The Real Deal New York

Long Island neighborhood news

  • A backlog of foreclosure cases on Long Island has a number of overstretched borrowers living in fear of break-ins and looting — unpleasant but common occurrences as abandoned, foreclosed homes in towns like Brookhaven, Islip and Hempstead grow in number. [more]

  • The Sandcastle estate in Bridgehampton and Joe Farrell (inset)

    The Sandcastle estate in Bridgehampton and Joe Farrell (inset)

    Hamptons developer Joe Farrell has taken his 12-bedroom Bridgehampton mansion known as the Sandcastle off the market – despite having received an offer that met his $43.5 million asking price. [more]

  • [caption id="attachment_308917" align="aligncenter" width="560"]38 Applegreen Drive 38 Applegreen Drive in Old Westbury[/caption]

    What to do when your tricked out, multi-million dollar Long Island mansion starts to get stale after only two years? Slap it on the market for $14.8 million, of course. See photos and video after the jump.

  • Seth Pinsky

    Seth Pinsky

    With property prices nearing record highs in Manhattan, RXR Realty’s Seth Pinsky is pushing into the suburbs.

    The former head of the city’s Economic Development Corporation joined RXR three months ago and is now the front man on the company’s so-called metropolitan emerging market strategy. In this role, Pinsky will lead the firm’s push into Hempstead, Long Island, where it is eyeing investments in mixed-use projects. [more]

  • Daniel Loeb and 66 Newtown Lane in East Hampton

    Daniel Loeb and 66 Newtown Lane in East Hampton

    The Hamptons has become a viable destination for Wall Street companies such as hedge funds and private equity firms, many of whom cite the impact of the 9/11 attacks and wanting an escape from the hustle and bustle of Manhattan as reasons to set up shop on the East End. [more]

  • From left, John Coltrane and his former Huntington home

    From left: John Coltrane and his former Huntington home

    Musician Carlos Santana hosted a fundraiser in Manhattan on Sunday to help complete restoration of the Huntington, N.Y., home of jazz legend John Coltrane. [more]

  • The Donald mulls buying Plum Island

    October 01, 2013 05:45PM

    Not content with his $2.9 billion worth of commercial and residential real estate, more than $74 million in real estate licensing deals and combined interest in Niketown and 40 Wall Street, the Donald is mulling a purchase of Plum Island, Long Island. [more]

  • From left: Blackstone's Jonathan Gray and Hersha's Jay Shah

    Blackstone’s Jonathan Gray and Hersha’s Jay Shah

    Blackstone Real Estate Advisors, an affiliate of private equity heavyweight Blackstone Group, reached an agreement with real estate investment trust Hersha Hospitality Trust to acquire 16 U.S. hotels for $217 million.

    The portfolio of hotel properties, located primarily in the northeastern U.S., are valued at roughly $125,000 per room in the deal, which is slated to close in the first quarter of 2014. [more]

  • sandcastle

    Sandcastle estate in Bridgehampton (Inset: Joe Farrell)

    Farrell Building, the dominant homebuilder in the Hamptons, is sweeping the region and looking to return it to the big-spending days before the recession. [more]

  • A home theater in a Hamptons house

    A home theater in a Hamptons house

    Home movie theaters have gone from being a rare luxury for houses in the Hamptons to an essential amenity. [more]

  • From left, Bruce Ratner, the Nassau Coliseum

    From left, Bruce Ratner, the Nassau Coliseum

    After winning the bid to revamp and manage the Nassau Coliseum, developer Bruce Ratner unveiled his redevelopment plans for the arena in a news conference on Thursday, according to Newsday. [more]

  • From left: Mikhail Prokhorov and Nassau Coliseum

    From left: Mikhail Prokhorov and Nassau Coliseum

    UPDATED 3:50 p.m., Aug. 15: The development team behind Brooklyn’s Barclays Center — led by Forest City Ratner and Russian billionaire Mikhail Prokhorov — has won the rights to redevelop the 63-acre Nassau Coliseum, Crain’s reported. [more]

  • From left, Bruce Ratner, James Dolan, Nassau Coliseum

    From left: Bruce Ratner, James Dolan, Nassau Coliseum

    The fight between James Dolan and Bruce Ratner for the right to rebuild and run Nassau Coliseum in Long Island is almost at an end, Crain’s reported. [more]

  • From left, HUD Secretary Sean Donovan, damage done to the Jersey Shore by Hurricane Sandy

    From left, HUD Secretary Shaun Donovan, damage done to the Jersey Shore by Hurricane Sandy

    In its competition to help rebuild areas hit hardest by Superstorm Sandy and to protect them from future storms, the U.S. Department of Housing and Urban Development has narrowed the finalists down to 10 architectural teams, Crain’s reported. [more]

  • From left: Canon's Seymour Liebman and Canon's Long Island headquarters

    From left: Canon’s Seymour Liebman and Canon’s Long Island headquarters

    Canon executives are considering setting up research and development on Long Island, sparking hopes among area leaders that the New York City suburbs could become a technology innovation hub a la Silicon Valley, the Wall Street Journal reported. [more]

  • The grandeur of ‘Gatsby’

    August 04, 2013 10:00AM
    Beacon Towers (left), the inspiration for Jay Gatsby’s palatial digs (right)

    From left: Beacon Towers, Gatsby’s home in Baz Luhrmann’s film

    From Luxury Listings NYC: Driving through the iron gates of Sands Point, you can imagine Jay Gatsby—in an ever-so-pale pink suit—strolling the grounds of this Long Island enclave, pining for Daisy Buchanan, swathed in milky pearls amidst a gaggle of gin-soaked jazz fiends. [more]

  • 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]

  • 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]

  • 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]

  • Inset: rendering of a Baccarat Residence kitchen, with high cabinets that cater to European preferences

    Inset: rendering of a Baccarat Residences kitchen, with high cabinets that cater to European preferences

    While New York remains a popular spot for international home buyers, two new reports suggest foreign interest in American properties may be waning, the Wall Street Journal reported. [more]

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