The Real Deal New York

  • Contract negotiations now favoring unions

    Doormen, transit workers getting better deals than historically received
    April 20, 2014 02:00PM
    Governor Andrew Cuomo

    Governor Andrew Cuomo

    WEEKENDEDITION The recent doormen pact and transit workers deal could signal better payouts for union workers.

    Discussions regarding raises for the city’s municipal unions have not fared well from the perspective of union workers, due in part to the city’s inability to pay what the unions want, the precedent set by the three-year pay freeze the governor imposed on state workers, and that private sector raises have been slight during that time. [more]

  • Landlord bans Brooklyn bar from going gay

    Owner of Greenpoint bar continues to fight controversial lease
    April 20, 2014 01:00PM
    Lulu’s on 113 Franklin Street in Brooklyn

    Lulu’s on 113 Franklin Street in Brooklyn

    WEEKENDEDITION The landlord of a Grenpoint, Brooklyn club refuses to allow its owner to turn it into a gay bar. [more]

  • Nonprofits facing challenges in real estate market

    Organizations facing stiff competition from tech firms
    April 20, 2014 12:00PM
    154 East 23rd Street

    154 East 23rd Street

    WEEKENDEDITION With technology firms eating up space in older loft-like buildings at a rapid rate, rents in formerly affordable office spaces have been going up, making it difficult for nonprofits and arts organizations to find affordable deals.

    In the first quarter of 2014, Manhattan commercial rents rose 7 percent from the corresponding period five years ago, according to Cushman & Wakefield. Meanwhile, rents in midtown south rose up 29 percent within the same period. [more]

  • Million dollar homes harder to come by

    The number of Manhattan apartments for sale below $1 million are shrinking
    April 20, 2014 11:00AM
    3 Gramercy Park West

    3 Gramercy Park West

    WEEKENDEDITION Because of rising prices and a dearth of listings, New York City homebuyers looking for an apartment in the million-dollar price range are becoming forced to make considerable concessions. [more]

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  • Italy to auction off “haunted” island

    The cash-poor nation is looking to lease the 17-acre island near Venice
    April 20, 2014 10:00AM
    Poveglia, a supposedly haunted island in Italy

    Poveglia, a supposedly haunted island in Italy

    WEEKENDEDITION Italy is about to auction off a state-owned island that many believe is haunted. [more]

  • Three leases signed at 250 West 55th Street

    Three firms to occupy a total of 23,265 SF at the office tower’s 16th floor
    April 20, 2014 09:00AM
    250 West 55th Street

    250 West 55th Street

    WEEKENDEDITION Three firms have made deals to occupy a total of 23,265 square feet at the recently-built 250 West 55th Street.

    Veracen Partners, RTW Investments & LifeSci Capital and Coltrane Asset Management have each signed leases for 11,263 square feet, 7,196 square feet and 4,806 square feet, respectively, at the nearly one million square-foot office property at Eighth Avenue. All three companies will occupy a portion of the 16th floor of the 38-story office tower. [more]

  • Shirley MacLaine lists New Mexico ranch for $18M

    7,450-acre property features 9,000 SF house, caretaker's cottage and horse barn
    April 19, 2014 04:00PM
    From left, Shirley MacLaine, her Plaza Blanca Ranch in Abiquiu, NM

    From left, Shirley MacLaine, her Plaza Blanca Ranch in Abiquiu, NM

    WEEKENDEDITION Actress Shirley MacLaine has put her 7,450-acre New Mexico ranch on the market for $18 million. [more]

  • Astoria complex to receive $4M in new lights

    NYCHA to install the upgraded system within six months to mitigate safety concerns
    April 19, 2014 03:00PM
    From left, Councilman Jimmy Van Bramer, Ravenswood Houses

    From left, Councilman Jimmy Van Bramer, Ravenswood Houses

    WEEKENDEDITION Amid safety concerns, the Ravenswood Houses in Astoria will receive a new lighting system, updating a decades-old dilapidated system.

    Residents at the New York City Housing Authority complex say the old bulbs had grown so dim that they no longer felt safe coming home at night to the 2,167-unit complex, which houses roughly 4,500 residents. [more]

  • Greenwich Village townhouse sells for $8.1M

    Residence at 23 Downing Street has 900 SF of exterior space
    April 19, 2014 02:00PM
    23 Downing Street

    23 Downing Street

    WEEKENDEDITION A restored single-family townhouse in Greenwich Village sold for $8.1 million this week. [more]

  • College of New Jersey developer wins $52.5M loan

    The 130-unit development will also offer up to 80,000 square feet of retail space
    April 19, 2014 01:00PM
    Rendering of PRC Group's student housing project at College of New Jersey

    Rendering of PRC Group’s student housing project at College of New Jersey

    WEEKENDEDITION The PRC Group obtained a $52.5 million construction loan for its $80 million student housing project at The College of New Jersey. [more]

  • Plans for 41 East 22nd Street unveiled

    Residential tower should have 81 units and rise to 777 feet
    April 19, 2014 12:00PM
    From left, plans for 41 E 22nd Street, the current lot at the address

    From left, plans for 41 E 22nd Street, the current lot at the address

    WEEKENDEDITION Continuum Company has unveiled new images for what its new residential tower at 41 East 22nd Street will look like once it is completed. [more]

  • Gowanus coal pockets being razed

    Canal continues to see demolition, changes
    April 19, 2014 11:00AM
    Burns Brothers coal pockets at Gowanus Canal

    Burns Brothers coal pockets at Gowanus Canal

    WEEKENDEDITION The Burns Brothers coal pockets by the Goawnus Canal are in the process of being torn down, presumably to make way for a new office development. [more]

  • 341 Eastern Parkway to hit market this spring

    Crown Heights development to offer 65 resi units
    April 19, 2014 10:00AM
    341 Eastern Parkway

    341 Eastern Parkway

    WEEKENDEDITION A teaser site promoting a long-in-the-works Crown Heights rental development is now up and running. The 65-unit, eight-story building at 341 Eastern Parkway in Brooklyn will offer studio, one- and two-bedroom rentals, including duplexes.

    The almost finished project at Franklin Avenue will have approximately 8,000 square feet of retail and community space. One retail tenant will be Capital One Bank, which signed a 10-year lease for 3,000 square feet at the base of the building. The asking rent was $100 per square foot. Another tenant will take the remaining retail space.


  • Former Rego Park eatery faces demolition

    Home of the former Joe Abbracciamento Restaurant to become apartments
    April 19, 2014 09:00AM
    62-96 Woodhaven Blvd. in Queens

    62-96 Woodhaven Blvd. in Queens

    WEEKENDEDITION Shortly after a famous Rego Park eatery shuttered its doors, a developer has made plans to tear down part of the building it occupied. [more]

  • Greenpoint top nabe for youngsters seeking apartments: report

    But median rent of $1,157 is among priciest in the survey
    April 18, 2014 06:15PM By Business Insider
    Lena Dunham and Alex Karpovsky of "Girls" in front of Greenpoint's Café Grumpy

    Lena Dunham and Alex Karpovsky of “Girls” in front of Greenpoint’s Café Grumpy

    With May right around the corner, U.S. college graduates will be migrating to the nation’s biggest cities to try to find jobs, apartments and start life on their own.

    Niche Ink, a website dedicated to education analysis, put together a list of the best metro areas for millennials. They ranked the metro areas in the U.S. using a dozen factors, including data from the U.S. Census, FBI crime rates and Niche Ink user opinions on the best places for life after graduation. They then calculated the best neighborhood for young people in each of those cities. [more]

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    Finished with your copy of The Real Deal?  Then dive into The South Florida Market Report supplement, which accompanies the April 2014 issue. Within the 70-page section, you’ll find a comprehensive report on the latest condo development boom hitting Greater Downtown Miami, a profile of Argentinian fashion-mogul-turned-developer Alan Faena and his mission to transform an overlooked section of Miami Beach, and a look at the influx of New Yorkers taking over South Florida office space. Click here to read the full report online, or visit our magazine page for a story-by-story breakdown.

  • Sol Lewitt's “Wall Drawing #896 Colors/Curves” inside 1230 Avenue of the Americas

    Sol Lewitt’s “Wall Drawing #896 Colors/Curves” inside 1230 Avenue of the Americas

    Photographer explores inside 64sf homes at Chinatown’s 81 Bowery: PHOTOS. Central Park West‘s $88M penthouse among top ten priciest U.S. deals. The murals of New York City, all in one place: PHOTOS. Read these stories and more after the jump.

  • Starbucks coming to Bleecker Street Records spot

    Coffee chain confirms opening planned for this summer
    April 18, 2014 05:25PM
    From left: 239 Bleecker Street and Starbucks

    From left: 239 Bleecker Street and Starbucks

    The longtime home of Bleecker Street Records, a thriving vinyl store that counted Robert Plant and David Bowie among its customers, will soon be a Starbucks. [more]

  • Airbnb funding now up to $826M

    Latest capital-raising -- led by TPG and Dragoneer Investment Group -- pulls in $500M
    April 18, 2014 05:05PM
    Airbnb's New York City page

    Airbnb’s New York City page

    Short-term lodging purveyor Airbnb, the scourge of New York City hotel and motel owners, has closed on a $500 million funding round. [more]

  • City to fund $10 million maritime center on Pier 26

    Port Authority to contribute $5 million, state an additional $4.75 million
    April 18, 2014 04:45PM
    Pier 26 has hosted some of New York City's concerts

    Pier 26 has hosted some of New York City’s concerts

    The city has secured $10 million in state funds from a trio of agencies to build a stalled maritime education and research center on the Hudson River in Lower Manhattan. [more]