The Real Deal New York

  • Buyer of $46M pad at 432 Park sues over “catastrophic flood”

    Mystery owner wants $12M deposit back from Macklowe, CIM Group
    January 23, 2017 07:46PM By Konrad Putzier

    432 Park Avenue

    An indoor waterfall can be a neat penthouse amenity — less so if it’s caused by a burst pipe.

    The mystery buyer of a $46.25 million apartment at CIM Group and Macklowe Properties’ condominium tower 432 Park Avenue is suing to get her or his $11.56 million deposit back, alleging that a water leak damaged the unit. [more]

  • Here’s what the $10M-$20M investment sales market looked like last week

    Albert Malekan picks up LES office building for $17M, Luthien buys EV rental for $13M
    January 23, 2017 06:15PM By Chava Gourarie

    460 Broome Street in Soho and 114 East 7th Street in the East Village

    In the world of mid-market New York City investment sales last week, Albert Malekan purchased a five-story Soho office building for $17 million, and the Luthien Group bought a rental building in the East Village for $13.8 million. [more]

  • Going, going, gone: The snazziest pads to depart from the market this week

    Although, we suspect we'll see some of them again soon.
    January 23, 2017 05:41PM By Liz Lucking

    1110 Park Avenue G

    From Luxury Listings NYC: Thanks to our friends over at StreetEasy, we’re rather on top of this city’s real estate comings and goings — emphasis on goings.

    This week, a handful of pricey pads left the market, and here are the ones we’re saddest to see go — although, we rather suspect we’ll see some of them again soon, perhaps with a new price tag. [more]

  • John Jacob Astor farmhouse to get mansion treatment

    Owner paid $31M for five-story property on West 10th Street in April
    January 23, 2017 05:00PM By E.B. Solomont
    21 West 10th Street

    21 West 10th Street

    A farmhouse once owned by John Jacob Astor is poised to become one of the West Village’s newest mansions. [more]

  • Inside TheRealDeal
  • Doris Roberts and her apartment at 200 Central Park South

    From Luxury Listings NYC: The estate of Doris Roberts, the late actress best known for playing Ray Romano’s mother on “Everybody Loves Raymond, put her tony, five-bedroom Central Park South duplex on the market. [more]

  • Retail faces a bleak future in NYC

    Online competition cuts into earnings - and rents
    January 23, 2017 03:55PM

    Macy’s on 34th Street

    Manhattan’s retail rents fell in 2016, but some market observers predict the slide is only the beginning. The culprit: online retailers. [more]

  • Bill de Blasio and Carlo Scissura (Credit: Getty Images)

    Mayor Bill de Blasio urged the New York Building Congress on Monday to put pressure on Albany to expand design-build authority to New York City.

    “It’s something we all know will help us get a lot more done more quickly, but we’re going to need your help in Albany,” the mayor said to members at a luncheon at the Pierre on Monday. “There’s a lot of reach in this room. There’s a lot of firepower in this room. We need your voices to be heard in Albany.” [more]

  • From the January issue’s “In their words” feature, a roundup of the funniest and most insightful comments on real estate:

    To read other smart and/or funny sayings, click here for the full feature.

  • Another round: Brooklyn Brewery to stay in W’burg

    Beer company reverses plans to take 75k sf at Brooklyn Navy Yard
    January 23, 2017 02:15PM

    The Brooklyn Brewery at 61-71 Wyth Avenue in Williamsburg and Steve Hindy (Credit: Brooklyn Brewery)

    Brooklyn Brewery ordered up another round at its Williamsburg digs, ditching plans to move to the Brooklyn Navy Yard when its lease expires. [more]

  • Trump promised to resign from his companies — but there’s no record he’s done so

    To transfer control of his companies, he has to submit filings in Florida, Delaware and NY
    January 23, 2017 01:45PM By Derek Kravitz and Al Shaw for ProPublica

    Donald Trump (Credit: Getty Images)

    At a news conference last week, now-President Donald Trump said he and his daughter, Ivanka, had signed paperwork relinquishing control of all Trump-branded companies. Next to him were stacks of papers in manila envelopes — documents he said transferred “complete and total control” of his businesses to his two sons and another longtime employee. [more]

  • The Real Deal’s South Florida print edition is going quarterly!

    Print edition puts a spotlight on big issues grappling the market and more
    January 23, 2017 01:15PM
    The Real Deal South Florida's latest October 2016 magazine

    The Real Deal South Florida’s latest October 2016 magazine

    Your most trusted resource for South Florida real estate news is getting bigger. Twice as big, to be exact.

    After years of publishing two magazines a year, we’re answering your call for more coverage on one of the country’s hottest markets. The Real Deal South Florida’s print edition is going quarterly, bringing you four issues each year packed with in-depth market analysis, rankings of industry heavyweights and insider info you can’t find anywhere else.

    Real estate players know better than anyone else that timing is everything, so reserve your advertising space for the upcoming issues ahead of time, starting with our March 2017 market report. The deadline for reservations is Feb. 17.

    Here’s our tentative list of editorial coverage for the March issue:

    • Ranking the top residential agents in South Florida
    • Deep dive into Miami’s Design District, including the top retail deals and developments
    • A breakdown of the commercial market along Miami’s Flagler Street
    • Highlighting the most unusual luxury condo amenities
    • Spotlight on Brickell

    Check out our latest October 2016 magazine here.

    To get a copy of the inaugural print edition or for a media kit — and for all other advertising inquiries — please contact Chris Cuomo or email

  • Brexit leading to uncertainty in London: Blau

    Related is developing some 13K resi units across the pond
    January 23, 2017 12:30PM

    Big Ben and Jeff Blau

    The Related Companies’ Jeff Blau is circumspect on London’s luxury real estate market as the U.K. gets ready to break from the European Union. [more]

  • Lexin pays $155M for Barings’ 551 Madison

    Principal Life upped existing loan on 17-story Midtown office building to $85M
    January 23, 2017 12:00PM By Mark Maurer

    551 Madison Avenue and Metin Negrin

    Metin Negrin’s Lexin Capital closed last week on the $155 million purchase of a 17-story Midtown office building at 551 Madison Avenue from Barings, formerly known as Cornerstone Real Estate Advisers, sources told The Real Deal. [more]

  • Two Sigma inks lease at Cornell Tech

    Investment firm to open 9K sf "Collision Lab" on Roosevelt Island
    January 23, 2017 11:32AM

    Rendering of The Bridge at Cornell Tech (Credit: Steelblue / Forest City Ratner Companies)

    The Bridge at Cornell Tech — designed to be a hub where tech businesses and academics meet — signed its first private tenant. [more]

  • The week in luxury: A map of NYC’s priciest apartment sales

    An interactive look at where the biggest deals were struck, plus total overall sales and average prices for the week (click on numbers to see data)
    January 23, 2017 11:00AM

    Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales. Click here to see this week’s version.

  • Lawyers to sue Trump over payments from foreign gov’ts

    Group argues leases, room bookings violate US Constitution
    January 23, 2017 10:31AM

    From left: Trump Tower, Donald Trump and Trump International Hotel (Credit: Gage Skidmore/Flickr and Trump Hotels)

    A group of constitutional and ethics lawyers are planning to sue Donald Trump, arguing that payments his businesses receive from entities tied to foreign governments violates the United States Constitution. [more]

  • Rudin, Boston Properties land $250M loan at Navy Yard

    WeWork will anchor the $410M Dock 72 office building
    January 23, 2017 10:05AM

    Rendering of Dock 72 and Michael Rudin (Credit: S9 Architecture and Getty Images)

    Who says the market for construction finance is dead? Rudin Management and Boston Properties landed a $250 million loan for Dock 72, their tech-focused office building at the Brooklyn Navy Yard. [more]

  • “If Hillary runs, I won’t”: Catsimatidis on potential mayoral bid

    The grocery and real estate billionaire is still considering a run
    January 23, 2017 09:44AM By Will Parker

    Red Apple Group’s John Catsimatidis and his daughter Andrea Catsimatidis (Credit: Will Parker, click to enlarge)

    In an interview at the Ritz Carlton hotel in Washington, D.C., this weekend, Red Apple Group CEO John Catsimatidis told The Real Deal he’s not ready to say whether he’s running for mayor until a certain prominent Democrat makes a move first. [more]

  • Cuomo raises $4.4M with help of real estate donors

    Fisher Brothers, Keith Rubenstein & Exact Capital among first-time benefactors
    January 23, 2017 09:18AM

    Andrew Cuomo and Keith Rubenstein (Credit: Getty Images)

    Fisher Brothers, Keith Rubenstein and Exact Capital were some of the new real estate-industry donors who helped Gov. Andrew Cuomo raise $4.4 million worth of campaign cash over the past six months. [more]

  • Luxury contracts slowed in mid January: Olshan

    Quick start to 2017 cools, though activity still higher than 2016
    January 23, 2017 08:42AM

    From left: 210 West 77th Street and 1110 Park Avenue

    The luxury market’s simmering start to the new year has cooled, though it’s still warmer than it was at this point last year.

    Prospective buyers signed 18 contracts last week at $4 million and above, which was a slower pace than the 50 contracts they had signed over the previous two weeks, according to the Olshan Realty luxury market report for the week of Jan. 16-22.

    Activity during the first two weeks of 2017 tied 2014’s record for the quickest start to a new year. And while last week showed the number of luxury signings start to slow down, it was still more than the 15 deals inked during the same week a year ago. [more]