The Real Deal - New York Real Estate News

HFZ Capital Group is looking to sell the historic Shore Club hotel in South Beach, as the company’s financial and legal issues continue to pile up, The Real Deal has learned. The New York-based firm, led by Ziel Feldman, tapped Newmark to sell the oceanfront hotel where it once planned a luxury condo and hotel development, according to sources. HFZ, which has recently laid off and furloughed employees as it deals with lawsuits from lenders

When it comes to the Staten Island Ferris wheel, the only things going around and around these days are lawsuit filings. The developer of the failed project, known as New York Wheel Owner, filed a suit in New York State Supreme Court this week that alleges the project’s contractors are responsible for the wheel’s demise two years ago. It’s the latest in a string of lawsuits related to the project, which have piled up thanks

Home Depot has extended its lease in the Flatiron District in one of the biggest deals inked since the pandemic began. Under the new lease, the home improvement retailer will continue to occupy 28-40 West 23rd Street for around another 15 years, according to the Commercial Observer. The home improvement retailer initially moved into the 120,000 square feet space in 2004, and the new lease runs through the mid-2030s. “In a challenging retail environment, it

The famous windmill house outside Amagansett where Marilyn Monroe and Arthur Miller hid out from the press in 1957 is on the market. The 1830-built home at 64 Deep Lane is asking $11.5 million, according to listing in Realtor.com. The actual house was a real working windmill in a past life, and was converted to a home in the 1950s by the founder of the Fabergé perfume company, Samuel Rubin. It totals 1,300 square feet

Police broke up a 400-person gathering at a Brookhaven mansion late Sunday night, according to the New York Times. State guidelines currently limit the size of gatherings to 10 people to combat the spread of Covid-19. The Brookhaven party is one of the largest events in Suffolk County to violate those orders. Gov. Andrew Cuomo enacted the 10-person limit last month, but some sheriffs around New York state said they would not enforce it. Suffolk

The daughter of Oscar-winning actor and Hollywood great Gary Cooper slashed the price on her Southampton home, four months after it hit the market. Maria Cooper and her husband, pianist Byron Janis, listed the home at 208 Pond Lane in August for $15 million. It is now down to $13 million. Douglas Elliman’s Laur and Carl Nigro have the listing. The home has five bedrooms and spans 2,800 square feet. The land totals just 2

A lavish Manhattan townhouse owned by the so-called “Oprah of China” is hitting the market for $28 million. Yue-Sai Kan, a cosmetics entrepreneur and TV personality, bought the 8,500-square-foot home in 1989 and has renovated it multiple times, according to the Wall Street Journal. It’s located in the tony Sutton Square enclave, where roughly a dozen townhomes — including Kan’s — surround a private garden. Past residents have included former U.N. Secretaries-General Kofi Annan and

Note: These items are independently selected by our team. However, TRD may receive a commission when you purchase products through affiliate links. With Black Friday foot traffic down 48 percent, travel restrictions tightening and some lockdowns back in place, it may seem like the holiday season is canceled. But it doesn’t have to be all doom and gloom. Below, The Real Deal has a list of gifts that travel well even when you can’t. These

The Alabama Association of Realtors and the Georgia Association of Realtors are attempting to cancel the nationwide eviction ban. The ban, issued in September by the Centers for Disease Control and Prevention, prevents evictions through Dec. 31 for renters making no more than $99,000 this year, or up to $198,000 for couples. However, the National Association of Realtors and other housing groups say that such moratoriums cause “chaos” as they do not set aside funds

Hewlett Packard Enterprise Co. is moving its headquarters out of high-priced Silicon Valley to the Houston area. The company disclosed its plan to relocate in its fourth-quarter earnings following a year of losses, highlighting its need to lower costs, according to the Wall Street Journal. “I think what we are seeing here is a company that needs to seek cost savings wherever it can find them,” Charles King, president and principal analyst at Pund-IT Inc.,

As the homebuying competition mounts in New York area suburbs, condos are making their way into the mix. The number of single-family homes on the market has dwindled, and empty-nesters looking to downsize are considering apartments, pushing up interest, according to Bloomberg. “Affordability is a challenge, and with record prices being set, condo becomes a competitor again,” Jonathan Miller, president of appraiser Miller Samuel Inc., told the publication. In Greenwich, contracts to buy condos more

Why, in the midst of a pandemic, would a 25-member board in Indianapolis vote unanimously to expand a convention center, adding up to $155 million to the public debt? “We see convention tourism racing back in 2023,” Chris Gahl, senior vice president of Visit Indy, the nonprofit that markets the Indiana Convention Center and attractions such as the Indianapolis Motor Speedway, told the New York Times. “When the green flag drops, we’re going to be

Homebuyers celebrated Thanksgiving last week dreaming of new, pricier digs. An index tracking applications for loans to purchase homes surged last week by 9 percent, seasonally adjusted, from a week earlier, according to the Mortgage Bankers Association’s weekly survey. The MBA metric has been increasing for the past three weeks and last week’s average size for purchase loans hit a record high of $375,000. That loan size had not been seen at any time in

Kushner Companies just put 10 Baltimore multifamily properties on the market, a portfolio that the firm’s president believes could sell for $800 million. Kushner Companies president Laurent Morali said the company bought the properties nearly 10 years ago and is listing them because they reached the end of their investment time horizon. He said the decision to sell was part of an agreement with investment partners, whom he declined to name. “In the perfect world

The world was still feeling the aftershocks of America’s subprime mortgage crisis when Julien Haccoun landed his MBA and became a principal of his family office in South Florida. The country’s unemployment rate was stuck at about 9 percent, and the housing market had yet to recoup. Rather than returning to his native France after graduating in 2011, Haccoun moved into his family’s second home in Miami, where he witnessed hundreds of properties being sold

UPDATED, Nov. 19, 10:10 a.m.: Smoke billowed across northern Colorado in late October, during what is typically the end of the wildfire season. The Cameron Peak Fire had torn through nearly 500 structures, most of which were homes. In late September, California’s wildfires reached the Meadowood resort, a Napa Valley institution that was home to the award-winning Restaurant at Meadowood. The Glass Fire engulfed the eatery and other parts of the resort. It also scorched

Demand for single-family homes, even within New York City limits, continued to command housing markets both in and outside of the city last month. Contract activity and new inventory in Brooklyn and the surrounding suburbs continued to rise last month, while Manhattan lagged in pending home sales and new listings, according to Douglas Elliman’s monthly report. As contracts can take months — or even years, in the case of some new developments — to be