The Real Deal - New York Real Estate News

House Speaker Nancy Pelosi on Tuesday announced the beginning of a formal impeachment inquiry of President Trump over his conversation with Ukranian President Volodymyr Zelensky. The decision follows the revelation of a whistleblower complaint that was filed in August, which accused Trump of pressuring Zelensky to investigate Democratic presidential candidate Joe Biden and his son, Hunter. Trump’s ties to the country extend further back than that conversation. They include a connection to a Ukrainian developer

Stephen Ross ignited a political wildfire when he hosted a ritzy Hamptons fundraiser for President Donald Trump last month that raked in millions. And the Related Companies chair is still feeling the heat — even at his Hudson Yards megadevelopment. Critics of the Trump administration, outraged over the president’s rhetoric on immigration, quickly denounced Ross and two of his company’s most visible brands: Equinox and SoulCycle. That backlash came swiftly for the 79-year-old real estate

UPDATE, September 24, 2019, 5:30 p.m.: The seller of land to Related Companies and Oxford Properties for one of their Hudson Yards skyscrapers has scooped up at least six condominiums at another property in the megadevelopment. An entity with William A. Dalessandro as president dropped over $52 million for the “A” condos on the 75th through 80th floors at 15 Hudson Yards, property records filed this week show. The three-bedroom sponsor units each measure between

Another builder is going big in Gowanus. Avery Hall Investments has purchased a development site in the evolving Brooklyn neighborhood from EcoRise Development for $44.1 million, according to property records. The site is at 469 President Street, 473 President Street and 514 Union Street. EcoRise had tapped JLL to market it in March. The team included Brendan Maddigan, Stephen Palmese, Winfield Clifford, Michael Mazzara and Ethan Stanton. The site allows for almost 98,000 square feet

Every day, The Real Deal rounds up New York’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day, starting at 9 a.m. Please send any tips or deals to tips@therealdeal.com This page was last updated at 9 a.m. Video produced by Sabrina He Scammers sent out numerous phishing emails using Howard Lorber’s address. A Douglas Elliman source confirmed to Inman that multiple recipients had received scam

Compass‘ chief operating officer Maëlle Gavet is leaving the residential brokerage next month, according to sources familiar with the matter. Gavet’s exit is the most notable in a string of recent departures from the SoftBank-backed firm. In an email to agents Tuesday, CEO Robert Reffkin called her departure a “mutual decision.” “Maelle will be moving on to focus her attention on a new opportunity outside of Compass,” he wrote. “The company will not be hiring

The developers who converted the landmarked American International Building in the Financial District from offices to apartments and a hotel have refinanced the Art Deco tower with a large loan from Goldman Sachs. DTH Capital and Rose Associates secured $386 million to refinance the 66-story tower that now goes by the address of 70 Pine Street, brokers who negotiated the loan told The Real Deal. The floating-rate financing comes with a term of five years

UPDATED, Sept. 24, 2019, 5:04 p.m.: Adam Neumann stepped down Tuesday as WeWork’s CEO as the company moved to salvage a planned initial public offering — if not the company itself. The chief executive’s exit concludes talks that began in recent days between Neumann and his company’s investors and board members. The Wall Street Journal first reported the news. “In recent weeks, the scrutiny directed toward me has become a significant distraction, and I have

No Adam in We? Can it be? In the past month, the We Company has taken several steps to reduce CEO Adam Neumann’s hold on the firm he founded. It reached an agreement with Neumann to have him return a $5.9 million payment he received for the use of the “We” trademark. His wife can no longer pick his successor should he die or become incapacitated, and the company has also limited Neumann’s voting power.

On Tuesday, Sept. 24 at 2:00 p.m. (EST), subscribers can get an inside look at our latest coverage on foreign investments. Call-in number: +1-510-338-9438 Access code: 623 343 194 TRD’s senior content director, Jill Noonan, will talk with reporters Sylvia Varnham O’Regan and Kevin Sun about their recent coverage of foreign investments in the residential market and in the commercial market. Do you have questions about how foreign buyers are shaping the market? What would

When President Donald Trump announced in June that the United States would pull out of the Paris climate accord, New York developer Jonathan Rose sensed that something more than an environmental safety net was at stake. He saw retreating dollar signs. “Bottom line is, these are major economic opportunities,” he said, referring to technologies that promote energy efficiency, such as electric cars and solar energy. “We just ceded them to China.” Nearly 200 nations, including

In January, French investment bank Natixis agreed to provide a $95 million loan for 500 North Michigan Avenue, a 24-story office building on Chicago’s Magnificent Mile. The deal would be a relatively small notch in the belt for a commercial lender with increasing clout in major U.S. markets. But weeks later, the bank walked back its offer — a puzzling move in an industry where being able to deliver loans is crucial to reputation. Then

The Industry City development team agreed to five major concessions to satisfy Council Member Carlos Menchaca before the Sunset Park politician stalled the deal for a second time by demanding a sixth late last week. Industry City spokesperson Lisa Serbaniewicz said the industrial campus’ owners had “agreed to every request made by the Council Member, including supporting the removal of hotels, the establishment of a mechanism to ensure the provision of an irreducible amount of