The Real Deal New York

  • “Bankruptcy Baron” may live to buy again

    But for now James McGown is finally being forced to sell his Brooklyn buildings
    September 25, 2016 03:00PM TRD WEEKEND EDITION
    James McGown and 300 Van Brunt Street

    James McGown and 300 Van Brunt Street

    After years of fighting creditors, James McGown – the so-called “Bankruptcy Baron”— is seeing his real estate empire crumble. [more]

  • It’s a place to sleep, but is it art?

    A Bushwick street squatter says his sidewalk home is an art installation
    September 25, 2016 01:00PM
    Elias Avellaneda

    Elias Avellaneda and his art installation. Image credit: Photo by Frank Multari for Bushwick Daily.

    On the uber cool streets of Bushwick, even a homeless guy’s camp can become art. [more]

  • From the archive: Open houses on “crack”

    A once-sleepy ritual takes on new significance as buyers get desperate
    September 25, 2016 12:00PM By Hayley Kaplan
    TRD WEEKEND EDITION

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    Open houses have always been an important part of residential sales in New York City, but they’ve recently taken on a new significance due to the severe shortage of inventory in the city, brokers said.

    Often, desperate buyers are now packing into open houses, making on-the-spot offers and replacing a once staid experience with an atmosphere of frenzied competition. That means listing brokers often have only one shot to get the highest possible price for their listing. Buyers’ brokers, meanwhile, must navigate this ultra-competitive environment, with buyers eyeing each other suspiciously and even trying to prevent each other from making bids. Read the full story from the September 2013 issue here. 

  • Fire in celebrity-filled building ignites lawsuits

    The fire started in actress Amy Irving’s apartment last spring
    September 25, 2016 11:50AM TRD WEEKEND EDITION
    Amy Irving (image credit: Dimitrios Kambouris via IMDB), 75 Central Park West and Hank Azaria (image credit: Nick Aleck via Wiki Commons)

    Amy Irving (image credit: Dimitrios Kambouris via IMDB), 75 Central Park West and Hank Azaria (image credit: Nick Aleck via Wiki Commons)

    A fire that damaged several posh celebrity-owned apartments at 75 Central Park West last spring has now ignited a lawsuit. [more]

  • Inside TheRealDeal
  • China’s housing frenzy is still on

    September 25, 2016 10:00AM By Business Insider
    TRD WEEKEND EDITION
    Chinese Housing

    Housing under construction in China (image via the Chairman’s Boa)

    Home prices in China are “high and hard to accept,” said 53.7 percent of the respondents in a survey by the People’s Bank of China, published in the People’s Daily, the official paper of the Communist Party. Only 42.9 percent found them “acceptable.” And only 23.1 percent predicted that they would rise next quarter, while 11.9 percent expected them to fall. But that isn’t stopping people from wanting to participate in this frenzy. [more]

  • Sip a martini inside this incredible mid-century time capsule

    September 25, 2016 09:11AM TRD WEEKEND EDITION

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    From Luxury Listings NYC: “Slip on your smoking jacket, turn on the Sinatra and pour yourself a martini… you’re home!” declares the listing for Dallas’ “Smith House”, a mid-century modern home in Dallas that just hit the market. [more]

  • LPC considers landmark status for Midtown’s Ambassador Grill

    The disco-era interior has garnered many fans despite being closed for over a year
    September 24, 2016 05:00PM TRD WEEKEND EDITION

    Ambassador Grill

    Ambassador Grill

    It may be closed to public, but the Ambassador Grill restaurant inside the ONE UN New York hotel at East 44th Street and United Nations Plaza could soon become a landmark. [more]

  • Long Island Roaring 20s estate with gilding galore hits the market

    September 24, 2016 04:00PM TRD WEEKEND EDITION
     65 Dogwood Avenue in Roslyn Harbor

    65 Dogwood Avenue in Roslyn Harbor

    From Luxury Listings NYC: In 1926, Percy Pyne – the grandson of Moses Taylor, the director and president of City Bank of New York — bought the last large tract of farmland still available in Roslyn Harbor. There he developed a 90-acre estate that some 80 years later is back on the market for $5.8 million. [more]

  • MahaNakhon tower

    MahaNakhon tower

    The MahaNakhon tower was just completed in Bangkok’s financial district. It rises to more than 1,030 feet and is now the tallest building in the country. But more than height, it’s the tower’s striking architecture that is turning heads. [more]

  • Fairytale private island in Montana asking $39M

    September 24, 2016 01:00PM TRD WEEKEND EDITION

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    From Luxury Listings NYC: A private island that comes complete with its own humongous stone castle is on the market for $39 million. [more]

  • Citi Habitats kills partnership with Rentlogic

    The partnership lasted just eight days
    September 24, 2016 12:28PM TRD WEEKEND EDITION
    From left: Yale Fox and Gary Malin

    From left: Yale Fox and Gary Malin

    It looked like a victory for transparency in the rental market, but it was over basically before it started. Rentlogic, which provides renters with detailed information about their landlords and assigns them a letter grade, announced a partnership with Citi Habitats this month. The partnership lasted just eights days thanks to blowback from landlords.

    As the Real Deal previously reported, the partnership with Citi Habitats, which has around 18,500 listings in its database, meant that Rentlogic could signficantly expand its influence. [more]

  • Haute Hippie CEO sues over botched townhouse renovation

    The designer couple say a construction company made a mess of their Greenwich Village home
    September 24, 2016 12:01PM TRD WEEKEND EDITION
    Jesse Cole and Trish Westcoat-Pound and West 11th Street.

    Jesse Cole and Trish Westcoat-Pound and West 11th Street.

    The couple behind fashion boutique Haute Hippie are suing the construction company they hired to renovate their Greenwich Village townhouse. They allege that “virtually every aspect of the project” was a failure. [more]

  • The “new housing crisis” is already slowly being solved

    Supply shortfall and affordability constraint is a "new crisis" for housing.
    September 24, 2016 10:00AM By Business Insider
    TRD WEEKEND EDITION

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    The US housing market looks very different from its shape in 2008. It reached a breaking point and nearly cratered the financial system after mortgages were approved for too many people that were least likely to pay back on time.

    The crash left a lot of homeowners with negative equity — a situation where the value of their homes became less than the balance of the mortgage. But from the start of 2010 through the second quarter of 2016, the percentage of homes with a mortgage that went underwater — when the outstanding loan becomes higher than the value of the home — plunged from 25.9 percent to 7.1 percent, noted Jonathan Woloshin, a strategist at UBS. [more]

  • 1280_MDL_New

    From Luxury Listings NYC:
    It hasn’t been such a great year for coupledom. Just ask Beyonce and Jay Z, Lady Gaga and Taylor Kinney, or Taylor Swift and Tom Hiddleston. And hot on the heels of the earth-shattering Brangelina split, Americans definitely need something to restore their faith in love. BRAVO’s latest show, “Million Dollar Listing: Ryan’s Wedding,” a spin-off of the much beloved and hate-watched realty show, “MDNLY New York,” may not be that show. [more]

  • Say no to drugs: Pfizer building upzoning draws ire

    Say no to drugs: Pfizer building upzoning draws ire
    September 23, 2016 06:30PM By Kathryn Brenzel
    From left:

    From left: 235 East 42nd Street and outline of proposed Midtown East rezoning area

    If the Pfizer headquarters on East 42nd Street is redeveloped, it may get out of paying for some public improvements required under the Midtown East rezoning proposal. [more]

  • WATCH: NYC real estate’s week in numbers

    5 new lawsuits from Westfield, 59,895 after-hours permits and more
    September 23, 2016 06:20PM By Alistair Gardiner

    the week in numbers

    A $24 million price chop, 20 million square feet of office space and $885 million in Chinese capital fleeing the country — in real estate, it’s all about the numbers.

    To see the most important stats and figures from this past week, click here.

  • Ben Shaoul scores $195M loan for 196 Orchard

    Senior construction mortgage from SL Green for LES condo replaces previous financing
    September 23, 2016 06:05PM By Mark Maurer
    Rendering of 196 Orchard Street and Ben Shaoul (credit: Michael McWeeney)

    Rendering of 196 Orchard Street and Ben Shaoul (credit: Michael McWeeney)

    Ben Shaoul’s Magnum Real Estate Group secured a $195 million senior construction loan from SL Green Realty for its new Lower East Side condominium project next to Katz’s Deli, sources told The Real Deal. [more]

  • Aby Rosen shows off his lighter side on Instagram

    Opinionated developer shares travel, art and #TBTs on Instagram
    September 23, 2016 05:50PM By Kerry Barger

    A photo posted by abyrosen (@abyrosen) on

    (Editor’s note: This story first ran on February 1, 2015)

    In recent weeks, RFR Holding’s Aby Rosen has used his popular Instagram account to hold Donald Trump’s feet to the fire. But well before he asked America to vote its conscience, the investor’s Instagram was the epitome of the high life. [more]

  • SL Green refis 600 Lex with $125M Wells Fargo loan

    REIT bought out partner CPP in December
    September 23, 2016 05:30PM By Rich Bockmann
    Marc Holliday and 600 Lexington Avenue in Midtown

    Marc Holliday and 600 Lexington Avenue in Midtown

    SL Green Realty landed a $125 million loan from Wells Fargo to refinance 600 Lexington Avenue. [more]

  • Trump Hotels settles with AG over data breach

    Hotel operator will pay $50K in fines; breach affected properties such as Trump Soho, Trump Int’l Hotel & Tower
    September 23, 2016 05:15PM

    Trump Soho (credit: Trump Hotels) (inset from top: Donald Trump and Eric Schneiderman)

    Trump Hotel Collection agreed to a settlement with New York Attorney General Eric Schneiderman’s office over a data breach that exposed more than 70,000 credit-card numbers, the AG’s office said Friday.

    The breaches affected New York hotels such as Trump Soho at 246 Spring Street and Trump International Hotel & Tower at 1 Central Park West. Banks flagged Trump Hotel Collection as being a likely victim of data breaches in May 2015, according to the AG. [more]

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