The Real Deal New York

  • Jordan Roth, son of Vornado CEO, buys condo at Related’s Superior Ink

    This is Roth's second purchase at the building
    July 25, 2016 06:19PM By Kathryn Brenzel
    From left: Richie H and Jordan Roth and the Superior Ink Condominiums (credit: Getty Images)

    From left: Richie Jackson and Jordan Roth and the Superior Ink Condominiums (credit: Getty Images)

    Jordan Roth, son of Vornado Realty Corp. CEO Steve Roth, has purchased a second condo unit in a building that is not owned by his father’s company. [more]

  • WeWork revamps broker referral program

    Co-working company now offers more fees, tracking tool
    July 25, 2016 05:41PM By Konrad Putzier
    WeWork space at 1 Little West 12th Street in Meatpacking (inset from top: Julia Davis and Francis Lobo)

    WeWork space at 1 Little West 12th Street in Meatpacking (inset from top: Julia Davis and Francis Lobo)

     

    WeWork changed its partnership program for office leasing brokers, offering additional fees and new tracking tools in a bid to win referrals. [more]

  • Brooklyn’s multifamily market mostly holds steady as deal volume drops off in other asset classes

    Investment sales declines seen in commercial properties and dev sites: Ariel Property Advisors
    July 25, 2016 05:10PM By Rich Bockmann
    Mutlifamily pricing indicators and maybe the Jehovah Witness' Building at 124 Columbia Heights in Downtown Brooklyn

    Mutlifamily pricing indicators and maybe the Jehovah Witness’ Building at 124 Columbia Heights in Downtown Brooklyn

    Buyers and sellers continued to ink multifamily deals in Brooklyn at a relatively steady pace during the first half of the year, while other assets like commercial properties and development sites increasingly sat on the shelf, according to Ariel Property Advisors’ mid-year investment sales report. [more]

  • Downtown Brooklyn Partnership kicks off search for new prez

    Nonprofit to start interviews next month
    July 25, 2016 04:00PM By Kathryn Brenzel

    1 Metro Tech Center in Downtown Brooklyn (inset from top: Tucker Reed and Laurel Brown)

    The Downtown Brooklyn Partnership has begun its search for a replacement president as Tucker Reed prepares to leave early next month. [more]

  • Inside TheRealDeal
  • Extell scores $140M construction loan for East Village project

    Wells Fargo provided the financing for 500 and 524 East 14th Street
    July 25, 2016 03:31PM By Katherine Clarke
    anf Gary Barnett

    Rendering of 500 East 14th Street in the East Village and Gary Barnett

    Gary Barnett’s Extell Development landed a $140 million construction loan for the development of two, seven-story mixed-use buildings at 500 and 524 East 14th Street. [more]

  • Follow The Real Deal Los Angeles on Instagram!

    @trdsocal is sharing snaps of L.A. new development, celebrity real estate and more
    July 25, 2016 03:13PM
    INSTALA

    Click to follow The Real Deal Los Angeles on Instagram!

    The Real Deal Los Angeles is now on Instagram! Our latest social media channel features snaps of new development around La La Land alongside the latest celebrity listings, giving you an insider’s look at what’s happening in L.A. real estate, and beyond.

    Have something to share with us? Send your photo to insta@therealdeal.com or tag your photos with #TRDLA and you could be featured on our Instagram feed.

    Click here to follow @trdsocal on Instagram. Happy sharing!

  • Home of Brooklyn Brewery, Brooklyn Bowl in contract for $37M

    The Williamsburg establishments are expected to be out by 2025
    July 25, 2016 02:30PM By Mark Maurer
    61 Wythe Ave in North Williamsburg, Brooklyn and inside at Brooklyn Bowl

    61-71 Wythe Avenue in North Williamsburg and inside at Brooklyn Bowl

    This is one deal that’s right up their alley.

    Atlas Capital Group is in contract to acquire the North Williamsburg building that is home to Brooklyn Bowl and the Brooklyn Brewery for $37.4 million, sources told The Real Deal. [more]

  • Town Residential’s Jason Karadus jumps to BHS

    Broker formerly led sales at Upper East Side new development the Charles
    July 25, 2016 02:01PM By Katherine Clarke
    From left: Hall Willkie, Jason Karadus, Andrew Heiberger and Joseph Sitt

    From left: Hall Willkie, Jason Karadus, Andrew Heiberger and Joseph Sitt

    Jason Karadus, one of Town Residential’s top-producing brokers, has left the firm amid speculation about a change in the company’s ownership.

    Karadus, who led sales at record-breaking new development the Charles on the Upper East Side, has moved to Brown Harris Stevens, where he will work out of the company’s office at 130 Fifth Avenue. [more]

  • CBRE wins assignment to lease 550 Madison: sources

    Team of Tighe, Gottlieb and Fiddle will bring 850K sf at Sony Building to market
    July 25, 2016 01:30PM By Rich Bockmann and Mark Maurer

    From left: Hutham Olayan, the Sony Building at 550 Madison Avenue and CBRE’s Mary Ann Tighe

    About three months after negotiating a blockbuster deal to buy the former Sony Building for $1.4 billion, Olayan America has tapped a team at CBRE to bring the building’s 850,000 square feet of office space to market, sources told The Real Deal.

    Save for a lease AT&T negotiated with Sony in 1992, this is the first time space in the building is being marketed to office tenants. [more]

  • 159370485

    10 Bond Street and Gigi Hadid (Photo credit: Eva Rinaldi via Wikipedia)

    From Luxury Listings NYC: Back in January, we reported that Gigi Hadid and Zayn Malik were spotted taking a tour of apartment 3E at 10 Bond Street, which at the time was the last available unit in the building. But the supermodel has likely picked up a different unit in the building. [more]

  • MTA to close L Train for 18 months in 2019

    Subway will run from W’burg to Canarsie during repairs; all Manhattan stops will be closed
    July 25, 2016 12:00PM
    The L Train

    The L Train

    In what officials say will be one of the biggest disruptions ever to the city’s transit system, the Metropolitan Transportation Authority plans to close a tunnel carrying the L train under the East River for 18 months starting in 2019.

    The move, expected to be announced Monday, has been in the works ever since the MTA decided to repair the tunnel that was seriously damaged by Hurricane Sandy. [more]

  • 2 North 6th (credit: Douglaston Development), the Ashland at 250 Ashland Place in Brooklyn, Rendering of 44-41 Purves Street in Long Island City

    2 North 6th (credit: Douglaston Development), the Ashland at 250 Ashland Place in Brooklyn, Rendering of 44-41 Purves Street in Long Island City

    A recent report claims that nearly 40,000 new market-rate apartments are coming to New York City in the next three years, but it’s unclear if the spike in supply will overwhelm or barely faze the market. [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)
    July 25, 2016 11:00AM

    cityrealty

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

  • Mercury rises and luxury market withers: Olshan

    15 contracts signed at $4M-plus, but days on market hits 333
    July 25, 2016 10:30AM
    From clockwise: 155 West 11th Street - 10A in Central Village, 530 Park Avenue - 18F on the Upper East Side, 252 East 57th Street - 52A on the Middle East side and 212 Fifth Avenue in Flatiron

    From clockwise: 155 West 11th Street – 10A in Central Village, 530 Park Avenue – 18F on the Upper East Side, 252 East 57th Street – 52A on the Middle East side and 212 Fifth Avenue in Flatiron

    With temperatures hitting Mars levels, Manhattan’s luxury market slid further during the third week of July with just 15 contracts signed on properties $4 million and up, according to Olshan Realty. [more]

  • Mayor Trump? Donald Jr. says maybe

    For now, he's focused on dad's campaign
    July 25, 2016 10:18AM
    New York City Hall and Donald Trump Jr.

    New York City Hall and Donald Trump Jr.

    The Donald may not be the only Trump to try his hand at political office.

    Donald Trump Jr. said he wouldn’t rule out running for New York City mayor after, of course, he finishes helping his father run for president, the New York Post reported. He reiterated to CNN’s “State of the Union” on Sunday that he’d “love” to take a crack at the mayorship. [more]

  • DOB issues record number of stop-work orders

    Figure outpacing even the number of permits issued for new construction
    July 25, 2016 09:43AM
    A construction site near the High Line in Manhattan

    A construction site near the High Line in Manhattan

    The city has issued stop-work orders at construction sites at a record pace this year following a series of serious accidents. [more]

  • Week in review: The Compass conundrum, I-sales limbo, WeWork woes continue … & more

    The industry news you need to know to start your week
    July 25, 2016 09:00AM By Hiten Samtani
    recap

    Clockwise, from top left: Adam Neumann of WeWork; Walker tower at 212 West 19th Street in Chelsea; Park Laurel Condominiums at 15 West 63rd Street;, Time Warner Center at 10 Columbus Circle; an illustration of Compass’ Robert Reffkin; and Donald Trump

    Not many real estate startups can get Mayor Michael Bloomberg to announce their launch. And fewer still can convince some of the smartest venture capitalists in the country that they’re worth betting on, again and again. [more]

  • Prep school leases 39K sf at Trump’s 40 Wall Street

    Quad Prep is subleasing from another school in the building
    July 25, 2016 08:40AM
    40 Wall Street in the Financial District and Donald Trump

    40 Wall Street in the Financial District and Donald Trump

    A private preparatory school for gifted children with social learning difficulties has signed a 10-year sublease at the Trump Organization’s 40 Wall Street.

    The Quad Preparatory School is subleasing nearly 39,000 square feet from the Green Ivy Schools, which also has a preschool and elementary school in the building, the Wall Street Journal reported. The school will take the entire fourth floor in the building — also known as 25 Pine Street — and have an entrance on Pine Street. [more]

  • Movable Ink takes 55K sf at Bryant Park tower

    Equity Office recently renovated the 9th floor at 5 Bryant Park
    July 25, 2016 08:05AM
    5 Bryant Park

    5 Bryant Park

    An email marketing firm has inked a 55,000-square-foot lease for an office overlooking Bryant Park. [more]

  • Ranking NYC’s 20 biggest resi landlords

    TRD explores how the largest property owners are reshaping the city’s rental market
    July 25, 2016 07:30AM By Will Parker
    From left to right: Stephen Ross of Related Companies, Jonathan Gray of Blackstone Group, Ruby Schron of Cammeby’s International Group, Richard LeFrak of LeFrak Organization and Douglas Eisenberg of A&E Real Estate Holdings

    From left to right: Stephen Ross of Related Companies, Jonathan Gray of Blackstone Group, Ruby Schron of Cammeby’s International, Richard LeFrak of LeFrak Organization and Douglas Eisenberg of A&E Real Estate Holdings

    From the July issue: With all of the trades, windfalls, setbacks and wildcards, New York City’s rental market can often resemble a big round of Monopoly. But in the real world, the wins and losses are far greater than what can be counted in multicolored cash.

    This month, The Real Deal pored through public documents gathered in April to come up with a first-ever, exclusive ranking of who owns the most rental apartments in New York City. What we discovered was that just 20 landlords hold more than 150,000 of the city’s approximately 2.2 million rental units. And those properties netted their owners more than $2 billion in annual income as recently as 2014, according to an analysis of New York City Department of Finance tax records. [more]

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