The Real Deal New York

  • 30 Hudson

    Rendering of 30 Hudson Yards (Kohn Pederson Fox Associates)

    The Related Companies filed plans today for what would be the second-largest buildings in Manhattan, set to be constructed at 500 West 33rd Street in Hudson Yards, information from the city’s Department of Buildings shows.

    The developer had originally announced plans to build 30 Hudson Yards much taller at 1,227 feet high and with less bulk, at just 2.6 million square feet. The new plans call for a 680-foot-tall structure with an eye-popping 3.4 million square feet, at the corner of 10th Avenue and 33rd Street. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    July 22, 2014 01:10PM

    1. Urban Compass raises $40M from Salesforce CEO, others
    2. Manhattan’s office building values near pre-crash levels
    3. Yair Levy gets defiant

    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]

  • Tenants booted from illegal East Williamsburg artist lofts

    Department of Buildings says studios are "imminently perilous to life"
    July 22, 2014 12:45PM
    248 and 255 McKibbin Street

    248 and 255 McKibbin Street

    The dream of occupying the post-industrial McKibbin Lofts just ended for some East Williamsburg residents after the Department of Buildings deemed basement quarters at the notorious building “imminently perilous to life.”

    The agency has issued a partial vacate order for cellar space at 255 McKibbin, citing a variety of violations in illegally converted artist studios. The infractions include unapproved installation of gas lines and bathrooms and inadequate exits, according to city records filed last week. [more]

  • Ex-Hudson Companies exec plans Bronx affordable housing

    10-story building to hold 92 apartments intended for homeless veterans and young adults
    July 22, 2014 12:20PM
    waltonave

    2065 Walton Avenue in the Bronx

    Developer Alan Bell, formerly a principal with Hudson Companies, and supportive-housing builder Jericho Project have teamed up to construct a 10-story affordable-housing building in the West Bronx. [more]

  • Inside TheRealDeal
  • Upstate casinos eye tax break to compete with NYC-area rival

    Gaming venue in Orange County would keep gamblers from going north, they contend
    July 22, 2014 11:55AM
    From left: Michael Treanor and Nevele Casino rendering

    From left: Michael Treanor and Nevele Casino rendering

    At least three casino developers are seeking hundreds of millions of dollars in property tax breaks for upstate gaming venues, in part because the incentives will help them compete with a casino project that would be located about 45 minutes from New York City. [more]

  • Rentals in demand: Searches up in pricier areas

    TRD's weekly look at the most searched-for apartments
    July 22, 2014 11:30AM

    Rentals-in-demand

    Despite surges in popularity for two- and three-bedroom rental apartments in Manhattan over the summer, one-bedrooms had the most leads last week, with 38 percent, according to apartment listings website Zumper.

    One-bedrooms had 38 percent of the leads and a median inquiry of $2,695 per month. Studios and two-bedrooms tied with 23 percent of the leads. Three-bedroom rentals were dead last with 16 percent. The median inquiry budget increased to $3,000, which reflects more searches in higher-priced areas, according to Zumper. The priciest inquiry was for an Upper East Side apartment renting for $10,000 per month. [more]

  • Upper East Side eateries make way for new development

    Icon Realty Management bought six buildings that will likely be demolished
    July 22, 2014 11:00AM
    From left: Johnny Foxes, Nancy Lee's Pig Heaven and Cascabel eatery on Second Avenue between 80th and 81st streets

    From left: Johnny Foxes, Nancy Lee’s Pig Heaven and Cascabel eatery on Second Avenue between 80th and 81st streets

    Multiple business on the Upper East Side are closing to make way for a new development. [more]

  • At the desk of: David Von Spreckelsen

    Toll Brothers president talks World Cup, his Fidel Castro photo and the firm's $1B in projects
    July 22, 2014 10:30AM By Julie Strickland
    David Von Spreckelsen

    David Von Spreckelsen

    From the July issue: David Von Spreckelsen, the president of Toll Brothers City Living, moved to New York City in 1985 to take a job as an assistant buyer at Lord & Taylor. The Pennsylvania native and University of Richmond grad then went back to school to get an MBA from Columbia University and later a degree in urban planning. In 1993, he joined the city’s Economic Development Corporation, where he worked with big-named real estate players like Donald Trump and Tishman Speyer. [more]

  • Mayor close to naming new Standards and Appeals chair

    Attorney Margery Perlmutter to get the position; currently serves on Landmarks commission
    July 22, 2014 10:00AM
    From left: Margery Perlmutter and Bill de Blasio

    From left: Margery Perlmutter and Bill de Blasio

    Mayor Bill de Blasio is reportedly on the verge of naming Margery Perlmutter to become the new chairperson of the Board of Standards and Appeals.

    Perlmutter is a partner at law and lobbying firm Bryan Cave. She also serves on the Landmarks Preservation Commission. Before joining Bryan Cave, Perlmutter was a managing partner at a private architecture firm for 15 years. [more]

  • The Greenwood Cemetery

    The Greenwood Cemetery

    Greenwood Cemetery: this is where New York’s rich and powerful are buried. High rents in Chinatown are pushing out tenants.  Quite the week for Thomas Friedman sings the praises of Airbnb. Read these stories and more after the jump.

  • Harry Macklowe and clothier Eliot Rabin square off in court

    Macklowe claims Rabin owes $100K in rent; fashion designer says he was pushed out
    July 22, 2014 09:00AM
    From left: Harry Macklowe, Eliot Rabin and Aby Rosen

    From left: Harry Macklowe, Eliot Rabin and Aby Rosen

    Harry Macklowe and his former tenant Eliot Rabin — owner of men’s and women’s clothing brand Peter Elliot — will be seeing each other in court. [more]

  • Owners getting tipped off about landmarking plans: report

    Advance notice of preservation process leads to pre-emptive demolition of buildings
    July 22, 2014 08:30AM
    20140721_berman_dakota_stables

    Dakota Stables and Andrew Berman

    A pro-preservation group is urging the city to stop giving landlords advanced notice that their building is being considered for landmarking, saying the leaks allow owners to circumvent the process. [more]

  • Park Slope group sues to halt New York Methodist expansion

    Organization opposes hospital's plans to build large outpatient facility in resi neighborhood
    July 22, 2014 08:00AM By David Jones
    NewYorkMethodist-Hospital

    New York Methodist Hospital

    A Brooklyn community organization has filed suit to overturn a decision by the city Board of Standards and Appeals to approve plans for a new ambulatory care facility at New York Methodist Hospital in Park Slope.

    The 800-member organization, called Preserve Park Slope, filed suit in Manhattan Supreme Court late last week seeking to reverse a series of variances that would enable New York Methodist to build the new facility in the middle of a residential neighborhood. [more]

  • Current reader favorites:
    1. Extell’s “poor door” receives city approval
    2. Urban Compass raises $40M from Salesforce CEO, others
    3. Manhattan’s skyline will look dramatically different by 2020
    4. E&M pays $95M for land under cash-strapped Chelsea building
    5. Manhattan’s office building values near pre-crash levels

  • Boerum Hill getting 34-room hotel

    Four-story structure to replace 1960s warehouse
    July 21, 2014 06:10PM
    489-Baltic-Street

    489 Baltic Street in Brooklyn

    Developer Alec Shtromandel, who is bringing the Union Hotel in Gowanus, has plans for another hotel in Brooklyn – this time in Boerum Hill.

    The four-story building at 489 Baltic Street, between Nevins and Bond streets, would hold 34 hotel rooms, according to plans filed late last week that were cited by BuzzBuzzHome. A 5,730-square-foot warehouse dating to the early 1960s currently occupies the 50-foot-by-100-foot site. Soho-based Kutnicki Bernstein Architects was hired to handle design. [more]

  • Sign up for TRD e-Lerts

    July 21, 2014 05:50PM

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  • Madison Realty and RWN snag two Harlem buildings for $30M

    Properties along the Frederick Douglass corridor have 30,000 sf of unused air rights
    July 21, 2014 05:30PM
    From left: Josh Zegen, 2053 Frederick Douglass Boulevard and 300 West 112th Street

    From left: Josh Zegen, 2053 Frederick Douglass Boulevard and 300 West 112th Street

    Madison Realty Capital has teamed with RWN Real Estate Partners to purchase a pair of buildings along Frederick Douglas Boulevard in Harlem for about $30 million. [more]

  • From left: Rendering of 98 Haven Avenue and the work-in-progress now

    From left: Rendering of 98 Haven Avenue and the work-in-progress now

    A little Hamptons “cottage” for $13M. Columbia Medical Center’s crazy curvy tower takes shape. St. Mark’s Bookshop makes Alphabet City debut on East Third Street. Read these stories and more after the jump.

  • Assemblage of Chelsea commercial buildings asks $120M

    Massey Knakal marketing sites as two towers, possibly hotels
    July 21, 2014 04:45PM
    28th

    From left: 132 and 136 West 28th Street and James Nelson

    Landlord Frank Ng has listed an assemblage of adjacent buildings along West 28th Street in Chelsea for a total of $120 million.

    The sites at 132-144 West 28th Street, between Sixth and Seventh avenues, are zoned exclusively for commercial use. They offer about 240,000 square feet of buildable space. [more]

  • This month in real estate history: Historic mortgage recording tax takes effect

    A look back at some of New York City’s biggest real estate stories
    July 21, 2014 04:20PM By Adam Pincus
    Andrew Carnegie

    Andrew Carnegie

    From the July issue: A fundamental change in the way that real estate loans were taxed in New York state took effect 108 years ago this month, as a new law imposed a one-time mortgage-recording tax, replacing an annual tax on property debts.

    The state law took effect July 1, 1906, and imposed a one-time recording fee of 0.5 percent of the loan, to be paid by either the borrower or the lender. [more]

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