The Real Deal New York

  • Karlie Kloss stands to make massive profit on Village co-op

    Victoria’s Secret model’s 12-unit building sold to investor for $59M
    March 05, 2015 06:00PM
    151 Charles Street in the West Village (inset: Karlie Kloss)

    151 Charles Street in the West Village (inset: Karlie Kloss)

    The unstoppable force of Manhattan luxury development even displaces supermodels. But in this case, the profit should ease the pain. [more]

  • Fried Frank contemplating move to Manhattan West

    The top law firm currently has 400K sf at Brookfield's 1 New York Plaza
    March 05, 2015 05:19PM
    Rendering of Manhattan West (credit: Brookfield Properties)

    Rendering of Manhattan West (credit: Brookfield Properties) (inset: Jonathan Mechanic)

    Fried Frank, the international law firm with one of New York City’s most prominent real estate practices, is considering a move to Manhattan West, the new Hudson Yards development being spearheaded by its current landlord, Brookfield Property Partners.  [more]

  • Le District at Brookfield Place preps for l’opening: PHOTOS

    Designers hope to create French comfort food “destination”
    March 05, 2015 04:51PM By Claire Moses

    With snow wreaking havoc on the streets of New York and construction workers scrambling to put the finishing touches on Le District — a 30,000-square-foot French comfort food restaurant at Brookfield Place — it’s hard to believe that just 20 short days from now, visitors could be enjoying a glass of Merlot along with their steak frites at the Lower Manhattan joint. [more]

  • Office space availability rises as landlords chase higher rents

    New spaces hit the market at higher rates, driving up averages throughout Manhattan
    March 05, 2015 04:20PM By Adam Pincus

    Left: The William Kaufman Organization made five full floors at 437 Madison Avenue available at above Midtown’s average asking price last month. Middle: Private equity fund Veritas Capital Fund Management inked one of the most expensive recent deals for about 15,000 square feet at Sheldon Solow’s 9 West 57th Street. Right: Digital marketing firm Amobee signed a 3.5-year lease for 12,250 square feet at 162 Fifth Avenue.

    From the March issue: New product put on the market with an eye toward capturing broad rent increases boosted the availability rate across Manhattan last month. It was the first time in nearly a year availability rose in all three of the borough’s office leasing submarkets, information from commercial brokerage Colliers International showed. [more]

  • Inside TheRealDeal
  • Julia Boland, Maria Wall leave William Raveis for Corcoran

    Departure follows Fabienne Lecole’s exit from startup brokerage
    March 05, 2015 03:32PM By E.B. Solomont

    From left: Julia Boland, Maria Wall, Kathy Braddock and Paul Purcell

    UPDATED, 4:15 p.m., March 5: First, top sales agent Fabienne Lecole left William Raveis NYC after just five months to return to the Corcoran Group. Now, colleagues Julia Boland and Maria Wall have followed in her footsteps, in a move that robs the startup brokerage of its headline agents. [more]

  • Rufrano top contender to be American Realty Capital CEO

    The former CushWake chief will likely succeed David Kay
    March 05, 2015 02:55PM
    Glenn Rufrano

    Glenn Rufrano

    Real estate executive Glenn Rufrano has emerged as the front-runner to take David Kay’s former position as the head of American Realty Capital Properties, sources told the Wall Street Journal. [more]

  • Hornig brings Savanna on to $31 million South Bronx deal

    Partners expected to close today on 175,000 sf office building
    March 05, 2015 02:25PM By Rich Bockmann
    From left: Daren Hornig, 2417 Third Avenue and Christopher Schlank

    From left: Daren Hornig, 2417 Third Avenue and Christopher Schlank

    Hornig Captial Partners, which went into contract late last year to purchase a large South Bronx office building for $31 million, has brought Savanna into the action, The Real Deal has learned. [more]

  • Floor plans unveiled for Zeckendorf’s 520 Park Avenue

    Triplex penthouse will ask $130 million, seven duplexes priced up to $83M
    March 05, 2015 01:50PM
    A rendering of 520 Park Avenue

    A rendering of 520 Park Avenue (Credit: Robert A.M Stern Architects)

    Floor plans and pricing for Zeckendorf Development’s highly anticipated 520 Park Avenue are now available — and as promised, the triplex penthouse will ask a whopping $130 million, with a total sellout of $1.2 billion. [more]

  • These are the big shots who live at 15 Central Park West

    Billionaires Eyal Ofer and Daniel Loeb among the residents
    March 05, 2015 01:20PM By Business Insider

    15 Central Park West graphic (Credit: Business Insider)

    We’ve said it before and we’ll say it again: 15 Central Park West is the most powerful apartment building in the world. The Manhattan condo is filled with bankers, hedge funders, business tycoons, and foreign billionaires. Goldman Sachs has a major presence in the building, as do some huge hedge funds. Read on to see the complete breakdown.  [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    March 05, 2015 01:10PM

    1. Revealed: Prices, floor plans for Vornado’s 220 CPS
    2. Howard Lorber to make $25M on hot dogs
    3. Milstein mulls plan to build skyscraper at 335 Madison

    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]

  • Westbrook takes controlling stake in two Midtown office towers

    1375 Broadway and 31 Penn Plaza together valued at $650M
    March 05, 2015 12:30PM By Tess Hofmann
    From left: 1375 Broadway and 31 Penn Plaza in Midtown

    From left: 1375 Broadway and 31 Penn Plaza in Midtown

    Westbrook Partners has picked up a 96 percent stake in a pair of Midtown office towers from Savanna for an undisclosed sum, according to data from Real Capital Analytics. The buildings at 1375 Broadway and 31 Penn Plaza are together valued at approximately $650 million. [more]

  • Is Schneiderman cozy with the Trumps?

    AG illegally solicited donations in exchange for clearing up university suit, developer claims
    March 05, 2015 11:50AM

    From left: Eric Schneiderman, Donald Trump and Ivanka Trump

    New York State Attorney General Eric Schneiderman is under investigation for allegedly soliciting illegal campaign contributions from the Trump family while insinuating that he would back down from his own consumer fraud investigation against Trump University. [more]

  • A rendering of Jean Nouvel-designed Philharmonie de Paris

    A rendering of Jean Nouvel-designed Philharmonie de Paris

    Jean Nouvel sues to remove his name from the Philharmonie de Paris concert hall. These are New York’s essential delis . San Francisco is still more expensive than NYC for renters. Read these stories and more after the jump.

  • Bruce Eichner back from exile

    The “ballsy” developer aims to rise again with two Manhattan towers
    March 05, 2015 10:50AM By Rich Bockmann
    Ian Bruce Eichner

    Ian Bruce Eichner

    TRD Profile:From the March issue: If the Flatiron District’s One Madison condo tower typifies the nadir and the zenith of real estate’s recent history, then Ian Bruce Eichner is perhaps the most fitting developer to eclipse the storied building’s successes — or to get swallowed up in its shadow trying.

    With a property grab one broker described bluntly as “ballsy,” Eichner is back building in Manhattan after spending much of the early aughts in Las Vegas developing and, reminiscent of his high-profile rise and crash 25 years ago, surrendering the city’s most expensive casino ever, the Cosmopolitan. “I was exiled to the desert,” he said. [more]

  • Savanna puts 100 Wall Street on the market

    29-story FiDi office building could sell for $250M: sources
    March 05, 2015 10:12AM
    Savanna's Nicholas Bienstock and 100 Wall Street

    Savanna’s Nicholas Bienstock and 100 Wall Street

    Savanna is selling 100 Wall Street and could get as much as $250 million for the office building, the New York Daily News reported, citing unnamed sources.

    The more than 500,000-square foot, 29-story building is located between Front and Water streets in the Financial District and is about 90 percent leased.  [more]

  • Bloomingdale’s inks 25K sf lease on Upper West Side

    Department store to open discount shop on corner of West 72nd Street and Broadway
    March 05, 2015 09:32AM
    From left: 2085 Broadway and a Bloomingdale's location

    From left: 2085 Broadway and a Bloomingdale’s location

    Bloomingdale’s is opening an “off-price” store on the corner of 72nd Street and Broadway on the Upper West Side. [more]

  • Peter Madoff’s LI home sells for $3.5M

    Proceeds of the sale will go toward Ponzi scheme victims
    March 05, 2015 09:02AM
    From left: Peter Madoff's Old Westbury home and brothers Peter (left) and Bernard Madoff in 1989

    From left: Peter Madoff’s Old Westbury home and brothers Peter (left) and Bernard Madoff in 1989

    The Long Island home belonging to Peter Madoff, brother of Ponzi schemer Bernard Madoff, has sold for $3.5 million. [more]

  • Woolworth combination hits the market for $51M

    Combined units in Alchemy Properties' condo project span 11,450 square feet
    March 05, 2015 08:30AM
    From left: The Woolworth Building and renderings of the 29th floor units in the building (Credit: Williams New York)

    From left: The Woolworth Building and renderings of the 29th floor units in the building (Credit: Williams New York)

    Two units on the 29th floor of the iconic Woolworth Building in the Financial District have hit the market for a combined $51.4 million.  [more]

  • Venture Capital Properties owner sues to dissolve company

    Acrimonious battle between two sets of cousins erupts in $10M lawsuit
    March 05, 2015 08:00AM By Tess Hofmann
    From left: Joseph Rahmani, Daniel Rahmani, Josh Rahmani and Ebi Khalili

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

    Brothers Joseph and Daniel Rahmani of Venture Capital Properties are suing their first cousins and partners in the commercial brokerage, claiming that they used the company as their own personal piggy bank and tried to block Joseph from his fair share of funds by firing him. [more]

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