A megaproject in Downtown Brooklyn — Acadia Realty Trust’s City Point – led the pack of the city’s 10 largest new developments approved in November. But plenty of other mammoth projects in Manhattan and elsewhere in the five boroughs made the list, according to a PropertyShark analysis of city Department of Buildings permits issued last month, ranked by square footage. Read on for a full list. [more]
Posts Tagged ‘Sol Goldman’
Solil Management, the company that manages the assets of the late real estate mogul Sol Goldman, has subleased about 27,500 square feet — the entire 10th floor — of SL Green Realty’s 1185 Sixth Avenue. Solil will sublet the space from oil company Hess for 14 years. Solil will move out of its longtime offices at 640 Fifth Avenue. [more]
Tim and Kit Kemp, the British husband-wife team behind the Crosby Street Hotel at 79 Crosby Street, have inked a deal to build another hotel in New York City, sources told The Real Deal.
Firmdale Hotels, the London-based company headed by the Kemps, has signed a land lease for West 56th Street. The site, a collection of lots owned by the estate of real estate investor Sol Goldman, can support a hotel up to 120,000 square feet, it was previously reported. [more]
Legendary New York City real estate investor Sol Goldman — who amassed a property fortune estimated to be worth $1 billion — died 25 years ago this month at age 70.
The Brooklyn-born Goldman started assembling his real estate fortune in the 1930s during the Great Depression, when he was only 17. Along with his frequent business partner Alex DiLorenzo, Jr., Goldman at one time owned New York trophy properties such as the Chrysler Building and the Stanhope Hotel. [more]
[Updated at 11:35 a.m. on Aug. 30 with information from DOB and the FDNY] Blackstone Group, which acquired the ground lease at 1140 Sixth Avenue in May, has filed a lawsuit against the landlord to block a default notice it received for five alleged violations issued by the New York Fire Department.
Blackstone, in an Aug. 26 complaint filed in New York State Supreme Court, alleges that the estate of billionaire Sol Goldman, which owns the building, between 44th and 45th streets, sent it a default notice June 30, claiming it had 12 outstanding FDNY violations, nine Department of Buildings violations and two Environmental Control Board violations. … [more]
From left: Blackstone CEO Stephen Shwarzman, Laurence Gluck, 1140 Sixth Avenue, Andrew Scandalios, and Rockpoint head Pat Fox
Private equity firm Blackstone was the winning bidder in the highly competitive process to buy the $116 million non-performing note for the leasehold on the entire building at 1140 Sixth Avenue, which is owned by Stellar Management and Rockpoint Group, sources said.
Blackstone will pay something close to — but a little bit less than — $100 million for the note held by German lender Landesbank Baden-Wurttemberg, sources said, but the precise figure could not be obtained. In addition, the owners have an agreement to transfer the leasehold to Blackstone, a source said, but it was not clear if Blackstone would pay for the title, or when the exchange would happen…. [more]
31-39 West 34th Street, where Uniqlo is expected to open a store, and 19 West 34th Street, future home for Dr. Jay’s
A lawsuit brought against the estate of Sol Goldman claiming it was seeking $7 million to approve a sublease with Japanese retailer Uniqlo on West 34th Street near Macy’s was settled last month, two sources said.
The suit was related to the expected entry of Uniqlo onto 34th Street between Fifth and Sixth avenues.
Through its parent company, Fast Retailing, Uniqlo has negotiated with El Fassi Realty to lease a portion of 31-39 West 34th Street, court records show. The retailer is expected to lease the former Ann Taylor Loft portion of the first floor, as well as the space occupied by Dr. Jay’s on the second and third floors, vacated after El Fassi paid it more than $10 million, sources said. It was unclear how much total space it involved. … [more]
A tenant of the notoriously tight-fisted estate of the late Sol Goldman is claiming in a new lawsuit that the sprawling real estate company is harassing it to extract a $7 million payment to approve a sublease by Japan’s top clothing retailer, Uniqlo, at 31 West 34th Street near Herald Square. Tenant El Fassi Realty claims the Goldman estate is using New York City Fire Department violations to claim the lease — which expires in 2086 — is in default, because the lease requires
violations to be cleaned up quickly. If they are not, the Goldman estate will terminate the lease…. [more]
Lloyd Goldman unloads property primed for mega-mansion conversion
The Upper East Side’s one-time “hotel for doctors,” which for many years housed the offices of famed sex therapist Dr. Ruth Westheimer, was snapped up by a New York investor for $24.5 million in an overnight d… [more]