The Real Deal New York

  • Scarsdale locals want their mansions valued like it’s the 1970s

    And they’re fighting their 2014 assessments tooth and nail
    August 29, 2015 04:00PM TRD WEEKEND EDITION


    Last year, Scarsdale homeowners saw their properties revalued for the first time since President Richard Nixon first took office. Naturally, that added a lot in taxable value — $1.1 billion to be exact. And, of course, residents are still challenging the new assessments, to some avail. [more]

  • Bridgehampton estate is back, this time at $30M

    The house was asking $32M back in 2009
    August 29, 2015 03:00PM TRD WEEKEND EDITION

    The Bridgehampton estate

    A frequently flipped Bridgehampton estate is back on the market this time asking $30 million. [more]

  • From the archives: From real estate to prison

    Agent's conviction shows how state, industry deal with criminal cases
    August 29, 2015 02:00PM TRD WEEKEND EDITION

    Wallkill Correctional Facility and Steven Spinola

    Agent Courtney Wall was slated to meet a client to finalize a rental deal on the morning of Aug. 29, 2005, when his life changed forever. “There’s been a little bit of a problem,” Wall told the client over the phone when city detectives showed up to arrest him. “I’m going to have to send someone else.”

    Wall, now 34, had a few minutes to gather his things, and then he was off to jail. The charge: jumping bail on earlier felony burglary charges. He later pleaded guilty and was sentenced to six years in prison. Read the full story from the August 2010 issue after the jump. 

  • Where have all the galleries gone?

    Mapping NYC's ever-shifting art gallery scene
    August 29, 2015 01:00PM TRD WEEKEND EDITION
    A map of NYC's art galleries

    A map of NYC’s art galleries

    From Luxury Listings NYC: Chelsea is the center of the art world in New York, right? Well almost. According to data from NYC Open Data, the zip code with the largest number of art galleries is — surprise — 10021, or the area from roughly 69th to 76th street on the Upper East Side. [more]

  • Inside TheRealDeal
  • Only one Blarney Stone pub remains in all of NYC

    Irish pubs across the city are struggling to adapt to changing tastes
    August 29, 2015 12:00PM TRD WEEKEND EDITION


    Chic speakeasies and gourmet eateries are putting NYC’s Irish pubs out of business. As of this week, the Blarney Stone at 11 Trinity Place is the last location left in NYC. [more]

  • Even more MoMA tower floor plans are out

    Check out the 55th and 72nd floors after the jump
    August 29, 2015 11:00AM TRD WEEKEND EDITION

    Jean Nouvel and the MoMA tower

    Last year, The Real Deal uncovered the floor plans of the penthouse units of the Jean Nouvel-designed MoMA tower, at 53 West 53rd Street. Now, official plans for three other units are out. [more]

  • Queens is hot — and tourists are taking note

    Tourism is up 12 percent in Queens
    August 29, 2015 10:00AM By Business Insider


    The fact that tourists have been increasingly flocking to Brooklyn over Manhattan is well known. But Queens, one of the most diverse spots in the world, has silently ascended, even going so far as to be named the top travel destination in the US by Lonely Planet for 2015.

    The number of people visiting Queens has, in fact, increased by 12 percent in the last few years. And of the 54 million people who visited New York City, over 12 percent of them made a stop in Queens. [more]

  • 7 Park Avenue apartments fit for a Princess

    Check out the slideshow after the jump
    August 29, 2015 09:30AM TRD WEEKEND EDITION
    Michael Nouri and Kristina Kovalenko at the Princess Grace Awards Gala and Park Avenue

    Michael Nouri and Kristina Kovalenko at the Princess Grace Awards Gala and Park Avenue

    From Luxury Listings NYC: In honor of Russian Princess Kristina Kovalenko — she of the $6,500 lunch at Nello’s, the craziest signature cocktail ever (a $5,000-a-bottle Louis XIII Remy Martin cognac with apple juice)  and a new $11 million Park Avenue listing — we present these other Park Avenue palaces on the market right now that are positively royal. [more]

  • Top residential agents of the week

    August 28, 2015 06:07PM
    From left:

    From left: Ginger Brokaw, Jason Karadus and 1355 First Avenue on the Upper East Side

    Ginger Brokaw and Jason Karadus topped this week’s residential sales with a $37.9 million condo at 1355 First Avenue on the Upper East Side. Click here to see this listing and more.

  • Tracy Morgan (inset) bought an Alpine, N.J., mansion for $14 million

    Alpine, N.J., mansion (inset: Tracy Morgan)

    Queens tourism booming with 47 new hotels planned. Tracy Morgan buys $14 million mansion in Alpine, N.J. Robert Ivanhoe talks Crown Building deal, Chinese buyers. Read these stories and more after the jump.

  • Onex secures $152.5M construction loan for Flushing site

    Vacant parcel is part of Sky View Parc complex's second phase
    August 28, 2015 05:40PM By Kyna Doles
    Sky View Parc

    Rendering of Sky View Parc

    Onex Real Estate Partners scored $152.5 million in construction financing from the Bank of the Ozarks for a Flushing development site.

    The site is located at 135-10 Roosevelt Avenue, between Prince and Main streets — several blocks from Onex’s Sky View Parc complex along College Point Boulevard and 40th Road. Property records reveal the vacant land is part of the second phase of development for the Sky View Parc project, although it’s not clear what Onex has planned for the site. [more]

  • City could foreclose on thousands of properties with “in rem” filings

    Move targets owners in four boroughs who have ignored financial obligations
    August 28, 2015 05:10PM
    From left: Alicia Glen (credit: Max Dworkin) and Jacques Jiha

    From left: Alicia Glen (credit: Max Dworkin) and Jacques Jiha

    The city filed “in rem” actions against building and apartment owners in Manhattan, Brooklyn, Queens and the Bronx that could lead to the foreclosure of thousands of properties that owe taxes.

    The filing challenges tax classes 1 and 2 in four of the New York City boroughs, giving property owners various deadlines this fall to either pay what they owe or sign installment agreements. [more]

  • Triangle files permits for Lighthouse Point

    Staten Island mixed-use tower to feature 116 apartments
    August 28, 2015 04:43PM By Konrad Putzier and E.B. Solomont
    Lighthouse Goldman

    From left: Elysa Goldman and a rendering of Lighthouse Point (Credit: Triangle Equities)

    Triangle Equities filed permits for its long-stalled Lighthouse Point project on Staten Island on Friday.

    The developer is looking to build a 16-story, 145,000-square-foot, mixed-use tower at 35A Bay Street in the St. George neighborhood. It will feature 116 apartments and 47,207 square feet of commercial space, including three stories of retail. Aptsandlofts will be marketing the market-rate units. [more]

  • Westchester’s priciest home just got pricier

    Renovated 98-acre property now asking $36M after design alterations
    August 28, 2015 03:45PM
    Rendering of the 98-acre property in Mount Kisco, N.Y. (credit: Twin Oaks)

    Rendering of the renovated 98-acre property in Mount Kisco, N.Y. (credit: Twin Oaks)

    Westchester’s priciest home just got pricier, after developers renovating the century-old house decided to re-list it with a different broker for $36 million. [more]

  • Newmark messes with Texas

    Brokerage sues Houston-based Transwestern and Jonathan Tootell, alleges breach of contract
    August 28, 2015 03:15PM By Konrad Putzier
    Kuhn Tootell

    From left: Jimmy Kuhn, Jonathan Tootell and Lindsay Ornstein

    Newmark Grubb Knight Frank is suing one of its former brokers, Jonathan Tootell, claiming that he breached his contract with the firm when he jumped ship to rival Transwestern. [more]

  • IFC Center to double its size, add six screens

    West Village movie theater will grow from 10K sf to 20K sf
    August 28, 2015 03:00PM
    4809449921_d1cf9f75c0_b copy

    The IFC Center at 323 6th Street in the West Village (inset: William and Rick Friedland)

    Grab the popcorn.

    The indie film company filed plans to expand its IFC Center theater at 323 Sixth Avenue, doubling the size of the space, from just over 10,000 square feet to just over 20,000, and more than doubling the number of screens, from 5 to 11. [more]

  • Creed frontman’s former SoFla home hits the market

    Local cosmetic surgeon asking $6M for Boca Raton mansion
    August 28, 2015 02:23PM By Sean Stewart-Muniz
    The home at 8812 Twin Lake Drive (Credit: © Edward Butera | ibi designs inc. | Boca Raton | Florida) and Scott Stapp, former Creed lead vocalist (Credit: creative commons user Lunchbox LP)

    8812 Twin Lake Drive (Credit: © Edward Butera | ibi designs inc. | Boca Raton | Florida) and Scott Stapp (Credit: Creative Commons user Lunchbox LP)

    From the South Florida website: The former Boca Raton mansion of troubled Creed vocalist Scott Stapp has hit the market with an asking price of $5.95 million. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    August 28, 2015 02:04PM

    1. Are NYC’s office brokers neglecting startups? 
    2. Multifamily divided: Aaron Jungreis sues nephew Raphael Toledano
    3. Buyer to spend record $6.5M on PH at Xinyuan’s the Oosten

    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]

  • Ready and Able: LI developer closes on Jamaica parcel, files hotel plans

    Hilton Garden Inn will house 225 rooms across 125K sf
    August 28, 2015 01:25PM By Rey Mashayekhi

    Rendering of 93-47 Sutphin Boulevard in Queens (credit: GF55)

    UPDATED, 4:30 p.m., Aug. 28: Able Management Group closed Monday on its acquisition of 93-47 Sutphin Boulevard in the Queens neighborhood of Jamaica, and subsequently filed plans Friday for its new 27-story hotel development on the site.

    The Long Island-based developer, led by CEO Viral Patel, closed on its purchase of the property from the Greater Jamaica Development Corp. for an undisclosed amount, according to a source with knowledge of the deal – allowing the developer to push forward with a planned Hilton Garden Inn on the site.

    The development is slated to hold 225 rooms across 125,000 square feet, with amenities including a pool, fitness room and lobby restaurant and bar. The hotel’s rooftop will also house a bar and terrace. [more]

  • FHA opens window to more borrowers

    New approach could create a pathway for as many as 75K to 100K new loans a year
    August 28, 2015 01:05PM By Kenneth Harney
    Mortgage Bankers

    From left: David Stevens and Clem Ziroli

    If you’ve got a low FICO credit score but believe you can handle monthly mortgage payments instead of rent, here’s some potentially good news: The government is now willing to give you a better shot at obtaining a low-down-payment home loan from the Federal Housing Administration.

    Under a key policy change that took effect last week, lenders nationwide now have more leeway to approve mortgages to borrowers who qualify under FHA’s underwriting guidelines but may have below-par FICO scores. [more]