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The Real Deal New York

  • Top residential agents of the week

    March 27, 2015 06:19PM
    Ann Cutbill Lenane and 300 Central Park West on the Upper West Side

    Ann Cutbill Lenane and 300 Central Park West on the Upper West Side

    Ann Cutbill Lenane of Douglas Elliman topped the week’s residential sales with a $12.8 million co-op at 300 Central Park West on the Upper West Side. Click here to see this listing and more.

  • City’s chief property manager doesn’t properly track its real estate: Stringer

    Comptroller's office found lack of oversight at the Department of Citywide Administrative Services
    March 27, 2015 06:02PM By Claire Moses
    Comptroller Scott Stringer

    Comptroller Scott Stringer

    A new audit from New York City Comptroller Scott Stringer’s office found that the Department of Citywide Administrative Services — which is the city’s chief property manager — cannot accurately track the more than 19 million square feet of office space it administers.

    The comptroller’s audit found that the DCAS didn’t have an accurate inventory list of available office space, didn’t consistently follow protocols for space request evaluations, and doesn’t know exactly how much property it manages.  [more]

  • Ford Motor wants $230M for Far West Side building

    Automaker paid $73M for site with 464K sf property in 1997
    March 27, 2015 05:31PM
    787 11th Avenue

    787 11th Avenue (inset: Darcy Stacom)

    The Ford Motor Company is putting a 464,000-square-foot Far West Side building on the market and expects to sell it for more than $230 million. [more]

  • Kushner closes on 16-building multifamily portfolio for $132M

    Stone Street, HIG paid $73M for 291-unit package in 2012
    March 27, 2015 05:09PM By Hiten Samtani
    From left: Joe Koicim, Peter Von Der Ahe, 238 East 33rd Street and Jared Kushner

    From left: Joe Koicim, Peter Von Der Ahe, 238 East 33rd Street and Jared Kushner

    Jared Kushner’s Kushner Companies just closed on a large multifamily portfolio, with 14 buildings scattered over several Manhattan neighborhoods and two in Brooklyn, for $131.5 million. [more]

  • Inside TheRealDeal
  • Quiz: How well do you know your starchitects?

    Test your knowledge with TRD's latest quiz
    March 27, 2015 04:40PM By Claire Moses
    Clockwise from left: Karim Rashid, Zaha Hadid, Robert AM Stern and Bjarke Ingels

    Clockwise from left: Karim Rashid, Zaha Hadid, Robert AM Stern and Bjarke Ingels

    You may recognize their most famous buildings, but how well do you know the architects who are responsible for their designs? Take our quiz and find out.

  • Step inside Bjarke Ingels’ W. 57th St. tetrahedron: PHOTOS

    Durst Organization is developing the roughly 800,000-square-foot rental building
    March 27, 2015 04:10PM
    The facade of Bjarke Ingels' 625 West 57th Street (Credit:

    The facade of Bjarke Ingels’ 625 West 57th Street (Credit: Field Condition)

    It’s now possible to take a close look at Bjarke Ingels Group’s tetrahedon on the far west side of 57th Street. [more]

  • Aby Rosen’s RFR plans $763M condo offering at 100 East 53rd

    Foster + Partners-designed project will have two duplex penthouses, restaurant
    March 27, 2015 03:40PM By E.B. Solomont
    From left: Aby Rosen and a rendering of 100 East 53rd Street

    From left: Aby Rosen and a rendering of 100 East 53rd Street (Credit: Foster + Partners)

    Aby Rosen’s long-stalled condominium development at 100 East 53rd Street will have 99 units, for a total sellout of more than $750 million, according to plans filed with the Attorney General’s office. The Norman Foster-designed tower, slated to rise 61 stories, will also have two duplex apartments that will take up two full floors each, according to the most recent plans filed with the city’s Department of Buildings.

    RFR plans to have a restaurant on the first and second floors of the tower, which is adjacent to Rosen’s iconic Seagram Building. [more]

  • El-Gamal files permits for new Dream Hotel

    29-story tower at 560 Seventh Avenue will have 243 hotel rooms
    March 27, 2015 03:22PM By Kyna Doles and Hiten Samtani
    From left: Sharif El-Gamal, 560 Seventh Avenue and the Dream Hotel Downtown

    From left: Sharif El-Gamal, 560 Seventh Avenue and the Dream Hotel Downtown

    It may be the only place in town where you can visit the synagogue and nightclub without ever leaving the building. [more]

  • Lighthouse Point construction to kick off this summer

    Staten Island project includes 120 apartments, a 160-room hotel and 60K sf of retail
    March 27, 2015 02:50PM By Kerry Murtha
    Rendering of Lighthouse Point on Staten Island (credit: Triangle Equities)

    Rendering of Lighthouse Point on Staten Island (credit: Triangle Equities)

    Lester Petracca’s Triangle Equities will kick off construction on the long-stalled Lighthouse Point waterfront project on Staten Island’s North Shore this summer. The $200 million development is the largest new project in the area since Superstorm Sandy hit in 2012, and will include a 120-unit residential tower, more than 60,000 square feet of retail space and a 160-room hotel. At least 20 of the residential units will be affordable. [more]

  • Financial data firm Markit signs huge lease at 5 Manhattan West

    TAMI tenant takes 140,000 sf at Brookfield’s 16-story office building
    March 27, 2015 02:20PM By Mark Maurer
    Markit NYC Office

    From left: Rendering of 450 West 33rd Street, Markit CEO Lance Uggla, Josh Kuriloff and Jeffrey Peck

    Markit, a London-based global financial data provider, is consolidating its New York City offices into a 140,000-square-foot space at Brookfield Property Partners’ 5 Manhattan West, The Real Deal has learned. [more]

  • State leaders approve $440M package to fight homelessness

    Plan includes $220M in earmarked funds over next four years
    March 27, 2015 01:55PM
    Carl Heastie Andrew Cuomo

    From left: Carl Heastie and Andrew Cuomo

    The state budget will include almost $440 million for anti-homelessness services for the next four years.

    The package is supposed to “prevent thousands of individuals and children from entering the homeless shelter system,” Assemblyman Andrew Hevesi, the Queens Democrat who chairs the chamber’s Social Services committee, told the New York Daily News. [more]

  • Chinese buyer closes on One57 condo for $30M

    Three-bedroom unit spans 4,500 square feet
    March 27, 2015 01:23PM By Tess Hofmann
    157 West 57th Street in Midtown

    157 West 57th Street in Midtown

    A condo in Extell Development’s One57 sold for $30 million to a buyer named Dojiang Li, according to property records filed with the city today. [more]

  • Drea de Matteo loses apartment in East Village explosion

    "Sopranos" actress had owned the Second Avenue unit for 22 years
    March 27, 2015 12:50PM
    Drea de Matteo Second Avenue

    From left: Drea de Matteo and the site of Thursday’s explosion on Second Avenue

    “Sopranos” star Drea de Matteo’s apartment was a casualty of Thursday’s explosion in the East Village, which led to the collapse of two buildings.  [more]

  • Peter Fine developing luxury spec homes in Miami Beach

    NYC tycoon's first three homes, on North Bay Road and Palm Island, are priced from $18M to $30M
    March 27, 2015 12:20PM By Ina Cordle
    6440 North Bay Road and 6010 North Bay Road and Peter Fine

    Renderings of 6440 North Bay Road, 6010 North Bay Road and Peter Fine

    From the South Florida website: New York City real estate developer Peter Fine has launched a South Florida company to build ultra-luxury, waterfront mansions in Miami Beach — for spec. [more]

  • NYC should implement 2 percent tax cap: OPINION

    Limitations already in place in the rest of the state
    March 27, 2015 11:42AM
    Martha Stark Bill de Blasio

    From left: Martha Stark and Bill de Blasio

    New York City should adopt a bill that would limit the increase on annual property taxes to 2 percent, Martha Stark, professor and former commissioner of the city’s Department of Finance, wrote in an editorial for Crain’s.

    Stark wrote that while Mayor Bill de Blasio opposes the bill, which was recently passed by the state senate, it would be “more responsible and honest” than the current city tax policy. [more]

  • Housing Authority admits to leaving $75M in federal funds unclaimed

    NYCHA failed to convert 5,000 units to Section 8 housing
    March 27, 2015 11:05AM

    NYCHA chair Shola Olatoye and Councilmember Ritchie Torres

    At a City Council hearing Thursday, the New York City Housing Authority admitted that it left $75 million in federal subsidies unclaimed by failing to convert 5,000 units to section 8 housing.

    The financially troubled agency took over approximately 12,000 units of city-and-state-owned housing eight years ago in order to make them eligible for federal money, according to the New York Observer. [more]

  • Mortgage complaint line brings attention to detail

    Consumer Financial Protection Bureau allows consumers to rant and rave via expanded system
    March 27, 2015 10:35AM By Kenneth Harney
    Consumer Financial Protection Bureau

    From left: David Stevens and Rich Cordray

    Move over, Yelp. The federal government’s top consumer agency has just begun allowing mortgage borrowers to vent publicly — in full narrative detail — about the bad experiences they’ve had with financial institutions.

    Say your mortgage servicing company keeps harassing you with phone calls about the timeliness of your payments, even though you consistently send them within the “grace period” specified in the mortgage documents. [more]

  • Rendering of man-made hills on Governor's Island

    Rendering of man-made hills on Governor’s Island

    Officials eye New Jersey for Port Authority bus terminal. Fake hills taking shape on Governor’s Island. “Worst Landlords” keep racking up violations. Read these stories and more after the jump.

  • Community at odds over Brooklyn Bridge Park finances

    Standoff over two resi towers at Pier 6 continues
    March 27, 2015 09:32AM
    Rendering of Pier 6 towers and Pierhouse at Pier 1 (credit: Marvel)

    Rendering of Pier 6 towers and Pierhouse at Pier 1 (credit: Marvel)

    Construction on two planned residential towers at Brooklyn Bridge Park’s Pier 6 remains blocked as community activists who oppose the development and the Brooklyn Bridge Park Corporation, the agency that runs the park, fight to gain support for their differing views of how the park should be financed. [more]

  • Fired Venture Capital Properties brokers flee to new brokerage

    Ebi Khalili, Josh Rahmani respond to allegations made by their former partners 
    March 27, 2015 09:00AM By Kyna Doles
    From left: Daniel Rahmani, Joseph Rahmani, Simon Goltche, Josh Rahmani and Ebi Khalili

    From left: Daniel Rahmani, Joseph Rahmani, Simon Goltche, Josh Rahmani and Ebi Khalili

    UPDATED, March 27, 10:47 a.m.: Brothers Daniel and Joseph Rahmani, who were tossed out of Venture Capital Properties last month, have now joined a new brokerage, Capital Property Partners. The move comes as their battle with their former partners Ebi Khalili and Arash “Josh” Rahmani continues to escalate. [more]

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