The Real Deal New York

Posts Tagged ‘laurence gluck’

  • Laurence Gluck and 252 West 76th Street

    Laurence Gluck and 252 West 76th Street

    Laurence Gluck bought a 50 percent interest in the corporation that owns two Upper West Side rental buildings on West 76th Street, a source familiar with the transaction told The Real Deal. The deal for 250 West 76th Street — a four-story, 4,868-square-foot building, and 252 West 76th, an 11-story, 50,600-square foot building — closed during the fourth quarter of last year. [more]

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  • Stephen Meister and the Cornell Club at 6 East 44th Street

    Stephen Meister and the Cornell Club at 6 East 44th Street

    New York City’s archaic rent-stabilization and rent-control laws — along with aggressive creation of historic districts and property-taxes that favor ownership — are to blame for the city’s housing shortage and exorbitant rents, according to noted real estate attorney Stephen Meister. [more]

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  • stellar-gluck

    Riverton Houses at 2156 Madison Avenue and Laurence Gluck

    Stellar Management founder Laurence Gluck is in talks to buy out his longtime investment partner in several New York City properties, Robert Rosania, according to Crain’s.

    Stellar principal Rosania sued Gluck late last year, claiming that Gluck withheld financial records and unjustly enriched himself through a company the two owned together, called Stellar Aries Investor. Rosania sought compensatory damages in the suit. But the duo is now attempting a cordial split, Crain’s said. [more]

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  • gaia

    Gaia’s Danny Fishman and 5 West 91st Street

    Gaia Real Estate Investment and Harel Insurance Investments & Financial Services have sold Gaia by the Park, a six-story rental apartment building at 5 West 91st Street on the Upper West Side, for $27.15 million, the sellers told The Real Deal. [more]

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  • gluck-stellar-lawsuit

    From left: Laurence Gluck, 161 Sixth Avenue, 233 Spring Street and Steven J. Cohen

    Stellar Management’s plans to combine two Soho office buildings into one sizable tower have hit a roadblock: A tenant that occupies space in both properties has sued the landlord to stop the project. [more]

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  • From left: Jared Kushner, Two Rector Street and Laurence Gluck

    From left: Jared Kushner, Two Rector Street and Laurence Gluck

    A partnership between the Kushner Companies and CIM Group has paid $140 million to Stellar Management’s Laurence Gluck and Savanna Real Estate Fund for a Lower Manhattan office tower at 2 Rector Street, the New York Post reported.

    Located on the southeastern side of the World Trade Center between Trinity and Greenwich Streets, the 465,000-square-foot, 26-story tower sold for $300 per square foot. [more]

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  • Stellar’s Laurence Gluck and 450 West 15th Street

    Stellar Management chief Laurence Gluck is preparing to sell the Milk Buidling, a 281,000-square-foot office property bordering the High Line, he said tonight.

    Gluck, one of the city’s most renowned landlords, has enlisted the help of commercial brokers Doug Harmon and Adam Spies of Eastdil Secured to sell the property, which will likely come to market next year. Sources told The Real Deal that the building, at 450 West 15th Street, could trade for up to $300 million. Gluck revealed the news while on a panel at the Young Jewish Professionals real estate summit at Cooper Union. [more]

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  • 27 West 72nd Street

    You can be sure this real estate gem didn’t come from a pawn shop.

    Brent Montgomery, creator of the popular reality TV show “Pawn Stars,” paid $6.9 million for a duplex penthouse at the Olcott condominium on the Upper West Side, according to records filed with the city today.

    Montgomery runs Leftfield Pictures, the New York-based production company behind such reality shows as ABC’s “Ball Boys” about a Baltimore-area sports memorabilia shop, the Science Channel’s “Oddities,” set in an East Village antique shop, and the self-explanatory “Monster In-Laws” on A&E. [more]

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  • From left: 111 Kent Avenue and Laurence Gluck, founder of Stellar Management

    [Updated at 3:20 p.m. with comment from Studley, Real Capital] Laurence Gluck’s Stellar Management and Largo Investments have sold 111 Kent Avenue, a 62-unit luxury rental building in Williamsburg, for just under $56 million, one year after the firm purchased the stalled project, sources told The Real Deal. [more]

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  • From left: Laurence Gluck and 233 Spring Street and 161 Sixth Avenue

    Stellar Management President Larry Gluck closed on his purchase of two industrial office buildings in Soho and plans to combine the structures into a single tower, according to the New York Post. Gluck paid $200 million for the 16-story, 320,000-square-foot office building at 161 Sixth Avenue and the 10-story, 250,000-square-foot property at 233 Spring Street, both of which are off the corner of Sixth Avenue and Spring Street. [more]

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  • Laurence Gluck, president of Stellar, and 49 Crown Street (credit: PropertyShark)

    The former owner of a large Crown Heights rental apartment building called Tivoli Towers claims that office and residential landlord Laurence Gluck and two of his companies which bought the property in 2010, allegedly owe it $400,000 in connection with that transaction.

    Donald Lentnek, who sold the 33-story Tivoli to Stellar for $9.5 million, filed the lawsuit this afternoon against Gluck, and two companies (Tivoli Stock LLC and Tivoli B.I. LLC) on behalf of himself; the estate of his late mother Betty Lentnek; and their company Tivoli Associates, seeking what Lentnek says were past due rents owed by tenants at the time of the sale. [more]

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  • Gluck’s tenants accused of fraud

    April 12, 2012 11:00AM

    From left: Independence Plaza and Antonio Fermin

    The New York City Department of Investigation’s peek into the goings on at once Mitchell-Lama regulated Independence Plaza in Tribeca have revealed more alleged crimes, DNAinfo reported. Antonio Fermin, a noted pianist and former teacher at the Juilliard School, was arrested Tuesday for hiding his Sagaponack, N.Y. home, valued at $1 million, from the city in order to receive Section 8 rent subsidies for a two-bedroom apartment at Independence Plaza. [more]

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  • From left: Laurence Gluck and Independence Plaza

    Developer Laurence Gluck is on somewhat of a winning streak. Just 11 months after a federal judge ruled the developer did not illegally deregulate apartments at his 1,328-unit Tribeca complex Independence Plaza, at 80 North Moore Street, a state Appellate Court has followed suit, reversing an earlier ruling to the contrary, The Real Deal learned today. [more]

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  • Stellar's Laurence Gluck and 111 Kent

    Laurence Gluck’s Stellar Management has put 111 Kent Avenue, a 62-unit luxury rental property in Williamsburg, on the market, just one year after it purchased the stalled project from Garrison Investment Group for $24.6 million, Crain’s reported.

    Stellar, which partnered with Largo Investments in last year’s acquisition, said it had always intended to sell the building at some point; It has retained Studley to market the property. [more]

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  • From left: Stellar Management's Laurence Gluck, Meyer and Joseph Chetrit, and Columbus Square

    [Updated at 5:19 p.m. with comment from Laurence Gluck, president of Stellar] Colorado-based multi-family landlord UDR partnered with MetLife to purchase the newly developed, five-tower apartment complex Columbus Square for $630 million, UDR said in a statement this afternoon.

    The seller was a partnership of Laurence Gluck’s Stellar Management and the Chetrit Group.  Stellar and Chetrit did not immediately respond to a call for comment. [more]

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  • alternate<br /></a>text
    Jewish Home Lifecare’s West 106th Street campus
    One of the most ambitious new nursing home projects in the New York area is ready to move forward thanks to a land swap that could prove most profitable for developers Joseph Chetrit and Laurence Gluck (note: correction appended).

    According to the Wall Street Journal, Chetrit and Gluck closed on the deal to give a lot on 97th Street between Amsterdam and Columbus avenues to Jewish Home Lifecare in exchange for the agency’s four-building campus that occupies most of the block nine streets directly north and another building on 105th Street. The developers will also give $35 million to Jewish Home. … [more]

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  • Larry Gluck’s Stellar Management has finalized a plan to partner with tenant Erez Shternlicht and replace a loading dock in Gluck’s Meatpacking District office building at 450 West 15th Street with a prime retail storefront.

    The retail addition, that will sit just west of luxury clothing retailer Jeffrey New York on West 14th Street between Ninth and 10th avenues, is part of a larger approximately $60 million sale and lease transaction Milk Studio’s Shternlicht executed in two separate deals including the sale of the neighboring Mobil gas station.

    Shternlicht said the extremely complicated deals would unlock millions of dollars in value for the Stellar Management building and influence the area by adding retail on 14th Street all the way to 10th Avenue. … [more]

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  • Laurence Gluck’s Stellar Management made a deal with special servicer CW Capital Asset Management to extend the $265 million senior mortgage on Independence Plaza in Tribeca by two years, the Wall Street Journal reported, giving it time to see how a rent-stabilization lawsuit plays out. It’s the second such deal Stellar has made with creditors on the 1,332-unit complex.

    Stellar partnered with Westbrook Real Estate Partners to purchase the complex at 80 North Moore Street in 2003 with the intent to raise rents by removing it from the Mitchell Lama program. The firm initially took out just a $66 million mortgage, but used more debt to make building improvements. … [more]

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  • 111 Kent now available as rental

    August 29, 2011 02:00PM

    The Williamsburg property at 111 Kent Avenue has now hit the market as a rental, Brownstoner reported.
    Asking rents at the building, between North 7th and North 8th streets, range from $2,705 to
    $4,519 a month. In 2009, the building was on the
    market as a condominium, and prices ranged from $575,000 to $1.1 million. It
    was converted into a rental after being purchased by Laurence Gluck’s
    Stellar Management this March
    . The waterfront property also features an outdoor
    swimming pool, roof deck and courtyard.
    [Brownstowner] 

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  • Laurence Gluck-led Stellar Management requested to transfer its debt on Independence Plaza to a special servicer in an effort to extend the mortgage. Independence Plaza is a mixed-use complex in Tribeca that consists of 1,328 apartment units across three 39-story towers with 73,000 square feet of retail space and a 230,000-square-foot commercial parking garage. A spokesperson for Stellar Management said that the deal will not affect residents of the buildings, and that ownership still has a firm grasp on the property. TRD[more]

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