The Real Deal New York

Posts Tagged ‘sterling equities’

  • Willets Point rendering

    Willets Point rendering

    Opponents of the Willets Point redevelopment claim that, before the city can transfer all the land for the project to developers, additional approvals from the mayor and the Queens Borough Board are needed.

    The $3 billion plan includes residential space and a mega mall and will displace hundreds of car repair shops currently located in the area. [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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  • Rendering of a redeveloped Willets Point (Credit: New York City Economic Development Corp.)

    Rendering of a redeveloped Willets Point (Credit: New York City Economic Development Corp.)

    Park advocates and civic leaders opposed to the Related Companies and Sterling Equities’ planned megamall adjacent to Citi Field argued their case in State Supreme Court in Manhattan yesterday.  [more]

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  • bcb

    From left: Matthew Fotis, 234 Union Avenue, 250 Pacific Street and Fred Wilpon

    Midtown-based landlord BCB Property Management sold a pair of Brooklyn buildings for a combined $21.2 million, a spokesperson for the seller told The Real Deal. Sterling Equities, led by New York Mets owner Fred Wilpon, acquired the five-story walk-up building at 250 Pacific Street in Carroll Gardens. Enterprise Asset Management bought the six-story walk-up at 234 Union Avenue in Williamsburg. [more]

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  • From left: Fred Wilpon, 90-96 Meserole Street in Williamsburg and Steven Vegh

    From left: Fred Wilpon, 90-96 Meserole Street in Williamsburg and Steven Vegh

    Sterling Equities just closed on a 32-unit rental apartment building in East Williamsburg for $21 million, or $656,250 per unit, The Real Deal has learned. The transaction appears to be one of the highest per-unit prices ever paid for a walk-up in Brooklyn. [more]

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  • From left: Willets Point auto repair shops and a rendering of the planned Willets Point redevelopment

    From left: Willets Point auto repair shops and a rendering of the planned Willets Point redevelopment

    The city has paid nearly $8 million to buy one of the remaining plots of Willets Point it does not control. [more]

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  • meserole

    76-80 Meserole Street in Brooklyn (Insets: Fred Wilpon and Lipa Lieberman)

    Sterling Equities, led by New York Mets owner Fred Wilpon, bought a 61,000-square-foot Williamsburg multi-family rental building from Cornell Realty Management for $36 million, The Real Deal has learned. [more]

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  • 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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  • 345-carroll-street

    345 Carroll Street and Sterling’s Fred Wilpon

    Sterling Equities’ 30-unit residential project on the site of the Regency Carts building in Gowanus, Brooklyn, will officially hold condominiums – granted the city signs off on Sterling’s plans.

    The city’s Department of Buildings rejected the initial plan exam earlier this month. As a result, the demolition of the two-story building currently on the site has been delayed.  [more]

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  • willets-point-avella

    Tony Avella and Willets Point rendering

    The Related Companies and Sterling Equities have requested $43 million in city tax breaks for their joint $3 billion redevelopment of Willets Point.

    The city will review the request at a public hearing tonight. Then, on Tuesday, the Industrial Development Agency will make the final decision, amid oppositions from residents and local politicians. [more]

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  • willets-point

    Willets Point rendering

    The Queens Borough Board signed off Monday on Sterling Equities and the Related Companies’ acquisition of 23 acres for the $3 billion Willets Point redevelopment project.

    The City Council backed the project last month, but now the city’s $1 sale of land to the developers’ joint Queens Development Group LLC is official. Council member Julissa Ferreras was at first skeptical of the plan, but voted for it after concessions such as increased affordable housing and more funding for businesses’ relocation were made. [more]

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  • Sterling's Fred Wilpon and the Willets West retail center

    Sterling’s Fred Wilpon and the Willets West retail center

    An 18,000-square-foot business incubator is coming to the $3 billion redevelopment of Willets Point, Queens, spearheaded by the Related Companies and Sterling Equities. [more]

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  • 337 Carroll Street in Gowanus

    337 Carroll Street in Gowanus

    Sterling Equities is bringing a 30-unit residential project to the site of the Regency Carts building in the Gowanus section of Brooklyn. The four-story, 53,475-square-foot development at 345 Carroll Street will be designed by GLUCK+ architects, according to a plan exam application filed Oct. 22. Sterling — which is partnering with the Related Companies on a plan to overhaul Willets Point — also filed demolition permits for the current two-story building at the site. [more]

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  • Willets Point Rendering

    Willets Point rendering

    The future of the Related Companies and Sterling Equities’ plan to overhaul Willets Point with a mega-mall could rest on whether the city is willing to shell out $70 million for traffic ramps leading to the development. [more]

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  • Willets Point Rendering

    Willets Point rendering

    The Related Companies and Sterling Equities’ plan to overhaul Willets Point with a mega-mall next to Citi Field comes up for a first hearing before the City Council Monday. [more]

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  • love-lane-mews

    Love Lane Mews, 9 College Place in Brooklyn Heights

    Love Lane Mews, a five-story, 38-unit former parking garage turned condominium development in Brooklyn Heights, has sold out, according to a spokesperson for Manhattan Skyline, which developed it with Sterling Equities. [more]

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  • Sterling's Fred Wilpon and the Willets West retail center

    Sterling’s Fred Wilpon and the Willets West retail center

    The City Planning Commission approved the Related Companies and Sterling Equities’ plan to build a sprawling mall at Willets Point, as part of a $3 billion redevelopment of the area near Citi Field.

    “Willets Point is on its way to becoming remediated and ultimately becoming an active and inviting destination,” City Planning Commissioner Amanda Burden said Wednesday after signing off on the 1.4 million-square-foot mall. [more]

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  • Willets Point rendering

    UPDATED, 10:22 a.m., May 11: Queens Community Board 7 will hold a public hearing on Monday to discuss the Related Companies and Sterling Equities’ Willets Point and Willets West development plans, as part of the city’s public review process of the 62-acre Queens project, according to a blog operated by advocacy group Willets Point United. [more]

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  • Willets Point casino back on the table?

    February 05, 2013 02:00PM

    Willets Point rendering

    UPDATED, Feb. 5, 5:47p.m.: Will a casino come to Willets Point afterall? The owners of the Mets had placed their bets on developing a casino at the Queens site in order to win back some of the $162 million the team lost in the Bernie Madoff Ponzi scheme, the New York Post reported. Fred Wilpon and Saul Katz’s Sterling Equities had a proposal for a casino complex with a 500-room hotel and 1.8 million square feet of retail. [more]

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  • Sterling's Fred Wilpon and the Willets West retail center

    Did the Related Companies and Sterling Equities have an unfair advantage in securing the bid to develop Willets Point? Sources told the Queens Times Ledger that none of the other bidders were aware that land to the west of Citi Field, which is currently used as a New York Mets parking lot and owned by the Wilpon family that heads Sterling Equities, was up for development. That’s where the partnership plans a 1 million-square-foot retail and entertainment complex called Willets West. [more]

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