The Real Deal New York

  • The Coney Island Boardwalk

    The Coney Island Boardwalk

    What Coney Island can learn from Atlantic City’s mistakes. What makes a great doorman. Apartment with surreal art collection hits the market. Read these stories and more after the jump.

  • Tenants at Mitchell-Lama site in Brooklyn go after co-op board

    Residents at 54 Boerum Street look to change election process in battle with cooperative
    August 22, 2014 09:00AM
    54 Boerum Street

    54 Boerum Street

    Residents of one of the city’s largest middle-income housing cooperatives are petitioning against their co-op board.

    The residents of the Lindsay Park Housing Cooperative at 54 Boerum Street in Brooklyn — together with Community Board 1 Chairwoman Dealice Fuller — maintain that the board has used an unfair and confusing election process. The petition is meant to change that, residents say. [more]

  • 6 major projects in Greenpoint

    No longer in the shadow of Williamsburg, the Brooklyn nabe is seeing a rush of developments
    August 22, 2014 08:30AM By Claire Moses
    Rendering of 77 Commercial Street

    Rendering of 77 Commercial Street

    A lack of service on the G train this summer has not slowed down development in the Greenpoint area. In August alone, two major developments — 145 and 161 West Street— were resuscitated after being stalled. Here then, are six notable projects on the Greenpoint waterfront.

  • Brooklyn’s fast-growing retail strips flirt with records

    Rents approach or exceed $200 per square foot in some areas
    August 22, 2014 08:06AM By Tom DiChristopher

    Rent along some of Brooklyn’s most attractive retail strips is testing old boundaries and, in some cases, hitting new records per square foot.

    [more]

  • Inside TheRealDeal
  • Most popular stories on The Real Deal

    August 22, 2014 07:20AM

    Current reader favorites:
    1. Revealed: Floor plans for $110M Woolworth penthouse: PHOTOS
    2. Real estate tech firm Hightower raises $6.5M in funding round
    3. Manhattan office towers keep getting pricier — but incomes lag behind
    4. The Wrap: World’s most expensive penthouse is $318M, New Yorkers can now control two skyscrapers’ lighting with a mobile app … and more
    5. Lauren Bacall’s Dakota home to hit the market

  • Great Neck firm set to spend $43M on summer retail splurge

    Klosed Properties bets on rising rents in hot nabes near South Street Seaport and Times Square
    August 21, 2014 06:20PM By Rich Bockmann
    From left" 202 Spring Street and 46-50 Fulton Street

    From left: 202 Spring Street and 46-50 Fulton Street

    A small retail-acquisition firm out of Great Neck, L.I.’s Persian real estate community had an active summer and is on track to spend $43 million on a handful of properties that it’s betting will command top dollar by the time their leases expire. [more]

  • Sam Chang buys Midtown mental health facility for $51M

    Developer to either build hotel or rentals after property becomes vacant
    August 21, 2014 06:05PM
    mental-health

    334 West 36th Street (Inset: Sam Chang)

    Hotel developer Sam Chang of Great Neck, N.Y.-based McSam Hotel Group has added yet another Midtown West property to his portfolio with the purchase of the six-story Postgraduate Center for Mental Health for $50.8 million. [more]

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    August 21, 2014 05:50PM

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  • Inside the $8M townhouse at 5-46 51st Avenue in Long Island City

    Inside the $8M townhouse at 5-46 51st Avenue in Long Island City

    “Off-the-papers” buys crank out big profits. LIC townhouse hits the market for $8M. “Million Dollar Listing New York” star Luis Ortiz rumored to have made Abington House buy. Read these stories and more after the jump.

  • No rush when it comes to FICO’s new credit score: Harney

    Most homebuyers unlikely to see any direct benefit from Score 9 for years
    August 21, 2014 05:05PM By Kenneth Harney
    brown-greene

    NAR’s Steve Brown and Fair Isaac’s Mark Greene

    You may have noticed the big media splash recently when Fair Isaac, developer of the iconic FICO credit score, announced the debut of a new score version that no longer would penalize consumers who have medical debt-collection issues in their credit files.

    The announcement hit the front pages of publications such as the Wall Street Journal and was highlighted on national TV network news. Steve Brown, president of the National Association of Realtors, was so enthusiastic about the new score’s potential that he predicted it would “make a real difference in the lives of millions of Americans who have been shut out of the housing market or forced to pay higher mortgage interest rates because of flawed credit scores.” [more]

  • This month in real estate history

    1942: Bank forecloses on legendary Collyer home
    August 21, 2014 04:40PM By Adam Pincus
    The Collyer Brothers' home

    The Collyer Brothers’ home

    From the August issue: The Bowery Savings Bank filed to foreclose on the Harlem brownstone where the reclusive brothers Homer and Langley Collyer lived 72 years ago this month. The move to take the house came five years before they died inside it, victims of the home’s 100 tons of refuse and clutter. [more]

  • Witkoff, Lightstone Group latest to eye Israeli capital markets

    New York developers reportedly mulling $141M bond offerings
    August 21, 2014 04:15PM
    From left: Steven Witkoff and David Lichtenstein

    From left: Steven Witkoff and David Lichtenstein

    The Witkoff Group’s Steven Witkoff and David Lichtenstein of the Lightstone Group are gearing up to follow Extell’s Gary Barnett by tapping the Israeli capital markets for debt.

    Both developers are reportedly mulling bond offerings expected to generate 500 million shekels, or $141.6 million, each. Should Lichtenstein’s plans move forward, it would mark the eighth such offering by an American property developer on the Israeli market in recent months, according to Haaretz. [more]

  • Brooklyn sees record investment sales in first half of 2014

    The total dollar amount of deals in the borough was $3.4 billion in the first half of 2014
    August 21, 2014 03:45PM
    (Credit: Maurice Mayfield)

    (Credit: Maurice Mayfield)

    The Brooklyn investment market is on track to break another record this year, according to a report from real estate firm Massey Knakal Realty Services. [more]

  • Crunch gym on Upper West Side getting 22 apartments above it

    Addition to expand height of building on West 83rd Street from 25 to 70 feet
    August 21, 2014 03:15PM
    crumbs

    158-162 West 83rd Street and rendering

    New York-based real estate firm Parkwood Realty Associates plans to construct a three-story residential addition on top of the Crunch gym on the Upper West Side. [more]

  • Brookfield scores major tenant for Manhattan West

    Law firm Skadden, Arps, Slate, Meagher & Flom to take 500K sf spread
    August 21, 2014 02:45PM
    Rendering of Brookfield Properties' Manhattan West

    Rendering of Brookfield Properties’ Manhattan West

    Law firm Skadden, Arps, Slate, Meagher & Flom has agreed to relocate its global headquarters to a 500,000-square-foot spread at Brookfield Office Properties’ $4.5 billion megaproject between Ninth and 10th avenues in the West 30s. [more]

  • New York to get chunk of record Bank of America settlement

    State will receive $800M out of $16.5B total; payment to include $125M for affordable housing
    August 21, 2014 02:20PM
    Bank of America and New York Attorney General Eric Schneiderman

    Bank of America and New York Attorney General Eric Schneiderman

    New York will receive an $800 million chunk of a national $16.65 billion settlement with Bank of America, state Attorney General Eric Schneiderman announced today.  [more]

  • Lauren Bacall’s Dakota home to hit the market

    Late actress purchased the property in 1961 for $48,000
    August 21, 2014 01:55PM
    From left: Lauren Bacall in "How to Marry a Millionaire", the Dakota and the actress in "All I Want for Christmas"

    From left: Lauren Bacall in “How to Marry a Millionaire,” the Dakota and the actress in “All I Want for Christmas”

    Lauren Bacall’s home at the Dakota, where the legendary actress resided for more than half a century until her death earlier this month, will soon hit the market. [more]

  • Hotel developer: LIC pastor tried to extort money from firm

    Bishop Taylor denies claim, says he wants locals hired on company's project in Queensbridge
    August 21, 2014 01:30PM
    hojo

    Howard Johnson in Long Island City, and George Frangoulis

    The boss of a developer of a Howard Johnson hotel heading to Long Island City, Queens accused a local pastor of attempting to extort money from the company.

    Bishop Mitchell Taylor denied the claims, saying he is pushing for the hotel operators to agree to hire workers who reside at the Queensbridge Houses at 41-1 12th Street. The public housing development is in close proximity to the old Howard Johnson location at 38-71 13th Street. [more]

  • Tenants allege age discrimination at Upper West Side building

    Stonehenge bars rent-regulated tenants from building's gym; majority of those residents are seniors
    August 21, 2014 01:05PM
    Stonehenge Village at 135 West 96th Street

    Stonehenge Village at 135 West 96th Street

    Tenants of an Upper West Side mixed-income building allege the landlord is discriminating against the elderly by barring low-income residents from using the property’s on-site gym.

    The battle broke out earlier this year after Stonehenge Partners reserved the gym at Stonehenge Village at 135 West 96th Street strictly for market-rate tenants. In an update to an earlier complaint cited by DNAinfo, 74-year-old tenant association president Jean Dorsey said 66 percent of rent-regulated residents at Stonehenge Village are 65 or older, while just 5 percent of wealthier tenants fall in that demographic. [more]

  • Arlene Farkas’ 14-room duplex headed to auction block

    Public foreclosure to follow co-op board's thumbs down on deal with French government
    August 21, 2014 12:40PM
    From left: Arlene Farkas and River House

    From left: Arlene Farkas and River House

    Department store heir Bruce Farkas’ ex-wife’s apartment is up for a public foreclosure auction. [more]

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