pgsinger

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About pgsinger

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    Charlotte, NC

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  1. pgsinger

    NoDa (N Davidson St Arts District) Projects

    So, while I will be surprised if this project is completed (I would love to be wrong), it does look they have been a part of some decent projects via Cobalt DBS (https://www.cobaltdbs.com/). Chad is the Manager of this entity and Imprint Properties LLC, the new owner of 4000 Raleigh St. They did Coltrane's in PM (formerly John's Country Kitchen). Their historic Dilworth house has some neat features, but it is a random mix of modern and traditional. Just not my style personally.
  2. pgsinger

    NoDa (N Davidson St Arts District) Projects

    Haha...also they state the the minimum net worth of their investors has to be $500k...unless I missed something and the 1934 exchange act was amended and accredited investor must have $1mm as a net worth qualifier. Admittedly there are income and entity type qualifiers, but this very awkwardly written. The minimum investment for their spec home in Plaza-Midwood is $100k...So, one and half investors is all they need to get funding given financing terms. No project listed is completed. My only question is how did they come up with the money to buy this building to begin with? Even with seller financing you are still looking at >$1mm at closing. This is Ghazi 2.0.
  3. pgsinger

    NoDa (N Davidson St Arts District) Projects

    Because it is probably a shell company. Also, I question D&B's ability to pull info on a small subsidiary of another company. Even the details of some large investment grade publicly traded companies on there is wrong (example: VEREIT).
  4. I heard they went with "Nadir."
  5. Update: Spectrum is allowing some tenants to stay in this building through May 31, 2019, so there is no way the building will come down before June. At least some of the leases in the building allow them to commence construction prior to the end of the lease, so they could begin construction on the parking deck prior to then. There has been some implication that Spectrum may be over budget with their project and trying to squeeze any extra funds from existing tenants with a few months more term. Though, I cannot vouch for the accuracy of that last sentence (the first two are 100% accurate).
  6. pgsinger

    Design Center Expansion in South End

    Looks suspicious...
  7. pgsinger

    Charlotte's Light Rail: Lynx Blue Line

    Oh...I guess that makes sense. That's how they accomplished running the trains when the tree fell over the lines in SE a few months back...duh.
  8. pgsinger

    Charlotte's Light Rail: Lynx Blue Line

    Would it make sense (and is it possible) for CATs to add line switches (no idea what the term is) to move the cars from the Southbound line to the Northbound line North of the city, and vis-versa South of the city? Just thinking for major events like the RNC this might be an advantage. Or are there so few times you would want to do this that it is not worth the money?
  9. pgsinger

    Design Center Expansion in South End

    I love Marine Layer! I have been buying there stuff for years. Super soft shirts and hoodies that come in some alternative sizes (Marge = Medium-Large). They are out of the Bay Area (hence the name)...a distant second in culture to Myrtle Beach.
  10. pgsinger

    Dimensional Place (Common Market South End site)

    OFF TOPIC: To quote the great philosopher Ice Man: No you mean notorious. IMO Myrtle Beach is singularly the worst beach in both Carolinas and potentially all of the Atlantic coast. Years of pumping sand up onto the beach and directing all the storm water drains onto the beach has literally created a man made monstrosity. The beaches there are just as man made as this lake in FP. And the food there is nothing short of tertiary for the state of SC (Charleston and Greenville both have better restaurants), and certainly not comparable to CLT. Live oaks are a dime a dozen on the coast. You can get those anywhere from Jacksonville to Jacksonville and they all look the same. I will take Charlotte for being known as a banking center, a beer city (one of a few with this density), a burgeoning tech center, and an up and coming city in general, over putt-putt golf, live oaks, cheap food, and bad beaches. Frankly, I am happy with where things are going and it takes time to build a cultural image - both nationally and locally. Being known for nothing or only slightly known for good things is better than being infamous - . More importantly, can we stop talking about this crap in this thread. There are threads for this conversation...take it there.
  11. pgsinger

    Atherton Mill Redevelopment

    What is a "Transation"? Did they correct that on the new rendering?
  12. pgsinger

    Dimensional Place (Common Market South End site)

    MODERATORS: Please move this conversation to the Charlotte sucks thread in the Nashville forum. Back to DFA - Anyone know when the retail will start opening? Delivery to DFA is Q1, right?
  13. pgsinger

    SouthPark neighborhood Projects

    Then definitely seems like a low price.
  14. pgsinger

    SouthPark neighborhood Projects

    A 5% cap rate should put the NOI around $10,440,000 or an average rent of $24.55 (using 425,250 leased sq feet). A 6% cap rate should put the NOI around $12,528,000 or an average rent of $29.46 (same as above). Here is the OM...no mention of NOI, but it does look like your numbers were pretty close. https://my.hfflp.com/GetDocument.aspx?DT=DealDocument&ID=193084 I agree...seems like a low price for such a prime location. Maybe the tenant make up is not great?
  15. pgsinger

    SouthPark neighborhood Projects

    Does anyone know the cap rate or NOI? Kind of hard to judge the sale without it.