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Painter’s foundation sues after $82M project loan never materialized

first_img DevelopmentManhattan Condo Market Tags Email Address* Full Name* Message* Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink The foundation began converting the 12-story office building on West 35th into residential condos after acquiring the property for $50 million in 2016. Dubbed the Society House, the project consists of 66 residential units and one commercial unit to house the artist’s nonprofit gallery, T.F. Chen Cultural Center.The condos were expected to sell for a total of $91 million, according to the project’s most recent offering plan.In 2017 the developer secured $52 million in financing from Shanghai Commercial Bank. When the foundation went looking for fresh financing early last year it engaged Tribeca Realty Capital, which bills itself as the New York City partner of a $27.5 billion asset management firm that underwrites bridge, mezzanine and equity investments.The foundation alleges it chose Tribeca Realty partner Stephen Drew after he identified the source of its capital as a South Korean company ready to fund loans “anytime.” A second partner at Tribeca, Ted Kim, the lender’s general counsel, also reassured the foundation, according to its lawsuit.The term sheet between Chen and Tribeca filed in court records indicates that the Tribeca expected two of its investment partners to syndicate the $82 million loan. But 45 days later the contract expired without the loan closing and the Chen Foundation began to demand the return of its deposit.Tribeca Realty Capital did not immediately respond to request for comment. In correspondence filed with the court, Drew attributed the delay to the pandemic but also noted that the term sheet gave Tribeca Realty ‘sold and absolute discretion’ for closing the loan and conducting due diligence.“We have acted in good faith all along, and the Covid-19 and the virtual shutdown of New York City contributed to the delay,” wrote Drew in an October email. “Our team is ready and willing to close on this loan as soon as the capital markets reopen in NYC.”The Chen Foundation was also told the process was delayed because of difficulty traveling into the U.S., according to attorney Sylvia Tsai, who is representing the foundation in the suit.“Supposedly the principals were coming in from South Korea,” said Tsai. “[They] were allegedly unable to come to [conduct] due diligence.”In November, Shanghai Commercial Bank refinanced the Chen Foundation’s condo and added $8.58 million to bring the financing package to a total of $60.58 million.Contact Erin Hudson Share via Shortlink 335 West 35th Street and Dr. Tsing-Fang Chen (Rendering via Issac-Stern Architects/CityRealty, Chen via TF Chen)A year ago, as the pandemic brought New York City to a standstill, the Chen Foundation was searching for $82 million to complete its Garment District condominium.The foundation — a family-run developer affiliated with renowned Taiwan-born painter Dr. Tsing-Fang Chen — says it paid $75,000 to have Tribeca Realty Capital do due diligence and secure a loan for its project at 355 West 35th Street.The loan never came to fruition, and now the foundation is suing Tribeca to recover its fee and damages to the tune of $8.7 million.In a complaint filed in New York Supreme Court last week, the Chen Foundation alleges that the firm breached their contract, misrepresented its access to credit and caused the foundation a “sizable monetary loss.”ADVERTISEMENTRead moreChen Foundation plans condo conversion on West 35th StreetChetrit, Bistricer’s Gramercy Square condo lands $207M loanBank OZK still making condo construction loans despite pandemiclast_img read more

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Exeter JCR motion to ban kissing

first_imgAmorous students found themselves under threat at Exeter this week when a motion proposed at a JCR meeting on Sunday recommended that kissing be banned in the JCR.Welfare Officer Beccy Taylor suggested that demonstrations of affection were isolating for singletons and provoked feelings of loneliness. The change was rejected on the basis that it would trivialize the constitution.An Exeter student who attended the meeting commented, “I thought the motion was amusing but I don’t think embittered singletons should take their anger out on us JCR members in happy relationships.”last_img

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Waitrose sees total sales rise 7.7% during Christmas

first_imgWaitrose said sales of its festive bakery goods, including products from its Heston Blumenthal ranges, contributed to its most successful Christmas on record.The supermarket business, which forms part of the John Lewis Partnership, reported a 7.7% rise in total branch sales, excluding petrol, for the period between 4 November and 24 December. Like-for-like sales compared to the same period last year increased by 4.3%, while the number of items purchased rose by 5.9%, which the company said was driven by the extension of its Brand Price Match last May.The firm added that its top sellers during the festive season included a Hidden Sauce Figgy Pudding and a Christmas Chocolate Cake, all of which derive from the Heston from Waitrose range.Mark Price, managing director at Waitrose, said: “The key to our growth this Christmas has been a combination of great value and inspiring, innovative products. This has led to increased volumes driving our sales uplift as more people shopped with us and existing customers bought additional items.“More promotions, Brand Price Match and our essential Waitrose range mean that customers feel confident about our prices. But it wouldn’t be Christmas without fabulous special occasion food like Heston’s new festive products.”He added that customers had been particularly savvy in their shopping patterns, with strong promotions on confectionery and bakery items more than a month before Christmas motivating them to get ahead of the game.The John Lewis Partnership also reported a 14.8% lift in total sales to £684.8m for the five weeks to 29 December 2012, as well as a 25.5% rise in comparison to two years ago.The company also reported record sales of £157.8m in the fourth week of the period (16-22 December), up 26.5% on 2011 and breaking through the £150m barrier for the first time.last_img read more

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Paraguay Takes Down Leader of Narco-Trafficking Group

first_imgBy Dialogo January 09, 2015 Law enforcement officers found the drugs hidden inside eight containers on the ship Pinara, which arrived in Puerto Cortés on December 22. The FTC continues to remain focused on taking down the EPP and ACA. It conducts patrols, inspects vehicles for weapons, and engages in security missions in areas where EPP and ACA operatives are believed to be hiding. He was armed with an AK-47 assault rifle and had more than $10,000 in Paraguayan guaraníes, along with numerous cellphones and memory cards. It’s unclear if any of the five or six other ACA members accompanying Jara Larrea were wounded or killed in the clash. Law enforcement authorities suspect that it e ACA once had about 15 members, but its ranks have dwindled in recent months thanks to law enforcement efforts. For example, security forces killed five ACA operatives during a gun battle in September 2014. The police force arrested 52,830 suspects – an average of nearly 145 people a day, for various offenses, such as robbery, extortion, drug trafficking, assault, and homicide. FTC forces were conducting an operation on the night of January 5 when they engaged in a gun fight with about six ACA operatives that resulted in Jara Larrea’s death. Honduran law enforcement agents make large drug seizure Colombia: Bogotá’s Metropolitan Police broke up 185 criminal gangs in 2014 “The case is being investigated intensively,” Rodríguez told reporters. Law enforcement officers found the drugs hidden inside eight containers on the ship Pinara, which arrived in Puerto Cortés on December 22. The ACA is a splinter group of the terrorist Paraguayan People’s Army (EPP); Jara Larrea and his brother, Alfredo, left the EPP in 2014 to start the organization, which has also engaged in kidnapping for ransom as well as drug trafficking. Honduras is a key transshipment point for South American narcotics. Nearly 90 percent of the cocaine that reaches the United States comes through Mexico and Central America, according to the United Nations International Narcotics Control Board. Honduran National Police seized 645.5 kilograms of cocaine paste hidden in hollow pieces of wood that arrived on a boat from Colombia in late December. Police spokesman Jorge Rodríguez announced the seizure on January 7. The FTC continues to remain focused on taking down the EPP and ACA. It conducts patrols, inspects vehicles for weapons, and engages in security missions in areas where EPP and ACA operatives are believed to be hiding. Honduras is a key transshipment point for South American narcotics. Nearly 90 percent of the cocaine that reaches the United States comes through Mexico and Central America, according to the United Nations International Narcotics Control Board. Colombia: Bogotá’s Metropolitan Police broke up 185 criminal gangs in 2014 The ACA is a splinter group of the terrorist Paraguayan People’s Army (EPP); Jara Larrea and his brother, Alfredo, left the EPP in 2014 to start the organization, which has also engaged in kidnapping for ransom as well as drug trafficking. Agents with Paraguay’s Joint Task Force (FTC) recently brought down Albino Jara Larrea, a founder and leader of a narco-trafficking group known as the Armed Peasant Association (ACA), during a gun battle in a rural area east of the northern city of Concepción. Law enforcement authorities suspect that it e ACA once had about 15 members, but its ranks have dwindled in recent months thanks to law enforcement efforts. For example, security forces killed five ACA operatives during a gun battle in September 2014. Agents with Paraguay’s Joint Task Force (FTC) recently brought down Albino Jara Larrea, a founder and leader of a narco-trafficking group known as the Armed Peasant Association (ACA), during a gun battle in a rural area east of the northern city of Concepción. Consequently, drug traffickers have started to produce cocaine in Honduras. Since 2009, Honduran police have destroyed at least three cocaine laboratories. Hard training. Easy operational capability. The National Police didn’t reveal who owned the cocaine, which was destined for San Pedro Sula, or whether law enforcement officers made any arrests. FTC forces were conducting an operation on the night of January 5 when they engaged in a gun fight with about six ACA operatives that resulted in Jara Larrea’s death. Honduran National Police seized 645.5 kilograms of cocaine paste hidden in hollow pieces of wood that arrived on a boat from Colombia in late December. Police spokesman Jorge Rodríguez announced the seizure on January 7. He was armed with an AK-47 assault rifle and had more than $10,000 in Paraguayan guaraníes, along with numerous cellphones and memory cards. It’s unclear if any of the five or six other ACA members accompanying Jara Larrea were wounded or killed in the clash. “The case is being investigated intensively,” Rodríguez told reporters. The police force arrested 52,830 suspects – an average of nearly 145 people a day, for various offenses, such as robbery, extortion, drug trafficking, assault, and homicide. Honduran law enforcement agents make large drug seizure Metropolitan Police in Bogotá dismantled 185 criminal gangs and seized more than 7.5 tons of narcotics in 2014. The National Police didn’t reveal who owned the cocaine, which was destined for San Pedro Sula, or whether law enforcement officers made any arrests. Metropolitan Police in Bogotá dismantled 185 criminal gangs and seized more than 7.5 tons of narcotics in 2014. Consequently, drug traffickers have started to produce cocaine in Honduras. Since 2009, Honduran police have destroyed at least three cocaine laboratories. last_img read more

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CUNA engaged with House votes, PPP hearings this week

first_imgCUNA will be engaged in House floor votes and several hearings in both chambers of Congress this week.The House is expected to consider two pieces of CUNA-supported legislation on the floor this week. The bills are:Ensuring Diversity in Community Banking Act of 2019 (H.R. 5322), which would, among other things, encourage federal government deposits in Minority Depository Institutions (MDIs), establish a Small Business Administration task force focused on MDIs and Community Development Financial Institutions   and require diversity and inclusion reports from each prudential regulator; andThe COVID-19 Fraud Prevention Act (H.R. 6735), which would establish a working group that would be a collaboration between the Securities and Exchange Commission and Consumer Financial Protection Bureau with the goal of helping to protect scam attempts during the pandemic. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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Kings Park Woman Faces Upgraded Charges in Fatal DWI

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A Kings Park woman has been indicted on upgraded charges that include vehicular homicide for allegedly driving drunk and causing a crash that killed a 59-year-old man in Smithtown two months ago.Natalia Simons pleaded not guilty at Suffolk County court Wednesday to that count and 11 other charges, including vehicular manslaughter, assault, reckless driving, speeding and failure to maintain lane. She was initially charged with driving while intoxicated.Prosecutors said the 36-year-old woman was driving a Nissan Rogue northbound on Route 25A when her vehicle crossed over into the opposite lane of traffic and struck a southbound Toyota Camry shortly after midnight Friday, March 13.The other driver, Larry Garwood, of Island Park, was taken to St. Catherine of Siena Medical Center, where he was pronounced dead. The victim was employed at the hospital as a radiology supervisor.Judge Fernando Comacho set bail for Simons at $50,000.last_img read more

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Flipkart, Amazon Diwali 2020 Special Sales: Best Offers on Mobile Phones This Week

first_imgFlipkart and Amazon are running their Diwali 2020 special sales this week. Flipkart’s Big Diwali sale and Amazon’s Great Indian Festival sale are offering discounts and bundled offers on smartphones across price segments. If you’re looking to upgrade your phone or gift someone a new mobile phone this Diwali season, this week brings another chance to grab one at a lower-than-usual price. We’ve handpicked some of the best deals available on top mobile phones during Flipkart and Amazon Diwali special sales this week. Both the sales are open until November 13.Best mobile phone offers on Flipkart Big Diwali sale 2020Apple iPhone XR (Rs. 38,999)iPhone XR is back at a discounted price during Flipkart’s Big Diwali 2020 sale. The 64GB variant is currently down to Rs. 38,999 (MRP Rs. 47,900) on Flipkart. An exchange offer can fetch you another instant discount of up to Rs. 14,100. Paying with bundled bank offers will sweeten the deal further by 10 percent.- Advertisement – Buy now for: Rs. 38,999 (MRP Rs. 47,900)iPhone SE (Rs. 32,999)If you missed the last Diwali special sale, Apple’s iPhone SE 64GB is again down to Rs. 32,999 (MRP Rs. 39,900) during the Flipkart Big Diwali sale 2020. This is one of the lowest prices we’ve seen on the iPhone SE 2020 since it launched in India. The bundled exchange offer can further sweeten the deal by up to Rs. 14,100.Buy now for: Rs. 32,999 (MRP Rs. 39,900)- Advertisement – Buy now for Rs. 59,999 (MRP Rs. 85,000)iPhone 11 Pro (Rs. 79,999)iPhone 11 Pro is down to Rs. 79,999 (MRP Rs. 1,06,600) during Flipkart’s Big Diwali 2020 sale. This is one of the lowest prices we’ve seen on the iPhone 11 Pro during festive season sales this year. With the bundled exchange offer, you can get an additional instant discount of up to Rs. 14,100.Buy now for: Rs. 79,999 (MRP Rs. 1,06,600))Poco M2 Pro (Rs. 12,999)Poco M2 Pro is available at Rs. 12,999 (MRP Rs. 16,999) during the Big Diwali sale on Flipkart. That’s around Rs. 2,000 lower than its usual selling price online. With the bundled exchange offer, you can knock off another Rs. 12,450 (maximum) from the discounted price. Poco M2 Pro comes with a 6.67-inch full-HD+ display and a 48-megapixel quad rear camera setup. The phone is powered by the Qualcomm Snapdragon 720G chipset, supported by 6GB of RAM.Buy now for: Rs. 12,999 (MRP Rs. 16,999)Moto G9 (Rs. 9,999)Moto G9 is still down to Rs. 9,999 (MRP Rs. 14,999) during the Big Diwali sale on Flipkart. The phone comes with a large 5,000mAh battery and a 48-megapixel triple rear camera setup. Moto G9 is powered by Snapdragon 662, supported by 4GB of RAM. If you’re eyeing a new budget phone with stock Android, the Moto G9 seems like a pretty decent choice at this price.Buy now for: Rs. 9,999 (MRP Rs. 14,999)Best mobile phone offers on Amazon Great Indian Festival saleiPhone 11 (Rs. 50,999)Apple’s iPhone 11 is now selling at Rs. 50,999 (MRP Rs. 64,900) during the Great Indian Festival sale’s ‘Finale Days’ phase on Amazon. The listing assures EarPods and wall charger in the box. In case you missed the earlier deal on the platform, you have another chance to grab the iPhone 11 at a discounted price.Buy now for: Rs. 50,999 (MRP Rs. 64,900)Samsung Galaxy M51 (Rs. 22,499)Samsung’s Galaxy M51 is down to its lowest price ever on Amazon right now. The phone is listed at Rs. 22,499 and SBI credit card users can avail an additional instant discount worth Rs. 3,000, bringing the overall effective price below Rs. 20,000. You can also swap an old mobile phone and receive another discount worth up to Rs. 16,400.Buy now for: Rs. 22,499 (MRP Rs. 28,999)OnePlus 8 (Rs. 39,999)OnePlus 8 (6GB, 128GB) is still selling at Rs. 39,999 (MRP Rs. 41,999) on Amazon during the Great Indian Festival 2020 sale this week. State Bank of India credit card users can avail an additional instant discount worth 10 percent. Amazon is also bundling its exchange offer that can further sweeten the deal by up to Rs. 16,400.Buy now for: Rs. 39,999 (MRP Rs. 41,999)Redmi Note 9 Pro (Rs. 12,999)Redmi Note 9 Pro, the affordable Xiaomi phone, is down to Rs. 12,999 (MRP Rs. 14,999) during the Amazon Great Indian Festival sale. You can exchange an old mobile phone and receive an additional discount of up to Rs. 11,950. Redmi 9 Pro comes with a large 6.67-inch full-HD+ display, and is powered by Qualcomm Snapdragon 720G SoC, supported by 4GB of RAM.Buy now for: Rs. 12,999 (MRP Rs. 14,999)Oppo A52 (Rs. 15,990)Oppo A52 is still down to Rs. 15,990 (MRP Rs. 20,990) on Amazon during the final phase of the Great Indian Festival sale. The bundled exchange offer can further sweeten the deal by up to Rs. 11,950. The phone features a 6.5-inch full-HD+ display with a hole-punch display design. The camera setup includes a 12-megapixel quad rear camera along with a 16-megapixel selfie camera. Oppo A52 comes with Qualcomm’s Snapdragon 665 SoC, supported by 8GB of RAM.Buy now for: Rs. 15,990 (MRP Rs. 20,990)Affiliate links may be automatically generated – see our ethics statement for details. Samsung Galaxy S20+ (Rs. 54,999)Samsung Galaxy S20+ is selling at Rs. 54,999 (MRP Rs. 83,000) during Flipkart’s second round of Diwali special sales. The Walmart-owned company is also running a bundled exchange offer with up to Rs. 14,600 in additional discount. The price is slightly higher than what Flipkart was offering during its previous festive season sales.Buy now for: Rs. 54,999 (MRP Rs. 83,000)Samsung Galaxy Note 10+ (Rs. 59,999) Samsung Galaxy Note 10+ is still selling at a discounted price on Flipkart. You can grab one for as low as Rs. 59,999 during the Big Diwali sale 2020 on Flipkart this week. You can also avail a no-cost EMI option and the bundled exchange offer to further lower the effective price. Galaxy Note 10+ comes with a massive 6.8-inch Super AMOLED display, and a quad rear camera setup.- Advertisement – – Advertisement –last_img read more

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Mensaje del Gobernador Wolf y del Vicegobernador Fetterman a la Legislatura: Ahora es el momento de asumir la legalización del uso de cannabis en adultos

first_img SHARE Email Facebook Twitter Economy,  Español,  Press Release En el día de la fecha y centrándose en los beneficios de la justicia restaurativa y la generación de ingresos, el Gobernador Tom Wolf y el Vicegobernador John Fetterman nuevamente instaron a la legislatura a emprender la legalización del uso de cannabis en adultos.“Insto a la legislatura a que ahora se sume en la construcción de una base para fortalecer la economía de Pennsylvania mediante la legalización del uso de cannabis en adultos”, dijo el Gobernador Wolf. “Estos son ingresos que pueden ayudar a los residentes de Pennsylvania afectados negativamente por el sistema de justicia penal a acceder a programas de justicia restaurativa, pueden destinarse a ayudar a nuestras pequeñas empresas históricamente desfavorecidas a superar la crisis económica causada por la COVID-19, y le dará a nuestra economía el impulso necesario”.La pandemia de COVID-19 ha provocado enormes alternaciones en la economía de Pennsylvania, y con la ayuda federal adicional estancada en el Congreso, Wolf dijo que si ahora se legaliza el uso de cannabis en adultos, contribuirá en gran medida a la recuperación de la economía del estado en el futuro.Algunos estados que han legalizado el cannabis para su uso en adultos han recibido cientos de millones de dólares en ingresos adicionales.Wolf y Fetterman destacaron que si bien llevará tiempo desarrollar un sistema que aporte ese nivel de ingresos en Pennsylvania, hay cosas que la legislatura puede y debe hacer ahora para garantizar que el estado y sus residentes puedan beneficiarse de esos ingresos tan pronto como sea posible.Durante mucho tiempo, el Vicegobernador Fetterman ha liderado los esfuerzos por despenalizar la posesión de pequeñas cantidades de cannabis, algo que puede ahorrar dinero y cambiar el rumbo de las vidas de las personas previamente condenadas por estos delitos menores.“En 2019, se arrestaron casi 22,000 personas en Pennsylvania por tener una pequeña cantidad de marihuana”, dijo el Vicegobernador Fetterman. “Podemos ocupar mejor el tiempo y los recursos que gastamos enjuiciando a estos residentes de Pennsylvania por hacer algo que la mayoría de nosotros creemos que ni siquiera debería ser ilegal”.Jeff Riedy, Director Ejecutivo de Lehigh Valley NORML (Organización Nacional para la Reforma de las Leyes de la Marihuana), se unió al Gobernador Wolf y al Vicegobernador Fetterman. La organización NORML organizó hoy el evento de concienciación “Plantemos una semilla para la libertad: dejemos que nuestra gente cultive” en los escalones del Capitolio.“Damos la bienvenida a la inclusión de la legalización del cannabis en la agenda legislativa del Gobernador Wolf, que redobla su compromiso de apoyar la legalización en todo el estado”, dijo Jeff Riedy. “Los capítulos de NORML en todo el estado apoyaron el proyecto Wolf/Fetterman en 2018. Con dos robustos proyectos de ley de legalización ya redactados, los legisladores podrían actuar mañana”.El mensaje claro del día fue la urgencia y la manera en que actuar ahora para despenalizar la posesión de pequeñas cantidades de cannabis puede tener beneficios inmediatos para los más afectados por la penalización ya que la legalización ahora puede tener beneficios a largo plazo para el estado y todos sus residentes.“La despenalización y legalización del uso de cannabis en adultos es lo que quiere la gente de Pennsylvania”, dijo el Gobernador Wolf. “Insto a la Asamblea General a que los escuche”.View this information in English. September 16, 2020center_img Mensaje del Gobernador Wolf y del Vicegobernador Fetterman a la Legislatura: Ahora es el momento de asumir la legalización del uso de cannabis en adultoslast_img read more

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Workers cottage transformed in to statement home

first_imgThe floating staircase makes a statementThe interiors have been inspired by the Hamptons, French Provincial and Plantation styles, and the house will feature in Home Beautiful magazine in December.It is is easy to see why. The house before the renovation Snoopy doesn’t mind the oustide entertaining area either.Just some of the features include exterior wooden fretwork that is dotted with tiny handcrafted trees inspired by a boutique hotel in Byron Bay which adds a resort-like feel.There is French Oak Wildwood aged timber parquetry flooring laid in a basket weave pattern that leads to a floating staircase.All up, the impressive renovation took about a year. The ultra chic house in Paddington is listed with Ray White New Farm agent, Christine Rudolph, and will be auctioned on-site on November 3. A bathroom before the renovation …More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours ago The kitchen during the demolition … And then after the transformation.Ms Winter owns Chasing Winter, an interior styling business, and runs shopping tours to Bali for people to source their own furnishings. This is one of a number of renovations the couple have done since moving to Brisbane from New Zealand. It is not a humble little cottage anymore.FASHION and interior stylist Natalie Winter is selling her Paddington property, which has been transformed from a workers cottage in to a stunning statement home.Ms Winter and her husband Gerry Heffernan, bought 45 Hayward St in 2013 and have since tripled its size. And the house today — mind blown!“When we started it was 100sq m under roof and nothing much to look at but we fell in love with the house for its good bones and we have 40 linear metres of street frontage which is amazing,” she said. And after the renovation.Ms Winter said it was a bold move to turn the cottage into a five bedroom, four bathroom, grand house on that block.last_img read more

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Hope Island joins Gold Coast million-dollar club

first_imgThe island suburb is known for its boating lifestyle.“We’re getting lots of interstate buyers seeing value in the lifestyle that the (Sanctuary Cove) resort offers,” he said.“There’s been steady price growth and plenty of record sales.”Mr Gates said it was difficult to find a house for less than $1.5 million but there were opportunities to buy apartments or townhouses for much less.Amir Mian Prestige Property Agents’s Charlon Delos Angeles said the area was getting more attention than ever, which had contributed to the price increase.“I think it’s because Hope Island and Sanctuary Cove are starting to get a bit more exposure,” he said.“As soon as people know about the place they think, ‘this is a nice area’.”More from news02:37International architect Desmond Brooks selling luxury beach villa10 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:29Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:29 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWays to get into the property market for less00:29 MORE NEWS: Buyer takes big risk to secure designer’s home Source: CoreLogic data to May Hope Island’s median house price has reached $1 million following strong price growth over the past few years.A NORTHERN suburb that has been lingering on the outskirts of the Gold Coast’s million-dollar club for months has finally made it in.Hope Island is the latest area to make it into the elite group, CoreLogic data to May shows.It joins Mermaid Beach, Surfers Paradise, Tallebudgera Valley, Broadbeach Waters, Clear Island Waters and Bundall, making it the only northern suburb in the group.Hope Island, which includes the exclusive enclave of Sanctuary Cove, has only just earned entry after its median house price jumped 12.4 per cent in the past year to $1 million.But Ray White prestige agent Matt Gates, who specialises in Sanctuary Cove properties, said it was likely to continue climbing as house hunters were attracted to the area’s lifestyle. MORE NEWS: Where to buy in the regions 1. Mermaid Beach – $1.4 million 2. Surfers Paradise – $1.23 million3. Tallebudgera Valley – $1.17 million4. Broadbeach Waters – $1.14 million5. Clear Island Waters – $1.13 million6. Bundall – $1,062,5007. Hope Island – $1 million While the suburb and its prestige enclave were known for their extravagant waterfront and golf course mega-mansions, Mr Delos Angeles said it wasn’t just an area for cashed-up buyers.“There are some really nice communities that aren’t gated and there’s a lot of property (types) for everyone,” he said.“There’s still a lot of opportunities for people to enter into that type of market by buying something that’s a renovator.”Alex Phillis Luxury Real Estate director Alex Phillis said recent infrastructure upgrades had also breathed new life into the area and complemented the resort-inspired lifestyle everyone loved.“One minute you could be golfing then you could be out on the boat,” he said. MILLION-DOLLAR CLUB (suburb, median house price)last_img read more