The Real Deal New York

  • Somerset’s Keith Rubenstein asking $84.5M for UES mansion

    The six-bedroom, 14-bathroom, 15,000-square-feet Beaux-arts home hits the market
    February 05, 2016 10:11AM
    Keith Rubenstein and 8 East 62nd Street on the Upper East Side

    Keith Rubenstein and 8 East 62nd Street on the Upper East Side (Credit: The Modlin Group)

    What would the South Bronx think? Somerset Partners’ Keith Rubenstein, whose “Piano District” project in Mott Haven unleashed a torrent of criticism, has put his opulent Upper East Side manse on the market for $84.5 million — one of the city’s priciest townhouse listings ever. [more]

  • Born, Drukier buy Midtown Hotel Elysee for $55M

    The 15-story, 103-key property is home to the Monkey Bar
    February 05, 2016 09:15AM
    Hotel Elysee Richard Born

    The Hotel Elysee at 60 East 54th Street in Midtown (inset: Richard Born)

    The operators of the 1920’s-era Hotel Elysee — home of the Monkey Bar – bought the building from its long-time family owners. [more]

  • HFZ seeks $250M from EB-5 investors for High Line condos

    Developer looking to build two towers on West 18th Street
    February 05, 2016 08:30AM By Konrad Putzier

    Ziel Feldman and a rendering of 518 West 18th Street on the High Line

    Ziel Feldman’s HFZ Capital Group is looking to raise around $250 million in EB-5 funds for its latest High Line condo development at 518 West 18th Street.

    The U.S. Immigration Fund, an EB-5 regional center, is handling the fundraising in two phases of more than $120 million each, and is currently raising cash under the first phase, CEO Nicholas Mastroianni told The Real Deal. [more]

  • Israeli-Russian billionaire adds to Fifth Avenue assemblage with $59M buy

    Boris Kuzinez is the mystery player behind a string of commercial deals in NoMad
    February 05, 2016 08:00AM By Will Parker and Kyna Doles

    Boris Kuzinez and 260-264 Fifth Avenue

    Israeli-Russian billionaire Boris Kuzinez purchased a 12-story commercial building at 260 Fifth Avenue for $59 million, his third buy on the block within the last year, city records show. [more]

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    February 05, 2016 07:30AM

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  • De Blasio announces Far Rockaway, Governors Island overhauls, but is mum on fate of affordable housing

    Mayor also talks up $2.5B Brooklyn-Queens streetcar project
    February 04, 2016 11:52PM By Kathryn Brenzel
    New York City Mayor Bill de Blasio delivers his State of the City address at Lehman College   in the Bronx on Thursday, February 4, 2016. The theme of the speech is One New York: Working For Our Neighborhoods. Michael Appleton/Mayoral Photography Office

    Mayor Bill de Blasio at Lehman College (credit: Michael Appleton/Mayoral Photography Office)

    Mayor Bill de Blasio teased future revitalization projects in Far Rockaway and Governors Island during his second State of the City address Thursday night, announcing only a few details on the major developments.

    The mayor said $91 million will be dedicated to Hurricane Sandy-battered Downtown Far Rockaway, an investment that will allow for a new library, new mixed-income housing and repairs to a recreation center. He also said that “millions of new square feet” will be added to Governors Island for “commerce, culture and research” and that buildings in the Historic District will be “revived.” The city plans to issue an RFP  to develop 33 acres on two development sites on the southern end of the island. The changes will include year-round access to the island, he said. [more]

  • You won’t believe who’s designing this Bronx police station: VIDEO

    Wunderkind architect Bjarke Ingels takes his talents to Melrose for latest project
    February 04, 2016 06:00PM By Alistair Gardiner

    Thanks to his larger-than-life designs for Two World Trade Center and Via 57 West (among others), Bjarke Ingels is swiftly becoming one of New York City’s hottest architects. Somewhat surprisingly then is his latest project, a 43,500-square-foot police station in the Bronx.

    Watch the video above to see the new headquarters for the NYPD’s 40th Precinct.

    For more videos, visit The Real Deal‘s YouTube channel.

  • Rangers star Henrik Lundqvist sells PH for $4.95M

    Goalie slashed price for the Midtown West condo
    February 04, 2016 05:40PM
    henriklundqvist link penthouse

    From left: Henrik Lundqvist (credit: My News Desk via Wikimedia Commons) and the penthouse at 310 West 52nd Street

    New York Rangers star Henrik Lundqvist finally sold his duplex penthouse at the Link at 310 West 52nd Street for $4.95 million, according to city property records. [more]

  • City planning a major development on Governors Island

    Mayor seeks space for cultural, tech or education institution on the former military base
    February 04, 2016 05:20PM
    Governors Island

    Governors Island

    Could Governors Island be the next apple in Mayor Bill de Blasio’s development eye? [more]

  • Slate, GreenOak land $285M Blackstone loan for RiverTower

    Buyers closed on $390M acquisition from Equity Residential this week
    February 04, 2016 04:55PM By Konrad Putzier
    From left: Slate's Martin Nussbaum, 420 East 54th Street and Blackstone's Mike Nash

    From left: Slate’s Martin Nussbaum, 420 East 54th Street and Blackstone’s Mike Nash

    Slate Property Group and GreenOak Real Estate secured a $248.6 million loan from Blackstone Real Estate Debt Strategies to finance their $390 million acquisition of the RiverTower, which closed this week. Blackstone is also providing a $36.4 million construction loan, property records filed Thursday show. [more]

  • Thor puts Dolce & Gabbana’s new Soho home on the market

    Luxury brand inked triple-net lease for full property at 155 Mercer last year
    February 04, 2016 04:45PM By Mark Maurer
    Dolce Gabbana Soho

    From left: rendering of 155 Mercer Street in Soho, Joseph Sitt and Helen Hwang

    Joseph Sitt’s Thor Equities is looking to sell a four-story Soho retail building fully leased to Dolce & Gabbana, in the hopes of scoring a sizable profit, sources told The Real Deal. [more]

  • Ex-Golden State Warriors owner buys $9.8M Plaza Hotel condo

    Chris Cohan sold the team in 2010
    February 04, 2016 04:30PM By Kathryn Brenzel
    1 Central Park South in (inset: Chris Cohan) (credit: Corcoran Group and SportsTwo)

    1 Central Park South (inset: Chris Cohan) (credit: Corcoran Group and SportsTwo)

    Maybe they’re both better off without each other?

    The not-so-popular former Golden State Warriors owner Chris Cohan has shelled out $9.8 million for new digs at the Plaza Hotel, according to city property records. Cohan and his wife, Angelina, purchased a three-bedroom, 2,418-square-foot condo unit at 1 Central Park South from the James B. Lindsey Jr. Family Trust. The unit was first listed for $11.9 million in January 2015 before several price chops. Charlie Attias of the Corcoran Group handled the listing. [more]

  • massage-at-home

    Use the Zeel app to book your next at-home massage

    1) You don’t have to stress about booking a massage with the Zeel app.

    2) The new book,“The Tall Trees of Paris,” takes you inside Paris’ contemporary art scene.

    3) Pay $102,000 to take selfies with penguins in the North and South Poles.

  • Hersha sells seven Manhattan hotels to China Cinda for $571M

    Chinese firm acquires 70 percent stake in limited service hotels totaling nearly 1,100 rooms
    February 04, 2016 03:59PM
    Holiday Inn Express Times Square

    The Holiday Inn Express Times Square at 343 West 39th Street (inset: Neil Shah)

    Hersha Hospitality Trust sold a 70 percent majority interest in seven Manhattan hotels to Chinese investment firm Cindat Capital Management in deal worth $571.4 million, the Philadelphia-based hotel operator announced Thursday. [more]

  • Queens hotel revenue still twice as big as Brooklyn’s: TRData

    Both posted substantial revenue gains last year, but Queens still king of the two
    February 04, 2016 03:17PM By Will Parker

    Did you know the Queens hotel market is bigger than Brooklyn’s (like a lot bigger)? Or that Queens hotels are now pulling in almost half a billion dollars annually? The Real Deal‘s new research outfit, TRData, has crunched the 2015 numbers on the Brooklyn and Queens hotel market. To see more charts and analysis on this subject, click here. And to get up-to-date info on the people, properties and companies that make headlines everyday visit the TRData homepage.

  • WeWork’s Adam Neumann buys 60-acre Westchester farm

    Eight-bedroom estate was on the market for $22M
    February 04, 2016 02:55PM
    Linden Farms at (inset: Adam Neumann)

    Linden Farm at 34 Boutonville Road in Pound Ridge and Adam Neumann

    Keep Manhattan, just give Adam Neumann that countryside. [more]

  • Lenders losing interest in financing high-end condo projects

    Developers remain bullish, but bankers spooked by supply glut
    February 04, 2016 02:30PM By Konrad Putzier
    Welcome to the lending desert: observers say some luxury condo projects are struggling to find funding

    Welcome to the lending desert: some observers say the luxury condo construction financing market is drying up (Central Park Tower rendering credit: New York YIMBY)

    Wary of a slowdown in high-end apartment sales and a potential supply glut, lenders are beginning to retreat from Manhattan’s luxury condominium market.

    Many banks are either cutting down their luxury condo construction lending or stepping away from the market altogether, according to brokers and lenders interviewed by The Real Deal. Developers, however, remain bullish that their product will sell, and are trying new avenues to obtain the financing. [more]

  • Did 220 Central Park South get a makeover?

    New images show design tweaks, including landscaped terraces
    February 04, 2016 02:10PM
    From left: Older rendering of 220 Central Park South, new rendering and Steven Roth

    From left: Older rendering of 220 Central Park South, new rendering and Steven Roth

    Vornado Realty Trust has kept a tight lid on plans for its uber-luxury tower at 220 Central Park South, but new images suggest that the Robert A.M. Stern-designed condominium has a bit of a different look. [more]

  • 250 buildings have more than 25K hazardous violations: HPD

    Agency has fined, taken landlords to court
    February 04, 2016 01:39PM
    90 Elizabeth Street Vicki Been

    90 Elizabeth Street in Chinatown (inset: Vicki Been)

    It must be name-and-shame season. Just a few months after Public Advocate Letitia James published her list of the city’s “worst” landlords, New York City Department of Housing Preservation and Development Commissioner Vicki Been this week published her own list that identifies 250 multifamily buildings with a combined 25,000-plus hazardous violations.

    These violations, which the city deems both “hazardous” and “immediately hazardous,” includes the presence of rats, inadequate fire exits, lead-based paints, and a lack of heat, hot water, electricity, or gas. Other more minor infractions include small leaks, chipping or peeling of paint. [more]

  • Pinnacle Group buys East Flushing rental building for $43M

    Apple Core Holdings was the seller, along with partners
    February 04, 2016 01:03PM By Ariel Stulberg
    142-20 Franklin Larry Horn William Kohane

    142-20 Franklin Avenue in East Flushing (inset from top: Larry Horn and William Kohane)

    Joel Wiener’s Pinnacle Group bought another rent-regulated property in the outer boroughs, picking up a 145-unit East Flushing multifamily building. [more]