The Real Deal New York

Murray Hill / Gramercy neighborhood news

  • Buying a memorable staycation

    July 28, 2013 12:00PM
    South Down Lakes Region, N.H.

    South Down Lakes Region, N.H.

    From Luxury Listings NYC: If you ask Dan Dicarlo where to find value, the 42-year-old retired Wall Street trader will tell you the Sandy-ravaged Jersey Shore. That’s where he found his second home. [more]

  • Joseph Chetrit and the former Cabrini Medical Center complex

    Joseph Chetrit and the former Cabrini Medical Center complex

    After buying the Cabrini Medical Center on East 19th Street at Second Avenue earlier this year, the Chetrit Group plans to convert the five-building complex into residential units, according to Curbed. [more]

  • IMG grows at 304 Park Avenue South

    July 27, 2013 12:00PM
    304 Park Avenue South

    304 Park Avenue South

    IMG Worldwide will be expanding its lease at 304 Park Avenue South, the New York Observer reported.

    Under the terms of the new lease, the global sports, fashion and media firm will now occupy 72,080 square feet in the building. The lease also grew from its original term of 10 years to 15 years. The company will continue to operate its global headquarters out of the General Motors Building on Fifth Avenue. [more]

  • Christy Romero

    Christy Romero

    A report released by the Treasury Department’s Troubled Asset Relief Program reveals that its mortgage modification program appears to have been helping servicers more than homeowners, the New York Times reported.

    The report, by Christy Romero, the special inspector for TARP, reveals that although more than a third of homeowners who received loan modifications under TARP’s mortgage modification program have since stopped paying, banks and other mortgage servicers kept the money they received for modifying those loans. [more]

  • From left: Leonardo DiCaprio, One Madison Park, Tom Brady, Gisele Bundchen

    From left: Leonardo DiCaprio, One Madison Park, Tom Brady, Gisele Bundchen

    Related’s One Madison Park, where both Leonardo DiCaprio and former gal pal Gisele Bundchen might land, is officially opening a sales office in the building after Labor Day, the New York Post reported. [more]

  • Guy Geier

    Guy Geier

    The largest construction and architecture firms are seeing healthy growth in their employment figures, suggesting a rebound in building activity, Crain’s reported.

    Full-time employment at the top construction companies was up 1.6 percent in 2012, while the number of architects at the largest firms was up 8 percent from a year earlier. Though the job gains at many architecture firms were less than those seen in the first years of the millennium, there are those who insist that ultimately, that is a good thing. [more]

  • 419 Park Avenue South

    419 Park Avenue South

    The 3D-printing firm Shapeways has signed a 10-year, 9,050-square-foot renewal and expansion at 419 Park Avenue South, the New York Observer reported.

    Shapeways moved into the building two years ago and upped its original occupancy by more than 1,000 square feet in December of last year before adding an additional 3,950 square feet in the latest amendment to the lease. [more]

  • 119 West 25th Street

    119 West 25th Street

    Real estate private equity firm Normandy Real Estate Partners has acquired a 135,000-square-foot Flatiron District office building for around $50 million, The Real Deal has learned.

    Normandy, which owns other trophy office assets at 575 Lexington Avenue and 1370 Broadway, partnered with Joel Schreiber’s Waterbridge Capital to purchase the commercial building at 119 West 25th Street, sources said. The two companies plan on redeveloping the property into a Class A office building with a ground-floor retail component, according to a person close to the deal. [more]

  • Charles Cohen and 3 Park Avenue

    Charles Cohen and 3 Park Avenue

    Return Path, a digital analytics company, has signed a 23,280-square-foot lease for the entire 41st floor penthouse at Charles Cohen’s 3 Park Avenue, the New York Observer reported. [more]

  • Interior images taken at the Story House condo

    Interior images taken at the Story House condo

    The Manhattan Skyline-developed boutique Story House condominium has sold out, according to a release from the developers. The top-floor penthouse was the final unit to sell; it traded hands for $4.3 million. [more]

  • Steve Witkoff and 10 Madison Square West

    Steve Witkoff and 10 Madison Square West

    The Witkoff Group will shell out $300 million on its 10 Madison Square West condominium conversion project, the New York Times reported.

    The developer paid $190 million at auction in 2011 for the 16-story 380,000-square-foot building at 1107 Broadway that was once part of the International Toy Center, CEO Steven Witkoff told the Times. The property will be converted into 125 luxury condominiums. [more]

  • From left: Sam Nazarian, 47 East 30th Street and Tamir Daniel

    Hotel mogul Sam Nazarian and Moin Development’s David Moinian have purchased a pet hospital next to their 444 Park Avenue South hotel conversion project, according to a release from Daniel T Enterprises, a commercial real estate firm that brokered the deal. The duo paid $4 million for the 4,200-square-foot property, located at 47 East 30th Street, which will be an addition to their hotel, the release said. [more]

  • 314 East 19th Street

    On the hunt for cheap housing in the city? You might have to convert. It’s possible to rent a room inside a Gramercy Park home for under $500 monthly, but with one caveat — you need to be a Mennonite, or at least know one.

    The home — dubbed Menno House — is located at 314 East 19th Street off Second Avenue. The mortgage is paid, and rent, which for some is as low as $460 per month, is used for upkeep. The average monthly rent in the neighborhood is $3,600, according to StreetEasy. [more]

  • Steve Witkoff and 10 Madison Square West

    The first rendering of 10 Madison Square West, the condominium development planned for a portion of the Toy Building in the Flatiron District, has been revealed, Curbed reported. The reveal comes about a month after the new development launched a teaser website and posted building signage.

    The 125-unit condo, which has a mix of one- to five-bedroom units, anticipates an official sales launch late this spring, as previously reported. [more]

  • From left: An exterior rendering of Huys and a unit rendering

    Welkom! The Dutch-inspired Huys condominium in Kips Bay has released its first listings, including a 602-square-foot studio unit for $1.1 million and a 1,564-square-foot two-bedroom home for $3.7 million. Curbed spotted the listings on Streeteasy.com. [more]

  • [caption id="attachment_220905" align="alignright" width="141"] O. Aldon James[/caption]

    Former National Arts Club President O. Aldon James, his twin brother John James, both 65, and former club member Steven Leitner, 81, filed a petition today in New York State Supreme Court seeking to block a February decision by the club to expel them. If the three men are expelled, they would no longer be permitted to live in their below-market rate apartments in the building located at 15 Gramercy Park South, between Park Avenue South and Third Avenue. The new filing names the club, its board of governors as well as seven individual officers and governors of the club as respondents. … [more]

  • From left: Evan Stein of J.D. Carlisle and Kips Bay Plaza

    J.D. Carlisle Development Corp. has pressured the local community board into withdrawing support for a farmers’ market that operates in front of Kips Bay Plaza on Sundays, DNAinfo reported. The developer has made deals with retailers, such as Fairway and Staples, for space at the retail complex. [more]

  • Eastgate Tower Hotel

    Manhattan-based real estate investment firm Atlas Capital Group has acquired the Eastgate Tower Hotel, a 187-key property at 224 East 39th Street, from a Rhode Island-based hospitality company. The deal for the Murray Hill property closed November 8, according to public records filed with the city today. The closing price was $69 million.

    Atlas plans on converting the 147,000-square-foot property into a 190-unit luxury rental building, according to its website. The building features an 86-space parking garage. [more]

  • Woody Heller and the Madison Belvedere

    The Madison Belvedere, a rental property located at 10 East 29th Street between Madison and Fifth avenues, has sold for $300 million, sources told the New York Post.

    The property, owned by Rose Associates, was marketed by the Studley team of Woody Heller, Will Silverman, Eric Negrin and Daniel Parker. Invesco purchased the building on behalf of a client. [more]

  • The 38th Street property

    ‘Tis the season for a gingerbread house to hit the market, and the owners of the closest thing in New York City have not disappointed. The George S. Bowdoin Stable, a landmarked carriage house at 149 East 38th Street has come back on the market in time for the holidays, asking $8.25 million.

    The home, which has been on the market several times since last year, is listed by Joel Weinberg of DTZ. The asking price represents a more than $5 million discount off the property’s original asking price of $13.99 million. It was first listed by Mobius Realty in 2011 and then by Sotheby’s International Realty earlier this year. The property was last taken off the market in July, asking $9.3 million. [more]

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