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The Real Deal - New York Real Estate News |
STRS Ohio looks to sell retail condo at 15 Union Sq. West Posted: 10 Feb 2017 03:40 PM PST The State Teachers Retirement System of Ohio is putting its retail condominium unit at 15 Union Square West on the market, sources told The Real Deal. The pension fund has been in talks with brokerages such as Cushman & Wakefield, CBRE and Colliers International to market the 15,000-square-foot space at the base of a 12-story, 89,240-square-foot residential condo building directly west of Union Square, sources said. A brokerage has not yet been selected, sources said. … [more] |
Colbie Smulders sells LA property for $1.4M to Demetri Martin Posted: 10 Feb 2017 03:00 PM PST From the Los Angeles website: A Los Feliz property owned by Robin Scherbatsky has sold for $1.4 million, blue French horn not included. Colbie Smulders, star of CBS hit “How I met Your Mother,” handed the keys to none other than comedian Demetri Martin. [more] … [more] |
State’s top housing official takes operations job Posted: 10 Feb 2017 02:37 PM PST Gov. Andrew Cuomo has tapped Jamie Rubin, the state’s top housing official, to become the next director of state operations. Rubin, commissioner of the state Homes and Community Renewal agency, will start his new role next week, Politico reported. His appointment follows the departure of Jim Malatras, who left last month for a position at SUNY’s Rockefeller Institute of Government. RuthAnne Visnauskas, executive deputy commissioner at the agency, is expected to replace Rubin. Rubin’s previous … [more] |
The Real Deal is headed back to Long Island! Posted: 10 Feb 2017 02:00 PM PST Which firms made the list of top residential brokerages in Nassau and Suffolk counties? What new developments can we expect? What are Long Island’s priciest listings? The Real Deal is excited to head back to the Island and will soon release our second Long Island Market Report, a roundup of real estate news and information about Nassau and Suffolk counties’ residential and commercial markets. Our coverage of the market includes rankings of the top residential firms and … [more] |
PE firm Lone Star expands at Vornado’s 888 Seventh Posted: 10 Feb 2017 01:30 PM PST Private fund manager Lone Star Funds is expanding at Vornado Realty Trust’s 888 Seventh Avenue, more than doubling its footprint from 22,000 to 50,000 square feet. The Texas-based private equity firm would pay in the $80s per square foot for its space in the 47-story building. CBRE’s Harly Stevens represented the tenant and Vornado’s Jared Solomon represented the landlord. Lone Star has around $70 billion in assets under management, including in its real estate funds. … [more] |
Bistricer’s Clipper Realty debuts on NYSE Posted: 10 Feb 2017 01:00 PM PST David Bistricer’s Clipper Realty debuted on the New York Stock Exchange on Friday, looking to raise $68.1 million through the sale of its common stock. The Brooklyn-based real estate investment trust — which controls more than 3,000 residential units in Manhattan and Brooklyn — priced its initial public offering at $13.50 a share. The company saw its stock price rise to $15 a share just after the market opened, before settling in around its target … [more] |
World’s oldest merchant bank nears deal at GM Building Posted: 10 Feb 2017 12:45 PM PST The world’s oldest merchant bank is close to acquiring a new office space that will have it rubbing shoulders with New York’s financial elite. Hamburg, Germany-based Berenberg Bank has a lease out for the full, 40,000-square-foot 33rd Floor at Boston Properties’ General Motors Building, sources told The Real Deal. Asking rents at the white marble-clad tower overlooking Central Park at 767 Fifth Avenue, which Mort Zuckerman’s Boston Properties owns along with Brazil’s Safra banking family … [more] |
Plans to convert Staten Island prison to $20M movie studio lie on the cutting room floor Posted: 10 Feb 2017 12:00 PM PST Talk about quiet on the set. A former Staten Island prison will have to wait a little longer before becoming a movie studio, State Comptroller Tom DiNapoli determined. According to documents obtained by DNAinfo, DiNapoli’s office expressed hesitations over the state’s $7 million proposed sale of Arthur Kill Correctional Facility amid an investigation regarding Mayor Bill de Blasio’s fundraising. The proposed buyer, Broadway Stages, including its owners and president, Gina Argento, donated roughly $100,000 to … [more] |
Bronx multifamily pricing rose 13% in 2016: report Posted: 10 Feb 2017 11:40 AM PST Price gains for multifamily properties in the Bronx climbed higher in 2016 than any submarket in the city outside of Queens. But after years of surging growth, sales volumes turned south last year as investors pulled back on the throttle, according to a new year-end report from Ariel Property Advisors. Overall, Bronx multifamily pricing metrics increased 13 percent on the year as buyers searched for relative affordability. The price per unit rose 19 percent to … [more] |
SL Green, Vornado sign Japanese financial firm at 280 Park Posted: 10 Feb 2017 11:10 AM PST The U.S. arm of Japan-based financial firm Orix USA Corporation signed a 20,123-square foot lease at Vornado Realty Trust and SL Green Realty’s 280 Park Avenue. The lease is for 10 years, and will see the firm taking space across the entire 40th floor of the 43-story Midtown building, the Commercial Observer reported. Asking rents were $115 per square foot, according to the publication. Orix USA is a tenant at 485 Lexington Avenue, where it … [more] |
Comedian Jackie Mason lists Midtown apartment for $3M Posted: 10 Feb 2017 10:20 AM PST From Luxury Listings NYC: Veteran stand-up comedian Jackie Mason and his wife and manager Jyll Rosenfeld listed their apartment at 146 West 57th Street for $2.7 million. [more] … [more] |
Can’t pay up: Payless Shoes may shut down 1,000 stores Posted: 10 Feb 2017 09:50 AM PST Discount shoe purveyor Payless Shoes is considering shuttering some 1,000 stores to deal with its $600 million debt load. The retailer is debating whether or not to restructure in or out of court, Bloomberg reported. The company might file for bankruptcy if it can’t reach a deal with its creditors. As of last year, Payless had 95 stores in New York City, and was one of the top 10 retailers in both Brooklyn and the … [more] |
Starbucks CEO Howard Schultz buys Greenwich Lane’s priciest PH for $40M Posted: 10 Feb 2017 09:20 AM PST Howard Schultz, the CEO of Starbucks, paid just over $40 million for the priciest condo at Greenwich Lane, the Rudin family and Global Holdings’ condominium conversion in Greenwich Village, The Real Deal has learned. At $7,159 per square foot, the sprawling penthouse is among the priciest residential sales to date in Greenwich Village. Schultz went into contract in February 2015. The penthouse was asking $45 million, or $8,054 per square foot. The deal closes just … [more] |
“The Closing” book available for purchase, download Posted: 10 Feb 2017 09:00 AM PST “The Closing” book features 100 candid interviews with industry heavyweights, who share the good, the bad and the ugly they faced while climbing to the top, and for some, falling from grace. The collection is drawn from nearly a decade of The Real Deal’s back-page interview, The Closing, one of the most popular features with readers since the magazine’s inception. In no-holds-barred conversations, we learn about the tough times and the triumphs of luminaries like Charles Kushner, who … [more] |
WATCH: NYC real estate’s week in numbers Posted: 10 Feb 2017 08:25 AM PST A $145 million East Village portfolio, 655 rent-regulated apartments and a $550 million loan. In real estate, it’s all about the numbers. To see the most important stats and facts from this past week, watch the video here. |
US real estate kickbacks prompt penalties by consumer agency Posted: 10 Feb 2017 07:30 AM PST If your real estate agent requires you to get a mortgage pre-approval from one specific lender as a condition of submitting an offer to buy a house — even if another lender already pre-approved you — would you think something is fishy? If an agent offered discounts off the price of the house you want to buy — but only if you used a designated lender for your mortgage — would you be suspicious? What … [more] |
Judge orders Aurora, Gottlieb to stop work on parts of Gansevoort Street development Posted: 10 Feb 2017 07:05 AM PST The developers behind the Gansevoort project in the Meatpacking District are barred from doing construction or demolition work on multiple buildings connected to the development, while a lawsuit against them progresses. New York State Supreme Court Justice Joan Lobis ruled in favor of local advocacy group Save Gansevoort on Thursday, issuing an injunction to stop Aurora Capital Associates and William Gottlieb Real Estate from proceeding with certain types of work on 52-58 Gansevoort Street, Politico … [more] |
Harlem contractor settles after accusations of bilking workers Posted: 10 Feb 2017 06:30 AM PST A construction company that allegedly shortchanged workers at a Harlem affordable housing project paid $189,000 to settle charges brought by federal prosecutors. A. Aleem Construction and the developer of the project, W. 131st St. Development Corp., led by principal Alan Levine, reached an agreement with the U.S. Department of Labor, over allegations that they underpaid workers, the New York Daily News reported. The deal came to light just as state Attorney General Eric Schneiderman was … [more] |
Trump is a pesky Palm Beach neighbor, Jeff Greene says Posted: 10 Feb 2017 06:05 AM PST From the South Florida website: Billionaire real estate investor Jeff Greene said President Donald Trump’s recent visit and the accompanying traffic hurt his business at Tideline Resort & Spa. A portion of Palm Beach near Mar-a-Lago was effectively closed off by Secret Service while Trump was in town last weekend. And in West Palm Beach, Trump protesters jammed Flagler Drive. [more] … [more] |
Morgan Stanley weighs move to Hudson Yards Posted: 10 Feb 2017 05:30 AM PST Morgan Stanley is weighing a move to Hudson Yards, the latest major bank to consider planting a flag on the Far West Side of Manhattan. The bank is exploring the purchase of 2 million square feet at 50 Hudson Yards, the 2.9 million-square-foot tower where BlackRock is planning to move its headquarters. Talks are still in the early stages, and Morgan Stanley is also considering other sites in Hudson Yards. “We routinely review potential options … [more] |
A look at the real estate, Wall St. players in Trump’s inner circle Posted: 10 Feb 2017 05:00 AM PST From the February issue: The estimated net worth of Trump’s cabinet is now pegged between $12 and $15 billion — on par with the projected cost of building the Mexico border wall. Four of the new administration members follow in the footsteps of previous Goldman Sachs alumni to join the White House, including Robert Rubin, Stephen Friedman and Henry Paulson, while others hail from different realms of high finance. Here are some of the top … [more] |
Plagues of Austin Nichols: Kushner’s Williamsburg troubled rental allegedly infested with rodents Posted: 10 Feb 2017 04:30 AM PST Kushner Companies’ troubled Williamsburg rental building is now reportedly contending with a wave of unwanted visitors: mice, ants and rats. Tenants of 184 Kent Avenue claim their apartments are plagued by various vermin, as well as construction dust and unexpected heat shutoffs, Gothamist reported. The complaints are the latest signs of trouble reported at the building, which Kushner purchased in 2015 for $275 million. Last summer, there were four fires in the building, the causes … [more] |
Condos at Kushner’s Puck having luck as rentals instead Posted: 10 Feb 2017 04:00 AM PST Amid the chilly luxury condominium market, Kushner Companies has quietly rented several of its unsold Puck Penthouses. Penthouse III, one of six units atop the landmark building at 293 Lafayette Street, was the most recent to be snapped up after asking $57,000 a month. The three-bedroom unit was previously listed for sale, asking $19.95 million. The Corcoran Group’s Deborah Grubman had the listing. Douglas Elliman’s Oren and Tal Alexander brought the renter, according to the brothers’ Instagram … [more] |
Most popular stories on The Real Deal Posted: 10 Feb 2017 03:30 AM PST Current reader favorites: 1. Michael Cohen says so 2. When Jared Kushner came to dinner 3. The gap between luxury and non-luxury rentals is shrinking 4. Queens takes the throne 5. Day in the life of: James Nelson … [more] |
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