The Real Deal New York

  • Zara founder buys entire Miami Beach block for $370M

    Billionaire Amancio Ortega acquires retail properties in second biggest Miami-Dade deal ever
    September 04, 2015 12:00PM By Ina Cordle
    1035 Lincoln Road in Miami Beach

    1035 Lincoln Road in Miami Beach

    From the South Florida website: In one of the largest real estate deals in Miami-Dade history, an entire block of Miami Beach’s Lincoln Road has traded hands for $370 million. And the buyer is the world’s fourth richest person, a Spanish fashion billionaire whose empire includes Zara, The Real Deal has learned. [more]

  • The Palazzo di Amore in Beverly Hills

    The Palazzo di Amore in Beverly Hills

    1. Will Millennials buy homes online? Palace of Love” in Beverly Hills drops price by $50 million. East New York is on the rise. Read these stories and more after the jump.

  • Forest City turns to — surprise — Prokhorov to offload Nets, Barclays Center stake

    Deal would see oligarch pay little beyond $31M owed by real estate firm
    September 04, 2015 11:00AM
    Mikhail Prokhorov and a Brooklyn Nets game at Barclays Center

    Mikhail Prokhorov and a Brooklyn Nets game at Barclays Center

    Forest City Enterprises reportedly found a buyer to offload its stake in the NBA’s Brooklyn Nets and the Barclays Center in Prospect Heights – and unsurprisingly, it’s none other than Russian oligarch and Nets majority owner Mikhail Prokhorov. [more]

  • “SVU” star Christopher Meloni’s pad in contract for $9M

    Actor's Midtown unit hit the market back in 2012
    September 04, 2015 10:30AM
    230 West 56th Street in Midtown and Christopher Meloni

    230 West 56th Street in Midtown and Christopher Meloni

    Christopher Meloni’s former “Law & Order: SVU” character, detective Elliot Stabler, should investigate why it took the actor so long to sell his Midtown apartment.

    Meloni and his wife Sherman Williams finally found a buyer for their 3,000 square foot four-bedroom condominium unit at 230 West 56th Street in Midtown. The unit is contract for $9 million after spending three long years on the market. [more]

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  • The Real Deal goes to Shanghai

    More than 5,000 guests expected for China’s biggest-ever US real estate forum
    September 04, 2015 10:06AM By Ariel Stulberg
    A view of Shanghai, where The Real Deal is hosting its U.S. Real Estate Showcase and Forum at the Jing An Shangri-La Hotel this month.

    A view of Shanghai, where The Real Deal is hosting its U.S. Real Estate Showcase and Forum at the Jing An Shangri-La Hotel this month.

    From the September issue: Chinese interest in New York and U.S. real estate has grown at an unprecedented rate in recent years. But there is still a massive untapped market of Chinese investors looking for properties to park their money in, as well as for real estate players who can help make those deals happen.

    While New York City real estate projects are written about daily in the U.S., many Chinese investors don’t have access to key information about those projects or how to get involved because of restrictions on Internet use there. [more]

  • Forest City Ratner’s B2 had “significant water damage” in 2014

    New documents reveal the rumors about Pacific Park project were true
    September 04, 2015 09:36AM
    B2fromFlatbushFull-771x578

    B2 in Pacific Park Brooklyn

    Modular construction might be the wave of the future, but all the kinks have clearly yet to be worked out. [more]

  • City isn’t hiring enough minority contractors: Peebles

    Developer calls for probe of de Blasio Administration's practices
    September 04, 2015 09:01AM
    From left: Don Peebles and Bill de Blasio

    From left: Don Peebles and Bill de Blasio

    Developer and possible mayoral candidate Don Peebles asked Public Advocate Letitia James to look into the de Blasio Administration’s contracting practices, writing in a letter sent Thursday that the city has failed to hire enough firms owned by women and minorities. [more]

  • HAP’s project in Washington Heights is too tall: residents

    Firm meeting opposition in effort to construct 16-story residential building
    September 04, 2015 08:32AM

    A sketch of HAP Seven NY at 4452 Broadway with HAP CEO Eran Polack (inset)

    Washington Heights residents spoke out against HAP Investment Developers’ “HAP Seven NY” project at a community board meeting Wednesday, citing the building’s height and the lack of community benefits offered by the developer. [more]

  • Redfin wants to pay NYC brokers by the hour

    Seattle-based tech company opening brokerage in Brooklyn
    September 04, 2015 08:00AM By E.B. Solomont
    4_49 copy

    From left: Jonathan Makolondra and Redfin CEO Glenn Kelman

    Will New Yorkers buy and sell real estate via the Internet? Online real estate brokerage Redfin says yes.

    The Seattle-based tech company, which has raised nearly $170 million from investors to date, announced Friday that it will launch in Brooklyn. Jonathan Makolondra, a former agent with Rutenberg Realty, will lead its expansion. “We’re very excited about a lot of the new developments coming to Brooklyn,” Makolondra said. “We think that’s going to help us grow.” [more]

  • Most popular stories on The Real Deal

    September 04, 2015 07:31AM

    Current reader favorites:
    1. If the market crashes, these investors will burn
    2. Son of anarchy: Sean Ludwick’s destructive journey
    3. Brett White’s war on CBRE
    4. IRL: Fanduel jumps to Rockrose’s 300 PAS
    5. Benny Caiola, major building owner and developer, dies at 79

  • Online dating exec swipes right for $10.5M West Village condo

    InterActiveCorp's chairman buys unit at 150 Charles Street
    September 03, 2015 05:55PM
    Greg Blatt and renderings of 150 Charles Street in the West Village

    Greg Blatt and renderings of 150 Charles Street in the West Village

    Greg Blatt found love in the West Village. But not with his paramour — with a four bedroom, five-bathroom condo overlooking the Hudson River and Hudson River Park. [more]

  • Collapsed wall at Bed-Stuy construction site kills 1, injures 2

    Incident occurred at 656 Myrtle Avenue late Thursday morning
    September 03, 2015 05:09PM
    656 Myrtle Avenue

    656 Myrtle Avenue in Bedford-Stuyvesant

    A 19-year-old construction worker was killed and two others sustained serious injuries when a building undergoing conversion at 656 Myrtle Avenue in Bedford-Stuyvesant collapsed late Thursday morning.

    The three construction workers, who have not yet been identified, were excavating the site when a rear wall toppled onto them. Two sustained serious head injuries and the other was in cardiac arrest when first responders arrived. [more]

  • School bells ring for real estate pros

    New diploma programs, specialized course offerings aim to meet rising demand
    September 03, 2015 04:35PM By Janna Herron
    Shirley Hackel

    Shirley Hackel

    From the September issue: Professionals in both commercial and residential real estate have several new options for taking on a new role this season: that of a student.

    University programs across the city, along with the education arm of the Real Estate Board of New York, are ramping up their offerings to meet rising demand. 

    These programs, in turn, are helping to boost the number of real estate brokers and salespersons in the Big Apple, which grew 5.5 percent, to 56,187 at the end of 2014, according to the NY Department of State. [more]

  • “This is NYCHA, why haven’t you paid your rent?”

    City plans to robocall NYCHA residents to collect $50M in rent
    September 03, 2015 04:10PM
    Mott Haven and NYCHA

    The Mott Haven Houses at 388 East 141st Street in the Bronx (inset: NYCHA’s Shola Olatoye)

    Public housing in New York City is not without its issues — a backlog of work orders, gang violence and mold, to name a few. Another problem? The New York City Housing Authority is not having an easy time collecting rent. [more]

  • Coolest parents ever buying their college kids NYC apartments

    Mom and dad see long-term investment opportunity in avoiding dorms
    September 03, 2015 03:56PM
    A typical NYU dorm room

    A typical NYU dorm room (credit: Christian Rodriguez/Flickr)

    Goodbye Dorito-caked dorm room floors and hello homeownership! [more]

  • Alexander Wang weighing FiDi move to 115 Broadway

    Fashion house would take 75K sf at Capital Properties building
    September 03, 2015 03:25PM
    115 Broadway in the Financial District (credit: CoStar) and Alexander Wang

    115 Broadway in the Financial District (credit: CoStar) and Alexander Wang

    Alexander Wang is venturing into territory long reserved for financial-services tenants in its search for a new office, with the fashion house reportedly weighing a move to 115 Broadway in Lower Manhattan.

    The company is in talks to take 75,000 square feet at the 430,000-square-foot, neo-Gothic building – including the 21-story building’s penthouse floor. Asking rents at the property, owned by Capital Properties, are north of $60 per square foot. [more]

  • Here’s a look at NYC’s top 10 building buys: VIDEO

    11 Madison, 1095 Sixth Avenue rank highest on TRD's list
    September 03, 2015 03:00PM By Kerry Barger
    Back row, from left: 1095 Sixth Avenue and the Crown Building. Front row, from left: The Helmsley Building, the Mobil Building and 11 Madison Avenue

    Back row, from left: 1095 Sixth Avenue and the Crown Building. Front row, from left: The Helmsley Building, the Mobil Building and 11 Madison Avenue

    When it comes to the city’s trophy towers, New York’s mega-spenders are willing to dish out many, many millions — and in some cases, billions — to get their hands on these prized possessions. [VIDEO]

  • If Trump had put money in an index fund, he’d be twice as rich

    Data paints the Donald as a below-average businessman
    September 03, 2015 02:34PM
    Trump Steaks (left) and Trump Entertainment Resorts were among the real estate heavyweight's less successful ventures.

    Trump Steaks (left) and Trump Entertainment Resorts were among the real estate heavyweight’s less successful ventures.

    Donald Trump became a bestselling author, TV star and presidential candidate based on the premise that he is an exceptionally good businessman. But a look at the numbers suggests his talent for making money may be more fiction than fact. [more]

  • Qatari luxury shop looking to sublease space on Madison

    "Gold Coast" store sits empty after Qela signed pricey lease last year
    September 03, 2015 02:20PM By Rich Bockmann
    Sheikha Mozah bint Nasser Al Missned of Qatar, Richard Hodos and a rendering of 680 Madison Avenue

    Sheikha Mozah bint Nasser Al Missned of Qatar, Richard Hodos and a rendering of 680 Madison Avenue

    Qatari fashion brand Qela’s retail store on the Upper East Side’s “Gold Coast” remains empty more than a year after it inked a deal that cost an arm, a leg and a few diamond-encrusted handbags. And now the haute couture company is quietly shopping around a sublease for the space. [more]

  • City to landlords offering buyouts: Back off!

    Owners will have to wait six months between offers to rent-regulated tenants
    September 03, 2015 01:30PM
    Bill de Blasio

    Bill de Blasio

    It doesn’t hurt to ask, right? When it comes to landlords offering to buy out rent-regulated tenants, Mayor Bill de Blasio begs to differ.

    New rules, signed into law Thursday, will require city landlords to wait six months from the time a rent-regulated tenant rejects a buyout offer before the landlord can make another.

    “We will not let abusive landlords intimidate tenants so they can make an extra buck,” de Blasio said at a hearing Wednesday. [more]

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