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The Real Deal - New York Real Estate News |
Posted: 31 Aug 2017 03:20 PM PDT Single-family home sales are on the rise in Connecticut Home sales increased by 12.7 percent in Connecticut from July 2016 to July 2017, according to data from real estate and financial information firm the Warren Group. Statewide, 3,641 homes were sold this past July. The median price of single-family homes also increased about 2.7 percent: from $260,000 in July 2016 to $270,000 in July 2017. [FBJ] Greenwich home sales declined in July, but remain steady […] |
Aetna looks to sweeten Meatpacking deal Posted: 31 Aug 2017 02:50 PM PDT Insurance giant Aetna is looking to beef up the economic incentives the company’s getting in order to relocate its headquarters to the Meatpacking District from Connecticut. In addition to the $24 million in tax credits the state pledged to lure Aetna across state lines and into Aurora Capital Associates and Vornado Realty Trust’s 61 Ninth Avenue, the insurer is also asking for a break on its city property-tax bill. Aetna filed an application with the […] |
Here’s why Zillow’s stock has fallen 23% since June Posted: 31 Aug 2017 02:20 PM PDT Zillow Group is on track to make $1 billion this year, but it’s been a topsy-turvy few months for the stock. |
Posted: 31 Aug 2017 01:50 PM PDT From the August issue: 1910: Oldest NYC land records go missing Nearly two dozen of the “oldest and most valuable real estate records of old New York” were confirmed missing, the New York Times reported 107 years ago this month. The 23 books of English and Dutch records, which dated as far back as 1686, were lost when they were transferred from an older archives building to the newly constructed Hall of Records at 31 Chambers […] |
Akelius strikes $100M deal in Chelsea Posted: 31 Aug 2017 01:20 PM PDT Akelius Real Estate Management is moving deeper into the Manhattan multifamily market with the $100 million purchase of two adjacent Chelsea rental buildings, the firm told The Real Deal. The contiguous buildings at 225 West 23rd Street and 220 West 24th Street have a total of 245 apartments, a mix of free-market and rent-stabilized. The firm, which is the U.S. arm of Swedish real estate giant Akelius, closed Thursday on the deal, paying $808 per […] |
High Line architects buy East Village co-op for $1.7M Posted: 31 Aug 2017 12:48 PM PDT From LLNYC: Starchitects Elizabeth Diller and Ricardo Scofidio — the husband and wife duo whose firm, Diller Scofidio Renfro, designed the High Line — just picked up a co-op at 115 East 9th Street for $1.7 million, according to Curbed. Per city records, the design duo already owns the neighboring unit in the building — and has since at least 1999 — so it’s likely they are planning a conversion project. We have a feeling the plans for that renovation won’t […] |
Akelius makes $61M Gramercy buy Posted: 31 Aug 2017 12:25 PM PDT Akelius Real Estate Management picked up a 117-unit Gramercy rental building from Benedict Realty Group for nearly $61 million. Akelius, the U.S. arm of Swedish investment giant Akelius that’s acquired a portfolio of more than 1,000 apartments since its launch in 2015, paid $60.9 million to buy the six-story building at 321 East 22nd Street, according to brokers at HFF who negotiated the deal on behalf of the seller. The price works out to roughly […] |
Former Kate Spade CEO lists polished Tribeca pad for $6M Posted: 31 Aug 2017 11:45 AM PDT From LLNYC: Craig Leavitt, the former CEO of Kate Spade, has just listed his tasteful condominium unit at 71 Laight Street for $6.4 million, per city records. Leavitt paid $5.2 million for the pad in 2015, so he’s asking for a pretty hefty increase here. According to the listing, with Linda Feder of Corcoran, the unit is “virtually brand new,” though he did do some renovations to the place. The most exciting one is probably […] |
Capstone, Highgate buy the Nyma hotel Posted: 31 Aug 2017 11:22 AM PDT UPDATED, Aug. 31, 4:15 p.m.: Capstone Equities, in partnership with Highgate and an affiliate of Republic Investment Company, picked up the Nyma Hotel in Koreatown for $52 million, the latest hotel to trade in a struggling market, The Real Deal has learned. Capstone, a Midtown investment firm led by Josh Zamir, Daniel Ghadamian and Justin Adelipour, provided the majority of the equity for the purchase of the 17-story, 171-key hotel at 6-8 West 32nd Street, […] |
The Kushner empire is under threat Posted: 31 Aug 2017 10:10 AM PDT Kushner Companies’ real estate kingdom is under threat from a ticking debt clock on the firm’s flagship asset and an ever-shrinking pool of investors willing to consider rescuing it. Meanwhile, the firm is retreating from one of its biggest Brooklyn bets and continues to face government scrutiny into the business dealings of its former CEO and current White House adviser, Jared Kushner. The firm has sought capital from the likes of France’s richest man, a […] |
Harvey’s wrath: $55B worth of Houston commercial real estate may be under water Posted: 31 Aug 2017 09:41 AM PDT As much as 27 percent of Houston’s commercial real estate may be impacted by flooding in the wake of Hurricane Harvey, according to a CoStar analysis of flood maps. The 12,000 potentially affected properties span 433 million square feet and have a combined value of $55 billion, the real estate data company said. They include 167,281 apartments, 73 million square feet of retail space, 60 million square feet of office space and 11 hospitals. The […] |
What if the Statue of Liberty was a luxury condo conversion? Posted: 31 Aug 2017 08:30 AM PDT From LLNYC: “Hello muddled cocktails. Goodbye huddle masses.” That’s an invitation for you to “immigrate to luxury” at One Liberty — a hilarious (terrifyingly real) real estate parody website. “Give us your inspired, your influencers, your trendsetter looking for the latest in luxury living spaces with bespoke interiors, stainless steel appliances and a 24-7 concierge,” the uncomfortably real ad copy reads. One Liberty lampoons the real estate industry’s shameless, never-ceasing mission to degrade all that is […] |
Former Avon CEO takes $600K loss on swanky Park Avenue condo Posted: 31 Aug 2017 07:30 AM PDT In yet another sign of the weakening ultra-luxury market, former Avon CEO Andrea Jung sold her apartment at Toll Brothers’ 1110 Park Avenue for $17 million — a $600,000 loss on what she paid last year. Jung, now the president and CEO of microfinancing group Grameen America, paid $17.6 million for the five-bedroom, 5,702-square foot duplex in June 2016, the New York Post reported. She then listed it for $18 million in January, according to […] |
HNA Group files defamation suit against exiled Chinese real estate mogul Posted: 31 Aug 2017 07:00 AM PDT HNA Group filed a defamation lawsuit in New York against a self-exiled Chinese real estate mogul who claimed that a high-ranking official in the country’s Communist Party has ties to the company. HNA’s lawsuit says Guo Wengui made “repeatedly false and defamatory statements,” including a claim that Yao Qing, a nephew of Wang Qishan, the Communist Party’s top anti-corruption official and close supporter of Chinese President Xi Jinpin, is one of HNA’s shareholders, the Wall […] |
LA firm scoops up Jehovah’s Witnesses building for $58M Posted: 31 Aug 2017 06:20 AM PDT The Jehovah’s Witnesses sold off 97 Columbia Heights to Los Angeles-based real estate investor Hawkins Way Capital for $58 million. |
Over 90% of retail sales occur in brick-and-mortar stores Posted: 31 Aug 2017 06:00 AM PDT According to this week’s market reports, over 90 percent of retail sales occur in brick-and-mortar stores, and by one measure, one-bedroom rents in New York are down 9 percent year-over-year. Residential Luxury sales | Olshan Realty Fifteen residential contracts were signed last week at $4 million and above, the ninth consecutive week with fewer than 20 luxury sales. The total asking dollar volume was $100 million. Read the full report here. Rental report | Zumper […] |
Why Harry Macklowe’s divorce trial could get really ugly Posted: 31 Aug 2017 05:30 AM PDT Harry Macklowe’s divorce is “not going to be a pleasant experience” if he and his estranged wife can’t agree on how to divvy up their fortune without going to court, a Manhattan judge said Wednesday. The real estate mogul reportedly offered his wife of 58 years, Linda Macklowe, $1 billion to end their marriage. But Linda turned the offer down and served her husband with divorce papers, and now the two are set to go to […] |
Construction safety bill won’t be voted on until after primary day Posted: 31 Aug 2017 05:10 AM PDT What a difference a day makes. The City Council’s controversial construction safety bill won’t hit the floor for a vote before the Sept. 12 election primary, a key date for lawmakers seeking endorsements from the bill’s union backers. City Council members supporting the bill, which has already been delayed, wanted to get it voted on by the council’s last stated meeting before the primary, which is Sept. 9. But in order to do that, the final text would […] |
We ranked the 10 biggest new-development marketing firms by closed sales Posted: 31 Aug 2017 04:30 AM PDT For all the uncertainty in the market, The Real Deal’s latest ranking of new-development firms, in many ways, reflects our previous rankings — though this time around we’ve included projects in Brooklyn and Queens, where new condos have sprouted like weeds in the last five years. The top firms on the ranking closed a combined $20.62 billion in new development condos in the last three years. Once again, when analyzing closed sales, the Corcoran Group […] |
Meet Paul Manafort’s real estate fixer Posted: 31 Aug 2017 04:00 AM PDT A common denominator in Paul Manafort’s deals, both past and present, is Brad Zackson, a veteran NY real estate operative. |
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