The Real Deal New York

  • Skanska-led group to helm $4B LaGuardia overhaul

    Port Authority taps team of developers and financial firms for the project
    May 28, 2015 03:55PM
    LaGuardia Airport

    LaGuardia Airport and Skanska’s Richard Cavallaro

    The Port Authority of New York and New Jersey selected a consortium led by Swedish construction firm Skanska to undertake a $4 billion overhaul of LaGuardia Airport’s Central Terminal. [more]

  • Peter Fine picks up another Miami Beach home

    New York-based developer paid $9.5M for the property
    May 28, 2015 03:20PM By Katherine Kallergis
    6342 North Bay Road and Peter Fine

    6342 North Bay Road in Miami Beach and Peter Fine

    From the South Florida website: New York real estate developer Peter Fine just acquired another waterfront home in Miami Beach for $9.5 million, with plans to raze it and develop a spec home, The Real Deal has learned.  [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    May 28, 2015 02:50PM

    1. Moinian raises $361M on Israeli bond market
    2. Bel Air estate to ask record-shattering $500M
    3. U.S. may seize properties owned by arrested FIFA officials

    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]

  • City aims to ease worries about rezoning proposal

    Preservationists have opposed the changes that will affect contextual zoning districts
    May 28, 2015 02:20PM
    From left: Planning Chair Carl Weisbrod and Park Slope Civil Council's Peter Bray

    From left: Planning Chair Carl Weisbrod and Park Slope Civil Council’s Peter Bray

    While community leaders are increasingly growing nervous about Mayor Bill de Blasio’s rezoning proposal, representatives of the city are trying to put those worries at ease.

    City Planning Chair Carl Weisbrod has extended the comment period on the proposed changes and wrote a letter to explain the goals of the zoning, according to Crain’s. The new zoning code would allow for more density in contextual zoning districts. Weisbrod has said it will promote “affordable housing and better quality buildings.” [more]

  • Inside TheRealDeal
  • NYC’s “macho” hardhat culture needs to change: experts

    Safety advocates say workers actively resist safety harnesses
    May 28, 2015 01:45PM By Rich Bockmann

    From left: Lunch atop a Skyscraper (1932), “Macho Man” Randy Savage, and an Instagram atop 432 Park Avenue (Credit: NOIS7)

    From the iconic black-and-white photos of construction workers lunching on steel crossbeams to daredevils’ outlaw Instagram shots snapped from atop rising skyscrapers, there are certain bragging rights that come with risking one’s neck high above Manhattan.

    But what these pictures fail to capture is the many – and often deadly – falls that happen on construction sites. Amid the recent discussions surrounding construction safety there is a consensus among industry experts that the jobs would be safer if the brawny hardhats that fill them would give up long-held, “macho” attitudes about their jobs and get in line with safety programs. [more]

  • "Thelma and Luis" (Credit: Victoria Tuturice)

    “Thelma and Luis” (Credit: Victoria Tuturice)

    Last night’s episode of “Million Dollar Listing New York” was more about love — romantic and familial — than about real estate. Sure, there were still a few buildings thrown in as props in the background and idle chatter about price per square foot, along with a sprinkling of snowy mountain vistas thrown in for a real estate porn fix, but with a wedding and birth planning in the mix, we are made to care more about our stars’ personal lives than their professional ones. [more]

  • Bergen Gardens multifamily complex asking $58M

    Developer Victor Gartenstein owns Bergen Beach apartments, commercial space
    May 28, 2015 12:45PM
    Bergen Gardens multifamily complex in Brooklyn and James Nelson

    Bergen Gardens complex in Brooklyn and James Nelson

    Victor Gartenstein’s six-building Bergen Gardens multifamily complex and an adjacent commercial space in Brooklyn’s Bergen Beach neighborhood are on the market and asking $58 million.

    The portfolio features six apartment buildings – at 1061, 1073 and 1089 East 73rd Street and 1054, 1070 and 1086 Bergen Avenue – as well as a commercial retail pad site. The six walkup, garden-style buildings feature 144 residential units across roughly 168,000 square feet. [more]

  • JRC Management pays $28M for 94-unit Sunnyside rental

    Seller BRG Management owned 80K sf property for little over a year
    May 28, 2015 12:13PM By Tess Hofmann
    43-31 45th Street in Sunnyside

    43-31 45th Street in Sunnyside

    UPDATED, May 28, 1:03 p.m.: Richard Podpirka’s JRC Management picked up a 94-unit rental building in Sunnyside, Queens, from BRG Management for $27.5 million. [more]

  • Coming soon: The Real Deal’s NJ market report

    40-plus page supplement to include Northern New Jersey real estate coverage
    May 28, 2015 11:45AM

    The Real Deal 
    is taking its first step into the New Jersey real estate market with the launch of a special supplement, which will be included in the July 2015 issue of the magazine.

    The 40-plus page print supplement will take an in-depth look at the Northern Jersey residential and commercial real estate markets, with a specific focus on Hudson, Bergen, Union and Monmouth counties.

    Topics include a ranking of the area’s biggest residential firms, a look at what’s next for development on the Gold Coast, office and retail coverage and profiles of key industry players.

    Subscribe to the magazine to receive your copy in the June issue, and keep your eyes peeled for the digital version, which will be live on early next week. — TRD

  • Heritage Equity Partners plans 144-hotel in Bushwick

    Toby Moskovits' firm bought the land for $28 million in December
    May 28, 2015 11:13AM By Claire Moses
    Heritage Equity Partners' Toby Moskovits and 191-231 Moore Street

    Heritage Equity Partners’ Toby Moskovits and 191-231 Moore Street

    For the third time in two weeks, a developer is counting on Bushwick’s future as a tourist hot spot.

    Toby Moskovits’ Heritage Equity Partners filed plans with the city Thursday to build a 144-key hotel at 232 Seigel Street, located between Bushwick Avenue and White Street. [more]

  • 190 Bowery in Nolita

    190 Bowery in Nolita (credit: Pico Means Little)

    The art of terrible listing photos. Street Artist wraps Aby Rosen’s 190 Bowery in gentrification tape. Pritzker heir wants $16 million for his West Village townhouse. Read these stories and more after the jump.

  • From left: Donna Olshan and JLL's Stephen Shapiro

    From left: Donna Olshan and JLL’s Stephen Shapiro

    From the May issue: Apartment sales took a respite last quarter, even as the rental market heated up. The number of apartment units sold in Manhattan declined in the first quarter by nearly 20 percent to 2,661 from 3,307, figures from Miller Samuel showed. Median pricing fell as well. [more]

  • City has no funds to acquire site of Williamsburg fire

    Bloomberg administration had promised to convert the land into a park
    May 28, 2015 10:00AM
    January fire in Williamsburg (inset: Mitchell Silver)

    January fire in Williamsburg (inset: Mitchell Silver)

    When a warehouse on the Williamsburg waterfront burned down earlier this year, it stoked speculation about possibilities for the premium land. During Michael Bloomberg’s mayoral administration, the city had promised to acquire the lot for parkland — but developers were also circling the site for potential residential development. [more]

  • Brooklyn Bridge Park’s Pier 6 towers to move forward following settlement

    Temporary restraining order has been lifted
    May 28, 2015 09:30AM
    Rendering of Pier 6 towers

    Rendering of Pier 6 towers in Brooklyn Bridge Park

    Two planned residential towers at Brooklyn Bridge Park’s Pier 6 can move forward with construction after a park advocacy group settled its lawsuit against the Brooklyn Bridge Park Corporation.

    The group had argued that the city organization reneged on an agreement with its last-minute plan to include affordable housing and did not carry out proper environmental studies, according to the New York Daily News. The advocates were able to secure a temporary restraining order, which has now been lifted. [more]

  • Michael Jordan slashes ask on Chicago manse

    His Airness’ estate sports an indoor basketball court and putting green
    May 28, 2015 09:00AM
    Michael Jordan

    Michael Jordan

    Michael Jordan may be a basketball legend — but he’s no whiz at selling real estate. His mega-estate outside of Chicago has been on the market since 2012, and just saw its price slashed to $14.855 million, down from an original ask of $29 million. [more]

  • De Blasio calls out Cuomo for stalling on 421a

    Mayor traveled to Albany to round up support for his proposal
    May 28, 2015 08:30AM
    From left: Bill de Blasio and Andrew Cuomo

    From left: Bill de Blasio and Andrew Cuomo

    Mayor Bill de Blasio traveled to Albany yesterday in a last-minute effort to galvanize the legislature and the governor to act on 421a and rent regulation issues — but told reporters that he saw few encouraging signs of progress.

    “We need action from the other two bodies,” de Blasio said. “In particular, we need the governor to act. We need leadership and we know the governor has been able in the past to make real change here in Albany and get big things done. This is a moment when we need that leadership.” [more]

  • Madison Avenue is missing the Whitney

    Retailers hoping new Apple store will bring foot traffic to the area
    May 28, 2015 08:00AM
    The former home of the Whitney Museum at 945 Madison Avenue on the Upper East Side

    The former home of the Whitney Museum at 945 Madison Avenue on the Upper East Side

    Times they are a-changin’ on the Upper East Side’s Madison Avenue, which has been without the Whitney since its closing in October. Foot traffic has dropped by roughly 200,000 people over the last seven months. [more]

  • Current reader favorites:
    1. HFZ, Fascitelli eyeing Brooklyn development site
    2. Crowdfunder Prodigy to buy Ring portfolio buildings for $100M
    3. Here’s what Midtown’s skyline could look like in 2030
    4. Neighborhood Dive: A well-kept Brooklyn secret is out
    5. Here’s what the $10M-$20M NYC investment sales market looked like last week 

  • US may seize these properties owned by arrested FIFA officials

    Top soccer execs charged with corruption, conspiracy and racketeering
    May 27, 2015 07:24PM By Kyna Doles
    Jeffrey Webb, 2116 Adel Drive, GA, 808 Brickell Key Drive, FL and Jack Warner

    From left: Jeffrey Webb, 2116 Adel Drive, GA, 808 Brickell Key Drive, FL and Jack Warner

    Talk about a well-deserved penalty.

    U.S. prosecutors indicted 14 high-ranking FIFA officials and executives in Zurich Wednesday, and slapped them with a long list of charges including conspiracy, racketeering, and corruption.

    According to an indictment unsealed Wednesday, four of the men own thirteen properties across Florida and Georgia which were allegedly used in connection with the crimes. If convicted, the U.S. government will seek forfeiture of the properties. [more]

  • SL Green’s One Vanderbilt gets Council approval

    Vanderbilt Corridor rezoning also gets the go-ahead
    May 27, 2015 05:55PM
    Rendering of One Vanderbilt in East Midtown (credit: KPF)

    Rendering of One Vanderbilt in East Midtown (credit: KPF)

    The City Council approved plans for SL Green Realty’s One Vanderbilt, the 63-story, 1.6 million-square-foot office tower set to rise next to Grand Central Station.

    This was the final approval needed for the developer to officially move forward. City Planning approved the proposal in late March, and the City Council’s zoning subcommittee gave the thumbs up earlier this month, so the City Council’s approval was expected. [more]