The Real Deal New York

  • Here’s what the $10M-$20M NYC investment sales market looked like last week

    Colonnade Group buys an East Village condo project; Newmark Holdings acquires a Williamsburg resi building
    October 06, 2015 05:50PM By Kyna Doles
    75 First Avenue, Stefano Fasura of Colonnade Group and 285 North 6th Street

    From left: 75 First Avenue, Stefano Fasura of Colonnade Group and 285 North 6th Street

    From Lavin Development’s $18.2 million purchase in Chelsea to Coney Island Realty Group’s $15.1 million buy in Brooklyn,here is a recap of last week’s activity in the New York City’s investment sales market for properties between $10 million and $20 million.

  • CNBC’s Simon Hobbs sells West Chelsea pad for $3.9M

    Big Pharma exec Giovanni Caforio is the buyer
    October 06, 2015 05:15PM By Hiten Samtani
    Simon Hobbs and the apartment at 459 West 18th Street (Credit: Douglas Elliman)

    Simon Hobbs and the apartment at 459 West 18th Street (Credit: Douglas Elliman)

    Will he buy Apple stock with the proceeds?

    CNBC anchor Simon Hobbs, who accidentally outed Apple CEO Tim Cook during an interview last year, closed on the sale of his West Chelsea pad for $3.9 million. [more]

  • Korean fund buys minority stake in Minskoff’s 51 Astor

    $113M deal values Midtown South property at $600M
    October 06, 2015 05:10PM By Rich Bockmann
    James Yoohoon Jeon and Edward Minskoff

    James Yoohoon Jeon and Edward Minskoff

    The Korean Teachers’ Credit Union recently bought a minority stake in Edward Minskoff’s 51 Astor Place, a deal that values the futuristic-looking Midtown South office property at $600 million. [more]

  • Manhattan pads averaged just 73 days on the market in Q3

    Inventory spike and bidding wars mark an uptick in post-Labor Day activity
    October 06, 2015 04:30PM By E.B. Solomont
    Fred Peters and Lisa Lippman

    Fred Peters and Lisa Lippman

    From the October issue: The residential market is back from its summer break, and buyers and sellers who linger too long — or at all — could be left behind.

    Just how quickly are units going? The average Manhattan pad spent just 73 days on the market during the quarter that ended Sept. 30, according to new data from real estate appraisal firm Miller Samuel. That’s down more than 20 percent from both the prior quarter and the same quarter in 2014. [more]

  • Inside TheRealDeal
  • Related secures $200M loan for Hudson Yards resi tower

    JPMorgan provides financing for Ismael Leyva-designed 520 West 30th Street
    October 06, 2015 04:05PM By Rey Mashayekhi
    520 West 30th Street

    Rendering of 520 West 30th Street in Hudson Yards (credit: Related) (inset: Jeff Blau)

    UPDATED, 4:55 p.m., Oct. 6: Related Cos. secured a $200 million building loan from JPMorgan Chase for its 28-story Hudson Yards residential tower at 520 West 30th Street, property records show. [more]

  • Salesforce nears 300K sf deal at 3 Bryant Park

    Software giant to take MetLife's space at Ivanhoe Cambridge property
    October 06, 2015 03:37PM
    From left: 3 Bryant Park and Salesforce CEO Marc Benioff

    From left: 3 Bryant Park and Salesforce CEO Marc Benioff

    With MetLife planning to consolidate its offices at its namesake building, Salesforce is looking to sublease 300,000 square feet of the insurance giant’s digs at 3 Bryant Park. [more]

  • Panelists finalized for TRD’s SoFla Showcase on Oct. 15

    Top NY players will speak on the "New to Florida" panel
    October 06, 2015 03:16PM
    From left: Leonard Steinberg, Richard LeFrak, Ryan Serhant and Andrew Heiberger

    From left: Leonard Steinberg, Richard LeFrak, Ryan Serhant and Andrew Heiberger

    With The Real Deal’s second annual South Florida Showcase a little over one week away, we are pleased to announce the final lineups for the show’s three panels.

    The “New to Florida” panel includes key New York players Andrew Heiberger, founder and CEO of Town Residential; Peter Fine, president of To Better Days Development; Bess Freedman, executive vice president of Brown Harris Stevens; Ryan Serhant, broker at Nest Seekers International and star of Bravo’s “Million Dollar Listing New York” and Leonard Steinberg, president of Compass. [more]

  • Former Cushman exec files $40M gender discrimination suit

    Maria Sicola claims she wrongfully lost job to former DTZ chief economist
    October 06, 2015 02:45PM
    Maria Sicola Kevin Thorpe

    From left: Maria Sicola and Kevin Thorpe

    Cushman & Wakefield is facing its second gender discrimination suit from a top female executive in two years after Maria Sicola, the brokerage’s former head of research for its Americas division, filed a $40 million lawsuit Tuesday.

    Sicola was fired Oct. 2, the day before her 60th birthday, after nearly 35 years with Cushman & Wakefield. She was replaced by Kevin Thorpe, 39, who previously served as chief economist for DTZ – the global brokerage that closed its $2 billion merger with Cushman & Wakefield last month. [more]

  • 8 NYC real estate titans who landed on Forbes 400: VIDEO

    Related Cos.'s Stephen Ross highest-ranked among city-based players
    October 06, 2015 02:04PM By Kerry Barger
    Donald Trump

    Donald Trump

    If you waded through the tech whiz kids, media moguls and billionaire hedge funders on the Forbes 400 list of America’s richest people, you may have spotted a few familiar faces (and one particularly bronzed face) from the New York real estate industry. Click here for a video featuring all of the city-based real estate players who made the list.

  • Fortis files plans for seven townhouses at former LICH site

    Houses part of a larger redevelopment proposal
    October 06, 2015 01:22PM By Ariel Stulberg
    Lich Amity townhouses

    A rendering of the townhouses to be built on Amity Street in Cobble Hill (credit: Williams New York)

    Fortis Property Group filed permit applications for seven townhouses on Amity Street in Cobble Hill, despite that fact that discussions on a far-reaching rezoning proposal are ongoing.  [more]

  • Here were September’s priciest new listings in BK, Queens

    Homes in Boerum Hill and Forest Hills top the list
    October 06, 2015 01:00PM By Kathryn Brenzel
    From left: 36 Wendover Road in Forest Hills and 281 Henry Street in Brooklyn Heights

    From left: 36 Wendover Road in Forest Hills and 281 Henry Street in Brooklyn Heights

    With a listing price of $7.9 million, a seven-story Boerum Hill townhouse was the priciest Brooklyn single-family home to hit the market last month, according to listing service Point2 Homes. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    October 06, 2015 12:30PM

    1. Sizing up supertalls: Onward and upward
    2. Brookland ups scale of new Flatbush condo building
    3. Witkoff to offer concierge jet service at 111 Murray

    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]

  • Renderings, details released for 30 Warren condo in Tribeca

    Cape Advisors' 12-story project will house 23 units and ground-floor retail
    October 06, 2015 12:10PM
    30 Warren

    Renderings of 30 Warren in Tribeca (credit: Post-Office Architectes)

    Renderings and additional details have been released for Cape Advisors’ 12-story condo development at 149 Church Street in Tribeca, known as 30 Warren. [more]

  • Heatherwood plots 135-unit Greenpoint resi development

    Developer also planning 58-story LIC rental tower
    October 06, 2015 11:30AM By Rey Mashayekhi
    16-22 Eckford Street Brooklyn

    22 Eckford Street in Greenpoint

    UPDATED, 5:20 p.m., Oct. 6: Heatherwood Communities is targeting Greenpoint for its latest residential project in Brooklyn, with plans for a 135-unit rental building at 22 Eckford Street, according to permit applications filed Tuesday with the Department of Buildings.

    The Long Island-based developer is planning a seven-story building spanning more than 153,000 square feet of residential space, according to the filing. The project will include a 68-car enclosed parking garage, with amenities including a ground-floor lounge, game room and conference room. [more]

  • PR firm M. Booth moving HQ to Tishman Speyer’s 666 Third

    The new 35K sf digs will span one floor at the 32-story Chrysler East Building in Midtown
    October 06, 2015 11:00AM By Mark Maurer
    M. Booth NYC Office

    From left: 666 Third Avenue in Midtown, M. Booth’s Margi Booth and firm’s office at 300 Park Avenue South

    Public relations firm M. Booth & Associates is moving its headquarters to Midtown, with a new lease for 35,000 square feet at Tishman Speyer’s Chrysler East Building at 666 Third Avenue, The Real Deal has learned. [more]

  • City defends community preference in affordable housing

    De Blasio administration files motion to dismiss discrimination lawsuit
    October 06, 2015 10:34AM
    Zachary Carter Bill de Blasio

    From left: Zachary Carter and Bill de Blasio

    Is it discrimination to reserve 50 percent of new affordable housing units for local residents? The de Blasio administration thinks not.

    The city filed a motion in U.S. District Court to dismiss a lawsuit that seeks to end community preference, which argues the practice excludes African-American and Latino resident and reinforces de facto segregation. [more]

  • Ranking the best-funded tech startups with NYC digs

    The Real Deal looks at these growing companies' biggest office leases
    October 06, 2015 10:05AM By Mark Maurer

    NYC Startups Office

    From the October issue: The tech world has plunged into the “Uber economy” with force. But how much office space does Uber, the taxi-app start-up, actually have in New York City?

    This month, The Real Deal looked at the latest wave of startups in New York, from Uber to WeWork to the rapidly growing fantasy sports website DraftKings. [more]

  • Landmark status: privilege or burden?

    Residents bristle at possible Douglaston Historic District expansion
    October 06, 2015 09:32AM
    Douglaston Club

    The Douglaston Club at 600 West Drive

    Residents of Douglaston, Queens are up in arms over possibility their neighborhood could become a city landmark, fearing lower property values and a loss of control over their homes.

    The Landmarks Preservation Commission will consider a proposal this week to extend the Douglaston Historic District, part of an effort to clear a 95-item backlog at the agency. [more]

  • Meringoff and Riese co-marketing adjacent Midtown sites

    The pair are offering a combined 115,000 sf at Lexington Avenue at East 56th
    October 06, 2015 09:00AM
    Dennis Reise Meringoff

    From left: 681-685 and 677 Lexington Avenue (inset: Dennis Riese and Stephen Meringoff)

    Meringoff Properties and the Reise Organization are partnering to sell two adjacent Midtown buildings as a single development site, attempting to capitalize on the city’s building boom. [more]

  • Tishman Speyer pays out $25M to Hudson Yards holdouts

    "Most feared tenant attorney" David Rozenholc strikes again
    October 06, 2015 08:32AM
    Hudson Yards

    A rendering of Hudson Yards (inset: David Rozenholc and Rob Speyer)

    A pair of dogged, enterprising tenants – or system-exploiting jerks, depending on your point of view – won a massive settlement from Tishman Speyer for finally vacating their West Side pad. [more]