The Real Deal New York

  • Leaked images reveal Virgin Hotel designs

    Lam Group project set to go up in NoMad will encompass 440,000 square feet
    August 22, 2014 01:20PM
    From left: Two leaked rendering of Virgin Hotel at 1205 Broadway and Richard Branson

    From left: Two leaked rendering of the Virgin Hotel at 1205 Broadway and Virgin Group founder Richard Branson

    Images for the Virgin Hotel set to rise at 1205-1225 Broadway in NoMad have been leaked. [more]

  • Rockrose’s jumbo rental building in Court Square fully leased

    709-unit structure in Long Island City seen bolstering other projects in area
    August 22, 2014 12:55PM By Claire Moses
    LINC LIC in Court Square

    LINC LIC in Court Square

    Rockrose Development’s LINC LIC — the 709-unit, 42-story rental in Long Island City — is fully leased. [more]

  • Zaha Hadid sues NY Review of Books, critic for defamation

    Attorney says article about Hadid's Al Wakrah stadium project is a "personal attack"
    August 22, 2014 12:30PM
    From left: Zaha Hadid, Al Wakrah stadium rendering and Martin Filler

    From left: Zaha Hadid, rendering of Al Wakrah stadium in Qatar and critic Martin Filler

    Pritzker Prize-winning architect Zaha Hadid is suing critic Martin Filler and the New York Review of Books over what she calls defamatory statements in a series of articles. [more]

  • More Woolworth Building condo floor plans: PHOTOS

    A look at the cheapest and priciest non-penthouse pads at the landmark building
    August 22, 2014 12:00PM By Hiten Samtani
    The Woolworth Building at 233 Broadway and some of the floor plans for the Woolworth Tower Residences

    The Woolworth Building at 233 Broadway and some of the floor plans for the Woolworth Tower Residences

    The Real Deal revealed the floor plans for the record-setting $110 million “Pinnacle” penthouse at Alchemy Properties’ Woolworth Tower Residences yesterday. Now, here’s a look at some of the other units at the condo conversion project, from the cheapest $3.9 million pad to the priciest non-penthouse unit, after the jump.

  • Inside TheRealDeal
  • Aby Rosen’s RFR in contract to buy shares of UES co-op

    Deal for 1025 Park Avenue’s shares would be latest in recent slew of moves by firm
    August 22, 2014 11:40AM By David Jones
    Aby Rosen and 1025 Park Avenue

    Aby Rosen and 1025 Park Avenue

    Aby Rosen’s RFR Realty is in contract to acquire all of the shares at the Upper East Side’s Dekoven House at 1025 Park Avenue, The Real Deal has learned.

    Mary Joan Wilder, head officer at the 10-unit co-op, went into contract to sell the shares on July 29, according to documents filed Aug. 14 with the city Department of Finance. Terms of the agreement were not disclosed. [more]

  • Gin Lane property on the market for first time in 50 years

    Southampton power broker Tim Davis marketing $50M parcel; manor next door sold for $80M
    August 22, 2014 11:00AM
    From left: Tim Davis and Gin Lane, Southampton

    From left: Tim Davis and Gin Lane, Southampton

    A beachfront property on Southampton’s Gin Lane will hit the market for the first time in more than 50 years with an asking price of $50 million.

    The 4-acre parcel is next door to Wooldon Manor, which Scott A. Bommer, founder of hedge fund SAB Capital, bought for $75 million and then almost immediately sold for more than $80 million, the Wall Street Journal reported. Tim Davis of Corcoran Group, who handled the sale for Bommer, will also represent the owner of the property, William G. McKnight, according to the newspaper. [more]

  • The Closing with Chris Schlank

    The Savanna head talks about gas guzzlers, catching marlin and not Tweeting — despite owning Twitter’s headquarters
    August 22, 2014 10:30AM By Katherine Clarke
    Chris Schlank (Credit: Max Dworkin)

    Chris Schlank (Credit: Max Dworkin)

    From the August issue: Schlank is the founder and co-managing partner of Savanna, a real estate private equity firm that’s invested $2.3 billion in real estate assets since 2006. Schlank has personally overseen the acquisition and redevelopment of more than 65 real estate assets, comprising over 19 million square feet of space, the vast majority of which has been in New York City. [more]

  • Acadia closes $50M deal for Soho retail co-op

    Sale of 131-135 Prince Street was done through a tax-free exchange
    August 22, 2014 10:00AM
    From left: 131-135 Prince Street and Louis Meisel in 1990

    From left: 131-135 Prince Street and Louis Meisel in 1990

    Acadia Realty Trust officially closed on two retail co-op units at 131-135 Prince Street for $50 million. [more]

  • The Coney Island Boardwalk

    The Coney Island Boardwalk

    What Coney Island can learn from Atlantic City’s mistakes. What makes a great doorman. Apartment with surreal art collection hits the market. Read these stories and more after the jump.

  • Tenants at Mitchell-Lama site in Brooklyn go after co-op board

    Residents at 54 Boerum Street look to change election process in battle with cooperative
    August 22, 2014 09:00AM
    54 Boerum Street

    54 Boerum Street

    Residents of one of the city’s largest middle-income housing cooperatives are petitioning against their co-op board.

    The residents of the Lindsay Park Housing Cooperative at 54 Boerum Street in Brooklyn — together with Community Board 1 Chairwoman Dealice Fuller — maintain that the board has used an unfair and confusing election process. The petition is meant to change that, residents say. [more]

  • 6 projects that are changing the face of Greenpoint

    No longer in the shadow of Williamsburg, the Brooklyn nabe is seeing a rush of developments
    August 22, 2014 08:30AM By Claire Moses
    Rendering of 77 Commercial Street

    Rendering of 77 Commercial Street

    A lack of service on the G train this summer has not slowed down development in the Greenpoint area. In August alone, two major developments — 145 and 161 West Street— were resuscitated after being stalled. Here then, are six notable projects on the Greenpoint waterfront.

  • Brooklyn’s fast-growing retail strips flirt with records

    Rents approach or exceed $200 per square foot in some areas
    August 22, 2014 08:06AM By Tom DiChristopher

    Rent along some of Brooklyn’s most attractive retail strips is testing old boundaries and, in some cases, hitting new records per square foot. [more]

  • Most popular stories on The Real Deal

    August 22, 2014 07:20AM

    Current reader favorites:
    1. Revealed: Floor plans for $110M Woolworth penthouse: PHOTOS
    2. Real estate tech firm Hightower raises $6.5M in funding round
    3. Manhattan office towers keep getting pricier — but incomes lag behind
    4. The Wrap: World’s most expensive penthouse is $318M, New Yorkers can now control two skyscrapers’ lighting with a mobile app … and more
    5. Lauren Bacall’s Dakota home to hit the market

  • Great Neck firm set to spend $43M on summer retail splurge

    Klosed Properties bets on rising rents in hot nabes near South Street Seaport and Times Square
    August 21, 2014 06:20PM By Rich Bockmann
    From left" 202 Spring Street and 46-50 Fulton Street

    From left: 202 Spring Street and 46-50 Fulton Street

    A small retail-acquisition firm out of Great Neck, L.I.’s Persian real estate community had an active summer and is on track to spend $43 million on a handful of properties that it’s betting will command top dollar by the time their leases expire. [more]

  • Sam Chang buys Midtown mental health facility for $51M

    Developer to either build hotel or rentals after property becomes vacant
    August 21, 2014 06:05PM
    mental-health

    334 West 36th Street (Inset: Sam Chang)

    Hotel developer Sam Chang of Great Neck, N.Y.-based McSam Hotel Group has added yet another Midtown West property to his portfolio with the purchase of the six-story Postgraduate Center for Mental Health for $50.8 million. [more]

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    August 21, 2014 05:50PM

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  • Inside the $8M townhouse at 5-46 51st Avenue in Long Island City

    Inside the $8M townhouse at 5-46 51st Avenue in Long Island City

    “Off-the-papers” buys crank out big profits. LIC townhouse hits the market for $8M. “Million Dollar Listing New York” star Luis Ortiz rumored to have made Abington House buy. Read these stories and more after the jump.

  • No rush when it comes to FICO’s new credit score: Harney

    Most homebuyers unlikely to see any direct benefit from Score 9 for years
    August 21, 2014 05:05PM By Kenneth Harney
    brown-greene

    NAR’s Steve Brown and Fair Isaac’s Mark Greene

    You may have noticed the big media splash recently when Fair Isaac, developer of the iconic FICO credit score, announced the debut of a new score version that no longer would penalize consumers who have medical debt-collection issues in their credit files.

    The announcement hit the front pages of publications such as the Wall Street Journal and was highlighted on national TV network news. Steve Brown, president of the National Association of Realtors, was so enthusiastic about the new score’s potential that he predicted it would “make a real difference in the lives of millions of Americans who have been shut out of the housing market or forced to pay higher mortgage interest rates because of flawed credit scores.” [more]

  • This month in real estate history

    1942: Bank forecloses on legendary Collyer home
    August 21, 2014 04:40PM By Adam Pincus
    The Collyer Brothers' home

    The Collyer Brothers’ home

    From the August issue: The Bowery Savings Bank filed to foreclose on the Harlem brownstone where the reclusive brothers Homer and Langley Collyer lived 72 years ago this month. The move to take the house came five years before they died inside it, victims of the home’s 100 tons of refuse and clutter. [more]

  • Witkoff, Lightstone Group latest to eye Israeli capital markets

    New York developers reportedly mulling $141M bond offerings
    August 21, 2014 04:15PM
    From left: Steven Witkoff and David Lichtenstein

    From left: Steven Witkoff and David Lichtenstein

    The Witkoff Group’s Steven Witkoff and David Lichtenstein of the Lightstone Group are gearing up to follow Extell’s Gary Barnett by tapping the Israeli capital markets for debt.

    Both developers are reportedly mulling bond offerings expected to generate 500 million shekels, or $141.6 million, each. Should Lichtenstein’s plans move forward, it would mark the eighth such offering by an American property developer on the Israeli market in recent months, according to Haaretz. [more]

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