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The Real Deal - New York Real Estate News |
Citadel grabs short-term space at 520 Madison ahead of move to 425 Park Posted: 20 Feb 2017 02:15 PM PST Ken Griffin’s Citadel hedge fund will move into one of the city’s most buzzed-about offices when L&L Holding finishes 425 Park Avenue in 2019. But in the meantime, traders gotta trade. Citadel signed a short-term sublease for about 24,000 square feet with the investment bank Jefferies at 520 Madison Avenue, and may be in the market for up to another 100,000 square feet, sources told The Real Deal. The hedge fund made headlines last year … [more] |
Louise Sunshine, Shahab Karmely and more confirmed for TRD’s Broward event Posted: 20 Feb 2017 01:30 PM PST The countdown is on for The Real Deal South Florida’s third annual Broward Real Estate Showcase & Forum on April 20. Our speaker confirmations are rolling in, and we’re pleased to announce industry veteran Louise Sunshine, New York developer Shahab Karmely and some of the region’s top real estate movers and shakers are among the notable speakers. More than 3,000 of South Florida’s biggest names – from brokers, developers and designers to investors and homebuyers – will be treated to … [more] |
Residents of 415 CPW use building’s windows to protest Trump Posted: 20 Feb 2017 01:10 PM PST Some of the residents at a Central Park West co-op are using their windows to protest President Trump, but the building management is not impressed. The residents at 415 Central Park West are using large block letters to spell out the word “RESIST” in the windows, the New York Post reported. The building management is unhappy with the protest, according to the paper, which has been strategically timed for Presidents’ Day weekend. Management tried to … [more] |
Brooklyn developers aren’t keeping up with the condo demand Posted: 20 Feb 2017 12:20 PM PST Homebuyers in Brooklyn are snapping up condominiums faster than developers are filing for new ones. In 2016, the number of new residential condo units planned for the borough fell to 1,848, a 34 percent decrease relative to 2015, while the number of condo sales increased each quarter. In January, keeping with the trend, there were 13 condo offerings with a total of 171 residential units filed with the New York State Attorney General’s Office. That’s … [more] |
Landlord Hank Freid hit with $15K more in fines under new Airbnb law Posted: 20 Feb 2017 11:30 AM PST Landlord Hank Freid faces a string of new violations for allegedly listing illegal short-term rentals in another Upper West Side building. The city hit Freid with 15 more violations — at $1,000 a pop — for advertising units at an apartment building turned hotel at 258 West 97th Street, a city spokesperson told The Real Deal. Units in the building were advertised on various sites, including Expedia and Kayak, and guests who were interviewed paid … [more] |
Barnett predicting a dry spell on the 2017 luxury condo market Posted: 20 Feb 2017 11:00 AM PST From the February issue’s “In their words” feature, a roundup of the funniest and most insightful comments on real estate: To read other smart and/or funny sayings, click here for the full feature. … [more] |
Japanese firm snags 20 percent stake in CIM Posted: 20 Feb 2017 10:20 AM PST UPDATED, Feb. 20, 5:13 p.m.: Japanese trading conglomerate Mitsui & Co. will acquire a 20 percent stake in Los Angeles-based real estate investment firm CIM Group, it announced Monday. Mitsui (Note: Correction appended) will also contribute between $450 and $550 million toward funds managed by CIM, it said. The two firms have established a dedicated investment vehicle to manage those funds, known as Sabre Investments LLC. [more] … [more] |
Renderings unveiled for Union Square Tech Hub Posted: 20 Feb 2017 09:55 AM PST RAL Development Services revealed renderings for its 258,000-square foot project on the site of the P.C. Richard & Son store in Union Square. The city’s Economic Development Corporation tapped RAL, headed by Robert Levine, to develop the city-owned site at 124 East 14th Street late last year. The anchor tenant will be Civic Hall, and there will be 58,000 square feet of flexible workspace for growth-stage tech companies, with shorter-term lease options ranging from six … [more] |
Massey pushing for probe into de Blasio’s legal representation Posted: 20 Feb 2017 09:30 AM PST Real estate executive and mayoral candidate Paul Massey is turning up the heat on his opponent Bill de Blasio, claiming the mayor’s arrangement with a law firm could be in violation of criminal and state laws. De Blasio is being investigated over fundraising, the New York Post reported. Law firm Kramer Levin Naftalis & Frankel is representing him. Massey, a Cushman & Wakefield executive who is running for mayor, wrote to District Attorney Cyrus Vance … [more] |
Robert Durst says it was “stupid” to agree to “The Jinx” Posted: 20 Feb 2017 08:10 AM PST The D stands for “duh.” Embattled real estate scion Robert Durst has come to the conclusion that it was “stupid” of him to participate in the HBO documentary series in which he appeared to cop to the 2000 murder of his friend. Durst, who is awaiting trial in Los Angeles, told his friend Nathan Chavin that “The Jinx: The Life and Deaths of Robert Durst” is what put him in prison, according to a recorded … [more] |
Buy your tickets for TRData’s Big Data + Real Estate Forum Posted: 20 Feb 2017 07:20 AM PST To get an edge on the fiercely competitive world of New York City real estate, insiders are turning more frequently to Big Data and technology. In response to the expanding demand for actionable intelligence in one of real estate’s most dynamic fields, The Real Deal is hosting a Big Data + Real Estate Forum on March 9 in Midtown. The Real Deal is bringing together some of New York City’s most knowledgeable Big Data and … [more] |
Neighbors angry about ex-Trump campaign manager’s brownstone “dump” Posted: 20 Feb 2017 06:55 AM PST Paul Manafort, President Trump’s former campaign manager who resigned amid his alleged links to Russia, is facing a controversy of an entirely different nature. His neighbors are complaining his ill-kempt Caroll Gardens brownstone is making the rest of the street look bad. Manafort lives in a Trump Tower condo when he’s in New York City, but also owns a four-story brownstone at 377 Union Street in Carroll Gardens, the New York Post reported. Neighbors claim … [more] |
Last week’s priciest home sold in two weeks: Olshan Posted: 20 Feb 2017 06:03 AM PST At a time when the average residential listing takes more than a year to sell, the city’s priciest listing to go into contract last week did so in just two weeks. The nine-room, duplex penthouse at the co-op building at 4 East 72nd Street went into contract last week with an asking price of $13.9 million, just two weeks after it was first listed, according to Olshan Realty. Year-to-date, a listing at or above $4 … [more] |
London housing prices took a dive in February Posted: 20 Feb 2017 05:30 AM PST London’s housing market saw its largest annual drop in prices in almost six years in February as the capital city continues to underperform the national average. The average asking price for a home in London fell .4 percent year-over-year in February to $797,000, according to data from the property website Rightmove Plc sited by Bloomberg News. That was the first annual decline since April 2011. Asking prices did climb 2.6 percent from January, but that … [more] |
Schumer urges Trump to put NYC security costs in Fed budget Posted: 20 Feb 2017 05:00 AM PST New York senior Senator Chuck Schumer wants President Donald Trump to include in his Federal budget as much as $183 million per year to cover security costs for the president and the First Family in New York City. The New York City Police Department says it costs $500,000 each day to pay for nearly 200 police officers to provide security in and around Trump Tower on Fifth Avenue. That figure to climb to as much … [more] |
Queens roadmap: A real estate investor’s guide to NYC’s most expansive and diverse borough Posted: 20 Feb 2017 04:30 AM PST From the February issue: The former industrial hub-turned-development mecca of Long Island City continues to be ground zero for real estate projects in Queens. Like its neighbor Long Island City, Astoria has been a magnet for investors, with some 3.5 million square feet of development projects in its pipeline, including 4,132 residential units. The low-rise neighborhoods of Sunnyside and Woodside are less than six miles from Midtown Manhattan, with the latter being a roughly 10-minute … [more] |
Not a city of mansions: Small percentage of resi sales were pricier than $2M, says IBO Posted: 20 Feb 2017 04:00 AM PST Critics of Mayor Bill de Blasio’s proposed “mansion tax” object to the measure’s $2 million threshold, but a new report argues that a small percentage of residential sales actually exceed this price point. Of the 156,324 residential sales from 2014 to 2016, only 8 percent cost more than $2 million, according to a report released by the Independent Budget Office on Friday. Nearly 47 percent were for $500,000 or less. The mayor renewed his call … [more] |
Most popular stories on The Real Deal Posted: 20 Feb 2017 03:30 AM PST Current reader favorites: 1. Boxed in: NYC landlords struggling to deal with residents’ online shopping addiction 2. Developers of large Bed-Stuy complex opt for luxury condos over religious housing 3. Historic Bronx beauty asks just $2.6M 4. At Mar-a-Lago, Trump asks LeFrak to build the wall 5. WeWork revamps company, hires former Brooklyn Bowl and Starwood execs … [more] |
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