The Real Deal New York

Category: Popular

  • Jungreis Suit

    From left: Aaron Jungreis, Raphael Toledano, 253 East 10th Street, 27 St. Mark’s Place and 66 East 7th Street

    UPDATED, 10:57 p.m., August 27: Say uncle!

    Rosewood Realty Group’s Aaron Jungreis, one of the city’s elite multifamily brokers, is suing his nephew Raphael Toledano, claiming he was squeezed out of a $100 million deal to acquire 16 East Village rental buildings. [more]

  • BCB buy

    From left: 240 West 122nd Street and 222 St. Nicholas Avenue in Harlem (inset: Bennat Berger, Andrew Miller and Steven Vegh)

    BCB Property Management’s Bennat Charatan Berger and Excelsior Equities’ Andrew Miller have teamed up to form a new investment firm, The Real Deal has learned. The company, Novel Property Ventures, burst out of the gate with a Central Harlem multifamily portfolio buy for $35 million. [more]

  • From left: Aby Rosen, Elliot Rabin and

    From left: Aby Rosen, Elliot Rabin and 150 East 72nd Street on the Upper East Side

    UPDATED: Aug. 27, 5:32 p.m.: Upper East Side retailer Elliot Rabin is facing another lawsuit over his much-desired retail space at 150 East 72nd Street.

    Landlord Aby Rosen’s RFR Holdings filed a lawsuit accusing Rabin, the owner of clothing boutique Peter Elliot Blue, of failing to pay $118,000 in rent for the months of April and May. In May, RFR told Rabin he was in rent default, but the bill remains unsettled, according to the lawsuit, which was filed Aug. 25. [more]

  • WeWork

    From left: WeWork co-founders Miguel McKelvey and Adam Neumann (inset: 2009 illustration by Angelo Lopez)

    For service workers’ union SEIU 32BJ, WeWork must have seemed like the ideal target. The shared-office provider, a poster child for Manhattan’s booming tech industry, tries to cultivate a public image as a do-good company creating a better work culture – and yet its contractor allegedly paid janitorial workers a mere $10 per hour.

    Amid declining union membership, what better way to prove organized labor still has a place in the 21st century than by pressuring a leading tech startup to show solidarity? [more]

  • From left: Marc Holliday, Giorgio Armani and 760 Madison Avenue

    From left: Marc Holliday, Giorgio Armani and 760 Madison Avenue

    Tick one for Giorgio Armani in the retailer’s ongoing legal battle with landlord SL Green Realty over its 760 Madison Avenue location in Midtown. [more]

  • TRD-Golf-Outing-2015

    Last week we brought you photos from The Real Deal‘s fifth annual Hamptons golf tournament at the Baiting Hollow Golf Club. Now, for your viewing pleasure, some pictures that move. Check out our video here.

  • JonGrayBlackstoneMainArt

    Can Blackstone’s real estate group, led by Jon Gray (pictured), continue its phenomenal run?

    When General Electric executives phoned Blackstone Group’s Lexington Avenue office in March to propose one of the largest real estate deals in U.S. history, Kenneth Caplan’s first reaction was surprise.

    “We were not expecting the call,” the global chief investment officer of Blackstone’s real estate group said. “They had been selling off parts [of their real estate holdings] and we had bought some smaller portfolios.” He assumed GE would continue to sell piecemeal, if at all. But GE had a very different plan: It wanted to sell its entire $26.5 billion property portfolio at once, and it wanted Blackstone to buy it. [more]

  • An on-site rendering of 400 Times Square in Hell's Kitchen

    An on-site rendering of 400 Times Square in Hell’s Kitchen (credit: NY YIMBY)

    A construction worker died Tuesday afternoon after falling four stories while working at the Friedman Group and Landis Group’s hotel development site at 577 Ninth Avenue in Hell’s Kitchen — also known as 400 West 42nd Street and 400 Times Square.

    Police found the 30-year-old man, whose name was not released, unconscious after he fell at the construction site at around 12:40 p.m. He was transported to Bellevue Hospital where he was pronounced dead. [more]

  • 370 Lexington Avenue in Midtown (inset: Tetsuji Kosaki)

    370 Lexington Avenue in Midtown (inset: Tetsuji Kosaki)

    Japanese real estate investment firm Unizo Holdings is buying Sherwood Equities and JPMorgan Chase’s 370 Lexington Avenue office building in a $247 million deal. [more]

  • 1109 Fifth Avenue

    1009 Fifth Avenue

    From the Luxury Listings NYC website: Space is a premium in Manhattan, but it’s not a problem in these gigantic mansions, which start in size at 18,000 square feet. The most surprising take-away? Four out of the five of the biggest Manhattan mansions on the market right now are on the Upper East Side. Click here to see what makes the list.

  • The New York Stock Exchange and Marc Holliday and Steven Roth (inset)

    The New York Stock Exchange in the Financial District (inset, from left: Marc Holliday and Steven Roth)

    UPDATED, 1:00 p.m., Aug. 25: From commercial brokerages to real estate investment trusts, it was hard to find a publicly-traded real estate firm that didn’t take a beating on one of the most volatile days in the stock market’s history. [more]

  • 550-Washington-Street

    550 Washington Street in Hudson Square

    Westbrook Partners coughed up more than $200 million to take a majority stake in the 1.1 million-square-foot St. John’s Terminal, in a deal that values the property at $650 million. [more]

  • 214 West 21st Street in Chelsea (credit: Airbnb) (inset: Larry Gluck)

    214 West 21st Street in Chelsea (credit: Airbnb) (inset: Larry Gluck)

    Larry Gluck’s Stellar Management is taking legal action against the market-rate tenants of a Chelsea building for allegedly renting out their apartment through Airbnb. [more]

  • Brickman Cigar

    From left: 35-11 9th Street in Long Island City (inset: DeNobili cigar, Bruce Brickman and Evan Daniel)

    Brickman acquired a former DeNobili cigar factory a block from the Long Island City waterfront for $31.1 million, The Real Deal has learned. [more]

  • PamLiebmanRobertReffkinGaryMalin

    From left: Pamela Liebman, Robert Reffkin and Gary Malin

    After trading legal barbs for much of the past year, Compass buried the hatchet with rival firms the Corcoran Group and Citi Habitats, The Real Deal has learned.

    The parties reached a confidential settlement agreement and will dismiss their pending lawsuits, the firms said in a joint statement Monday morning. [more]

  • Rapbhael Toledano

    Raphael Toledano and 444 East 13th Street

    Officials in Albany are looking into complaints that landlord Raphael Toledano tried to strong-arm tenants into leaving their rent-regulated apartments.

    State investigators served subpoenas on Toledano’s Goldmark Property Management as part of a probe into allegations that he and his agents threatened tenants with police raids and eviction, and shut off essential services like gas. [more]

  • Cars in Times Square, the pedestrian plaza and Bill de Blasio

    Cars in Times Square, the pedestrian plaza and Bill de Blasio

    Seemingly no one is onboard with Mayor Bill de Blasio’s proposal to rip up Times Square’s pedestrian plaza to spare prudish tourists from the scourge of topless women and panhandling cartoon characters. [more]

  • A rendering of the parking at 15 Renwick

    A rendering of the parking at 15 Renwick

    With Manhattan land prices growing ever pricier, it shouldn’t be surprising that parking comes at a dizzying premium. But increasingly, developers are asking $1 million or more for a humble parking spot, with at least two new developments in the city asking seven figures for their spots. [more]

  • What is Trinity Real Estate selling?

    August 21, 2015 02:52PM

    From left: Jason Pizer, 1 Hudson Square, 225 Varick (top right) and 205 Hudson

    In 1705, England’s Queen Anne donated 215 acres of prime Manhattan farmland to Trinity Church. In the years since, Trinity sold off a large chunk of those holdings, but still owns a sizable portfolio of prime commercial real estate concentrated in Hudson Square. And it’s now in play.

    Earlier this month, Trinity took bids for a 5 million-square-foot, 11-building portfolio in Hudson Square. Suitors include some of the city’s biggest real estate players such as SL Green Realty and Vornado Realty Trust. Sources familiar with the offering told The Real Deal that Trinity offered a 49 percent stake on 75-year leaseholds for the properties, and said the stake could go for about $3 billion.

    While the bidders await news of the prize, TRD took a look at exactly what’s up for grabs. [more]

  • Map 2

    Map of rent-controlled apartments in New York City (credit: Trulia)

    As New York’s apartment prices skyrocket, rent control has become increasingly important in keeping the city affordable. Mayor de Blasio is a vocal advocate of the system, and just Wednesday defended the Rent Guidelines Board’s decision to freeze rents on one-year leases for stabilized units starting Oct. 12. But the system is also notoriously complicated. Thankfully, listings service Trulia has released a handy chart explaining the many rules keeping New York’s rents in check. [more]