The Real Deal New York

Amanda Burden and Madison Square Garden

Madison Square Garden may get a new lease on life from the Bloomberg administration – a permanent one.

The City Planning Commission will on Wednesday consider a proposal from commissioner Amanda Burden that could effectively turn a 15-year extension of MSG’s lease  into one with no expiration date, Capital New York reported. The proposal contains a loophole that allows MSG to remain atop Penn Station in perpetuity, if it comes to an agreement with the three railroads beneath it to make infrastructure improvements. [more]

Michael Shvo and the High Line

Michael Shvo, one of the highest-flying Manhattan brokers during the real estate boom who then disappeared from the market, is making a comeback as a developer, the Wall Street Journal reported.

Shvo, with developer Victor Homes, beat out competitors to acquire 239 10th Avenue, a gas station site at 10th Avenue and West 24th Street overlooking the High Line.The property was listed for $18.95 million, but the partnership ended up paying $23.5 million – or a record-setting $800 per buildable square foot – Victor’s Ran Korolik, told the Journal. The partnership is also in talks to secure additional air rights, he added. [more]

Marissa Mayer and the former New York Times building at 229 West 43rd Street

Hot on the heels of its $1.1 billion acquisition of blogging platform Tumblr, tech giant Yahoo announced that it would open new offices in the former New York Times building, the New York Times reported. The move is part of Yahoo’s push to expand their New York City presence by 60 percent. [more]

An abandoned building at Ellis Island (image courtesy of Kingston Lounge)

Public review process for Staten Island ferris wheel begins. What’s with our obsession for tiny dwellings?: VIDEO Elvis’ Graceland mansion on the market. Barclays Center among Brooklyn Chamber of Commerce’s building honorees. Inside an abandoned Ellis Island building. Read these stories and more after the jump.

Top stories yesterday on The Real Deal:
1. TRD’s updates from ICSC: Live blog 
2. Aby Rosen celebrates birthday at Paramount Hotel 
3. New ACRIS will include co-op unit searches, more data 

TRD will be covering all the highlights of this year’s ICSC RECon event in Las Vegas

Watch this space for live updates from the 2013 International Council of Shopping Centers’ RECon event in Las Vegas, on now through Wednesday. [more]

Vickey Barron

Vickey Barron, a top broker and managing director at Core, has boomeranged back to Douglas Elliman, The Real Deal has learned. The former Elliman agent, who departed for Core two years ago citing a less competitive work environment, has returned to the fold, representatives for both companies confirmed today.

Barron joined Elliman in 2000 and spent 11 years there, earning a berth as one of the brokerage’s top producers. Barron won the Real Estate Board of New York’s Rookie of the Year award in 2001. [more]

280 Bond Street (Credit: PropertyShark)

UPDATED, 9:10 p.m. May 20: A group of Carroll Gardens and Gowanus, Brooklyn residents are up in arms over the proposed renovation of 280 Bond Street, a warehouse, into the Rock & Roll Playhouse, Pardon Me For Asking reported. The group issued a petition to Community Board 6 to halt the development.

Peter Shapiro, who’s also behind music venue Brooklyn Bowl, seeks to renovate the warehouse into the facility. The proposed venue, at Degraw Street, will abut several residential properties. [more]

From left: Madison’s Josh Zegen and 143-159 Classon Avenue

A New Jersey-based investor is slated to bring a 37-unit condominium development to the Clinton Hill area of Brooklyn after buying a nearly complete property out of bankruptcy, The Real Deal has learned.

Commercial real estate investment firm Madison Realty Capital is providing $13 million in financing for the New Jersey buyer’s purchase of a defaulted note on a property at 143-159 Classon Avenue, which was previously held by Community Preservation Corporation and had an outstanding balance of around $17 million, Madison co-founder Josh Zegen told The Real Deal today at the International Council of Shopping Centers’ annual RECon retail conference. [more]

A water tower in Chelsea (Credit: Night Heron Speakeasy)

RWN Real Estate Partners paying $3.8 million for 328 Bowery condo. Speakeasy in Chelsea water tower is far from underground. Seagate Beach Club in Coney Island to open in summer. High Line painting elevates dining experience at Colicchio & Sons in Chelsea “Improvements” to Penn Station would be hardly that: OPINION. Read these stories and more after the jump.