The Real Deal New York

  • Eli Hamway buys famed Cobble Hill home of BookCourt

    The bookstore is closing after 35 years
    December 06, 2016 08:48PM By Kathryn Brenzel
    unnamed

    161-163 Court Street in Cobble Hill

    December will be the final chapter for a 35-year old Cobble Hill bookstore after Eastern Capital bought its home for $13.6 million.

    Eastern Capital, led by Michael Shamah and Eli Hamway, purchased 161-163 Court Street, currently owned by BookCourt, a bookstore that has occupied the space for 35 years. The bookstore occupies the 4,575-square-feet of retail on the ground floor in the two buildings. Four partially occupied apartments are on the buildings’ upper floors. [more]

  • Larry Silverstein to buy $34M penthouse at 30 Park Place

    Developer and his wife will move downtown this summer
    December 06, 2016 04:15PM
    Larry Silverstein and 30 Park Place

    Larry Silverstein and 30 Park Place

    Larry Silverstein knows where the young people hang out. [more]

  • Toll Brothers City Living division struggles in FY 2016

    Though overall company income rose, its urban sector revenues declined 18.5%
    December 06, 2016 03:52PM By E.B. Solomont
    110 Park Avenue and Doug Yearley

    1110 Park Avenue and Doug Yearley

    The super-luxury condo party in New York City is over. That was the message Toll Brothers CEO Doug Yearley had for investors on Tuesday’s fourth-quarter earnings call. [more]

  • Movers and shakers

    December 06, 2016 03:10PM By Marynia Kruk

    From the December issue: The New York Building Congress has named Carlo Scissura its new president and chief executive officer. Scissura, who will take over on Jan. 1, 2017, succeeds Richard Anderson, the leader of the trade group since 1994. Anderson will assume the title of president emeritus and will serve as a consultant. Scissura comes to NYBC from the Brooklyn Chamber of Commerce, where he served as president and chief executive.

    Robert Lawrence has joined the Singer & Bassuk Organization, the real estate finance brokerage and advisory intermediary, as an executive managing director. Lawrence comes to the firm from Guggenheim Commercial Real Estate Finance. [more]

  • Inside TheRealDeal
  • Shlomi Reuveni out at Town

    Elaine Diratz will now lead firm's new development division solo
    December 06, 2016 02:40PM By Katherine Clarke

    Elaine Diratz and Shlomi Reuveni

    Shlomi Reuveni, Town Residential’s managing director of new development, has left after two years at the firm.

    His departure comes less than two months after the brokerage named Elaine Diratz, an alumnus of Corcoran Sunshine and Extell Development, as co-managing director of new development.

    At the time, Town CEO Andrew Heiberger attributed the additional hire to growth in the brokerage’s new development pipeline, but sources told The Real Deal that Reuveni may have felt pushed out by the addition of Diratz. [more]

  • Douglas Elliman brokers using Secret Service as Trump Tower selling point

    Email blast describes security at president-elect's perch as “new amenity”
    December 06, 2016 02:30PM
    Members of the U.S. Secret Service outside of Trump Tower (Credit: Getty Images)

    Members of the U.S. Secret Service outside of Trump Tower (Credit: Getty Images)

    Some brokers swear they’d take a bullet for their clients. Others use the Secret Service’s willingness to do so as a selling point. [more]

  • RKF wants to be big in Japan

    Midtown-based retail brokerage opens Tokyo office
    December 06, 2016 01:50PM By Konrad Putzier
    Shibuya Crossing in Tokyo

    Shibuya Crossing in Tokyo

    RKF is opening its first overseas office in Tokyo to help bring in Japanese business, the Midtown-based retail brokerage announced Tuesday.

    The firm hired local leasing veteran Kaishu Okada to head the office as vice president.

    “With Okada’s extensive experience and deep knowledge of the business environment and government regulations in Japan, he will help us orchestrate and drive Japanese-based retail expansion in the U.S., creating valuable opportunities for many of Japan’s leading retail and restaurant brands,” RKF CEO Robert Futterman said in a statement. [more]

  • Bruce and Charles Ratner resign from board as Forest City gives up dual stock structure

    Family will no longer automatically control the REIT
    December 06, 2016 01:25PM
    Charles and Bruce Ratner

    Charles and Bruce Ratner

    Following pressure from an activist investor, Forest City Realty Trust today announced it would eliminate a dual-share structure that gave the Ratner family unchallenged voting control over the company.

    Simultaneously, Bruce and Charles Ratner announced they will resign from the real estate investment trust’s board at the end of the year. Bruce Ratner will continue to serve as executive chairman of Forest City Ratner, the trust’s New York division. [more]

  • Westbrook, Largo sell new W’burg rental the Berkley for $69M

    Trinity Place, Pacolet Milliken scoop up 95-unit complex on North 8th St.
    December 06, 2016 12:55PM By E.B. Solomont
    The Berkley at 223 North 8th Street in Williamsburg

    The Berkley at 223 North 8th Street in Williamsburg

    Westbrook Partners and Largo are cashing out on their development of the Berkley, a 95-unit Williamsburg rental property that opened earlier this year. [more]

  • Mastercard looks to expand Midtown South tech hub

    Payments processor looking for as much as 150K sf: sources
    December 06, 2016 12:20PM By Rich Bockmann
    114 Fifth Avenue and MasterCard's Tech Hub (credit: MasterCard)

    114 Fifth Avenue and MasterCard’s Tech Hub (credit: MasterCard)

    There are some things money can’t buy. A 150,000-square foot block of space in Midtown South just might be one of them. [more]

  • Axel Stawski’s daughter lists lavish UES apartment for $7M

    Naomi Altholz's father is billionaire developer behind Stawski Partners
    December 06, 2016 11:50AM By Isabel Schwab
    trd-big

    The living room at 450 East 83rd Street

    From Luxury Listings NYC: Though her father, billionaire developer Axel Stawski, may have made his fortune developing “small and stylish boutique buildings,” Naomi Altholz seems to have rather more elaborate tastes. Her lavish condo at 450 East 83rd Street just hit the market for $6.9 million, and based on the pictures, it seems that the heiress is not afraid to use color or the odd black chandelier in her decorating scheme. [more]

  • Everything you need to know about the ballot initiative that could kill development in LA

    TRD takes you behind the scenes in a 5-part series on the Neighborhood Integrity Initiative
    December 06, 2016 11:25AM By Hannah Miet
    Michael Weinstein speaking at the launch of "Love Condoms" at the House of Blues in Los Angeles on August 12, 2009. (MARK RALSTON/AFP/Getty Images)

    Michael Weinstein speaking at the launch of “Love Condoms” at the House of Blues in Los Angeles on August 12, 2009. (MARK RALSTON/AFP/Getty Images)

    From the Los Angeles website: Last week, The Real Deal ran a five-part series on the Neighborhood Integrity Initiative, the March ballot measure that seeks to halt most development in Los Angeles for a period of two years. In case you missed it, here’s a recap. [more]

  • Landmarks delays vote on Pearl Paint redevelopment

    Trans World Properties plans to convert Tribeca property into mixed-use buildings
    December 06, 2016 10:52AM
    Proposed plans for 310-308 Canal Street (credit: Landmarks Preservation Commission)

    Proposed plans for 310-308 Canal Street (credit: Landmarks Preservation Commission)

    Trans World Equities’ plans to redevelop one of Tribeca’s iconic Pearl Paint buildings have hit a snag. The Landmarks Preservation Commission held off on approval of the repositioning of the property — which falls within the Tribeca East Historic Preservation District — at a public hearing last week. [more]

  • Landlords accused of violating 421a rules would’ve paid $304M in property taxes this year

    Officials sent out warning notices to another 3,000 buildings
    December 06, 2016 10:10AM
    From left: Vicki Been, Bill de Blasio and Jacques Jiha

    From left: Vicki Been, Bill de Blasio and NYC Commissioner of Finance Jacques Jiha

    The latest batch of landlords accused of violating the terms of 421a would’ve paid $304 million in property taxes this year without the tax break, according to city officials. [more]

  • Andrew Farkas’ UES townhouse is in contract

    Island Capital founder listed the 10K sf house in June for $42.5M
    December 06, 2016 09:30AM By E.B. Solomont
    12 East 73rd Street (photo from corcoran.com) (inset: Andrew Farkas)

    12 East 73rd Street (photo from corcoran.com) (inset: Andrew Farkas)

    Billionaire real estate investor Andrew Farkas has found a buyer for his Upper East Side townhouse, six months after listing the five-story limestone home for $42.5 million. [more]

  • Crossix inks 28K sf lease at Westbrook’s 1375 Broadway

    The new space is 10K sf bigger than its current digs
    December 06, 2016 09:00AM
    From left: 1375 Broadway and Crossix CEO Asaf Evenhaim

    From left: 1375 Broadway and Crossix CEO Asaf Evenhaim

    A healthcare data analytics company just inked a lease for 28,000 square feet at Westbrook Partners’ 1375 Broadway.

    Crossix is ditching its current location at 1001 Sixth Avenue, where the company currently leases 18,000 square feet, the New York Post reported. The asking rent for the new space was in the mid-$60s per square foot. [more]

  • NYC’s 10 biggest office leases signed in November

    DC law firm Hogan Lovells took the most space last month in 206,720-square-foot deal
    December 06, 2016 08:34AM By Will Parker and Eda Kouch
    From left: Steve Immelt, 390 Madison,787 Eleventh Avenue and Bill Ackman

    From left: Steve Immelt, 390 Madison, 787 Eleventh Avenue (credit: 787 Eleventh Avenue) and Bill Ackman

    What the office market lacked in blockbuster transactions in November it made up for in tenant diversity, with everything from a millennial mommy blog to an affordable housing investor taking space in this month’s top 10 leases list. To see the full list of the top 10 leases in November, compiled from The Real Deal and CoStar Group reporting, click here.

  • Leonardo DiCaprio sells Greenwich condo at a $2M loss

    He paid $10M for the Greenwich Village unit in 2014
    December 06, 2016 08:03AM
    (inset: Leonardo DiCaprio in "The Revenant") (credit:

    66 East 11th Street in Greenwich Village (inset: Leonardo DiCaprio in “The Revenant”) (credit: Anonymous Content)

    He may be a great actor, but Leonardo DiCaprio doesn’t seem to be the shrewdest real estate investor. [more]

  • NRT’s love affair with Pam Liebman

    Struggling corporate giant eyes Corcoran chief for a bigger job, but she insists she's staying put
    December 06, 2016 07:30AM By Katherine Clarke
    Pam Liebman (Photo by Larry Ford)

    Pam Liebman (credit: Larry Ford)

    From the December issue: Barbara Corcoran made her name with the sale of her eponymous firm for about $70 million in 2001.

    As a 51-year-old former receptionist who started the firm with $1,000 gifted to her by an ex-boyfriend, Corcoran’s was the classic rags-to-riches story. [more]

  • Bob Knakal renegotiates Cushman contract to shorten it by nearly 2 years

    I-sales chair's five-year deal could instead end as early as Jan. 2018
    December 06, 2016 07:00AM By Mark Maurer
    knakal-white

    From left: Bob Knakal and Brett White

    Bob Knakal, who signed a five-year contract with Cushman & Wakefield after selling his eponymous brokerage to the firm, has renegotiated his contract and can potentially become a free agent in 2018, sources told The Real Deal.

    As Doug Harmon and Adam Spies were joining the firm in October, Knakal, chair of Cushman’s investment sales division in New York, worked out a deal to restructure his contract, according to sources familiar with the internal discussions who asked not to be identified. [more]

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