Sunday, April 19, 2020

Foreclosure Starts Decrease Eleven Percent From a Year Ago


Todd Teta

IRVINE, CA— ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), released its Q1 2020 U.S. Foreclosure Market Report, which shows there were a total of 156,253 U.S. properties with a foreclosure filing during the first quarter of 2020, up 42 percent from the previous quarter but down 3 percent from a year ago.

The report also shows a total of 46,800 U.S. properties with foreclosure filings in March 2020, down 3 percent from the previous month and down 20 percent from March 2019 — the third consecutive month with a year-over-year decrease in U.S. foreclosure activity.

"As foreclosure activity across the country continued to decline in March, contributing to a run of quarterly declines, the number of filings remains just one-sixth of what it was following the Great Recession a decade ago," said Todd Teta, chief product officer at ATTOM Data Solutions. 

"This latest sign of the strong national housing market, however, comes with a huge caveat because it captures the pivotal month when millions of Americans started losing their jobs because of the economic fallout connected to the Coronavirus pandemic

"Banks are temporarily holding off on foreclosures and we expect this will bring foreclosures even lower for at least the next few quarters.  

"However, with unemployment and other distress factors hitting the economy now, the numbers could rise significantly later this year and into next, depending on how many people can't keep up with their payments.”

For a detailed analysis of the report, please contact:


Christine Stricker
949.748.8428
christine.stricker@attomdata.com

or

Data and Report Licensing:
949.502.8313


U.S. Property Taxes Levied on Single Famiy Homes in 2019 Increased to More Than $306 Billion


Todd Teta

IRVINE, CA — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS),  released its 2019 property tax analysis for more than 86 million U.S. single family homes,

The report shows property taxes levied on single family homes in 2019 totaled $306.4 billion, up 1 percent from $304.6 billion in 2018 and an average tax amount of $3,561 per home — an effective tax rate of 1.14 percent.

The average property taxes of $3,561 for a single-family home in 2019 was up 2 percent from the average property tax of $3,498 in 2018, and the effective property tax rate of 1.14 percent in 2019 was down from the effective property tax rate of 1.16 percent in 2018.


The report analyzed property tax data collected from county tax assessor offices nationwide at the state, metro and county levels along with estimated market values of single-family homes calculated using an automated valuation model (AVM). 

The effective tax rate was the average annual property tax expressed as a percentage of the average estimated market value of homes in each geographic area.

“Property taxes levied on homeowners rose again in 2019 across most of the country. But the nationwide increase was the smallest in the last three years, a sign that cities, towns and counties are taking stronger steps to clamp down on how much they hit up property owners to support schools and local government services.” said Todd Teta, chief product officer for ATTOM Data Solutions. 


“Without major changes in the way local government and educational systems are funded, demands for good schools and other services will continue to put upward pressure on property taxes. But on balance, 2019 was a relatively mild year for taxpayers around the nation.”

For a detailed analysis of the report, please contact:

Christine Stricker
949.748.8428

or

Data and Report Licensing:
949.502.8313

Marcus & Millichap Arranges $570,000 Sale of Nine-Unit Apartment Block in Sanford, FL

        
Andrew Birr
SANFORD, FL  Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of 611 Park, a 9-unit apartment property located in Sanford, Fla., according to Justin W. West, vice president/regional manager of the firm’s Orlando office. 

Casey Babb
The asset sold for $570,000 in a competitive bidding environment.

Andrew Birr, Casey Babb, CCIM, Luis Baez, CCIM, and Shawn Rupp, investment specialists in Marcus & Millichap’s Orlando office procured the buyer, a limited liability company.

Luis Baez
611 Park is located at 611 S Park Ave in Sanford, Fla. The property is a 9-unit apartment community that was built in 1928.

 Located in the northern part of the Orlando MSA, the property is well-positioned in burgeoning, historic Downtown Sanford and is 30 minutes from Downtown Orlando. 

“The property’s cash flow is strong at a takeover 8 CAP with upside. Our buyers intend to reposition the historic asset with a major renovation and rebranding effort. 

Shawn Rupp
Justin W. West
"Our team’s deep market knowledge and ability to evaluate assets quickly helped our client win the deal,” says Andrew Birr.






Contact: 

Justin W. West
Vice President 
 Regional Manager
 Orlando
 (407) 557-3800


Saturday, April 18, 2020

Austin’s Historic Palazzo Lavaca on the Market for $5 million


This 1890 building was first a firehouse and then the world-famous Capitol Saddlery where custom-made-cowboy boots were sold to celebrities for as high as $3,000. a pair

Photo credit: Scott Basile           Source: www.kuperrealty.com

AUSTIN, TX --One of America’s fastest growing towns and tech hot spots, Austin, Texas has retained much of its Old West vibe and vibrant history including an 1890 building that was first a firehouse and then the world-famous Capitol Saddlery where custom-made-cowboy boots were sold for thousands of dollars.
T.C. “Buck” Steiner
(Photo by Threadgills)
Later, it was reborn as a stunning residence and event space while retaining much of its historical charm.
 Now for sale, the former Capitol Saddlery is priced at $4.95 million including the neon-lit boot above the home’s entrance, according to TopTenRealEstateDeals.com


Charlie Dunn
The unassuming building facade could easily be taken for almost any other Austin building near the University of Texas were it not for the gigantic boot above the entrance - a clue that it was formerly home to Capitol Saddlery.


 Carol King 
 The owner was T.C. “Buck” Steiner, a gruff rodeo rider with up to 100 employees, but the star was Charlie Dunn, a boot maker that Jerry Jeff Walker wrote a song about in 1972.


 Gene Autry
 Charlie’s boots were so well known that many celebrities wouldn’t dream of wearing boots made by anyone else.


Al Capone
 Known as the “Michelangelo of cowboy boots,” Charlie charged as much as $3,000 a pair and had a three-year waiting list.


Slim Pickens
 The wait didn’t phase clients like Gene Autry, Slim Pickens, Arnold Palmer, Carol King and even Al Capone.
Charlie died in 1993 and the Steiner family moved Capitol Saddlery to a new location in 2007. In 2008, the building was totally transformed by its new owners into Palazzo Lavaca, a stunning residence and event space.
Arnold Palmer

While maintaining its Old West character in the original floorboards, paneled-and-transomed doors, exposed brick and some worn paint surfaces, it has introduced an upscale cowboy-and-cowgirl look with coffered-living-room ceiling, Italian chandeliers, Fortuny wallpaper and gold-leaf ballroom.


Janis Joplin
Measuring at 6,780 square feet of living space, it has three bedrooms, three full baths and four half baths. In addition to huge multi-use rooms, the kitchen is large enough for catering but also for producing family meals, ensuite bedrooms are elegant, the media and game room is large and comfy and it all opens out to a rear courtyard that still retains artifacts from the boot business.


Stevie Ray Vaughan
Austin isn’t just about producing music celebrities such as Janis Joplin and Stevie Ray Vaughan, it’s about ideas and creativity that runs the gamut and is grandly displayed in Palazzo Lavaca.

Kumara Wilcoxon
From the number of celebrities who have walked through its front door to choose the style of their next pair of pricey cowboy boots to the tinkle of cocktail glasses from the party in the gilded ballroom, Austin has it going on.
Now for sale, Palazzo Lavaca is priced at $4.95 million, listed by Kumara Wilcoxon of Kuper Sotheby’s International Realty in Austin.

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504

Twitter:  @toptenrealestat
facebook.com/toptenrealestat  

The Godfather Part II Lake Tahoe, NV Estate Sale Asking $5.5 Million


 Actually located on the California side of Lake Tahoe, the property (above), used in the Godfather II movie, is now an exclusive development that was originally built in 1938 by 300 workers in just 29 days for industrialist Henry J. Kaiser

Photo credit: Sotheby’s      Source: www.sierrasothebysrealty.com

LAKE TAHOE, NV -- A home in the stunning estate on Lake Tahoe that was used for a number of scenes in The Godfather Part II including the Fredo Corleone lake murder, the Michael and Kay Corleone machine-gun assassination attack in their bedroom, and the Corleone son’s First Holy Communion celebration is for sale at $5.5 million.


Henry J. Kaiser

At Tahoe’s water’s edge, Fleur du Lac represented the film version of the Corleone-family and their move to Nevada to sell their interests in their Las Vegas casinos as part of the plan to make the mob family more legitimate, according to TopTenRealEstateDeals.com.
 Actually located on the California side of the lake, it is now an exclusive development that was originally built in 1938 by 300 workers in just 29 days for industrialist Henry J. Kaiser.
 Kaiser, who built the Hoover Dam and many of World War II’s military ships and aircraft, and his friends spent much time racing their boats in the lake and he named his enclave Fleur du Lac (Flower of the Lake) after his favorite racing boat. He built a number of the still-existing structures, club house, yacht club and office buildings.


Katherina Haug
Now a luxurious private resort, Fleur du Lac Estates spans 15 acres with 22 private townhomes with the yacht club and marina open to all residents.
In addition to tennis courts, there is an exercise facility with locker rooms and steam showers, heated pool and jacuzzi and a private beach.
 The yacht club has a guest apartment named the Kaiser Suite and there is an outdoor terrace for scenic viewing, a bocce ball court and private marina with personal boat slips.
On-site concierge management oversees resort services and there is also a property vehicle and driver available.
Originally the Fleur du Lac property developer’s own home when the townhomes were added in the 1980s, the 4,200-square-foot home with four bedrooms and five full baths is located in a prime position lakeside.
Renovated and updated to 21st-century standards, many of its original touches remain such as the interior carved-wood columns, beamed ceilings and walls of glass with lake and mountain views.
Large stone fireplaces grace the great room, library/media room, two of the four guest suites and master suite that turn chilly evenings into warm gathering places.
The chef’s kitchen is a beautiful spot for an intimate meal or cheerful breakfast overlooking the lake but is outfitted on a scale large enough to feed a sizable crowd.

Craig Miller
The stairs off the foyer lead to the second-floor bedroom suites where the hallway is washed in light from the rooftop cupola.
Fleur du Lac was touched by two geniuses: Henry J. Kaiser, legendary industrialist who had the vision to build it, and Francis Ford Coppola, legendary Hollywood director who used it as the backdrop for some of the most memorable scenes in The Godfather Part II.

Selling completely furnished and priced at $5.5 million, the home is represented by Katherina Haug, Tahoe City, CA and Craig Miller, Incline Village, NV, both of Sierra Sotheby’s International Realty.

CONTACT:

Genelle C. Brown
Content Manager, Media Division
TopTenRealEstateDeals.com
Phone:  434-480-4504

Twitter:  @toptenrealestat
facebook.com/toptenrealestat  


JLL completes $6.4 million sale of 3041 Webster Avenue Warehouse in Bronx, NY neighborhood of Norwood


Former warehouse of Sam's Carpet,  3041 Webster Avenue,
Norwood neighborhood, North Bronx, NY

North Bronx, NEW YORK — JLL Capital Markets announced it has completed the sale of 3041 Webster Avenue, a development opportunity in the Norwood neighborhood of the north Bronx, N.Y.  

 Karl Brumback 
The seller was Sam’s Carpet, a long-term owner-operator; Bolivar Development acquired the property for $6.4 million.

The development opportunity at 3041 Webster Avenue includes an existing two-story, 15,140-square-foot commercial, fireproof warehouse. 

The building was the former home of Sam’s Carpet, a carpet retail company, and offers 126 feet of prime frontage along bustling Webster Avenue.

The site is in an inclusionary housing zone and benefits from R7D/C2-4 zoning. It can support a residential zoning floor area of 63,588 square feet or an inclusionary housing zoning floor area of 84,784 square feet.

 Eric Tiefen 
The property is located on the west side of Wester Avenue just north of the Mosholu Parkway and offers easy access to the Bronx River Parkway. 

The building is within walking distance to the B and D subway lines as well as the Botanical Gardens Metro North train station. 

3041 Webster Avenue is steps away from the New York Botanical Garden and is conveniently located near the Bronx Zoo, Fordham University and the Bronx’s vibrant Little Italy.

The JLL Capital Markets professionals that represented Sam’s Carpet included Managing Director Karl Brumback and Directors Eric Tiefen and Brian Streilein.

“This was an incredible opportunity for Bolivar Development to acquire a significant development opportunity in the vibrant Bronx neighborhood of Norwood,” Brumback said. 

“3041 Webster Avenue is the ideal location for a mixed-use project with excellent public transportation options and easy access to some of New York’s most beautiful green spaces.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 

Brian Streilein
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.

Contacts:

George Shea, Mark Faris
Company:
 Shea Communications
Phone: +1 212 627 5766

Kimberly Steele
 JLL Senior Associate
Public Relations
Phone: +1 713 852 3420

JLL to exclusively market 121 East 37th Street Apartments in New York’s Murray Hill Neighborhood


121 East 37th Street
in New York’s
 Murray Hill neighborhood
 for sale at  $10.25 million

 Clint Olsen
NEW YORK, NY — JLL Capital Markets has been retained by PR 121 East 37 LLC to exclusively market and sell 121 East 37th Street in New York’s Murray Hill neighborhood. 

The 9,124-square-foot residential building includes 11 apartments. The owner is asking $10.25 million for the property.

The five-story 121 East 37th Street, located between Park and Lexington Avenues, offers one studio, one two-bedroom unit and nine one-bedroom apartments. 

The property was constructed in 1920 and underwent an extensive renovation that was completed in 2019. The renovation included high-end condo style finishes, and several of the apartments have private outdoor spaces or mezzanine loft spaces. 

 Brock Emmetsberger
The building has an elevator, and all of the units have high ceiling heights. The fully free-market property will be delivered vacant.

The apartment building is located in the heart of Manhattan’s office core and is within walking distance of Grand Central Terminal and the United Nations campus.

 It offers convenient access to the B, D, F, M, N, Q, R, W at Herald Square, as well as the 4, 5, 6, 7 and S at Grand Central, and several bus lines serving Manhattan.

Josh Gruber

 Located at the edge of the dynamic Murray Hill neighborhood and Midtown East, 121 East 37th Street is close to some of the city’s best restaurants and nightlife.

The JLL professionals overseeing the sale assignment include Managing Directors Clint Olsen and Brock Emmetsberger and Directors Josh Gruber, Albert Mamiye, Stephen Godnick, Ryan Kossoy and Reed Waggoner. Senior Managing Director Max Herzog will offer financing assistance.

Albert Mamiye
“121 East 37th Street is an excellent turnkey investment opportunity right off of Park Avenue and with quick access to Grand Central,” Emmetsberger said. 

“It’s rare to find a recently renovated elevatored building of this size with condo-level finishes. The apartment building offers an excellent opportunity for a low maintenance investment or a corporate housing operator looking to plug and play as a furnished rental.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. 


Stephen Godnick
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. 

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
 Ryan Kossoy




Contact:

 Olivia Hennessey
JLL Senior Associate
 Public Relations  
Phone: +1 713 852 3403