The Real Deal New York

  • Kevin Maloney

    Kevin Maloney (photo by STUDIO SCRIVO)

    From the April issue: Kevin Maloney is the founder and principal of Property Markets Group, a New York City-based real estate acquisition and development firm. The company’s projects include Walker Tower, a condo conversion it developed with JDS Development at 212 West 18th Street. The penthouse of the building recently sold for $50.9 million, a record for downtown Manhattan. Now the two firms are building a 1,350-foot-tall hotel-and-condo at 111 West 57th Street, which is slated to be the tallest residential tower in the city. Among PMG’s other projects, it’s working on a 44-story mixed-use building with 391 residential units in Long Island City. [more]

  • 3 World Trade Center’s fate sparks clash at Port Authority

    Commissioners point to sluggish leasing at other towers as big concern
    April 21, 2014 10:15AM

    From left: Scott Rechler, Kenneth Lipper and 3 World Trade Center

    The Port Authority of New York & New Jersey is set to vote Wednesday on providing a $1.2 billion loan for Silverstein Properties’ development of 3 World Trade Center.

    Kenneth Lipper, one of the commissioners, has been leading the opposition to the subsidies, and could spur several “no” votes, which is relatively uncommon at the agency. Some industry players say the proposed 80-story tower should be put on hold until Silverstein can finance it privately. [more]

  • J&R finds partner to redevelop sites next to closed store

    L+M to work on Park Row buildings that electronics seller uses for storage
    April 21, 2014 09:45AM By Mark Maurer

    From left: 23 and 31 Park Row, Rachelle and Joe Friedman, and 1-15 Park Row rendering

    L+M Development Partners is pairing up with the owners of J&R Music and Computer World to redevelop the retail properties on the same block as the iconic but now-closed electronics store, The Real Deal has learned. [more]

  • flushing-town-hall

    Flushing Town Hall at 137-35 Northern Boulevard in Queens

    The origins of Queens’ many neighborhood names. Brooklyn brokerage Realty Collective opening a Clinton Hill office. Inside Warren Buffett-supported Berkshire Hathaway HomeServices. Read these stories and more after the jump.

  • Inside TheRealDeal
  • Shigeru Ban’s Cast Iron House debuts after Pritzker win

    Architect's style on full display at 67 Franklin Street property
    April 21, 2014 09:00AM By Katherine Clarke
    A rendering of 67 Franklin Street

    A rendering of 67 Franklin Street

    A long-anticipated Tribeca condominium project, with interiors designed by Shigeru Ban, is launching sales one month after the acclaimed Japanese architect was awarded the prestigious Pritzker Prize. [more]

  • Senior Cuomo aide mulls move to real estate

    Howard Glaser expected to exit government after legislative session in June
    April 21, 2014 08:30AM

    Howard Glaser and St. Nicholas church pre-9/11

    Howard Glaser, director of state operations and senior policy adviser to Governor Andrew Cuomo, has decided to resign — and is considering a senior-level job in real estate.

    The high-ranking governor’s aid said he will exit after the legislative session concludes at the end of June, sources told Crain’s. Glaser spearheaded the deal to redevelop the St. Nicholas Greek Orthodox Church, which was destroyed on 9/11. Before the start of Cuomo’s term in 2011, Glaser served as general counsel for the U.S. Mortgage Bankers Association and as counselor to the secretary at the U.S. Department of Housing and Urban Development. [more]

  • Airbnb to appear in New York State Supreme Court Tuesday

    Short-term rental provider to formally fight AG's subpoena for user data
    April 21, 2014 08:00AM
    From left: Eric Schneiderman and Airbnb founders Nathan Blecharczyk, Joe Gebbia and Brian Chesky

    From left: Attorney General Eric Schneiderman and Airbnb’s Nathan Blecharczyk, Joe Gebbia and Brian Chesky

    Short-term rental site Airbnb is gearing up for a Tuesday court appearance in Albany, at which point the startup will contest the state attorney general’s subpoena for users’ personal data. [more]

  • Top stories

    April 21, 2014 07:30AM

    Most popular articles on The Real Deal:
    1. Investor snags one of NYC’s top trophy towers for $900M
    2. Judge reinstates order banning Africa Israel from condo sales
    3. Compstak forced to reveal names of users who allegedly misused CoStar data
    4. SL Green looks to sell mixed-used Third Avenue site
    5. Episode 3 “Million Dollar Listing NY”: 3 flew over the cuckoo’s nest

  • Forest Hills residents cry fowl over chickens

    Queens woman to fight for $2,500 personal coop
    April 20, 2014 05:00PM
    Local Queens troublemakers

    Queens-based troublemakers

    WEEKENDEDITION A fight over chicken coop ownership rules has recently broken out in Queens.

    Forest Hills resident Sylvia Saye made a $2,500 home for a dozen chickens in her backyard in order to feed her daughter free-range, hormone free eggs. According to Saye, her neighbors are now telling her that they want the chickens to go. [more]

  • Mayoral aides present different air rights proposals

    Mayor de Blasio scheduled to unveil cohesive housing policy on May 1
    April 20, 2014 04:00PM
    From left, Mayor Bill de Blasio, Vicki Been, Carl Weisbrod

    From left, Mayor Bill de Blasio, Vicki Been, Carl Weisbrod

    WEEKENDEDITION Two of Mayor Bill de Blasio’s aides have unveiled markedly different proposals for harnessing unused development capacity of landmarked buildings at a meeting at City Hall recently. [more]

  • Suspect nabbed in $34M Hamptons arson case

    Former real estate agent accused of torching Bridgehampton mansion
    April 20, 2014 03:00PM

    From left: Arson suspect David Osiecki, fire at 187 Dune Road in Bridgehampton, and Ziel Feldman

    WEEKENDEDITION A Sagaponack man was arrested in connection to a Hamptons house fire that erupted on Saturday morning. [more]

  • Contract negotiations now favoring unions

    Doormen, transit workers getting better deals than historically received
    April 20, 2014 02:00PM
    Governor Andrew Cuomo

    Governor Andrew Cuomo

    WEEKENDEDITION The recent doormen pact and transit workers deal could signal better payouts for union workers.

    Discussions regarding raises for the city’s municipal unions have not fared well from the perspective of union workers, due in part to the city’s inability to pay what the unions want, the precedent set by the three-year pay freeze the governor imposed on state workers, and that private sector raises have been slight during that time. [more]

  • Landlord bans Brooklyn club from ‘turning’ gay

    Owner of Greenpoint bar continues to fight controversial lease
    April 20, 2014 01:00PM
    Lulu’s on 113 Franklin Street in Brooklyn

    Lulu’s on 113 Franklin Street in Brooklyn

    WEEKENDEDITION The landlord of a Grenpoint, Brooklyn club refuses to allow its owner to turn it into a gay bar. [more]

  • Nonprofits facing challenges in real estate market

    Organizations facing stiff competition from tech firms
    April 20, 2014 12:00PM
    154 East 23rd Street

    154 East 23rd Street

    WEEKENDEDITION With technology firms eating up space in older loft-like buildings at a rapid rate, rents in formerly affordable office spaces have been going up, making it difficult for nonprofits and arts organizations to find affordable deals.

    In the first quarter of 2014, Manhattan commercial rents rose 7 percent from the corresponding period five years ago, according to Cushman & Wakefield. Meanwhile, rents in Midtown South rose up 29 percent within the same period. [more]

  • Million dollar homes harder to come by

    The number of Manhattan apartments for sale below $1 million are shrinking
    April 20, 2014 11:00AM
    3 Gramercy Park West

    3 Gramercy Park West

    WEEKENDEDITION Because of rising prices and a dearth of listings, New York City homebuyers looking for an apartment in the million-dollar price range are becoming forced to make considerable concessions. [more]

  • Italy to auction off “haunted” island

    The cash-poor nation is looking to lease the 17-acre island near Venice
    April 20, 2014 10:00AM
    Poveglia, a supposedly haunted island in Italy

    Poveglia, a supposedly haunted island in Italy

    WEEKENDEDITION Italy is about to auction off a state-owned island that many believe is haunted. [more]

  • Three leases signed at 250 West 55th Street

    Firms to occupy a total of 23,265 SF at the office tower’s 16th floor
    April 20, 2014 09:00AM
    250 West 55th Street

    250 West 55th Street

    WEEKENDEDITION Three firms have made deals to occupy a total of 23,265 square feet at the recently-built 250 West 55th Street.

    Veracen Partners, RTW Investments & LifeSci Capital and Coltrane Asset Management have each signed leases for 11,263 square feet, 7,196 square feet and 4,806 square feet, respectively, at the nearly one million square-foot office property at Eighth Avenue. All three companies will occupy a portion of the 16th floor of the 38-story office tower. [more]

  • Shirley MacLaine lists New Mexico ranch for $18M

    7,450-acre property features 9,000 SF house, caretaker's cottage and horse barn
    April 19, 2014 04:00PM
    From left, Shirley MacLaine, her Plaza Blanca Ranch in Abiquiu, NM

    From left, Shirley MacLaine, her Plaza Blanca Ranch in Abiquiu, NM

    WEEKENDEDITION Actress Shirley MacLaine has put her 7,450-acre New Mexico ranch on the market for $18 million. [more]

  • Astoria complex to receive $4M in new lights

    NYCHA to install the upgraded system within six months to mitigate safety concerns
    April 19, 2014 03:00PM
    From left, Councilman Jimmy Van Bramer, Ravenswood Houses

    From left, Councilman Jimmy Van Bramer, Ravenswood Houses

    WEEKENDEDITION Amid safety concerns, the Ravenswood Houses in Astoria will receive a new lighting system, updating a decades-old dilapidated system.

    Residents at the New York City Housing Authority complex say the old bulbs had grown so dim that they no longer felt safe coming home at night to the 2,167-unit complex, which houses roughly 4,500 residents. [more]

  • Greenwich Village townhouse sells for $8.1M

    Residence at 23 Downing Street has 900 SF of exterior space
    April 19, 2014 02:00PM
    23 Downing Street

    23 Downing Street

    WEEKENDEDITION A restored single-family townhouse in Greenwich Village sold for $8.1 million this week. [more]