The Real Deal New York

  • 2 West 47th Street and Extell's Gary Barnett

    2 West 47th Street and Extell’s Gary Barnett

    Rumor has it that Extell Development Company is opening a hotel at on West 47th Street. [more]

  • The price tags on posh Shelter Island pads are on the rise.

    The price tags on posh Shelter Island pads are on the rise.

    Prices on Shelter Island hit Hamptons highs. America’s top 12 cities for lucrative home flips. Woman discovered 50,000 bees in Elmhurst attic. Read these stories and more after the jump.

  • By the numbers: Rising rents on the menu for New York City’s restaurant industry

    Spike in costs for retail space presents new challenges for eateries
    August 22, 2014 04:40PM By Sasha von Oldershausen
    Union Square Cafe

    Union Square Cafe

    From the August issue: The New York City restaurant business is not for the faint of, well, stomach. And in the past few years, that’s become even more apparent, as a number of acclaimed long-standing restaurants — the nearly 30-year-old Union Square Cafe, celebrity chef Bobby Flay’s flagship Mesa Grill and Wylie Difresne’s groundbreaking wd~50 among them — closed or announced plans to shutter because of rent increases or to make way for more lucrative real estate developments. [more]

  • Top Manhattan apartment sales: August 11 – August 17

    An interactive map of the priciest recorded deals, plus total overall sales and average prices for the week (click on numbers to see data)
    August 22, 2014 04:20PM

  • Inside TheRealDeal
  • The week’s notable renderings: Future 40-story Virgin Hotel, 221 West

    Here are some images of future NYC sites that caught our eye
    August 22, 2014 04:00PM
    Images of the Virgin Hotel set to rise at 1205-1225 Broadway in NoMad leaked this week

    The Virgin Hotel set to rise at 1205-1225 Broadway

    Click here for renderings and more.

  • Bank of America Tower, New York Times among world’s largest holders of unused tower space

    Dubai’s Burj Khalifa tops all other skyscrapers with 800 feet of non-occupiable space
    August 22, 2014 03:40PM
    From left: 1111 Avenue of the Americas and 620 Eighth Avenue

    From left: 1111 Avenue of the Americas and 620 Eighth Avenue

    Building owners are often keen on scaling new heights. But the tricks and toppers that bring record-breaking skyscrapers to their peak often result in big chunks of useless hidden space.

    In New York City, the loftiest example of this trend is the Bank of America tower at 1111 Avenue of the Americas, which stretches 1,200 tall feet and has 430 feet of non-occupiable height, making it third among the world’s largest chunks of unusable space. And the New York Times Tower at 620 Eighth Avenue, ranked sixth in the world, holds 325 feet of useless space atop its 1,046 feet. [more]

  • Arlene Farkas asks lenders to halt sale of her River House unit

    Creditors are looking to recoup the $6M Farkas owes on the duplex
    August 22, 2014 03:30PM
    From left: Arlene Farkas and River House

    From left: Arlene Farkas and River House

    The drama surrounding a 14-room River House co-op continued to unfold as the owner and estranged wife of department store heir Bruce Farkas plead with creditors to delay putting the duplex on the auction block.

    The lenders to whom Arlene Farkas owes about $6 million planned to sell her apartment at the tony co-op building on September 5, the New York Daily News reported. However, Farkas said that a sale at auction would likely bring in less than the $8.5 million she believes the unit should fetch, according to the newspaper. [more]

  • Is 319 Schermerhorn the first hipster building ever? Architecture review

    Residential development on corner of Nevins Street to embrace Brooklyn (BK) cool
    August 22, 2014 03:10PM By James Gardner

    319 Schermerhorn (Credit: Incorporated)

    Perhaps it is my over-active imagination, but I do believe that Schermerhorn, a new development planned for Brooklyn, may just be the first hipster building ever created. Why it should be the first — that is, why it should have no antecedents — is not difficult to figure out. Hipsters tend not to build things, certainly not buildings. Furthermore, the hipster generation is still too young to be developers, even if they wanted to be. And so, one way or another, there are no hipster buildings. [more]

  • Long-delayed Murray Hill condo tower set to launch sales

    Model residences at 325 Lexington will open this fall; building under construction since 2008
    August 22, 2014 02:50PM
    From left: 325 Lexington rendering and teaser website image

    From left: 325 Lexington rendering and teaser website image

    The 33-story condo tower at 325 Lexington Avenue that has been under construction intermittently since 2008 is finally set to launch sales this fall.

    A teaser website has launched for the condo building, which is located in Murray Hill between East 38th and 39th streets and houses 123 units and 2 penthouses. It advertises the imminent opening of on-site model residences. Construction restarted in December 2012 following a four-year halt. [more]

  • Steepest, cheapest listings to hit Manhattan this week

    On the high end: A 96-bottle wine refrigerator. On the low: Could accommodate furnishings.
    August 22, 2014 02:30PM
    From left: 1 Central Park South and 301 East 63rd Street

    From left: 1 Central Park South and 301 East 63rd Street

    Douglas Elliman’s Tal Alexander and Oren Alexander had the priciest single-family residential listing to hit the Manhattan market this week with a $25 million condominium at 1 Central Park South, while Living New York’s Michael Carbone had the cheapest with a $199,000 restricted-sale two-bedroom co-op at 214 Bradhurst Avenue in Central Harlem. Click here to see these listings and more.

  • 5Pointz comes down today

    Demolition to make way for new residential development by David and Jerry Wolkoff
    August 22, 2014 02:10PM
    5Pointz before and after the building was whitewashed

    The old 5Pointz before and after the building was whitewashed

    5Pointz, the former graffiti artist mecca, is being demolished today. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    August 22, 2014 01:45PM

    1. Lauren Bacall’s Dakota home to hit the market
    2. Revealed: Floor plans for $110M Woolworth penthouse
    3. 58,832 people applied for 105 affordable housing spots at 1133 Manhattan Avenue

    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]

  • Leaked images reveal Virgin Hotel designs

    Lam Group project set to go up in NoMad will encompass 440,000 square feet
    August 22, 2014 01:20PM
    From left: Two leaked rendering of Virgin Hotel at 1205 Broadway and Richard Branson

    From left: Two leaked rendering of the Virgin Hotel at 1205 Broadway and Virgin Group founder Richard Branson

    Images for the Virgin Hotel set to rise at 1205-1225 Broadway in NoMad have been leaked. [more]

  • Rockrose’s jumbo rental building in Court Square fully leased

    709-unit structure in Long Island City seen bolstering other projects in area
    August 22, 2014 12:55PM By Claire Moses
    LINC LIC in Court Square

    LINC LIC in Court Square

    Rockrose Development’s LINC LIC — the 709-unit, 42-story rental in Long Island City — is fully leased. [more]

  • Zaha Hadid sues NY Review of Books, critic for defamation

    Attorney says article about Hadid's Al Wakrah stadium project is a "personal attack"
    August 22, 2014 12:30PM
    From left: Zaha Hadid, Al Wakrah stadium rendering and Martin Filler

    From left: Zaha Hadid, rendering of Al Wakrah stadium in Qatar and critic Martin Filler

    Pritzker Prize-winning architect Zaha Hadid is suing critic Martin Filler and the New York Review of Books over what she calls defamatory statements in a series of articles. [more]

  • More Woolworth Building condo floor plans: PHOTOS

    A look at the cheapest and priciest non-penthouse pads at the landmark building
    August 22, 2014 12:00PM By Hiten Samtani
    The Woolworth Building at 233 Broadway and some of the floor plans for the Woolworth Tower Residences

    The Woolworth Building at 233 Broadway and some of the floor plans for the Woolworth Tower Residences

    The Real Deal revealed the floor plans for the record-setting $110 million “Pinnacle” penthouse at Alchemy Properties’ Woolworth Tower Residences yesterday. Now, here’s a look at some of the other units at the condo conversion project, from the cheapest $3.9 million pad to the priciest non-penthouse unit, after the jump.

  • Aby Rosen’s RFR in contract to buy shares of UES co-op

    Deal for 1025 Park Avenue’s shares would be latest in recent slew of moves by firm
    August 22, 2014 11:40AM By David Jones
    Aby Rosen and 1025 Park Avenue

    Aby Rosen and 1025 Park Avenue

    Aby Rosen’s RFR Realty is in contract to acquire all of the shares at the Upper East Side’s Dekoven House at 1025 Park Avenue, The Real Deal has learned.

    Mary Joan Wilder, head officer at the 10-unit co-op, went into contract to sell the shares on July 29, according to documents filed Aug. 14 with the city Department of Finance. Terms of the agreement were not disclosed. [more]

  • Gin Lane property on the market for first time in 50 years

    Southampton power broker Tim Davis marketing $50M parcel; manor next door sold for $80M
    August 22, 2014 11:00AM
    From left: Tim Davis and Gin Lane, Southampton

    From left: Tim Davis and Gin Lane, Southampton

    A beachfront property on Southampton’s Gin Lane will hit the market for the first time in more than 50 years with an asking price of $50 million.

    The 4-acre parcel is next door to Wooldon Manor, which Scott A. Bommer, founder of hedge fund SAB Capital, bought for $75 million and then almost immediately sold for more than $80 million, the Wall Street Journal reported. Tim Davis of Corcoran Group, who handled the sale for Bommer, will also represent the owner of the property, William G. McKnight, according to the newspaper. [more]

  • The Closing with Chris Schlank

    The Savanna head talks about gas guzzlers, catching marlin and not Tweeting — despite owning Twitter’s headquarters
    August 22, 2014 10:30AM By Katherine Clarke
    Chris Schlank (Credit: Max Dworkin)

    Chris Schlank (Credit: Max Dworkin)

    From the August issue: Schlank is the founder and co-managing partner of Savanna, a real estate private equity firm that’s invested $2.3 billion in real estate assets since 2006. Schlank has personally overseen the acquisition and redevelopment of more than 65 real estate assets, comprising over 19 million square feet of space, the vast majority of which has been in New York City. [more]

  • Acadia closes $50M deal for Soho retail co-op

    Sale of 131-135 Prince Street was done through a tax-free exchange
    August 22, 2014 10:00AM
    From left: 131-135 Prince Street and Louis Meisel in 1990

    From left: 131-135 Prince Street and Louis Meisel in 1990

    Acadia Realty Trust officially closed on two retail co-op units at 131-135 Prince Street for $50 million. [more]