The Real Deal New York

  • Join 20,000-plus real estate pros on TRD’s new database

    Sign up for The Real Deal's real estate directory
    August 31, 2015 05:41PM
    The Real Deal's new real estate directory

    The Real Deal‘s new real estate directory

    Those navigating the New York City market now have fewer hoops to jump through when searching for a real estate professional, thanks to The Real Deal‘s newly-launched database.

    Powered by commercial mortgage brokerage Eastern Union, The Real Deal‘s new directory puts the name of brokers, appraisers, mortgage bankers and other real estate professionals all in one place.

    Click here to submit your information and browse other real estate professionals listed in the directory.

  • Related closes on Hudson Yards site for $30M

    Developer went into contract at 507-511 W. 33rd in 2012
    August 31, 2015 05:24PM By E.B. Solomont
    RelatedCos

    From left: 507-511 West 33rd Street and Jeff Blau

    The Related Cos. closed on another Hudson Yards site for $30 million, property records filed with the city Monday show.

    The site, located at 507-511 West 33rd Street, houses a five-story manufacturing building that measures just over 36,000 square feet. [more]

  • Show me the Monet: Transcon International negotiating for 140K sf SoBro facility

    Art warehouser seeks tax exemptions in bid to purchase city-owned property
    August 31, 2015 05:00PM By Rich Bockmann
    131 Walnut Avenue and Picasso's “Les Femme d'Alger”

    131 Walnut Avenue and Picasso’s “Les Femme d’Alger”

    One of the city’s top fine-art storage companies is looking to make itself a part of the permanent collection in the South Bronx.

    Transcon International – which specializes in storing and shipping works that belong to private collectors, galleries, museums and corporations – is in negotiations to purchase the nearly 140,000 square-foot Port Morris warehouse it leases from the non-profit SoBro development firm. [more]

  • Sean Ludwick held on $1M bond for role in fatal crash

    Douglas Elliman broker Paul Hansen, 53, died Sunday morning in Sag Harbor
    August 31, 2015 04:30PM
    From left: Paul Hansen and Sean Ludwick

    From left: Paul Hansen and Sean Ludwick

    BlackHouse Development’s Sean Ludwick was held on $1 million bond Monday for his role in a car accident in Sag Harbor on Sunday morning that killed Douglas Elliman broker Paul Hansen.

    Ludwick, 42, was arraigned in Southampton Town Justice Court in Hamptons Bay and charged with DWI and leaving the scene of a fatal accident, law enforcement officials told the New York Post. [more]

  • Inside TheRealDeal
  • Eastern Consolidated sues Waterbridge over Radegast deal

    Brokerage claims it is owed commission from $93M sale of W'burg site
    August 31, 2015 04:15PM By Konrad Putzier
    From left: Gabriel Saffioti, an aerial shot of 103-119 North 3rd Street and Nicole Rabinowitsch

    From left: Gabriel Saffioti, an aerial shot of 103-119 North 3rd Street in Williamsburg and Nicole Rabinowitsch

    Eastern Consolidated is suing Joel Schreiber’s Waterbridge Capital, claiming its agents are owed commission over the purchase of an assemblage of properties at 103 North 3rd Street in Williamsburg. The lawsuit adds yet another twist to the already lengthy saga of the Radegast Beer Hall site. [more]

  • neumannFbox

    Adam Neumann

    WeWork, a startup that leases office space to other startups, is now worth $10 billion, but an investor presentation obtained by The Information suggests the long-term financial situation of the company may be perilous.

    In the presentation, WeWork projects a 2018 operating profit of $942 million on $2.9 billion in revenue, a far cry from the $4.2 million in operating profit on $75 million in revenue it expected in 2014. [more]

  • SL Green, Vornado teamwork pays off at 280 Park Avenue

    REIT rivals' $150 million investment reaping dividends
    August 31, 2015 02:30PM
    280 Park Avenue in Midtown (inset, from left: Marc Holliday and Steven Roth)

    280 Park Avenue in Midtown (inset, from left: Marc Holliday and Steven Roth)

    They may be rivals as two of the city’s largest office landlords, but SL Green Realty and Vornado Realty Trust worked together to make the $150 million renovation of 280 Park Avenue pay off. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    August 31, 2015 02:00PM

    1. The Chinese super-rich are about to flood the U.S. real estate market
    2. Demand for condos at Plaza Hotel is pretty weak
    3. Bridgehampton estate is back, this time at $30M

    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]

  • Brunner’s Bed-Stuy rental deal complicated by suit

    Investor and his partner Mandel say seller “unjustifiably” claims they’re in default
    August 31, 2015 01:30PM By Mark Maurer
    Fischer Bed-Stuy

    From left: Karl Fischer and 1123 Myrtle Avenue in Bedford-Stuyvesant

    UPDATED, Aug. 31, 4:15 p.m.: A lawsuit threatens to disrupt the sale of a Bedford-Stuyvesant development site slated for 196 rental units.

    Joseph Brunner, Abe Mandel and Isaac Hager signed a contract late last year to pay $22.5 million for the site at 1101-1123 Myrtle Avenue, near Lewis Avenue. Hager, who is affiliated with Cornell Realty Management and North True Construction, had filed plans in December for a nine-story, 172,000-square-foot property to be designed by architect Karl Fischer. [more]

  • Empire State Building mooring mast gets new windows

    A total of 480 windows, some dating back to 1931, are being replaced
    August 31, 2015 01:00PM
    An inflatable King Kong hanging from the Empire State Building's mooring mast in 1983 (credit: Bettmann/CORBIS)

    An inflatable King Kong hanging from the Empire State Building’s mooring mast in 1983 (credit: Bettmann/CORBIS)

    The Empire State Buildings mooring mast, worn by time and King Kong attacks, is getting a makeover.

    All 480 windows in the 200-foot mast, above the iconic tower’s observation deck, are being swapped out, in one of the last stages of the buildings’ renovation.

    Workers prepare their gear in the hours before the observation deck’s 2 a.m. closing time. They work from 2 a.m. to 7 a.m., assuming winds stay below 25 miles an hour. They replace about eight panels per night. [more]

  • Naftali lands $104M loan for UWS condo project

    Maverick arranges financing for 18-story building at 219-223 West 77th St.
    August 31, 2015 12:30PM By Konrad Putzier
    From left: Miki Naftali, 219-223 West 77th Street and Adi Chugh

    From left: Miki Naftali (Credit: Chris Martin), 219-223 West 77th Street and Adi Chugh

    Miki Naftali’s the Naftali Group landed a $104 million construction loan that lets the developer move ahead with a 25-unit condominium project at 219-223 West 77th Street, The Real Deal has learned.  [more]

  • The week in luxury: A map of NYC’s priciest apartment sales

    An interactive look at where the biggest deals were struck, plus total overall sales and average prices for the week (click on numbers to see data)
    August 31, 2015 12:00PM

    CityRealty

    Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales. Click here to see this week’s version.

  • Murdered philanthropist’s UES co-op sells for $3.4M

    New Jersey gallerists buy three-bed apartment from Fischler estate
    August 31, 2015 11:30AM By Rey Mashayekhi
    45 East 85th Street on the Upper East Side (inset: Barbara Fischler)

    45 East 85th Street on the Upper East Side (inset: Barbara Fischler)

    The Upper East Side home of murdered philanthropist Barbara Weiden Schwartz Fischler sold for $3.4 million, according to property records filed with the city Monday. [more]

  • De Blasio’s affordable housing efforts sink in Spring Creek

    Mayor touted the East New York project during his mayoral run
    August 31, 2015 11:00AM
    From left: Mayor Bill de Blasio and Spring Creek Park in East New York

    From left: Mayor Bill de Blasio and Spring Creek Park in East New York

    It doesn’t matter if a unit is affordable if it doesn’t exist. [more]

  • 22 contracts signed at $4M and up: Olshan report

    Top contract was $20 million townhouse at 24 West 11th Street
    August 31, 2015 10:30AM
    OlshanRealty

    Clockwise from top left: 24 West 11th Street, 150 Charles, 443 Greenwich and 445 Lafayette

    “Steady if unspectacular” was Olshan Realty’s take on last week’s Manhattan luxury market, with 22 contracts signed at $4 million and up. [more]

  • Flushing Commons, rendering by Conway+Partners via the New York Times

    Flushing Commons, rendering by Conway+Partners via the New York Times

    Federal Reserve rate hike still likely. New renderings revealed for Flushing Commons. Mayor de Blasio shoring up support with City Council. Read these stories and more after the jump.

  • Fort Greene and Clinton Hill’s affordable housing boom

    New data shows 232 affordable units in the neighborhoods this year
    August 31, 2015 09:30AM

    From left: BAM South at 286 Ashland Place, and 551 Waverly Street with Beigel’s challah

    Mayor Bill de Blasio’s affordable housing push continues to mark modest victories. [more]

  • Gaia Real Estate: Billionaires aren’t wanted in our buildings

    The company is targeting middle-market buyers willing to pay $500K to $2M
    August 31, 2015 09:00AM

    Gaia Real Estate’s Danny Fishman

    Saudi, Chinese and Russian billionaires can look elsewhere — they’re not going to be courted at Gaia Real Estate’s residential buildings.

    The firm, which has purchased several buildings this year, is focusing its activity on buying and renovating mid-market condo buildings, trying avoid the risks of the ground-up luxury development boom sweeping the city [more]

  • Babe Ruth’s old UWS pad lists for $1.6M

    The Sultan of Swat lived there from 1929 to 1940
    August 31, 2015 08:30AM
    From left: Babe Ruth and

    From left: Babe Ruth and 345 West 88th Street on the Upper West Side

    Money can’t buy the Babe’s swing, or even his pitching arm, but his old apartment is yours for the taking. [more]

  • BlackHouse head Sean Ludwick charged in crash that killed Douglas Elliman broker

    The developer allegedly crashed his car in Sag Harbor early Sunday
    August 31, 2015 08:00AM

    Sean Ludwick

    BlackHouse Development co-founder Sean Ludwick was arrested and charged with DWI and leaving the scene of an accident for his alleged role in a fatal car wreck in Sag Harbor over the weekend.

    Citing police statements, multiple outlets reported that Ludwick was driving with local Douglas Elliman broker Paul Hansen when, around 2 a.m. Sunday, he lost control and crashed his Porsche into a utility pole, killing Hansen. [more]

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