UPDATED, 8:48 p.m., June 19: Vornado Realty Trust is facing an $18 million lawsuit from Derek Johnson, an investor in its failed Harlem Park office development, who claims the company sabotaged the project and neglected to pay him his due from the sale of the site. [more]
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Tommy Huang, a Queens real estate developer, and his wife, Anne, will pay $1.5 million in penalties and surrender $3.3 million in illegal profits to the state in lieu of prison time, as part of a plea deal, the New York Post reported. The couple pleaded guilty today to one count of felony securities fraud in connection with an Elmhurst condominium development, according to a release from New York Attorney General Eric Schneiderman. [more]
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Six-story UES townhouse back on the market for $18.5 million. Spike Lee wants 2 Penn Plaza to remain a Madison Square Garden joint. Tribeca loft conversion starts pricing at $3 million. For Toll Brothers, being the only public builder focused on upscale homes has its advantages. Listing website Nestio relaunch lends a hand to old-school landlords. Read these stories and more after the jump.
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The Public Company Accounting Oversight Board, a nonprofit government-sponsored watchdog agency, has signed a renewal and expansion deal at Mitsui Fudosan’s 1251 Avenue of the Americas, data from commercial real estate information firm CompStak shows. [more]
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- Silverstone closes $18M Irving Place deal
- Sales of bank-owned homes now faster than boom era
- Chelsea Clinton's hubby lists Grand Madison pad
- Schrager enlists Lorber, Witkoff on residential project
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It’s nearly impossible to memorize the cross streets for every street address in New York City. Thankfully, we just came across a formula that will do it for you. [more]
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Extell Development’s Gary Barnett has acquired a partnership stake in a 14-building portfolio owned by brothers Michael and Frank Ring, Crain’s reported. The interest belonged to investor Joseph Tabak, and the deal could allow Barnett to force a sale of the portfolio — with himself in a favorable position to acquire it. [more]
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CityRealty, the real estate information website, has launched a “Market Insight” section that provides users with real-time real estate data and neighborhood statistics, Curbed reported. Features include a currency comparison tool that lets users look up average condominium and co-op prices in 11 different currencies. [more]
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Real estate mogul Donald Trump is known for lending his name to real estate projects all over the world. But he hasn’t licensed his brand to a building on U.S. soil since before the recession, the Wall Street Journal reported.
In fact, the last time that the Donald inked a licensing agreement in the U.S. was in 2007, with Trump Soho. [more]
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The 76-unit Murano condominiums in Long Island City have sold out, according to Modern Spaces, the exclusive sales and marketing agent at the property. [more]
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Those looking for a Coney Island fire sale will have to keep walking. The daughter of the late developer Horace Bullard pulled a chunk of his real estate portfolio — among the most prized in the neighborhood — off the market several months ago, and some analysts think the decision indicates she will not sell the properties at discount rates, the New York Times reported.
Jasmine Bullard inherited such properties as the Shore Theater and the Thunderbolt and Playland Arcade site when her father died in April. [more]













