The Real Deal New York

  • Tribeca Holdings snaps up 710 Madison Avenue

    Five-story property home to Graff Diamonds
    April 15, 2014 06:30PM
    From left: Tribeca Holdings' Aidan Brooks and 710 Madison Avenue

    From left: Tribeca Holdings’ Aidan Brooks and 710 Madison Avenue

    London-based Tribeca Holdings picked up 710 Madison Avenue, home to Graff Diamonds, for $70 million. [more]

  • De Blasio hunts for pro soccer stadium site

    Administration reportedly backed out of previous deal over subsidy concerns
    April 15, 2014 06:10PM
    From left: Bill de Blasio, New York Yankees President Randy Levine, MLS Commissioner Don Garber and Manchester City chief executive Ferran Soriano

    From left: Bill de Blasio, Yankees’ Randy Levine, MLS’ Don Garber and Manchester City’s Ferran Soriano

    Mayor Bill de Blasio is gearing up to find New York City’s first pro-soccer team a permanent home. [more]

  • Exor CEO joins Cushman & Wakefield as board chair

    Fiat co-founder’s grandson also Italian carmaker’s chairman
    April 15, 2014 05:50PM
    John Elkann

    John Elkann

    John Elkann, the 38-year-old Agnelli family heir and Exor CEO, joined commercial brokerage Cushman & Wakefield as chairman of the firm’s Board of Directors Tuesday.

    Elkann follows Carlo Sant’Albano in the role. Sant’Albano also served as interim CEO after Glenn Rufrano’s departure last year, until Edward Forst was hired as president and CEO in December. He will now assume the operational role of International CEO at C&W, a newly-created position. Prior to joining C&W, Sant’Albano was CEO of Exor, which has been C&W’s controlling shareholder since 2007. [more]

  • Brooklyn landlords favored white tenants: suit

    Lawsuit alleges racial discrimination against black residents at East Flatbush buildings
    April 15, 2014 05:30PM

    housingTOP

    A new lawsuit charges the owners of two Brooklyn rental complexes with pushing out black tenants in an effort to bring in white residents.

    According to the suit, filed by tenants at complexes on Brooklyn Avenue and Hawthorne Street in East Flatbush, landlords Yeshaya Wasserman, Shay Wasserman and Yitzchok Rambod have ignored repair requests, offered cash buyouts and forced evictions since purchasing the buildings in 2009. White tenants who do not live in rent-controlled units, meanwhile, are not subjected to the same treatment, the plaintiffs allege. [more]

  • Inside TheRealDeal
  • Rendering of transit hub atrium

    Rendering of transit hub atrium

    Imagining a tubular Queens transport hub. How to park a Mustang on top of the Empire State Building. “Matilda” director sues UWS landlord for mice and maggots. Read these stories and more after the jump.

  • Kingsbridge Armory conversion eyes international investors

    Project chairman on EB-5 program: “That is definitely something we’re considering”
    April 15, 2014 04:50PM
    Kingsbridge Ice Center rendering

    Kingsbridge Ice Center rendering

    The developer of the Kingsbridge National Ice Center, which would turn the armory into one of the world’s largest indoor skating centers, may use the federal EB-5 program to pool funds from wealthy international lenders in exchange for putting them on a path to U.S. citizenship. [more]

  • Fake clients help developers boost sales in real world

    Gotham, Related among firms using fictional buyers and renters to zero in on key demographics
    April 15, 2014 04:30PM By Mark Maurer

    058 Fake buyers-renters se FINAL.indd

    From the April issue: David Picket admits he is no social scientist or raconteur, but the president of Gotham Organization and his team go to great lengths to paint a picture of the future inhabitants of their projects. [more]

  • Alex Rodriguez sells Miami Beach condo

    Yankee makes $500,000 profit on sale of Mei unit one year after buying it
    April 15, 2014 04:10PM
    Alex Rodriguez

    Alex Rodriguez

    From the South Florida site: Alex Rodriguez netted a profit of nearly $500,000 on the sale of his Miami Beach condo.

    The embattled New York Yankees slugger sold the Mei unit for about $2.6 million after paying $2.1 million for the 5875 Collins Avenue condo a year ago, the Wall Street Journal reported. He originally listed the 11th-floor unit with an asking price of $3.2 million in December 2013. A-Rod’s sister, One Sotheby’s International Realty broker Arlene Susy Dunand, handled the listing. [more]

  • “Real Housewife” lists $25K-per-month townhouse rental

    Move follows years of attempting to sell 4,500-square-foot pad
    April 15, 2014 03:48PM
    From left: Sonja Morgan and 162 East 63rd Street

    From left: Sonja Morgan and 162 East 63rd Street

    Sonja Morgan, “Real Housewives of New York” star and ex-wife of J.P. Morgan heir John Morgan, is renting out her Upper East Side townhouse after years of attempting to sell. [more]

  • Tax headaches hit AirBnB hosts

    Newly-proposed hotel tax could tack additional 14.7 percent charge onto Airbnb rentals
    April 15, 2014 03:20PM
    From left: Chief executive of AirBnB Brian Chesky and stock photo (Credit: Shutterstock)

    From left: Chief executive of AirBnB Brian Chesky and a stressed taxpayer (Credit: Shutterstock)

    Tax season is particularly vexing for freelancers — especially for the growing population of professional AirBnB landlords, according to a report. [more]

  • Horsey set find a home at Jed Walentas’ luxe Mercedes House

    Fashionable Far West Side apartment complex first in US to house stable inside
    April 15, 2014 03:07PM
    From left: Mercedes House and an NYPD horse

    From left: Mercedes House and an NYPD horse

    The opulent 32-story Mercedes House project on the Far West Side, mostly built for the well-off New Yorkers who inhabit it, is about to take on a whole new breed of residents. [more]

  • Bill for Long Island College Hospital redo could hit $1B: report

    Industry insiders put much higher price tag on project than consortium that won bidding
    April 15, 2014 02:40PM
    From left: Long Island College Hospital, a partner in Brooklyn Health Partners Merrel Schexnydre and

    From left: Long Island College Hospital, a partner in Brooklyn Health Partners Merrel Schexnydre and Stephen Palmese

    Real estate industry insiders suspect the redevelopment of the Long Island College Hospital could take more time — and a lot more money — than the project’s leaders estimate. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal’s Facebook page
    April 15, 2014 02:20PM

    1. Camden, N.J. dubbed the most dangerous ‘burb in the United States
    2. Renderings: NYU reveals new look for its nursing and dentistry schools
    3. We have takeoff- Expedia CEO sells co-op to “Jack Reacher” author for $9M
    4. A breakdown of the second-priciest office building transaction in Brooklyn’s history
    5. Four months after leasing launched in 2013, 51 Astor Place hadn’t signed one tenant

    Like The Real Deal on Facebook for breaking industry stories, links to quirkier pieces and lively conversation about important properties in New York and around the world. [TRD’s Facebook Page]

  • Homeless out as controversial shelter adds affordable housing

    Half of single-occupancy units in UWS buildings to be offered to low-income residents
    April 15, 2014 02:07PM
    A homeless city-dweller and 330 West 95th Street

    A homeless city-dweller and 330 West 95th Street

    The city is vacating roughly 200 homeless New Yorkers from a two-building emergency shelter on the Upper West Side, freeing up at least 100 affordable housing units slated for low-income residents, according to a report. [more]

  • Bazbaz’s Warren Lofts units sell out

    Last two penthouses entered contract this month for $6M and $7M
    April 15, 2014 01:40PM
    37-warren

    37 Warren Street

    All units at Bazbaz Development’s Tribeca condominium building 37 Warren Street have sold. [more]

  • SL Green pursues 1 Vanderbilt plan with de Blasio: sources

    Planned 65-story tower would dwarf nearby Chrysler Building
    April 15, 2014 01:20PM
    One Vanderbilt rendering and Stephen Green

    1 Vanderbilt rendering and Stephen Green

    Undeterred by the demise of Mayor Bloomberg’s Midtown East rezoning plan in November, developer SL Green is pushing forward with negotiations to bring its 65-story 1 Vanderbilt plan to fruition under the de Blasio administration.

    Unnamed sources told Capital New York that the developer is in talks with the city planning department about ways it could maneuver its planned 1.6 million-square-foot tower between 42nd and 43rd streets with or without a neighborhood-wide rezoning. [more]

  • Keller Williams taps Manhattan exec to run operation in Dubai

    Zhann Jochinke to lead firm's push in the Middle East
    April 15, 2014 12:56PM
    From left: Zhann Jochinke, Werner Burger and Piaras Moriarty

    From left: Zhann Jochinke, Werner Burger, Piaras Moriarty and Laguna Tower in Dubai

    Zhann Jochinke of Keller Williams is leaving the real estate firm’s Manhattan office to head up the company’s new outpost in Dubai. [more]

  • Bowery snags first tech office space

    Caspi Development in contract to buy 161 Bowery for nearly $13M
    April 15, 2014 12:25PM
    From left: Joshua Caspi and 161 Bowery

    From left: Joshua Caspi and 161 Bowery

    Westchester-based developer Caspi Development is in contract to purchase a seven-story office building at 161 Bowery. The firm intends to turn the property into the neighborhood’s first office space for modern technology tenants.

    Caspi will be pay $12.75 million for the 15,984-square-foot building between Broome and Delancey streets.

    Joshua Caspi, a principal with the firm, told Real Estate Weekly that the property is slated to be renovated into full-floor office lofts and ground-floor retail. [more]

  • Rivergate developer closed park during renovations

    City calls for reopening of Kips Bay public space currently used as garbage dump
    April 15, 2014 12:10PM
    rivergate

    401 East 34th Street

    The city’s Parks Department plans to reopen the Joseph Slifka Park, which developer UDR Rivergate shuttered while its Rivergate rental tower underwent renovations.

    For more than a year, the 23,700-square-foot Kips Bay park at 34th Street and First Avenue has been closed, as a result of the developer using it to dump garbage, city officials said. The park is now teeming with trash bins, piles of wood and metal, and garbage bags. The city said UDR Rivergate is responsible for cleaning the area so that the basketball courts and playground can be reopened. [more]

  • Tenants: Centurion booting us in “non-eviction” conversion

    New York-based company reportedly refusing to renew some leases, canceling existing ones
    April 15, 2014 12:00PM
    22 River Terrace and inset, principal of Centurion John Tashjian

    22 River Terrace and John Tashjian (inset)

    Tenants of a Battery Park City building that is amid a rental-to-condo conversion are saying their landlord is giving them the boot despite previously leading them to believe they could stay.

    Although building owner Centurion Real Estate Partners gave residents of the 324-unit tower at 22 River Terrace a plan mailed in January offering discounted prices for their homes, the New York-based company is now reportedly refusing to renew some leases and canceling existing ones. But the controversial move is legal as case law allows landlords to deny lease renewals to tenants while the attorney general reviews the plan pre-approval, according to the New York Post. [more]

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