The Real Deal New York

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  • Herbert

    From left: LendingHome’s co-founders Matt Humphrey and James Herbert

    LendingHome may be the biggest real estate tech startup most New Yorkers have never heard of.

    The mortgage-lending marketplace, founded in 2013, has raised $109.3 million in venture funding from firms like Renren – placing it among the real estate industry’s richest startups. That fact alone should make LendingHome the talk of the town. So why isn’t it?

    One likely reason is that the San Francisco-based firm only just launched in New York, on July 16, and hasn’t financed any deals here to-date. But it’s also perhaps because of its focus: while other real estate startups are developing 3D technologies and cloud computing solutions for the Big Apple’s biggest landlords, LendingHome focuses on financing what is arguably the least flashy asset class in real estate: non-owner-occupied, single-family properties. [more]

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  • Lawrence and Marilyn Friedland and their home in Southampton

    Lawrence and Marilyn Friedland and their home in Southampton

    A $9.2 million Southampton mansion owned by real estate investors Lawrence and Marilyn Friedland went up in flames Saturday. [more]

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  • How Donald Trump spends his billions

    July 26, 2015 10:00AM

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    To prove that his net worth is more than double the $4 billion figure touted by Forbes, Republican presidential candidate Donald Trump recently submitted a 92-page personal-financial-disclosure report to the Federal Election Commission.

    The report — alleging that his net worth is in excess of $10 billion — was made public after a June document released by the real estate magnate’s campaign described his net worth as being approximately $8.7 billion. One thing is for certain, though: regardless of how many billions Trump has, he knows how to spread his fortune around. [more]

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  • A waterslide from a previous event

    A waterslide from a previous event

    All right, it’s more of a giant slip ‘n slide than a waterslide proper, but the summer novelty is guaranteed to attract crowds. [more]

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  • Thor Caiola

    From left: Joseph Sitt, 250 West 19th Street in Chelsea and Jonathan Gray

    Joseph Sitt’s Thor Equities backed out of a “soft contract” to buy the Caiola family’s 25-building rental portfolio, the same properties which Blackstone Group is now in hard contract to buy for nearly $700 million, The Real Deal has learned. [more]

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  • Time Warner Center at 25 Columbus Circle (inset: Andrey Vavilov)

    Time Warner Center at 25 Columbus Circle (inset: Andrey Vavilov)

    The city’s bid to crackdown on shell companies used to purchase luxury properties hasn’t lifted the “veil of secrecy” yet – a 78th-floor Time Warner Center penthouse sold for $51 million late last month to an unnamed buyer, according to property records filed with the city Friday. [more]

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  • 229 West 43rd Street near Times Square (inset: Blackstone Group global head of real estate Jonathan Gray)

    229 West 43rd Street near Times Square (inset: Blackstone Group global head of real estate Jonathan Gray)

    Blackstone Group sold the office portion of the former New York Times building for $516 million to Columbia Property Trust, just four years after purchasing it for $160 million. [more]

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  • Marc Holliday and 11 Madison Avenue

    Marc Holliday and 11 Madison Avenue

    SL Green Realty’s $2.6 billion purchase of 11 Madison Avenue dominated the real estate investment trust’s second quarter earnings call Thursday, with CEO Marc Holliday describing the property as a “serious, serious office building” that will allow the company to capitalize on high market rents in Midtown South.

    The REIT’s acquisition of the 2.3 million-square-foot property from the Sapir Organization and CIM Group is expected to close in August and made waves as one of the largest real estate deals in the city’s history. [more]

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  • Where in the world is Kyle Blackmon?

    July 23, 2015 01:14PM
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    Kyle Blackmon

    Fueled by a steady diet of eight-figure deals, Kyle Blackmon has enjoyed a reputation as one of the city’s elite luxury brokers for years. The record-setting $88 million penthouse at 15 Central Park West? That was Blackmon. A $70 million pad at 50 Central Park South? Blackmon again. A $62 million deal, again at 15 Central Park West? You got it.

    But Blackmon’s business has been decidedly quiet of late, with far more modest listings that have spent quite a while sitting on the market. [more]

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  • Most adult entertainment businesses in New York City are not allowed garish signage

    Most adult entertainment businesses in New York City are not allowed garish signage.

    A living, breathing document indeed it is.

    Citing freedom of speech and conduct guaranteed by the U.S. Constitution, a New York appeals court struck down Tuesday the city’s attempt to justify rules that would more broadly define “adult establishment” and make it harder for adult bookstores and gentlemen’s clubs to ply their trades in certain areas. [more]

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  • 545 Sackett Street in Gowanus and Ofer Cohen

    545 Sackett Street in Gowanus and Ofer Cohen

    A 42,000-square-foot warehouse in Gowanus is hitting the market for the first time in more than four decades. [more]

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  • Jonathan Gray and 250 West 19th Street in Chelsea

    Blackstone global head of real estate Jonathan Gray and 250 West 19th Street in Chelsea (Credit: PropertyShark)

    In one of its biggest New York City residential deals yet, the Blackstone Group is buying 25 Manhattan apartment buildings from the Caiola family for $700 million.

    The buildings include around 1,000 apartments and are clustered in Chelsea and on the Upper East Side. Blackstone’s minority partner on the deal is Fairstead Capital, Bloomberg reported, referring to an unnamed source. [more]

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  • From left: Ralph Herzka and Donald Trump

    From left: Ralph Herzka and Donald Trump

    While others can’t seem to put enough distance between themselves and firebrand presidential candidate Donald Trump, the head of one of New York City’s busiest mortgage brokerages is one of the brash billionaire’s few campaign donors. [more]

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  • Jeff Blau and 1865 Burnett

    Jeff Blau and 1865 Burnett Street in Marine Park

    Related Companies continues to flex its muscles in the outer boroughs — it’s purchased a trio of multifamily buildings in Brooklyn’s Marine Park neighborhood for $32.2 million, according to property records filed with the city Wednesday.

    The complex – at 3001 Avenue R, 3004 Avenue R and 1865 Burnett Street – houses two-story buildings containing 144 residential units across almost 107,000 square feet of space. [more]

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  • From left: The Waldorf-Astoria and 717 Fifth Avenue (inset: Chinese flag)

    From left: The Waldorf-Astoria and 717 Fifth Avenue (inset: Chinese flag)

    Over the past four years, outbound commercial real estate investment from China has increased 72 percent to $10 billion in 2014, with cities in the United States, United Kingdom and Australia reaping the most benefits, according to a new report by CBRE. [more]

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  • From left: 1 Hanson Place, Josh Zegen, and rendering of 71 Fourth Avenue

    From left: 1 Hanson Place, Josh Zegen, and rendering of 71 Fourth Avenue

    From Fairfield Properties’ $18.5 million purchase in Queens to Savitar Realty Advisor’ $13.3 million buy in the East Village, we recap last week’s activity in the New York City’s investment sales market for properties between $10 million and $20 million.

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  • Young Donald Trump and the Jacob K. Javits Convention Center on the West Side

    Young Donald Trump and the Jacob K. Javits Convention Center on the West Side

    Donald Trump has dominated headlines as the Republican party’s most reckless and entertaining 2016 presidential candidate. But even in 1979, the public was sufficiently interested in his persona to justify a three part series in the Village Voice, which the newspaper is republishing now.

    The series documents Trump’s apparent leveraging of powerful family connections to the mayor and the governor to secure development rights to build the Jacob K. Javits Convention Center. [more]

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  • 253-261

    257-261 Third Avenue in Gramercy Park (inset: Kevin Maloney and Michael Namer)

    Alfa Development is in contract to buy a four-building Gramercy Park development site from Kevin Maloney’s Property Markets Group and Kasra Sanandaji’s Apex Investments for $69.6 million, The Real Deal has learned. [more]

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  • From left: 110 Greene Street, 187 Broadway and Marc Holliday

    From left: 110 Greene Street, 187 Broadway and Marc Holliday

    Despite being downgraded by Goldman Sachs last week and news it would sell off $1.1 billion to cover the cost of 11 Madison, SL Green Realty is still hungry for more buys. [more]

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  • From left: Jacques Jiha and the Time Warner Center

    From left: Jacques Jiha and the Time Warner Center

    Thanks to new disclosure requirements by the city, anonymously buying luxury property through shell companies is going to be a much trickier endeavor. [more]

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