The Real Deal New York

  • James Nederlander, major Broadway landlord, dies at 94

    Company owns or operates nine Midtown theaters
    July 26, 2016 07:10PM By Katherine Clarke
    James Nederlander and the Palace Theater

    James Nederlander and the Palace Theater

    James Nederlander, patriarch of a real estate dynasty that owns several famous venues in the Theater District, died Monday at his Southampton home at the age of 94.

    The Nederlanders are among the Theater District’s biggest landlords — second only to the Shubert Organization — and own or operate nine theaters, including the Minskoff, the Neil Simon, the Gershwin, the Palace and the Nederlander Theatre. [more]

  • Abraham Leser raises $32.5M in Israeli bonds

    Issuance comes three months after Urbancorp default
    July 26, 2016 06:28PM

    Tel Aviv Stock Exchange

    Abraham Leser’s Leser Group is selling $32.5 million worth of bonds on the Israeli market. The issuance will be the first by a North American company since Canadian developer Urbancorp defaulted on its bonds in April.

    Brooklyn developer Leser’s bonds come with a 10-year term and a 6.9 percent coupon, Bloomberg reported. [more]

  • Landlord accused of gutting Harlem building while family still lived there

    Ephraim Vashovsky faces charges including reckless endangerment
    July 26, 2016 06:00PM
    From left to right: Exterior and interior of 21 East 115 Street (credit: Courtesy of the Manhattan District Attorney's Office)

    From left to right: Exterior and interior of 21 East 115 Street (credit: Courtesy of the Manhattan District Attorney’s Office)

    An East Harlem landlord was arrested Tuesday on charges that he began taking apart a 10-unit building while a family of seven still lived there. [more]

  • Moishe Mana says he’ll give $1M to charity if Trump reveals his tax returns

    Returns would shed light on the Donald's business practices and true net worth
    July 26, 2016 05:40PM
    Moishe Mana, left, and Donald Trump (Credit: Michael Vadon)

    From left: Moishe Mana and Donald Trump (credit: Michael Vadon)

    From the South Florida website: Moishe Mana has officially thrown his hat into the ring of high-profile business leaders touting #NeverTrump.

    The Miami mega-developer said he’d donate $1 million to a charity of Donald Trump’s choice if the Republican presidential nominee made the last five years of his tax returns public, according to a report in the Hill. [more]

  • Inside TheRealDeal
  • Brookfield set to award JLL leasing assignment for Manhattan West retail

    Brokerage vice chair Patrick Smith will oversee 250K sf effort
    July 26, 2016 05:20PM By Rich Bockmann
    Manhattan West and Patrick Smith

    Rendering of Manhattan West and Patrick Smith

    Brookfield Property Partners is close to an agreement with JLL awarding the brokerage the leasing assignment for about 250,000 square feet of retail at Manhattan West, sources told The Real Deal. [more]

  • Inside the Four Seasons restaurant auction: A Manhattan landmark goes under the hammer

    Emil Antonucci’s “Four Seasons” sign fetches $96K
    July 26, 2016 05:04PM By E.B. Solomont

    A Wright auctioneer takes bids for coveted Four Seasons furniture and tableware

    There were no bargains to be had, but did anyone expect there to be? Tuesday’s auction featuring roughly 500 items from the iconic Four Seasons restaurant was still equal parts riveting, nostalgic, stressful and – at times – downright gleeful. [more]

  • Tavros, partners file plans for 22-story building on Dime Savings Bank site

    Developers plan to break ground on the Williamsburg property next year
    July 26, 2016 04:40PM By Katherine Clarke and Kyna Doles
    263 South 5th Street in Williamsburg

    263 South 5th Street in Williamsburg

    A development site formerly owned by the Dime Savings Bank of Williamsburg is slated to be transformed into a 22-story mixed-use building with residential and commercial space.

    A partnership between Tavros Development Partners, Charney Construction and 1 Oak Development filed a permit application with the city Tuesday for a new building at 263 South 5th Street. The plans call for 175 apartments across 120,444 square feet of residential space, 111,614 square feet of commercial space and a 980-square-foot community facility. [more]

  • Manhattan’s dev sites, rental buildings get a price boost in first half of 2016

    Overall property and transaction volumes for investments sales were down
    July 26, 2016 04:25PM By Kyna Doles
    Ariel Property Advisors

    (credit: Ariel Property Advisors)

    Demand for Manhattan investment properties fell in the first half of 2016, although buyers were willing to pay a higher price per square foot for multifamily buildings and development sites, according to a mid-year report from Ariel Property Advisors.

  • ABC Carpet & Home shopping Flatiron HQ: sources

    Brokers say luxury rug depot's 880-888 Broadway location could fetch $200M
    July 26, 2016 04:00PM By Mark Maurer
    880 Broadway

    880-888 Broadway in the Flatiron District

    It may soon be time for ABC Carpet & Home to roll out a welcome mat for a new owner of its longtime headquarters.

    The luxury carpet and rug purveyor is shopping around its property at 880-888 Broadway, an office-and-retail condominium that sources said could fetch upwards of $200 million, or over $2,600 per square foot. [more]

  • The Hamptons summer rental market is running hot and cold

    Even as asks hit record highs, some luxury listings are quietly cutting their prices
    July 26, 2016 03:10PM By Judith Messina
    The Southampton Riklis estate has been on the summer rental market, for $2.5 million, for months.

    The Southampton Riklis estate has been on the summer rental market for months.

    From the Hamptons Market ReportIf hope springs eternal, then the record $2.5 million full-season rental listed in Southampton could be exhibit A. Owned by philanthropist Marcia Riklis, the 18,000-square-foot mansion on the prestigious Meadow Lane — complete with a gym, a private dock and servants’ quarters — has been on the Hamptons summer rental market since December. As of June, it still had no takers. [more]

  • Here’s what the $10-$10M NYC investment sales market looked like last week

    Excelsior sells three Crown Heights rentals; Lightstone picks up a Bronx building
    July 26, 2016 02:40PM By Kyna Doles
    30 Rogers Avenue, 1011 1011 Carroll Place and David Liechtenstein

    From left: 30 Rogers Avenue in Park Slope, 1011 Carroll Place in the Bronx and David Lichtenstein

    Last week in the world of mid-market New York City investment sales, Brooklyn-based landlord landlord Yeshaya Wasserman bought 70 rental units in Crown Heights for $14.2 million and Lightstone Group paid $11 million for a Bronx multifamily building.

  • Olbermann sells Trump Palace pad for $3.8M – a $400K loss

    Political commentator publicly declared ‘I’m moving out’ in March op-ed
    July 26, 2016 02:16PM By E.B. Solomont
    200 East 69th Street #40B in Trump Palace on the Upper East Side

    200 East 69th Street #40B in Trump Palace on the Upper East Side (inset from top: Donald Trump and Keith Olbermann)

    Keith Olbermann was serious about wanting to rid himself of his Trump Palace pad. The sports and politics commentator sold the three-bedroom condominium for $3.8 million – a nearly 10 percent loss, according to public records. [more]

  • Home prices are up in the US, but NYC sees weak growth

    Prices only increase 0.3 percent from April to May
    July 26, 2016 01:52PM
    Screen Shot 2016-07-26 at 1.41.59 PM

    Kathryn Brenzel ( S&P’s 10- and 20-city price growth composites from 1988 to 2016

    Home prices in the U.S. continued to climb in May, but New York City and other cities that thrived in the post-recession months are seeing far less growth. [more]

  • Lender wants to take hold of Taxi King’s castles

    Capital One claims Gene Freidman owes $8.4M on taxi-medallion loans
    July 26, 2016 01:33PM By Konrad Putzier
    Gene Freidman and NYC yellow cabs

    Gene Freidman and NYC yellow cabs

    Banking giant Capital One says Taxi King Gene Freidman hasn’t paid his fare on $8.4 million in defaulted loans. [more]

  • Under Armour to take former FAO Schwarz space at GM Building

    Baltimore-based retailer plans to lease 53K sf
    July 26, 2016 12:42PM

    Under Armour’s Kevin Plank (credit: Getty Images) and the GM Building at 767 Fifth Avenue in Midtown

    Apparently, “Protect this House” is more than just a marketing slogan for the active wear retailer Under Armour. [more]

  • Sale of majority stake in Plaza Hotel up in the air

    Family of owners wants at least $600M
    July 26, 2016 11:51AM

    From left: Subrata Roy, the Plaza Hotel at 768 5th Avenue in Midtown and Al-Waleed bin Talal

    The sale of the majority stake in the Plaza Hotel may have hit another roadblock. [more]

  • Sans prenup, Macklowe divorce is likely to get ugly

    Couple expected to fight over art, real estate
    July 26, 2016 11:22AM
    From left: Patricia Landeau (credit: Instagram), Harry Macklowe and Linda Macklowe (credit: Getty Images)

    From left: Patricia Landeau (credit: Instagram), Harry Macklowe and Linda Macklowe (credit: Getty Images)

    It looks like the Macklowes are headed toward an ugly fight over billions of dollars worth of real estate and art. [more]

  • Maya Angelou’s Harlem brownstone sells for $4M

    The late poet bought the house sight unseen in 2002
    July 26, 2016 10:52AM By E.B. Solomont
    Maya Angelou and 58 West 120th Street

    Maya Angelou and 58 West 120th Street

    An unidentified buyer picked up Maya Angelou’s former Harlem brownstone for $4 million – caged bird not included. [more]

  • For US homeowners, it pays to track equity

    There's the knowledge gap about equity-tapping tools and uses
    July 26, 2016 10:35AM By Kenneth Harney

    (credit: Lexi Pilgrim)

    Are millions of homeowners sitting on much bigger equity nest eggs than they think? Do you know how much equity you’ve got? If not, could you be missing opportunities to tap into it for worthwhile projects at close to all-time low interest rates?

    Academic and financial industry research suggests that large numbers of Americans don’t keep track of their equity and don’t really know how they could use it. That’s curious because home equity has almost never been higher or easier to access. [more]

  • Preet Bharara investigating de Blasio’s role in LICH site sale

    Subpoena comes amid Campaign for One New York probes
    July 26, 2016 10:06AM
    Mayor Bill de Blasio, Long Island College Hospital and Preet Bharara

    Mayor Bill de Blasio, Long Island College Hospital at 350 Henry Street in Cobble Hill, Brooklyn and Preet Bharara

    U.S. Attorney Preet Bharara is investigating Mayor Bill de Blasio’s role in the sale of the Long Island College Hospital site in Cobble Hill. [more]