The Real Deal New York

Posts Tagged ‘real estate board of new york’

  • Supporters of the Occupy Wall Street movement have now begun targeting the Real Estate Board of New York on social media and then in turn by phone, following news reports that REBNY seeks to submit a proposal to the city limiting the public access hours of privately owned public parks. In response to an opinion article in today’s New York Times by Jerold Kayden, a professor of urban planning at Harvard University, on the legal gray area of such privately owned public spaces, and the news reports of REBNY’s plans, a Twitter user called @OccupyMyCat this morning posted, “Announcement! It’s time to Occupy REBNY, the Real Estate Board of New York!”


  • The Real Estate Board of New York held its 23rd annual Residential Deal of the Year Awards and Charity Gala last night at Pier 60 at Chelsea Piers. The top prizes went to Sharon Baum, senior vice president and director of the exclusive properties division of the Corcoran Group, who received the Henry Forster Award for Lifetime Achievement, and Norman Horowitz, executive vice president at Halstead Property, who won the first prize Residential Deal of the Year Award in  sales. The Rookie Salesperson of the Year Award was given to Sarah Williams, an agent with Halstead Property, for what REBNY called “her impressive entry into New York City’s residential sales market.” – Miranda Neubauer[more]

  • While the wave of residential market reports issued by brokerages earlier this month found Manhattan home prices to be stable, the Real Estate Board of New York found prices to be increasing.

    The average Manhattan home price in the third quarter increased 5 percent compared to the prior year quarter to $1.39 million, according to the REBNY report released today. Citywide, REBNY found home prices increased 8 percent to $780,000. Chelsea/Flatiron saw the biggest price increase over the last 12 months, as homes averaged $2.08 million, 16 percent more than they cost in the third quarter of 2010. – Adam Fusfeld[more]

  • RealPlus, developer of real estate listings platform R.O.L.E.X., is planning to launch an enhanced version of the system, offering greater control in how firms co-broke and exchange listings, the company announced today.

    The R.O.L.E.X. system will be available to all Real Estate Board of New York members as an optional, fee-based service.RealPlus handles as many as 10,000 transactions per day, it said, and supports over 500 firms, all members of the REBNY Listings Service.

    Features of the new program, RealPlus said, include the option to feed listings to the New York State Multiple Listings Service, supply listings to national property site Realtor.com automatically and it offers a quicker means of co-brokering listings. — Katherine Clarke[more]

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    Warburg broker and REBNY technology chair Steven Goldschmidt

    The Real Estate Board of New York is updating the technology behind its residential listing service, Crain’s reported, and switching to Stratus Data Systems from RealPlus Online Listings Exchange. The new service, which is compatible with applications and software that allow more programs to access information from the listing service, will be implemented in January, but the switch won’t be complete for a year.

    “We needed a system that could keep up with the times,” said Steven Goldschmidt, a broker at Warburg Realty and chair of REBNY’s technology committee. “We are going from a 1995 Audi to a 2013 Lexus.” … [more]

  • Over three-quarters of New York brokers believe that next quarter’s values and sales will be better than or the same as last quarter, according to a second-quarter survey conducted by the Real Estate Board of New York and released today. The survey found that 77 percent of respondents reported closing rental transactions at or above asking rent in the second quarter, up 16 percent from the quarter prior. Additionally, 13 percent more brokers reported closing rental transactions and 4 percent more reported closing sales compared to last quarter. Ten percent more brokers reported closing sales at or above asking price compared to what brokers reported in the second quarter of 2010. – Miranda Neubauer[more]

  • New York City home sales prices inched upward, while sales activity blossomed in the second quarter of 2011, according to a report released today by the Real Estate Board of New York.

    Sales activity increased 10 percent from the first quarter of 2011, but is down four percent from the same period a year ago due to “unseasonable fluctuations” caused by the looming expiration of the homebuyer’s tax credit, according to Steve Spinola, REBNY’s president. Meanwhile, sales prices increased 2 percent from last quarter and 3 percent from the same period a year ago. In the second quarter “we saw a return to normal cyclical market patterns,” Spinola said. – Adam Fusfeld[more]

  • The little-known 15-member New York State Board of Real
    that helps craft regulations for the industry and hears
    public complaints about brokerage licensing has a mandate to
    meet at least three times per year yet has not held a meeting in
    more than 24 months.

    The quasi-governmental body, which includes appointed
    members such as Diane Ramirez, president of
    Halstead Property, and Eileen Spinola, a senior vice president
    for the Real Estate Board of New York, last met in June
    2009, before either Ramirez or Spinola began their two-year
    terms. Other members include real estate brokers from the
    Bronx, Brooklyn, Manhattan and upstate as well as corporate
    representatives. The governor, and majority and minority
    leaders in the State Senate and Assembly appoint the members.
    There are currently two vacant positions. … [more]

  • LPC weighs landmarking 40 UWS blocks

    June 28, 2011 12:49PM
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    From left: 333 West 86th Street and 235 West 75th Street (building photo credit: PropertyShark)

    The Landmark Preservation Commission is holding a hearing today to
    decide whether to create a historic district spanning West End Avenue
    from 70th Street to 109th Street, DNAinfo reported. The
    district would encompass more than 800 buildings, and quell growing
    concern over the recent destruction of architectural detail on two Upper
    West Side buildings. In the last two months ornamental urns were
    removed from 333 West 86th Street and marble columns were detached from
    235 West 75th Street. Though both incidents were licensed with proper permits, residents of the buildings were surprised and angered by the changes. … [more]

  • Robin Abrams and Howard Dolch of Lansco received the award for “Most Creative
    Retail Deal of the Year” by the Real Estate Board of New York last night for their
    representation of discount stores Filene’s Basement and Syms Clothing in
    opening a
    new flagship location at 530 Fifth Avenue
    in Midtown.

    Robert Futterman, Gary Alterman and Ariel Schuster of Robert K. Futterman &
    Associates received a prize for the deal that “most benefits Manhattan,” for representing
    grocery store Fairway Market, which took a space at 240 East 86th Street in Yorkville.

    The awards for the 2010 top retail deals were announced at a cocktail party at 101 Park
    Avenue in Midtown. TRD

  • The Bloomberg administration is ramping up its opposition to a GOP-sponsored Senate bill that would cap property taxes for apartment building owners whose tax abatements are about to expire, calling it “a large tax break dressed up as housing policy,” the Daily News reported. The legislation, introduced by Senate Housing Committee Chair Catharine Young, would extend the now-expired 421-a tax abatement program for four years, while imposing a 30-year cap on property taxes for landlords whose abatements are expiring and who agree to keep 20 percent of their housing units affordable. In those cases, property taxes would be capped at 20 percent of the buildings’ rental income, and according to Bloomberg administration officials, the city would lose an estimated $2 billion in revenue as a result. … [more]

  • New York-based landlord Friedland Properties is in settlement negotiations with the federal government for allegedly failing to comply with housing discrimination laws that protect the disabled, the Wall Street Journal reported. The building in question is the 22-story, 143-unit Melar, a rental building at 250 West 93rd Street on the Upper West Side, which the U.S. Attorney’s office believes Friedland did not make accessible enough for wheelchair users. Friedland initially agreed to set aside $180,000 to cover discrimination claims, pay a $40,000 fine and spend $288,300 to remedy the situation. But in April, the landlord filed a motion seeking to withdraw from the settlement. The implications of the ruling could extend far beyond the Melar and affect some 176,000 apartments — including 64,000 affordable housing units — throughout the city, industry insiders told the Journal. … [more]

  • Retail rents in Lower Manhattan jumped 23 percent in the spring of 2011
    compared to the fall of 2010, according to a report released today by
    the Real Estate Board of New York, and apparently that’s because of the  news coverage World Trade Center construction has garnered. “Lower
    Manhattan has been receiving national and international attention as a
    result of the progress at the World Trade Center site. The rise in
    asking rents for retail space shows that retailers are looking to
    capitalize on the increase in pedestrian traffic expected there in the
    years to come,” said Steven Spinola, REBNY’s president. TRD[more]

  • REBNY holds bedbug seminar

    May 11, 2011 04:43PM

    While rising spring temperatures would bring comfort to most, the real estate community in a city that had the most bedbugs in the nation last summer is on edge. In advance of a summer season that could achieve new heights in bedbug cases, the Real Estate Board of New York held an informal seminar on bedbug regulation and detection that featured property owners, pest control experts and entomologists, Crain’s reported. After all, 4,800 cases of bedbug violations were reported to the
    Department of Housing Preservation and Development last year, after
    numbering just 82 as recently as 2004. … [more]

  • A Department of Buildings safety regulation that for years has been the subject of gripes from property owners isn’t as onerous as the real estate industry originally thought. According to the Wall Street Journal, the DOB’s requirement that large buildings hire full-time safety inspectors during major façade work had been generally interpreted to mean that third-party safety managers must be hired to oversee contractors as they work. That has long been a source of frustration for landlords, who have paid thousands of dollars in fees to hire managers who have tons of downtime on the job. Recently, the DOB sought to clear up the confusion. … [more]

  • New York City Council member Dan Garodnick, who represents Stuyvesant Town and Peter Cooper Village, said a bill being kicked around the state senate ignores thousands of harmed individuals, lost affordable apartments and the law. In an interview with the Village Voice, Garodnick shreds the bill that would allow landlords who illegally deregulated apartments while taking tax breaks from the city to simply pay back their taxes and avoid further penalty. It would save landlords hundreds of millions of dollars, while tenants whose rents were illegally raised would lose their right, protected by a 2009 state appeals court ruling, to recover money. … [more]

  • Notoriously stubborn New York City co-op boards would see their power wane if two bills being kicked around the City Council become law. The Observer reported that the two bills, known as the “Fair and Prompt Co-op Disclosure Law” would require co-op boards to make a decision within 45 days of application submission and provide a written response explaining a rejection. As The Real Deal previously reported, perceived discrimination has become too closely intertwined with co-op boards’ decisions. Though the bills’ origination date back to 2006, widespread opposition helped keep them grounded, but the Real Estate Board of New York recently switched its position and backed the bills providing new pressure to pass the proposals. … [more]

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    Residential brokers are bullish on the second-quarter housing market in New York City, according to a survey by the Real Estate Board of New York released today. Of the 394 residential brokers REBNY said it polled through April 8, 72 percent said they expect the market to improve in the second quarter. And brokers reported having the sales numbers to back that up. Five percent more brokers said they have closings scheduled in the next three months compared with last year. Among the survey’s other findings, 7 percent of brokers reported sales that closed above the sellers’ asking price, up from 4 percent in the fourth quarter of 2010. TRD[more]

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    From left: David Noonan, Jennifer Schwartzman, Robert Eisenberg, Barry Gosin, Mark Weiss and Steven Spinola

    Newmark Knight Frank brokers David Noonan and Jennifer Schwartzman took home the top prize last night at the Real Estate Board of New York’s Most Ingenious Deal of the Year Awards. The ceremony honored the most creative commercial deals made in the last year, as judged by a panel that includes brokers and property owners, according to REBNY President Steven Spinola.

    Taking home second place were Robert Eisenberg, Barry Gosin and Mark Weiss, also from Newmark, while CB Richard Ellis’ Darcy Stacom and William Shanahan nabbed third place. … [more]

  • Vincent Peters, a vice chairman with Cushman & Wakefield, passed away Sunday, according to an obituary announcement from the Real Estate Board of New York. Peters, who died after a “short illness,” according to New York Post columnist Lois Weiss on Twitter, was 88. Peters, a REBNY member for 64 years, won the organization’s “Most Ingenious Deal of the Year Award” twice — in 1974 and 1985 while at Cushman. He was also influential in the real estate world beyond New York City, helping broker the development of Chicago’s famed Sears Tower. Cushman handed out an inaugural award in his name this past February. TRD


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