construction Archives

FL Star begins construction of Egret design at Sapphire Cove

October 10, 2020 [email protected]_84 begins, construction, Cove, Design, Egret, Sapphire, Star

Tani Hurley Public Relations, Special to Naples Daily News
Published 6:01 a.m. ET Oct. 10, 2020

Construction is underway on a new move-in ready home, the Egret design, at Sapphire Cove, an intimate residential community being developed by FL Star off Collier Boulevard in South Naples.

The Egret is a three-bedroom plus study, two-bath design with 2,230 square feet of air-conditioned living space. With spacious outdoor living area, covered entry and two-car garage, the home encompasses 3,198 square feet.

“This is a very functional contemporary design,” said Jim Borden, sales professional with FL Star. “It combines the liveability of a split floor plan with elegant comfort in the details.”

Part of the appeal of the Egret design is the large master suite which shares one wing

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FOR SALE

One Seaport Construction Loan For Sale

October 3, 2020 [email protected]_84 construction, Loan, Sale, Seaport

161 Maiden Lane and Fortis CEO Jonathan Landau (Google Maps; Fortis)

A $120 million non-performing construction loan tied to Fortis’ One Seaport condo in the Financial District is up for sale.

Newmark Knight Frank is marketing the construction loan originated by Bank Leumi USA. Investors can purchase the loan, which is “secured by the fee simple interest” of the 98-unit condominium building at 161 Maiden Lane, according to marketing materials.

About $90 million of the $120 million of the construction loan has been funded, according to the brochure.

The sale is another sign of trouble at the 60-story building, which has been under construction since 2016. It’s been at the center of litigation between the developer Fortis and its contractor Pizzarotti over a “slight misalignment” that resulted in the tower leaning three inches to the north.

In 2017, a construction worker died after falling from the 29th floor of the

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HOME FOR SALE

New home sales surge to highest level since before the Great Recession, as buyers are pushed into the new construction market

September 24, 2020 [email protected]_84 Buyers, construction, Great, highest, Home, level, market, pushed, Recession, Sales, surge

The numbers: Sales of new single-family homes in August exceeded an annual rate of 1 million for the first time since 2006, as buyers were forced into the market for newly-constructed properties thanks to the dearth of home listings.

New home sales occurred at a seasonally-adjusted, annual rate of 1.011 million, the Census Bureau reported Thursday. That represents a 4.8% increase from an upwardly-revised pace of 965,000 homes in July. Compared with last year, new home sales are up 43%.

Economists polled by MarketWatch had expected home sales to drop to median pace of 900,000.

What happened: Not all parts of the country saw an uptick in sales despite the historically high rate nationally. New home sales fell 21.4% in the Midwest and 1.7% in the West. Comparatively, the South saw the biggest increase in sales with a 13.4% jump, while sales volumes rose by 5% in the Northeast.

The

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