The Real Deal New York

Posts Tagged ‘bellmarc’

  • Anthony DeGrotta, president of Coldwell Banker  AC Lawrence; Neil Binder, president of Coldwell Banker  the Bellmarc Group; and Larry Friedman, president  of Coldwell Banker Bellmarc.

    From left: Anthony DeGrotta, president of Coldwell Banker AC Lawrence; Neil Binder, president of Coldwell Banker the Bellmarc Group; and Larry Friedman, president of Coldwell Banker Bellmarc.

    From the September issue: After 34 years of private ownership, Manhattan residential brokerage the Bellmarc Group this summer announced that it would become a franchise of the massive Coldwell Banker. While the brand has locations across the U.S. and in 51 countries, Manhattan had been without a Coldwell Banker franchise since 2009, when Coldwell Banker Hunt Kennedy shuttered in the midst of the real estate downturn. [more]

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    Cond-op at 221 West 82nd Street (Inset: Tom Vaughan)

    “What Happens in Vegas” director Tom Vaughan and his wife have put their Upper West Side cond-op on the market for $2.375 million. [more]

  • Neil Binder and Midtown East

    Neil Binder and Midtown East

    Bellmarc Realty’s rental arm, AC Lawrence Real Estate, is opening an office next month near the Midtown East neighborhood, firm head Neil Binder told The Real Deal. [more]

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  • Coldwell-Bellmarc-New-Pic

    From left: Larry Friedman, Budge Huskey, Neil Binder and Anthony DeGrotta

    A major shift is in the works for one of Manhattan’s largest residential brokerages. The Bellmarc Group will become a franchise of Coldwell Banker, the international firm that is part of the publicly traded Realogy real estate conglomerate, company officials told The Real Deal[more]

  • A mosaic wall at Bellmarc’s Chelsea office

    From the May issue: The Bellmarc Group is replacing its longtime Upper West Side location at 81st Street and Columbus Avenue with two larger outposts, one in the 70s and one in Morningside Heights, The Real Deal has learned. [more]

  • From the April issue: So long, mortgage contingency. With lack of inventory creating conditions reminiscent of the real estate boom, many buyers are waiving the clause in a purchase contract that protects their down payment if they can’t get a mortgage.

    But with banks skittish about home loans, that decision is much riskier than it was in the mid-2000s, brokers said. [more]

  • From left: Vanessa Gad, Rolan Sereny and Neil Binder

    Residential real estate brokerages often boast about the breadth and quantity of their offices, as well as the number of agents who work full-time on-site. But recently, several firms have gone the virtual route, forgoing physical offices in an effort to shave down operating costs and retain agents with higher commissions in an increasingly competitive environment, brokerage owners told The Real Deal. [more]

  • A mosaic wall at Bellmarc’s new Chelsea office

    From the December issue (UPDATED): In need of more space after acquiring A.C. Lawrence, the Bellmarc Group will open a new office at 48 West 22nd Street in Chelsea this month, firm head Neil Binder told The Real Deal. Bellmarc Group, the parent company of Bellmarc Realty, absorbed fellow brokerage A.C. Lawrence in October. The merged company now has a total of 400 agents in its five offices. Especially crowded is Bellmarc Realty’s office at 936 Broadway, which now has 150 agents crammed into it, Binder said. Roughly 45 agents will move from there to the new, 2,500-square-foot storefront space. [more]

  • From left: Jerry Weinstein, Larry Friedman

    Manhattan Apartments — the rental brokerage that has been on a long, public slog through financial troubles and litigation in the years since the recession began — has ceased operations, The Real Deal has learned. The firm’s remaining agents have the option to join rental rival AC Lawrence, a division of the Bellmarc Group, which will take Manhattan Apartments’ 11,000-square-foot space at 729 Seventh Avenue in the Times Square area. [more]

  • Bellmarc acquires A.C. Lawrence

    November 09, 2012 09:30AM

    Neil Binder

    Bellmarc Companies, the parent company of Bellmarc Realty, one of Manhattan’s largest residential brokerages, has absorbed residential and commercial real estate brokerage A.C. Lawrence Real Estate, The Real Deal has learned. The consolidated company, which will be known as the Bellmarc Group, will have about 400 agents, a spokesperson for the new firm said.

    Bellmarc owner Neil Binder said he had been looking for opportunities to sell some of his former partner Marc Broxmeyer’s interest in the firm since Broxmeyer’s retirement a few years ago. “I tried to sell his interests but was not satisfied with the options, so I decided to find a company that would complement us,” and then acquire it, with some interest in Bellmarc given “as consideration,” Binder said. [more]

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  • Neil Binder, center, and his just-sold UES townhouse

    Bellmarc Realty President Neil Binder has sold his 16-foot-wide glass townhouse on the Upper East Side for $6.5 million, according to public records filed yesterday with the city. The residence is located at 250 East 68th Street.

    The real estate executive, who bought the house for $3.7 million in 2005, first listed the home for sale in February 2011 for $9.5 million. The asking price later dropped to $6.5 million. The property was listed by Lisa Strobing of Bellmarc. [more]

  • From left: Neil Binder and 1178 Lexington Avenue (credit: PropertyShark)

    Bellmarc Realty plans to close its second-floor Madison Avenue location in favor of a new storefront on Lexington Avenue scheduled to open at the end of May, firm co-founder Neil Binder told The Real Deal. The 3,000-square-foot office, under construction at 1178 Lexington Avenue on the corner of 81st Street, will have space for 60 agents, who will move from the shuttering location at 1051 Madison Avenue, Binder said. [more]

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  • Raveis-Bellmarc deal scuttled

    May 10, 2011 01:38PM
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    From left: Neil Binder, president of Bellmarc, and Chris Raveis, managing partner of William Raveis

    The planned purchase of a large stake in Bellmarc Realty by William Raveis Real Estate, which would have been one of the larger real-estate acquisitions in recent memory, is dead.

    Neil Binder, Bellmarc’s president, confirmed today to The Real Deal that during negotiations in recent weeks the two sides could not bridge their differences about how a brokerage should be run.

    “As we continued to progress on trying to create a framework for marriage, it appeared to both sides that we had different business models,” Binder said, without elaborating about whether the disagreement was over price or how the combined company might function on a day-to-day basis. … [more]

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    Bellmarc CEO Neil Binder and William Raveis’ Westchester office

    Bellmarc Realty is close to being acquired by Connecticut-based William Raveis Real Estate, sources tell Crain’s. As The Real Deal previously reported in a profile of the firm in the April issue, William Raveis has sought to enter the Manhattan market ever since expanding to Westchester in July 2009. The Real Deal ranked William Raveis the 10th largest firm in Westchester on the strength of its 80 agents and 98 residential listings averaging more than $1 million in value. … [more]

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    Two photos on left are of 250 East 68th Street, other two property shots are 124 DeKalb Avenue in Fort Greene, and Spike Lee

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    A former firehouse at 124 DeKalb Avenue in Fort Greene housed Spike Lee’s production company for years — until a dispute with the landlord got in the way. Now that Lee’s Forty Acres & a Mule Filmworks has relocated around the corner, fans of the famous filmmaker can purchase the DeKalb Avenue building for a cool $3.9 million. Also, Neil Binder, co-founder of Manhattan real estate brokerage Bellmarc, has placed his newly constructed five-story glass and stucco townhouse on the market for $9.5 million. The 17-foot-wide house, located at 250 East 68th Street between Second and Third avenues, is listed with Lisa Strobing, an executive vice president at Bellmarc. Click here for more.


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    From left: REBNY President Steven Spinola, Rep. Anthony Weiner, Warburg President Frederick Peters, Elaine Mayers of Citi Habitats and Stacey Max of Bellmarc Realty

    Tuesday’s approval of an amendment to a proposed Federal Housing Finance Agency ruling dealing with flip taxes could keep lenders from abandoning the New York City residential market in the future, according to industry experts.

    The amendment pared down an earlier FHFA provision, announced in fall 2010, which would have barred government-sponsored Fannie Mae and Freddie Mac from lending in all multi-family buildings in which a flip tax is written into the contract. In its original form, the proposal could have adversely affected roughly 50 percent of the New York City residential stock, according to Real Estate Board of New York President Steven Spinola.

    The amendment was passed as part of a larger proposal that is still winding its way through the approval process. … [more]

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    From left: images from inside the home at 180 East 93rd Street and a rendering of the building

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    A never-been-lived-in apartment at new condominium 180 East 93rd Street is for rent at $23,000, after being purchased by Parisian investors. The third-floor apartment had been on the market for $4.85 million, and closed just before the New Year for an undisclosed price, according to listing broker Ginger Brokaw of the Corcoran Group. The owners are French investors who purchase high-end properties in New York City, then rent them, said Brokaw, who represented the buyers in the transaction. They look for unique properties with stand-out features, she said: homes that are “really interesting — nothing normal.” Meanwhile, a uniquely designed penthouse at Greenwich Village co-op 552 LaGuardia Place just hit the market for $8.75 million. According to the listing, with Brown Harris Stevens’ Paula Del Nunzio, the apartment has four levels, five bedroom and four baths. Click here for more.


  • Real estate pros hit the black;

    November 06, 2010 05:00PM

    To make it in real estate, one must possess a few key qualities: endurance, persistence and the ability to go the distance. With that in mind, it’s no surprise that some real estate’s stars will be pounding the pavement this Sunday in the ING New York City Marathon. The annual event, which tests runners’ endurance as they jog 26.2 miles across the five boroughs, will welcome several of the city’s toughest and strongest real estate experts this year. Click here to see who hopes to cross the finish line.

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    Gordon Golub, director of rentals at Citi Haitats

    Gordon Golub, executive vice president and director of rentals at Citi Habitats, is making his New York City marathon debut this year. Golub is running in honor of his assistant Liesel Ashby’s late grandson, Kyle, who lived with hydrocephalus and cerebral palsy and died earlier this year at the age of eight. The marathon is significant to Golub in other ways, as well. “I never thought I would run a marathon, but I made a commitment with my good friend that we would run the New York Ccity Marathon together to celebrate our 40th birthdays — a ‘bucket list’ sort of thing,” Golub said, referring to his choice to run the race. Golub has raised $4,000 for his chosen charity, Team for Kids, for whom he is running this Sunday. Luckily he can count on his Citi Habitats team cheering him on during the race. The firm has planned a “Citi Habitats cheering station” on the corner of 84th … [more]


  • From left: Howard Lorber chairman of Prudential Douglas Elliman, Neil Binder, co-founder and principal at Bellmarc Companies, and John Janangelo, president of Bellmarc Property Management

    Update (6:50 pm): Comments from Lorber and Binder added

    Update (6:50 pm): Byline added

    Douglas Elliman Property Management has acquired Bellmarc Property Management’s residential portfolio, the firms announced. In the deal, Elliman will assume management of 50 buildings, including 15 East 69th Street, 870 Fifth Avenue and CitySpire Center. “We are excited about the transition of this aspect of our business to Douglas Elliman Property Management, as it is a win-win for both companies,” said Neil Binder, principal of Bellmarc Property Management, an arm of Bellmarc Companies. “Douglas Elliman Property Management will be able to build on its impressive exiting portfolio of properties and Bellmarc will focus on enhancing its core business of residential brokerage.” Elliman boasts that it is Manhattan’s largest residential property manager. With the 50 additional buildings, Elliman’s portfolio will grow to 300 buildings. Douglas Elliman Property Management falls under the umbrella of Prudential Douglas Elliman Real Estate. [more]


  • 30 Lincoln Plaza and Howard Milstein

    A group of tenants at Milstein family condominium conversion 30 Lincoln Plaza has filed a lawsuit against the sponsor and the attorney general, claiming a “fire sale” of units in the building resulted in an “egregious miscarriage of justice” against tenants. Facing a December 2008 deadline for the offering plan to be declared effective, Milstein slashed prices for non-tenants, selling units for 40 to 60 percent less than the prices tenants had paid, according to the suit, filed Dec. 21 in New York State Supreme Court. The suit, which reveals the “vastly reduced prices” of units in the building (see accompanying chart after the jump), offers a glimpse into the challenges faced by developers after the financial crisis of 2008. The suit claims that the condo offering plan “unlawfully discriminated” against tenants and failed to adequately disclose certain material risk factors, and that declaring the plan effective was “erroneous” and “an abuse of the attorney general’s discretion.” In the suit, tenants asked that the attorney general rescind the approval of the amendment that declared the plan effective. The suit was filed by tenants Vera Salnikova and Scott Petepiece, and an unspecified number of members of the 30 Lincoln Plaza Ad Hoc Tenants Committee. … [more]


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