The Real Deal New York

  • Study: Airbnb pushing renters out of hot neighborhoods

    More than 20% of East Village apartments off the market, say housing advocates
    July 29, 2015 09:10AM

    From left: Airbnb CEO Brian Chesky and an East Village block

    Airbnb, beloved by tourists and “hosts,” is bad for everyone else, pushing rental apartments off the market in hot neighborhoods, a new study by housing advocates finds. [more]

  • City to take in $22.3B in local tax revenue in FY 2015

    By 2019, the revenue number is projected to be $25.5 billion
    July 29, 2015 08:35AM
    Bill de Blasio

    Bill de Blasio

    The city expects to receive $22.3 billion from property tax collections this fiscal year, or 40 percent of the city’s total $56.9 billion revenue stream.

    The revenues are a result of a strong real estate market as well as increased collections of property taxes, according to a Financial Control Board report cited by Capital New York. [more]

  • Timehop skips, jumps into new office

    Nostalgia app company doubles its space at 401 Broadway
    July 29, 2015 08:02AM
    From left: Timehop CEO Jonathan Wegener and 401 Broadway

    From left: Timehop CEO Jonathan Wegener and 401 Broadway

    Timehop, the company behind the app that shows you slightly younger versions of yourself on Facebook, is growing up, doubling the size of its New York office space.

    The tech upstart, whose app has been downloaded 15 million times, has moved to grander digs within its 401 Broadway home. Timehop will be moving from its current 2,000-square-foot space on the 17th floor to its new 4,142 square foot office on the 11th floor, the New York Post reported. [more]

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    3. With $109M in VC funding, LendingHome takes on mortgage market
    4. Late landlord’s daughters to be rewarded for marriage, babies born in wedlock
    5. Cuomo plans demolition, redevelopment of LaGuardia Airport

  • Inside TheRealDeal
  • Jesse Pinkman's house on "Breaking Bad" in Albuquerque, New Mexico

    Jesse Pinkman’s house on “Breaking Bad” in Albuquerque, N.M.

    “Breaking Bad” house in Albuquerque lists for $1.6 million. Beyond gentrification: Ralph Lauren is coming to Williamsburg. Concrete chunk falls from landmarked Union Square building. Read these stories and more after the jump.

  • City officials, UES residents discuss building height cap

    Council member Kallos urges CB8 to look into zoning change
    July 28, 2015 05:55PM
    180 East 88th Street on the Upper East Side (credit: DDG) and Ben Kallos

    Rendering of 180 East 88th Street on the Upper East Side (credit: DDG) and Ben Kallos

    City officials are discussing ways to stem the influx of residential skyscrapers on the Upper East Side that could include a height cap in certain zoning districts.

    Roughly 200 Lenox Hill residents joined elected officials at a forum Thursday to discuss the matter, with City Council members Ben Kallos and Dan Garodnick among those calling for a height cap in certain parts of the Upper East Side. [more]

  • IMG Worldwide expands at SL Green’s 304 Park Ave. South

    Talent agency signs on for an extra 22K sf
    July 28, 2015 05:46PM
    304 Park Avenue South in Flatiron

    304 Park Avenue South in Flatiron

    Talent agency IMG Worldwide signed on for another 22,500 square feet at SL Green Realty’s 304 Park Avenue South, bringing its total area to 96,000 square feet.

    Asking rent in the building was $72 a square foot, the New York Post reported. IMG represents top models, entertainment and sports figures. [more]

  • RedSky zeroing in on DoBro site with 330K sf

    Investment firm close to finalizing Fulton St. development play after 3 years
    July 28, 2015 05:35PM By Mark Maurer and Kyna Doles
    Fulton Street Brooklyn

    567-569 and 585-587 Fulton Street in Downtown Brooklyn (inset: Ben Bernstein)

    After more than two years of dealmaking, RedSky Capital is one transaction away from assembling a nine-building Downtown Brooklyn development site offering 330,000 buildable square feet. [more]

  • Eastern Union to go on hiring spree, open new offices

    Ira Zlotowitz’s firm plans to add 200 brokers
    July 28, 2015 05:20PM By Konrad Putzier
    From left: 641 Lexington Avenue (credit: LiquidSpace) and Ira Zlotowitz

    From left: 641 Lexington Avenue (credit: LiquidSpace) and Ira Zlotowitz

    Mortgage brokerage Eastern Union Funding is looking to expand aggressively, with plans to hire 200 brokers and open several new offices across New York City, company president Ira Zlotowitz told The Real Deal. [more]

  • Northwind to buy 40 Exchange Place for $120M

    Weiss family selling 250K sf office building after 25 years
    July 28, 2015 05:00PM By Mark Maurer
    40 Exchange

    From left: Ran Eliasaf, 40 Exchange Place, Lipa Lieberman and Jason Marin

    Ran Eliasaf’s Northwind Group is in contract to buy a 20-story office building at 40-42 Exchange Place in the Financial District for $120 million, The Real Deal has learned. [more]

  • Can One Vanderbilt be a Midtown East catalyst?

    Rezoning could spark new era of office construction near Grand Central
    July 28, 2015 04:30PM By Ariel Stulberg
    From left: Dana L. Moskowitz, A. Mitti Liebersohn and Seth Pinsky

    From left: Dana L. Moskowitz, A. Mitti Liebersohn and Seth Pinsky

    From the July issue: Manhattan office vacancies are low and prices keep rising. But while the fast-growing technology and media sectors colonize Midtown South, and new construction at the World Trade Center and Hudson Yards draws major corporations to Downtown and Midtown West, one traditional office center is lagging. [more]

  • LaGuardia revamp to cost $8 billion, take 10 years: experts

    Cuomo hasn't yet offered specifics on cost projections
    July 28, 2015 04:11PM
    Rendering of LaGuardia Airport's redesign (credit: office of Governor Andrew Cuomo)

    Rendering of LaGuardia Airport’s redesign (credit: office of Governor Andrew Cuomo)

    Governor Andrew Cuomo announced a complete overhaul of one of the world’s worst airports on Monday, including plans for a new central terminal and two new adjoining terminals — but declined to give specifics about projected cost. Experts think the plans at LaGuardia could take 10 years and cost $8 billion. [more]

  • What’s Donald worth? Not $10 billion

    GOP presidential hopeful's worth just under $3 billion: Bloomberg index
    July 28, 2015 03:30PM

    Donald Trump

    The latest math on Donald Trump’s finances pegs the Republican presidential hopeful’s worth at $2.9 billion, a far cry from the $10 billion figure he’s very humbly claimed.

    That’s according to analysis by the Bloomberg Billionaires Index, based partly on Trump’s 92-page personal financial disclosure form, which was made public last week. [more]

  • Samson buys Gowanus office building for $73M

    92 Third Street is occupied by and Genius Media
    July 28, 2015 03:00PM
    Rendering of 92 Third Street in Gowanus (credit: LIVWRK) (inset: Asher Abehsera)

    Rendering of 92 Third Street in Gowanus (credit: LIVWRK) (inset: Asher Abehsera)

    Samson Management scooped up FirstMark Capital and LIVWRK’s newly-renovated, mostly-leased Gowanus office building for $73 million. [more]

  • Here’s what the $10M-$20M NYC investment sales market looked like last week

    Lenox Hill development site sells for $12 million; Greenpoint warehouse trades for $10.5 million
    July 28, 2015 02:40PM By Kyna Doles
    321 East 60th Street and 83 Apollo Street

    From left: 321 East 60th Street and 83 Apollo Street

    From Minuit Partners’ $12 million sale in Lenox Hill to a flip in Greenpoint, we recap  last week’s activity in the New York City’s investment sales market for properties between $10 million and $20 million.

  • A look at Bjarke Ingels’ design of Blumenfeld project in Harlem

    Property to span almost 232k sf and include 233 apartments
    July 28, 2015 01:55PM
    Rendering of Bjarke Ingels' design for 146 East 126th Street (Credit: Bjarke Ingels Group via NY YIMBY) and Bjarke Ingels

    Rendering of Bjarke Ingels’ design for 146 East 126th Street (Credit: Bjarke Ingels Group via NY YIMBY) and Bjarke Ingels

    Bjarke Ingels is about to make his mark on East Harlem. [more]

  • Bushburg, affiliates unjustly fired workers: union

    Employees claim their wages and benefits were slashed before they were cut loose
    July 28, 2015 01:20PM
    1711-1751 Fulton Street in Bedford-Stuyvesant

    1711-1751 Fulton Street in Bedford-Stuyvesant

    Union workers say Brooklyn landlord Bushburg Properties and its affiliates unjustly cut their wages and benefits before ultimately firing them from the affordable housing complex they worked in Bedford-Stuyvesant.

    Former maintenance workers at 1711-1751 Fulton Street, a Mitchell-Lama development, filed a complaint with the National Labor Relations Board, DNAinfo reported. The employees were fired in June after new management took over, slashed their pay by 50 percent, and changed their benefits without giving them an opportunity to bargain, property services workers union SEIU32BJ alleges. [more]

  • Follow The Real Deal on Instagram

    Send your pics to
    July 28, 2015 12:40PM

    Screen-Shot-2014-11-05-at-11.18.49-AMNew York City is a visual playground for professional photographers and amateur shutterbugs alike. The city’s buildings and public spaces provide endless fodder for those trying to capture the perfect moment in time, whether it’s through the lens of an HD camera or a smartphone.

    The Real Deal is in on a little bit of that fun on our Instagram channel: ‘grams snippets from our magazine, party pics from around the world of NYC real estate, and the latest renderings from new projects across the city. Have something to share with us? Send us your photo to and you could be featured on our Instagram feed.

    Happy sharing!

  • Washington Heights to get its first two hotels

    Hotel Cliff and the Edge slated to open next month
    July 28, 2015 12:15PM
    From left: Rendering of the Hotel Edge and developer Oskar Brecher

    From left: Rendering of the Hotel Edge and developer Oskar Brecher

    Doctors visiting Columbia University Medical Center will soon have somewhere to hang their heads. Two hotels, the first ever in the neighborhood, are expected to open this August in Washington Heights.

    The first, the long-awaited eight-story, 52-room Hotel Cliff at 505 West 181st Street, will welcome guests in early August, DNAinfo reported. The building’s owner, Manny Singha, initially filed plans eight years ago. [more]

  • Public food court coming to Brooklyn Navy Yard

    BLDG 77 renovation aims to create gateway to the outside world
    July 28, 2015 11:40AM
    Rendering of BLDG 77 (credit: Beyer Blinder Belle) (inset: David Ehrenberg)

    Rendering of BLDG 77 (credit: Beyer Blinder Belle) (inset: David Ehrenberg)

    The historically isolated, walled-off Brooklyn Navy Yard will soon be getting a space that aims to serve as a gateway to the public, complete with a food court and gathering places for employees. [more]