The Real Deal New York

  • Steepest, cheapest listings in Manhattan this week

    This week's listing range from $39M for a penthouse to $220,000 for a two-bedroom unit
    December 19, 2014 04:30PM
    From left: 33 East 74th Street and 2090 Madison Avenue

    From left: 33 East 74th Street and 2090 Madison Avenue

    Douglas Elliman’s Katherine Gauthier and Eva Penson had the priciest listing this week with a $39 million penthouse at the Whitney at 33 East 74th Street. On the cheap end, the week’s least expensive listing was a $220,000 four-bedroom apartment at 2090 Madison Avenue. These listings and more after the jump.

  • CMBS market rebounds as lending standards loosen

    Issuance of property-backed securities heating up in the second half of 2014
    December 19, 2014 04:09PM

    Following a slow first half of the year, the commercial mortgage-backed securities market is seeing a flurry of activity as lending standards continue to ease up. [more]

  • The week in renderings: 204 Forsyth, 87 Wythe

    Here are some images of future NYC sites that caught our eye
    December 19, 2014 03:35PM
    renderings-wythe-pacific

    Renderings of 87 Wythe Avenue in Williamsburg (credit: Studio 4D) and 30 Sixth Avenue in Brooklyn (credit: SHoP)

    Developer Charles Saulson’s new 11-story Lower East Side condominium building and Cayuga Capital Management’s 12-story Williamsburg office property are among the latest projects to receive a new batch of renderings in the past week. Click here for a slideshow and more.

  • South Florida homes valued at $717B total: study

    Amount up nearly 10 percent year-over-year
    December 19, 2014 03:05PM
    Paragon_Plantation_Photo-300x199

    South Florida homes valued at $717B.

    From the South Florida website: The total value of homes in the South Florida market topped $717 billion in November. That’s up close to 10 percent from the same period a year ago.

    The gain in November far outpaced the 6.7 percent increase in the total value of all homes in the U.S. Houses in the U.S. have an estimated combined value of $27.5 trillion. [more]

  • Inside TheRealDeal
  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    December 19, 2014 02:50PM

    1. Priciest office nabes in the world? Midtown not even close
    2. Industry shows up to #PartywithMoinian: PHOTOS
    3. By the numbers: Measuring the progress of Hudson Yards

    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]

  • In memoriam: A look back at real estate players the industry lost this year

    Tamir Sapir, Bernard Spitzer and Glenn Markman among deaths in 2014
    December 19, 2014 02:20PM By E.B. Solomont
    From left: Tamir Sapir, William Zeckendorf Jr., Bernard Spitzer and Glenn Markman

    From left: Tamir Sapir, William Zeckendorf Jr., Bernard Spitzer and Glenn Markman

    New York’s real estate community said goodbye in 2014 to several pioneering developers and agents who helped to shape the city’s skyline. But the year started with the kidnapping and grisly murder of a little-known Brooklyn landlord, and every twist and turn of his dramatic case was closely followed by the industry. [more]

  • Minskoff secures $200M loan to refinance 101 Sixth

    Citibank, Barclays provide 20-year fixed-rate mortgage
    December 19, 2014 01:50PM By Mark Maurer
    101 Sixth Avenue (Credit: CoStar Group) and Edward Minskoff

    101 Sixth Avenue (Credit: CoStar Group) and Edward Minskoff

    Edward Minskoff, who has signed several tenants to pricey lease deals at his 101 Sixth Avenue recently, received $200 million to refinance the 23-story office property, The Real Deal has learned. [more]

  • Bjarke Ingels moves ahead with Harlem resi project

    Blumenfeld's 233-unit residential building will also hold 37K sf of commercial space
    December 19, 2014 01:20PM By Claire Moses
    From left: Bjarke Ingels, 146 East 126th Street and David Blumenfeld

    From left: Bjarke Ingels, 146 East 126th Street and David Blumenfeld

    Bjarke Ingels is ready to officially leave his mark on Harlem.  [more]

  • Sackman Enterprises goes bigger at UWS development

    Revised plans show much larger building planned for West 96th Street site
    December 19, 2014 12:48PM By E.B. Solomont
    15 West 96th Street

    15 West 96th Street on the Upper West Side

    Sackman Enterprises is embracing the idea that bigger is better at a development site on the Upper West Side.

    The developer, which previously disclosed plans to demolish two townhouses in order to construct a new residential building, filed plans for an expanded, 22-story building at 15 West 96th Street, according to Department of Buildings records. [more]

  • Top 10 Manhattan retail investment deals of 2014

    Condos at World Trade Center, St. Regis and 432 Park top the list
    December 19, 2014 12:10PM By Mark Maurer
    Clockwise from top left: Doug Harmon, Adam Spies, Marc Holliday, Barry Sternlicht, Steven Roth, Harry Macklowe and Stanley Chera

    Clockwise from top left: Doug Harmon, Adam Spies, Marc Holliday, Barry Sternlicht, Steven Roth, Harry Macklowe and Stanley Chera

    The ever-increasing throngs of brand-hungry shoppers traipsing through Manhattan has resulted in record retail deals this year. And it’s the usual suspects who are pouncing on the opportunity. [more]

  • Investors slap Malkins with new suit over Empire State IPO

    With similar cases dismissed in New York, plaintiffs now trying federal court
    December 19, 2014 11:35AM
    Anthony Malkin, the Empire State Building and Andrew Penson

    Anthony Malkin, the Empire State Building and Andrew Penson

    Empire State Building investors fired off another suit against embattled managers Peter and Anthony Malkin claiming they were bilked out of profits in the building’s initial public offering. [more]

  • The condo loan bottleneck

    Looser FHA regulations could help millenials, seniors
    December 19, 2014 11:05AM By Kenneth Harney
    From left: David Stevens and 432 Park Avenue

    From left: David Stevens and 432 Park Avenue

    From the December issue: Call it the condo conundrum: In many urban areas nationwide, demand for condominium units is rising, according to new real estate industry estimates, yet mortgage financing for entry-level condo buyers is getting squeezed by a key federal agency. 

    It’s a little schizophrenic. List prices for condos in major markets are rising faster than those for single-family detached homes in the same areas. Nationwide, condo sales are steadily taking away market share from traditional homes as suburban boomers downsize, and other owners want to live closer to urban workplaces and center city attractions.[more]

  • Sant Chatwal escapes prison time for campaign finance fraud

    Judge sentences hotelier to three years of probation, 1,000 hours of community service
    December 19, 2014 10:35AM
    Sant Singh Chatwal

    Sant Singh Chatwal

    Sant Singh Chatwal, the international hotelier and restaurateur who pleaded guilty to running a phony political fundraiser that gave money to several lawmakers, including Hillary Clinton, will not be going to prison.

    Chatwal, 70, was sentenced to three years of probation instead, the New York Times reported. In addition, Chatwal was fined $500,000 and has to perform 1,000 hours of community service. [more]

  • Roomy loft at 89 Franklin Street, Tribeca

    Loft at 89 Franklin Street, Tribeca

    Tribeca loft with 13 interior windows up for rent. Parts of Second Ave lay vacant, waiting for development. Making a tiny apartment in the city work. Read these stories and more after the jump.

  • A new look at Ziel Feldman’s NoMad project

    Assemblage could give rise to a 400,000-square-foot building
    December 19, 2014 09:25AM
    Rendering for HFZ's project at the site of the former Bancroft Building in NoMad

    Rendering for HFZ’s project at the site of the former Bancroft Building in NoMad (Credit: FR-EE)

    A new look is available at what could become one of NoMad’s tallest towers. [more]

  • American Realty’s Schorsch accused of cooking the books

    Ex-accounting chief claims she was fired for blowing the whistle on bogus earnings numbers
    December 19, 2014 08:50AM
    From left: Nicholas Schorsch and Lisa McAlister

    From left: Nicholas Schorsch and Lisa McAlister

    American Realty Capital Properties’ former chief accounting officer claims in a new lawsuit that she was fired for blowing the whistle on accounting errors at the firm.

    Lisa McAlister claims in the suit, which was filed in New York state court in Manhattan, that she told then-chairman Nicholas Schorsh and David Kay, the chief executive officer at the time, about intentionally concealed mistakes in the books before she was fired, according to Bloomberg News. [more]

  • Sutton, GGP’s $1.75B Crown Building buy sets world record

    Spitzer and Winter families bought the Art Deco property in 1991 for $94M
    December 19, 2014 08:13AM
    From left: Jeff Sutton, the Crown Building and Sendeep Mathrani

    From left: Jeff Sutton, the Crown Building and Sendeep Mathrani

    Jeff Sutton and General Growth Properties are buying the Crown Building at Fifth Avenue and 57th Street for $1.75 billion, only a day after it hit the market. [more]

  • Most popular stories on The Real Deal

    December 19, 2014 07:25AM

    Current reader favorites:
    1. The top 10 real estate projects coming to NYC
    2. Shaoul’s West Chelsea townhouse sale a new record: Steinberg
    3. Top 10 development deals of 2014
    4. Senate fails to renew Terrorism Risk Insurance Act
    5. Brookfield to pay $93M for three Manhattan West bonuses

  • Castellan bringing affordable housing building to East 30th St.

    Roughly 21,000-square-foot property will have one full-floor unit per story
    December 18, 2014 06:00PM By Claire Moses
    9 East 30th Street and a rendering of the building proposed for the site (Credit: Kossar + Garry Architects)

    9 East 30th Street and a rendering of the building proposed for the site (Credit: Kossar + Garry Architects)

    UPDATED, 2:30 p.m. December 19: Castellan Real Estate Partners is planning to construct a 21-story residential building at 9 East 30th Street, according to the developer. [more]

  • Tsimmer’s Caerus Group in contract for Zionist group’s HQ

    Midtown site with 100K sf in development rights could close for up to $80M: sources
    December 18, 2014 05:30PM By Adam Pincus and Mark Maurer
    4-e-34

    From left: 4 East 34th Street, David Eyzenberg and Jon Epstein

    Leo Tsimmer’s Caerus Group just inked a contract to buy the six-story Zionist Organization of America building at 4 East 34th Street, The Real Deal has learned. Tsimmer, who was active in the prior real estate boom as a developer of projects such as Highline 519 in Chelsea, is expected to close on the sale of the building and additional development rights for between $70 million and $80 million, according to insiders. [more]

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