The Real Deal New York

The Wrap: A peek inside Puck penthouse No. 2, Empire Outlets and New York Wheel to break ground next month … and more

February 03, 2015 06:00PM

Puck Penthouse at 295 Lafayette Street in Nolita

Puck building’s penthouse No. 2 at 295 Lafayette Street in Nolita

1. A peek inside Puck penthouse No. 2 [Curbed]
2. Empire Outlets and New York Wheel to break ground in March [DNAinfo]
3. Ranking broker babble buzzwords [BrickUnderground]
4. RadioShack bankruptcy is on the horizon [Washington Post]
5. Lawsuit against Prospect Park nursing home owner delayed in wake of deaths [Brooklyn Eagle]
6. A look at 19-story 153 Remsen Street in Brooklyn Heights [NY YIMBY]

Tess Hofmann

  • Kuk Ousi

    Ministry of Economy and Finance announced Shrinking tax collection on constructions and real estates in 2015

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    2015 is the year that Ministry of Economy and Finance pay more attention on tax collection on all sectors, especially constructions and real estate sector. In achievement ceremony of tax collection last week, H.E Oun Poin Monyroth, Minister of Ministry of Economy and Finance pushed the tax department to collect taxes on real estates and vacant lands.

    H.E Oun Poin Monyroth said that nowadays, taking revenue from taxes still have more potentialities, especially direct tax collections such as real estate and construction tax, income taxes, income taxes, and withholding taxes.

    According to Ministry of Economy and Finance report, nowadays, Cambodia almost depends on indirect tax collection that has 78 per cent while the revenue from direct tax collection has only 21 per cent. According to Financial Management plan in 2015 of Ministry of Economy and Finance has set tax department to increase tax collection this year 17 per cent more than 2014.

    Concerning this problem, Mr. Kang Chandararoth, Director of Research and Develop Cambodia Economic Institute claimed that, in general, he notices that the mechanism in tax collections of Department of Customs and Taxes always exceed the plan and this trend is proceeding to transparency in revenue management. He also added that if the set plan of tax collection is too low, then it is the important part that causes no transparency in revenue management. real estate in cambodia

  • Kuk Ousi

    Demands in Rent warehouses and factories increased by 10 to 20%

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    The national and international real estate specialists has said that the demand in warehouse and factory from January to December, 2014 increased from 10 to 20% compared to 2013.

    Mr. Vorn Chanthorn, CEO of Town City Real Estate Company said that the increasing of warehouse and factory rent is the momentum of the foreign investor flow in industrial sector as well as agriculture and construction continue increasingly come to invest in Cambodia.

    Mr. Sorn Seap, CEO of Key Real Estate, claimed that the increasing in warehouses and factories constructions which both local and foreign investors are interested in are mostly in important economic gates such as National road 1, National Road 2, National Road 3, and National Road 4, which many warehouse and factories are continuously appeared.

    CEO of Khmer Real Estate told that warehouse and factory markets still have high demand the same as the office renting B and C, and the developer of warehouse and factory is also easy to find the costumer, too.

    Increasing in warehouse and factory rent is the good sign that indicate the Cambodia economic growth, which has many foreign investors, especially Chinese, Korean, and Japanese are doing business in industrial factory sector in Cambodia after Thailand and Vietnam.

    Mr. BU AVKong, General Manager of Asia Real Estate, said that the demand location for factory mostly the foreigners and warehouse is the local investors.

    Just get your attention that the price for renting warehouse or factory in Phnom Penh, which has the size area from 200 to 1000 sqm has about 1000 places and rent in 3 to 5 dollars per sqm.

    Warehouse size is start from 1000 to 3000 sqm has about 700 places and rent in 2 to 3 dollars per sqm and warehouse and factory that has size from 3000 to 5000 sqm has about 500 places rent in the price of 1 to 2 dollars per square meters. real estate in cambodia

  • Kuk Ousi

    MR. SOK BUN WAS ELECTED TO BE DIRECTOR OF CVEA

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    Mr. Sok Bun, Director of TEHO Development, was elected to be the director of CVEA (President of Cambodian Valuers and Estate Agents Association) for the 4th mandate (2015-2017).

    In the 3rd National Assembly of CVEA, which was held at Cambodiana in the evening of January 30th, Mr. Sok Bun claimed that he was very glad and proud that was elected by CVEA’s members to be the director of CVEA in this 4th mandate. He promised to try to persuade other real estate companies to register to be CVEA’s members. He also has plan to create more training courses for CVEA’s members. “I have good relationship with many real estate companies oversea so I hope I can persuade those companies to come and do investment in our country”, he added.

    Nowadays, CVEA has 41 companies as members. CVEA was found in August 08th, 2008. The association’s mission is to raise you confidence, the members and the public by providing experience skill and professionalism related to real estate. real estate in cambodia

  • Real Estate

    House Fire of Residents in Sankat Chroychanva Had Put Off and One Boy Was Injured

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    Phnom Penh: Residential house fire in village 3, Sankat Chroychanva at 10:40 in the morning of this Tuesday was put off at 11:10 noon, but a housing with 5×6 meter size made from wood for up stair and down stair with brick and cement, was completely destroyed and also injured a boy named Ra Yu, 3 years old.

    According to authority the fire caused from electrical faulty wiring, bewrewrtut this fire didn’t interfered to the neighborhood housing. Real estate in Cambodia

  • Real Estate

    Real Estate Price at Takmao Continuously Increases

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    The favorable geographic location near Phnom Penh has increased the land price in Takmao up to 20 per cent in the early 2015 comparing to the past early 2014.
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    Nowadays, Land prices in the central trading area of Takmao range from US$1000-US$2000 per square meter while during the same time in 2015, the price was from US$1000-US$1500. Land in ordinary trading area may cost US$800 to US$1000 per square meter and housing area may cost from US$ 100 to US$200 while a flat in Takmao cost US$10,000.

    There are four factors that push the sales and buying transaction, and real estate price in Takmao increase. First, Prek Somrong Bridge, connected Takmao to Natonal Road 1. Second, the heard of dry port construction project in Takmao. Thirdly, large Boreys’ projects are running and the fourth is the plan to inaugurate the Somdach Techo Boulevard for use, which has 60 meters width connected Phnom Penh to Prek Ho of Takmao.

    Takmao has 6 Sankats and 38 groups with 14000 families and 70000 residential population. Real estate in Cambodia

  • Real Estate

    Chinese Company Plans to Invest 100 Million Dollars on Flyover Construction

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    A Chinese Company will invest 100 million dollars for the construction of a long distance flyover (BOT) from International Airport to the center of Phnom Penh.

    Mr. Long Dimang, spokesman of the City Hall, told that Mr Liu Yong, CEO of Henan Provincial Communication planning, Survey & Design Institute Co, Ltd that is located in China, recently presented to board of director of the City Hall about a sky bridge (Express Way) construction investment project that is depart from Phnom Penh International Airport to the center of Phnom Penh. “Now the City Hall have not yet made any decision and just lets the company study about the detail of the project”, he claimed.
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    Mr. Liu Yong, CEO of Henan Provincial Communications planning, Survey & Design Institute Co, Ltd, told the Deputy Governor, Mr. Eang Ounny and Mr. Trak Thaiseang, in the recent meeting that the above flyover project has two options which are first line depart from Phnom Penh International Airport and along the railway to royal stupa, and the second line depart form Phnom Penh International Airport by passing Taing Kro Sain Pagoda across the Monrithy Road and straight along Toul Kok dam toward Chroy Chanva bridge.

    He added that the first option has 14 kilometers long and the second option has 16 kilometers long, which is planned to spend construction cost up to 100 million dollar without including the exposure cost. Real estate in Cambodia

  • Bihi Yok

    Finance Encounter Small Development Companies in Trouble

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    Developer in small provinces of Thailand is trying take fund from banks to be capital investment for using in housing construction while large projects caused their challenges in hardship.

    Mr. Vipon Borasowharid, Bank Executive Vice President of Siam Commercial, claimed that there are more challenges in housing construction development projects in provincial markets of Thailand while the economic is being in trouble and after the invading of big developers, so it is not really easy for the small developers and companies.

    Big development companies always show their strong muscles by their strong financial system, good reputation, and large amount of customers.

    He also added that the company cannot provide loan to small developer in provinces if the revenue of their project is low and even the value of the collateral is enough to pay for debt. The revenue of the project and the ability to pay for the debt is more important than collaterals. Real Estate in Cambodia

  • Bihi Yok

    HSL Group Plan to Construct the Highest Building in Myanmar

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    HSL Group Company announced about a huge construction project located in Tarmwe city, which includes the construction of the highest building in Myanmar.
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    First phase of Polo Club Asia project is the construction of a building with 34 floors height equal to the building of Diamond Inya Palace project which is underconstruction. The highest building in Myanmar now is Centrepoint Towers with 25 floors.

    Ms. Wah Wah Hlaing, Chief of project of the Polo Club Asia, said that second phase of Polo Club Asia project will be the construction of office building and apartment not for rent while the third phase is the construction of five stars hotel.

    The entire Polo Club project will spend 6 years to develop by including 2 accommodation buildings will be launched in June 2018. This 2 buildings has 373 units with super market at the ground floor. The last part that need to be completed is hotel. Real Estate in Cambodia

  • sa chendok

    Residents ready to move in to Galaxy Residence

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    Luxury condo project Galaxy Residence on Chroy Changvar peninsular will open its doors next month, allowing buyers to move in ahead of the official inauguration in early 2015.

    The managing director of Development Company National 6A Investment, Kam Chin Seng, said construction of the 12-floor condo on National Road 6 in Chroy Changvar was almost complete and that it would open in October.

    Ninety per cent of the project – which consists of 40 units starting from $88,000 each, nine shophouses and four penthouses – has been sold. Buyers include locals and foreigners from around the globe, including Malaysia, China, Hong Kong, Singapore, Japan, South Korea and Europe.ddd
    Kam Chin Seng previously said that the development was being financed by Chinese investors. Real estate in Cambodia

  • sa chendok

    Riviera’s Mall Construction Resumes
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    Construction has resumed on a huge mall being built as part of the Riviera project on Diamond Island following a six-month hiatus.

    Project manager Chen Hok said construction of the mall, which has two nine- and seven-level towers, should be complete in October.

    The $700 million joint-venture project between the Overseas Cambodia Investment Corporation, Friendship International Development and Jinxiang Investment from China. Real estate in Cambodia

  • sa chendok

    THE DEVELOPMENT OF CHROYCHANVA’S SATALLITE CITY IS GOING SMOOTLY

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    The development of satellite city at Chroychanva of OCIC, which is located along national road 6, is now going smoothly while the dealing with land depute with residents is nearly finished.
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    Mr. Pong KheavSe, CEO of OCIC, claimed at the meeting with people live in Borey Rong Rerng that the development of satellite city at Chroychanva is now going smoothly, and the company tries to deal with the residents who affect from the about development project by constructing a suitable places for them to live.

    Chroychanva’s satellite city or City of the future is covered with 387 hectares area in three Sankat of Chroychava District includes Sankat Chroychanva, Sankat Prek leap, Sakat Prek Tasek. This project cost around 1600 million dollars and plan to finish the construction in 2026.

    Real estate in Cambodia

  • sa lada

    Flat in Toul Tompong

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    Flat for sale in Toul Tom PongI, This location is suitable for residence , start up office , Organization ,good for family member style is different from other flat that near and inside this flat is beautiful room with big space attached with bathroom, face to south.

    Title Deed : Soft Title

    Note : In this price can negotiable.

    Address : Sangkat Toul Tompong I, Khan Chamkar Morn, Phnom Penh.

    We are willing to provide the best service to my customer a hundred percent of the time.

    Real Estate in Cambodia

  • sa lada

    Flat in Khan Chbar Am Pov

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    This flat is located in Borey Peng Hout (The Star Platinum). It’s a new design style house with nice environment and good security.

    Title Deed : Soft Title

    Note : In this price can negotiate.

    Address : Sangkat Ni Routh, Khan Chbar Am Pov, Phnom Penh.

    We are willing to provide the best service to my customer a hundred percent of the time.

    Real Estate in Cambodia

  • sa lada

    Villa

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    Villa is located near Tang Korsang Market. 7minutes from Park Café on Confederation de la Russie opposite International Phnom Penh Air Port.

    Total Area : 878.00 sqm

    Building size : 18mX24m (432sqm)

    Floor : 1 floor

    E0 : 1 bedroom, 4 bathrooms, 1 Kitchen

    E1 : 5 bedrooms, 5 bathrooms

    Extra : 1 indoor fish pool,

    1 outdoor fish pool

    Asking Price : Start from $900,000

    Interior : Full Furnished

    Title : Hard

    Tenant : With tenant $2,500/mth

    A/C : 8 Air conditioners

    Real Estate in Cambodia

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