The Real Deal New York

  • RXR may lend a hand with Youngwoo’s SuperPier

    560,000-square-foot, $200 million waterfront complex is scheduled to open next year
    July 23, 2014 04:10PM
    From left: Young Woo, Pier 57 and Scott Rechler

    From left: Young Woo, Pier 57 and Scott Rechler

    Developer Young Woo is reportedly enlisting some help to bring a $200 million waterfront project dubbed the SuperPier to fruition. [more]

  • Bank of China in talks to anchor 7 Bryant Park

    471,000-square-foot tower slated to open early next year
    July 23, 2014 03:50PM
    7-bryant

    7 Bryant Park and Bank of China’s Tian Guoli

    Beijing-based lending giant Bank of China is in talks to become the flagship tenant at the 30-story office tower at 7 Bryant Park in Midtown.

    A partnership including JPMorgan Asset Management, Pacolet Milliken Enterprises and Hines is developing the 471,000-square-foot tower, located on Sixth Avenue between West 39th and West 40th streets. The property is expected to open early next year. [more]

  • Multi-family sales take off as Brooklyn market surged in first half of year

    Dollar volume of such transactions up 120 percent from first six months of 2013
    July 23, 2014 03:30PM By Claire Moses
    From left: Michael Tortorici, Bushwick in Brooklyn and Jonathan Berman

    From left: Michael Tortorici, Bushwick in Brooklyn and Jonathan Berman

    Brooklyn is booming.

    According to Ariel Property Advisors’ half year report for 2014, the dollar volume of sales in Brooklyn topped $3 billion. That marks a 73 percent hike from the first half of 2013. The transaction volume in the first six months was up by about a third (646 transactions),  while the property volume went up 38 percent (884 properties). [more]

  • Developers making moves around Kingsbridge Road Armory

    Hotels among real estate players dipping their toes into the neighborhood
    July 23, 2014 03:10PM
    A rendering of the Kingsbridge Armory ice center

    A rendering of the Kingsbridge Armory ice center

    Developers are paving the way for change along Kingsbridge Road ahead of a $320 million project to transform the street’s armory into an ice skating complex. [more]

  • Inside TheRealDeal
  • Anbau’s Upper West Side project hit with Landmarks rejection

    Panel criticized height and balconies of planned apartment building on West 79th Street
    July 23, 2014 02:45PM
    203-209 West 79th Street

    207 West 79th Street and rendering

    Anbau Enterprises’ plans to build a 16-story Upper West Side apartment building hit a snag yesterday when the Landmarks Preservation Commission rejected the proposed demolition of the five-story property currently on the site. [more]

  • East New York affordable housing may be out of locals’ reach

    Activists fear rents up to $1,670 per month would displace area residents
    July 23, 2014 02:25PM
    Homes in East New York

    Homes in East New York

    A square mile section of Cypress Hills, a northeastern subsection of Brooklyn’s East New York neighborhood, is set to house the first 15 sites of Mayor Bill de Blasio’s $41 billion affordable housing plan. But residents of the area, one of the poorest in the city, likely won’t be able to swing the cost of these “affordable” units.

    The median income in the district is around $32,000 per year, and the median rent of the planned affordable units citywide is to be between $1,050 and $1,670, Shai Lauros, director of community development for the Cypress Hills Local Development corporation, told Gothamist. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    July 23, 2014 02:05PM

    1. Top of the market is extremely crowded: Kushner, Naftali
    2. Design of new High Line building revealed
    3. Robert Durst allegedly urinated on CVS cash register: cops

    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]

  • Anti-corruption panel clashed over real estate influence on Cuomo: report

    Loyalists to governor purportedly blocked efforts to subpoena industry board
    July 23, 2014 01:45PM
    From left: Andrew Cuomo and Steven Spinola

    From left: Andrew Cuomo and Steven Spinola

    An investigation shows that members of an anti-corruption commission and loyalists to Governor Andrew Cuomo clashed over efforts to look into the governor’s relationship with real estate professionals.

    The insight into the Moreland Commission came out after the New York Times released the results of a three-month investigation into the extent of the governor’s office’s efforts to block the panel’s information-gathering. [more]

  • Those old Verizon buildings in NYC? They’re condo towers now

    Luxury homes replaced telco's one-time tech spaces
    July 23, 2014 01:25PM
    verizon

    From left: 212 West 18th Street, 435 West 50th Street before conversion, and 140 West Street

    Verizon Communications sold 10 of its New York City properties over the past decade – most of which have been converted into brick, residential condominium towers. [more]

  • Demand for hotels in Brooklyn back up to pre-Sandy levels

    June of this year saw the first year-over-year increase since April 2013
    July 23, 2014 01:00PM
    Wythe Hotel

    Wythe Hotel

    Brooklyn’s demand for hotel rooms is back on track, continuing along an upward path toward pre-Superstorm Sandy highs. [more]

  • Business owners call for Crown Heights industrial zone revamp

    Area east of Barclays Center could accommodate new housing and light industry, advocates say
    July 23, 2014 12:35PM

    823 Bergen Street in Crown Heights

    Some building and business owners are calling on the city to rezone a portion of Crown Heights to allow residential properties to rise above light industrial facilities.

    The area just east of Barclays Center is dominated by one-story warehouses and garages due to zoning left over from an era when the neighborhood serviced rail lines along Atlantic Avenue, WNYC reported. But between October and March of this year, there were more apartment building sales transactions in Crown Heights than any other city neighborhood, according to Ariel Property Advisors data cited by the station. That residential demand is leading some to question whether the current zoning is still relevant, and if a plan for mixed-use properties would be a better option. [more]

  • Andrew Bradfield to build residential building in Clinton Hill

    Orange Management boss bought site for $9.2M in December
    July 23, 2014 12:10PM By E.B. Solomont
    From left: Andrew Bradfield and

    Andrew Bradfield and a rendering of 502 Waverly Avenue

    Manhattan-based developer Andrew Bradfield is looking to Brooklyn for his next luxury condo project. [more]

  • City Planning to review 445K sf Staten Island Mall expansion

    General Growth Properties' plan calls for Macy's addition, supermarket, theater and garage
    July 23, 2014 11:50AM
    si-mall.jpg

    Staten Island Mall

    Chicago-based real estate investment trust General Growth Properties is slated to present its plans tomorrow to the Department of City Planning for the 445,000-square-foot expansion of the 85-acre Staten Island Mall.

    The shopping center at 2655 Richmond Avenue, located in the Heartland Village residential development, would gain several new buildings by 2017. [more]

  • Ridgewood Masonic Temple in Bushwick designated landmark

    Fraternal society uses 1920s-era venue for meetings, concerts
    July 23, 2014 11:25AM
    ridgewood-masonic

    1054 Bushwick Avenue in Bushwick

    The Landmarks Preservation Commission designated the Ridgewood Masonic Temple in Bushwick a city landmark yesterday in a unanimous decision.

    The Beaux-Arts structure was erected at 1054 Bushwick Avenue, near Gates Avenue, in 1920. Fraternal society the Freemasons uses the 15,000-square-foot space for meetings and parties. Bands such as Sleigh Bells and Lightning Bolt have performed in the first-floor theater in recent years, as previously reported. [more]

  • Former de Blasio campaign manager consulting for Airbnb

    Apartment-sharing site took on Bill Hyers months ago as it tweaks business model in NYC
    July 23, 2014 11:00AM
    From left: Bill Hayers and Airbnb website

    From left: Bill Hayers and Airbnb website

    Mayor Bill de Blasio’s former campaign manager has signed on as a consultant with Airbnb as the apartment-sharing website weathers challenges to its business model in New York City. [more]

  • Meet the landlord: Tom Lebling of Equity Residential

    Acquisition, development lifts real estate investment trust portfolio in New York area to 38 properties with 10,330 units
    July 23, 2014 10:30AM
    Tom Lebling

    Tom Lebling

    From the July issue: In this month’s meet the landlord feature, TRD talks to Tom Lebling of Equity Residential. He discusses how he got his start in real estate, the challenges he has faced as a landlord and his workload since Equity’s $9 billion acquisition of Archstone a little over a year ago. Click here to read more.

  • Brokerage manual reveals tricks of the trade in NYC

    One pithy tip from the guide: Engage clients in small talk, such as "Do you like the sun?"
    July 23, 2014 10:00AM

    A manual with tips for brokers has been revealed

    When is it appropriate for a broker to date a potential tenant? According to a real estate manual from an unnamed brokerage, not until “after we rent them and collect the broker’s fee.”

    The Guardian got its hands on that manual for real estate agents in New York City after it was left in one reporter’s apartment. Other advice includes: always get the client into the office and never show an apartment to a husband without his wife. [more]

  • 243 West 98th Street #7A

    243 West 98th Street #7A

    Doll-filled house, including a rent-stabilized tenant, lists for $1.3 million. Professional ropers inspect buildings from up close, 500 feet above the ground. Construction at One Soho Square underway. Read these stories and more after the jump.

  • Design of new High Line building revealed

    Soo Chan tapped as architect for Bauhouse Group's building on West 29th Street
    July 23, 2014 09:00AM
    Renderings for 515 West 29th Street

    Renderings for 515 West 29th Street

    The latest building to join the High Line has been revealed. [more]

  • 8 NYC sites that were razed before Landmarks panel could act

    Report says owners demolished buildings ahead of designation review
    July 23, 2014 08:30AM By Mark Maurer
    41-43 Bond Street

    41-43 Bond Street

    Nearly 30 buildings were spotlighted in the Greenwich Village Society for Historic Preservation’s recent report on landlords demolishing buildings after Landmarks Preservation Commission officials tipped them off.

    The advance notice allows landlords to push through demolitions before the landmarks process begin. Between 2002 and 2013, these situations span the city. Most of the buildings were altered, either with a new façade or a rooftop or the removal or a cornice. About eight of the sites were razed, including a historic townhouse making way for a condominium building or a historic factory building being replaced by a parking lot. Click here for a slideshow and more.

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