The Real Deal New York

  • Quaint farms are the hottest new way to market a house

    Because people love authenticity
    February 28, 2015 10:00AM By Business Insider
    A farm

    A farm

    Trend alert! The hottest new marketing trend for suburban housing developers is farms. They’re called “agrihoods,” and although they’ve been around since the 1980s, they are now becoming more popular with large developers, who are banking on farm-fresh food to lure people to their communities.

    “The mainstream development community has come to think of these as a pretty good way to build a low-cost amenity that people seem to like and that also adds authenticity,” resident Urban Land Institute fellow Ed McMahon told Bloomberg. [more]

  • 3 stellar designer wine cellars

    Today, wine storage is all about showing off
    February 28, 2015 09:19AM TRD WEEKEND EDITION


    From Luxury Listings NYC: Forget “The Casks of Amontillado,” these designer wine “cellars” aren’t hidden away in the basement. [more]

  • Top residential agents of the week

    February 27, 2015 06:00PM

    Lori Ben-Ari and 230 West 78th Street on the Upper West Side

    Lori Ben-Ari of CORE topped this week’s residential sales with an $11 million condominium unit on the Upper West Side. Click here to see this listing and more.

  • The week in renderings: 520 West 20th, 308 North 7th

    Here are some images of future NYC sites that caught our eye
    February 27, 2015 05:30PM

    From left: Renderings of 520 West 20th Street in Chelsea and 308 North 7th Street in Williamsburg (credit: Morris Adjmi and KBA, via New York YIMBY)

    Savanna’s Chelsea office building and Adam America Real Estate’s Williamsburg apartment building are among the latest projects to receive a new batch of renderings in the past week. Click here for a slideshow and more.

  • Inside TheRealDeal
  • Breakup: Kuafu Properties looks to dissolve partnership at Hudson Yards project

    Petition describes “deadlock” with partners Siras Development and Sean Ludwick, with “many millions” at stake
    February 27, 2015 05:09PM By E.B. Solomont and Kyna Doles
    Hudson Yards

    From left: Shang Dai, a rendering of Hudson Rise at 462-470 Eleventh Avenue, Saif Sumaida and Sean Ludwick

    A partnership between three upcoming developers looking to build a glitzy 47-story hotel and condominium in the Hudson Yards area is now in dire straits. Kuafu Properties, a New York-based Chinese development firm, is looking to cut ties with Sean Ludwick’s Blackhouse Development and Siras Development, a firm founded by Ludwick’s former partners Saif Sumaida and Ashwin Verma. [more]

  • Ira Rennert ordered to fork over $118M

    Jury finds mining magnate looted his firm to pay for $500M Hamptons estate
    February 27, 2015 04:35PM
    Ira Rennert's Hamptons compound (inset: Ira Rennert)

    Ira Rennert’s Hamptons compound (inset: Ira Rennert)

    A federal jury ordered billionaire Ira Rennert and his company to pay $118 million for looting his mining firm partially to help pay for a Hamptons megamansion. [more]

  • Sternlicht’s Starwood gets $500M loan for 85-hotel portfolio

    Firm to refinance extended-stay properties in 18 states
    February 27, 2015 04:00PM By Mark Maurer

    From left: Barry Sternlicht (credit: 1Hotels) and Dustin Stolly

    Barry Sternlicht’s Starwood Capital Group landed a $500 million loan to refinance 85 of its extended-stay hotels across 18 states, The Real Deal has learned.

    Credit Suisse provided the five-year, floating-rate loan for the InTown Suites portfolio, which includes nearly 10,800 hotel rooms. JLL’s Dustin Stolly, Bill Grice and Brett Rosenberg represented Starwood in the refinancing. [more]

  • “Divine Intervention” makes for award-worthy transaction

    Savills Studley's David Carlos and Ira Schuman are up for REBNY "Ingenious Deal" award
    February 27, 2015 03:30PM By Rich Bockmann
    Congregation Habonim and (clockwise from top right) David Carlos, Ira Schuman, Samvir Sindhu and Gary Barnett

    Congregation Habonim and (clockwise from top left) David Carlos, Ira Schuman, Samvir Sindhu and Gary Barnett

    By the grace of God, Savills Studley’s David Carlos and Ira Schuman managed to sell an Upper West Side Jewish congregation’s home to Extell Development and Megalith Capital Management for $45 million in December.

    Now, the brokers are hoping the deal gets the blessing of one of real estate’s highest powers. [more]

  • Brookfield taps Marketing Directors for Manhattan West rental

    Tower will have 844 units, 20 percent affordable
    February 27, 2015 03:00PM By E.B. Solomont

    435 West 31st Street and Andrew Gerringer

    The Marketing Directors will be in charge of leasing Brookfield Office Properties’ planned 62-story rental building on the Far West Side, The Real Deal has learned.

    The Manhattan West residential tower, located at 435 West 31st Street, will have 844 units, 20 percent of which will be affordable. The SLCE-designed tower is part of Brookfield’s seven million-square-foot development in the Hudson Yards complex. Plans for the development include the rental tower, a 60,000-square-foot plaza, five-star hotel and office buildings. [more]

  • Potential buyer pool for CushWake could be small: analysts

    Agnelli family doesn't want to sell to direct competitor
    February 27, 2015 02:30PM
    From left: Cushman's Edward Forst and Exor's John Elkann

    From left: Cushman’s Edward Forst and Exor’s John Elkann

    While the timing might be right to sell Cushman & Wakefield, the number of potential buyers is limited, according to analysts.

    The Agnelli family’s Exor SpA is selling the real estate services firm, which could fetch as much as $2 billion. It’s a good time to sell businesses that make money through real estate services, because their values are high and the economy is recovering, analysts told the Wall Street Journal. [more]

  • Architecture Review: Studio V’s 600 West 58th Street

    New Durst project is “well-behaved”
    February 27, 2015 02:00PM By James Gardner
    Rendering of 600 West 58th Street (Credit: Studio V)

    Rendering of 600 West 58th Street (Credit: Studio V)

    For those of us who grew up in New York in the 1970s, few transformations of the city seem quite as amazing at the development of the Far West Side, especially around 57th Street and 12th Avenue. Once a dangerous and undiscovered country, it is now awash in new buildings. [more]

  • Steven Soderbergh buys Tribeca condo for $8M

    Duplex at 7 Harrison Street features landscaped garden
    February 27, 2015 01:35PM

    From left: Steven Soderbergh, 7 Harrison Street in Tribeca and Leonard Steinberg

    Academy Award-winning filmmaker Steven Soderbergh picked up a three-bedroom Tribeca condominium unit for $8.3 million. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    February 27, 2015 01:00PM

    1. Saudi prince’s Trump Place triplex lists for $48.5M
    2. RXR floats idea of cruise-ship hotel at SuperPier
    3. Madison, Thor hope 212 address adds New York street cred

    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]

  • City seeking developers for 7 acres near JFK

    Land marketed for industrial or commercial development
    February 27, 2015 12:30PM
    The parcel in Springfield Gardens, Queens

    Aerial view of development site in Springfield Gardens in Queens

    New York City put out a new request for expressions of interest to purchase a fee interest or long-term lease and develop 7 acres of land near John F. Kennedy International Airport in Queens’ Springfield Gardens neighborhood.  [more]

  • Steiner switches from rentals to condos at East Village project

    Former home of Mary Help of Christians church to get 82 apartments
    February 27, 2015 12:00PM
    435 East 11th Street

    435 East 11th Street in the East Village (inset: Douglas Steiner)

    Douglas Steiner changed his plans for an East Village residential project to market-rate condominium units. The developer previously proposed to construct rentals with an affordable component on the site. [more]

  • Tamarkin to build 12-story condo building near High Line

    Property on West 29th Street slated to hold 32 apartments
    February 27, 2015 11:29AM By Claire Moses
    From left: 550 West 29th Street, Cary Tamarkin and a rendering of 508 West 24th Street

    From left: 550 West 29th Street, Cary Tamarkin and a rendering of 508 West 24th Street

    Architect and developer Cary Tamarkin filed plans today for a 12-story condominium building in West Chelsea. [more]

  • New rendering reveals 111 West 57th Street during nighttime

    The 1,420-feet, SHoP-designed building will have lights built into its terra cotta
    February 27, 2015 10:25AM
    Rendering of 111 West 57th Street  (Credit: SHoP)

    Rendering of 111 West 57th Street (Credit: SHoP)

    Nighttime has fallen over the latest renderings of JDS Development and Property Markets Group’s 111 West 57th Street. [more]

  • 155 Franklin Street in Tribeca

    155 Franklin Street in Tribeca

    What does listing language really mean? Taylor Swift has had quite a few celebrity neighbors. Time to say goodbye to Essex Market. Read these stories and more after the jump.

  • RLTY NYC’s Emir Bahadir buys $3.5M West Village condo

    Full-floor apartment includes two bedrooms and two bathrooms
    February 27, 2015 09:15AM
    From left: Emir Bahadir (Credit: Instagram) and 374 West 11th Street

    From left: Emir Bahadir (Credit: Instagram) and 374 West 11th Street

    Emir Bahadir, RLTY NYC co-founder and principal, has picked up a $3.5 million two-bedroom apartment. [more]

  • City could overhaul air rights transfer program

    Weisbrod said during a real estate panel that "all ideas are on the table"
    February 27, 2015 08:40AM
    From left: St. Bartholomew's Church  in Midtown and Carl Weisbrod

    From left: St. Bartholomew’s Church in Midtown and Carl Weisbrod

    The city is looking to reevaluate a program under which property owners can transfer unused air rights to others. [more]


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