The Real Deal New York

  • New luxury cabins coming to Hudson River Valley

    Optional amenities include wood-burning stoves, green houses and even a tree house
    May 02, 2015 05:00PM TRD WEEKEND EDITION
    Lang Architecture's Hudson Woods

    Lang Architecture’s Hudson Woods

    A new stylish urban-escape is rising just two hours from Manhattan. [more]

  • America’s five most affordable cities

    Forbes measured cost of living data in each city for the ranking
    May 02, 2015 04:00PM TRD WEEKEND EDITION
    Clockwise from left:

    Clockwise from left: Cincinnati, Oklahoma City, Buffalo, Knoxville and Birmingham (inset)

    To find the most affordable cities in the U.S., Forbes analyzed data from America’s 100 largest Metropolitan Statistical Areas and Metropolitan Divisions with populations of 600,000 or more. [more]

  • Assemblywoman goes undercover in Airbnb sting

    The sting was financed by the hotel industry-backed “Share Better Coalition”
    May 02, 2015 03:00PM TRD WEEKEND EDITION
    Rosenthal on the hidden camera during the Airbnb sting operation

    Rosenthal on the hidden camera during the Airbnb sting operation

    A hidden camera was used to bust an illegal Airbnb listing in a state sting operation. [more]

  • Weekend with the Kennedys for a cool $38,800

    Enjoy cocktails, dinner and sailing for five in Hyannis Port
    May 02, 2015 02:00PM TRD WEEKEND EDITION
    Ethel Kennedy, the Kennedy's compound and

    Ethel Kennedy, the Kennedy’s Hyannis Port compound and Ted Kennedy Jr.

    From Luxury Listings NYC: The Kennedys are opening up their famed Massachusetts compound to a few lucky guests with plenty of cash to burn. [more]

  • Inside TheRealDeal
  • From the archives: Model units open doors in buyer’s minds

    May 02, 2015 01:00PM By C. Hobbs
    Andrew Gerringer and a model apartment unit

    Andrew Gerringer and a model apartment unit

    Developers and brokers of new projects know they’re asking buyers to shell out often as much as seven figures for property essentially sight unseen, which is why they’re spending more money to capture the essence of their entire projects in their model units.

    Andrew Gerringer, managing director of new development for Prudential Douglas Elliman, believes sales increasingly hinge on the impression made by model units, particularly in a robust pre-selling market. Read the full article from the May 2005 article here.

  • Panel recommends “great hall” for LaGuardia

    The officials also recommended an air train station and hotel at the airport
    May 02, 2015 12:02PM TRD WEEKEND EDITION
    A rendering of an updated LaGuardia

    A rendering of an updated LaGuardia

    An official design panel tapped by Governor Andrew Cuomo is recommending the creation of a “great hall” at LaGuardia International Airport. [more]

  • Drones added to NYC vandals’ arsenal: VIDEO

    Drones are allowing street artists and vandals to reach the city's tallest buildings and billboards
    May 02, 2015 11:00AM By Business Insider

    The six-story billboard stands at the Houston-and-Broadway intersection and a drone

    You would think that the top of a six-story Calvin Klein ad would be difficult to tag for even the most enterprising of vandals. But not even Kendall Jenner’s innocent face is safe from a drone. [more]

  • Senator Dean Skelos and son to be arrested next week

    The corruption investigation once again involves Glenwood Management
    May 02, 2015 10:23AM
    From left: Dean Skelos, U.S. Attorney for the Southern District of New York Preet Bharara and Adam Skelos

    From left: Dean Skelos, U.S. Attorney for the Southern District of New York Preet Bharara and Adam Skelos

    New York State Senate leader Dean Skelos and his son, Adam, are expected to be arrested next week by the federal government on corruption charges. The charges come just three months after federal bribery and kickback allegations led to the downfall of Assemblyman Sheldon Silver. [more]

  • Inside Patrick Dempsey’s Malibu mansion

    The home is on the market for $14.5M
    May 02, 2015 09:41AM TRD WEEKEND EDITION
    Patrick Dempsey  and his Malibu home

    Patrick Dempsey and his Malibu home

    From Luxury Listings NYC: Actor Patrick Dempsey and his soon-to-be ex-wife, Jillian Fink, are looking to unload their Malibu mansion for $14.5 million. Here’s a peak inside. [more]

  • Top residential agents of the week

    May 01, 2015 06:00PM
    530 Park Avenue in Lenox Hill

    530 Park Avenue in Lenox Hill

    Kiyomi Yamada of Classic Marketing topped this week’s residential sales with a $8.8 million condo at 530 Park Avenue in Lenox Hill. Click here to see this listing and more.

  • No redemption for developers in dispute with UWS church

    Cheever Development had started excavation for condo project at 814-816 Amsterdam Ave. prior to the crash
    May 01, 2015 05:51PM By Tess Hofmann
    St. Michael's Church at 225 99th Street on the Upper West Side

    St. Michael’s Church at 225 99th Street on the Upper West Side

    St. Michael’s Church has been absolved of claims that it owed Cheever Development’s Getz Obstfeld and Matthew Lonuzzi $14 million, after it backed out of an agreement to sell them a development site on the Upper West Side. [more]

  • The week in renderings: 126 Madison Ave., 1809 Emmons Ave.

    Here are some images of future NYC sites that caught our eye
    May 01, 2015 05:30PM
    Clockwise from left: 1047 Amsterdam Avenue

    Clockwise from left: 1047 Amsterdam Avenue, 126 Madison Avenue, 1809 Emmons Avenue in Sheepshead Bay and 1915 Bartow Avenue in the Bronx

    A new hotel on West 38th Street, a duo of residential towers on the Upper West Side and more in this week’s notable renderings.

  • Who Tweeted/Facebooked/Insta’d it?

    Some feeds are more colorful than others
    May 01, 2015 05:00PM By Rich Bockmann

    Quiz pics

    Many real estate players use social media as a way to expand their brand. Can you guess who Tweeted and Instagrammed these gems?

  • Stuart Elliott

    Stuart Elliott

    From the May issue: Some of the biggest real estate players in New York fly so far under the radar that they might as well be in the witness protection program. It’s almost an urban legend: The shadowy developer who builds whole chunks of the city but has never been seen in public. In this issue, we profile a classic example of this developerus secretus species, Simon Dushinsky of the Rabsky Group, who is one of the most prolific builders in Brooklyn. [more]

  • Sapir and CIM’s 11 Madison hits market

    Tenants at 29-story, 2.2M sf tower include Yelp, Sony
    May 01, 2015 04:39PM
    Sapir 11 Madison

    Alex Sapir and 11 Madison Avenue

    The Sapir Organization and CIM Group have placed their Art Deco office tower at 11 Madison Avenue on the market.

    The two entities own the 29-story, 2.2 million-square-foot building, located next to Madison Square Park, through a partnership. They previously put the property up for sale in 2012, eventually pulling it off the market when they could not get the $1.5 billion asking price. [more]

  • 421a limbo? New resi unit applications hit a low in April

    With key legislation's fate up in the air, developers may be wary to move ahead
    May 01, 2015 04:08PM By Will Parker
    Residential permit applications filed with the Department of Buildings from April 1, 2014 to April 30, 2015 (Source: DOB data, TRD analysis)

    Residential permit applications filed with the Department of Buildings from April 1, 2014 to April 30, 2015 (Source: DOB data, TRD analysis)

    Uncertainty over the fate of the 421a program may be giving developers pause, with last month seeing the lowest number of permits filed in the last year for new residential units in New York City.

  • Class A rents in Midtown rebound; Midtown South sees “hitch”

    Effective rents up 5 percent for Class A Midtown space in Q1: CompStak
    May 01, 2015 03:31PM By Rey Mashayekhi
    Manhattan office effective rents

    Average effective rents by Manhattan office market (credit: CompStak)

    The Midtown office market performed strongly in the first quarter of 2015, with effective rents for Class A space increasing 5.1 percent from the previous quarter while Midtown South effective rents dropped after three consecutive quarters of growth. [more]

  • Woori Bank relocates to 25K sf within Koreatown

    Arm of South Korea’s largest bank headed to Shulsky's 330 Fifth Ave.
    May 01, 2015 02:55PM By Rich Bockmann
    330 Fifth Avenue, Soon H. Rhee (top) and Norman Bobrow

    330 Fifth Avenue, Soon H. Rhee (top) and Norman Bobrow

    The local arm of one of Asia’s largest banks is relocating from the corner of Broadway and 31st Street – where its retail branch marked the edge of Koreatown – two blocks over to the other side of the small neighborhood.

    Woori America Bank, a subsidiary of South Korean bank Woori Financial Group, has signed a lease for 25,000 square feet at Shulsky Properties’ 330 Fifth Avenue at 33rd Street, and will move from Jamestown Properties’ 1250 Broadway between 31st and 32nd Streets. [more]

  • Emigrant’s head of CRE dies in bike crash

    Patricia Goldstein was alum of Citicorp, Milstein Brothers Realty Investors
    May 01, 2015 02:31PM
    Patricia Goldstein

    Patricia Goldstein

    Patricia Goldstein, a vice president and the head of commercial real estate for Emigrant Bank, died Wednesday from injuries sustained in a bicycle accident. She was 69.

    A car struck Goldstein on April 23 while she was riding in a highway bike lane in Highland Beach, Florida. The car left the road, hitting her and her husband Howard Epstein, who was riding on another bicycle and was also seriously injured. [more]

  • The May issue is live!

    Residential rivalries get ugly, a profile of Simon Dushinsky, tech startups ranking & more
    May 01, 2015 02:06PM
    The Real Deal May 2015

    The Real Deal May 2015

    Amid unprecedented competition in the residential real estate world, the battling between firms has reached epic proportions as firms attempt to beat each other out for top talent. This month, The Real Deal looked at some of the most intense rivalries, and the public (and not-so-public) conflicts they’ve given rise to, in our cover story for the May issue, now available online. [more]