The Real Deal New York

  • City should upzone West 14th Street: OPINION

    New office construction financially viable without tax incentives around street's western terminus
    July 28, 2014 06:05PM
    From left: 837 Washington Street and 809

    From left: 837 Washington Street and 809

    The city should elevate West 14th Street to the status of other major Manhattan thoroughfares by upzoning the western portion of the road and revamping the Meatpacking District, writes New York YIMBY in an editorial. [more]

  • Never miss an item on TheRealDeal.com again

    Browse past magazines, blog posts with TRD Archives
    July 28, 2014 05:55PM

    covers

    Dig up your favorite content or browse for a story you may have missed by checking out The Real Deal’s archives section, located under the ‘Magazine’ tab in the top navigation bar.

    TRD’s Issue Archives houses every magazine published since 2003. Our Daily Archives provide a link-by-link rundown of every item featured on TheRealDeal.com, including posts from our daily blog, exclusives and breaking stories and other news from around the world of New York City real estate.

  • Winners, losers following Zillow’s $3.5B Trulia buy: OPINION

    Individual brokers stand to gain more listings exposure, other real estate sites may struggle
    July 28, 2014 05:35PM
    From left: Zillow, Trulia and Realtor.com

    From left: Zillow, Trulia and Realtor.com

    Now that Zillow officially came to an agreement to buy Trulia for $3.5 billion in stock, industry watchers are wondering what will become of the online listing giants’ remaining competition and how the partnership will affect brokers themselves. [more]

  • A forlorn corner of Ellis Island's abandoned south side

    A forlorn corner of Ellis Island’s abandoned south side

    Gov. Cuomo defends Moreland meltdown. Peeking through Ellis Island’s abandoned south side. De Blasios move in to Gracie Mansion. Read these stories and more after the jump.

  • Inside TheRealDeal
  • Carlos Slim’s ex-aide finds buyer for 15 CPW condos

    Apartments can be combined into 4K sf pad with building's biggest terrace
    July 28, 2014 04:50PM
    15-cpw

    15 Central Park West and Fernando Chico Pardo (inset)

    Investor Fernando Chico Pardo, a former long-time lieutenant of Mexican billionaire Carlos Slim, is in contract to sell two condominium units at the tony 15 Central Park West for a combined $29 million. [more]

  • Susan Lucci seeking nearly $20 million for Southampton estate

    Daytime actress's seven-bedroom home sits on 1.4 acres along the ocean
    July 28, 2014 04:25PM
    From left: Susan Lucci and Four Winds

    From left: Susan Lucci and Four Winds

    Soap star Susan Lucci is looking to sell her Southampton estate, dubbed Four Winds, for nearly $20 million. [more]

  • Hedge fund firm now has more than 100,000 sf at Edward Minskoff’s 101 Sixth

    Two Sigma Investments takes three more floors at Hudson Square property
    July 28, 2014 04:02PM By Hiten Samtani
    101 Sixth Avenue (Credit: CoStar Group) and Edward Minskoff

    101 Sixth Avenue (Credit: CoStar Group) and Edward Minskoff

    Hedge fund manager Two Sigma Investments is expanding at Edward Minskoff’s 101 Sixth Avenue in Hudson Square, The Real Deal has learned. Two Sigma is taking an additional 47,000 square feet at the property, after a 60,000-square-foot deal last year. [more]

  • LeFrak Organization buys 180 Broadway for $222M

    Landlord picked up interest in property from partnership between Jeff Sutton, SL Green
    July 28, 2014 03:55PM
    From left: 180 Broadway, Richard LeFrak and Marc Holliday

    From left: 180 Broadway, Richard LeFrak and Marc Holliday

    The LeFrak Organization has purchased a 24-story Pace University dormitory and retail property at 180 Broadway using proceeds from the sale of a 22-story office building in the Newport development in Jersey City. [more]

  • Metro Loft’s 443 Greenwich to house $53M penthouse

    53-unit development to include mix of two-, three- and four-bedroom units
    July 28, 2014 03:35PM
    From left: Exterior of 443 Greenwich Street and a rendering of a penthouse unit

    From left: Exterior of 443 Greenwich Street and rendering of a penthouse unit

    Metro Loft Management’s book bindery-turned-condos at 443 Greenwich Street in Tribeca will be crowned with a $53 million penthouse. [more]

  • Thor picks up $48M mixed-use property on UWS

    58-unit rental the latest of the firm’s recent building buys
    July 28, 2014 03:15PM
    Thor's Joseph Sitt and 150 West 82nd Street

    Thor’s Joseph Sitt and 150 West 82nd Street

    Joseph Sitt’s Thor Equities is in contract to purchase a 10-story Upper West Side residential rental building for $42 million. [more]

  • New York AG files to dismiss property tax suit

    Plaintiffs say current laws place unequal burden on black and Latino renters
    July 28, 2014 02:55PM
    Eric Schneiderman

    Eric Schneiderman

    The New York state Attorney General’s office and New York City Tax Department are seeking to dismiss a class action lawsuit that alleges city and state property tax laws are discriminatory against African Americans and Latinos.

    Plaintiffs filed the suit in February in a bid to overturn the property tax laws, which they say benefit owners of co-ops, condos and single-family homes and places an unequal tax burden on renters. A disproportionate number of New York City renters are black and Latino. [more]

  • Harlem’s Taystee Bakery redevelopment gets new renderings

    Planned 300,000-square-foot office hub has no signed tenants
    July 28, 2014 02:35PM
    taystee

    426-458 West 126th Street

    Janus Property Company and Monadnock Construction unveiled a more detailed look at its $135 million redevelopment of the former Taystee Cake Bakery in Harlem. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    July 28, 2014 02:15PM

    1. And there you have it: Zillow acquires Trulia for $3.5B in stock
    2. A look at Prospect Park South’s “Japanese House”
    3. Politicians vow to outlaw “poor doors”

    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]

  • Movin’ out: Billy Joel’s Sagaponack home in contract

    Four-bedroom beach house most recently asking $19.95M
    July 28, 2014 01:50PM
    Billy Joel and 9 Gibson Lane in Sagaponack

    Billy Joel and 9 Gibson Lane in Sagaponack

    After five years on the market, “Piano Man” Billy Joel has finally sold his Hamptons home in Sagaponack. [more]

  • SL Green adds Princeton Review, others at 110 E. 42nd

    Roughly 48K sf in recent lease deals signed at 18-story building
    July 28, 2014 01:25PM
    sl-green

    Howard Tenenbaum and 110 East 42nd Street

    The Princeton Review and three other tenants grabbed a total of more than 48,000 square feet at SL Green’s 18-story office building at 110 East 42nd Street in a recent batch of lease deals.

    Massachusetts-based test-prep company the Princeton Review signed for nearly 21,000 square feet on the seventh floor. British environmental consulting firm SLR Acquisition expanded its eighth-floor space to 17,900 square feet from 11,300. Philadelphia-based law firm Morgan Lewis & Brockius LLP took a five-year renewal of 14,370 square feet on the ninth floor. And the Metro North Commuter Railroad Company signed a new lease for 1,840 square feet in the building near Grand Central Terminal. [more]

  • Ad platform Yodle sets up HQ at Vornado’s 330 West 34th

    Following IPO filing, startup to take 85,000 sf at building
    July 28, 2014 12:58PM By Hiten Samtani
    Yodle CEO Court Cunningham and 330 West 34th Street

    Yodle CEO Court Cunningham and 330 West 34th Street

    Yodle, a Manhattan-based advertising engine for small businesses, is establishing its new headquarters at Vornado Realty Trust’s 330 West 34th Street, The Real Deal has learned. Ahead of an initial public offering expected to raise about $75 million, Yodle is taking just under 85,000 square feet at the 18-story, 688,881-square-foot building. [more]

  • Equinox buys remaining Millennium gyms for $110M

    Second-biggest acquisition for Related-owned gym leaves it with 73 locations across the globe
    July 28, 2014 12:45PM
    From left: NY Sports/Reebok on the Upper West Side and the interior of an Equinox gym

    From left: Reebok Sports Club/NY on the Upper West Side and the interior of an Equinox gym

    Equinox Fitness is expanding its upscale workout emporium. [more]

  • State calls off bidding process for Williamsburg Armory

    Renting out the 3.2-acre site as a movie set earned New York over $660,000 since 2012
    July 28, 2014 12:20PM
    From left: Williamsburg Armory, Amazing Spider-Man 2 and Noah

    From left: Williamsburg Armory, The Amazing Spider-Man 2 and Noah

    Governor Andrew Cuomo’s administration has ended a bidding process that could have turned the Williamsburg Armory into a school, retail space or housing complex. [more]

  • Extell’s design chief jumps to Urban Compass to head new development division

    Roy Kim’s resume includes One57 and Seattle Public Library
    July 28, 2014 11:55AM By Hiten Samtani
    From left: Gary Barnett and Roy Kim (Credit: Urban Compass)

    From left: Gary Barnett and Roy Kim (Credit: Urban Compass)

    Extell Development’s top design executive left Gary Barnett’s firm to join Urban Compass. Roy Kim, who worked on projects including One57 and the Carlton House, will build a new development team at the cash-rich real estate tech startup. [more]

  • Rechler Equity to develop 119K sf in Long Island trade zone

    Three industrial buildings to rise on 52-acre site
    July 28, 2014 11:30AM
    rechler

    Mitchell Rechler

    Plainview, N.Y.-based commercial developer Rechler Equity Partners plans to develop three parcels with a combined 119,000 square feet inside the Islip Foreign Trade Zone in Long Island’s Suffolk County.

    The land on the 52-acre trade zone in Islip is currently vacant. Rechler would construct a 54,000-square-foot building at 100 Trade Zone Drive; a 41,000-square-foot building at 2 Roebling Court and a 24,000-square-foot building at 101 Roebling Court. All properties would be one-story industrial structures. Rechler also owns a two-story industrial facility with some office space at 200 Trade Zone Drive. [more]

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