The Real Deal - New York Real Estate News

Real estate stocks’ comeback year — with exceptions

Posted: 30 Dec 2021 02:15 PM PST

It was a profitable year to invest in real estate stocks, unless you were betting on some newer public names at the intersection of property and technology. Stock traders who bet on veteran landlords at the nadir of the pandemic saw substantial returns in 2021, even in the hardest-hit segments of office, lodging and retail. While lower quality retail stocks continued to struggle, class A mall and shopping center landlords staged a comeback after a

RXR, LBA Logistics lead filing flurry with $123M for massive Gowanus industrial portfolio

Posted: 30 Dec 2021 02:00 PM PST

Several major filings hit city records just before the year comes to a close. RXR Realty and LBA Logistics make a splash on the Gowanus waterfront The largest transaction by far in terms of square footage came from a partnership between RXR Realty and LBA Logistics. The firms acquired more than 760,000 square feet of industrial space in Gowanus from Buckeye Partners, a Houston-based logistics company. The eight-building portfolio set them back $123 million, but

$30M home could be Upper West Side’s most expensive townhouse

Posted: 30 Dec 2021 01:15 PM PST

The buyer of a historic home on the Upper West Side could soon be the owner of the priciest townhouse in the neighborhood. A townhouse at 248 Central Park West asking $30 million went into contract this week, per Compass. If the sale closes, it would make the property the most expensive townhouse sold on the Upper West Side, according to appraisal firm Miller Samuel. The last time the home tried to sell at this

From IPOs to industry veteran exits: These are 2021’s biggest NYC brokerage stories

Posted: 30 Dec 2021 11:45 AM PST

In 2021, some of New York City’s biggest brokerages carefully eyed an even bigger stage. Compass, Side and Douglas Elliman decided it was time to go for a ride on the public side, with Compass getting first dibs with its IPO in April. The other two brokerages kept busy on the sidelines, with Side building its valuation past $2.5 billion and Douglas Elliman spinning off of parent company Vector Group. While Elliman was stepping out

Brooklyn homes worthy of Miranda Hobbes’ approval

Posted: 30 Dec 2021 11:00 AM PST

The internet is still atwitter over the Sex and the City reboot, And Just Like That. In the spirit of its mini-revival, there is a need to revisit one of the biggest question marks about SATC. No, we’re not talking about drama on the set, the on again/off again relationship between Carrie and Big (or even the accusations against the actor, Chris Noth, who plays him). We’re talking about Miranda Hobbes up and moving to

Austin has 500 new homes planned for area near Tesla

Posted: 30 Dec 2021 10:12 AM PST

Austin can’t get enough of Tesla, it seems. Developers of a master-planned community near the electric vehicle factory under construction submitted plans for 300 new apartments and 200 single-family homes to the city this month, according to the Austin Business Journal. Canadian company Brookfield Residential Properties wants to build the homes on vacant land in Easton Park, a 3,200-acre Southeast Austin planned community it’s developing around the Tesla compound and other new commercial developments. Civil

These 10 deals led the Hamptons market boom in 2021

Posted: 30 Dec 2021 09:30 AM PST

Keeping up with the biggest sales in the Hamptons is no easy feat. The area enjoyed a post-lockdown boom courtesy of the pandemic, as well-heeled New Yorkers fled the city. So many new buyers flocked to the area, in fact, that they poached future sales, depleting the supply of homes available. That, in turn, spurred bidding wars that drove prices to new heights. The top 10 deals amassed a grand total of $607 million, roughly