The Real Deal New York

  • Former Jonathan Rose exec to run new city housing division

    Neighborhood Strategies will work on land use review applications and plan large-scale projects
    October 01, 2014 04:05PM
    hpd

    Daniel Hernandez and Vicki Been

    Daniel Hernandez, a former executive at affordable housing-focused development firm Jonathan Rose Companies, was tapped to run a new division of the city’s Department of Housing Preservation and Development to set up the new mandatory inclusionary zoning program.

    Agency commissioner Vicki Been said the new division, known as Neighborhood Strategies, will work on land use review applications and plan for large-scale projects. Under the mandatory inclusionary housing program, developers of massive projects that need zoning approvals would be required to provide a percentage of affordable housing without subsidies. [more]

  • De Blasio signs tenant harassment bill

    Measure lifts maximum penalty and requires DHP to post list of problem landlords
    October 01, 2014 03:40PM
    From left: Jumaane Williams, Melissa Mark-Viverito and Margaret Chin

    From left: Jumaane Williams, Melissa Mark-Viverito and Margaret Chin, who sponsored the bill

    Mayor Bill de Blasio signed a bill Tuesday that will require the Department of Housing Preservation and Development to post a list of landlords found in housing court to have harassed tenants on its website. The measure also lifts the maximum penalty for such landlords to $10,000 per residential unit. [more]

  • Would-be record-selling UES co-op on market as rental

    22-room mansion previously in contract for $75M sale now asking $150K per month
    October 01, 2014 03:20PM
    64th

    828 Fifth Avenue (Inset: Alexa Lambert)

    A 22-room mansion that almost set the sales record for a New York City co-op last year is back on the market. But this time around, the palatial pad is up for grabs as a $150,000-per-month rental. [more]

  • $26.5M penthouse at Brodsky’s 135 East 79th Street in contract

    Two available duplex penthouses remain up for grabs in developer's swanky project
    October 01, 2014 03:00PM
    135 East 79th Street

    135 East 79th Street, Manhattan

    One of the three last available penthouses at the Brodsky Organization’s 135 East 79th Street, listed for $26.5 million, has entered contract. [more]

  • Inside TheRealDeal
  • Jeff Appel ousted at Town: sources

    President and COO’s abrupt dismissal follows Heiberger’s surprise return as CEO
    October 01, 2014 02:44PM By Hiten Samtani
    From left: Andrew Heiberger and Jeff Appel

    From left: Andrew Heiberger and Jeff Appel

    UPDATED, 3:00 p.m., October 1: On the same day that Andrew Heiberger made a dramatic return as CEO to Town Residential, president and COO Jeff Appel was terminated, sources told The Real Deal. [more]

  • Farm colony’s redevelopment as senior complex under review

    Landmarks panel supportive of 70-acre Staten Island project, but seeks clearer design plan
    October 01, 2014 02:15PM
    colony

    Map of proposed New York City Farm Colony redevelopment on Staten Island

    The Landmarks Preservation Commission is expected to approve the redevelopment of the New York City Farm Colony, a 70-acre campus of abandoned buildings on Staten Island, into a 350-unit complex for senior citizens. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    October 01, 2014 01:55PM

    1. Lightstone Group unloads downtown site for $171M
    2. News Corp. paying $950M for real estate listing website
    3. Andrew Heiberger returns as CEO of Town

    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]

  • Details revealed for 1059 Third Ave. condo project

    Manuel Glas-designed property to hold 67 residential units, along with office and retail space
    October 01, 2014 01:35PM
    1059 Third Avenue

    1059 Third Avenue

    Chance Gordy’s Real Estate Inverlad Development, in partnership with Steve Mills’ Third Palm Capital, have filed permits for a planned residential tower at 1059 Third Avenue.

    The Manuel Glas Architects-designed 30-story, 481-foot-tall building is to hold 105,000 square feet of residential space divided among 67 apartments, according to Department of Buildings filings cited by New York YIMBY. Each unit will total 1,500 square feet on average, with 16-foot floor-to-floor heights. The residences will be condominiums, according to previous reports. [more]

  • Partial-interest owner seeks forced sale of East Village apartment building

    Mallah-linked company follows same legal strategy successfully employed by Extell
    October 01, 2014 01:11PM By Adam Pincus
    Dolan-820-Mac-Avoy

    From left: Richard Dolan, 820 Broadway (Photo credit: Google) and Janice Mac Avoy

    An entity affiliated with a parking garage dynasty is taking a page out of Gary Barnett’s playbook to force a sale of the land under a large apartment building in the East Village. [more]

  • Brookfield affiliate wins Revel casino auction with $110M bid

    Battle is brewing as runner-up Glenn Straub challenges the auction's transparency
    October 01, 2014 12:40PM
    Revel casino in Atlantic City

    Revel Casino in Atlantic City

    Atlantic City’s Revel Casino Hotel confirmed today that an affiliate of Toronto-based Brookfield Asset Management won an auction to acquire the property and its assets for $110 million.

    The company’s real estate management arm, Brookfield U.S. Holdings, topped the $90 million benchmark bid by Florida real estate investor Glenn Straub, as reports had previously indicated. “Revel is a brand new trophy asset on the beachfront, which we are acquiring at a substantial discount to replacement cost,” Andrew Willis, a Brookfield spokesperson, told Bloomberg News via email. [more]

  • Investment sales cool as prices rise: Massey Knakal report

    Average price per foot for Manhattan deals hit $1,629 in third quarter
    October 01, 2014 12:10PM By Adam Pincus
    Knakal-3Q-brief

    From left: Robert Knakal, Harry Macklowe, 985-989 Third Avenue rendering and 719 Seventh Avenue

    Demand for New York City investment properties dipped over the past quarter as buyers absorbed the continuing increases in values, Robert Knakal, chairman of Massey Knakal Realty Services, said this morning at a quarterly media market briefing at the company’s Midtown headquarters. [more]

  • Plans filed for another Essex Crossing building

    Structure will be 26 stories tall, boast 300,000 square feet
    October 01, 2014 11:40AM By Claire Moses
    Rendering of Essex Crossing (Credit: SHoP Architects)

    Rendering of Essex Crossing on the Lower East Side (Credit: SHoP Architects)

    An application to construct a new 26-story building as part of the Essex Crossing development was filed with the city on Wednesday, according to city records. [more]

  • Upper West Side church gets Landmarks OK to add apartments

    Seven-story residential component to hold as many as 10 units
    October 01, 2014 11:30AM
    lpc

    Frederick Bland and 140 West 81st Street on Upper West Side

    The Landmarks Preservation Commission approved the Mount Pleasant Baptist Church’s plan yesterday to add a seven-story residential component to the church site on the Upper West Side.

    DXA Studio is designing the conversion at 140 West 81st Street. Church officials propose constructing as many as 10 apartments, with the top two floors holding duplexes. The project will also result in repaired stained glass windows and some of the church windows being replaced with wood-frame windows. The property, built in 1893, will have two separate entrances – one for the church and one for the apartments. [more]

  • Andrew Heiberger returns as CEO of Town

    Partner Joseph Sitt has led the firm since earlier this year
    October 01, 2014 11:05AM By Hiten Samtani
    From left: Andrew Heiberger and Joseph Sitt

    From left: Andrew Heiberger and Joseph Sitt

    Andrew Heiberger is retaking the reins at Town Residential, replacing business partner Joseph Sitt as CEO, effective immediately.

    “From the beginning, Andrew has led the way in establishing a new degree of excellence on behalf of our clients and representatives,” Sitt and Heiberger said in an email sent to Town’s staff this morning that was shared with The Real Deal. “In the coming months and years, you can expect to see even more, as we continue to cement our reputation as the leading light in New York residential real estate.” [more]

  • Mixed-use tower proposed for Victoria Theater site in Harlem

    Lam Group is developing the site, which will include a hotel and residential component
    October 01, 2014 10:40AM
    From left:

    From left: 233 West 125th Street and John Lam

    Permits have been filed by the Lam Group for the redevelopment of Harlem’s Victoria Theater .

    Aufgang is designing the proposed 26-story tower. The building will be 300 feet tall, according to New York YIMBY. [more]

  • Morgan Stanley sells Fifth Avenue retail space for $170M

    Ashkenazy Acquisition and the German Deka Immobilien Investment purchased the space
    October 01, 2014 10:10AM
    From left: Ben Ashkenazy and 522 Fifth Avenue

    From left: Ben Ashkenazy and 522 Fifth Avenue

    Ashkenazy Acquisition and Germany-based Deka Immobilien Investment have bought two retail condos at 522 Fifth Avenue. [more]

  • The home of former Notre Dame coach Knute Rockne is on the market for the first time since 1929

    The home of former Notre Dame coach Knute Rockne is on the market for the first time since 1929

    Home of Notre Dame Coach Knute Rockne for sale. New app helps apartment dwellers organize. Buy a home, get a passport in the Caribbean? Read these stories and more after the jump.

  • Permits filed for new 27-story LIC apartment building

    Permits for a 26-story residential tower next door were filed on Tuesday
    October 01, 2014 09:00AM
    From left: Twining Properties CEO Alex Twining and 27-19 44th Drive, Long Island City

    From left: Twining Properties CEO Alex Twining and 27-19 44th Drive, Long Island City

    The construction boom in Long Island City’s Court Square is continues, with a permit application filed for a 282-feet tall tower at 27-19 44th Drive. [more]

  • Tishman Speyer snaps up Madison Avenue tower for $185M

    Art deco building at 34th Street includes 20,000 square feet of retail space
    October 01, 2014 08:30AM
    From left: 183 Madison Avenue and Rob Speyer

    From left: 183 Madison Avenue and Rob Speyer

    Tishman Speyer Properties, together with the Cogswell-Lee Development Group, has reportedly bought 183 Madison Avenue for $185 million.

    Argentinian investment company IRSA sold the art deco building on East 34th and Madison, according to the New York Post. The building is 19 stories and was designed by Warren & Wetmore in 1925. The building was originally designed for the silk industry, and multiple fashion tenants are still housed there. [more]

  • Pair of Puck Building penthouses list for combined $57M

    First unit at Jared Kushner development sold for $28M
    October 01, 2014 08:00AM
    From left: Puck Building at 295 Lafayette Street and penthouse interior

    From left: Puck Building at 295 Lafayette Street and penthouse interior

    The sale of a penthouse at the Puck Building in May for $28 million appears to have encouraged developer Jared Kushner — so much so thatSotheby’s International Realty has now listed two additional penthouses at 295 Lafayette Street for a combined total ask of $57 million. [more]

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