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The Real Deal New York

  • Top residential agents of the week

    April 17, 2015 06:00PM
    David Kornmeier and 278 West 11th Street in the West Village

    David Kornmeier and 278 West 11th Street in the West Village

    David Kornmeier of Brown Harris Stevens topped this week’s residential sales with a $25 million townhouse at 278 West 11th Street in the West Village. Click here to see this listing and more.

  • The San Remo on the Upper West Side

    The San Remo at 145 Central Park West on the Upper West Side

    Shut it down: “30 Rock” director lists co-op. Demi Moore‘s San Remo penthouse asking $75 million sitting on the market. A look at the new developments hitting the market this spring. Read these stories and more after the jump.

  • Movies get starring role in lawsuits

    From “Casablanca” to “The Producers,” real estate lawsuits are cuing the drama
    April 17, 2015 05:00PM By Jennifer White Karp
    From left: Sang Dai and Hudson Rise

    From left: Sang Dai and Hudson Rise

    From the April issue: Lawsuits often come with their own theatrics, but a spate of recent New York real estate cases has invoked a different kind of drama: Show business. [more]

  • Corporate RE leaders mix it up at Museum of Natural History

    Industry pros join CoreNet for "the tenants' REBNY" annual gala
    April 17, 2015 04:30PM By Rich Bockmann
    From left: The American Museum of Natural History's blue whale, Jill Zunshine, CoreNet board member Lee Kosmac and Kenny Rodriguez

    From left: The American Museum of Natural History’s blue whale, Jill Zunshine, CoreNet board member Lee Kosmac and Kenny Rodriguez (credit: Greg Morris Photography)

    More than 900 real estate pros on the corporate-tenant side of the business spent a night at the museum Thursday evening as they enjoyed dinner and a few childhood memories at the American Museum of Natural History. [more]

  • Inside TheRealDeal
  • All workers at 1 Manhattan West to earn living wage

    Tenants at proposed Brookfield building will have to pay employees at least $13.30 an hour
    April 17, 2015 04:10PM
    From left: Ric Clark and Bill de Blasio

    From left: Ric Clark and Bill de Blasio

    All of the workers at Brookfield Property Partners’ proposed One Manhattan West, a 2.1 million-square-foot office tower at Hudson Yards, will be making at least $13.30 an hour.

    This deal marks the first agreement since Mayor Bill de Blasio signed an executive order last fall mandating a living wage for all workers involved in projects that receive subsidies from the city, the New York Times reported. The order mandates that Brookfield, which applied for tax breaks from the city to, finds tenants who will pay their employees a living wage. [more]

  • Asset management firm acquires four Lenox Hill office condos for $26M

    Units in mixed-use building last sold for $22M in 2013
    April 17, 2015 03:43PM By Rey Mashayekhi
    525 Park Avenue

    525 Park Avenue

    SRI LLC, a Midtown-based asset management firm, picked up four office condominium units in a mixed-use Lenox Hill building for $25.6 million, according to property records filed with the city Friday.

    The company closed on the four units, located in a 15-story building at 525 Park Avenue, last week. The roughly 100-year-old building, near East 61st Street, holds five offices totaling nearly 12,000 square feet, according to property records, and also houses 48 residential units. [more]

  • Madison Capital, partner to pay $400M for Scholastic’s retail

    Publisher to vacate more than 30K sf on bottom floors at Soho HQ
    April 17, 2015 03:06PM By Mark Maurer
    Madison Capital Scholastic

    From left: 549-555 and 557-559 Broadway in Soho, Helen Hwang and Richard Wagman (credit: Bisnow)

    Madison Capital won a bid to acquire a retail space spanning at least 32,000 square feet at the base of Scholastic’s corporate headquarters at 549-555 and 557-559 Broadway in Soho for $400 million, The Real Deal has learned. [more]

  • IPG inks huge expansion at Vornado’s 909 Third

    Ad giant signs up for further 112K sf; footprint in building now more than 330,000 sf
    April 17, 2015 02:40PM By Rich Bockmann
    From left: 1114 Sixth Avenue, 909 Third Avenue and Interpublic Group CEO Michael Roth

    From left: 1114 Sixth Avenue, 909 Third Avenue and Interpublic Group CEO Michael Roth

    The Interpublic Group, one of the “big four” global advertising shops, is expanding its Third Avenue footprint by more than 100,000 square feet, The Real Deal has learned. [more]

  • Here are 10 of NYC’s coolest new architecture projects

    837 Washington, Ingels' Dryline among projects recognized in Architizer A+ Awards: PHOTOS
    April 17, 2015 02:18PM By Kerry Barger
    Clockwise from top left: Hunter's Point South Park, One World Trade Center, 837 Washinton and The Dryline

    Clockwise from top left: Hunter’s Point South Park, One World Trade Center, 837 Washinton and The Dryline

    New York City can sometimes afford its residents little time to stand back and admire the places where we work, live and play. The folks over at Architizer, however, are paying close attention to some of the city’s hottest new projects.

    Click here to see which projects from the Big Apple where included as winners in Architizer’s third annual A+ Awards.

  • Mike Myers’ Soho duplex listed at $17M

    Comedian purchased 4,200 sf penthouse for $8M in 2007
    April 17, 2015 01:35PM
    72 Mercer Street

    Mike Myers and 72 Mercer Street

    Comedian Mike Myers’ groovy Soho duplex is on the market for just shy of $17 million, with the Austin Powers star seeking a healthy return on the apartment he bought for $8 million eight years ago. [more]

  • Little Italy Coney Island

    Sure, everyone knows Grand Central is in Midtown. But how well do you know New York’s other neighborhoods? Take our quiz to find out! Note: If you think Andrew Cuomo lives on Governor’s Island and that Jamaica is a four-hour flight away, this might be a tough one.

  • Community board zoning committee OKs proposed UWS church redevelopment

    Condo conversion plans at 361 Central Park West set for full board vote
    April 17, 2015 12:30PM
    361 Central Park West

    Ira Shapiro and 361 Central Park West

    A community board panel agreed to an exemption for a Manhattan developer’s plans to covert a landmarked Upper West Side church into a condominium, bringing the redevelopment another step closer to fruition.

    Community Board 7’s land use committee voted Wednesday to give 361 CPW the zoning exemption, with the developer’s plans for the 112-year-old church at 361 Central Park West now set to go before the full community board. [more]

  • #Boom or #bust? Join TRD’s Twitter chat today!

    Tweet questions, comments about our April 2015 cover story to #TRDchat
    April 17, 2015 12:00PM

    TwitterChat

    The Real Deal will pull back the curtains on this month’s issue story “When will the boom break?” during our second-ever Twitter chat today at 2 p.m.

    Reporter E.B. Solomont will be on hand to answer your questions about the current rise and potential fall of New York City’s booming real estate market. Tweet your questions to @ebsolomont and @trdny by using the hashtag #TRDchat.

    Catch up on your reading by visiting The Real Deal‘s April 2015 issue page, and keep an eye out for coverage regarding the current real estate cycle on TheRealDeal.com

  • Michael Strahan

    Michael Strahan

    Construction starts on Staten Island’s Empire Outlets. Michael Strahan checks out Naftali Group’s 210 West 77th Street. A peek at Williamsburg’s 81 Ten Eyck Street church conversion. Read these stories and more after the jump.

  • Shedding light on Sunnyside Yards

    Politicians and developers have eyed the Western Queens rail yard for three-quarters of a century
    April 17, 2015 11:00AM By Mark Maurer
    Sunnyside Yards

    Sunnyside Yards

    From the April issue: When Mayor Bill de Blasio called for the creation of 11,250 affordable housing units at Sunnyside Yards, he was unearthing an idea tossed around for more than 70 years. [more]

  • HFZ faces suit from rival developers over “the Bryant” hotel

    Plaintiffs are owners of the Bryant Park Hotel in the iconic 40 West 40th Street
    April 17, 2015 10:30AM
    Ziel Feldman, 20 West 40th Street and 40 West 40th Street

    Ziel Feldman, 20 West 40th Street and 40 West 40th Street

    Ziel Feldman’s HFZ Capital Group is facing a suit from the owners of the Bryant Park Hotel over plans to call its new hotel and residential project “the Bryant.” [more]

  • Aby Rosen’s RFR sells Frankfurt tower for $510M

    Buyer is IVG Immobilien AG
    April 17, 2015 10:00AM
    Aby Rosen and the Eurotower in Frankfurt, Germany

    Aby Rosen and the Eurotower in Frankfurt, Germany

    Aby Rosen’s RFR sold a tower in Frankfurt, Germany to IVG Immobilien AG’s institutional funds unit for $510 million. [more]

  • Some of NYC’s hottest RE tech startups using debt to grow

    Venture banks allow founders' flexibility and more control than VC funds: insiders
    April 17, 2015 09:30AM By Konrad Putzier
    Romito Ellis

    Left to right: VTS’ Nick Romito and Square 1’s Brad Ellis

    When the founders of leasing and portfolio management company VTS needed money to grow their firm, they had two choices: find another investor, or take out a venture loan. Like a growing number of real estate tech startups, they chose the latter. [more]

  • Council bill would boost construction worker pay on city-assisted projects

    Laborers would get a prevailing wage
    April 17, 2015 09:00AM
    Elizabeth Crowley and Jerilyn Perine

    From left: Elizabeth Crowley and Jerilyn Perine

    The City Council introduced union-friendly legislation Thursday that would grant a prevailing wage to construction workers employed on projects that are getting discretionary assistance from the city.

    The bill would be a boon to unions, as many developers would be forced to hire union workforces or at least give union-like benefits, but critics say that it could slow affordable housing development, according to Capital New York. [more]

  • Two Brooklyn landlords charged with driving out rent-stabilized tenants

    Joel and Aaron Israel accused of destroying homes with sledgehammers
    April 17, 2015 08:30AM
    From left: Joel and Aaron Israel and 324 Central Avenue in Bushwick

    From left: Joel and Aaron Israel and 324 Central Avenue in Bushwick

    Brooklyn landlords and brothers Joel and Aaron Israel are facing criminal charges including fraud, burglary, and unlawful eviction after they destroyed multiple rent-stabilized tenants’ homes in order to drive them out. [more]

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