Web hits: The month in review 07/31/09 Chelsea's Milan goes from rental to condo back to rental
The Milan Condo on 23rd Street in Chelsea is going to need a new name. Joining the ranks of New York City's many "nondo...
NYC real estate pumps up DC lobbying 07/31/09 New York City-based real estate companies have increased their Washington lobbying expenditures by more than a quarter this year, as the industry battles a severe downturn and C...
Millions targeted for Willets Point infrastructure 07/30/09 The city's Economic Development Corporation said $100 million in
funding has been allocated for 14 capital projects in Queens, including
off-site infrastructure for a mixed-us...
Lender says Leviev firm scheming to wipe out $79M mezz piece 07/30/09 Lev Leviev (left) and the former New York Times Building
A private equity firm that helped fund the $525 million purchase by Lev
Leviev's AFI USA of the former New York Time...
Plaza unit loses 40% of value in 14 months 07/28/09 A unit in the Plaza sold for $8.5 million last week, a 41 percent
discount from its original sponsor sale price achieved a little over a
year ago, in May 2008. Co-owners Andri...
Small real estate group forms to build ties 07/28/09 To some young real estate professionals the large, youth-oriented
networking groups in Manhattan are attracting just too many people. Justin Stewart, a former vice president of...
Intuit exec's ex-wife pays $17.5M at 15 CPW 07/27/09 The ex-wife of the chairman of the board of software giant Intuit bought a
four-bedroom apartment in 15 Central Park West for $17.5 million, about
$3 million more than the sel...
11-condo unit package sells at Sheffield57 07/23/09 Kent Swig and Sheffield57
An entity called OSS Real Estate Holdings paid $14.1 million for 11 upper-floor condominium units in the Sheffield57 condo conversion at 322 West 57...
Building where Heath Ledger died sells for $15M 07/22/09 421 Broome Street, where Heath Ledger lived and died
The Soho building at 421 Broome Street in which actor Heath Ledger died
last year was bought today in a foreclosure auct...
Kent Swig, Joe Moinian's firm hit by lawsuits 07/21/09 Kent SwigCitibank claims developer Kent Swig owes it $5 million from a defaulted
personal loan; a contractor filed suit against Joseph Moinian’s
development company for unpaid...
New lender motto: 'Extend and pretend' 07/20/09 From the July issue: Commercial lenders are facing reality — but not all at once. In
addition to reluctance to admit they have bad loans on commercial
properties, lender...
Retail rents down one-third on Madison Ave. 07/17/09 Rents on some of the city's most prestigious shopping corridors have fallen by nearly a third over the last year, second-quarter retail data from Cushman & Wakefield shows. The ...
Bloomberg campaign rent expenditures surge 07/17/09 William Thompson (left), Michael Bloomberg
Rent expenditures for Michael Bloomberg's campaign for a third term as
mayor of New York City are 71 percent higher than what they w...
Swig, Sturner give divergent views on the commercial market 07/16/09 From the outset of the discussion on Manhattan's commercial real estate market this morning, developer Kent Swig of Swig Equities gave a gloomier assessment than co-panelist and...
Leasing on track to be worst in decades: CBRE 07/15/09 Leasing activity in Manhattan this year will likely be the weakest in
decades, top leasing brokers at CB Richard Ellis said at a
quarterly-market briefing this morning. "Our e...
Developers bracing for bankruptcy 07/15/09 From the July issue: In 2006, a young Brooklyn developer envisioned selling 130 units in a
building he was about to construct, called the Viridian, in the
emerging Brooklyn ne...
Stalemate in broker suit against Massey Knakal 07/13/09 Broker Timothy King (left) is suing Paul Massey's firm Massey Knakal
Despite a year passing since broker Timothy King filed a $3 million
lawsuit accusing his former partners...
