The Real Deal New York

425 Park Avenue and a rendering of the new build

From the June issue: The significance of what will soon occur at 425 Park Avenue is twofold: what is going up, and what is coming down. So far, attention has focused exclusively upon the former, a 41-story, 650,000-square-foot office tower designed by Norman Foster and his London firm, Foster & Partners.

Foster’s design was selected with considerable fanfare in October. The building’s developers, Lehman Brothers Holdings and L&L Holding Co., invited 11 internationally acclaimed firms to submit designs. Four were chosen as finalists: Foster, Zaha Hadid, Rem Koolhaas and Richard Rogers. [more]

A view of the Meatpacking District

A 12-story glass office building is slated to rise in the Meatpacking District, the New York Post reported.

The 172,000-square-foot tower will be built at 61 Ninth Avenue, on the southwest corner of West 15th Street. The space is currently occupied by Prince Lumber Co., which will relocate its business to West 47th Street and develop the new tower themselves. [more]

Stuart Saft

Veteran real estate lawyer Stuart Saft has been tapped to chair the New York real estate practice at Holland & Knight, only 13 months after joining the firm, Law360 reported.

While at Holland & Knight, Saft — who was formerly at Dewey & LeBoeuf and has been involved in many of the city’s largest deals over the past two decades – worked on Starwood Capital Group’s Baccarat Hotel deal as well as a 34-story hotel that Starwood is developing in conjunction with the Moinian Group. He has also been advising Ziel Feldman’s HFZ Capital Group on its Halcyon project in Turtle Bay. [more]

Sotheby’s New York headquarters at 1334 York Avenue

Sotheby’s, the renowned auction house, has put its Upper East Side headquarters up for sale, the New York Post reported. [more]

From left: Eyal Ofer of Global Holdings, Bill Rudin and Dan Kaplan of FXFowle

Developers the Rudin family and Eyal Ofer provided The Real Deal with new details (and renderings!) of their controversial overhaul of St. Vincent’s hospital in the West Village, and they were worth the wait. The 200 condominiums in 10 buildings designed by FXFowle will be called The Greenwich Lane, in homage to the quaint hood’s quaint past, representatives for the project said. [more]

Aerial shot of the Brooklyn Navy Yard

Appeals court rules in favor of Upper East Side marine transfer station. Some middle-class NYC housing targeted at those earning almost $200,000 per year. Steiner must hand over Brooklyn Navy Yard documents, judge says. Governors Island’s seawall rehabilatition project kicks off. Councilmen grapple with Park Slope community board over Fourth Avenue overhaul proposal. Read these stories and more after the jump.

Top stories yesterday on The Real Deal:
1. Bistricer, Rieder sell UWS building in midst of condo conversion 
2. Silverstone inks $18M deal for Gramercy rental
3. Elliman bigwigs hobnob at Witkoff’s 10 Madison Square West preview: PHOTOS 

The Empire State Building and Rubin Schron

UPDATED, 6:00 a.m., June 19: Rubin Schron, president of Cammeby’s International and one of the city’s major property owners, has offered $2 billion in cash to buy the Empire State Building, according to a letter an attorney for the investor sent Tuesday to an attorney for Malkin Holdings, the firm that controls the iconic skyscraper. [more]

Stuyvesant Town

Some 2,000 tenants of Stuyvesant Town-Peter Cooper Village will be spared mid-lease rent hikes as part of an agreement between the owners of the 11,000-unit rental complex and New York Attorney General Eric Schneiderman, his office announced today.

CWCapital Asset Management, the special servicer that controls the complex, notified tenants of the rent increases in May. [more]

77 Warren Street and Andre Kikoski

Updated, 9:04 a.m., June 19: The Colonnade Group, a New York-based developer, is doing another condominium conversion in Tribeca, this time at a five-story building at 77 Warren Street, according to a description of the project on BuzzBuzzHome. [more]