The Real Deal - New York Real Estate News

Stop … Data Time: It’s the new development condo report for Brooklyn and Queens

Posted: 17 Oct 2019 02:30 PM PDT

New development condo report Brooklyn • Inventory contracted as developers filed fewer units than were purchased • Developers filed 15 plans with 90 units • The state approved 17 plans with 158 units valued at $198 million • Buyers purchased 133 units valued at $137 million Queens • Inventory expanded as developers filed more units than were purchased • Developers filed three plans with 41 units • The state approved one plan with 14 units

Thor Equities loses 545 Madison Avenue

Posted: 17 Oct 2019 02:00 PM PDT

Joe Sitt has officially left the building. Sitt’s Thor Equities was evicted from its ground lease at 545 Madison Avenue earlier this week, Crain’s reported. Marx Realty, owner of the land underneath the building, is now assuming control of the 140,000- square-foot building and planning to conduct a $10 million renovation. Marx president and CEO Craig Deitelzweig said he expects the office and retail space to be full leased by 2021. Marx has been trying

Ben Carson on how Opportunity Zones are unlike red and black ants: TRD Miami Showcase & Forum

Posted: 17 Oct 2019 01:30 PM PDT

When talking about federal Opportunity Zones, Secretary of Housing and Urban Development Ben Carson said you need to understand ants. And use them as a cautionary tale. On the whole, ants work well together and are “sophisticated” and “industrious,” said the former neurosurgeon, during prepared remarks at The Real Deal’s annual Showcase & Forum in Miami’s Mana Wynwood. But, he added, they don’t always get along. “There are black ants and there are red ants,”

32BJ expects fight with real estate industry over contract renewal

Posted: 17 Oct 2019 01:00 PM PDT

The union that represents office cleaners is gearing up for a fight with the real estate industry over its soon-to-expire contract. 32BJ SEIU launched its contract campaign for the city’s office cleaners on Thursday, speaking to a room of elected officials gathered at its Flatiron District headquarters. The union has 22,000 office cleaners in the city, across 1,300 buildings. Their four-year contract expires December 31, and bargaining officially starts Nov. 14. President Kyle Bragg, who