Loading...
The Real Deal - New York Real Estate News |
Toledano wants $160M for East Village portfolio Posted: 01 Dec 2016 03:18 PM PST Raphael Toledano is looking to unload 13 of his buildings in the East Village, sources told The Real Deal. Rosewood Realty Group’s Aaron Jungreis, Toledano’s uncle, has been shopping the properties, which comprise a combined 206 apartments and 12 retail spaces. Toledano wants $160 million for the portfolio, a number sources said was ambitious. Jungreis declined to comment on a potential sale and Toledano could not immediately be reached for comment. Toledano’s Brookhill Properties acquired … [more] |
In major shift, Airbnb agrees to enforce legal listing limits Posted: 01 Dec 2016 03:05 PM PST Airbnb, for the first time, agreed to enforce limits on how many nights its users can rent out rooms. The short-term home rental company said it will block users from renting out rooms for more than 90 days in London and 60 days in Amsterdam – the legal limits in the two cities – rather than merely relying on the cities to enforce their rules. Although the new policy doesn’t apply to New York, it … [more] |
Excel Development set to demolish four Kips Bay buildings Posted: 01 Dec 2016 02:45 PM PST Excel Development Group is moving ahead with plans to demolish four walk-ups in Kips Bay, though it’s not yet clear what will be going in their place. Michael Heletz, the head of Forest Hills based Excel, filed plans with the city earlier this week to demolish 339, 341 and 343 East 33rd Street, DNAinfo reported. A fourth building at 345 East 33rd Street, which records show to be owned by an LLC, was also included … [more] |
WATCH: Renderings revealed for W’burg waterfont park Posted: 01 Dec 2016 02:00 PM PST Back in 2005, former Mayor Michael Bloomberg promised to build a public park as part of a deal to rezone the north Brooklyn waterfront to build luxury towers. Last week, the city has announced that it will finally buy the last 11 acres needed to develop the borough’s long-delayed Bushwick Inlet Park. To see the full story and a full selection of the renderings, watch the video here. |
Editor’s note: Our builder-in-chief Posted: 01 Dec 2016 01:25 PM PST From the December issue: Has capitalism finally eaten democracy? It might seem that way with the ascension of the first billionaire NYC real estate mogul to the office of the President of the United States. Just a month ago, many were speculating about how big Hillary Clinton’s victory would be. Today, however, there’s a new world order, and Donald Trump has continued to suck up every single inch of newsprint, every computer-screen pixel and every molecule … [more] |
Rabsky buys Jehovah’s Witnesses building for $65M Posted: 01 Dec 2016 01:00 PM PST Simon Dushinsky’s Rabsky Group is the mystery buyer behind the Jehovah’s Witnesses’ latest Dumbo deal, paying $65 million for a building near Dumbo Heights. As part of their plans to relocate upstate to Warwick, N.Y., the Witnesses sold a four-story recreational center at 69 Adams Street to an unnamed buyer, the Brooklyn Eagle reported last month. Property records filed with the city Thursday reveled the buyer to be Dushinsky, who shelled out $65 million to buy … [more] |
Brooklyn Law School sells DoBro site to developers for $76.5M Posted: 01 Dec 2016 12:49 PM PST A trio of investors led by Avery Hall Investments bought a development site from Brooklyn Law School for $76.5 million at One Boerum Place, where they plan to develop a 160,000-square-foot mixed-use building. The deal comes at a time when investors and lenders are weary about getting into new development projects, especially in place like Downtown Brooklyn where a huge supply of new rental product is coming online. Midtown South-based Avery Hall, which focuses on … [more] |
Posted: 01 Dec 2016 12:13 PM PST What will come of a developer in the White House? Donald Trump’s policies, plans and agendas are still largely a mystery. Speculation on how a real estate mogul as commander-in-chief will impact New York City is mounting. In The Real Deal’s December issue, we examine the perfect storm of possible conflicts surrounding the president-elect, by taking a sweeping look at Trump’s worldwide business ties and involvements. In “The Trump Whisperer,” we take a closer look … [more] |
Trump’s policies will worsen next recession, top Moody’s economist says Posted: 01 Dec 2016 11:30 AM PST Donald Trump’s economic plans may worsen the next downturn, according to Moody’s Analytics chief economist Mark Zandi. “I think the economy is going to be more cyclical as a result” of Trump’s election, Zandi, a Democrat, said Thursday at a Urban Land Institute New York event. Like several other commentators, Zandi expects that Trump’s plans to cut taxes and boost government spending this late in the economic cycle will drive up prices and in turn … [more] |
A&E to buy five-building Brooklyn portfolio for $89M Posted: 01 Dec 2016 11:00 AM PST A&E Real Estate Holdings is in contract to pick up a five-building Brooklyn multifamily portfolio for $89 million, or $366 per square foot, sources told The Real Deal. The buildings, which collectively span about 243,000 square feet, are scattered around Prospect Park – in neighborhoods such as Kensington, Prospect Lefferts Gardens and Prospect Park South. It contains 265 apartments, most of which are rent-stabilized. A&E entered contract on the package last month and is expected … [more] |
Manhattan apartment sellers still think they’ll make a 40% return in 5 years Posted: 01 Dec 2016 10:41 AM PST Despite all evidence pointing to a cooling property market in Manhattan, reality hasn’t quite sunk in for some sellers in the borough. Many still expect to make at least a 40 percent return on apartments they bought just over five years ago. Through September of this year, sellers of homes listed for less than $3 million sought a median price 47 percent higher than what they paid in 2010, Bloomberg reported. Based on data from … [more] |
Blackstone’s single-family rental division files for IPO Posted: 01 Dec 2016 09:55 AM PST Blackstone Group’s single-family home rental business Invitation Homes quietly filed to go public. In January, the firm plans to sell $1.5 billion in shares in an IPO that could value it at $7.5 billion. The private equity giant plans to use the money to pay down debt, sources told the Wall Street Journal. Blackstone had previously indicated an Invitation Homes IPO was coming, but didn’t specify timing. Blackstone has invested $10 billion in buying up … [more] |
Coldplay guitarist nabs second Astor Place condo Posted: 01 Dec 2016 09:25 AM PST From Luxury Listings NYC: Coldplay’s lead guitarist Jonny Buckland is doubling down in Greenwich Village; the musician just bought a second apartment at 21 Astor Place for $5.1 million. [more] … [more] |
Muss seeks $63M sellout for Sheepshead Bay condos Posted: 01 Dec 2016 08:35 AM PST Muss Development is moving forward with plans to include 56 condominium units in its Sheepshead Bay residential project. The company just filed an official condo offering plan for 1501 Voorhies Avenue, a 28-story project being co-developed by AvalonBay Communities, documents filed with the state Attorney General’s Office show. Muss and AvalonBay filed a “test-the-market” application for the project in October to gauge buyer interest in creating 56 of the building’s 232 units condos. The condo … [more] |
Susan Lucci’s Southampton estate under contract for $20M Posted: 01 Dec 2016 08:12 AM PST The streak is over. Susan Lucci has found a buyer for her Southampton estate “Four Winds,” with the property going under contract for just under $20 million. The “All My Children” actress, who won an Emmy in 1999 after being snubbed 18 times, listed the property back in 2014 for $19.9 million. An unknown buyer has now signed a contract to buy the property for just under $20 million, the New York Post reported. The … [more] |
BK brownstone thief sentenced to 15 years in prison Posted: 01 Dec 2016 07:36 AM PST A man who forged a judge’s signature to falsely claim ownership over a Bedford-Stuyvesant brownstone may serve up to 15 years in prison following his conviction. The Brooklyn District Attorney’s office said Joseph McCray filed a fraudulent court order with the City Register in 2015, in which he claimed to be the owner of 119 MacDonough Street, DNAinfo reported. The 54-year-old had forged the signature of a Brooklyn Civil Supreme Court Justice, Yvonne Lewis. In … [more] |
Kushner-owned company ruined woman’s Thanksgiving: suit Posted: 01 Dec 2016 07:09 AM PST An East Village woman is suing Jared Kushner for, among other things, allegedly spoiling her Thanksgiving. Uta Winker, a rent-stabilized tenant in Kushner’s 331 East 9th Street, claims that Kushner didn’t properly reimburse her for massive damage to her apartment just before Thanksgiving in 2013, DNAinfo reported. Water from a ruptured pipe flooded her kitchen three days before the holiday, causing her to cancel her Thanksgiving plans and stay in a hotel with her guests, … [more] |
Developers plan Flushing’s first movie theater in 30 years Posted: 01 Dec 2016 06:21 AM PST Developers F&T Group and SCG America plan to build the first new movie theater that Flushing, Queens has seen in 30 years. The movie theater will be part of the Tangram development, a mixed-use project at 133-15 39th Avenue, Commercial Observer reported. The project includes four 15- or 16-story buildings with 300 luxury condo units, 80,000 square feet of office space and a hotel. Details on the hotel are not yet available. The 34,000-square-foot theater will be located in a … [more] |
Pop-ups serving as band-aids for retail landlords Posted: 01 Dec 2016 05:45 AM PST When 87 Christopher Street hit the market in August, the owners hoped to snag a long-term retail tenant. But after months rolled by and the space stayed vacant, the owners moved to plan B: pop-ups and short-term tenants. “It’s an opportunity for the landlord to capture some short-term cash,” said Jason Fein, a partner at ABS Partners Real Estate who represents the ownership. And while they continue to look for a long-term tenant, “things always … [more] |
421a revival could be on the agenda if state legislature calls special session Posted: 01 Dec 2016 05:19 AM PST The New York State Legislature seems closer to calling a special session before the end of the year, potentially bringing a revised 421a to the table. Gov. Andrew Cuomo is considering trading pay increases to legislators for certain ethic reforms, including a constitutional amendment that would create term limits and a full-time legislature, the New York Daily News reported. The pay increase issue would be one of many discussed if the legislature calls a special session, including … [more] |
Scorecard: Manhattan single-family home sales mirror softening luxury market Posted: 01 Dec 2016 04:30 AM PST From the November issue: The total dollar volume of sales for one- and two- family Manhattan homes — primarily pricey townhouses — was down 23.6 percent for the first nine months of this year compared to the same time in 2015. A TRD analysis of NYC Department of Finance sales data found that both the total number of transactions and the median sales price for this category also dropped. “A lot of product that has sat … [more] |
Bustle inks deal for 34K sf at 315 PAS Posted: 01 Dec 2016 04:00 AM PST Bustle is trading its current digs for twice as much space in Midtown South. The online women’s magazine inked a lease for 34,100 square feet of office space at Columbia Property Trust’s 315 Park Avenue South, Crain’s reported. Bustle plans to take two of the nine floors — the 11th and 12th floors — that Credit Suisse is vacating when its lease expires in April 2017. Bustle would vacate its space at 158 West 27th … [more] |
Most popular stories on The Real Deal Posted: 01 Dec 2016 03:30 AM PST Current reader favorites: 1. VTS, Hightower merge in landmark CRE tech deal 2. “We don’t have a president, we have a king”: Joe Sitt 3. Kushner plans to lend $200M annually to developers 4. Big Chinese investors rethink some US real estate bets 5. Stellar, Imperium near deal for 220 Fifth Ave. leasehold … [more] |
Gamma prevails in lawsuit brought by embattled Bauhouse Group Posted: 30 Nov 2016 06:42 PM PST Gamma Real Estate has largely triumphed in a legal battle with onetime 3 Sutton Place developer Joseph Beninati of the Bauhouse Group, who had accused the firm of of devising a “calculated scheme” to take control of his Midtown East condo project, according to Gamma’s attorney. A New York bankruptcy court judge issued a preliminary ruling Wednesday that mostly rejects Beninati’s claims against the company, run by N. Richard Kalikow and Jonathan Kalikow. The court … [more] |
You are subscribed to email updates from The Real Deal New York. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
Google Inc., 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States |
Loading...
Loading...