The Real Deal New York

  • You can pick up a castle in the Czech Republic for $21k

    February 06, 2016 05:00PM TRD WEEKEND EDITION
    A Czech castle

    A Czech castle

    From Luxury Listings NYC: VIP Castle is a Czech Republic-based real estate firm, but as the name suggests, it’s not just any brokerage. VIP Castle specializes in historic buildings, also known as… castles. [more]

  • A look at the most diverse neighborhoods in NYC: MAP

    In 2011, 47.8 percent of Queens residents were foreign-born
    February 06, 2016 04:00PM TRD WEEKEND EDITION
    Jackson Heights, Queens

    Jackson Heights, Queens

    They don’t call NYC a melting pot for nothing. According to a 2010-2014 American Community Survey, 37 percent of New York City residents come from another country. Now, the NYU Furman Center has released a map visualizing where those foreign-born New Yorkers live throughout the five boroughs. [more]

  • Plans for mile-high skyscraper unveiled in Japan

    "Next Tokyo" is a mini city centered around a 5,577-foot skyscraper
    February 06, 2016 03:00PM TRD WEEKEND EDITION
    A rendering of Next Tokyo

    A rendering of Next Tokyo (credit: Kohn Pedersen Fox)

    We’re living in the age of the super tower. Around the world, buildings are reaching record heights. But the next generation of super-tall buildings is preparing do something that seems like science fiction: break the mile-high barrier. [more]

  • From the archives: Rethinking loft measurement in cubic form

    February 06, 2016 02:00PM TRD WEEKEND EDITION
    Leonard Steinberg Compass

    Leonard Steinberg

    Two brokers in Douglas Elliman’s downtown office are pushing for a new way to measure property- by volume rather than square footage.

    Leonard Steinberg and Herve Senequier, who specialize in selling lofts, say that measuring space according to its “cubic factor”, or cubic footage, provides a more accurate value of an apartment’s worth. Read the full story from the July 2003 issue here.

  • Inside TheRealDeal
  • Mayfair Studios

    Mayfair Studios

    From Luxury Listings NYC: Mayfair Studios was once one of the most famous recording studios in the world. Among the many, many names who passed through its doors are David Bowie, Tina Turner, Pink Floyd and the Smiths. After facing financial problems, the studio closed in 2008, and now the iconic (and absolutely stunning) property is on the market for £24 million (about $35 million). [more]

  • Slate Property Group to demolish piece of “the Collective”

    The Murray Hill tenement building is one of seven Slate purchased in 2013
    February 06, 2016 12:00PM TRD WEEKEND EDITION
    203 East 33rd Street

    203 East 33rd Street in Murray Hill on the far left

    An early 20th Century tenement building in Murray Hill will soon be razed. Slate Property Group has filed permits to fully demolish the building at 203 East 33rd Street. [more]

  • Converted chapel back on the market in New Orleans

    The unit was once owned by vampire enthusiast Anne Rice
    February 06, 2016 11:53AM TRD WEEKEND EDITION
    Anne Rice home

    The chapel condo in New Orleans and Anne Rice

    A unique “religious-chic” home in a converted orphanage in New Orleans is back on the market following a price chop. The condo was once the orphanage chapel, where vampire romance writer Anne Rice may have once called it home. [more]

  • This college student decided to build a $15,000 tiny home instead of live in a dorm

    Take a peek inside his unconventional "student housing"
    February 06, 2016 10:00AM By Business Insider
    Courtesy of Joel Weber

    Courtesy of Joel Weber

    Before he enrolled at the University of Texas at Austin, design major Joel Weber took one look at the rising cost of living for a struggling college student and knew dorm life wasn’t for him. [more]

  • Don’t just park your car in a garage, park it in a porte-cochere

    February 06, 2016 09:17AM TRD WEEKEND EDITION

    The porte-cochere at the Dakota

    From Luxury Listings NYC: Porte-cocheres are appearing in the long list of amenities in new luxury developments once again. Just look at buildings like 20 East End Avenue, 50 UN Plaza, 111 West 57th Street and 252 East 57th Street, which all include the feature. [more]

  • A Moinian soirée at Hotel Hugo: PHOTOS

    Developer hosted small gathering at the hotel's Bar Hugo
    February 05, 2016 06:39PM By Alistair Gardiner
    Morris Moinian, Ismael Leyva, Frank Seta and Joe Moinian

    Morris Moinian, Ismael Leyva, Frank Seta and Joe Moinian

    Rainy skies on Wednesday cleared just in time for drinks and nibbles at the Hotel Hugo, where Fortuna Realty Group president Morris Moinian entertained a small gathering of friends and associates. [PHOTOS]

  • Beninati’s Bauhouse seeks $80M mezz loan for 3 Sutton Place

    Developer scales back plans for East Side skyscraper, which is now projected to cost $750M-plus
    February 05, 2016 06:20PM By Farah Halime

    A rendering of 3 Sutton Place on the Upper East Side (inset: Joseph Beninati)

    Joseph Beninati’s Bauhouse Group is seeking an $80 million mezzanine loan to fund his troubled residential skyscraper project at 3 Sutton Place, according to investor documents reviewed by The Real Deal. [more]

  • Preet Bharara hits Glenwood with wheelchair accessibility suit

    US attorney claims firm's Liberty Plaza building built with "scores of inaccessible features"
    February 05, 2016 06:10PM
    10 Liberty Street NYC

    From left: Preet Bharara, 10 Liberty Street in the Financial District (credit: Manhattan Scout) and Leonard Litwin

    Leonard Litwin’s Glenwood Management is once again in the crosshairs of Manhattan’s U.S. Attorney Preet Bharara – this time over wheelchair accessibility at one of the Long Island-based landlord’s apartment buildings. [more]

  • Border war: Park Slope resident claims Hidrock’s theater conversion encroaches on property

    Janet Scherer claims land that's technically on Pavilion Theater property as her own
    February 05, 2016 05:55PM By Rey Mashayekhi
    Pavilion Theater NYC

    494 14th Street in Park Slope, next to the Pavilion Theater (inset: Abraham Hidary)

    Hidrock Realty’s planned condo conversion of the Pavilion Theater in Park Slope continues to face new hurdles, with a neighboring resident claiming the project encroaches on her backyard. [more]

  • Vice co-founder puts W’burg PH on the market for $2.5M

    Gavin McInnes bought unit at 80 Metropolitan for $1.15M in 2011
    February 05, 2016 05:40PM
    80 Metropolitian Avenue in Williamsburg and Gavin McInnes

    80 Metropolitan Avenue in Williamsburg and Gavin McInnes

    Breaking hipster news: Gavin McInnes, one of Vice Magazine’s co-founders, is listing his Williamsburg corner penthouse for almost $2.5 million. [more]

  • Developers of 125 Greenwich in talks with Singaporean bank for $500M-plus construction loan

    United Overseas Bank preparing term sheet to finance FiDi supertall
    February 05, 2016 05:25PM By Mark Maurer and Damian Ghigliotty
    125 Greenwich St

    From left: Proposed rendering of 125 Greenwich Street (credit: ArX Solutions), Davide Bizzi, Michael Shvo and Howard Lorber (credit: Max Dworkin)

    The developers of a supertall Financial District condominium tower at 125 Greenwich Street are in advanced talks to land just north of $500 million in construction financing, separate from a round of EB-5 funding, The Real Deal has learned. [more]

  • Ian Schrager locks in $50M construction loan for 160 Leroy

    Developer aims for a $470M sellout at the West Village project
    February 05, 2016 05:10PM By Ariel Stulberg
    160 Leroy Ian Schrager

    A rendering of 160 Leroy Street in the West Village (inset: Ian Schrager)

    Hotelier and developer Ian Schrager is one step closer to building 160 Leroy Street, securing a $50M construction loan from Dublin-based Talos Capital Limited. [more]

  • From the February issue’s “In their words” feature, a roundup of the funniest and most insight comments on real estate:

    John Liang Chinese buyers real estate

    To read the full feature, click here.

  • FBI, IRS search former insurance magnate’s offices

    Raid indicates active criminal investigation into Alexander Chatfield Burns
    February 05, 2016 04:20PM
    Alexander Chatfield Burns

    Alexander Chatfield Burns (credit: Museum of American Finance)

    Federal authorities raided the Manhattan office of insurance magnate Alexander Chatfield Burns’ former company Southport Lane Management last month, indicating an active criminal investigation into Burns’ insurance dealings.

    About a dozen FBI and IRS agents showed up unannounced at Southport Lane’s offices on Jan. 14 and carted off more than 20 boxes of material as well as copies of computer hard drives, according to the Wall Street Journal. [more]

  • CalPERS closes on purchase of 787 Seventh for $1.9B

    AXA Financial is also close to selling adjacent office tower at 1285 Sixth
    February 05, 2016 03:55PM By Dusica Sue Malesevic
    787 Seventh Avenue

    787 Seventh Avenue in Midtown and CalPERS CEO Anne Stausboll

    CalPERS, a California pension fund, closed on the purchase of a 1.7 million-square-foot office tower at 787 Seventh Avenue for $1.9 billion from AXA Financial, according to property records filed with the city Friday.

    The fund signed a contract in December to acquire the 51-story tower, located between West 51st and West 52nd streets. The property, built in 1985, houses offices for Swiss bank UBS AG among other tenants. The building has a 98.4 percent occupancy rate, according to CoStar. [more]

  • HSBC to pay $470M to settle federal foreclosure abuse probe

    Megabank also agreed to reform its mortgage-servicing practices
    February 05, 2016 03:35PM
    From left: HSBC's Stuart Gulliver, 452 Fifth Avenue in Midtown and Loretta Lynch

    From left: HSBC’s Stuart Gulliver, 452 Fifth Avenue in Midtown and Loretta Lynch

    London-based megabank HSBC agreed to shell out $470 million to end a series of investigations by the U.S. Justice Department and 49 state governments into its mortgage-servicing practices following the 2008 financial crisis.

    The government agencies were investigating allegations that HSBC employed tactics such as the robo-signing of documents aimed at stifling mortgage borrowers’ attempts to avoid foreclosure. [more]