The Real Deal New York

  • Rendering of 320 West 52nd Street in Hell's Kitchen (credit: Architecture Outfit)

    Rendering of 320 West 52nd Street in Hell’s Kitchen (credit: Architecture Outfit)

    A peek at Cadence Property Group’s Hell’s Kitchen condos. Jennifer Lawrence snags Jessica Simpson’s $7 million Beverly Hills mansion. Twenty units coming to 51 Carmine Street in the West Village. Read these stories and more after the jump.

  • Major NYC real estate players tied to Skelos, Silver scandals

    Tishman Speyer, Glenwood and Witkoff enmeshed in Albany scandals
    May 06, 2015 05:50PM
    Dean Skelos

    From left: Rob Speyer, Steve Witkoff, Charles Dorego and Dean Skelos

    Tishman Speyer, Glenwood Management and the Witkoff Group are among the major New York City real estate developers enmeshed in the Dean Skelos and Sheldon Silver criminal cases this year. [more]

  • Norton Rose Fulbright hops to Paramount’s 1301 Sixth Ave.

    Law firm is relocating from Kushner’s 666 Fifth Avenue
    May 06, 2015 05:30PM
    Paramount Group president Albert Behler and 1301 Sixth Avenue in Midtown

    Paramount Group president Albert Behler and 1301 Sixth Avenue in Midtown

    International law firm Norton Rose Fulbright is moving one block west to Paramount Group’s 1301 Sixth Avenue, having signed a lease for 107,00 square feet.

    It will take up part of the 28th floor and the 29th through 31st floors, the New York Post reported. The firm’s current digs, at Kushner Companies’ 666 Fifth Avenue, are located just one block away between 52nd and 53rd streets. The move will take place at the end of 2016. [more]

  • Waterman, USAA buy Garment District properties for $118M

    Herald Square Properties group asked $125M for buildings earlier this year
    May 06, 2015 05:10PM
    Garment District

    From left: 142 West 36th Street, 234 West 39th Street and Tod Waterman

    Waterman Interests and USAA Real Estate have partnered to acquire a pair of Garment District buildings for $118 million. [more]

  • Inside TheRealDeal
  • NYC restaurants feel the heat

    Well-funded restaurants groups and healthy lunch spots expand, but many eateries get pushed from prime locations
    May 06, 2015 04:45PM By Jennifer White Karp
    From left:

    From left: Max Talpalar, Karma McDermott and James Famularo

    From the May issue: New York City restaurants are feeling the heat in their kitchens, in the form of rising rents and competition from other well-funded retailers. A spate of high-profile restaurant closures — and a pending shutdown in the case of the famed Union Square Café — has focused attention on the sector recently. [more]

  • Joyland, Meral Property seeking retail tenants for new 60K sf Flatbush space

    Developers taps RKF to lure one or more big-box stores
    May 06, 2015 04:20PM By Tess Hofmann
    Rendering of mixed-use development at Nostrand Avenue and Avenue I in Flatbush

    Rendering of mixed-use development at Nostrand Avenue and Avenue I in Flatbush (via RKF)

    Joyland Group and Meral Property Group are looking for tenants to occupy the 60,000-square-foot retail portion of a six-story, mixed-use building coming to Flatbush, The Real Deal has learned. [more]

  • Kushner plans $414M condo building in Williamsburg

    Developer paid $275M for 184 Kent Avenue
    May 06, 2015 03:50PM By E.B. Solomont

    From left: Jared Kushner and 184 Kent

    Jared Kushner is bringing condos to a Williamsburg rental building that once housed a Wild Turkey distributor.

    Kushner Cos. plans to convert the 338 residential units at 184 Kent Avenue to condos, for a total sellout of nearly $414 million, according to plans filed with the Attorney General’s office that were reviewed by The Real Deal. [more]

  • PMG accused of mold problems at tony UES condo building

    In lawsuit, owners of units at 823 Park claim developer neglected their complaints
    May 06, 2015 03:25PM
    823 Park Avenue

    Elliot Joseph (inset) and 823 Park Avenue on the Upper East Side

    Kevin Maloney’s Property Markets Group is facing a lawsuit from residents at 823 Park Avenue who claim faulty insulation at the Upper East Side building has resulted in mold growth throughout the property. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    May 06, 2015 03:15PM

    1. Queens’ tallest office tower has hit the market
    2. RXR closes on purchase of the Helmsley Building for $1.2B
    3. WeWork’s Brooklyn Navy Yard building gets new renderings

    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]

  • The week in real estate market reports

    A weekly feature bringing you the industry’s latest intel
    May 06, 2015 02:50PM By Kyna Doles

    Market Reports

    The latest batch of reports from around the industry found that broker confidence fell slightly in the first quarter of the year and new development condo prices are up 50 percent from 2013. [more]

  • RFR gets OK to convert 190 Bowery, keep the graffiti

    Aby Rosen's landmarked former Germania Bank building in Nolita to undergo restoration
    May 06, 2015 02:30PM
    190 Bowery in Nolita and Aby Rosen

    190 Bowery in Nolita and Aby Rosen

    Aby Rosen’s RFR Realty handily won the approval of the Landmarks Preservation Commission to restore 190 Bowery as part of an office conversion — keeping its signature graffitied facade intact. [more]

  • Minskoff’s 51 Astor is an office leasing success story — but its retail lies empty

    Storefronts have languished vacant since 2013
    May 06, 2015 02:05PM By Tess Hofmann
    51 Astor Place in the East Village (inset: Edward Minskoff)

    51 Astor Place in the East Village (inset: Edward Minskoff)

    The office component of Edward J. Minskoff Equities’ 51 Astor Place hit full occupancy last week, capping an extremely successful leasing run for the $300 million spec building. Minskoff managed to lure tenants ranging from hedge funds to IBM and score record rents for the area.

    The Fumihiko Maki-designed building’s retail component, however, is a different story. Spanning nearly 24,000 square feet in the heart of the East Village, it has sat empty for nearly two years. [more]

  • Azure sells 17-story Bronx rental building for $50M

    423K sf Grand Concourse property changes hands for the third time since 2010
    May 06, 2015 01:40PM By Claire Moses
    1749 Grand Concourse in the Bronx and Steven Vegh (inset)

    1749 Grand Concourse in the Bronx (inset: Steven Vegh)

    After two years, Azure Partners has sold a 17-story rental property on the Grand Concourse in the Bronx for $50 million, The Real Deal has learned.

    The roughly 423,000-square-foot building at 1749 Grand Concourse traded hands three times since 2010. Azure, a Midtown West-based investment firm, sold it to an unidentified Brooklyn-based investor. The building, which includes 274 residential units and four retail spaces, offers about 200 feet of frontage on Grand Concourse. [more]

  • Brookland’s new Park Slope condo project gets renderings

    Developer filed plans for 11-story mixed-use project last year
    May 06, 2015 01:15PM
    550 Fourth Ave

    Boaz Gilad (inset) and rendering of 550 Fourth Avenue (credit: RoArt via New York YIMBY)

    Renderings and additional details for Brookland Capital’s new Park Slope condo development at 550 Fourth Avenue have been revealed. [more]

  • Half of Elliman’s most prolific sales team jumps to Corcoran

    Brian Meier's Hoffman-Meier team ranked No. 1 at brokerage for number of deals in 2014
    May 06, 2015 12:50PM By E.B. Solomont

    From left: Pamela Liebman (Credit: Max Dworkin) and Brian Meier

    Brian Meier, half of Douglas Elliman’s most prolific sales team, has jumped over to rival the Corcoran Group, The Real Deal has learned.

    Meier, who led the Hoffman-Meier team with Dylan Hoffman, is bringing eight team members with him, Corcoran said. [more]

  • Blackstone chief’s daughter buys Park Ave. triplex for $35M

    The co-op penthouse at 775 Park was asking $40M
    May 06, 2015 12:21PM By Rich Bockmann
    From left: Elizabeth and Andrew Right, 775 Park Avenue and Stephen Schwarzman

    From left: Elizabeth and Andrew Right, 775 Park Avenue and Stephen Schwarzman

    Now she can be neighbors with dad.

    Elizabeth (Zibby) Right, the daughter of Blackstone Group founder and 740 Park Avenue resident Stephen Schwarzman, has bought a triplex penthouse on Park Avenue for roughly $35 million. [more]

  • Pinnacle, Plymouth to develop Bronx site offering 310K sf

    Block-through Parkchester lot marketed as mixed-use development
    May 06, 2015 12:00PM By Mark Maurer
    Bronx Block-front

    From left: Proposed rendering of site in Parkchester, Bronx, and current aerial view (inset: Amit Doshi)

    Joel Wiener’s the Pinnacle Group and the Plymouth Group have plans to develop a block-through Bronx site they bought last week with more than 310,000 buildable square feet, The Real Deal has learned. [more]

  • Landmarks rejects Fosun’s initial proposal for 28 Liberty

    Commission advises that design of ground-floor and plaza be revised
    May 06, 2015 11:30AM
    Rendering of 28 Liberty Street (credit: Skidmore, Owings and Merrill)

    Rendering of 28 Liberty Street (credit: Skidmore, Owings and Merrill)

    The Landmarks Preservation Commission sent Fosun International back to the drawing board Tuesday after it proposed changes to the ground-floor and plaza of its famous Downtown skyscraper 28 Liberty Street — the former One Chase Manhattan Plaza. [more]

  • Carlos Slim asking $80 million for Duke-Semans Mansion

    Mexican billionaire acquired 1009 Fifth Avenue for $44M in 2010
    May 06, 2015 11:00AM
    Duke Semans Mansion

    Carlos Slim and Duke-Semans Mansion at 1009 Fifth Avenue on the Upper East Side

    Mexican billionaire Carlos Slim, formerly the world’s richest man, is asking $80 million for the Upper East Side mansion he bought for $44 million five years ago. [more]

  • Ranking New York’s biggest real estate firms

    With scarce listings and rising prices, a look at which Manhattan firms are on top and which are losing ground
    May 06, 2015 10:31AM By E.B. Solomont

    (Illustration: Chris Manfre)

    From the May issue: Tight inventory. Rising prices. Luxe new developments. And competition—fierce competition.

    Against that backdrop, Manhattan’s largest brokerages carved out a bigger piece of the pie for themselves this year, The Real Deal’s annual ranking of the borough’s biggest residential real estate firms shows. [more]