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The Real Deal - New York Real Estate News |
Judge refuses to dismiss criminal charges against Ludwick Posted: 06 Mar 2017 03:00 PM PST Sean Ludwick, the BlackHouse Development CEO accused of drunkenly crashing a car and leaving his passenger to die, lost his bid to have the multiple felony charges against him dismissed. New York State Supreme Court Justice Fernando Camacho denied the defense team’s motion to dismiss the most serious charges against Ludwick last week, 27East reported. Ludwick’s lawyers were arguing the grand jury was never shown evidence that proved Ludwick was driving the car registered in … [more] |
Telecom exec lists $20M apartment at Trump International Posted: 06 Mar 2017 02:30 PM PST From Luxury Listings NYC: Two adjoining units at Trump International Hotel & Tower have just hit the market asking $19.9 million. According to property records, they are owned by Sanjiv Ahuja, founder of the telecommunications company Tillman Global Holdings. [more] … [more] |
Ryan Serhant, top brokers denounce StreetEasy agent program Posted: 06 Mar 2017 02:15 PM PST Some of the city’s most prominent real estate brokers are taking to social media to berate StreetEasy’s controversial new premier agent feature, which farms out listing leads to agents who pay to advertise on the platform. Ryan Serhant , a broker at Nest Seekers International and star of “Million Dollar Listing New York,” posted two videos on Instagram Sunday, showing what happens when a consumer attempts to reach the broker for a listing they’re eying … [more] |
Insurer inks 48K sf lease at Rockpoint’s Meatpacking project Posted: 06 Mar 2017 01:20 PM PST Rockpoint Group, Highgate and the Meilman family found an anchor tenant for their Meatpacking District office development at 413 West 14th Street. Bermuda-based insurer Argo Group agreed to lease 48,000 square feet at an asking rent of around $100 per square foot in the 200,000-square-foot project, Crain’s reported. Argo would take the top two floors in a four-story office building the three developers are renovating. As part of a 200,000-square-foot project, the partners are also … [more] |
Jared Kushner looks to be still tied up in 229 West 43rd Street retail condo Posted: 06 Mar 2017 12:50 PM PST The White House recently confirmed that Jared Kushner, President Trump’s son-in-law and perhaps his closest adviser, would hold on to some of his real estate assets. Kushner, who stepped down as head of Kushner Companies, has so far declined to provide a comprehensive list of what he will and will not keep. But a loan document reviewed by real estate attorneys for The Real Deal suggests that he is still tied up in at least … [more] |
BLDG secures $70M to refi UWS rental building Posted: 06 Mar 2017 12:25 PM PST Lloyd Goldman’s BLDG Management locked down $70 million to refinance its rental building on Broadway on the Upper West Side. State Farm Realty Mortgage provided the mortgage for the 26-story property at 2380 Broadway and West 87th Street, according to records filed with the city Monday. The financing includes a new $39.5 million mortgage and replaces an outstanding $40.5 million on a $43 million loan issued by Signature Bank in 2010. The building at 2380 … [more] |
Posted: 06 Mar 2017 11:55 AM PST From the March issue: Retired Los Angeles Angels pitcher C.J. Wilson hopes to throw a strike with his Beverly Hills mansion after a 20 percent price drop. Fidelity National Financial, a big kahuna in the title insurance industry, is actively looking to acquire more real estate brokerages on the West Coast — a move that could put the title company in competition with some of its largest brokerage customers. Goldie Hawn and Kurt Russell didn’t go … [more] |
Plated gobbles up 23K sf at Kaufman’s 111 West 19th Street Posted: 06 Mar 2017 11:10 AM PST Meal-kit delivery service Plated signed a lease for 23,000 square feet at the Kaufman Organization’s 111 West 19th Street. Plated signed a 10-year lease for the full third floor in the eight-story, 185,000-square-foot building, the Wall Street Journal reported. The company is relocating from its current 11,000-square-foot office at 22 West 19th Street, another Kaufman property. The rent in the deal was not provided, but asking rents in the building range from $60 to $80 … [more] |
Allure demands lender pay $40M for Brooklyn nursing home Posted: 06 Mar 2017 10:40 AM PST The Allure Group fired back against a lawsuit filed by its lender on a Brooklyn nursing home, claiming that the financial firm should pay $40 million for the property. Allure, headed by Joel Landau, claims that the Sabre Group must pay $40 million for 270 Nostrand Avenue and an additional $6 million because the sale of the property didn’t close on time, according to documents filed in state Supreme Court. Allure, one of the developers … [more] |
Manhattan leasing up 40% so far this year Posted: 06 Mar 2017 10:10 AM PST The Manhattan office market’s hot start to 2017 continued into February, as a strong month of leasing pushed activity nearly 40 percent higher year-over-year. Led by a pair of large deals downtown, new leases and renewals totaled 3.15 million square feet in February, an increase of 10 percent over activity from February 2016, according to Colliers International. Following a busy January, 2017’s activity stood at 7.65 million square feet at the end of February, an … [more] |
Adam Leitman Bailey told tenant to commit suicide: lawsuit Posted: 06 Mar 2017 09:55 AM PST Real estate lawyer Adam Leitman Bailey allegedly told a tenant he was “worthless” and that he should “commit suicide,” according to a new lawsuit leveled against the prominent attorney in Manhattan Supreme Court. James Dawson, a former resident at Lalezarian Properties’ 100 Maiden Lane, is suing Bailey for malpractice, the New York Post reported. Dawson clashed with Bailey, who represents Lalezarian, after Dawson accused Lalezarian of showing his unit to potential tenants without notice, court … [more] |
Isaac Chetrit sues would-be buyer of Garment District office building for allegedly backing out Posted: 06 Mar 2017 09:35 AM PST UPDATED, 2:24 p.m., March 6: It looks like Isaac Chetrit is stuck with a vacant Garment District office building he rescued from distress — and sought to flip — for longer than he expected. Chetrit filed a lawsuit Friday against the buyer of a 14-story property at 315 West 35th Street for allegedly backing out. The Garment District-based investor entered contract in August 2016 to sell it to New Jersey-based importer-exporter Frank Ng for $38 … [more] |
Louise Sunshine, Shahab Karmely and more confirmed for TRD’s Broward event Posted: 06 Mar 2017 08:35 AM 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] |
The week in luxury: A map of NYC’s priciest apartment sales Posted: 06 Mar 2017 08:00 AM PST Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales. Click here to see this week’s version. |
28 contracts signed at $4M and above last week: Olshan Posted: 06 Mar 2017 07:30 AM PST The city’s luxury market saw a strong week last week, with 28 contracts signed at $4 million and above. In total, the weekly asking price sales volume was $181 million between Feb. 27 and March 5, according to the weekly report from Olshan Realty. Out of the 28 contracts, 21 were on condominiums (with an average ask of $6 million). Six were on co-ops ($8.3 million) and one was on a condop, asking $4.6 million. … [more] |
Bjarke Ingels’ firm inks 50K sf lease in Dumbo Posted: 06 Mar 2017 07:00 AM PST Bjarke Ingels’ architecture firm is relocating from Lower Manhattan to Dumbo, the Brooklyn neighborhood the starchitect calls home. BIG-Bjarke Ingels Group signed a lease for 50,000 square feet at Two Trees Management’s 45 Main Street, the Wall Street Journal reported. The new location is more than double the size of BIG’s space at 61 Broadway, and is closer to the firm’s workforce. Ingels told the Journal that he estimates about three quarters of the nearly 200 … [more] |
Nonprofit, public sector office tenants had most active year since recession Posted: 06 Mar 2017 06:30 AM PST Nonprofit and public-sector tenants leased 4.1 million square feet of office space in the city last year – the most since the recession. Health care mergers, the search for less expensive space and institutions looking to monetize their real estate holdings all contributed toward the increase. The total square footage nonprofit and public sector tenants leased in 2016 climbed 78 percent in 2016 mostly on the backs of large leases resulting from regional hospital mergers, … [more] |
Chinese investors could exit US in favor of Asia Posted: 06 Mar 2017 06:00 AM PST After two-year stretch during which the yuan depreciated against the dollar, the Chinese currency is on the rise in 2017, which could lead to a shift away from New York City real estate. “The bulk of yuan depreciation has probably already happened, and if that’s the case there is less incentive for Chinese investors to place money in dollar-denominated assets,” Andrew Haskins, director of Asia research and advisory services at Colliers International, told Bloomberg. Haskins … [more] |
Compass takes over sales at Tessler’s 172 Madison Avenue from Keller Williams Posted: 06 Mar 2017 05:30 AM PST Compass is taking over sales at Tessler Development’s 172 Madison Avenue, a 72-unit condominium project rising at the corner of East 33rd Street. The company is tasked with getting the project over the finish line after what looks to have been a slow 2016. The building is about 60 percent sold after about two years on the market, up from 50 percent sold as of January 2016, according to Billy Goldstein, Compass’ managing director of … [more] |
Mr. C-port: Cipriani-branded hotel to open in South Street Seaport by end of 2017 Posted: 06 Mar 2017 05:00 AM PST The Cipriani family, owners of the famed eponymous restaurant, plans to open its first New York City hotel at the South Street Seaport later this year, ending speculation over the fate of the property at 33 Peck Slip. The 66-key hotel, dubbed Mr. C Seaport, is being developed by Bob Ghassemieh and Alex Ghassemieh — the same duo behind the Mr. C Beverly Hills, which debuted the Mr. C Hotels brand in 2011. Just like … [more] |
How one tweak to affordable housing policy could make a big difference for developers Posted: 06 Mar 2017 04:30 AM PST The federal formula used to determine affordable housing requirements in New York City actually includes income statistics from Westchester, Rockland and Putnam counties, and critics say it’s helping put affordable housing out of reach for scores of city residents. But there’s another approach that may be gaining momentum, and proponents think it might make building affordable housing a more attractive prospect for developers. The proposal, known as income averaging, would allow developers to set aside units … [more] |
Posted: 06 Mar 2017 04:00 AM PST From the March issue: In early 2013, a press release for an upcoming luxury high-rise in New Jersey was blasted out to investors more than 6,000 miles away. Aimed at wealthy Chinese seeking a life in America through the EB-5 visa program — green cards awarded to foreign nationals in exchange for investments in job-creating projects — the release cited Jersey City’s demand for upscale rentals at prices set well below the Manhattan market. Kushner Companies, … [more] |
Most popular stories on The Real Deal Posted: 06 Mar 2017 03:30 AM PST Current reader favorites: 1. Pam Liebman to brokers using StreetEasy’s Premier Agent: You’re on your own 2. The NYC rental firm brawl 3. Attention, brokers: Here’s what’s happening with the world’s ultra-wealthy 4. Wilbur Ross looks to sell Billionaires’ Row PH at loss 5. Real estate’s red tape nightmare … [more] |
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