The Real Deal New York

  • Ride the elevator with Denzel for just $7M

    15 CPW pad last traded for $2.6M
    May 04, 2015 06:00PM
    Denzel Washington and 15 Central Park West in Lincoln Square

    Denzel Washington and 15 Central Park West in Lincoln Square

    A two-bedroom unit in the Zeckendorfs’ trophy residential building, 15 Central Park West, hit the market for the conspicuously low price of $7 million. [more]

  • WeWork opening in Miami Beach in July

    WeWork will have 40,000 sf on four floors at 350 Lincoln Road
    May 04, 2015 05:30PM By Erik Bojnansky

    WeWork space at another location

    From the South Florida site: WeWork, a New York-based company that operates dozens of co-working spaces in three countries, will open its first venture in South Florida this summer. [more]

  • Ismael Leyva to design Fortuna’s new Midtown Hotel

    40-story, 300-key hotel yet to be named, will total 162,000 sf
    May 04, 2015 05:01PM
    Moinian Leyva

    From left: Morris Moinian and Ismael Leyva

    Morris Moinian’s Fortuna Realty Group has selected Ismael Leyva Architects to design its new Midtown hotel at 1150 Sixth Avenue.

    The 40-story, 300-key hotel, which has yet to be named, will total 162,000 square feet and include penthouse and lower-tower suites with “expansive” rear terraces, Fortuna announced Monday. [more]

  • Available space bulges on Soho’s Broadway

    Asking rents hit $1,000 per foot or more for prime spots; landlords seem ready to deal
    May 04, 2015 04:45PM By Adam Pincus
    530 Broadway

    530 Broadway

    From the May issue: The east and west sides of Broadway in Soho house about 120 storefronts. Some have premier tenants like Prada, Hugo Boss and Uniqlo, but last month about two dozen had space available for lease.

    That’s more than 20 percent of the units, a level that is giving tenant brokers negotiating leverage. It marks a change from a few years back, when landlords held all the cards. And there’s been no major deal announced on the stretch since last fall. [more]

  • Inside TheRealDeal
  • 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)
    May 04, 2015 04:30PM


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

  • SMA Equities buys three Gramercy properties for $28M

    Deal includes two buildings and a commercial condo
    May 04, 2015 04:00PM By Tess Hofmann
    299 Third Avenue in Gramercy (inset: Samy Mahfar)

    299 Third Avenue in Gramercy (inset: Samy Mahfar)

    UPDATED, May 4, 4:40 p.m.: Samy Mahfar’s SMA Equities purchased two Gramercy buildings and a commercial condo for a total of $27.8 million, according to property records filed with the city today. [more]

  • LES prices push past $2,000 a foot

    New condo projects boost neighborhood's sales market
    May 04, 2015 03:30PM By Rich Bockmann
    From left: 100 Norfolk Street (credit ODA New York), Aril Tirosh (top), Fredrik Eklund and 50 Clinton Street (credit PAPERFARMER)

    From left: 100 Norfolk Street (credit ODA New York), Aril Tirosh (top), Fredrik Eklund and 50 Clinton Street (credit PAPERFARMER)

    The Lower East Side, one of the city’s most storied neighborhoods, has long been an overlooked corner of the Manhattan residential sales market. But it finally seems to be coming into its own as the new-development pipeline pushes prices past the $2,000 per-square-foot barrier. [more]

  • John Liang, Izak Senhabar to speak at TRD’s forum & showcase

    Annual real estate event to be held at the Metropolitan Pavilion on May 12
    May 04, 2015 03:00PM

    (Click to enlarge)

    The lineup for The Real Deal’s new development showcase and forum is taking shape, with two new speakers announced for three panels that will cover topics like foreign investment, residential development and financing projects in New York City.

    Once again, TRD is bringing real estate’s top names together for thought-provoking discussion on some of the industry’s biggest issues. The event, which will be hosted at the Metropolitan Pavilion in Chelsea on Tuesday, May 12th, will feature the likes of Xinyuan Real Estate’s John Liang, Alexico Group CEO Izak Senhabar, HFZ Capital’s Ziel Feldman, the Moinian Group’s Joseph Moinian and Marty Burger of Silverstein Properties.

    Along with these panels, The Real Deal will offer a sneak peek of some of the city’s most anticipated projects to a crowd of more than 3,500 investors, buyers, brokers, lenders, developers and high- end consumers–so don’t miss out.

    Click here to purchase purchase tickets for the event. For sponsorship opportunities, call 212-595-6271 or email forum@therealdeal.com.

  • Sitt’s Thor Residential buys Morningside Heights rental for $30M

    Property at 526 West 111th St. includes 44 units
    May 04, 2015 02:30PM By Claire Moses
    From left: Alan Klein, 526 West 111th Street and Aaron Jungreis

    From left: Alan Klein, 526 West 111th Street and Aaron Jungreis

    Joseph Sitt’s Thor Residential is in contract to buy a six-story elevator building in Morningside Heights for $30 million, The Real Deal has learned. [more]

  • Commercial firms embrace Instagram

    The photo-sharing social media platform was once the domain of residential brokerages
    May 04, 2015 02:00PM
    (credit: CBRE Group and JLL)

    (credit: CBRE Group and JLL)

    Residential brokerages awakened to the benefits of Instagram ages ago. But recently, commercial firms have begun harnessing the power of snapshots to promote their brands, too. CBRE Group, JLL and Cushman & Wakefield have all increasingly been using the photo-sharing platform. [more]

  • Hamptons summer rentals approach $2M mark

    But median rents for summer getaways remain unchanged
    May 04, 2015 01:33PM
    Hamptons rental

    A $1.6 million rental in East Hampton (credit: Corcoran Group)

    The market for summer rentals in the Hamptons has rebounded this year, with properties asking just shy of $2 million only two years after many struggled to break the $1 million barrier. [more]

  • Alexander Rovt financed mailer attacking Assembly candidate

    The new controversy further fuels fight over developer money in Albany
    May 04, 2015 01:00PM
    From left: Alexander Rovt and Geoffrey Davis

    From left: Alexander Rovt and Geoffrey Davis

    Billionaire real estate investor Alexander Rovt has been revealed as the bankroller of a controversial  mailer attacking Assembly candidate Geoffrey Davis.

    The scandal is adding to criticisms about real estate money influencing Albany politics, Capital New York reported. [more]

  • Victor Homes, Lend Lease file plans for 52-story condo at 281 Fifth

    Vinoly-designed development includes 141 units across 209k sf of residential space
    May 04, 2015 12:31PM
    281 Fifth Avenue

    From left: 281 Fifth Avenue massing diagram, Lend Lease’s Melissa Burch and 281 Fifth Avenue in NoMad

    Victor Homes and Lend Lease have filed plans for a 52-story condo tower at 281 Fifth Avenue at the corner of East 30th Street. Rafael Vinoly Architects, the designer of 432 Park Avenue, is the architect of record. [more]

  • Dean Skelos surrenders to federal authorities

    Criminal complaint includes allegations of improper dealings with Glenwood Management
    May 04, 2015 12:00PM
    From left: Dean Skelos and Preet Bharara

    From left: Dean Skelos and Preet Bharara

    Dean Skelos, New York Senate Majority Leader, surrendered to federal authorities on Monday morning. He will face federal corruption charges, and is being investigated in part for potentially improper dealings with Leonard Litwin’s Glenwood Management. [more]

  • Lloyd Blankfein sued by worker over Hamptons home

    The contractor was injured while working on Goldman Sachs CEO's Ocean Road pad
    May 04, 2015 11:30AM
    Lloyd Blankfein

    Lloyd Blankfein

    Goldman Sachs chairman and CEO Lloyd Blankfein is facing litigation from a contractor who fell from scaffolding while working on his Hamptons home.

    The construction worker, Cesar Correa, said in the suit that the fall caused injuries to his knee, rendering him “sick, sore, lame and disabled,” according to the New York Daily News. He is blaming Blankfein for failing to take appropriate safety precautions to protect workers. [more]

  • Forever 21 coming back to Downtown Brooklyn

    Retailer takes 40,000 sf at Crown Acquisitions' 490 Fulton St.
    May 04, 2015 11:00AM
    Stanley Chera

    Stanley Chera and 490 Fulton Street in Downtown Brooklyn

    Forever 21 has signed a 40,000-square-foot lease at 490 Fulton Street in Downtown Brooklyn, with the retailer returning to the neighborhood it left in 2007.

    The clothing store will open its F21 Red store concept at the five-story building by the end of the year. Other tenants at the property, controlled by the Chera family’s Crown Acquisitions, include Planet Fitness, Express and Raymour & Flanigan Furniture. [more]

  • Brokerages take gloves off

    Rivalries between Manhattan’s residential firms get ugly as battle for top talent heats up
    May 04, 2015 10:30AM By E.B. Solomont
    (Credit: Chris Manfre)

    (Credit: Chris Manfre)

    From the May issue: The judge in the case was incredulous, and at a March 30 hearing, she said as much. “Corcoran, the biggest real estate broker in the state of New York, is coming to me and saying that ‘we need protection from this new start-up company?’ ”

    Indeed it was. [more]

  • Elon Musk

    Elon Musk

    New look available at Long Island City resi building. Tiny houses are the new trend in Portland. Tesla wants to power homes with batteries. Read these stories and more after the jump.

  • Clarion and MHP’s 180 Maiden Lane gets first new tenant since $28M renovation

    Holborn Company inks lease for 25,000 square feet
    May 04, 2015 09:30AM
    180 Maiden Lane

    180 Maiden Lane

    A new tenant has inked a lease at the newly renovated 180 Maiden Lane.

    Clarion Partners and MHP Real Estate Services spent $28 million on renovating the office tower in the Financial District, the Wall Street Journal reported. Reinsurance broker the Holborn Company — currently located at 88 Pine Street — signed on for 25,000 square feet on the sixth floor of the building, according to the newspaper. [more]

  • Federal act endangers giant Times Square billboards

    Seventh Ave. and Broadway at Times Square are part of National Highway System
    May 04, 2015 09:00AM
    Times Square

    Times Square

    An unexpected side effect of a 2012 federal transportation bill is threatening Times Square’s giant, flashy billboards. [more]