Property Grunt

Thursday, July 03, 2008

Roll Call: The Real Media Estate Rollout

This Jared did not shed any weight but I am sure he feels alot lighter after getting rid of that debt.

SURPRISE! Another roll call! I was going to hold off but I have been emailed a lot of interesting stories.

Carlyle Group Buys Stake in 666 Fifth's Retail for $525 M.

The Carlyle Group closed today on the purchase of an interest in the retail condo at 666 Fifth Avenue, the tower that Kushner Companies bought last year for a then-record $1.8 billion, according to a source familiar with the deal.

Looks like Jared is really happy about this.

The deal, which is being financed by Barclays and SL Green and was brokered by Carlton Group chairman Howard Michaels, comes at a good time. This transaction will allow the Kushner Companies to pay off $335 million in short term debt obligations

Kushner will retain a 51 percent interest in the retail condo as well as continue to own fully the 1.45 million-square-foot office tower where it's located. (Jared Kushner, a principal at Kushner Companies, is The Observer's publisher.)

A spokesman for Kushner Companies had no comment.

Honestly, whenever I think of the Carlyle Group, I think of this genius and how his bravado got him canned.

I got this email from Feren Communications. (Thank you Sarah for contacting me and putting me on your list. Btw, my invitation to make you famous is still open)

When I read this press release, I was pretty shocked. When the real estate boom was in full swing, there were a ton of these real estate reality shows on tv. Nowadays I haven't seen alot of them. The only thing associated with real estate are foreclosures and bad times. The fact that BRAVO has decided to go march on with these shows just goes to show how much faith they have in these brands. Honestly, I am curious to see how they fare now and I would probably watch just for the possibility to see a train wreck.


Series Follows Hollywood’s Top Agents As They Navigate The Cutthroat World Of High-End Real Estate

NEW YORK, NY – June 24, 2008 – Bravo gives viewers an inside look at the top agents in Los Angeles's tough real estate market, who despite the softened market, stop at nothing to close seven figure deals on the second season of "Million Dollar Listing." The six-episode, one-hour docu-series, which looks at the high-stakes, cutthroat world of real estate, premieres on Bravo on Tuesday, August 5 at 11 p.m. ET/PT immediately following the finale of “Flipping Out.” The series moves to its regular time period on Tuesday, August 12 at 10 p.m. ET/PT.

"Million Dollar Listing” follows the lives of Josh Flagg, Madison Hildebrand and Chad Rogers, three of Los Angeles' hottest, young and aggressive realtors in the making as they make a fortune selling multi-million dollar properties in the most exclusive neighborhoods – Hollywood, Malibu and Beverly Hills. Over the course of nine months as their paths cross and they compete and expose the intense what that it takes to move the multi-million dollar listings in the City of Angels.

Where are my manners? How could I forget Kelly Kreth?

She is a rep for NY Residential featured on the CW. Here is the trailer.

Last but not least, of course others may differ, the late Leona Helmsley has the last word.

Helmsley’s Fortune May Go to Benefit Dogs

Sure, the hotelier and real estate magnate Leona Helmsley left $12 million in her will to her dog, Trouble. But that, it turns out, is nothing much compared with what other dogs may receive from the charitable trust of Mrs. Helmsley, who died last August.

Her instructions, specified in a two-page “mission statement,” are that the entire trust, valued at $5 billion to $8 billion and amounting to virtually all her estate, be used for the care and welfare of dogs, according to two people who have seen the document and who described it on condition of anonymity