The Real Deal - New York Real Estate News

When Jeffrey Epstein landed at Teterboro Airport after a long vacation in Paris, the FBI was waiting on the tarmac. An hour later, federal agents broke down the massive oak front door to his palatial townhouse in Manhattan and found what they said were hundreds of lewd pictures of underage girls. Epstein, a financier with a private Boeing 747 and six homes across the globe, faces up to 45 years in prison for allegedly operating […]

The New York Institute of Technology is looking to cash in on Manhattan real estate prices by selling an academic building located a block west of Central Park. The college has owned 1855 Broadway — a 12-story building near Columbus Circle — since 1975, records show. Located at the corner of Broadway and West 61st Street, the 78,000-square-foot property currently serves as a satellite campus for the Long Island-based school. Sources said the NYIT is […]

While many of the top agents on this ranking have stuck to the rarefied world of Manhattan real estate, others (particularly the largest of the teams) have aggressively ventured into the boroughs. The Eklund | Gomes Team and the Serhant Team are, for example, both pushing deeper into Brooklyn in particular. In February, Eklund | Gomes tapped a new team leader in Brooklyn, Jessica Peters, who will focus on new development. The duo’s 10-person Brooklyn […]

Eight Frank Lloyd Wright-designed buildings joined the likes of the Taj Mahal and the Statue of Liberty on a United Nations list of culturally significant global landmarks. A UNESCO committee voted on Sunday to induct the eight American buildings into the United Nations’ World Heritage List, according to the Chicago Tribune. Among the inductees were Unity Temple in Oak Park and the Frederick C. Robie House in Chicago’s Hyde Park neighborhood, which were respectively completed […]

Newmark Knight Frank retail broker Tom Citron has left the brokerage to join Colliers International. Citron, whose headline deals include representing H&M at its huge Herald Square flagship, joined Colliers as an executive managing director, according to a spokesperson for Colliers. Stephen Shapiro, director of operations for Colliers’ tristate region, said in a statement that Tom was a “dynamic leader” with a track record of “developing and implementing creative solutions” to help clients achieve their […]

JPMorgan’s long-awaited plans for a new corporate headquarters in Manhattan are now officially on file with the city. The banking giant’s upcoming tower at 270 Park Avenue topped June’s list of the largest projects coming to New York City by a wide margin. The 57-story tower would span about 1.9 million square feet, more than double the size of June’s second place project: a roughly 415,000-square-foot development from Eliot Spitzer and the Related Companies at […]

A 15,000-square-foot home on Long Island whose previous listing broker once said it was the largest environmentally sustainable residence in the nation has relisted with a $24.8 million ask. The new listing price for the mansion at 88 Old House Lane in Sands Point is a little more than $13 million less than the $38 million the property sought when it first hit the market in 2015. Patch noted over the weekend that the home, […]

Glacier Global Partners and Triangle Assets took out a $205 million refinancing on their Dumbo office redevelopment, which will be home to Soho House’s new co-working venture. French bank Natixis provided the sponsors with the floating-rate loan on the property at 10 Jay Street, brokers who arranged the debt told The Real Deal. Newmark Knight Frank’s Dustin Stolly secured the financing for the sponsors, along with colleagues Jordan Roeschlaub, Dylan Kane, Chris Kramer and Nick […]

Russian oligarch and billionaire Dmitry Rybolovlev sold the last lot of President Trump’s former waterfront Palm Beach estate for $37.3 million. Rybolovlev sold the 2-acre lot at 525 North County Road for about $385 per square foot, records show. Rybolovlev, who reportedly made most of his fortune from a fertilizer business, bought the 6.26-acre estate from Trump in 2008 for $95 million, then razed a mansion on the property and divided the land into three […]

There were nine contracts signed in Brooklyn’s luxury market last week for a total of about $24.8 million. The properties included seven townhouses and two condominiums, and they went for an average price of about $2.8 million, according to the latest report from Compass. The firm classifies luxury properties as all homes priced at $2 million or higher. The market was down from the previous week, when it saw 18 contracts signed for about $50.2 […]

Manhattan’s luxury market saw nine contracts signed last week for a total of about $53.9 million, a drastic slowdown after 10 straight weeks of 20 or more sales, according to Olshan Realty. The contracts signed at $4 million or above were split between seven condominiums and two co-ops. Sales and dollar volume were both way down from the week prior, when the market saw 25 contracts signed for about $237 million. Olshan attributed this dramatic […]

Interior architects may want to give the Department of Citywide Administrative Services a call: the city is reducing the sizes of cubicles for its workers to make room for more of them. The agency is cutting workstation sizes from 6 feet by 8 or 10 feet to 6 feet by 6 feet, according to the Wall Street Journal. DCAS has also added more places for private phone calls and communal space. DCAS launched a plan […]

The We Company needs to take care of something before its initial public offering: raising a few billion dollars by selling its considerable debt. The company, which remains unprofitable, wants to raise up to $3 billion or $4 billion through a debt facility that could eventually increase to $10 billion, according to the Wall Street Journal. The We Company hopes that this will help boost confidence in its business, especially following the IPOs of Lyft […]

Prana Investments bought a pair of multifamily buildings in the Bronx from the Related Companies’s asset management arm for nearly $40 million. Prana, the multifamily investor headquartered in San Francisco, paid $36 million to pick up the 252-unit River Court and Gerard Court apartment complex in the Concourse section of the Bronx, sources told The Real Deal. The pricing works out to about $142,000 per unit for the buildings at 1065-1075 Gerard Avenue. The seller […]

A little more than two months after going to contract on a Hamptons home that reportedly had a room for his gun collection, Donald Trump Jr. and his girlfriend, former Fox News host Kimberly Guilfoyle, have closed on their collective purchase. The new couple ultimately agreed to pay $4.4 million for a seven-bedroom estate spanning 9,200 square feet in Bridgehampton, according to the New York Post, which added that the eldest son of President Donald […]

Prewar. Park Avenue. Spacious. The four-bedroom co-op with a beamed ceiling and library on the Upper East Side seemed to check a lot of boxes. But buyers yawned. First listed in 2014 for nearly $13 million, the unit at 941 Park Avenue sat unsold as the market weakened. Then, in 2016, Douglas Elliman’s Lauren Muss took over the listing and slashed the price to $9.5 million. But that still didn’t do the trick. Finally, two […]

The top 10 Manhattan loans recorded in June totaled a whopping $4.9 billion, the highest sum in over a year. Including the $1.43 billion headliner, a total of six real estate loans worth more than $400 million were recorded. Financing packages for two separate sections of one building – 30 Hudson Yards – both made it into the top four. 1) Allianz, Ak­qui­si­ti­onsfinanz – $1.43 billion The Related Companies and minority partner Allianz financed their […]

The need to light up while at work isn’t the kind of thing that Silverstein Properties chairman Larry Silverstein “would be attracted to,” but, for his tenants, he puts personal taste aside. In a one-on-one interview with The Real Deal‘s publisher Amir Korangy, Silverstein described how he’s convinced hip companies like Swedish music-streaming giant Spotify to move into the Financial District. The key, according to the 87-year-old developer, is accommodating their “different” needs for an […]

In the second episode of The Real Deal‘s new series “Brokers In Cabs,” the Corcoran Group’s Sydney Blumstein talked about agent gossip, how a dating competition in her rental broker days led to gobs of new business, the appeal of first-time homebuyers, and why she thinks many developers are three years behind the curve and out of touch with buyers. Blumstein, a New York native who works with her parents on the Blumstein Team, has […]

David Von Spreckelsen had a very specific checklist when planning 121 East 22nd Street. The president of Toll Brothers’ City Living wanted an architecturally significant building, designed by an international firm with a presence in New York. Click here to read the full Q&A, “Talking to Toll” He was able to check off all of those boxes when he signed a deal with OMA Architecture, Rem Koolhaas’ Dutch firm, to take on the project. The […]

Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales.

From the August issue: Joanne Podell, a veteran retail broker and executive vice chairman at Cushman & Wakefield, was named the company’s top producer nationwide in 2016. She is the second woman in the history of the company to receive that designation. Podell, who has brokered more than 100,000 square feet in the past year, spearheaded the largest retail transaction in New York City in 2016 when she represented sports giant Nike in a 70,000-square-foot lease […]

Connect with The Real Deal on Facebook for breaking news, original videos, fun facts and more!