The Real Deal New York

  • US may seize these properties owned by arrested FIFA officials

    Top soccer execs charged with corruption, conspiracy and racketeering
    May 27, 2015 07:24PM By Kyna Doles
    Jeffrey Webb, 2116 Adel Drive, GA, 808 Brickell Key Drive, FL and Jack Warner

    From left: Jeffrey Webb, 2116 Adel Drive, GA, 808 Brickell Key Drive, FL and Jack Warner

    Talk about a well-deserved penalty.

    U.S. prosecutors indicted 14 high-ranking FIFA officials and executives in Zurich Wednesday, and slapped them with a long list of charges including conspiracy, racketeering, and corruption.

    According to an indictment unsealed Wednesday, four of the men own thirteen properties across Florida and Georgia which were allegedly used in connection with the crimes. If convicted, the U.S. government will seek forfeiture of the properties. [more]

  • SL Green’s One Vanderbilt gets Council approval

    Vanderbilt Corridor rezoning also gets the go-ahead
    May 27, 2015 05:55PM
    Rendering of One Vanderbilt in East Midtown (credit: KPF)

    Rendering of One Vanderbilt in East Midtown (credit: KPF)

    The City Council approved plans for SL Green Realty’s One Vanderbilt, the 63-story, 1.6 million-square-foot office tower set to rise next to Grand Central Station.

    This was the final approval needed for the developer to officially move forward. City Planning approved the proposal in late March, and the City Council’s zoning subcommittee gave the thumbs up earlier this month, so the City Council’s approval was expected. [more]

  • For $250K a year, enjoy NYC’s largest private garden: VIDEO

    Mary-Kate Olsen among neighbors on Turtle Bay block responsible for the space
    May 27, 2015 05:45PM
    Turtle Bay Gardens Historic District

    Turtle Bay Gardens Historic District

    From the Luxury Listings NYC website: For those who don’t like sharing their parks with (too many) others, consider this townhouse at 238 East 49th Street, which provides access to the largest private garden in New York City.

    Said garden runs the full length of 49th Street between Second and Third avenues and is the joint responsibility of all neighbors on the block, including Mary-Kate Olsen and her fiancé Oliver Sarkozy, half-brother of the former president of France. [more]

  • SL Green looks to sell Tower 45 in Midtown

    40-story, 460K sf office building could sell for north of $350M
    May 27, 2015 05:20PM By Mark Maurer
    Tower 45 NYC

    From left: 120 West 45th Street in Midtown, Marc Holliday (credit: Steve Friedman) and Richard Baxter

    Hot on the heels of a $2.6 billion deal to acquire 11 Madison Avenue, SL Green Realty is looking to sell Tower 45, a Midtown office building at 120 West 45th Street, The Real Deal has learned. The real estate investment trust hopes to fetch north of $350 million for the 40-story tower, sources said. [more]

  • Inside TheRealDeal
  • Moinian raises $361M on Israeli bond market

    Offering the largest to date by U.S. real estate player on Tel Aviv exchange
    May 27, 2015 04:52PM By Rey Mashayekhi
    Joseph Moinian and 3 Columbus Circle

    Joseph Moinian and 3 Columbus Circle in Midtown

    Joseph Moinian’s the Moinian Group has closed a $361 million bond (1.4 billion shekels) issuance on the Tel Aviv Stock Exchange, the largest debt offering on the exchange to date by a U.S. real estate player.

    The issuance closed last week at an interest rate of 4.2 percent – one of the lowest ever secured by a U.S. company – and is backed by about 15 properties in the developer’s New York portfolio, including 3 Columbus Circle and 535-545 Fifth Avenue. [more]

  • Crown and Oxford pay $652M for rest of Olympic Tower base

    Partners now own the entire office-and-retail portion of the 52-story tower
    May 27, 2015 04:05PM
    641 Fifth Avenue in Midtown (inset: Haim Chera of Crown Acquisitions)

    641 Fifth Avenue in Midtown (inset: Haim Chera of Crown Acquisitions)

    The Chera family’s Crown Acquisitions and Oxford Properties Group now own the entire office and retail base of the Olympic Tower, after paying $651 million for the remaining 50 percent that was owned by Onassis Foundation-related entities. [more]

  • A look at what top NYC commercial firms pay their employees

    New website aggregates information on hiring, wages of foreign workers
    May 27, 2015 03:38PM By Konrad Putzier


    Commercial real estate brokerages like to disclose a lot of things: their biggest deals, their newest hires and photos from their posh events. One thing they always stay mum about is the wages they pay their employees. But thanks to a new tool for looking at federal immigration data, that veil of secrecy is showing some holes. [more]

  • Ohebshalom’s Empire Management bringing 181-key hotel to 250 Fifth Avenue

    NoMad project to combine landmarked structure with a new 23-story building
    May 27, 2015 03:05PM By Tess Hofmann
    Rendering of 250 Fifth Avenue (credit: Perkins Eastman)

    Rendering of 250 Fifth Avenue (credit: Perkins Eastman)

    UPDATED, May 27, 3:32 p.m.: Fred and Alex Ohebshalom’s Empire Management plans to bring a 23-story hotel to 250 Fifth Avenue in NoMad, The Real Deal has learned. [more]

  • intheirwords

    From the May issue: Tenants PAC’s Mike McKee discussed Gov. Cuomo’s vague comments about the June deadline for state action on rent regulation, Vornado Realty Trust CEO Steven Roth dishes on flipping houses and more of the month’s noteworthy quotes. [more]

  • Renderings, details unveiled for Witkoff’s supertall 1 Park Lane

    Project to be fourth-tallest resi tower, ninth-tallest building in NYC
    May 27, 2015 02:08PM
    1 Park Lane

    Rendering of 1 Park Lane at 36 Central Park South (credit: Witkoff via New York YIMBY)

    Renderings and additional details for Witkoff’s 1 Park Lane – its redevelopment of the Helmsley Park Lane Hotel at 36 Central Park South – are now out, with the building slated to stand 1,210 feet tall. [more]

  • The week in real estate market reports 

    A weekly feature bringing you the industry’s latest intel
    May 27, 2015 01:30PM By Kyna Doles
    credit: Cushman & Wakefield and CoStar Group

    (credit: Cushman & Wakefield and CoStar Group)

    The latest batch of reports from around the industry found that New York led the way in retail investment sales in 2014 and the average asking rent along East 57th Street is up 60 percent from fall of last year. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    May 27, 2015 01:05PM

    1. Here’s what Midtown’s skyline could look like in 2030 
    2. Here’s what Manhattan looks like from outer space
    3. Barclays Center is finally getting its green roof: VIDEO

    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]

  • Bel Air estate to ask a record-shattering $500M

    Spec home in Los Angeles will span 74,000 sf and include a casino and four pools
    May 27, 2015 12:35PM
    Rendering of Bel Air mansion (credit: McLean Design)

    Rendering of Bel Air mansion (credit: McLean Design)

    A Los Angeles-based developer is throwing market comps out the window with a spec home that will ask $500 million — more than triple the current $147 million record for a U.S. home sale. [more]

  • Midtown co-op board allegedly asked to interview buyer’s child

    Buyer at Tudor City building claims move was discriminatory
    May 27, 2015 12:05PM
    Woodstock Tower

    Joyce Kacin and the Woodstock Tower at 320 East 42nd Street

    Co-op boards can be notoriously picky about who they allow to buy units in their buildings, but one prospective buyer has claimed discriminatory practices after the board of a Tudor City building reportedly instructed her to bring her child to an interview.

    Publishing executive Joyce Kacin alleges that the co-op board of the Woodstock Tower, at 320 East 42nd Street in Murray Hill, made the “discriminatory” request that she bring her minor son to the co-op board interview, according to a complaint Kacin sent last year to state Attorney General Eric Schneiderman and Mayor Bill de Blasio. [more]

  • J. Crew chief’s Tribeca pad lowers ask by $5.5M

    Price of Franklin Street mansion is now $29.5M
    May 27, 2015 11:30AM
    140 Franklin Street in Tribeca (inset: Mickey Drexler)

    140 Franklin Street in Tribeca (inset: Mickey Drexler)

    The one-of-a-kind Tribeca apartment owned by J. Crew CEO Mickey Drexler dropped its asking price from $35 million to $29.5 million just one month after hitting the market. [more]

  • Author Rhonda Byrne's Montecito home

    Rhonda Byrne’s home in Montecito, Calif.

    A guide to Catskills bungalow communities. How much do you need to earn to buy a home in these 15 U.S. cities? Please, no birthday presents! Homes too cramped for kids’ toys. Read these stories and more after the jump.

  • Traditional fire escapes in New York City

    Classic New York City fire escapes

    From the May issue: The city Economic Development Corp. will take over the vacant Brooklyn Marine Terminal along the waterfront in Sunset Park, the classic New York City outdoor fire escape is disappearing, thanks to efforts to restore buildings and rethinking about the best way to save people from a burning building and more in this month’s government briefs. [more]

  • Spotted Pig owners to take 11,000 sf at 70 Pine

    Restaurant will span four floors and will include a 1,000-square-foot bar on the ground floor
    May 27, 2015 10:00AM
    From left: 70 Pine Street, the Spotted Pig and the Spotted Pig's hamburger

    From left: 70 Pine Street, the Spotted Pig and the Spotted Pig’s hamburger

    It’s official: Chargrilled burgers and chicken liver toast are coming to the top of 70 Pine Street. [more]

  • Crowdfunder Prodigy to buy Ring portfolio buildings for $100M

    MetroLoft paid Extell $76M for properties just six months ago
    May 27, 2015 09:30AM By E.B. Solomont

    From left: Rodrigo Nino, 114 East 25th Street, 331 Park Avenue South and Nathan Berman

    Real estate crowdfunding firm Prodigy Network is in contract to buy two former Ring portfolio buildings for $100 million, The Real Deal has learned. The deal comes less than six months after the Midtown South properties changed hands for a combined $76 million. [more]

  • Steven Wu breaks record with $21.5M buy on Staten Island

    Office property transaction among the biggest in the borough's history
    May 27, 2015 09:01AM
    From left: One Edgewater

    From left: One Edgewater Plaza in Staten Island and a rendering of the Staten Island Ferris Wheel

    Developer Steven Wu has bought a 268,000-square-foot office building on Staten Island for a record-breaking $21.5 million. [more]