The Real Deal New York

Posts Tagged ‘stellar management’

  • From left: Shimon Shkury and 305 East 86th Street, part of Stellar Management and the Chetrit Group’s $485-million buy during the third quarter

    From left: Shimon Shkury and 305 East 86th Street, part of a $485-million buy during the third quarter

    Driven by a trio of $200 million-plus deals, the city’s multifamily sector climbed to more than $3 billion worth of sales in the third quarter. [more]

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  • 50 West 93rd Street and Laurence Gluck

    50 West 93rd Street and Laurence Gluck

    Rent-stabilized tenants at two Upper West Side buildings are alleging that they are being harassed by their landlord, the Laurence Gluck-lead Stellar Management. [more]

  • Yorkshire Towers

    Yorkshire Towers at 305-315 East 86th Street

    Some residents at Yorkshire Towers are saying their landlord is forcing them out of the building with exorbitant rent increases ahead of a planned sale. [more]

  • gluck

    From left: One Soho Square renderings (Neoscape, Inc.), Laurence Gluck and Josh Kuriloff

    Cosmetics brand Aveda, an affiliate of Estée Lauder, inked a lease to expand at 233 Spring Street, an office building that’s part of Stellar Management’s One Soho Square project. [more]

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  • Larry Gluck and 252 West 76th Street

    Larry Gluck and 252 West 76th Street

    Lawyers for Laurence Gluck are scheduled for a June 27 court hearing to try to block real estate investor David Benishai from selling his stake in an Upper West Side residential complex to rival firm Argent Ventures. [more]

  • tivoli

    49-57 Crown Street in Brooklyn

    Several federally-subsidized tenants at Stellar Management’s Crown Heights complex Tivoli Towers are refusing to move into smaller apartments — despite orders from the city.

    The Department of Housing Preservation and Development found that some tenants were living in units at 49-57 Crown Street that were too big for their needs according to a recent set of guidelines. The agency wrote letters earlier this year that gave tenants a 30-day deadline to vacate and/or prepare to move. [more]

  • From left: Renderings of 1 Soho Square and 837 Washington Street

    From left: Renderings of 1 Soho Square and 837 Washington Street

    Three old brick Manhattan office buildings are gearing up for 21st-century additions that are heavy on glass, amenities and roof decks. [more]

  • Larry Gluck and 666 West End Avenue

    Larry Gluck and 666 West End Avenue

    Larry Gluck’s Stellar Management, the Upper West Side landlord that caught heat over blocking rent-stabilized tenants from a property’s newly-installed pool, is now under fire for allegedly mistreating workers at the same building. [more]

  • From left: Larry Gluck and rendering of pool at 666 West End Avenue

    From left: Larry Gluck and rendering of pool at 666 West End Avenue

    A landlord of an Upper West Side building is renting out a newly installed pool to a business that provides swim lessons to kids — a move that’s seen as an affront to rent-regulated tenants banned from using it themselves. [more]

  • Renderings of One Soho Square

    Renderings of One Soho Square

    Stellar Management and Rockpoint Group have unveiled a first glimpse at One Soho Square, a planned office project that will roll 161 Avenue of the Americas and 233 Spring Street into one. [more]

  • 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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  • 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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  • milk

    450 West 15th Street and Kyle Ciminelli

    Jamestown Properties has signed up biopharmaceutical firm Intercept as a new tenant at the Milk Studios building, a 281,000-square-foot, eight-story office property bordering the High Line in the Meatpacking District.

    Intercept, which develops medicine to treat chronic liver disease, agreed to a 10-year, 11,124-square-foot lease for part of the fifth floor at 450 West 15th Street between Ninth and 10th avenues. The deal includes a commitment to expand by 9,500 square feet next year. Rent starts in the low-$70s per square foot in the second year, after one year of free rent. [more]

  • 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]

  • 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]

  • 450 W. 15th St. and Larry Gluck

    Thanks in part to an unusual piece of seller-financing, Jamestown Properties has closed on its $295 million purchase of the Milk Studios building from Stellar Management, city records show. Records filed with the city Friday show a transfer price of $284.4 million, but The Real Deal has learned that the sale price actually ticks in at $295 million. The New York Post reported in early December that the 281,361-square-foot property, located at 450 West 15th Street in the Meatpacking District, was approaching a sale for $300 million. [more]

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  • Larry Gluck and 26 Vandam Street

    Stellar Management has paid $6.1 million for a 21-unit rental building in Soho with the aim of adding air rights to its adjacent office project, known as One Soho Square, the Commercial Observer reported. The building at 26 Vandam Street came with 15,625 square feet of air rights.

    Earlier this year, Larry Gluck’s Stellar and Imperium Capital paid $200 million for an office tower at 161 Sixth Avenue and another at 233 Spring Street. The firm plans to combine the two buildings, adding 80,000 square feet of office space to the 740,000-square-foot property – at an estimated cost of $75 million. [more]

  • 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]

  • 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]

  • UWS is gaining a high-end rep

    May 11, 2012 09:30AM

    From left: Shlomo Reuveni, the Windermere and the new Brooks Brothers

    The Upper West Side is becoming more affluent, real estate brokers told the New York Daily News, and no where is that better reflected than in the neighborhood’s rising residential and retail rents. The News points to the Windermere, a rental building long in poor condition at 92nd Street and West End Avenue that Stellar Management recently upgraded. Apartments now rent for between $2,200 per month for a studio and $16,000 a month for a four- or five-bedroom home, under a marketing team led by Brown Harris Stevens’ Shlomi Reuveni. [more]


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