The Real Deal New York

Glenn Rufrano

A sudden departure, like that of Glenn Rufrano last week from his post as CEO of Cushman & Wakefield, yields a lot of speculation. Though both Rufrano and Cushman have remained hush-hush about his exit, the Wall Street Journal reported that the answer for the move may lie in his relationship with the brokerage’s Italian parent company, Exor SpA.

It’s unlikely that Exor was unhappy with Rufrano’s work, the Journal said, but there may have been friction as Exor required Cushman to pay it dividends, rather than continuing its historical practice of investing funds back into the brokerage. [more]

A bank-owned home

Lenders are unloading bank-owned homes at an even faster clip than they were during the lead up to the real estate boom, according to data provided to The Real Deal by listings provider PropertyShark.

Banks and financial services firms such as Deutsche Bank, Wells Fargo and HSBC sold homes in Manhattan, Queens, Brooklyn and the Bronx in an average of 260 days in 2011, compared with 290 days in 2005 — a 10.3 percent difference, the most recent data show. See chart after the jump.

350 Madison

“Timeshare backyard” on Lower East Side sold for $5.7 million. CORE’s Shaun Osher eulogizes the late Jason Sheftell. A look at the 15 Central Park West condo listed for $85 million: PHOTOS. RFR Realty taps CBRE to exclusively market 350 Madison. For $3 million, supermodel Kylie Bax sells Tribeca duplex she designed herself. Read these stories and more after the jump.

A screenshot of the panel

TRD’s spring panel in Aventura, Fla., sprung a lively conversation among South Florida’s top developers about the humming state of the market and lingering concerns from the last bust. We were lucky enough to bring onstage Carlos Rosso of the Related Group; developer Avra Jain; Gil Dezer of Dezer Development; Kevin Maloney of New York-based Property Markets Group and Eric Trump of Trump Development. Click here to see the video and more.

Avishai Weiss

A new apartment search website is attempting to differentiate itself from competitors by offering users data on litigation associated with properties up for rent. Apartable today launched a building directory feature that provides renters with profiles of nearly 300,000 residential buildings in New York City, company founder Avishai Weiss told The Real Deal.

The goal is to give renters a sense of the overall market, the players in individual neighborhoods, and “more transparency into who you’re about to sign a lease with,” said Weiss, who previously worked in advertising. [more]

Jason Sheftell

Jason Sheftell, the New York Daily News real estate reporter and editor, was found dead today inside his West Village home. He was 46 years old. Police told the Daily News that the cause of death was still unclear, but a cousin told the paper that Sheftell appeared to be healthy.

“He had an enthusiasm and a zest for life that was infectious,” Colin Myler, the Daily News’ editor-in-chief, said. [more]

Cushman & Wakefield’s Steve Kohn and 444 West 55th Street

It’s a double play for Cushman & Wakefield, which arranged the sale of 444 West 55th Street, as well as $39 million in financing for the undisclosed buyer, the New York Observer reported.

The 100,000-square-foot property, which is located between Ninth and 10th avenues, is home to Cirkers Fine Art Storage and Logistics and Hutter Auction Galleries. [more]

BAM South rendering

UPDATED 6:13 p.m., June 17: The City Council is poised to green light the BAM South development today, WNYC reported. The mixed-use project, developed by Two Trees Management, will feature a 50,000-square-foot cultural center, a 20,000-square-foot public plaza and 300 units of housing. [more]

10 Morton Street in Greenwich Village

Rentals in demand is a weekly web feature looking at the most popular Manhattan neighborhoods and listings, based on calls and emails to brokers. Greenwich Village was the most in-demand neighborhood for tenants looking for a rental apartment in Manhattan in the last week, according to data from apartment listings website Zumper.

Rounding out the top five neighborhoods getting the most attention were, in order, the Upper West Side, West Village, Gramercy and a tie between Chelsea and Soho, the data show…. [more]

Dana Moskowitz and David Winoker

Winoker Realty, the Manhattan commercial brokerage whose president, David Winoker, was killed in a skydiving accident last year, has been rebranded as EVO Real Estate Group, the Wall Street Journal reported. The switch comes several months after the firm, which is now focusing on landlord representation, was acquired by a partnership of New York-area real estate principals. [more]