1890-1894 Lexington Avenue and Urban American CEO Philip Eisenberg

In what may be a sign of economic strains stemming from a controversial $940 million Manhattan apartment package acquired during the market’s boom, the private equity-backed residential landlord Urban American Management brought to market this week a small piece of that portfolio, The Real Deal has learned. [more]

Clockwise from left: Joseph Moinian, Sam Chandan, David Von Spreckelsen, Robert Levine, Jeffrey Levine and David Lowenfeld spoke at the New York Real Estate Summit yesterday.

Deep price drops and buyers bent on negotiation are trends in all of New York City’s boroughs, but residential developers say they are seeing distinct variations by neighborhood in the magnitude of price drops and the number of deals that make it to closing. “We have found a difference in neighborhoods in terms of closings,” said Robert Levine, president and CEO of RAL Companies & Affiliates, at a residential market panel at yesterday’s New York Real Estate Summit, hosted by The Real Deal columnist Michael Stoler. The Real Deal was a sponsor of the event. [more]