The Real Deal New York

  • Brooklyn judge mulls extending delay of hospital sale

    Nurses union's employment push at Cobble Hill site also under review
    September 18, 2014 05:35PM
    339 Hicks Street and Fortis’ Joel Kestenbaum

    339 Hicks Street in Brooklyn and Fortis’ Joel Kestenbaum

    A judge in Brooklyn Supreme Court is weighing whether to further delay the sale of the Long Island College Hospital in Cobble Hill as well as approve the nurses union’s request to increase employment.

    Last month, the court granted New York State Nurses Association a temporary restraining order that halted a purchase of the Cobble Hill facility by Fortis Property Group, Lutheran Family Health Center and NYU Langone Medical Center. The union alleged that the buyers did not hire nurses who had been laid off, thus violating an agreement. [more]

  • 8 Spruce Street, Frank Gehry's parametric design in the vein of the architecture featured in the film "Tron: Legacy"

    8 Spruce Street, Frank Gehry’s parametric design in the vein of the architecture featured in the film “Tron: Legacy”

    New renderings surface for SL Green’s One Vanderbilt. Architecture history in movies. Two Trees’ 60 Water Street nears completion. Read these stories and more after the jump.

  • Paris Café building on South Street hits the market

    Owner looking to capitalize on Seaport revitalization with $25.8M two-building sale
    September 18, 2014 04:45PM
    From left: 119 South Street, James Famularo and Adelaide Polsinelli

    From left: 119 South Street, James Famularo and Adelaide Polsinelli

    The building at 119 South Street that has been home to the Paris Café since 1873 is now on the market.

    The owners are seeking $25.75 million for the historic property and another nearby building at 108 South Street, the New York Observer reported. The sellers are seeking to take advantage of the revitalization of the South Street Seaport led by the Howard Hughes Corporation, Eastern Consolidated broker Adelaide Polsinelli, who is marketing the building with James Famularo, told the news site. [more]

  • This month in real estate history: REBNY fights WWII rent cap

    1943: Real estate board lobbies to prevent price controls on NYC apartments
    September 18, 2014 04:20PM By Adam Pincus

    Mayor Fiorello La Guardia

    From the September issue: The Real Estate Board of New York lobbied against a wartime proposal to cap rents on several million New York City apartment units, 71 years ago this month.

    REBNY appealed via telegram to officials in Washington within the federal Office of Price Administration, who were responsible for implementing price controls. The caps were part of a broader national law passed in 1942 that was aimed at easing the impact of inflation brought on by World War II. [more]

  • Inside TheRealDeal
  • Southern Brooklyn leaders fight illegal multi-family conversions

    Proposed measures would target "hot spots" and expand city's powers to fine property owners
    September 18, 2014 04:00PM
    From left: City Council member Vincent Gentile and Ridge Boulevard in Bay Ridge

    From left: City Council member Vincent Gentile and Ridge Boulevard in Bay Ridge

    Lawmakers and community leaders in southern Brooklyn are putting pressure on the city to tackle conversions of one-family homes into illegal multi-family dwellings. [more]

  • Brooklyn Law School townhouses hit the market

    Properties at 100 Pierrepont Street and 38 Monroe place asking $11M and $13M
    September 18, 2014 03:35PM
    Rendering of the living room at 28 Monroe Street

    Rendering of the living room at 28 Monroe Street in Brooklyn Heights

    The former Brooklyn Law School references in Brooklyn Heights have reemerged as a collection of townhouses starting at $11 million. [more]

  • Live like Jackson Pollock for $1.3M

    Artist's Village apartment is up for grabs; worth a lot less than his paintings
    September 18, 2014 03:10PM By Zachary Kussin
    pollock home

    From left: Jackson Pollock, a listing image of his apartment and Luis D. Ortiz

    From Luxury Listings NYC: If you want a Jackson Pollock painting, $1.25 million won’t get you far. However, that exact price can get you the influential painter’s former apartment at 46 Carmine Street, located between Bleecker and Bedford streets. [more]

  • Townhouse built for Douglas Elliman – the person – sells

    Upper East Side home constructed in 1909 goes for $14.8M
    September 18, 2014 02:44PM By Zachary Kussin
    Listing images of 177 East 71st Street

    Listing images of 177 East 71st Street

    The Upper East Side townhouse that was built for Douglas Ludlow Elliman, the founder of the eponymous real estate brokerage, has traded hands in a $14.8 million deal, according to today’s property records. The spread, located at 177 East 71st Street, most recently asked $15 million. [more]

  • Can de Blasio match Bloomberg’s improvements?: OPINION

    A look at ex-mayor's real estate hits and misses
    September 18, 2014 02:30PM
    From left: Michael Bloomberg, Bill de Blasio and the High Line in Chelsea, Manhattan

    From left: Michael Bloomberg, Bill de Blasio and the High Line in Chelsea, Manhattan

    Say what you will about Mayor Michael Bloomberg’s legacy, Steve Cuozzo wrote in a New York Post opinion piece, but the former mayor’s material improvements to the city are “extraordinary.” [more]

  • Housing starts fall in August after blockbuster July reading

    Pace of new construction comes in below most estimates
    September 18, 2014 02:05PM
    Home construction

    Home construction

    New construction on U.S. homes slumped unexpectedly in August after hitting a nearly seven-year high one month earlier.

    Housing starts came in at an annualized rate of 956,000, falling 14.4 percent from July’s revised reading of 1.12 million, according to Commerce Department data cited by Bloomberg News. Economists surveyed by the news service had expected a pace of between 995,000 to 1.12 million starts. [more]

  • Sales launch at HFZ’s Tribeca condo 11 Beach Street

    Five-bedroom pad asking $7.8M among the first to hit the market
    September 18, 2014 01:40PM

    Interior rendering of 11 Beach Street in Tribeca (Inset: Ziel Feldman)

    Developer Ziel Feldman’s HFZ Capital Group kicked off sales today for the 10-story Tribeca condo building at 11 Beach Street. [more]

  • Developers pay $43.5M for last Astoria Cove project lots

    But Alma Properties partnership still awaiting decision on land use review
    September 18, 2014 01:20PM
    Astoria Cove

    Astoria Cove

    The development partnership led by Alma Realty may not have its land use review for Astoria Cove approved just yet, but it now has all the property it needs to build the 2.2 million-square-foot Queens waterfront development. [more]

  • HAP files plans for 11-story building at 247 East 117th Street

    Building latest project in Harlem for developer
    September 18, 2014 01:00PM By E.B. Solomont


    The developer who’s bringing pink, blue and purple apartment buildings to Harlem is at it again.

    It’s unclear what color HAP Investments will choose next, but the developer filed plans for a new apartment building at 247 East 117th Street, according to documents filed Wednesday with the city’s Department of Buildings.


  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    September 18, 2014 12:50PM

    1. Goodbye bagels and Manhattans: Town is going across the pond
    2. Lender to put Trump Soho hotel up for sale
    3. Shake Shack to open in Herald Square in 2015

    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]

  • $85M air rights purchase pushes stalled MoMa tower ahead

    Houston developer Hines has also lined up construction loan with several Asian banks
    September 18, 2014 12:25PM By Rich Bockmann
    A rendering of Hines' MoMa tower

    Rendering of Hines’ MoMa tower

    With the purchase of some $85 million worth of air rights from its neighbors and a large construction loan in place, the developer of the long-stalled MoMa supertall tower said it is finally ready to put shovels in the ground.

    Houston-based Hines recently closed on two deals to buy more than 240,000 square feet of development rights from MoMa and the St. Thomas Episcopal Church for its Jean Nouvel-designed, 1,050-foot condo tower 53W53, property records show. The total purchase price worked out to $85.3 million. The 31,389 square feet of development rights from MoMa worked out to about $453 per foot, while St. Thomas’ 210,000 square feet of excess rights came in shy of $340 per foot. The developer declined to comment on the specifics of the transactions. An air-rights expert not affiliated with the deals said they were probably negotiated some time ago at different intervals. [more]

  • Silverstein signs Morningstar to 4 WTC space

    Investment research firm grabs 30,000 square feet
    September 18, 2014 12:00PM

    4 World Trade Center and Mary Ann Tighe

    Chicago-based investment research firm Morningstar has grabbed 30,000 square feet at Silverstein Properties’ 4 World Trade Center, according to the developer.

    The firm signed for 10 years on the 48th floor and is set to relocate by the middle of next year. Jeremy Moss, director of World Trade Center leasing at Silverstein, and a CBRE team that included Mary Ann Tighe, Evan Haskell, Steve Siegel and Adam Foster represented the landlord. CBRE’s Michael Liss represented the tenant. Morningstar’s current New York office is located on the 33rd floor of 1065 Sixth Avenue. [more]

  • Inside Rubin Schron’s New York real estate holdings

    Cammeby's president could be second-largest landlord in the region after the LeFrak Organization
    September 18, 2014 11:30AM
    Ruby Schron

    Rubin Schron

    Many people might not know the man behind roughly 15,000 units and a large collection of buildings across the city.

    While Rubin Schron, the 77-year-old president of Cammeby’s International and one of the city’s major property owners, has assembled a $1.6 billion fortune, he has never appeared on an international wealth ranking and has not named any of his buildings after himself. Among his properties is the Pueblo Nuevo, a Lower East Side building inhabited by residents who received rent assistance from the government, according to Bloomberg News. [more]

  • Hockey star Scott Gomez shoots for $23K monthly rent for pad

    Singer Nick Jonas and designer Marc Jacobs have rented 252 Seventh Avenue in the past
    September 18, 2014 11:00AM

    From left: 252 Seventh Avenue, unit PHR, in Chelsea, Noble Black and Scott Gomez

    Hockey player Scott Gomez, a free agent formerly with the New Jersey Devils, is looking to rent out his apartment at the Chelsea Mercantile for $23,000 per month. [more]

  • Remaking 11 Madison

    Blockbuster leases with Sony, Yelp and others at the Midtown South building have established it as a key hub of the tech scene
    September 18, 2014 10:30AM By Christopher Cameron
    From left: Tamir Sapir, 11 Madison Park and Richard Ressler

    From left: Tamir Sapir, 11 Madison Park and Richard Ressler

    From the September issue: Once known as the Metropolitan Life North Building, 11 Madison Park has had its share of ups and downs over the years. [more]

  • Disabled Bronx tenants sue landlord for alleged discrimination

    Residents allege that Goldfarb Properties is forcing them out of their apartments
    September 18, 2014 10:00AM
    From left: Pelham Parkway Houses in the Bronx and Letitia James

    From left: Pelham Parkway Houses in the Bronx and Letitia James

    A group comprised of disabled tenants in the Pelham Parkway buildings in the Bronx is claiming their landlord is pushing them out of their rent-stabilized apartments. [more]


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