The Real Deal New York

  • Real estate titans stand to transform Hudson Square

    The Related Companies, Extell Development buying into the area
    August 28, 2014 11:00AM
    Related's Jeff Blau and 261 Hudson Street

    Related’s Jeff Blau and 261 Hudson Street

    Long considered a secondary neighborhood to Soho to the east and Tribeca to the south, Hudson Square is having a moment. [more]

  • Former Chicago Bull Jay Williams is moving to Tribeca

    Asking price for the unit is $9,900 per month
    August 28, 2014 10:30AM
    From left: 58 Thomas Street and Jay Williams

    From left: 58 Thomas Street and Jay Williams

    Former NBA star and ESPN analyst Jay Williams has rented a two-bedroom, two-bathroom at 58 Thomas Street. [more]

  • Clash with contractor halts work at Forest City’s Pacific Place

    "Significant commercial disputes" lead Skanska to furlough workers
    August 28, 2014 10:00AM
    Renderings for the B2 tower at Pacific Park, formerly known as Atlantic Yards

    Renderings for the B2 tower at Pacific Park, formerly known as Atlantic Yards

    Construction on a residential tower being built out of modular units in Brooklyn has halted. [more]

  • The set of Central Perk, the fictional coffee shop made famous by "Friends"

    The set of Central Perk, the fictional coffee shop made famous by “Friends”

    This device prevents landlords from skimping on heat. For the first time ever, New Yorkers can have an actual coffee at Central Perk. Looking for a new place? Now might be the time. Here’s why prices are decreasing this month. Read these stories and more after the jump.

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  • Rihanna eyes $18M Tribeca listing

    Pop star reportedly interested in full-floor apartment at One York
    August 28, 2014 09:00AM
    From left: One York and Rihanna

    From left: 1 York Street and Rihanna

    Rihanna is scoping out a not so hopeless place. [more]

  • Judge delays Cobble Hill hospital sale amid hiring dispute

    Fortis Property Group accused of violating deal by not employing laid-off nurses
    August 28, 2014 08:30AM
    339 Hicks Street and Fortis’ Joel Kestenbaum

    339 Hicks Street and Fortis’ Joel Kestenbaum

    SUNY Downstate Medical Center’s sale of the Long Island College Hospital hit yet another snag yesterday after a Brooklyn Supreme Court judge ordered a delay.

    The New York State Nurses Association was granted a temporary restraining order that halted a purchase of the Cobble Hill facility by Fortis Property Group, Lutheran Family Health Center and NYU Langone Medical Center. The union alleged that the buyers did not hire nurses who had been laid off, thus violating an agreement. [more]

  • De Blasio: Scaffolds at public housing are coming down

    Temporary structures seen as providing cover for criminal activity
    August 28, 2014 08:00AM
    From left: Bill de Blasio, Lincoln Houses in East Harlem and Al Sharpton

    From left: Bill de Blasio, Lincoln Houses in East Harlem and Al Sharpton

    Mayor Bill de Blasio announced Wednesday that his administration had made progress on its vow to remove a public nuisance from the city’s housing projects: scaffolding. [more]

  • Most popular stories on The Real Deal

    August 28, 2014 07:20AM

    Current reader favorites:
    1. Meet the investors behind NYC’s hottest real estate startups
    2. Bellmarc founder Neil Binder allegedly misused company funds
    3. 6 NYC buildings sure to make headlines this fall
    4. Gary Barnett: “Poor door” makes financial sense
    5. Murray Hill rental building trades for $44M

  • Attorney General goes after NY loan modification firm

    Schneiderman claims Home Affordable Direct illegally collected upfront fees from homeowners
    August 27, 2014 06:00PM By David Jones
    New York Attorney General Eric Schneiderman

    New York Attorney General Eric Schneiderman

    Home Affordable Direct, a Farmingdale, N.Y. firm, is facing allegations by New York State Attorney General Eric Schneiderman that it defrauded struggling homeowners in a scheme to collect advance fees as part of a home loan modification business.

    The attorney general, in a petition filed Tuesday in Manhattan Supreme Court, asked the court to block Home Affordable Direct from doing business until it deposits $2 million in escrow, hands over customer files and pays restitution to customers. [more]

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    Join a community of nearly 45,000 fans
    August 27, 2014 05:45PM


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  • Interior designer Steven Gambrel sued over townhouse project

    Neighbor accuses him of damaging tree in Village courtyard, violating lease
    August 27, 2014 05:30PM

    From left: Steven Gambrel, 68 Morton Street and interiors of Bulova Watchcase condos

    Noted interior designer Steven Gambrel, who worked on the Bulova Watchcase Factory condominiums in Sag Harbor, was hit with a lawsuit for allegedly destroying a tree in his own backyard as part of a Greenwich Village townhouse project at 68 Morton Street. [more]

  • Long-delayed Queens Midtown Tunnel high-rise gets third extension

    If built, Perlbinder brothers' 34-story project at Second Avenue could be worth $800M
    August 27, 2014 05:15PM By Adam Pincus

    245 East 36th Street (Photo: Microsoft)

    Perlbinder Realty, the Manhattan real estate firm led by brothers Stephen and Mark Perlbinder, won its third extension for a long-delayed mixed-use high-rise planned for Second Avenue between 36th and 37th streets, partly spanning an entrance to the Queens Midtown Tunnel.

    The site is a large one, and so is the question mark about its future. The owners have not developed it since first winning approvals from the city in 2002. At the moment, the property has a parking lot on part of the land. The north portion is occupied by a ramp providing access to the Queen Midtown Tunnel, which is operated by the Metropolitan Transportation Authority. [more]

  • Interior of Manhattan's first Denny's at 150 Nassau Street

    Interior of Manhattan’s first Denny’s at 150 Nassau Street

    The Plaza’s second-priciest pad hits the market for $50M. Denny’s makes a fancy Manhattan debut Friday. Crown Heights residents fight for rent-stabilized units as building goes luxury. Read these stories and more after the jump.

  • Retired Italian soccer duo to launch Tribeca hotel

    No permits filed, but Hudson Square Hotel teaser site reveals plans for 50 to 60 rooms
    August 27, 2014 04:40PM
    From left: Paolo Maldini, Hudson Square Hotel rendering and Christian Vieri

    From left: Paolo Maldini, Hudson Square Hotel rendering and Christian Vieri

    A pair of retired Italian soccer stars reportedly have plans to develop a hotel at the corner of Hudson and Canal streets. [more]

  • SEC cracks down with new loan-backed securities rules

    Financial firms must now disclose borrowers’ credit record details to clarify risks
    August 27, 2014 04:20PM
    Bank of America, JPMorgan and Credit Suisse are among the banks

    Bank of America, JPMorgan and Credit Suisse are among the banks to pay out mortgage-fraud case settlements recently.

    The Securities and Exchange Commission adopted a new rule today that requires financial firms selling securities backed by mortgages and auto loans to disclose details on borrowers’ credit records. [more]

  • Council member says Astoria Cove plan has housing loophole

    Alma Realty receives same bonus for 700 moderate-income or 345 low-income units, pol claims
    August 27, 2014 04:00PM

    From left: Costa Constantinides, Astoria Cove and Alma’s Steve Valiotis

    Queens City Council member Costa Constantinides fired off a letter to city officials last week, expressing concerns that the proposal for Astoria Cove could allow the affordable-housing component to be far from affordable. [more]

  • David Werner lands $700M financing for Mobil Building acquisition

    Meridian Capital, Eastdil arrange loan to purchase leasehold at 150 East 42nd St.
    August 27, 2014 03:42PM By Hiten Samtani
    The Mobil Building at 150 East 42nd Street

    The Mobil Building at 150 East 42nd Street

    Real estate investors David Werner and Mark Karasick have secured the funds to complete their acquisition of the leasehold position in the iconic Mobil Building, The Real Deal has learned. Meridian Capital Group and Eastdil Secured arranged a $700 million loan for the 1.8 million-square-foot property at 150 East 42nd Street. The deal is one of the biggest financings of the year. [more]

  • US to run out of foreign investor visas due to Chinese demand

    Middle Kingdom's wealthy account for 85 percent of the nearly 10,000 EB-5 visas issued
    August 27, 2014 03:10PM
    From left: 30 Park Place, Barclays Center and 50 West 47th Street

    From left: 30 Park Place, Barclays Center and 50 West 47th Street

    Thanks to surging demand among China’s wealthy, the U.S. is expected to run out of a type of visa awarded to foreign investors for the first time in the history of the 24-year-old program. [more]

  • State Senator Jeffrey Klein balks at repealing Urstadt Law

    Legislation, which gives Albany oversight of NYC rent regulation, passed in 1971
    August 27, 2014 02:40PM
    Jeffrey Klein and Oliver Koppell

    Jeffrey Klein and Oliver Koppell

    State Senator Jeffrey Klein, a prominent endorser of Mayor Bill de Blasio — and who is now running for re-election — isn’t wild about the notion of repealing a 1971 law balancing control of New York City’s rent regulation between Gotham and Albany.

    Squaring off against former City Council member and challenger Oliver Koppell in a televised debate yesterday, Klein balked at a question about whether he would vote to repeal the Urstadt Law, which passed in 1971. The bill gave the New York state legislature final authority over the city’s rent regulation at a time when the city was on the edge of financial disaster. [more]

  • Regulators considering new rules to protect REIT investors

    Guidelines would rein in risks associated with non-traded real estate investment trusts
    August 27, 2014 02:10PM
    From left: NASAA president A. Heath Abshure and Columbia Property Trust CEO E. Nelson Mills

    From left: NASAA’s Heath Abshure and Columbia Property Trust’s Nelson Mills

    Non-traded real estate investment trusts could soon face higher regulatory hurdles.

    The North American Securities Administrators Association is preparing to introduce guidelines that would place new limits on how non-traded REITs raise money and distribute dividends. The guidelines, if adopted, would also expose independent brokerages that market the REITs to enforcement actions. Last year, investment in non-traded REITs soared to $19.6 billion as investors were attracted by high dividends and stable share prices. The regulators’ guidelines aim to rein in risks associated with those returns. [more]