The Real Deal New York

  • Topher Grace asking $16K a month for West Village pad

    "That 70's Show" star bought apartment for $2.2M in 2006
    July 07, 2015 11:30AM
    59 Bank Street in the West Village (inset: Topher Grace)

    59 Bank Street in the West Village (inset: Topher Grace)

    Actor and “That 70’s Show” star Topher Grace is asking $16,000 per month for the two-bedroom West Village apartment he’s putting up for rent. [more]

  • London-based Forum acquires stake in Dermot Co.

    CEO William Dickey steps down; firm to spend $750M on NYC real estate within 18 months
    July 07, 2015 11:00AM By E.B. Solomont

    From left: William Dickey, Stephen Benjamin, Russell Platt and a rendering of 66 Rockwell Place in Downtown Brooklyn

    London-based investment firm Forum Partners acquired a 50 percent stake in the Dermot Co., one of the city’s most active developers of rental apartments, The Real Deal has learned. [more]

  • Crowdfunding without the crowd

    As small-time investors get pushed to the sidelines, the sector is looking less like the populist revolution that was promised
    July 07, 2015 10:30AM By Konrad Putzier

    From the June issue: These are exciting times for Fundrise, the Washington, D.C.-based crowdfunding platform. After spending the bulk of its five years financing small-scale projects, the firm is currently working on its biggest deals yet — by far.

    The company, one of the most high-profile crowdfunding platforms, is raising $10.5 million and $15.5 million for two undisclosed commercial properties in Brooklyn and Atlanta, according to co-founder and president Dan Miller.

    The catch: most of that money won’t actually come from the so-called “crowd.” [more]

  • Developer unable to move into Dakota pad for 16 years: suit

    Robert Siegel sues building's co-op board for $55 million
    July 07, 2015 10:00AM
    From left: Robert Siegel and the Dakota

    From left: Robert Siegel and the Dakota Building on the Upper West Side

    Developer Robert Siegel claims that he has been waiting to move into the former ballroom at the Dakota Building since 1999.

    Siegel bought the apartment for $2 million 16 years ago, the New York Post reported. The iconic building’s co-op board, however, is using the space as storage. [more]

  • Inside TheRealDeal
  • The Peak in Hong Kong

    The Peak, Hong Kong

    Tower crane on site at 217 West 57th Street. These are the top 10 most expensive streets in the world. George Soros‘ daughter in contract to sell West Village apartment for $24 million. Read these stories and more after the jump.

  • Sutton Place residents feel tricked over new skyscraper’s height

    Bauhouse is planning a 900-foot-tall tower near the swanky complex
    July 07, 2015 09:00AM
    From left: Joseph Beninati, a rendering of 426-432 East 58th Street and Sutton Place

    From left: Joseph Beninati, a rendering of 426-432 East 58th Street and Sutton Place

    Sutton Place residents say they are feeling tricked. [more]

  • Moody’s to sign lease at One World Trade Center

    Credit rating service to occupy 80,000 square feet across two floors
    July 07, 2015 08:30AM
    From left: One World Trade Center, Douglas Durst and Moody's CEO Raymond McDaniel

    From left: One World Trade Center, Douglas Durst and Moody’s CEO Raymond McDaniel

    Moody’s Investor Services is reportedly looking to occupy two floors at One World Trade Center. [more]

  • Manhattan office market sees Q2 “rebound”

    For 2015's first half, tepid leasing activity keeps asking rents relatively flat: DTZ
    July 07, 2015 08:00AM By Rey Mashayekhi

    Manhattan average asking rents and “big block” spaces (credit: DTZ)

    The Manhattan office market began to turn around from a “rocky” first quarter, with more than 708,000 square feet of space absorbed in the second quarter and availability dropping to 9.6 percent, according to commercial brokerage DTZ.

    The market for Class A office space performed particularly well, as almost 1.1 million square feet of positive absorption in the second quarter “recovered all the space brought to market” at the beginning of the year and took the year-to-date total to a positive 368,000 square feet.

    Manhattan leasing activity continued to underperform on a year-over-year basis, however – reaching 13 million by the middle of the year, compared to 19.2 million square feet at the same point last year. [more]

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  • Nestle Skin Health signs lease at Alexandria Center for Life Science

    Swiss company will take up 30,400 square feet at the sprawling Kips Bay complex
    July 06, 2015 06:20PM By Konrad Putzier

    The Alexandria Center for Life Science in Kips Bay (inset: CBRE’s John Isaacs)

    Nestle Skin Health inked a 16-year lease for 30,400 square feet at the Alexandria Center for Life Science in Kips Bay. [more]

  • Greek turmoil to have minimal impact on NYC real estate: experts

    Players and analysts weigh in on debt crisis in Europe
    July 06, 2015 06:12PM By Ariel Stulberg
    From left: Sam Chandan, John Catsimatidis, Patrick Chovanec

    From left: Sam Chandan, John Catsimatidis and Patrick Chovanec

    UPDATED, 10:34 a.m., July 7: Greek voters’ overwhelming rejection of European creditors’ austerity-laden loan package makes a Greek exit from the euro more likely than ever. But while prior crises in Europe have led investors there to seek relative safety in assets like New York City real estate, experts told The Real Deal that the effect of the latest turmoil on the property market here will be minimal. [more]

  • Erno Bodek’s Chelsea warehouse hits the market for $65M

    541 West 21st Street marketed as possible office or hotel conversion
    July 06, 2015 05:40PM
    541 W 21

    541 West 21st Street in Chelsea (inset: David Schechtman)

    A century-old warehouse at 541 West 21st Street currently used to store high-end art is being shopped as a possible office or hotel conversion.  [more]

  • Cement workers’ strike ends after court ruling

    Work stoppage affected Related's Hudson Yards, Time's 50 West Street projects
    July 06, 2015 05:20PM
    Related Cos.' 10 Hudson Yards under construction

    Related Cos.’ 10 Hudson Yards under construction

    Work resumed at the Hudson Yards project and other construction sites around the city Monday, after a federal judge ordered New York City Distrcit Council of Carpenters members to end their three-day strike.

    The strike began last week after a breakdown in collective bargaining negotiations between the cement workers’ union and the Cement League, a contractor trade group whose members hire union workers. [more]

  • Day in the Life Of: Kathy Korte

    The Sotheby’s CEO on dreams of being a spy, jet setting around the world and the Packers
    July 06, 2015 04:50PM By Mark Maurer
    Kathy Korte (Credit: Tobias Truvillion)

    Kathy Korte (Credit: Tobias Truvillion)

    From the July issue: Kathy Korte sits at the top of the Sotheby’s International Realty food chain, overseeing 42 offices and more than 1,800 brokers and agents globally. TRD’s latest residential firm ranking found that the firm’s two NYC offices had $1.4 billion of listing, 231 brokers and an average listings price of roughly $8.8 million. Korte, 53, joined Sotheby’s in 1984 as an administrative assistant, fresh out of Franklin & Marshall College in Pennsylvania. [more]

  • Compass to open first Brooklyn office — in Park Slope

    Williamsburg outpost also planned for startup brokerage
    July 06, 2015 04:30PM By E.B. Solomont

    From left: Patrick Brennan, 514 Second Street and mTkalla Keaton and Adam Sikorski

    Compass is planting a flag in Brooklyn, following several months of heavy agent recruitment. The startup brokerage inked a deal Monday to lease space at 514 Second Street in Park Slope, the firm said. [more]

  • Harlem’s Studio Museum to get new $122M space

    Building to be demolished to make way for 70K sf facility
    July 06, 2015 04:10PM
    Rendering of the planned Studio Museum at 144 West 125th Street in Harlem (credit: Adjaye Associates)

    Rendering of the planned Studio Museum at 144 West 125th Street in Harlem (credit: Adjaye Associates)

    The Studio Museum in Harlem is planning to replace its 1914 facility with a new, $122 million building, to begin construction in 2017. [more]

  • Sign up for TRD’s new real estate database

    Get listed in front of 2.1 million monthly visitors
    July 06, 2015 03:50PM

    Real Estate Pro Directory

    The Real Deal’s newly launched real estate professional database will make navigating the New York City market a breeze.

    The new directory is a searchable database featuring the city’s brokers, appraisers, mortgage bankers and other real estate professionals. It is powered by commercial mortgage brokerage Eastern Union Funding.

    Want your name on the list? Click here to submit your information and get found by 2.1 million monthly visitors.

  • Brunner buys Nolita rental buildings from Marolda for $31M

    Spring Street properties hold 33 apartments, three commercial spaces
    July 06, 2015 03:30PM By Rey Mashayekhi
    55 and 57 Spring Street in Nolita (credit: Google Maps)

    55 and 57 Spring Street in Nolita (credit: Google Maps)

    Brooklyn developer Joseph Brunner’s most recent deal took him to Manhattan, where he purchased two Nolita rental buildings for $31 million, according to property records filed with the city Monday.

    Brunner closed on 55 Spring Street and 57 Spring Street last month, acquiring the buildings from Marolda Properties for $15.5 million each. The five-story buildings, located between Lafayette and Mulberry streets, house a combined 33 residential units. [more]

  • Developers of 111 Murray secure $445M loan

    Work on 58-story Tribeca condo tower expected to begin this month
    July 06, 2015 03:05PM
    Rendering of 111 Murray Street (credit: KPF) (inset: Howard Lorber, Steven Witkoff and Winston Fisher)

    Rendering of 111 Murray Street (credit: KPF) (inset: Howard Lorber, Steven Witkoff and Winston Fisher)

    Fisher Brothers, Witkoff and Howard Lorber’s New Valley closed a $445 million construction loan to help fund their 111 Murray Street condo development in Tribeca. [more]

  • Chaim Miller closes on $138M purchase of Beekman Tower

    Silverstein sells after series of litigation and delays
    July 06, 2015 02:40PM By Claire Moses
    From left: The Beekman Tower at 3 Mitchell Place and Larry Silverstein and Marty Burger

    From left: The Beekman Tower at 3 Mitchell Place and Larry Silverstein and Marty Burger

    The $138 million sale of the Beekman Tower — a vacant, 170-unit Art Deco tower in Midtown East — has officially closed. [more]