The Real Deal New York

  • Ad guru David Deutsch’s Turtle Bay home sells for $13.5M

    Private equity firm Carlyle buys townhouse on East 49th Street; asking was $16.5M
    April 24, 2014 12:15PM By Hiten Samtani
    From left: David Deutsch and interior shots of the townhouse at 226 East 49th Street

    From left: David Deutsch and interior shots of the townhouse at 226 East 49th Street

    The estate of advertising guru-turned-painter David Deutsch sold his townhouse in the historic Turtle Bay Gardens neighborhood to the Carlyle Group for $13.5 million, property records filed today with the city show. [more]

  • Balloon over the city captures the view from future towers

    Images intended to help developers and architects with pricing, design
    April 24, 2014 11:45AM

    Aerial photograph from white balloon (Credit: (Inset: Curt Westergard)

    Virginia-based Digital Design and Imaging Services sent a large balloon into the sky over Manhattan this week to snap photographs of future skyscrapers’ views for developers and architects. [more]

  • Baruch to commence $100M renovation project at 17 Lex

    Lawrence and Eris Field building to get new facade, elevators
    April 24, 2014 11:25AM
    The at 17 Lexington Avenue

    The Lawrence and Eris Field building at 17 Lexington Avenue

    Baruch College has scored state funding to carry out a $100 million renovation of its oldest building, according to college officials. The college will kick off work next year at the Lawrence and Eris Field building, located at 17 Lexington Avenue, and plans to replace the elevators and swap its brick façade for glass walls.

    Baruch has $98.3 million for the first phase of the project, including about $30 million in state capital funds. “We want to make the facade more open and available to the public and the students,” a Baruch spokesperson told DNAinfo. [more]

  • Mack-Cali sells NJ office complex for $97M

    Wyndham hotels occupied 249,500-square-foot property in Parsippany since 2009 opening
    April 24, 2014 11:00AM

    22 Sylvan Way in Parsippany, N.J. (Inset: Mack-Cali CEO Mitchell Hersh)

    Mack-Cali Realty Corporation, the biggest office landlord in New Jersey, sold a 249,400-square-foot commercial building in Parsippany, N.J., for $96.6 million, according to the firm. [more]

  • Inside TheRealDeal
  • Space invaders heading south

    South Florida office space draws more companies from New York, elsewhere
    April 24, 2014 10:30AM By Mark Maurer
    Miami Tower

    Miami Tower

    From the South Florida Market Report: With asking rents well below those in New York and other northern cities, plus the subtropical climate and diversified workforce, South Florida office buildings continue to draw businesses from all over.

    “New-to-market, high-profile companies are making strong commitments,” said Ken Krasnow, managing director at CBRE in Broward and Palm Beach counties.

    For example, global law firm Jones Day signed a 21,363-square-foot lease in August for a full floor at 600 Brickell, a 40-story tower developed by Foram Group and known in the market as Brickell World Plaza. [more]

  • Warburg hires Elliman vet to head Brooklyn push

    Michael Guerra tapped for scouting, merger talks
    April 24, 2014 10:15AM By Mark Maurer

    From left: Michael Guerra and Fred Peters

    Warburg Realty moved a step closer to breaking into Brooklyn with the hiring of a sales director to select a new location and potentially acquire smaller brokerages in the borough, the residential brokerage told The Real Deal.

    Michael Guerra joined the firm this month from Douglas Elliman, where he served as managing director and executive vice president. The Park Slope native helped developed Elliman’s Brooklyn operation, which grew from one to five offices under his direction. He also was a broker at the Corcoran Group and William B. May. [more]

  • Latest “Million Dollar Listing NY”: Nine Circles of Hell Edition

    In Episode 4, the boys' behavior is a long way from divine -- but it does make for good comedy
    April 24, 2014 09:55AM By Ann Imperatore
    million dollar-2

    From left: Fredrik Eklund, Luis Ortiz and Ryan Serhant

    In the fourth episode of “Million Dollar Listing New York,” the Three Beasts of the Dark Wood — Fredrik Eklund, Ryan Serhant and Luis Ortiz – lead us down a shadowy, winding path from which we may never return. What we once feared most — the bubble bursting [God forbid] — has been replaced by something far worse: Nine figurative floors without an elevator or central air. [more]

  • Jacobs-Moses

    Jane Jacobs and Robert Moses (Credit: Gotham Gazette, 2006)

    Eataly signs lease for base of 4 World Trade Center. Opera to chronicle 1960s clash between planner Robert Moses and activist Jane Jacobs. Sony to launch real estate brokerage in Japan. Read these stories and more after the jump.

  • De Blasio to appoint Rent Guidelines Board chair today

    Rachel Godsil was an assistant U.S. attorney and Seton Hall professor
    April 24, 2014 09:00AM

    Rachel Godsil

    Mayor Bill de Blasio is set to name Rachel Godsil today as the new chair of the Rent Guidelines Board.

    The nine-member mayoral panel controls price increases for rent-stabilized units. Five new members were appointed last month, and the remaining few will be announced later in the year.

    Godsil has served as assistant U.S. attorney.

    She is also a professor at the Seton Hall University School of Law. Godsil is a legal specialist in property and land use, as well as environmental issues. [more]

  • Shareholders not expected to oust Morgans Hotel board

    Kerrisdale Capital head nominated new slate seeking to sell hotel group
    April 24, 2014 08:30AM

    From left: Jason Taubman Kalisman, Sahm Adrangi and Ron Burkle

    Investors in the Morgans Hotel Group are not likely to vote in favor a nominated slate of directors — and supporters of shareholder activist Ron Burkle — due to an alleged lack of experience, the New York Post reported. [more]

  • Skadden Arps eyes new Midtown spaces

    Manhattan West, 3 Hudson Boulevard believed to be law firm's top contenders
    April 24, 2014 08:00AM
    From left: Renderings of 3 Hudson Yards and Manhattan West

    From left: Renderings of 3 Hudson Yards and Manhattan West

    Law firm Skadden Arps is on the hunt for a Midtown space, despite attempts to draw the company downtown.

    Jones Lang LaSalle’s Peter Riguardi and Ken Siegal are leading the search, which is rumored to be focusing on the Hudson Yards area. Two properties, 3 Hudson Boulevard and Manhattan West, are said to be the firm’s top choices, according to the New York Post. In either locale, Skadden would settle in as the anchor tenant with between 550,000 and 600,000 square feet. [more]

  • Top stories

    April 24, 2014 07:30AM

    Most popular articles on The Real Deal:
    1. Which Airbnb users made the Attorney General’s top 5 list?
    2. Greenwich Village condo site trades for $75M
    3. SL Green to pay $145M for stake in 635 Madison
    4. Affordable housing? Rents surge by 75 percent since 2000
    5. Bank of New York Mellon to sell NYC headquarters

  • Hamptons home sales jump from dismal first quarter in 2013

    Southampton leads the rebound; highest prices in Bridgehampton
    April 24, 2014 12:01AM By Julie Strickland
    Aerial view of the Hamptons

    Aerial view of the Hamptons

    Hamptons home sales returned to normal first-quarter levels in the first three months of 2014, rebounding from last year’s post-“fiscal cliff” slump, according to Douglas Elliman’s first-quarter Hamptons Sales Report. [more]

  • What $1M buys in housing markets around the world: VIDEO

    The price gets you a mere 161 square feet in Monaco
    April 23, 2014 08:10PM By Business Insider

    Monaco (Credit: Shutterstock)

    When it comes to luxury real estate, a million dollars goes a lot farther in Dubai than it does in Monaco. [more]

  • Unilever snags two floors atop Tribeca’s 99 Hudson Street

    Agreed-upon rent hits pricey $78 per square foot
    April 23, 2014 06:20PM
    Paul Amrich and 99 Hudson Street

    Paul Amrich and 99 Hudson Street

    Anglo-Dutch multinational consumer goods company Unilver has inked a deal for 30,000 square feet in JCM Holding’s 99 Hudson Street in Tribeca.

    The firm’s spread takes up the 16-story building’s top two floors, Crain’s reported. The space includes an outdoor roof deck, and the asking rent was $78 per square foot — one of the highest rates paid in the area. [more]

  • SL Green beats analysts’ expectations in Q1

    REIT reports $150 million in funds from operations
    April 23, 2014 06:00PM
    388-390 Greenwich Street and Marc Holliday

    388-390 Greenwich Street and Marc Holliday

    SL Green Realty today reported $150 million in funds from operations, or about $1.52 per share in the first quarter, surpassing analysts’ expectations of $1.37 per share. The REIT also reported first quarter revenues of $381.1 million, a year-over-year increase of nearly 41 percent from $360 million.

    The firm signed 75 office leases in its Manhattan portfolio for a total of 548,602 square feet, in line with CEO Marc Holliday’s goal of leasing about half a million square feet per quarter. [more]

  • Prominent property lawyer hit with ban for false filings

    Harold Gruber barred from representing condominium and co-op developments, says AG
    April 23, 2014 05:46PM By David Jones
    From left: Eric Schneiderman and 161 East 110th Street

    From left: Eric Schneiderman and 161 East 110th Street

    New York Attorney General Eric Schneiderman announced that real estate lawyer Harold Gruber is permanently banned from representing condo or co-op developments after an investigation found that he submitted at least nine false filings connected to the Mirada condo in Harlem. [more]

  • Final stretch of the High Line at the Rail Yards

    Final stretch of the High Line at the Rail Yards (Credit: Field Condition)

    De Blasio proposes fireplace ban. Professionals flock to real estate careers amid market rebound. Toll Brothers’ Pierhouse emerges by Brooklyn Bridge Park. Read these stories and more after the jump.

  • Flatiron tower to boast “champagne glass” cantilever

    Continuum's skyscraper on East 22nd Street to stretch 60 stories, 777 feet
    April 23, 2014 05:10PM
    Renderings of 41 East 22nd Street

    Renderings of 41 East 22nd Street

    Continuum’s planned skyscraper at 41 East 22nd Street will stretch higher than neighbor One Madison, according to additional project details revealed today.

    The 60-story, 777-foot-tall tower, which has undergone a handful of revisions since the initial renderings were drawn up in November, will feature a cantilever stretching over the building’s western neighbors. The 81-unit property’s stone base, meanwhile, will house the building’s amenities. [more]

  • Two mixed-use Kips Bay properties hit market for $50M

    Mixed use buildings contain 55 apartments, 5 stores, future development potential
    April 23, 2014 04:46PM By Julie Strickland
    From left: Daniel Shapiro, 360-364 Third Avenue and 368 Third Avenue

    From left: Daniel Shapiro, 360-364 Third Avenue and 368 Third Avenue

    Two listings in Kips Bay with air rights galore are on the market for nearly $50 million. [more]