Ben Thypin, senior market analyst at Real Capital Analytics, said the proposed plan would require the new investors to sell condo units at well above $2,000 a square foot to be profitable, and closer to $3,000 for some units, which would be difficult in the current market.
"I think it's extremely unlikely they could sell all the units at an average price per square foot at that level," he said.
Read More: http://therealdeal.com/newyork/articles/final-rescue-plan-by-ziel-feldman-s-hfz-group-at-one-madison-park-expected-within-weeks
Garden apartments led the charge. They jumped 80 percent year-over-year to $4.7 billion in volume. Mid- and high-rise sales grew at a more modest 14 percent clip year over year. The offering volume for garden apartments in first quarter was $7.2 billion, which is about twice the mid/high-rise total. Cap rates for garden apartments are around 7 percent, while mid- and high-rises are at around 4 percent. “The yields are better in garden,” says Ben Thypin, senior market analyst for RCA.
Last year, the major East Coast metros seemed to dominate sales. In the first quarter, other markets caught up. For instance, sales in Manhattan and Washington, D.C., fell (though Boston saw sales rise). "There seems to have been a slight pivot away from the primary East Coast markets. It was mostly because of too much competition for what little high-quality inventory is available, not lack of interest," Thypin says.
Read More: http://multifamilyexecutive.com/dispositions-and-transactions/first-quarter-apartment-sales-improve-by-almost-50-percent.aspx
"Thor gets a good quality property that is well leased for the decent price of a little more than $500 a square foot without having to put up much cash, since they assumed the $140 million loan as part of the deal," said Ben Thypin, senior market analyst at Real Capital Analytics.
Read More: http://therealdeal.com/newyork/articles/38207
Workout companies "definitely play a useful role in the services they provide and also by being a third party," said Ben Thypin, senior market analyst at research firm Real Capital Analytics, who was not specifically familiar with Breakwater. "Banks have to demonstrate to shareholders and regulators that they're getting market value (for soured real estate investments). Having a third party involved lends credibility to whatever amounts they're able to recover."
"During boom times, commercial real estate owners and developers took out financing without realizing what they were getting into and what their rights or recourses were if things went bad," Thypin said. "A commercial finance is very complex; there are often multiple loans, multiple stakeholders. To have someone who knows the market well and works on behalf of the owner puts them in a better position to negotiate a settlement that benefits them as much as possible."
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/04/22/BUIJ1J5IAQ.DTL#ixzz1KNXiiKRU
“Savanna has become a big player because they are willing to get their hands dirty, whether it be buying a loan in order to foreclose, investing in a property which needs significant renovation, or recapitalizing a struggling property via a joint venture,” said Ben Thypin, senior market analyst at Real Capital. “The traditional big players -- REITs, institutions, foreign investors -- aren’t always willing to get creative.”
Read More: http://www.bloomberg.com/news/2011-04-18/savanna-most-active-buyer-of-manhattan-offices-closes-550-million-fund.html
"Somebody who may not have been interested in a place like Raleigh last year may now have been priced out of the primary markets," said Ben Thypin, a senior market analyst with Real Capital Analytics, a New York research firm.
Read More: http://www.newsobserver.com/2011/04/15/1130799/commercial-real-estate-still-shuddering.html
Interview begins at 1:00
Clip is property of Bloomberg LP
Ben Carlos Thypin, director of market analysis at Real Capital Analytics Inc., a research firm with offices in New York, said Chinese investments are edging into smaller markets such as Toledo and Milwaukee, rather than only investing in places such as New York and Chicago.
“Over the past couple years, most if not all Chinese investment has been going to those major markets,” Mr. Thypin said. “In the past year we saw one in Milwaukee. What’s happening in Toledo is a continuation of that trend.”
Read More: http://toledoblade.com/local/2011/04/07/Deal-in-Toledo-reflects-chinese-business-trend.html
The Peter Cooper Village and Stuy Town loan represents the largest percentage of the pool, or 10.3 percent, and remains in special servicing under CW Capital. The 80-acre site, with more than 11,000 units, is currently under new management with Manhattan-based Rose Associates, which declined to comment.
The plan is to renovate 570 vacant apartments at a cost of $48 million, and Fitch says the property is performing below where it needs to be to service the debt. The securitized loan balance of $267,000 per unit, however, is below that of many other New York multi-family properties. The building was 94 percent occupied at the end of February.
"That doesn't sound like anything substantively changed," said Ben Thypin, senior market analyst at Real Capital Analytics in New York.
Read More: http://therealdeal.com/newyork/articles/fitch-downgrades-loan-pool-led-by-stuy-town-westin-ft-lauderdale-and-300-broadhollow-road
Ben Carlos Thypin
I am currently the co-founder of Quantierra, the world's first data driven real estate brokerage and investment manager. In my former life as Director of Market Analysis at Real Capital Analytics, I worked with press outlets large and small to provide them with great data and insightful commentary. Here are some of the results of this collaboration. For the rest, please check out the News Archive.