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The Real Deal New York

  • Inside Patrick Dempsey’s Malibu mansion

    The home is on the market for $14.5M
    May 02, 2015 09:41AM TRD WEEKEND EDITION
    Patrick Dempsey  and his Malibu home

    Patrick Dempsey and his Malibu home

    From Luxury Listings NYC: Actor Patrick Dempsey and his soon-to-be ex-wife, Jillian Fink, are looking to unload their Malibu mansion for $14.5 million. Here’s a peak inside. [more]

  • Top residential agents of the week

    May 01, 2015 06:00PM
    530 Park Avenue in Lenox Hill

    530 Park Avenue in Lenox Hill

    Kiyomi Yamada of Classic Marketing topped this week’s residential sales with a $8.8 million condo at 530 Park Avenue in Lenox Hill. Click here to see this listing and more.

  • No redemption for developers in dispute with UWS church

    Cheever Development had started excavation for condo project at 814-816 Amsterdam Ave. prior to the crash
    May 01, 2015 05:51PM By Tess Hofmann
    St. Michael's Church at 225 99th Street on the Upper West Side

    St. Michael’s Church at 225 99th Street on the Upper West Side

    St. Michael’s Church has been absolved of claims that it owed Cheever Development’s Getz Obstfeld and Matthew Lonuzzi $14 million, after it backed out of an agreement to sell them a development site on the Upper West Side. [more]

  • The week in renderings: 126 Madison Ave., 1809 Emmons Ave.

    Here are some images of future NYC sites that caught our eye
    May 01, 2015 05:30PM
    Clockwise from left: 1047 Amsterdam Avenue

    Clockwise from left: 1047 Amsterdam Avenue, 126 Madison Avenue, 1809 Emmons Avenue in Sheepshead Bay and 1915 Bartow Avenue in the Bronx

    A new hotel on West 38th Street, a duo of residential towers on the Upper West Side and more in this week’s notable renderings.

  • Inside TheRealDeal
  • Who Tweeted/Facebooked/Insta’d it?

    Some feeds are more colorful than others
    May 01, 2015 05:00PM By Rich Bockmann

    Quiz pics

    Many real estate players use social media as a way to expand their brand. Can you guess who Tweeted and Instagrammed these gems?

  • Stuart Elliott

    Stuart Elliott

    From the May issue: Some of the biggest real estate players in New York fly so far under the radar that they might as well be in the witness protection program. It’s almost an urban legend: The shadowy developer who builds whole chunks of the city but has never been seen in public. In this issue, we profile a classic example of this developerus secretus species, Simon Dushinsky of the Rabsky Group, who is one of the most prolific builders in Brooklyn. [more]

  • Sapir and CIM’s 11 Madison hits market

    Tenants at 29-story, 2.2M sf tower include Yelp, Sony
    May 01, 2015 04:39PM
    Sapir 11 Madison

    Alex Sapir and 11 Madison Avenue

    The Sapir Organization and CIM Group have placed their Art Deco office tower at 11 Madison Avenue on the market.

    The two entities own the 29-story, 2.2 million-square-foot building, located next to Madison Square Park, through a partnership. They previously put the property up for sale in 2012, eventually pulling it off the market when they could not get the $1.5 billion asking price. [more]

  • 421a limbo? New resi unit applications hit a low in April

    With key legislation's fate up in the air, developers may be wary to move ahead
    May 01, 2015 04:08PM By Will Parker
    Residential permit applications filed with the Department of Buildings from April 1, 2014 to April 30, 2015 (Source: DOB data, TRD analysis)

    Residential permit applications filed with the Department of Buildings from April 1, 2014 to April 30, 2015 (Source: DOB data, TRD analysis)

    Uncertainty over the fate of the 421a program may be giving developers pause, with last month seeing the lowest number of permits filed in the last year for new residential units in New York City.
    [more]

  • Class A rents in Midtown rebound; Midtown South sees “hitch”

    Effective rents up 5 percent for Class A Midtown space in Q1: CompStak
    May 01, 2015 03:31PM By Rey Mashayekhi
    Manhattan office effective rents

    Average effective rents by Manhattan office market (credit: CompStak)

    The Midtown office market performed strongly in the first quarter of 2015, with effective rents for Class A space increasing 5.1 percent from the previous quarter while Midtown South effective rents dropped after three consecutive quarters of growth. [more]

  • Woori Bank relocates to 25K sf within Koreatown

    Arm of South Korea’s largest bank headed to Shulsky's 330 Fifth Ave.
    May 01, 2015 02:55PM By Rich Bockmann
    330 Fifth Avenue, Soon H. Rhee (top) and Norman Bobrow

    330 Fifth Avenue, Soon H. Rhee (top) and Norman Bobrow

    The local arm of one of Asia’s largest banks is relocating from the corner of Broadway and 31st Street – where its retail branch marked the edge of Koreatown – two blocks over to the other side of the small neighborhood.

    Woori America Bank, a subsidiary of South Korean bank Woori Financial Group, has signed a lease for 25,000 square feet at Shulsky Properties’ 330 Fifth Avenue at 33rd Street, and will move from Jamestown Properties’ 1250 Broadway between 31st and 32nd Streets. [more]

  • Emigrant’s head of CRE dies in bike crash

    Patricia Goldstein was alum of Citicorp, Milstein Brothers Realty Investors
    May 01, 2015 02:31PM
    Patricia Goldstein

    Patricia Goldstein

    Patricia Goldstein, a vice president and the head of commercial real estate for Emigrant Bank, died Wednesday from injuries sustained in a bicycle accident. She was 69.

    A car struck Goldstein on April 23 while she was riding in a highway bike lane in Highland Beach, Florida. The car left the road, hitting her and her husband Howard Epstein, who was riding on another bicycle and was also seriously injured. [more]

  • The May issue is live!

    Residential rivalries get ugly, a profile of Simon Dushinsky, tech startups ranking & more
    May 01, 2015 02:06PM
    The Real Deal May 2015

    The Real Deal May 2015

    Amid unprecedented competition in the residential real estate world, the battling between firms has reached epic proportions as firms attempt to beat each other out for top talent. This month, The Real Deal looked at some of the most intense rivalries, and the public (and not-so-public) conflicts they’ve given rise to, in our cover story for the May issue, now available online. [more]

  • Not just the Whitney: the West Side set to become a hub for major art galleries

    Pace Gallery and Hauser & Wirth both planning expansion
    May 01, 2015 01:35PM
    From left: the new Whitney Museum in the Meatpacking District and Pace Gallery

    From left: the new Whitney Museum in the Meatpacking District and Pace Gallery

    As the new Whitney Museum opens in the Meatpacking District and rents in the surrounding area reach new heights, Chelsea’s big galleries are upping their game. [more]

  • Yechiel Weinberger, Bernard Miller sell $38M Clinton Hill portfolio

    Weinberger has been named one of NYC’s worst landlords
    May 01, 2015 01:15PM By Tess Hofmann
    From left: 29 Putnam Avenue and 90 Downing Street in Clinton Hill

    From left: 29 Putnam Avenue and 90 Downing Street in Clinton Hill

    Brooklyn landlords Yechiel Weinberger and Bernard Miller sold a four-building, 129-unit Clinton Hill residential portfolio for $38 million, according to property records filed with the city today.  [more]

  • Proposed concepts for Riverside Center’s Building 1, revealed

    Arquitectonica, GHWA submit three plans for Extell Development project
    May 01, 2015 12:35PM
    Riverside Center Building 1

    Proposed renderings for Building 1 at Riverside Center (credit: Arquitectonica)

    Renderings of three separate plans for “Building 1” at Extell Development’s Riverside Center residential project have been released. [more]

  • Douglas Durst may move to freeze $74M of Robert’s money

    Durst Org. chair settles suit with "Jinx" creator Jarecki
    May 01, 2015 12:05PM
    robert-durst-and-douglas-durst

    From left: Robert Durst and Douglas Durst

    Durst Organization chair Douglas Durst may move to freeze $74 million of his brother and accused murderer Robert Durst’s fortune, after it was confirmed that Robert was the source of confidential family material leaked to “The Jinx” creator Andrew Jarecki. [more]

  • Related’s Jeff Blau finds buyer for $35M co-op

    Developer had re-listed the 1040 Fifth Avenue pad in October with CORE
    May 01, 2015 11:25AM
    From left: 1040 Fifth Avenue, Jeff Blau and Emily Beare

    From left: 1040 Fifth Avenue, Jeff Blau and Emily Beare

    Related Companies CEO Jeff Blau has found a buyer for his fancy 1040 Fifth Avenue co-op. [more]

  • Revealed: 133-unit apartment complex in Williamsburg

    89,860 sf development located near Brooklyn-Queens Expressway
    May 01, 2015 11:08AM
    125 Borinquen Place

    Rendering of 125 Borinquen Place in Williamsburg (credit: De-Jan Lu Architects)

    Renderings for a planned seven-story, 133-unit apartment building at 125 Borinquen Place in Williamsburg have been released. [more]

  • Here’s why Barbara Corcoran thinks NY real estate might be in a bubble: VIDEO

    The real estate maven on increasing values and why last selling price shouldn't be a concern
    May 01, 2015 10:30AM
    Barbara Corcoran

    Barbara Corcoran

    Barbara Corcoran says that New York City might be in a new bubble, but she doesn’t seem too concerned. Click through to see the video. [more]

  • Donald Trump's Bronx golf course

    Donald Trump’s Bronx golf course

    Donald Trump’s Bronx golf course as seen via drone. Prospect Capital Group dissolves into Eastern Consolidated. Old Bronx Borough Courthouse gets an art installation. Read these stories and more after the jump.

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