The Real Deal New York

  • Trump sues celeb chef for backing out of DC hotel project

    Jose Andres claims the Donald's comments on immigrants made partnership "impossible"
    August 04, 2015 01:50PM
    Andres Trump

    From left: Jose Andres and Donald Trump

    Donald Trump is suing celebrity chef Jose Andres for $10 million after Andres backed out of the Trump International Hotel project in Washington, D.C., in the wake of the GOP presidential candidate’s comments on Mexican immigrants.

    Andres recently scrapped plans to open a restaurant at the $200 million luxury hotel development in D.C., claiming that Trump’s comments labeling Mexican immigrants as criminals and rapists made it “impossible” to partake in the project. [more]

  • City considering rezoning former LICH site

    Council member seeks compromise between developer Fortis and residents
    August 04, 2015 01:25PM
    Rendering of the new development of the former Long Island College Hospital site in Cobble Hill and Council member Brad Lander (inset)

    Rendering of the new development of the former Long Island College Hospital site in Cobble Hill and Council member Brad Lander (inset)

    The site of the former Long Island College Hospital is at the center of rezoning fight involving developer Fortis Property Group, local residents, and the City Council. [more]

  • July DOB report: Development in the Bronx breaks out

    Borough accounted for the majority of planned residential units filed with DOB in July
    August 04, 2015 01:01PM By Will Parker

    4-months-DOB

    Plans for a Donald Trump luxury clubhouse and two massive affordable housing buildings were filed with the Department of Buildings on the same day in July, and all three were in the Bronx. With land availability and prices far below those of neighboring Manhattan, the Bronx is becoming a zone of real estate extremes, and developers are moving in fast. [more]

  • Spinola joins board of Lightstone REIT

    Former REBNY prez stepped down at the end of June
    August 04, 2015 12:32PM By Rich Bockmann
    David Lichtenstein and Steven Spinola

    David Lichtenstein and Steven Spinola

    A little more than a month after stepping down as the longest-serving president at the Real Estate Board of New York, Steven Spinola is getting back to work.

    Spinola, who stepped down at the end of June after nearly 30 years heading the influential trade organization, is taking a role as the independent director on the board of governors at a real estate investment trust run by the Lightstone Group, the company told The Real Deal. [more]

  • Inside TheRealDeal
  • The Plaza Hotel at 768 Fifth Avenue in Midtown

    The Plaza Hotel at 768 Fifth Avenue in Midtown

    Embattled developer Jonathan Winston’s former Plaza Hotel spread is hitting the auction block after falling into foreclosure.

    An LLC with links to Winston’s wife, Eve, acquired the two-bedroom unit at the iconic hotel for $6.5 million in 2009. But the LLC fell behind on loan payments and now Eve is on the hook for more than $1 million in unpaid loans, since she personally guaranteed the mortgage. [more]

  • The Long Island city apartment in question

    Long Island City “squatter” apartment (credit: Airbnb)

    “Squatter” lists rent-controlled apartment on Airbnb. Gluten-free dining sweeping the Upper East Side. $13 million renovation for Upper West Side homeless shelter. Read these stories and more after the jump.

  • Vornado buys Otis Elevator Building on Far West Side

    REIT planning to turn the West Chelsea property into office space
    August 04, 2015 11:20AM
    The Otis Elevator building at 260 Eleventh Avenue (credit: Kate Leonova)

    The Otis Elevator building at 260 Eleventh Avenue (credit: Kate Leonova)

    Vornado Realty Trust is the new owner of the Otis Elevator Building at 260 11th Avenue, a bet on growing office demand in the neighborhood. [more]

  • Sign up for TRD’s new real estate database

    Get listed in front of 2.1 million monthly visitors
    August 04, 2015 10:50AM

    Real Estate Pro Directory

    The Real Deal’s newly launched real estate professional database will make navigating the New York City market a breeze.

    The new directory is a searchable database featuring the city’s brokers, appraisers, mortgage bankers and other real estate professionals. It is powered by commercial mortgage brokerage Eastern Union Funding.

    Want your name on the list? Click here to submit your information and get found by 2.1 million monthly visitors.

  • Does social media make any difference for resi firms?

    Question marks remain over medium's effectiveness
    August 04, 2015 10:20AM By E.B. Solomont

    social-media-From the August issueThe day after mega brokerage Douglas Elliman launched its new 300-plus-page magazine this spring, its top executives and brokers took to social media. 

    Top producer Frances Katzen posted a photo of herself with boot-clad feet propped up on her desk holding the tome, which featured supermodel Naomi Campbell on its cover. Meanwhile, Hamptons broker Jessica Cohen shared a shot of herself reading her copy poolside with her dog in hand.

    But those viral campaigns are few and far between for most firms. And while everyday social media may now be an integral (and mandatory) part of every New York City firm’s business strategy, there is still a very large question mark surrounding how effective it actually is. [more]

  • Eataly likely to open at 4 WTC by year’s end

    Gourmet food hall to take up 41,000 square feet
    August 04, 2015 09:41AM
    From left: 4 World Trade Center and Mario Batali

    From left: 4 World Trade Center and Mario Batali

    Buon appetito! The long-awaited Downtown Eataly outpost is most likely opening before Christmas. [more]

  • Legal fight over Washington Heights’ first hotel

    Hotel Cliff’s sales agreement under dispute
    August 04, 2015 09:15AM
    Hotel Cliff, under construction

    Hotel Cliff, under construction

    The grand opening of Washington Heights’ first hotel wouldn’t be complete without a bit of legal wrangling. [more]

  • Worker injured at Brookfield’s Manhattan West site

    Worker pulled out by bucket crane
    August 04, 2015 08:40AM
    Manhattan West construction site

    Manhattan West construction site

    A construction worker suffered serious injuries after he plummeted 40 feet to the ground at the Manhattan West development site on the Far West Side on Monday.

    The man — who hasn’t been identified — fell off one of the buildings that’s rising at Brookfield Property Partners’ massive project, according to the New York Post. [more]

  • Chain stores and high rents batter bodegas

    Some small groceries are closing, others are struggling
    August 04, 2015 08:10AM
    bodegas

    A bodega on Lexington Avenue

    That staple of New York culture, the humble bodega, might be under threat. [more]

  • Most popular stories on The Real Deal

    August 04, 2015 07:30AM

    Current reader favorites:
    1. New York City CMBS issuance explodes in 2015, reaches post-crisis record
    2. The Collectors
    3. A Spanish artist’s vision for sustainable architecture is straight out of the future
    4. Major REITs “got killed” in Q2
    5. Take a tour of the most expensive house for sale in America

  • The new Whitney Museum

    Donald Trump‘s cell phone number.  Pavilion Theater condos landmark hearings pushed back to Aug. 18. Los Angeles landlord Alameda Square Owner reduces American Apparel‘s rent. Read these stories and more after the jump.

  • Bauhouse Group assembles 3 Sutton air rights for $38M

    Deal will net additional 109k buildable sf for controversial tower
    August 03, 2015 05:30PM By Rich Bockmann
    A rendering of 3 Sutton and Joseph Beninati (credit: Foster & Partners)

    A rendering of 3 Sutton and Joseph Beninati (credit: Foster & Partners)

    UPDATED, 11:00 a.m., Aug. 4: The Bauhouse Group recently assembled a block of development rights near its planned Norman Foster-designed condo tower at 3 Sutton place for almost $38 million, records show.

    The Joseph Beninati-led development firm purchased air rights and easements from five different properties for $37.9 million, stockpiling an additional 109,000 buildable square feet to the development site it purchased at 428-432 East 58th Street. [more]

  • Good luck finding office space in Midtown East

    Availability rates in the submarket are second-lowest in Manhattan
    August 03, 2015 05:16PM
    From left: 909 Third Avenue, 750 Third Avenue and 919 Third Avenue

    From left: 909 Third Avenue, 750 Third Avenue and 919 Third Avenue

    The hotter-than-hot Downtown and Midtown South office markets better watch out — Midtown East has arrived. [more]

  • People earning nearly six figures eligible for City Point affordable housing

    150 of 200 affordable units reserved for those making 146 percent of area median income
    August 03, 2015 04:45PM
    citypoint

    Rendering of City Point in Downtown Brooklyn

    A Brooklyn apartment tower is giving new meaning to the concept “affordable.”

    A lottery for available units at City Point 1 in Downtown Brooklyn opened last week. Three quarters of the building’s 200 units will be reserved for those making up to 165 percent of the median income in the area or $142,395 annually for a family of four, according to DNAinfo. [more]

  • Gladstone’s Madison Equities in contract for 45 Broad Street

    Downtown property has nearly 265,000 sf of development rights
    August 03, 2015 04:21PM By Hiten Samtani and Adam Pincus
    Gladstone

    From left: Andrew Scandalios, 45 Broad Street, rendering of 45 Broad and Robert Gladstone (credit: Richard Lewin)

    UPDATED, 4:55 p.m., August 3: Robert Gladstone’s Madison Equities is in contract to purchase a Lower Manhattan development site at 45 Broad Street, which could give rise to a project of nearly 265,000 square feet, The Real Deal has learned. [more]

  • Stuart Elliott

    Stuart Elliott

    From the August issue: It’s the New York City real estate version of President Nixon visiting China, opening up East-West relations during his historic visit to the Communist country in the 1970s.

    Maybe that’s a slightly lofty comparison, but that’s how excited we are about The Real Deal’s inaugural U.S. Real Estate Showcase & Forum in Shanghai next month. [more]

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