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The Real Deal New York

  • Toll Brothers buys Tribeca sites, plans 98-unit condo project

    Developer also signs long-term ground lease in the West Village
    February 26, 2015 06:10PM By Tess Hofmann
    351-355 Broadway

    351-355 Broadway in Tribeca (inset: David Von Spreckelsen)

    Toll Brothers City Living closed on an assemblage of two adjacent parcels in Tribeca this week, and is planning to bring 98 condominiums to the site, The Real Deal has learned. [more]

  • 100 Norfolk Street on the Lower East Side

    100 Norfolk Street on the Lower East Side

    Boston Properties’ Mort Zuckerman mulls Daily News sale. Socialite Emma Hsieh sets Lower East Side record with $7 million penthouse buy. NYC’s priciest studio apartments. Read these stories and more after the jump.

  • setai

    The Setai Hotel in South Beach

    From the February issue: The Nakash Family, founders of the Jordache Jeans empire, purchased The Setai Hotel in South Beach from Lehman Brothers Holdings Inc. for nearly $90 million, the pool of foreign investors looking to secure permanent U.S. residency through the EB-5 program could dry up, impacting investment in South Florida and more in this month’s Florida market report. [more]

  • Sunny skies in store for Hamptons market: report

    Prices up 8.3% in Southampton, 10.6% in Easthampton
    February 26, 2015 05:00PM By Tess Hofmann
    65 First Neck Lane in Southampton (inset: Andrew Saunders)

    65 First Neck Lane in Southampton (inset: Andrew Saunders)

    Economic growth and low interest rates propelled the Hamptons to a record year in 2014, and similarly favorable market conditions seem to be shaping up for 2015, according to a new report by Hamptons brokerage Saunders & Associates. [more]

  • Inside TheRealDeal
  • Dushinsky’s Rabsky Group applies for third building at Rheingold site

    Developer is looking to build a total of 10 buildings at the former brewery location
    February 26, 2015 04:25PM By Claire Moses
    From left: 115 Stanwix Street and the old Rheingold Brewery

    From left: 115 Stanwix Street and the old Rheingold Brewery

    Simon Dushinsky’s Rabsky Group applied for a permit application to build one of its ten proposed residential buildings at the former Rheingold Brewery site, according to documents filed with the city today. [more]

  • Kaufman sells Flatiron office building for $92M

    11-story property last sold in 2013 for $56M
    February 26, 2015 03:45PM
    27-w-24

    27 West 24th Street in the Flatiron District (inset: George Kaufman and Woody Heller)

    The Kaufman Organization sold an 11-story office building in the Flatiron District to an undisclosed buyer for $92 million. [more]

  • Wells Fargo, BofA to refinance MetLife building for $1.4B

    Deal would value the building at $3 billion
    February 26, 2015 03:00PM
    The MetLife Building at 200 Park Avenue

    The MetLife Building at 200 Park Avenue in Midtown East

    Bank of America and Wells Fargo are refinancing Tishman Speyer’s MetLife building for $1.4 billion. [more]

  • NYCHA selling $18M in unused supplies for a pittance

    Agency’s procurement system has previously been deemed broken
    February 26, 2015 02:30PM
    Scott Stringer and NYCHA Chairwoman Shola Olatoye

    Scott Stringer and NYCHA’s Shola Olatoye

    The New York City Housing Authority has been quietly selling off about $18 million worth of unused supplies for a fraction of the price they originally cost taxpayers.

    The goods include furniture, sinks, office supplies and briefcases, according to an investigation by the New York Daily News. Comptroller Scott Stringer is reportedly looking into NYCHA’s purchasing problems, which were previously identified in a 2012 report commissioned by NYCHA’s then-chairman John Rhea. [more]

  • L+M buys LES apartment building for $115M

    Developer plans to preserve the building's affordable housing
    February 26, 2015 02:00PM By Kyna Doles
    From left: 257-271 South Street and L&M’s Ron Moelis

    From left: 257-271 South Street and L&M’s Ron Moelis

    L+M Development Partners and Nelson Management Corp. jointly acquired a 256-unit apartment building at 257-271 South Street on the Lower East Side for $115 million, according to property records filed with city today. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    February 26, 2015 01:30PM

    1. Ira Rennert’s Hamptons estate valued at $500M
    2. Agnelli family to sell Cushman & Wakefield
    3. Donald Trump sets his sights on the Oval Office

    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]

  • Rapper T.I.’s clothing line inks deal for NYC showroom

    AKOO to occupy 9K square feet at 231 West 39th Street
    February 26, 2015 01:05PM
    T.I. and 231 East 39th Street

    T.I. and 231 East 39th Street in Midtown

    Multihyphenate rap star T.I. has leased a second-floor showroom space for his clothing line, AKOO, at 231 West 39th Street.

    The 12-year, 9,355-square-foot lease is in a Midtown building, also known as the Contemporary Fashion Center, which recently got a brand new lobby. Asking rent for the space was $45 per square foot, the New York Post reported. [more]

  • RXR floats idea of cruise-ship hotel at SuperPier

    Pier 57 sits atop "sunken concrete box"
    February 26, 2015 12:35PM By Rich Bockmann
    From left: A rendering of the SuperPier and a Bud Light-branded cruise ship/hotel

    From left: A rendering of the SuperPier and a Bud Light-branded cruise ship/hotel

    The New York-New Jersey Super Bowl had an ocean-liner hotel, so why shouldn’t the SuperPier? [more]

  • City Council to declare ritual rent emergency

    Measure is required to pass certain rent-regulation laws
    February 26, 2015 12:00PM
    From left: Jumaane Williams and Corey Johnson

    From left: Jumaane Williams and Corey Johnson

    In the run-up to June’s rent regulation showdown in Albany, the City Council today will introduce measures to declare a rent emergency in the five boroughs, a ritual that the body goes through periodically as a prerequisite to passing certain rent-regulation laws.

    The declarations happen every three years after a required survey of the city’s rental stock. In order to declare an emergency, the city’s vacancy rate must fall at or below 5 percent. According to the most recent survey, the current vacancy rate is 3.45 percent, Capital New York reported. [more]

  • A five-month affair: Fabienne Lecole returns to Corcoran after cameo at William Raveis

    Lecole was among Corcoran’s top 2% of agents in 2014; Town's Lyon Porter also joins firm
    February 26, 2015 11:30AM By E.B. Solomont
    From left: Fabienne Lecole and Pamela Liebman

    From left: Fabienne Lecole and Pamela Liebman

    UPDATED, 1:28 p.m., Feb. 26: Just five months after leaving the Corcoran Group for startup brokerage William Raveis NYC, top producer Fabienne Lecole is rejoining her former firm, The Real Deal has learned.

    Lecole, a Corcoran veteran, was one of William Raveis’ first big hires. She joined a few months after the suburban powerhouse launched in New York City. [more]

  • Madison, Thor hope 212 address adds New York street cred

    The number calls to mind the much-desired, old-school area code
    February 26, 2015 11:10AM
    From left: Joseph Sitt, 212 Fifth Avenue in Nomad and Robert Gladstone

    From left: Joseph Sitt, 212 Fifth Avenue in NoMad and Robert Gladstone

    Madison Equities’ Robert Gladstone and Thor Equities’ Joseph Sitt are aiming to capitalize on the coveted address of their planned condominium conversion at 212 Fifth Avenue.  [more]

  • Consumer protection agency launches incomplete rate tracker

    CFPB mortgage tool fails to include points, fees in rate estimates
    February 26, 2015 10:40AM By Kenneth Harney
    From left: Steve Stamets and David Stevens

    From left: Steve Stamets and David Stevens

    From the February issue: When the federal government’s consumer protection agency for financial matters tells you how to shop for a good deal on a home mortgage, you should follow the advice, right? Maybe some of it.

    The Consumer Financial Protection Bureau, which was created in the backwash of the worst national mortgage disaster since the Great Depression, went online with a new interactive mortgage tool last month. The CFPB’s website offers helpful tips on shopping and has a guide to loan alternatives, closing costs and a “rate checker” feature. [more]

  • "Working Girl" townhouse at 66 Morton Street

    “Working Girl” townhouse at 66 Morton Street

    “Working Girl” townhouse sold for $17 million. A look at Adam America’s new Williamsburg apartment building. Empire Stores will feature Vinegar Hill House and Pizza East. Read these stories and more after the jump.

  • De Blasio hesitant to take position on 421a tax break

    Mayor promised more details and analysis about the program's fate in the near future
    February 26, 2015 09:40AM
    From left: Mayor Bill de Blasio and tenant advocates protesting 421a last week

    From left: Mayor Bill de Blasio and tenant advocates protesting 421a last week

    Mayor Bill de Blasio did not take a firm stand on the future of the 421a tax abatement during his testimony in Albany yesterday. [more]

  • AG cracks down on CIM Group’s illegal Midtown hotel

    Hotel will be closed by March 10 and the building's units will become rent-regulated
    February 26, 2015 09:10AM
    From left: 49 East 34th Street and Richard Ressler

    From left: 49 East 34th Street and CIM Group co-founder Richard Ressler

    The state’s attorney general’s office is closing a 36-story, illegal hotel owned by an affiliate of 432 Park co-developer CIM Group.

    The property at 49 East 34th Street was supposed to be a condominium, but its owners — who received millions in tax breaks for the creation of affordable units — turned it into a hotel instead, charging $239 per night for a studio and $359 per night for a two-bedroom unit, according to the New York Times. [more]

  • Saudi prince’s Trump Place triplex lists for $48.5M

    10,500-square-foot unit includes three panic rooms, a six-person jacuzzi and a sushi bar
    February 26, 2015 08:35AM
    From left: Raphael De Niro, Ryan Serhant and the triplex at the Heritage at Trump Place

    From left: Raphael De Niro, Ryan Serhant and the triplex at the Heritage at Trump Place

    A Saudi prince’s massive Upper West Side triplex that features a sushi bar, a cigar room and three panic rooms has hit the market for $48.5 million. [more]

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