The Real Deal New York

  • Libet Johnson lists Millbrook mansion for $28.5M

    It’s just the latest real estate play from the Johnson and Johnson heiress
    October 01, 2016 05:00PM TRD WEEKEND EDITION
    Lightning Tree Farm

    Lightning Tree Farm (image via Sloan Architects)

    It’s been a busy month for Johnson and Johnson heiress Elizabeth Ross “Libet” Johnson. After failing to find a buyer for her $55 million Upper East Side home, she decided a compromise was in order and relisted it as a $95,000 a month rental. [more]

  • Saddam Hussein’s former palace now a museum

    October 01, 2016 04:00PM TRD WEEKEND EDITION
    A former palace of Saddam Hussein

    A former palace of Saddam Hussein

    From Luxury Listings NYC: Saddam Hussein’s former palace in Basra has just been turned into an antiquities museum that opened this week. The museum will display rare antiquities, including coins and pottery that date to 400 B.C. (the city of Basra dates back to 687 A.D.). [more]

  • Just in time for Halloween, Sleepy Hollow homes

    In Sleepy Hollow, housing comes with a dose of legend
    October 01, 2016 03:00PM TRD WEEKEND EDITION
    Sleepy Hollow

    Sleepy Hollow

    Halloween is almost here, and if you’re house hunting, you might want to skip the five boroughs and consider Sleepy Hollow. [more]

  • Judge orders feuding Tribeca neighbors to close their blinds

    October 01, 2016 02:00PM TRD WEEKEND EDITION
     9 Murray Street

    9 Murray Street

    From Luxury Listings NYC: A judge in an ongoing lawsuit between two feuding Tribeca neighbors has a suggestion for both of them: Close your blinds.

    Richard Miele and Suellen Epstein are neighbors at the luxury loft building 9 Murray Street in Tribeca, and ever since Miele moved in 2014, the two have been arguing about the amount of light the other shines into their respective apartments. [more]

  • Inside TheRealDeal
  • From the archives: How Yuppies discovered Park Slope

    October 01, 2016 01:00PM By Philana Patterson
    TRD WEEKEND EDITION
    A row of Park Slope townhouses

    A row of Park Slope townhouses

    Today’s Park Slope, a neighborhood enclave for families and upscale ex-hipsters, began to take visible shape in the 1970s and 1980s, around the same time as the transformation of the Upper West Side and Soho. Manhattan refugees began to discover its brownstones and moved to the neighborhood in search of great deals on more space. Read the full story from May 2005 issue here. 

  • This historic video proves New Yorkers have always loved to jaywalk

    And something silly like a moving streetcar doesn’t slow them down
    October 01, 2016 12:00PM TRD WEEKEND EDITION

    e6865209e09d08f29baa7c46871dc099

    In Manhattan, it’s not uncommon to hear someone complaining about the way New Yorkers jaywalk. For pedestrians, traffic lights seem to be more of a suggestion than the rule. But next time a stickler for the rules pipes up, just show them this historic video from the city’s horse-and-carriage days and claim jaywalking as your heritage as a New Yorker. [more]

  • NYC theatre recommended for National Registers of Historic Places

    The Hudson Theatre is currently receiving a much deserved renovation
    October 01, 2016 11:00AM TRD WEEKEND EDITION
    The Hudson Theatre

    The Hudson Theatre

    Somewhat surprisingly, NYC doesn’t have too many buildings on the State and National Registers of Historic Places. However, the New York State Board of Historic Preservation is recommending that one city building be added to the list — the Hudson Theatre. [more]

  • Crazy pictures of micro-apartments around the world

    October 01, 2016 10:14AM By Business Insider
    TRD WEEKEND EDITION
    Image credit: Tyrone Siu

    Image credit: Tyrone Siu

    Humanity is increasingly moving into cities, but the earth isn’t getting any bigger. That means our apartments are getting smaller, and our living arrangements denser. Some people get roommates to avoid living in such small spaces. Others, due to poverty or personal obligations, have no choice but to accept their crowded circumstances. We don’t know how they do it, but somehow they make it work. [more]

  • The Carnegie Deli is closing its doors for good

    It has been open since 1937
    October 01, 2016 09:42AM TRD WEEKEND EDITION
    Carnegie Deli

    The Carnegie Deli

    From Luxury Listings NYC: The iconic Carnegie Deli on Seventh Avenue, which has been open since 1937, will shut its doors forever on December 31st. And for once, the reason for the institution’s closure has nothing to do with the landlord raising the rent. [more]

  • 100 West Kinsbridge in University Heights

    100 West Kingsbridge Road in the Bronx 

    Nursing home owner Leopold Friedman purchased three adjacent elder care facilities on New Jewish Home’s University Heights campus in the Bronx for $110 million, according to property records filed with the city Friday. [more]

  • Bruce Ratner makes multifamily bet with $24M BK rental

    Forest City CEO adds new Clinton Hill building to personal holdings
    September 30, 2016 05:25PM By Mark Maurer
    From left: Bruce Ratner, 105 Grand Avenue and Adam Verner

    From left: Bruce Ratner, 105 Grand Avenue in Clinton Hill and Adam Verner

    Bruce Ratner, CEO of Forest City Ratner Companies, picked up a six-story Clinton Hill rental building for $24 million as a personal investment, sources told The Real Deal.

    The 38,000-square-foot elevator building at 105 Grand Avenue opened in 2012. Brooklyn investor Yoel Gruber and partners developed it, but Adam Verner’s Springhouse Partners bought it for $16 million that year and ultimately leased it up. Four years later, Springhouse sold it. [more]

  • Empire State Development exec leaving for YMCA

    Joe Chan, who ran state agency's RE arm, will manage nonprofit's NYC building assets
    September 30, 2016 04:50PM
    Rendering of Moynihan Station (inset: Joe Chan)

    Rendering of Moynihan Station (inset: Joe Chan)

    Joe Chan, the head of the Empire State Development Corporation’s real estate division, is leaving for a position with the YMCA.

    Chan, who played a role in the Penn Station redevelopment among several state projects, will oversee the the development and expansion of the nonprofit’s 2 million square feet of real estate assets in the city.  [more]

  • Shrinkage: Total sellout on new condos $5.7B lower than ‘15

    Aggregate price of condos hitting the market in NYC dropped 34.4% year-over-year: TRData
    September 30, 2016 04:26PM By Will Parker
    Source: TRD analysis of NY State Attorney General condominium offering plan data

    Source: TRD analysis of NY State Attorney General condominium offering plan data (Costanza credit: NBC)

    Developers are finally taking off their rose-colored glasses. The target offering price of new condominiums approved for sale in New York City is down 34.4 percent year-over-year, despite only a slight drop in the number of offered apartments, according to a new analysis by The Real Deal of offering plans. The data shows just how much developers rolled back on ultra-luxury projects over the last year. [more]

  • WATCH: NYC real estate’s week in numbers

    A 2.4 percent drop in pending home sales, 110 "dangerous" Airbnb listings and more
    September 30, 2016 03:55PM By Alistair Gardiner

    week in renderings

    A $1.5 billion construction loan, a $6 million sale of a vacant lot in the East Village and a partnership that only lasted eight days — in real estate, it’s all about the numbers.

    To see the most important stats and figures from this past week, watch the video here.

  • Aby Rosen’s RFR buys partners out of 285 Madison for $334M

    85% stake makes RFR majority owner of 530K sf office building
    September 30, 2016 03:25PM By Mark Maurer
    Aby Rosen, 285 Madison Avenue and Mark Van Zandt

    From left: Aby Rosen, 285 Madison Avenue (credit RFR) and Mark Van Zandt

    UPDATED, 11:58 p.m., Sept. 30: Aby Rosen’s RFR Holding has bought the majority interest in 285 Madison Avenue from its partners, paying $334.1 million for an 85 percent stake, property records filed with the city Friday show. [more]

  • The Skyslide, an offbeat attraction at the U.S. Bank Tower, lets observation-deck guests slide from the 70th to the 69th floor.

    The Skyslide, an offbeat attraction at the U.S. Bank Tower, lets observation-deck guests slide from the 70th to the 69th floor.

    From the Southern California Market Report: When tourists envision Los Angeles, they typically imagine Venice Beach, Beverly Hills mansions and the iconic Hollywood sign. Few of them think of the Downtown Los Angeles skyline. But the developers of DTLA’s tallest buildings are working hard to change that, adding sky-high amenities that simultaneously raise their profiles and their bottom lines.

    The Harry Cobb-designed 1989 U.S. Bank Tower has a gleaming new 43,000-square-foot observation deck, dubbed Skyspace LA, with a first-class restaurant and a quirky amenity called the Skyslide. Since this attraction opened, in June 2016, visitors have been sliding from the building’s 70th to 69th floor, whooshing along a thick composite of Italian chemically tempered twisted glass and Chinese flat-tempered glass. On a recent afternoon visit, a reporter for The Real Deal took a ride on the Skyslide, traversing the single floor (smartphone video camera in hand) in a matter of seconds. [more]

  • Tavros Capital putting together $30M-plus LIC dev site

    Assemblage near Citigroup Building could reach 250K sf
    September 30, 2016 02:22PM By Rich Bockmann
    Tavros-Capital-Court-Square

    45-01 through 45-09 23rd Street in Long Island City

    Tavros Capital is working on assembling a large development site in Long Island City’s Court Square neighborhood that will come with a price tag of $30 million-plus when all is said and done.

    The Soho-based investment and development firm recently closed on a trio of properties on 23rd Street in the shadow of the Citigroup Building, and is negotiating to buy several other properties and air rights that would give the firm as much as 250,000 square feet of development rights. [more]

  • Clinton Hill church plans 16-story resi building next door

    The 119K sf property on Classon Avenue will have 142 units, community space
    September 30, 2016 01:50PM By Miriam Hall
    St. Mary’s Episcopal Church at 230 Classon Avenue in Church Clinton Hill

    St. Mary’s Episcopal Church at 230 Classon Avenue in Clinton Hill

    St. Mary’s Episcopal Church is planning a 16-story apartment building in Clinton Hill, according to permit application filed Friday with the city’s Department of Buildings.

    The 119,300-square-foot property at 230 Classon Avenue will hold 142 apartments and about 25,200 square feet of community space to be used by the historic church, the filing shows. A three-story, 4,800-square-foot rectory currently sits on the site, which is next door to the church itself. The church owns a 99-year ground lease.

    Father Gerald Keucher told The Real Deal that the church is developing the property in partnership with a developer he declined to identify. [more]

  • Chetrit Group files plans for 46-story apartment-hotel project in Hudson Yards

    Tower at 545 West 37th Street will hold 358 hotel rooms and 131 residential units
    September 30, 2016 01:23PM By Rich Bockmann
    541-545 West 37th Street and 540-548 West 38th Street and Joseph Chetrit (click to enlarge)

    541-545 West 37th Street and 540-548 West 38th Street and Joseph Chetrit
    (click to enlarge)

    Joseph Chetrit took another step toward developing a 46-story hotel and residential building at his Hudson Yards development site.

    The Chetrit Group filed plans Friday to build a 622-foot-tall, 373,275 square-foot tower at 545 West 37th Street, just east of 11th Avenue, according to permits filed with the city’s Department of Buildings.

    Floors nine through 27 will contain a hotel with 358 rooms, a business lounge and a premium lounge for guests, permits show. Above, floors 32 through 46 will boast 131 residential units spanning 269,688 square feet. [more]

  • NYC’s biggest real estate firms are “paranoid” about cybersecurity and excited by virtual reality: panelists

    Industry giants also say they're lukewarm to consumer-facing tech at Columbia forum on entrepreneurship
    September 30, 2016 12:50PM By Chava Gourarie

    From left: Marc Holliday, Denis Hickey, Robert Entin and Jamie von Klemperer (credit: Columbia Entrepreneurship)

    Real estate tech upstarts are focused on better tools for consumers, but New York’s graying veterans of the industry see cybersecurity, virtual reality and smart building technology as the key to maximizing the bottom line, speakers at a panel on entrepreneurship at Columbia University said Thursday.

    “Cybersecurity is number one for me,” said Marc Holliday, CEO of SL Green Realty who moderated one of the panels. “Is this a burning issue for your firms,” he asked the other panelists, “or am I just paranoid?”

    If he was paranoid, so were they, the other panelists, including Robert Entin, chief information officer at Vornado Realty Trust, assured him. [more]

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