The Real Deal New York

  • Court blocks Kuafu’s attempt to ditch Hudson Rise partners

    Strange series of lawsuits over Hudson Rise "not going to end here": judge
    April 24, 2015 06:41PM By Konrad Putzier and Kyna Doles
    Kuafu Ludwick

    From left: Kuafu’s Shang Dai, a rendering of Hudson Rise at 462-470 Eleventh Avenue, and Sean Ludwick

    Kuafu Properties just learned the hard way that dissolving a partnership can be far more difficult than forming one.

    A judge dismissed the New York-based Chinese developer’s petition to cut ties with estranged partners Sean Ludwick’s Blackhouse Development and Siras Development, in a decision reached April 14 and publicly filed Wednesday. This means a bizarre series of lawsuits between the three firms over the 47-story hotel and condo development Hudson Rise is likely headed for another round. [more]

  • Top residential agents of the week

    April 24, 2015 06:15PM
    Maria Manuche and 38 East 1st Street in the East Village

    Maria Manuche and 38 East 1st Street in the East Village

    Maria Manuche, formerly of the Corcoran Group (now at Compass) topped the week’s residential sales with a $6.1 million co-op at 38 East 1st Street in the East Village. Click here to see this listing and more.

  • Pregame analysis: Players weigh in on Meridian Capital’s investment sales push

    Brokerage's move likely to impact middleweight firms
    April 24, 2015 06:00PM By Mark Maurer
    Meridian Capital RE

    From left: Ralph Herzka, Bob Knakal, J.D. Parker and Stephen Shapiro

    Eat. Sleep. Close. Repeat.

    Meridian Capital Group’s mantra, apt for what sources say is one of the most intense companies a broker can work in, has served it well in the mortgage business. But could Meridian bring the same pizzazz to the investment sales space? [more]

  • Douglas Durst drops court order against Andrew Jarecki

    Robert Durst was the source of the footage of court depositions
    April 24, 2015 05:15PM
    Andrew Jarecki, Robert Durst and Douglas Durst

    From left: Andrew Jarecki, Robert Durst on “The Jinx” poster (Credit: HBO) and Douglas Durst (Credit: Adam Pincus)

    Douglas Durst has dropped his case against “The Jinx” creator Andrew Jarecki. The chair of the Durst Organization had asked a state Supreme Court in January to order Jarecki to reveal how he got his hands on videos of court depositions by members of the Durst family. [more]

  • Inside TheRealDeal
  • Chinese investments in NY could total $50B in coming years

    While 2014 broke records, more is to come, according to experts
    April 24, 2015 04:40PM

    The Waldorf Astoria

    Chinese investors could bring more than $50 billion to the New York City real estate market, according to Cushman & Wakefield chairman of New York investment sales Bob Knakal. [more]

  • Rockfeld Group to buy retail condo in former Williamsburgh Savings Bank Tower

    Asking price at One Hanson was in the mid-$20M range
    April 24, 2015 04:20PM By Rich Bockmann
    The ground-floor interior of One Hanson Place and Steven Feldman.

    The ground-floor interior of One Hanson Place and Steven Feldman

    The Brooklyn Flea may be gone, but there’s no dearth of deals being done under the vaulted ceilings of the ornate, Beaux Arts interior of the former Williamsburgh Savings Bank Tower.

    The Rockfeld Group is in contract to buy a retail condo with 61-foot ceilings at 1 Hanson Place in Downtown Brooklyn, The Real Deal has learned. The space, which was asking in the mid-$20 million range, is so cavernous that it used to host the borough’s popular bazaar.  [more]

  • Arnold Penner’s son drops “hoodwinking” claims against him

    In a motion tied 250 Church deal, Arnold said Jonathan was "far from a babe in the woods"
    April 24, 2015 03:46PM By Tess Hofmann

    250 Church Street in Tribeca (inset: Arnold Penner)

    Jonathan Penner has dropped a dramatic lawsuit accusing his father, real estate investor Arnold Penner, of hoodwinking him out of a lucrative investment in a Tribeca office building. For his part, Arnold pooh-pooed his son’s allegations and said Jonathan should have “engaged in some simple math before filing the complaint.” [more]

  • Tracy Mansion, once Brooklyn’s priciest single-family listing, set for conversion

    Park Slope mansion may be split into seven units
    April 24, 2015 03:10PM By Will Parker
    Tracy Mansion Brooklyn

    Tracy Mansion at 105 Eighth Avenue in Park Slope (credit: Halstead Property and Zillow)

    It’s not the official residence of the mayor, but it does sound like it, and it does lie in Hizzoner’s neighborhood. [more]

  • MoMA store in Soho mulls move

    Shop's lease expires in 2016 after 13 years in the Spring Street location
    April 24, 2015 02:42PM
    From left: 81 Spring Street and the MoMa store

    From left: 81 Spring Street in Soho and the MoMA store

    The Museum of Modern Art Design Store could be moving to another location, due to rising rents. [more]

  • What’s hot on TRD Social right now

    The most buzzworthy posts on The Real Deal's Facebook page
    April 24, 2015 02:15PM

    1. “Million Dollar Listing”: Comps are overrated
    2. Frank Sinatra’s UES pad sells for $5M
    3. Compass accuses Corcoran of launching smear campaign

    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]

  • Gloria Vanderbilt’s former UES mansion hits market for $59M

    B+B Capital, Mink Development converting it from five units to a single-family home
    April 24, 2015 01:45PM
    39 East 72nd Street on the Upper East Side and Gloria Vanderbilt

    39 East 72nd Street on the Upper East Side and Gloria Vanderbilt

    A Gilded Age mansion on the Upper East Side that was once home to heiress and socialite Gloria Vanderbilt, mother of Anderson Cooper, listed for $59 million.

    The building at 39 East 72nd Street is currently configured as five apartments, but owners B+B Capital and Mink Development have plans to convert it to a single family. CetraRuddy has been hired for the conversion, according to the New York Daily News. The finished product would be an 11-bedroom, 10-bathroom home with two terraces, located just one block from Central Park. [more]

  • Crane collapse kills worker at Even Hotel site in Midtown

    Raber is developing a 35-story hotel at 219 East 44th Street
    April 24, 2015 01:15PM
    From left: Rendering of 219 East 44th Street and the scene on Friday morning (Credit: @andyjayhawk)

    From left: Rendering of 219 East 44th Street and the scene on Friday morning (Credit: @andyjayhawk)

    A construction worker was killed Friday morning in a crane collapse at the construction site of the Raber Enterprises-developed Even Hotel on East 44th Street. [more]

  • Buyer with a divine touch pays $30M for One57 pad

    Hebrews 3:4 LLC scoops up 53rd-floor unit at Billionaires' Row tower
    April 24, 2015 12:48PM By Konrad Putzier and Hiten Samtani
    Gary Barnett and an illustration of One57

    Gary Barnett and an illustration of One57

    By the looks of it, Gary Barnett is getting some divine help in his bid to sell out One57.

    A mysterious entity called “Hebrews 3:4 LLC” scooped up a 53rd-floor apartment for $30 million, property records filed with the city today show. The name appears to refer to a sentence in the New Testament: “For every house is built by someone, but God is the builder of everything.”

    Whether the buyer is religious or just has an unusual sense of humor, he or she will surely live like a god. [more]

  • Anbau buys UWS development site for $39M

    Developer plans to build 13-story Morris Adjmi-designed condominium at 209 West 79th St.
    April 24, 2015 12:30PM By Claire Moses
    From left: Current building at 207 West 79th Street, a rendering of the proposed new building (Credit: Morris Adjmi) and  Anbau's Stephen Glascock

    From left: Current building at 207 West 79th Street, a rendering of the proposed new building (Credit: Morris Adjmi) and Anbau’s Stephen Glascock

    Anbau Enterprises closed on 207 West 79th Street — a site next to the landmarked Lucerne Hotel on the Upper West Side, where the developer plans to build a 13-story condominium — for $39 million, according to property records filed with the city today. [more]

  • TRD’s Broward Forum & Showcase draws more than 2,000 industry professionals

    Panels explored Broward development and foreign investment
    April 24, 2015 12:10PM By Ina Cordle
    The Real Deal Broward Real Estate Forum & Showcase

    The Real Deal Broward Real Estate Forum & Showcase

    From the South Florida website: Against a backdrop of the Design Center of the Americas’ luxury showrooms, more than 2,000 real estate wheelers and dealers mingled at The Real Deal’s Broward Forum and Showcase Thursday afternoon in Dania. [more]

  • Israeli investors sell Hell’s Kitchen apartment hotel for $28M

    U.S. Suite bought 96-unit property from Sam Chang in 2010 for $17.5M
    April 24, 2015 11:39AM By Rich Bockmann
    Sholom Jacobs and 440 West 41st Street

    Sholom Jacobs and 440 West 41st Street

    U.S. Suite, a partnership of Israeli investors, has sold a 13-story Hell’s Kitchen apartment hotel known as Metro Apartments for nearly $28 million, according to property records filed with the city Friday.

    The partnership includes principals from Aura Investments, Livorno Properties and U-Trend.  [more]

  • Cash-out refinances on the rise in the US

    Qualifying for one is much tougher than it was during underwriting years of the boom
    April 24, 2015 11:00AM By Kenneth Harney

    From left: John Schleck and Bob Walters

    Could it be time to cash out some home equity by refinancing your mortgage? For growing numbers of owners, the answer this year is an emphatic yes, at least according to new data from some major lenders.

    In a cash-out refinancing, you convert part of your home equity into money, adding to your mortgage balance. Say you have a $400,000 home with a $200,000 first mortgage. [more]

  • By the numbers: Sizing up NYC’s micro-units

    The Sony Building’s planned $150M penthouse would fit 72 micro-units
    April 24, 2015 10:30AM By Eileen AJ Connelly

    The prefab units of the My Micro NY complex will soon be stacked on East 27th Street, as depicted in this rendering.

    From the April issue: Construction of the 64 modules that will make up Monadnock Development’s “My Micro NY” complex in Kips Bay is in full swing. The micro-unit movement in part reflects rising housing costs, but is also being driven by the increasing number of people living alone. Census data shows at least 21 percent of households are single adults. In New York, more than half of all adults were single as of 2013. This month, TRD sizes up the city’s micro-units. [more]

  • Renderings of 414 West 15th Street in the Meatpacking District (credit: CetraRuddy)

    Cushman & Wakefield buys Chicago commercial firm. Real Housewife Bethenny Frankel picks up $4.2 million Soho pad. A peek at Legacy Group’s Meatpacking District hotel project. Read these stories and more after the jump.

  • Sugar Hill Capital sells Hamilton Heights building for $25.5M

    Mixed-use property contains 47 apartments and eight shops
    April 24, 2015 09:30AM
    3621 Broadway in Hamilton Heights

    3621 Broadway in Hamilton Heights

    Sugar Hill Capital Partners sold a mixed-use property in Hamilton Heights to Brooklyn-based landlord Galil Management, formerly known as E&M Associates, for $25.5 million. [more]