The Real Deal New York

  • City Council gives final OK to Astoria Cove project

    Alma Realty agrees to full union labor and 27% affordable component
    November 25, 2014 06:03PM
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    Melissa Mark-Viverito and a rendering of Astoria Cove (Credit: Studio V Architects)

    Alma Realty’s massive Astoria Cove project in Queens has passed the muster of the New York City Council. [more]

  • erp-entry-plaza

    Rendering of plaza at East 118th Street in Harlem (Credit: Ten Architectos)

    Community board vote on Crown Heights rezoning incorrectly recorded. Blumenfeld Development and Forest City Ratner push megaproject again for East Harlem residents. Celebrity chef Eric Ripert grabs Chelsea Green condo. Read these stories and more after the jump.

  • Ex-Goldman exec asking $43M for Bridgehampton estate

    Jonathan Sobel bought 5-acre compound for $13M in 2011
    November 25, 2014 05:00PM
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    207 Highland Terrace in Bridgehampton (inset: Susan Breitenbach and Jonathan Sobel)

    Jonathan Sobel, an investor and former partner at Goldman Sachs, has put his five-acre Bridgehampton compound on the market for $43 million — making it one of the priciest Hamptons listings. [more]

  • New peek at Midtown Equities’ 300K sf LES resi project

    Studio V Architecture is designing the building at 155 Attorney Street
    November 25, 2014 04:25PM By Claire Moses
    Rooftop at 155 Attorney Street (Credit: Studio V Architecture)

    Rendering of the rooftop at 155 Attorney Street (Credit: Studio V Architecture)

    Some fresh renderings — courtesy of Studio V Architecture — are available for a new residential project at 155 Attorney Street. [more]

  • Inside TheRealDeal
  • Brokerage moving into Jane Jacobs’ former Village pad

    The Next Step Realty leasing space at property that was home to influential urban activist
    November 25, 2014 03:50PM By Rich Bockmann
    From left: Blair Brandt, 555 Hudson Street and Jane Jacobs

    From left: Blair Brandt, 555 Hudson Street and Jane Jacobs

    Check out New York City, just the way Jane Jacobs did.

    A startup brokerage that targets recent college grads is opening an office in the West Village home where the famed urban activist formed her influential ideas on big-city living. [more]

  • Gowanus residents warn: Rezoning will lead to luxe high-rises

    Opponents of plan decry potential loss of open sky in neighborhood
    November 25, 2014 03:25PM
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    Gowanus Canal and Brad Lander

    Gowanus residents made a last-ditch effort at a public meeting last night to derail neighborhood rezoning that allows for luxury high-rise buildings.

    The meeting at P.S. 36 in Carroll Gardens was the final public hearing on “Bridging Gowanus,” a proposal to require major infrastructure investments before shiny new residential towers could rise. Representatives from Pratt Institute said many residents say they would be okay with some taller properties if the rezoning meets other goals. [more]

  • Rockefeller University lands $150M for expansion

    David Rockefeller, Stavros Niarchos Foundation donate $75M each to $425M project
    November 25, 2014 02:54PM
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    Rendering of Rockefeller University campus and David Rockefeller

    David Rockefeller, retired chair of Chase Manhattan Bank, and philanthropy nonprofit the Stavros Niarchos Foundation donated a total of $150 million for the planned two-acre extension of Rockefeller University. [more]

  • Waste-transfer station opponents unleash attack ad: VIDEO

    Spot accuses de Blasio of ignoring impact on low-income, minority residents nearby
    November 25, 2014 02:20PM
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    Rendering of Upper East Side waste-transfer site (Credit: Michael Singer Studio and Thomas O’Connor)

    Upper East Side residents who oppose the controversial waste-transfer station planned for East 91st Street released an attack ad yesterday. In it, area locals accuse Mayor Bill de Blasio of ignoring the project’s impact on low-income and minority communities in the area. [more]

  • Ex-Corcoran broker gets jail time for townhouse burglary

    Judge sentences David Kim to up to nine years for stealing $500K worth of luxury items
    November 25, 2014 01:44PM
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    141 West 81st Street on Upper West Side, and David Kim

    A judge ordered David Kim, a former broker at the Corcoran Group, to serve up to nine years in prison for burglarizing a five-story Upper West Side townhouse that he helped sell.

    Art dealer Tina Kim and her husband, Jae Chung, bought the home at 141 West 81st Street, between Columbus and Amsterdam avenues, for $7.6 million in 2012. The following year, Kim, who served as a broker on that deal, entered the home and stole about $500,000 in luxury items such as a Gucci wallet, Louis Vuitton accessories and a Hermès passport holder.  [more]

  • Lexin Capital to put up 800-foot tower on Nassau Street lots

    Three parcels could hold up to 200,000 buildable square feet
    November 25, 2014 01:11PM
    From left: 75 Nassau Street and Metin Negrin

    From left: 75 Nassau Street and Metin Negrin

    Lexin Capital is planning to build an 800-foot-tall tower at 75-83 Nassau Street in the Financial District. [more]

  • Best Western in Times Square cut a break on $78M mortgage

    Lender lowers interest rate on loan to Hampshire Hotels & Resorts; $7.5M payment "remitted"
    November 25, 2014 12:35PM
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    234 West 48th Street in Midtown

    Hampshire Hotels & Resorts has been granted a modification of its $77.6 million mortgage on the 334-room Best Western President hotel in Times Square, allowing for rate relief and one-year extension options.

    The 16-story hotel at 234 West 48th Street is one of many struggling to raise prices for rooms while maintaining high occupancy rates. The lender approved Hampshire’s request from June to change the loan arrangement – as well as the hotel’s change of brand to Tryp by Wyndham. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    November 25, 2014 12:05PM

    1. Saks Fifth Avenue building gets $3.7B valuation
    2. Coldwell Banker Bellmarc vet bringing 4k listings to Town
    3. David Werner is the city’s top buyer of real estate in 2014

    Like The Real Deal on Facebook for breaking industry stories, links to quirkier pieces and lively conversation about important properties in New York and around the world. [TRD's Facebook Page]

  • Andre Balazs’ $400M bid for Standard High Line stalled

    Asian investor backed out and buyers lost down payment
    November 25, 2014 11:33AM
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    848 Washington Street in Meatpacking District, and Andre Balazs

    Hotelier Andre Balazs’ plan to acquire the Standard High Line from Dune Real Estate Partners and Greenfield Partners for $400 million has hit a hitch. After the investor group led by Balazs entered contract in February, an Asian partner in the group backed out. The buyers then lost their down payment after failing to close the deal. Balazs’ group is in the process of finding a new partner. [more]

  • Vornado plunks down $142M for LIC office building

    Eight-story property almost completely leased
    November 25, 2014 11:04AM
    The Center Building in Long Island City, Queens

    The Center Building in Long Island City, Queens

    Vornado Realty Trust is buying the Center Building, a 437,000-square-foot office building in Long Island City, for $142 million. [more]

  • 555 Park Avenue

    555 Park Avenue

    A $2.4 million discount on a swanky Upper East Side co-op. New York among final options for 2016 Democratic National Convention. Bronx church faces eviction. Read these stories and more after the jump.

  • Treetop buys $27.5M Harlem portfolio from Heritage Real Estate

    Heritage turns tidy $15M profit on four-building package within a year
    November 25, 2014 10:00AM By Claire Moses
    From left: Steven Vegh, 519 West 43rd Street and Azi Mandel

    From left: Steven Vegh, 519 West 43rd Street and Azi Mandel

    Treetop Development purchased a three-building package from Heritage Real Estate Partners for $27.5 million, The Real Deal has learned. The deal, coupled with one in September, means that Heritage has made a $15 million profit on a portfolio it bought just a year ago. [more]

  • Astoria Cove developer allegedly bribed Greek bank in 1990

    $5.7M loan went toward the purchase of two cargo ships
    November 25, 2014 09:30AM
    From left: Steve Valiotis and a rendering of Astoria Cove (Credit: Studio V Architecture)

    From left: Steve Valiotis and a rendering of Astoria Cove (Credit: Studio V Architecture)

    A 1995 court decision reveals that Steve Valiotis, a principal of Astoria Cove developer Alma Realty, allegedly bribed representatives of a Greek bank to get a $5.7 million loan in 1990. [more]

  • Cannes bust-up: JLL reviewing top retail broker Robert Gibson after brawl

    Gibson insulted female retail exec, who attacked him with a glass: sources
    November 25, 2014 09:00AM By Adam Pincus and Rich Bockmann
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    From left: Robert Gibson, Chealsy Choquette and Le Vesuvio, Cannes

    Robert Gibson, a JLL vice-chairman who runs the brokerage’s Manhattan retail division, allegedly had to be restrained by restaurant employees following a tussle with a female guest as a Thor Equities party in Cannes was winding down last week, several attendees told The Real Deal. [more]

  • Is Urban Compass really the future?

    TRD takes a critical look at startup’s tech, sales and business model
    November 25, 2014 08:30AM By E.B. Solomont
    From left: Ori Allon, Leonard Steinberg, Kyle Blackmon and Robert Reffkin

    From left: Ori Allon, Leonard Steinberg, Kyle Blackmon and Robert Reffkin

    Brown Harris Stevens’ Twitter handle reads, simply, “@Established1873.” The brokerage trades upon its distinguished lineage and generally manages to keep its white-gloved hands out of industry drama. But when real estate startup Urban Compass poached elite broker Kyle Blackmon last week, BHS president Hall Willkie decided it was time for those gloves to come off.

    “Kyle has made the decision that the equity proposition offered to him trumps a singular focus on brokerage,” Willkie said in a statement to The Real Deal. He questioned the wisdom of that decision in an internal BHS memo that stated: “The value of Kyle’s or anyone’s equity will be dependent on the success of Urban Compass’ founders implementing their vision of selling their company for substantially more than many industry experts believe is possible.”

    Willkie’s statement echoed what many in the industry have whispered – or shouted under the cloak of anonymity – for months. Urban Compass, these sources say, is merely an idea – albeit a well-choreographed, Ivy League and McKinsey-branded one. But even with a $360 million valuation, they ask, is it really the future? [more]

  • Charatan’s BCB Property buys UWS portfolio for $81M

    Morningside Heights buildings change hands for first time in 30 years
    November 25, 2014 08:00AM By Mark Maurer
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    111 West 104th Street, Marco Lala and Debrah Lee Charatan (credit: Flickr)

    BCB Property Management, the development firm led by Robert Durst’s estranged wife Debrah Lee Charatan and her son Bennat Charatan Berger, acquired a six-building Upper West Side portfolio near Columbia University for $80.75 million, The Real Deal has learned. [more]

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