Category Archives: Real Estate

JMH Development’s Principal, Jason Halpern, Discusses About the Topping off at Aloft South Beach Hotel

Recently, JMH Development announced the topping off at Aloft South Beach Hotel. This means that the real estate development company is entering into the final stages of developing the newest hotel in the famous Miami Beach. The property will be one of the largest in the area. It will have 235 spacious rooms.

Jason Halpern: Real Estate Entrepreneur

According to Aloft South Beach project’s official documents, the property will be developed courtesy of a partnership between JMH Development and the Madden Real Estate Ventures. The new hotel is made up of two primary structures. The first building is the historic Motel Ankara, while the second project is a newly constructed eight-story structure. Motel Ankara will be renovated to give it a modern look. The adaptive reuse of the building will also ensure that it has up-to-date facilities that will seek to augment the clients’ experience.

Jason Halpern: with Production

The other firms involved in the project are Plaza Construction and ADD Inc. These corporations will cater for the construction works and the architectural design respectively. Jason believes that the experience of these enterprises in similar undertakings will facilitate completion of the project within set timelines. Aloft South Beach is the first new hotel to be constructed in the area since 2009. With over 360 square feet of room spaces, the facility has a competitive edge over its rivals. Jason is optimistic that the hotel will become the travelers’ choice in the beach.

Jason Halpern with his Mates

Jason is satisfied with the progress of the project. He notes that if everything goes as per the plan, the property will be opened early next year. The project adds into the long list of historic buildings that have been restored by JMH Properties. The investor is contended with the milestone that the company has achieved.

In addition to spacious rooms and modern facilities, clients of Aloft South Beach will enjoy the beautiful view of the surrounding environment. From the hotel, visitors will have access to Lake Pancoast through the Collins Canal, which is closer to the hotel. Moreover, the shores of Miami Beach are just one block from the property. Miami Beach Convention Center, the Bass Museum of Art, art galleries, and nightclubs are some of the establishments that are within the vicinity of the hotel.

Jason’s Family

Jason Halpern is a successful real estate developer and entrepreneur. Through his company, JMH Development, the businessman has engaged in the development of several real estate projects across the nation. He took over the leadership of the family business in 2010. In the last seven years, Jason has grown the company to become one of the largest real estate investors in the region. In New York alone, the company has over $500 million in real estate investments. The success of JMH Development is anchored on the transformative leadership of Jason Halpern

 

Unpaid CRDA Loan Raise Questions

An unpaid loan worth $20 million dollars is raising questions about the New Brunswick Development Corp. After receiving a loan from the Casino Reinvestment Development Authority for Heldrich, a hotel being built in New Brunswick, the development company has failed to pay the $1 million in interest owed. Failing to issue payments in a timely manner has caused suspicions as to exactly what was done with the money given. The head of the New Brunswick outfit, Chris Paladino, has promised the loan will be paid off, but claims it will take at least 2 more years for the MCIA, which formally owns the hotel, to fully pay back the money it owes. The 235 room Heldrich hotel, which was an intended target of improvements to be made with the loan, has struggled to attract guests. Its occupancy rate is a mere 63% and the hotel is so cash strapped that Johnson & Johnson, which has executives sitting on the New Brunswick Development Corp, DEVCO, had to put $776,000 of its own money in order to keep the hotel afloat. The impact these financial woes may have on the 235 unionized workers and on tourism in the New Brunswick area remains to be fully realized. Read full report on the pressofatlanticcity.com.

Navigating the Tech-Driven Change to the New York Residential Landscape

New, fast paced tech opportunities in NYC real estate are changing the traditional urban landscape. Prices are climbing higher, while new vision brings new development to old neighborhoods, according to Aron Susman’s recent article on Huffington Post. As a result from this rapid expansion of the tech industry in New York, “hot” new neighborhoods undergo rapid changes to meet the needs of newly arriving tech sector employees. Adding to the demand for housing for young affluent workers is the demand for unique and progressive office spaces.

New industries competing for scenic and convenient office spaces drive prices higher and higher, while increasing demand has led to dwindling supply. The tech industry itself now accounts for nearly 20% of leasing activity in 2014. Meanwhile, many companies are no longer satisfied with traditional office spaces comprised of cubicles, and desire customized, avant-garde office spaces. As old industries falter or slow, technology businesses have transformed formerly industrial neighborhoods into new roles, bringing the businesses that cater to the needs of these new demographics as well. Meanwhile, a surge in technology employment has led to a surge in technology employees, bringing new demand for luxurious housing to the area.

Meeting this new demand is TOWN Residential, a fashionable real estate firm specializing in beautiful luxury properties in neighborhoods like Union Square, Chelsea, and West Village. TOWN Residential has properties for rent as well as for sale. This year, TOWN Residential established TOWN Commercial, offering offices and retail spaces. Staffed with a team of some of the best real estate brokers in New York, and considered one of the best places to work in New York City, TOWN is well suited to handle the demands of the tech industry.

Residential properties include beautiful studios and multi-bedroom apartments for sale as well as for lease in desirable neighborhoods. These properties are perfect for busy tech industry workers who need a place to call their own. TOWN Commercial properties include forward-thinking and next generation offices to support tech industry growth, as well as interesting retail spaces meeting a new clientele.