The Real Deal New York

Posts Tagged ‘Property Markets Group’

  • Luxury contracts break record in November

    December 04, 2014 02:40PM

    From left: Walker Tower and Penthouse 2

    ’Tis the season – for $4 million-plus homes.

    The Manhattan luxury market is heading into the holiday season on the heels of a red hot November that was the best on record. Buyers signed a total of 124 contracts at or above the $4 million mark during the month, according to the latest Olshan report. That’s up 36 percent from November 2013. [more]

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  • walker

    From left: Elliott Joseph, 212 West 18th Street in Chelsea, and Michael Graves

    Elliott Joseph, a principal at Walker Tower co-developer Property Markets Group, is asking a combined $44.5 million for a pair of apartments at the Chelsea condominium building. [more]

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  • From left: Long Island City's clock tower building and Kevin Maloney

    From left: Long Island City’s clock tower building and Kevin Maloney

    Kevin Maloney’s Property Markets Group paid nearly $31 million to snap up Long Island City’s clock tower building, city records show. But preservations are working to get the property declared a landmark before it’s torn down.

    PMG paid $30.9 million to buy the Morrell Smith-designed building at 29-27 41st Avenue, records filed with the city over the weekend show. The seller, the Criterion Group, bought the property in May for $15 million. [more]

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  • From left: Kevin Maloney, Howard Lorber and a rendering of 23-10 Queens Plaza South

    From left: Kevin Maloney, a rendering of 23-10 Queens Plaza South and Howard Lorber

    Kevin Maloney’s Property Markets Group has locked down more than $130 million in construction financing for its planned 44-story rental tower in Long Island City, property records filed with the city today show.  [more]

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  • The Gowanus Canal might be a superfund site, but developers and tenants are flocking to the neighborhood that bears the old industrial waterway’s name. [more]

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  • From left: Kasra Sanandaji, a rendering of 253 3rd Avenue and Kevin Maloney

    From left: Kasra Sanandaji, a rendering of 253 3rd Avenue and Kevin Maloney

    Development firm Apex Real Estate Investments is ready to swing the wrecking ball on Third Avenue in Gramercy to make way for an affordable housing project. The sweetener? The project will generate a 40,000 square-foot building bonus that the fledgling firm plans to transfer to an as-yet undisclosed market-rate project on the East Side. [more]

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  • pmg

    From left: Kevin Maloney, 548-554 West 22nd Street, Ivan Hakimian and Kevin Esh

    Kevin Maloney’s Property Markets Group, in partnership with developer Harry Jeremias of the Harch Group, closed today on the purchase of a 40,000-square-foot Chelsea commercial building for $40 million, The Real Deal learned. [more]

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  • From left: Stella Tower and Walker Tower

    From left: Stella Tower and Walker Tower

    The partnership that renovated the pre-war Walker Tower in Chelsea is getting more bang for its buck, as a number of residents are now buying units at another of its projects in Hell’s Kitchen.

    Six owners at Walker Tower have scooped up condos at the 51-unit Stella Tower at 425 West 50th Street. Like Walker, that tower was designed by Ralph Walker as a commercial building and refurbished by JDS Developments Group, Property Markets Groups and Starwood Capital Group. [more]

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  • 10 Sullivan Street

    Renderings of 10 Sullivan Street

    The first set of units at Madison Equities and Property Markets Group’s condominium project at 10 Sullivan Street has hit the market. [more]

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  • Renderings of Stella Tower at 425 West 50th Street

    Renderings of Stella Tower at 425 West 50th Street

    JDS Development Group and Property Markets Group’s Stella Tower is 60 percent sold one month after hitting the market, The Real Deal has learned exclusively. Click here to see photos of the property’s interior.

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  • acadia

    From left: 5-7 East 17th Street, Christopher Conlon and Open Kitchen

    UPDATED, 9:57 a.m., June 6: Acadia Realty Trust, the White Plains, N.Y.-based retail real estate investment trust co-developing the City Point mega-project in Brooklyn, found a tenant for the second portion of the now-vacant Barnes & Noble space in the Flatiron District, the developer told The Real Deal. [more]

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  • 548-w-22nd

    Kevin Maloney and 548 West 22nd Street

    Kevin Maloney’s Property Markets Group, which is co-developing the high-profile Walker Tower project with JDS Development Group, is in contract to acquire a 40,000-square-foot commercial building in Chelsea for $40 million. [more]

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  • From left: Interiors and exterior of 425 West 50th Street

    From left: Interiors and exterior of 425 West 50th Street

    Development firms JDS Development and Property Markets Group plan to bring their Stella Tower luxury condominium conversion to market this month. [more]

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  • 111-w-57

    Renderings of 111 West 57th Street

    JDS Development and Property Markets Group have unveiled new renderings for the 1,350-foot hotel-and-condominium tower at 111 West 57th Street. [more]

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  • Robert Gladstone, 10 Sullivan Street and Kevin Maloney of PMG

    From left: Madison Equities head Robert Gladstone, 10 Sullivan Street and Kevin Maloney of PMG

    WEEKENDEDITION Property Markets Group and Madison Equities have received $95 million in financing to build the luxury condominium planned for 10 Sullivan Street in Soho. [more]

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  • From left: Michael Stern and Kevin Maloney

    From left: Michael Stern and Kevin Maloney

    Over the past few years, high-profile developers Kevin Maloney and Michael Stern have worked together on several very successful projects. Currently, the pair is behind what’s slated to become one of the tallest residential towers in the city — an ultra-skinny, 1,350-foot hotel and condominium tower at 111 West 57th Street next to the Steinway Building. But behind the scenes, it appears tensions have been rising between the principals of JDS Development and Property Markets Group. [more]

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  • From left: Michael Stern and Kevin Maloney

    From left: Michael Stern and Kevin Maloney

    Michael Stern’s JDS Development and Kevin Maloney’s Property Markets Group have begun construction at the ultra skinny 1,350-foot hotel and condominium tower in Midtown, slated to be the city’s tallest residential tower if all goes as planned.

    The 60-foot-wide SHoP Architects-designed structure, slated to rise at 111 West 57th Street (previously reported as 107 West 57th Street), will stand 100 feet taller than the Empire State Building and is partially situated on a landmarked site. [more]

    8 Comments
  • Suddenly, developers flocking to Gowanus

    February 06, 2014 12:25PM
    Lightstone CEO David Lichtenstein and a rendering of the Gowanus project at

    Lightstone CEO David Lichtenstein and a rendering of the project at 363-365 Bond Street in Gowanus

    The smelly waters of the Gowanus canal aren’t keeping developers from sniffing out the area’s opportunity. Big-name developers such as the Lightstone Group and Sterling Equities are bringing rental and condo buildings to Gowanus, and investors predict an increase in development activity in the coming years. [more]

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  • Rendering of 23-10 Queens Plaza South

    Rendering of 23-10 Queens Plaza South

    UPDATED, 3:33 p.m., Jan. 22: Property Markets Group unveiled renderings today for their 44-floor 23-10 Queens Plaza South development in the burgeoning Long Island City neighborhood.

    The finished product is be a 44-story tower that includes parking spaces, ground-floor retail and two floors of loft office space, according to PMG’s website. The residential portion will have a total of 391 units, a spokesperson for PMG told The Real Deal. [more]

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  • one57-view-fbox

    The view from One57

    Extell Development reportedly typically forbids buyers from flipping contracts before closing and from trying to sell units until a year after purchase. But it seems that the developer has loosened the restrictions at One57.

    Last week, Tao Liu of Shanghai listed a one-bedroom condominium at the building, as The Real Deal first reported. He paid $3.56 million for the unit in April 2012, but listed it for $6 million, or about $5,700 per square foot. [more]

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