Farebrother’s Post

🌟 Exciting Developments in Georgetown's Commercial Real Estate Scene 🌟 Georgetown, with its blend of historical charm and modern appeal, continues to be a hotspot for commercial activity. From quaint spaces nestled in historic industrial buildings to sleek office complexes offering panoramic views of the Potomac River, Georgetown's commercial real estate landscape is as diverse as it is dynamic. Let's take a closer look at some of the latest happenings in this bustling neighborhood: Diverse Offerings: One of Georgetown's strengths lies in its ability to cater to a wide range of businesses, employees, shoppers, and visitors. With over 5.5 million square feet of retail and office space spread across 450 buildings, there's something for everyone here. Here's a glimpse of some notable projects: 🌟 Prospect Place: A five-story residential development that promises to add vibrancy to the area. 🌟 3000 M Street: A boutique hotel with retail and restaurant space, set to revitalize the former Latham Hotel site. 🌟 West Heating Plant: A transformative project converting an old heating plant into luxury condominiums and a public park, designed by renowned architects. 🌟 Georgetown Valero Station: A redevelopment project bringing luxury condominiums and dining options to the eastern gateway of Georgetown. Domino's Redevelopment: Ground floor retail combined with residential units, showcasing the neighborhood's adaptability. With each development adding its unique flavor to the neighborhood, Georgetown continues to evolve while staying true to its rich heritage. As these projects unfold, they are sure to further cement Georgetown's status as a world-class destination for businesses and visitors alike. For more information on these projects and other commercial opportunities in Georgetown, reach out allen@helm-ventures.com | jr@helm-ventures.com The future of Georgetown's commercial landscape looks brighter than ever! ✨🏙️ #GeorgetownRising #CommercialRevitalization https://lnkd.in/dcbVV_UU

Chicago's LaSalle Street Reimagined initiative aims to repurpose empty downtown office buildings into mixed-use residential towers. The plan includes converting nearly 2.3 million square feet of space into residences and retail in The Loop. Developers are incentivized to participate, with grants offered to local businesses to occupy vacant areas. Affordable housing is a key aspect, with at least 30% of each conversion dedicated to affordable homes. Other focuses include innovation, public realm enhancements, neighbor-oriented amenities, and historic building sustainability.

Cool things happening around Grand Central: 1. J.P. Morgan is negotiating to buy 250 Park Avenue, one block south of its headquarters under development at 270 Park Avenue. Their plans for 250 Park are still being developed, but it's likely the building will have amenity space and other offerings for their employees at 270 Park. 2. CBRE renewed its lease at 200 Park Avenue through 2037. Our firm is also taking over the leasing and management of the building. This is the only building I've ever worked in, and it's great to see our firm committing to 200 Park for years to come. 3. 245 Park Avenue is soon to undergo a major redevelopment. Plans include a new lobby, façade, windows, amenities, and a rooftop park with a glass pavilion. 4. Hopefully, 343 Madison Avenue and 175 Park Avenue will be built in the future. These would be new office towers near Grand Central, and the continued investment in the neighborhood would further improve the experience for workers and commuters through Grand Central. #commercialrealestate #realestate #officespace #development

Investment Opportunity: Fully Renovated Multi-Family/Mixed-Use Gem in San Francisco Excited to bring you this stabilized, 100% occupied property, located just blocks from Union Square, offering a blend of modern upgrades and historical charm. Here's a snapshot of the key features: 🏢 32 Studio Apartments + 1 Multi-Story Commercial Office/Retail Space 🏙 Unbeatable Location: Steps away from vibrant Union Square, a prime SF destination 🔧 Completely Renovated in 2022: From windows to electrical, plumbing, elevator, and more – no stone left unturned 🛠 Further Upgrades Set for Fall 2024: Lighting, fixtures, and floors for retail and office spaces 💼 Solid Income Stream: Retail tenant (a local nonprofit) has 3 years remaining on its lease 📊 Offering Details: Price: $9,899,000 Price/Unit: $299,970 Gross Rent Multiplier (GRM): 13.1 Yearly Gross Rent: $755,664 Net Operating Income (NOI): $507,573 Building Size: 20,187 SF Lot Size: 3,485 SF Year Built: 1911 This is a turn-key investment with little to no deferred maintenance, ideal for anyone looking to make a strong impact in San Francisco’s dynamic real estate market, much like how we aim to empower our communities with thoughtful, lasting investment decisions. NAI NorCal NAI Global Feel free to reach out to discuss how this opportunity can fit into your portfolio: 📧 jentrekin@nainorcal.com 📞 760-460-0416 #InvestmentOpportunity #SanFrancisco #UnionSquare #RealEstate #Multifamily #NAINorCal #EmpowerCommunities #BuildingValue

~ Transforming old beauties meeting modern needs ~ I witnessed the transformation of Madison Square Park at least since when I started selling real estate 21 years ago. The first agency I was associated with at the time located on 23rd Street just across the park🌳 Today, some of the prewar office buildings on the park's perimeters are converted to condominiums; an Italian food experience - Eataly, and a hotel - The Edition. Plus with the help of Flatiron Nomad Partnership making the the neighborhood an iconic destination with their efforts since 2006. The latest is not a conversion - a new stunning office tower built stacked on top of an existing prewar commercial building at One Madison. What's wonderful to see is that it is built with a few sustainable elements to reduce environmental impact and provide a healthy environment for their occupants. Here’s a promising snapshot of Manhattan condo and co-op contracts signed from November 2 to 8, 2024.  Some key highlights: 🪄Last week, 225 contracts were signed in Manhattan, down 2% week-over-week but up 23% year-over-year. 🪄This was the strongest first week of November since 2021. 🪄Sales have now increased by double-digit annual percentages in nine of the ten weeks. 🪄New development sales displayed the greatest annual percentage increase for the fifth time in six weeks, up 28% to 25 contracts signed. 🪄Sales over $5M rose 77% year-over-year to 23 signed contracts, their highest weekly total since May. 📩DM if you have questions. #flatirondistrict #madisonsquarepark #sustainablybuilt #flatironnomadpartnership #behome #livewhoyouare #prewarconversion #sellingnyc #manhattanrealestate #nycrealestate

Today's Did You Know in Commercial Real Estate Recent news surrounding the Flatiron Building in Manhattan has focused on its conversion from office space to residential units. The current owners—GFP Real Estate, The Brodsky Organization, and The Sorgente Group—are pushing forward with plans to transform the iconic building into 60 luxury condominiums. This comes as the building has remained vacant since 2019, when Macmillan Publishing left, and amid high office vacancy rates in Midtown Manhattan. The developers filed an application with the city to convert approximately 200,000 square feet of space into residential units, leaving only a small portion for ground-floor retail. Reports disclosed that the conversion may start in 2025. The Flatiron Building's distinctive triangular shape and historic status is said to remain largely unchanged, though it will undergo internal renovations to modernize it for residential use. This shift is part of a broader trend in New York City, where older office buildings are being repurposed to meet the growing demand for luxuryhousing. LEARN MORE: www.nyccrea.com FOLLOW US: Facebook: https://lnkd.in/gqGzQetJ Instagram: https://lnkd.in/gCX3yNkw LinkedIn: https://lnkd.in/ghpstcR8 #NYCCREA #NewYork #CommercialRealEstate #Leased #Sold #DouglasEllimanCommercial #DouglasElliman #DouglasEllimanNewYork #LlorensNakos #Llorens_nyccrea #AndreasNakosRealtor

A recent piece from Florida of Tomorrow sheds light on the remarkable transformation taking place in West Palm Beach. The county is rapidly establishing itself as a premier destination for finance, business and luxury living. Dubbed "Wall Street South," the city is drawing major financial firms from New York City, attracted by a favorable business climate and appealing lifestyle. This influx is driving a surge in urban development, with new mixed-use projects blending residential, commercial and entertainment spaces, significantly enhancing the city's vibrancy and economic potential. The city's skyline is evolving with numerous new office towers, luxury condominiums and revitalized public spaces, marking the area as a burgeoning hub for affluent residents, businesses and investors. This growth is not just about new buildings but about creating dynamic metropolitan environments that support a thriving community, making West Palm Beach an increasingly desirable place to live work, and invest. Learn more about some significant projects in the pipeline by checking out the article below:

Famed Sony Building Darlinghurst for sale by Colliers One of the largest warehouse conversions in Darlinghurst with 3,903sqm of GFA, 1-19 Hargrave Street Darlinghurst for sale by Colliers agents Matthew Meynell, Miron Solomons and Matt Pontey. Currently configured as a versatile office space across three levels, this icon of Darlinghurst is one of the largest warehouses left in the fringe precinct and presents as an exceptional asset,” Mr Matthew Meynell said. “With proximity to major transport links and key amenities, this premier position is not to be missed, with strong interest expected to come from smaller funds and nimble institutions looking for a strong investment with solid fundamentals,” Mr Miron Solomons said. The building was famously occupied by Sony Music and boasted creative office and sound studios, while offering an incredible amount of parking spaces when compared to other buildings in the fringe market thanks to its sprawling rooftop and on-grade options. “The Sydney city fringe has become increasingly difficult to break into given the limited supply and private centric market, meaning properties of this scale are rarely available to market,” Mr Matt Pontey added. The ASEAN Developer #colliers #darlinghurst #sydneyre #sydneyrealestate #commercialrealestate #warehouse #commercialproperty https://lnkd.in/gQDv-b-K

𝗔 𝗚𝗼𝗹𝗱𝗲𝗻 𝗦𝗼𝗵𝗼 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆: 𝟮-𝟯 𝗚𝗼𝗹𝗱𝗲𝗻 𝗦𝗾𝘂𝗮𝗿𝗲, 𝗪𝟭 Located in the heart of Soho, on one of the West End’s most striking garden squares, 2-3 Golden Square represents a rare opportunity to secure a freehold, period office property in one of London’s most vibrant and sought-after sub-markets. Behind its beautiful period façade, the property has 23,198 sq ft of open plan, warehouse-style Grade A office space across the lower ground, ground and seven upper floors. The floorplates are flooded with natural light and to capitalise on the property’s stunning views across Soho, an impressive 4 of the 7 upper floors also benefit from private terraces. Offering a diverse income profile, the building is multi let to 7 tenants, generating a passing rent of nearly £2m per annum. This reflects a reversionary rent of £84.88 per sq ft overall, which is significantly below Soho prime rents of £125+ per sq ft. The property offers a number of asset management opportunities – as outlined in the brochure below, with the potential to secure vacant possession in Q4 2026. Our client has instructed Simon Beckett, Guy Harris and Simon Hall to seek offers in excess of £40.3m for the freehold interest, reflecting a net initial yield of 4.50% and a capital value of £1,737 per sq ft. So, take a look through the brochure below, then get in touch with our team to discuss further: https://lnkd.in/ec8NQEkK #GoldenSquare #Soho #SohoOffices #WestEndOffices #LondonOffices #CRE #CommercialProperty #PropertyInvestment #OfficeInvestment #InvestmentOpportunity #LondonInvestment

Exciting Progress on Downtown Las Vegas Industrial Space Renovation We’re thrilled to share an update on our ongoing renovation project in the heart of downtown Las Vegas. Our vision to revitalize this industrial space is coming to fruition, with construction nearing completion. This project represents not just a transformation of space but an opportunity for businesses to thrive in a dynamic environment. As we approach the final stages, we have a limited number of spaces available, ranging from 600 to 3,000 square feet. These spaces are designed to cater to a variety of needs, from innovative startups looking for their first office to established companies seeking a creative and vibrant environment. This renovation is a testament to the potential that lies in thoughtful urban redevelopment and the role it plays in community and economic growth. We’re looking forward to welcoming businesses that share our vision for a revitalized downtown Las Vegas. Stay tuned for more updates as we prepare to unveil these unique spaces. We believe they offer an exceptional opportunity for businesses to grow and connect in one of the city’s most promising areas. Justen Kruse AREI COMMERCIAL NVRE: S.0196453 www.Vegasindustrialhub.com #LasVegasBusiness #UrbanRedevelopment #CommercialRealEstate #InnovationHub #ProfessionalGrowth #industrial #warehouse