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Apartment Builders Gearing Up To Benefit From Construction Slowdown

Residential construction in New York City has slowed significantly since 2016’s cracking pace, and multifamily developers say it is a welcome development that will help soak up supply. “I expect construction prices to fall off a cliff in 2019 and 2020. It’s a good...
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Q&A with HAP Investments’ Eran Polack: Finding a Successful Niche in NYC

As the experts onstage for “Boroughs on Fire” at Connect New York on April 17 will attest, a great deal of the development action these days can be found outside the Manhattan core. Yet HAP Investments’ Eran Polack, who will be among those experts, has long sought...
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MIPIM: US Experts Tell World America Is Loaded With Opportunities, So Act Fast

Those that attended Commercial Observer’s panel on United States real estate investing today—the second day of the annual MIPIM (or Marché International des Professionnels d’Immobilier) property conference in Cannes, France—were told there are ample deals to be made...
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HAP seeks ‘smart opportunities’ in New York’s emerging markets

HAP will continue to target emerging US markets, according to the investor’s co-founder and NY CEO Eran Polack, HAP is sponsor of the major conference on the US this morning. Talking exclusively to MIPIM News about his company’s investment targets, Polack...
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Jersey City council vacates street to developer, ending legal fight

The City Council Wednesday night finally adopted an ordinance that will pave the way for a high-rise near Journal Square, more than two years after a judge first ordered the city to take the action. The ordinance vacates a portion of West Street, a dead-end road off...
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HAP Investments LLC Acquires 65 Franklin Street for $46 Million

HAP Investments announces the acquisition of 65 Franklin Street (also known as 360 Broadway), a 5-story vacant residential property in Tribeca. The $46 million transaction closed today. In addition, HAP Investments has secured inclusionary air rights to build a...
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Super Fi Emporium Opening Second East Harlem Supermarket

Super Fi Emporium is opening its second full-service supermarket in East Harlem, Commercial Observer has learned, after spending $10 million on a commercial unit yesterday. The new market will span the entire 12,750 square feet of ground-floor retail space at HAP...
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2211 Third Avenue Ribbon cutting

Ribbon cutting Ceremony for 2211 Third Avenue, AKA HAP Ten, in East Harlem New...
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East Harlem Gets a Colorful New Addition from Karim Rashid

Forget millennial pink: Designer Karim Rashid looked to good old-fashioned magenta in his latest project, the HAP 5 tower in New York’s East Harlem. The project is an 8-story, 20-unit residential building whose modular, geometric facade features pops of...
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HAP Investments Adds Yehuda Kestenbaum As CFO

HAP Investments, a New York-based international real estate investment and development company, announced that Yehuda Kestenbaum has joined the company as Chief Financial Officer. The announcement was made by Eran Polack, CEO of HAP Investments. Kestenbaum joins HAP...
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In the News

In this issue: – A New Place on Sutton – Modern Church Lets the Sun Shine In – Halletts Point on the High-Rise – New Gateway to the Garden – Believing in the Benefits of Beekeeping A New Place on Sutton The Sutton, a 30-story,... read more

THIS WEEK’S NY DEAL SHEET

It’s been in the works for a while, and now ink has met page on RXR’s purchase of the Helmsley Building at 230 Park Ave from Monday Properties and Invesco for $1.2B. The 34-story, 1.4M SF trophy office building is just the latest in a year that’s seen several... read more

The week in industry hires and promotions: April 27-May 1

Who got hired or promoted this week? Here’s our weekly rundown, in chronological order. Monday, April 27 Lawrence Yuan Former LinkedIn and Yahoo! engineer Lawrence Yuanwas named senior director of engineering for Auction.com. “User experience has always been a top... read more

HAP to launch IPO on Tel Aviv Stock Exchange

HAP Investment Developers plans to launch an initial public offering on the Tel Aviv Stock Exchange later this year, the latest in a line of New York City developers going to Israel for capital. HAP is looking to raise $30 million, or roughly 120 million shekels, in... read more