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The Real Deal New York

  • FiDi rules Manhattan’s new development roost: report

    Of all new units in contract or closed, 25 percent were in Brooklyn
    March 31, 2015 06:00PM By Claire Moses
    388 Bridge Street 51 Jay Street

    From left: 388 Bridge Street in Downtown Brooklyn and a rendering of 51 Jay Street in Dumbo

    Almost half of the new development listings in the two boroughs priced at $10 million or more during the first quarter of 2015 were located in Lower Manhattan, rather than Midtown and other traditional bastions of wealth, according to Halstead Property Development Marketing’s inaugural new development report. In comparison, Billionaires’ Row houses 20 percent of the units at that price point. [more]

  • Rendering of 107-125 King Street in Red Hook (credit: AA Studio)

    Rendering of 107-125 King Street in Red Hook (credit: AA Studio)

    A peek at planned Red Hook townhouses. Pop-up theater coming to Hudson River Park. David Beckham’s neighbors upset over air conditioning plans. Read these stories and more after the jump.

  • Dolly Lenz in, Ryan Serhant out at Ritz-Carlton mega-penthouse

    Three-unit combination pad was asking $118M; now two-unit combo asks $75M
    March 31, 2015 05:10PM By Christopher Cameron
    From left: Ryan Serhant, 10 West Street and Dolly Lenz

    From left: Ryan Serhant, 10 West Street and Dolly Lenz

    From Luxury Listings NYC: A three-unit combination at the Ritz-Carlton that once held the mantle of the city’s priciest listing has dropped Ryan Serhant in favor of Dolly Lenz, and is back on the market as a two-unit combination asking $75 million. [more]

  • East Harlem business owners await eminent domain decision

    Area will no longer be "black capital of the world" if city has its way, plaintiffs' attorney argues
    March 31, 2015 04:54PM By Tess Hofmann
    213-223 East 125th Street in East Harlem (inset: Adam Leitman Bailey)

    213-223 East 125th Street in East Harlem (inset: Adam Leitman Bailey)

    Small business owners in East Harlem are anxiously awaiting a New York State Supreme Court decision on their fate, after they sued the city for attempting to seize the land where they operate through eminent domain. An attorney for the plaintiffs describes the city’s actions as racist. [more]

  • Inside TheRealDeal
  • Howard Hughes strikes deal with Edison that allows it to develop large Seaport building

    Combined properties hold 500k sf of development rights
    March 31, 2015 04:20PM By Rich Bockmann
    David Weinreb and the Howard Hughes Corp. development site (photo credit Max Dworkin)

    David Weinreb (credit Max Dworkin) and the Howard Hughes Corp. development site

    The Howard Hughes Corp. has struck a deal with Edison Properties that allows the former to build a large mixed-use building straddling the border of the South Street Seaport Historic District, according to sources familiar with the transaction.  [more]

  • Airbnb drives up NYC rents by $6 per month: report

    Short-term rental service gives slight price boost in some major US cities
    March 31, 2015 03:56PM
    Airbnb Prices

    Thomas Davidoff and Airbnb founders

    Airbnb gives a slight boost to average rents in some major cities in the U.S., according to a University of British Columbia professor’s study commissioned by the short-term rental company. [more]

  • Planned Parenthood relocating to ARC’s 123 William Street

    Nonprofit is selling its 70K sf condo at 434 W 33rd St.
    March 31, 2015 03:18PM
    From left: 123 William Street in Lower Manhattan and 434 West 33rd Street on the West Side

    From left: 123 William Street in Lower Manhattan and 434 West 33rd Street on the West Side

    Planned Parenthood is ditching its current office condominium on Manhattan’s West Side and leasing a space in Lower Manhattan at American Realty Capital’s 123 William Street.

    The reproductive health nonprofit’s new lease is a 15-year deal for 65,000 square feet on the ninth through 11th floors of 123 William Street, according to Crain’s.  [more]

  • Photo of the day: Ed Minskoff hangin’ with Magic Johnson

    The developer and the NBA legend were supporting the Michigan State Spartans against Louisville
    March 31, 2015 03:03PM
    Ed Minskoff and Magic Johnson at the Elite Eight matchup (Credit: Bleacher Report)

    Ed Minskoff and Magic Johnson at the Elite Eight matchup (Credit: Bleacher Report)

    Minskoff Equities’ Ed Minskoff was spotted at the Elite Eight matchup between Louisville and Michigan State on Sunday.

    Minskoff and NBA legend Magic Johnson were both supporting the Spartans, who were forced into overtime by Louisville, but ultimately prevailed 76-70. [Bleacher Report]

     

     

  • Blackstone raises $14.5B for real estate fund

    $1.3B more from individuals could be in the pipeline
    March 31, 2015 02:11PM
    From left: Jon Gray and Steve Schwarzman

    From left: Jon Gray and Steve Schwarzman

    Blackstone Group raised $14.5 billion from institutions for a forthcoming real estate investment fund and plans to raise another $1.3 billion from individuals.

    Blackstone, the world’s biggest alternative asset manager, has had enormous success with its existing real estate investment vehicles, according to Bloomberg News. Its seven previous global property funds have doubled their invested capital, with returns of 18 percent since 1994. The firm oversees $81 billion in real estate assets. [more]

  • Revealed: Citigroup headquarters at 388-390 Greenwich Street

    Transformation of the SL Green building is expected to take five years
    March 31, 2015 01:30PM
    Renderings of 388-390 Greenwich Street in Tribeca

    Renderings of 388-390 Greenwich Street in Tribeca (credit: Citigroup via Tribeca Citizen)

    New renderings of Citigroup’s planned headquarters at SL Green Realty’s 388-390 Greenwich Street on the Hudson River show that the buildings will be getting a curtain-walled makeover. [more]

  • Bill would require a city planner to attend every community board meeting

    Council member Ben Kallos to propose that borough presidents' offices get planning department
    March 31, 2015 12:50PM
    NYC Urban Planners

    From left: Ben Kallos and earlier Midtown East rezoning plan

    City Council member Ben Kallos plans to introduce a bill today requiring that a city planner attend every meeting held by the city’s 59 community boards.

    Kallos said the bill intends to give communities a more active role in the land use review process, the Gotham Gazette reported. The bill would form a planning department in the five borough president offices. There would be at least one professional urban planner on staff for each community board. [more]

  • 10 brilliant ideas for the skyscraper of tomorrow: PHOTOS

    Here are the winners of eVolo Magazine's 10th annual skyscraper competition
    March 31, 2015 12:15PM
    A design by Shi Yuqing, Hu Yifei, Zhang Juntong, Sheng Zifeng, He Yanan, China (Credit: eVolo Magazine)

    A design by Shi Yuqing, Hu Yifei, Zhang Juntong, Sheng Zifeng, He Yanan, China (Credit: eVolo Magazine)

    The sky is the limit. Literally. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    March 31, 2015 12:00PM

    1. Revealed: A new look for JDS and PMG’s 111 West 57th Street
    2. 10 Sullivan jumps from Corcoran to Elliman
    3. Chinatown comes into its own

    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]

  • NY state budget gives tax breaks for private planes, yachts

    Critics decry benefit to the 1%; supporters say measures will help job creation
    March 31, 2015 11:30AM
    (inset: Andrew Cuomo)

    A Benetti super-yacht (inset: Andrew Cuomo)

    The New York state budget bills passed by the Legislature on Monday night included sales tax breaks on the purchase of private planes and yachts. [more]

  • Frank Lloyd Wright’s former Plaza pad hits market for $39.5M

    Famed architect lived in the building in the 1950s
    March 31, 2015 11:00AM
    Frank Lloyd Wright Plaza Hotel

    From left: Frank Lloyd Wright’s former unit at the Plaza Hotel and Frank Lloyd Wright

    Frank Lloyd Wright’s former Plaza apartment has hit the market for $39.5 million. [more]

  • Here’s what the $10M-$20M NYC investment sales market looked like last week

    Jeff Sutton sells an East Flatbush retail site; Goldmont Realty makes two Brooklyn buys
    March 31, 2015 10:30AM By Kyna Doles
    From left: 133 Avenue D, 1 Remsen Avenue in Brooklyn and Jeff Sutton

    From left: 133 Avenue D, 1 Remsen Avenue in Brooklyn and Jeff Sutton

    From Goldmont Realty’s $18.5 million Prospect Park South buy to Wharton Properties’ $12.9 million East Flatbush sale, here is a look at how New York City’s investment sales market for properties between $10 million and $20 million fared this week.

  • Landlords face off with preservationists in NoMad

    Residents hope to extend historic district; developers wary it could freeze growth in the area
    March 31, 2015 10:10AM
    A historic photo of Tin Pan Alley on West 28th Street

    Tin Pan Alley on West 28th Street in the early 20th century

    Community Board 5 will decide whether or not to extend the Madison Square North Historic District.

    Currently, the borders of the district are 25th and 29th streets and Sixth and Madison avenues. Under a new proposal in front of the board, the district would be extended north to 34th Street and from Broadway to Park Avenue South, according to the Wall Street Journal. [more]

  • Rendering of a new hotel in the Alps, which could be Europe's tallest tower

    Rendering of a new hotel in the Alps, which could be Europe’s tallest tower

    New Darren Star show takes place in Brooklyn. Blackstone sells three hotels for $1.3 billion. A glassy hotel in the Alps could be Europe’s tallest tower. Read these stories and more after the jump.

  • New city task force to focus on park shadows

    Council member proposed bill to tackle "looming threat of shadows falling on on our parks"
    March 31, 2015 09:11AM
    A visualization of new developments around Central Park (Credit: Accidental Skyline via Curbed)

    A visualization of new developments around Central Park (Credit: Accidental Skyline via Curbed)

    Council member Mark Levine is planning to create a task force that will focus on the issue of park shadows caused by tall, new developments.

    In an interview with Capital New York, the council member called the issue the “looming threat of shadows falling on our parks from the rising number of skyscrapers.” Especially around Central Park, where the new spires on “Billionaire’s Row” have cast multiple shadows over the park, residents have complained. [more]

  • Tommy Hilfiger’s Plaza penthouse cuts ask to $75M

    Pad was listed with Dolly Lenz for $80 million in October 2013
    March 31, 2015 08:35AM
    Tommy Hilfiger Plaza Penthouse

    From left: Tommy Hilfiger and his duplex penthouse at the Plaza Hotel

    Tommy Hilfiger is offering a significant discount. On his apartment.

    [more]

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