The Real Deal New York

  • Palm Beach’s resi heat wave

    While higher home pricing means fewer investors in the market, more end users are buying
    November 29, 2015 05:00PM By Erik Bojnansky
    Florida East Coast’s West Palm Beach station will be home to 275 rental units

    Florida East Coast’s West Palm Beach station will be home to 275 rental units

    From the South Florida Market Report: Palm Beach County’s residential real estate sector is heating up, thanks in part to banks’ willingness to issue loans again after a reduction in the number of distressed properties in the area.

    The Realtors Association of the Palm Beaches reported that single-family homes were selling faster and at higher prices in this year’s second quarter compared with the same period in 2014. [more]

  • “25th worst” NYC landlord says Public Advocate Tish James didn’t do her research

    Owner Mark Tress says tenants haven't lived in 400 West 57th Street in over 6 years
    November 29, 2015 04:00PM
    The Windemere at 400 West 57th Street.

    The Windermere at 400 West 57th Street.

    The Public Advocate’s office has been criticized for what some have deemed a lackluster fact-checking effort before publishing its annual “worst landlords of NYC” list earlier this week. This probably won’t help.

    One of the landlords who appeared on the list — designed to shame landlords into making repairs — says his building is under renovation and he doesn’t have any unhappy tenants … because there aren’t any. [more]

  • Look inside Herzog & de Meuron’s new West Village condo

    Prices for units in the building range from $2.6 million to $25 million
    November 29, 2015 03:00PM
    Renderings of 160 Leroy

    Renderings of 160 Leroy

    The latest look at a new West Village condominium designed by Herzog & de Meuron shows sweeping views of downtown Manhattan, a swimming pool and a ground-floor courtyard. [more]

  • From left: The launch party was held under a canopy of vines at the McKittrick Hotel’s rooftop garden bar, Frederique van der Wal

    From left: The launch party was held under a canopy of vines at the McKittrick Hotel’s rooftop garden bar, Frederique van der Wal

    From Luxury Listings NYC: Under a canopy of vines and flowers at Gallow Green in Chelsea, the McKittrick Hotel’s rooftop garden bar, Frederique van der Wal, 48, announces the U.S. launch of her flower brand, Frederique’s Choice, to a VIP crowd that includes media executives, models such as Iman, and fashion designers, like previous LLNYC cover star Nicole Miller.

    “Flowers are in the blood of the Dutch,” van der Wal, a former supermodel who has posed for Victoria’s Secret, Vogue and Cosmopolitan, to name very few, says. “Growing up in Holland, flowers are part of our heritage.” [more]

  • Inside TheRealDeal
  • From the archives: A market-rate future for the Bronx?

    Development replaces demolition as borough stabilizes
    November 29, 2015 01:00PM By Alison Gregor

    The recent history of Bronx real estate is a tale as much about demolition as development, but the future looks like an era of change.

    A borough of stark contrasts, its northern section, which includes Riverdale, has always been ritzy and is now staving off large-scale development with restrictive zoning regulations. While the borough’s less expensive areas have traditionally served as the steady source of housing for much of the city’s working class, the South Bronx conjures up two principal images: Yankee Stadium and urban decay. Full of government-subsidized housing, the South Bronx is finally seeing the first tentative steps toward creation of market-rate condominiums. Read the full story from the October 2005 issue after the jump.

  • Clear skies for Miami-Dade commercial

    Vacancy rates remain low across across the area's office, retail and industrial markets
    November 29, 2015 12:00PM By Sean Stewart-Muniz
    108-112 CRE UPDATE-FINAL.indd

    Amancio Ortego, creator of the Zara retail chain, acquired an entire block on Lincoln Road for $370 million.

    From the South Florida Market Report: Analysts are prescribing a healthy dose of optimism for commercial real estate in Miami-Dade County, with factors like explosive job and population growth to thank for the ongoing strength of the markets across the board.

    The county is on track to blow past its peak of $6.8 billion in foreign investment recorded last year, with investors continuing to purchase trophy properties in the office and hotel sectors for hundreds of millions. [more]

  • This skyscraper will be stretched like chewing gum: VIDEO

    303 East. 44th St., designed by ODA, features gaps between floors that create private gardens
    November 29, 2015 11:00AM By Alistair Gardiner


    Have you ever seen a building being pulled apart from the inside? You’re about to.

    The latest renderings of 303 East 44th Street show a slender glass tower whose floors are separated by 16-foot gaps and supported by elegantly sculpted concrete beams. The effect is that the building looks like it is being slowly stretched, as if the floors were glued together or stuck together with gum. Click here to see how ODA New York’s Eran Chen does it.

  • Toll Brothers sells two starchitect-designed penthouses

    Units went north of $10M at 400 Park Ave. South and 55 West 17th Street
    November 29, 2015 10:00AM
    The penthouse at 400 Park Avenue South sold for $10 million. (Credit: Toll Brothers)

    The penthouse at 400 Park Avenue South sold for $10 million. (Credit: Toll Brothers)

    It’s been a pretty good few weeks for Toll Brothers and starchitects. A pair of penthouses in the developer’s buildings — designed by two of the biggest names in architecture — sold for more than $10 million in November. [more]

  • (inset: Nancy Novogrod)

    563 Park Avenue on the Upper East Side (inset: Nancy Novogrod)

    From Luxury Listings NYC: A recent listing by Stribling for a Park Avenue co-op selling for $4.75 million noted that the apartment was owned by a former editor-in-chief of a “major design magazine.” A quick look into the documents reveals that while the “design” part of that may be a tad exaggerated, the owner is none other than Nancy Novogrod, the editor-in-chief of Travel + Leisure magazine for twenty-one years. [more]

  • South Florida stargazing

    While Calvin Klein has put his home on the market, Serena and A-Rod have plunked down new roots
    November 28, 2015 05:00PM By Katherine Kallergis
    Poonam Khubani listed her penthouse at the swanky Miami Beach Edition for $27.5 million in September - See more at:

    Poonam Khubani listed her penthouse at the swanky Miami Beach Edition for $27.5 million in September

    From the South Florida Market Report: South Florida is a magnet for celebrities, catering to fashion designers, star athletes and international artists alike. Luxury homes in Miami Beach, Coconut Grove and Southwest Ranches have been among the recent hot spots for buying, selling and listing of real estate by celebs. The Real Deal took a look at what’s been trading among the A-listers. [more]

  • City orders tenants to vacate Williamsburg rental built by Menachem Stark

    Slain developer allegedly cut major corners during construction at 120 South 4th Street
    November 28, 2015 04:00PM

    054 Stark se FINAL.indd

    He’s gone, but certainly not forgotten. Roughly 50 tenants of a Williamsburg rental built by murdered developer Menachem Stark are out in the cold after the Department of Buildings plastered a notice to vacate on the door of 120 South 4th Street. [more]

  • ‘Passive’ Cornell Tech campus to aggressively cut energy costs

    The building method, a hit in Europe, can slash expenses by as much as 90%
    November 28, 2015 03:00PM
    Cornell's "passive buildings" at the tech campus on Roosevelt Island. (Credit: Handel Architects)

    Cornell’s “passive buildings” on Roosevelt Island. (Credit: Handel Architects)

    Students at Cornell Tech spend their days pushing the boundaries of science and technologies. Soon, some will spend their nights doing the same. [more]

  • Is $100M enough to preserve Pier 40?

    Downtown residents speak out at City Planning hearing
    November 28, 2015 02:00PM
    Pier 40 in Lower Manhattan

    Pier 40 in Lower Manhattan

    Last, month Westbrook Partners and Atlas Capital Group agreed to buy 250,000 square feet of air rights at the dilapidated Pier 40 at Hudson River Park, with the $100 million price earmarked for repairs at the facility. But this week, locals expressed skepticism that it would be enough. [more]

  • From the archives: Entrepreneurs rush into NYC real estate market

    Social media sites, data collection firms among new start-ups launched
    November 28, 2015 01:00PM By Candace Taylor

    Longtime friends Carastina DuBrovin, a former agent at Brown Harris Stevens, and Jennifer Kilmurray started Staunton DuBrovin in the fall to cater to wealthy pied-à-terre owners.

    Citi Habitats founder Andrew Heiberger’s well-funded new brokerage, Town Residential, made a splash when it debuted late last year. But the brokerage is far from the only new business in the city. The start of 2011 ushered in a flurry of new start-ups, many with innovative new business models related to New York City real estate.

    Ironically, many of these models don’t involve actually doing deals. With prices down and fewer sales, entrepreneurs are looking for other ways to profit from the business of selling property.

  • Betting on the Bronx: VIDEO

    Investors are flooding into the borough
    November 28, 2015 12:00PM By E.B. Solomont


    The Bronx, which has long fought its image of a borough besotted by arson, poverty and urban decay, is now a hot commodity among the same investors and developers who overlooked it for years. Click here for a look at The Real Deal’s recent visit to the borough, which is on track to see a record 8,000 new residential units hit the market this year.

  • Blinded by the light: UES diners, neighbors upset at Anbau’s late night construction

    Neighbors question whether DOB should have issued after-hours work permits
    November 28, 2015 11:00AM
    Anbau Enterprise's "Citizen360" at 360 E. 89th St. (Credit: SHoP Architects)

    Anbau Enterprise’s “Citizen360” at 360 E. 89th St. (Credit: SHoP Architects)

    If you’re at Cavatappo on the Upper East Side, do try the duck ragu. But do not sit at the table near the window! You’ll likely need a side of visors, thanks to flood lights beaming in from a development site across the street.

    Light and sound from the construction site holding Anbau Enterprise’s 34-story luxury tower on 89th Street has UES restaurant owners and neighbors calling on the Department of Buildings to reconsider its policy on issuing after-hours work permits. [more]

  • donald trump illustration president 2016_make america great again_speech thumb

    Donald Trump (credit: Mike Nudelman/Business Insider)

    Real-estate tycoon Donald Trump has a decidedly Trump-like approach to the give-and-take of deal-making.

    “It’s give-and-take,” the Republican presidential front-runner told Business Insider.

    He then immediately added: “But it’s gotta be mostly take. Because you can’t give. You gotta mostly take.” [more]

  • Old Westbury Gardens in Westbury (the Phipps Mansion)

    Old Westbury Gardens in Westbury, NY (the Phipps Mansion)

    From Luxury Listings NYC: Before there was a billionaire’s row on 57th Street, there was Long Island’s Gold Coast. At the height of the Gilded Age (and in the following decades), familiar names like the Vanderbilts, Roosevelts, Whitneys, Charles Pratt, J. P. Morgan and F. W. Woolworth, to name a few, built stately mansions reminiscent of English country homes on Long Island’s North Shore.

    Thankfully, many of those homes still stand, and they remain arguably the most splendid homes surrounding New York City — one is even on the market for a cool $100 million. Here are a few of the best specimens. [more]

  • Nate Berkus, Jeremiah Brent list Village penthouse for $10.5M

    The 2,800 sf duplex co-op unit features two terraces and a massive, windowed walk-in closet
    November 27, 2015 04:00PM
    39 Fifth Avenue (inset: Nate Berkus)

    39 Fifth Avenue (inset: Nate Berkus)

    Interior designers Nate Berkus and Jeremiah Brent are listing their duplex penthouse, but, sadly, they aren’t including the furniture. [more]

  • Klein Group closes first Israeli bond issuance, while Joel Gluck taps market again

    Retail landlord and Brooklyn developer targeting over $115M in funds from Tel Aviv debt offerings
    November 27, 2015 03:00PM By Rey Mashayekhi
    Tel Aviv Stock Exchange

    The Tel Aviv Stock Exchange

    Two more New York-based real estate players successfully issued bonds on the Tel Aviv Stock Exchange, with retail landlord the Klein Group securing roughly $55 million in its first bond offering and Joel Gluck’s Spencer Equity Group tapping the market once again for more than $50 million.

    Israeli institutional investors responded enthusiastically to both debt offerings, leading both companies to up their respective issuances, according to sources with knowledge of both deals. [more]