The International Council of Shopping Centers’ four-day RECon retail convention and party marathon wraps up today in Las Vegas. Though some brokers told The Real Deal that the show felt busier than last year — and attendance rose — many said the velocity of deals seemed slower. See photos after the jump…. [more]
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Lawrence Yun of National Association of Realtors
Existing home sales rose 0.6% to a rate of 4.97 million units in April. This is the highest pace since November 2009. This was slightly below expectations for a 1.4% month-over-month (MoM) rise to a rate of 4.99 million units.
March’s numbers were revised higher to show a 0.2% fall to 4.94 million units. What’s more distressed sales only accounted for 18% of sales, down from 21% in March, and 28% a year ago. A regional breakdown shows that existing home sales rose the most in the South, up 2.0%. In the Midwest they fell 3.4%, in the Northeast they were up 1.6%, and in the West they were up 1.7%. [more]
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Anthony Weiner
Anthony Weiner, the former “sexting”-embroiled Congressman who today announced he is running for mayor, would make some substantial changes to city housing policy if he wins the race, Brownstoner reported.
Weiner’s plan for affordable housing would grant upzoning and tax abatement benefits for properties that include 60 percent market-rate units, 20 percent middle-income units and 20 percent affordable units, according to a policy document the candidate released several weeks ago. [more]
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From left: Vitaly Malkin and the Time Warner Center
An owner of a Time Warner Center condominium, who is leasing the unit to upstate philanthropist and businessman Sam Nappi, has filed a lawsuit against the wealthy Russian family that owns the apartment above, seeking to halt their allegedly noisy construction work, the New York Daily News reported. [more]
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Orange Leaf franchise set for NYC expansion
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System to include co-op searches and more data
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Eklund, Serhant to appear on new TV show
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Brownstone said to belong to actor listed for $28M
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From left: Ben Shaoul and 254 Front Street
Ben Shaoul’s Magnum Real Estate Group has sold a high-end rental property in the Financial District to Queens-based construction and management firm Werber Management for $25 million, according to records filed with the city yesterday. [more]
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Cushman & Wakefield CEO Glenn Rufrano and Toys “R” Us in Times Square
Toys “R” Us plans to vacate its signature 100,000-square-foot space in Times Square — Ferris wheel and all — by 2016, Crain’s reported. [more]
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469 Seventh Avenue
Summit Business Media has signed a lease to take a 17,000-square-foot space at 469 Seventh Avenue, according to a release from Colliers International, which arranged the deal.
By July, the business-to-business media company will leave behind the sixth floor 475 Park Avenue South for an eight-year lease on the 10th floor of the 267,000-square-foot Midtown West building, between West 35th and West 36th streets. Nearly half of the 16 floors are still available, the release said. [more]
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Rendering of crisis housing complex in Downtown Brooklyn
Construction is starting soon on a three-story, three-unit Downtown Brooklyn mini-complex that will serve as the city’s crisis housing for disaster victims, the New York Post reported.
The site, next to the Office of Emergency Management at 165 Cadman Plaza East, was chosen this month for the $1.1 million contract by the U.S. Army Corps of Engineers. Brooklyn-based Garrison Architects was tapped as designer. Vienna, Va.-based American Manufactured Systems and Services’ proposal described two 822-square-foot units on the top two floors and a 480-square-foot one-bedroom handicap-accessible unit on the ground floor. [more]
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Ian Bruce Eichner and Flatiron District (street photo via Flickr)
Developer Ian Bruce Eichner plans to spend $100 million for a site near the Flatiron Building as well as the air rights of several nearby buildings so he can put up a nearly 800-foot glass condominium tower, the Wall Street Journal reported.
Eichner, of Continuum Company, is within weeks of buying the parcel, at East 22nd Street between Broadway and Park Avenue South, from One Hand Realty LLC. [more]
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Jonathan Tisch (Photo by
STUDIO SCRIVO)From the May issue: Jonathan Tisch is the co-chairman of the board of Loews Corporation, a publicly traded company started by his grandparents in the 1940s that’s now worth in excess of $50 billion. The company has interests in off-shore drilling, insurance and commercial real estate with a major focus on hospitality. His family also owns 50 percent of the New York Giants. Tisch — the son of late business mogul Robert Tisch — is also chairman of Loews Hotels, a Loews subsidiary which owns and operates 19 hotels in the United States and Canada, including the Loews Regency Hotel at 540 Park Avenue. [more]
