The Real Deal New York

  • Town going across the pond

    Brokerage to open first overseas branch in Central London; expanding network into China, France
    September 17, 2014 03:15PM By Hiten Samtani
    Lindsey Owen and the Central London skyline

    Lindsey Owen and the Central London skyline

    Goodbye bagels and Manhattans, hello crumpets and sherry. Town Residential will be opening its first international location in Central London, representatives for the firm told The Real Deal. [more]

  • Aby Rosen’s RFR is in contract to buy 190 Bowery

    Developer confirms deal for much sought-after home of photographer Jay Maisel
    September 17, 2014 02:50PM
    From left: 190 Bowery, Jay Maisel and Aby Rosen

    From left: 190 Bowery, Jay Maisel and Aby Rosen

    Aby Rosen has confirmed that RFR Realty is in contract to purchase the former Germania Bank building at 190 Bowery, the much sought-after home to a photographer. [more]

  • Wanted: Nominations for New York City’s best real estate firms

    The Real Deal will feature "Best Firms to Work For" in November issue
    September 17, 2014 02:30PM

    For our November issue, The Real Deal will be profiling the best commercial and residential brokerages to work for – focusing on what sets them apart from the rest of the pack.

    To do so, we want to hear from you!

    We’re looking for brokers to weigh in on what specific programs or benefits top firms offer. Using the subject line “Best NYC Firms,” please email residential tips to E.B. Solomont at eb@therealdeal.com and commercial tips to Hiten Samtani at hs@therealdeal.com. — TRD

  • Revamped Rainbow Room to reopen next month

    Tishman Speyer overhauled wraparound terrace, included tech upgrades
    September 17, 2014 02:10PM
    From left: Rob Speyer, Jerry Speyer and the Rainbow Room at 30 Rock

    From left: Rob Speyer, Jerry Speyer and the Rainbow Room at 30 Rock pre-renovation

    The iconic Rainbow Room event space, located on the 65th floor of 30 Rockefeller Plaza, is due to reopen Oct. 1. [more]

  • Inside TheRealDeal
  • Acuity Capital buys Hamilton Heights building for $33M

    100K sf rental site last sold in November as part of $45M portfolio
    September 17, 2014 01:45PM By Mark Maurer
    acuity

    From left: 3489-3499 Broadway in Hamilton Heights, Elliot Neumann and Ivan Hakimian

    UPDATED, 2:11 p.m., Sept. 17: Real estate investment firm Acuity Capital Partners, led by Elliot Neumann, acquired a 100,000-square-foot apartment building in Hamilton Heights for $32.5 million in an off-market deal, The Real Deal has learned. [more]

  • Robert De Niro renting 15 CPW condo for $125K per month

    Two-in-one, 6,000-square-foot unit has one of highest rents in the city
    September 17, 2014 01:20PM
    15-cpw

    15 Central Park West unit 35AB on Upper West Side (Inset: Robert De Niro)

    Robert De Niro recently moved into one of the priciest rental apartments in the city – a 6,000-square-foot condo at 15 Central Park West. How pricey? The Academy Award-winning actor will be paying $125,000 per month in rent. [more]

  • RXR Realty enters joint venture to bring offices to Pier 57

    Developer Youngwoo & Associates still plans to create affordable retail space on ground level
    September 17, 2014 12:55PM
    From left: Scott Rechler, Pier 57 rendering and Young Woo

    From left: Scott Rechler, Pier 57 rendering and Young Woo

    Scott Rechler’s RXR Realty has entered a joint venture with Youngwoo & Associates to operate offices at Pier 57, the West Side development originally conceived as a shopping complex dubbed SuperPier. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts from The Real Deal's Facebook page
    September 17, 2014 12:30PM

    1. Over one year, Clinton Hill building sees valuation jump $1M a month
    2. Here today, gone tomorrow: Old New York buildings that no longer exist
    3. PHOTOS: Toll Brothers releases renderings, floor plans for 1110 Park Ave

    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]

  • John Catsimatidis looks to sell Lexus showroom site

    HFF marketing Midtown West building as possible condo or hotel project
    September 17, 2014 12:10PM
    lexus

    From left: 823-825 11th Avenue, John Catsimatidis and Eric Michael Anton

    John Catsimatidis, former New York City mayoral candidate and CEO of the Red Apple Group, has put the six-story, mixed-use building in Midtown West that formerly housed a Lexus showroom on the market. [more]

  • NYC higher ed to invest nearly $10B in construction, upgrades

    Spending during five-year period through 2017 continues current pace
    September 17, 2014 11:40AM
    From left: Cornell Tech rendering and NYU College of Nursing at 433 First Avenue rendering

    From left: Cornell Tech rendering and NYU College of Nursing at 433 First Avenue rendering

    Colleges and universities in New York City are projected to spend nearly $10 billion on new construction and renovations during a five-year period, according to a new report from the New York Building Congress. [more]

  • Norway fund pushing to buy Blackstone’s $2.2B 1095 Sixth: source

    Deal for tower could be one of NYC’s largest ever; oil fund just acquired stake in 601 Lex
    September 17, 2014 11:15AM By Hiten Samtani
    From left: Norges' Yngve Slyngstad, 1095 Sixth Avenue and Blackstone's Jonathan Gray

    From left: Norges’ Yngve Slyngstad, 1095 Sixth Avenue and Blackstone’s Jonathan Gray

    UPDATED, 1:21 p.m., Sept. 17: Fresh off the acquisition of a 45 percent stake in Boston Properties’ 601 Lexington Avenue, the sovereign fund that manages Norway’s substantial oil wealth is making a play for Blackstone Group’s 1095 Sixth Avenue, according to a source familiar with the talks. A deal for the tower, expected to fetch up to $2.25 billion, would be the biggest single office asset sale in New York since the GM Building traded hands in 2008. [more]

  • Lululemon inks two corner deals in Soho

    Athletic-gear retailer to open its first men's store at 127 Prince Street
    September 17, 2014 11:00AM By Adam Pincus
    From left: 125 and 127 Prince Street, Soho, Manhattan and Lululemon CEO Laurent Potdevin

    From left: 125 and 127 Prince Street, Soho, Manhattan and Lululemon CEO Laurent Potdevin

    UPDATED: Sept. 17, 1:30 p.m.: Lululemon Althletica signed a pair of leases late last month on two corners facing each other at Prince and Wooster streets in Soho. One will be the athletic apparel retailer’s first store just for men. [more]

  • Hedge funder Chase Coleman’s savvy Zillow-Trulia bet

    The billionaire’s investment could be a harbinger of future real estate tech endeavors
    September 17, 2014 10:30AM By E.B. Solomont
    Chase Coleman

    Chase Coleman

    From the September issue: Months before Zillow and Trulia announced their $3.5 billion merger on July 28, New York City hedge-fund manager Charles P. Coleman III was betting big on online real estate listings.

    From Tiger Global Management’s Midtown office, on the 35th floor of 9 West 57th Street, Coleman, who goes by Chase, and his team of notoriously prescient partners gobbled up sizeable chunks of stock in both companies. [more]

  • Rabbi Pinto admits to bribing Israeli police officer: report

    Advisor to several major NYC real estate players takes plea deal, faces a year in prison
    September 17, 2014 10:00AM
    pinto

    Rabbi Yoshiyahu Yosef Pinto

    Rabbi Yoshiyahu Yosef Pinto — advisor to some of New York City’s major real estate players – has reportedly accepted a plea bargain in a bribery case being prosecuted in Israel. Under the agreement, Pinto will admit to bribing a senior Israeli police officer in 2012 to gain access to his police file.

    The Associated Press reported that Israeli prosecutors are seeking a one-year sentence for the rabbi. [more]

  • 1 Manhattan West

    1 Manhattan West in Hudson Yards

    Permit applications filed for 1 Manhattan West. Speed roommating is now a thing. 432 Park is everywhere. Read these stories and more after the jump.

  • Related bets big on California with $6.5B development

    Real estate powerhouse ramping up large scale developments on the West Coast
    September 17, 2014 09:00AM
    From left: Santa Clara, Calif. and William Witte

    From left: Santa Clara, Calif. and William Witte

    California, here we come.

    New York-based Related Companies — one of the biggest developers in both the city and the country — is planning a $6.5 billion project in Santa Clara, Calif. Related’s proposal — 8 million square feet of offices, retail space, hotels and apartments — will have to go through an environmental review, the Wall Street Journal reported. [more]

  • Shake Shack to open in Herald Square in 2015

    Burger chain will occupy 3,265 sf on corner of West 36th Street and Broadway
    September 17, 2014 08:30AM
    From left: 1333 Broadway, Shake Shack burgers and Danny Meyer

    From left: 1333 Broadway, Shake Shack burgers and Danny Meyer

    Those who grow hungry after shopping at Macy’s will soon have a new dining option: Shake Shack is opening a new locale about a block away. [more]

  • Hong Kong investor pays $272M for Midtown Sofitel

    Keck Seng Investments also purchased SpringHill Suites in July
    September 17, 2014 08:00AM
    From left: 45 West 44th Street and Accor Group chairman and CEO Sebastien Bazin

    From left: 45 West 44th Street and Accor Group chairman and CEO Sebastien Bazin

    The Sofitel hotel in Midtown is being sold to an Asian real estate investor for $272 million.

    A partnership composed of Accor Group, Goldman Sachs Group and GEM Realty Capital will sell the 398-room hotel at 45 West 44th Street to the Hong Kong-listed firm Keck Seng Investments, the Wall Street Journal reported. Goldman Sachs and GEM paid $255 million for a 75-percent stake in the Midtown hotel and another Sofitel property in Philadelphia in 2006, according to the newspaper. [more]

  • Most popular stories on The Real Deal

    September 17, 2014 07:30AM

    Current reader favorites:
    1. Chinese developer snags United Charities site for $128M
    2. 49 grand old New York buildings that no longer exist
    3. Clinton Hill building value jumps $1 million per month
    4. The Wrap: East River gondola envisioned, Ryan Serhant’s marriage proposal shuts down Times Square … and more
    5. Waterbridge in $100M-plus contract on Williamsburg’s North 3rd Street

  • Boston Properties sells 45% interest in 601 Lexington

    Norwegian bank to pay $1.5B for share of Midtown tower and two Boston buildings
    September 16, 2014 06:15PM
    Boston Properties' Mortimer Zuckerman and 601 Lexington Avenue

    Boston Properties’ Mortimer Zuckerman and 601 Lexington Avenue

    Norges Bank Investment Management, an arm of the central bank of Norway, has reached an agreement to purchase a 45 percent interest in 601 Lexington Avenue, along with equal shares in two Boston properties, from real estate investment trust Boston Properties for $1.5 billion in cash.

    Norges Bank is also picking up an equal interest share in Boston’s Atlantic Wharf Office Building and 100 Federal Street as part of the deal. Following the agreement, Norges Bank and Boston Properties will form a joint venture for each of the three properties, with the latter retaining property and leasing management. [more]

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