200.

In addition to the strong service to the community and work in Philanthropy, Adam Milstein has given back to the community of the Jews through founding the Israel-American Council which main work is to foster U.S and Israel relationship. Besides that, Milstein has tirelessly worked to assist spearhead the role and expansion of influence in the developing of American foreign policy regarding the relations of Jewish and Israel in general. Adam Milstein is not afraid to talk about matters of protecting the Jewish people or standing for the oppressed around the world.

To continue his mission of advocating for the people of Jewish community across the world, Adam Milstein often is a contributor and writer to a lot of noteworthy publications. Adam often speaks on the importance of the Jewish people learning to write and read in the Hebrew so that they are well able to engage in even more connection with their culture and religion. What distinguishes Milstein from the other philanthropists is that he engages with the community and not write checks while on Charitable organization boards.

 

New Brunswick Devco Explains Loan Repayment Problems

The problems facing the leisure based economy of Atlantic City have been well documented, but have recently been highlighted by the failure of the Middlesex County Improvement Authority to make a $1 million repayment installment on a $20 million loan. The outstanding monies were to have been repaid to the to the Casino Reinvestment Development Authority, which claims it has not received any loan repayments for a number of years, the Press of Atlantic City reports.
The initial loan was made to the Middlesex County Improvement Authority through the New Brunswick Development Corporation, which was responsible for The Heldrich casino complex being developed in Atlantic City. Headed by attorney Chris Paladino the New Brunswick Development Corporation and the newly established Atlantic City Development Corporation have been created with the aim of redeveloping New Jersey in the face of economic problems.

The not for profit group has the aim of not only redeveloping the Atlantic City area for economic good, but also aims to assist the community of the area in line with specific public policy goals. Alongside The Heldrich development the New Brunswick Devco also looks to assist the people of New Jersey in receiving access to the best in arts, healthcare, and education programs.

Redeveloping the Atlantic City and New Brunswick areas will see the Atlantic City Development Corporation oversee the use of more than $200 million in financing from public and provate sources in the coming years; the Devco group is a major part of the development of the Chelsea Gateway development that will include a similar CRDA loan to that provided for The Heldrich development. Christopher Paladino believes the loan made for the 235 room Heldrich will be repaid for all investors as the hotel and casino continues to see higher levels of occupancy.

 

Manhattan Real Estate Prices Continue To Rise

Manhattan real estate prices continue to rise, year over year, according to TOWN Residential, New York’s leading luxury real estate services company on townrealestate.com. In their most recent report, which covers the fourth quarter of 2015, they saw a 5.2% increase in the average sales price of Manhattan real estate.

The average selling price was $1,967,660 while the median sales price was $1,150,000, representing a 16% increase year over year. Many were expecting the Fall “soft patch” to have a negative effect on prices but that has not come to fruition.

In addition, the average price per square foot is reaching record levels. The end of 2015 saw the median price per square foot reach $1,365, which correlates to a 6.2% year over years gain. Average price per square foot came in at an impressive 8.4% increase at $1,505.

The median price for a Manhattan condo saw a 20% increase over a one year period at $1,736,250. Manhattan co-op prices had a relatively modest price increase with the median sales price coming in at $1, 272,902, a 4.6$ increase.

Andrew Heiberger, founder and CEO of TOWN Residential, attributes this quarterly increase to the closing of “trophy listings” in some high end new developments. He goes on the state they his firm is seeing some “stabilization” in prices as many sellers are now adjusting their price expectation lower.

TOWN Residential sees the power shifting to the buyers who are still willing to purchase but are becoming more price conscious.

The Future of New York Real Estate

New York City apartments for sale prices are escalating. The previous year was not any different. The One57 penthouse closed at $100.47 million while the condominiums at 157 West 57th hit the nine-figure digits. All over Manhattan, it was reported that the prices of town houses and condominiums had increased. It was a good year for real estate agents who recorded big sales.

In the coming months, the value of real estate in New York City is expected to go higher with the addition of the billionaire bunkers. They are scheduled to be added in areas such as the 432 and 520 parks, 220 Central Park and 56 Leonard. The record price will likely be doubled especially if a mega deal is reached in the coming years. Kenneth C. Griffin, a hedge fund manager with a net worth of $7 billion, purchased a triplex at Central park for about $ 200 million last summer. The purchase is not only the city’s largest single residence sale but the country’s largest single purchase.

Currently, half of the apartments at 220 Central Park South building created by Robert A.M Stern Architects are under contract. According to the chief executive officer of Vornado Realty Trust Steven Roth, Fourteen of the units were sold for about $50 million. According to the inventory, it is safe to say that the increased demand in real estate will boost the sales for the next couple of years.

According to the publication by New York Times, the top 20 sales of the year went for over $30 million while the top ten went for over $45 million. The sales included luxury condominiums, town houses and co-ups. The city’s most expensive single residence of 2015 went for $88 million.

Town Residential is a real estate firm based in New York City. The firm’s areas of focus are luxury residential and commercial real estate. Andrew Heiberger serves as chief executive officer Town Residential, which was founded in 2010. In the few years of its existence, Town residential has managed to carve a niche in the real estate industry.

The company has four offices within New York City to facilitate ease of access by the clients. The firm leases, markets, sell commercial and residential real estate. The corporation hires professionals that have been fundamental in boosting the firm’s image in the market. Town Residential has received a number of accolades for its contribution in the growth of the real estate sector and exemplary services.