The Real Deal New York

  • Hamptons home sales jump from dismal first quarter in 2013

    Southampton leads the rebound; highest prices in Bridgehampton
    April 24, 2014 12:01AM By Julie Strickland
    Aerial view of the Hamptons

    Aerial view of the Hamptons

    Hamptons home sales returned to normal first-quarter levels in the first three months of 2014, rebounding from last year’s post-“fiscal cliff” slump, according to Douglas Elliman’s first-quarter Hamptons Sales Report. [more]

  • Unilever snags two floors atop Tribeca’s 99 Hudson Street

    Agreed-upon rent hits pricey $78 per square foot
    April 23, 2014 06:20PM
    Paul Amrich and 99 Hudson Street

    Paul Amrich and 99 Hudson Street

    Anglo-Dutch multinational consumer goods company Unilver has inked a deal for 30,000 square feet in JCM Holding’s 99 Hudson Street in Tribeca.

    The firm’s spread takes up the 16-story building’s top two floors, Crain’s reported. The space includes an outdoor roof deck, and the asking rent was $78 per square foot — one of the highest rates paid in the area. [more]

  • SL Green beats analysts’ expectations in Q1

    REIT reports $150 million in funds from operations
    April 23, 2014 06:00PM
    388-390 Greenwich Street and Marc Holliday

    388-390 Greenwich Street and Marc Holliday

    SL Green Realty today reported $150 million in funds from operations, or about $1.52 per share in the first quarter, surpassing analysts’ expectations of $1.37 per share. The REIT also reported first quarter revenues of $381.1 million, a year-over-year increase of nearly 41 percent from $360 million.

    The firm signed 75 office leases in its Manhattan portfolio for a total of 548,602 square feet, in line with CEO Marc Holliday’s goal of leasing about half a million square feet per quarter. [more]

  • Prominent property lawyer hit with ban for false filings

    Harold Gruber barred from representing condominium and coop developments, says AG
    April 23, 2014 05:46PM By David Jones
    From left: Eric Schneiderman and 161 East 110th Street

    From left: Eric Schneiderman and 161 East 110th Street

    New York Attorney General Eric Schneiderman announced that real estate lawyer Harold Gruber is permanently banned from representing condo or coop developments after an investigation found that he submitted at least nine false filings connected to the Mirada condo in Harlem. [more]

  • Inside TheRealDeal
  • Final stretch of the High Line at the Rail Yards

    Final stretch of the High Line at the Rail Yards (Credit: Field Condition)

    De Blasio proposes fireplace ban. Professionals flock to real estate careers amid market rebound. Toll Brothers’ Pierhouse emerges by Brooklyn Bridge Park. Read these stories and more after the jump.

  • Flatiron tower to boast “champagne glass” cantilever

    Continuum's skyscraper on East 22nd Street to stretch 60 stories, 777 feet
    April 23, 2014 05:10PM
    Renderings of 41 East 22nd Street

    Renderings of 41 East 22nd Street

    Continuum’s planned skyscraper at 41 East 22nd Street will stretch higher than neighbor One Madison, according to additional project details revealed today.

    The 60-story, 777-foot-tall tower, which has undergone a handful of revisions since the initial renderings were drawn up in November, will feature a cantilever stretching over the building’s western neighbors. The 81-unit property’s stone base, meanwhile, will house the building’s amenities. [more]

  • Two mixed-use Kips Bay properties hit market for $50M

    Mixed use buildings contain 55 apartments, 5 stores, future development potential
    April 23, 2014 04:46PM By Julie Strickland
    From left: Daniel Shapiro, 360-364 Third Avenue and 368 Third Avenue

    From left: Daniel Shapiro, 360-364 Third Avenue and 368 Third Avenue

    Two listings in Kips Bay with air rights galore are on the market for nearly $50 million. [more]

  • Sunshine State development roundup

    Another 1,000-foot tower proposed for Downtown Miami
    April 23, 2014 04:30PM By Eric Kalis
    The Raleigh Hotel

    The Raleigh Hotel

    From the April issue: In this month’s roundup of real estate news from the Sunshine State, The Real Deal checks out a mini-race that’s heating up Downtown to build Miami’s tallest skyscraper. Swire Properties is the latest developer to propose a high-rise building standing over 1,000 feet, while fashion icon Tommy Hilfiger has his sights set on South Beach to launch a new hospitality venture. Not to be outdone, billionaire fashion mogul Lawrence Stroll paid $13.5 million for a condo on ritzy Fisher Island near Miami Beach. See these items and more after the jump.

    For more South Florida real estate news and analysis, click here.

  • What $1M buys in housing markets around the world: VIDEO

    The price gets you a mere 161 square feet in Monaco
    April 23, 2014 04:10PM By Business Insider
    monaco

    Monaco (Credit: Shutterstock)

    When it comes to luxury real estate, a million dollars goes a lot farther in Dubai than it does in Monaco. [more]

  • April Showers Bring May’s Issue of Luxury Listings NYC

    Keep an eye out for the latest issue of The Real Deal’s sister publication, hitting doorsteps soon
    April 23, 2014 04:00PM

    LLNYC

    In our upcoming May/June issue, we take a look at what to expect at different price points in the luxury market (what does $5 million really buy you?), the latest tech gadgets for around the home, and some of the newest and poshest condo buildings. The “lifestyle” issue also includes a look inside the home of former “Real Housewives of New York” star Jill Zarin.

    Featuring an ideal blend of neighborhood real estate news and glossy images of the finest area homes, Luxury Listings NYC has the widest distribution of any publication in Manhattan, reaching more than 100,000 doorsteps.

    Click here to catch up on the current issue of Luxury Listings NYC. To subscribe, email subs@llnyc.com or call 1-855-703-9671. Subscriptions are free for Manhattan residents.

    To inquire about advertising opportunities with Luxury Listings NYC, please email advertising@llnyc.com.

  • Soho penthouse trades for nearly $27M

    Ex-art studio space measures 7,500 square feet, includes outdoor shower
    April 23, 2014 03:47PM
    From left: Leonard Steinberg, Herve Senequier, 383 West Broadway and Adam Modlin

    From left: Leonard Steinberg, Herve Senequier, 383 West Broadway and Adam Modlin

    The penthouse loft in a former Soho manufacturing space has changed hands for $26.58 million. [more]

  • LIVWRK inks $22M contract for Red Hook conversion: sources

    Bidding war said to boost sale above asking price
    April 23, 2014 03:42PM By Adam Pincus
    Lemma-Abehsera-160-Cohen

    From left: Aaron Lemma, Asher Abehsera, Ofer Cohen and 160 Van Brunt Street

    Midtown-based property investment firm LIVWRK Holdings signed a contract last week to pay $21.5 million for a two-story industrial property near the Brooklyn waterfront in Red Hook, sources told The Real Deal. [more]

  • Air rights sale could spring 50-story tower on Junior’s site

    Neighbor JPMorgan Chase reportedly mulling sale of unused development rights
    April 23, 2014 03:05PM
    From left: 386 Flatbush Avenue and 9 Dekalb Avenue

    From left: 386 Flatbush Avenue and 9 DeKalb Avenue

    A possible sale of the air rights on JPMorgan Chase’s downtown Brooklyn branch could pave the way for a 50-story tower atop famous cheesecake haven Junior’s. [more]

  • Lights out for ailing Cobble Hill hospital on May 23

    State to walk away before new owner of Long Island College Hospital gets operating certificate
    April 23, 2014 02:45PM
    From left: SUNY Downstate Medical Center at 450 Clarkson Avenue and LICH at 339 Hicks Street

    From left: SUNY Downstate Medical Center at 450 Clarkson Avenue and LICH at 339 Hicks Street

    The State University of New York, current owner of beleaguered Long Island College Hospital, is expected to shut off the lights at the facility for good on May 23. [more]

  • What’s hot on TRD Social right now

    April 23, 2014 02:20PM

    The most buzzworthy posts on The Real Deal’s Facebook page

    1. 1,700-unit Astoria Cove project gets ‘OK’ from NYC Planning Commission
    2. World Food Center: Brookfield to feature two floors of eateries, dining terraces and more
    3. The Port Authority does not belong in the real estate business: NYT op-ed
    4. Waking up the Wythe: a look at the transformation of the fast-changing Williamsburg stretch
    5. Affordable housing? Rents have surged 75 percent since 2000

    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]

  • JTRE buys retail condo at Victor Homes’ 241 Fifth Avenue

    Average asking rents in area nearly $200 per square foot
    April 23, 2014 02:00PM By Mark Maurer
    241-fifth

    From left: 241 Fifth Avenue, Jack Terzi, Yoav Oeslner and Glenn Tolchin

    Midtown-based developer and brokerage JTRE has scooped up the ground-floor retail condominium at 241 Fifth Avenue from Wall, N.J.-based homebuilder Victor Homes for $6.8 million, brokers told The Real Deal. [more]

  • Port Authority to delay vote on 3 WTC financing

    Proposal looks to raise government guarantee to $1.2 billion
    April 23, 2014 01:37PM
    From left: A rendering of 3 World Trade Center, Scott Rechler and Kenneth Lipper

    From left: A rendering of 3 World Trade Center, Scott Rechler and Kenneth Lipper

    The Port Authority of New York and New Jersey is set to delay by a month a vote on whether or not to pledge a further $1 billion for Silverstein Properties’ 3 World Trade Center tower in Lower Manhattan. Officials were to meet this afternoon to decide on the fate of the controversial proposal, which would see the authority raise its financing guarantee to $1.2 billion from the current $200 million. [more]

  • Nonprofit pursues affordable housing amid tenant complaints

    West Harlem Group Assistance sued numerous times for alleged conditions at its properties
    April 23, 2014 01:09PM
    From left: 2049 Fifth Avenue, 500 West 134th Street and recent development 25 West 128th Street

    From left: 2049 Fifth Avenue, 500 West 134th Street and recent development 25 West 128th Street

    Harlem-based nonprofit West Harlem Group Assistance says it wants to develop affordable housing — a claim current tenants in the organization’s 45-building residential network question. [more]

  • Carlton Group launches crowdfunding site for wealthy investors

    Minimum kick-in from participants: $1 million
    April 23, 2014 12:43PM
    kevin-swill

    From left: Kevin Swill and Howard Michaels

    Midtown-based real estate investment banking firm the Carlton Group launched a crowdfunding website today for accredited investors.

    The firm, which has access to about $10 billion in real estate deal flow every year, would co-invest its own funds in each transaction. The equity investment would range from $1 million to $20 million per investor. The size of the deals could run from $20 million to as much as $100 million, the firm said in a release. [more]

  • Bank of New York Mellon to sell New York headquarters

    Company management expects "to get a very strong bid" for One Wall Street property
    April 23, 2014 12:14PM
    One Wall Street

    One Wall Street

    Bank of New York Mellon is putting its New York City headquarters up for sale and mulling a move across the river to New Jersey. [more]

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