The Real Deal New York

  • IMG Worldwide expands in 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 in 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

    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]

  • Inside TheRealDeal
  • 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 $3 billion: Bloomberg index
    July 28, 2015 03:30PM
    donald_trump$

    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 Cowork.rs 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 insta@therealdeal.com
    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: http://instagram.com/trdnyTRD ‘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 insta@therealdeal.com 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]

  • More than 40% of NYC luxury condo buyers took out a mortgage

    Data challenges conventional wisdom of “all-cash” market
    July 28, 2015 11:10AM By Marynia Kruk

    chart1 That “all-cash” dominated luxury condo market you keep hearing about? Turns out, it’s not really a thing.

    In fact, more than 40 percent of buyers purchasing Manhattan condominiums priced at $5 million or more took out mortgages, according to The Real Deal’s analysis of condo purchases between July 2014 and June 2015. [more]

  • A rendering of Extell Development's 250 South Street

    Rendering of Extell Development’s 250 South Street (credit: Extell)

    Extell Development changes height of 250 South Street back to 72 stories. Ralph Lauren is coming to Williamsburg. A tour through the new Staten Island: VIDEO. Read these stories and more after the jump.

  • Skyrocketing land prices rock East End

    Dearth of available space makes for record demolitions as builders look for vacant property
    July 28, 2015 10:10AM By Theresa Agovino
    A 0.8-acre parcel located in East Hampton

    A 0.8-acre parcel located in East Hampton

    From the July issue: There’s a new kind of home advertising in the Hamptons that doesn’t have sparkling adjectives and lush photos beckoning buyers. Instead the ads broadcast “land value,” which essentially tells potential buyers that while they may not want the house, they would want the plot it’s built on. [more]

  • Lawmakers urge Cuomo to enforce new rent regulations

    Democrats aim for 35,000 decontrolled apartments instead of 100,000
    July 28, 2015 09:40AM
    rent-rally-

    A recent rent rally in Albany

    More than a dozen lawmakers are urging Gov. Andrew Cuomo to enforce the new rent regulation law, a move they say would drastically reduce the number of apartments subject to vacancy decontrol. [more]

  • A $56M deal could be the end of an iconic longshoreman’s bar

    Seven buildings on Atlantic Avenue could be sold for $7 million each
    July 28, 2015 09:00AM
    From left: 73 Atlantic Avenue and Montero Bar and Grill in Brooklyn Heights

    From left: 73 Atlantic Avenue and Montero Bar and Grill in Brooklyn Heights

    A longstanding longshoreman’s watering hole in Brooklyn Heights could close as its owner is looking to sell the property as part of a $56 million deal that would list the entire block.

    Pepe Montero, the owner of Montero’s Bar & Grill at 73 Atlantic Avenue, and six of his neighbors are looking to sell their properties for $7 million each, according to the New York Times. [more]

  • Donald Trump sells Trump Park Avenue penthouse for $21M

    The developer rejected a $80,000 a month rental offer
    July 28, 2015 08:40AM
    Donald Trump and the unit at 502 Park Avenue

    Donald Trump and the unit at 502 Park Avenue

    During a brief respite from insulting people and topping national GOP polls, flamboyant developer Donald Trump sold his 6,200-square-foot penthouse at Trump Park Avenue.

    [more]

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