The Real Deal New York

  • Tucker Reed joins Rabsky on DoBro project

    Former head of DoBro Partnership comes in on 36-story office tower planned at 625 Fulton
    January 17, 2017 06:40PM

    From left: 625 Fulton Street and Tucker Reed

    Tucker Reed’s new real estate consulting venture Totem is partnering with The Rabsky Group on its downtown Brooklyn office development at 625 Fulton Street. [more]

  • Russian bank seeks guarantor’s properties in $37M judgment

    Lender claims Igor Mavlyanov transferred assets to family members to shield them from creditors
    January 17, 2017 05:35PM By Rich Bockmann

    Igor Mavlyanov

    A Russian bank is suing to enforce a Moscow court’s $37 million judgment against Igor Mavlyanov, who a New York judge suggested may be a “young Donald Trump” for allegedly transferring New York and California properties to family members in an attempt to shield the assets from the bank’s reach.

    St. Petersburg-based VTB Bank, of which the Russian government is a majority shareholder, filed a motion in New York State Supreme Court on Friday seeking to enforce a Moscow court’s decision from April that ordered Mavlyanov to pay the bank $37 million in damages. [more]

  • American Eagle finds new nest on Lex

    Retailer to fully occupy adjacent Midtown East buildings
    January 17, 2017 04:49PM By Mark Maurer

    716-718 and 720 Lexington Avenue in Midtown East and American Eagle at 40 West 34th Street (Credit: Google Maps)

    American Eagle Outfitters inked leases for two adjacent Midtown East stores along Lexington Avenue, sources told The Real Deal. [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 17, 2017 04:23PM

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

  • Inside TheRealDeal
  • Don Lemon and the apartment at 2280 Frederick Douglass Boulevard (credit: CNN)

    From Luxury Listings NYCBreaking news: CNN anchor Don Lemon has sold his condominium unit in Harlem for $969,000. Lemon bought the apartment in 2014 for $889,000, netting him a tidy little profit. [more]

  • Louis C.K.

    From the January issue: Louis C.K. is walking, joke-cracking proof that the $3 million-and-below price point is the residential market’s sweet spot. Rather than blowing his comedy gold on one big New York City penthouse, he’s gobbling up lots of smaller units — mostly in the West Village — all priced well below $3 million.

    The Trumps aren’t the only ones with political aspirations. Paris Hilton has been known to tease fans about running for president. “Let’s Make America Hot Again #ParisForPresident,” she Instagrammed in November. But before you scoff, Hilton’s personal broker Jared Seligman of Douglas Elliman said Hilton is a heck of a lot smarter than she looks. [more]

  • Silverstein secures $153M refi for Far West Side dev site

    SL Green provided the financing
    January 17, 2017 02:35PM By Kathryn Brenzel

    From left: Marc Holliday, a previous rendering of 514 Eleventh Avenue and Larry Silverstein

    Silverstein Properties snagged a $153 million loan from SL Green Realty to refinance a large West Side development site. [more]

  • Leser lands $120M refi for DoBro office building

    Citigroup, Deutsche Bank replace GE Capital as lender on 111 Livingston
    January 17, 2017 02:19PM

    111 Livingston Street (Credit: Google Maps)

    Abraham Leser’s Leser Group refinanced its Downtown Brooklyn office building 111 Livingston Street with a $120 million loan from Citigroup and Deutsche Bank.

    The new mortgage refinances a $80 million CMBS loan originated by GE Capital in 2006, which matured on January 1.

    The Brooklyn landlord bought the 23-story, 397,650-square-foot tower in 1995. One of its tenants is the New York State Workers Compensation Board. [more]

  • Trump security drags down sales at Tiffany’s on Fifth Ave.

    Store near Trump Tower saw turnover drop 14 percent in last two months of 2016
    January 17, 2017 01:31PM

    Tiffany & Co at 727 Fifth Avenue and Trump Tower

    Sales at Tiffany & Co.’s flagship store on Fifth Avenue slumped over the holiday season and, according to the store, Donald Trump is partly to blame. [more]

  • The Real Deal is completely redesigning its Data Book, now in its 12th edition. The industry’s most comprehensive collection of information on the New York-area real estate market will sport more pictures and a new look, bringing more of the style and energy TRD‘s flagship magazine is well known for. [more]

  • City Connections, DSA Realty merge

    Combined firm set to control more than 250 rental building exclusives
    January 17, 2017 12:30PM By E.B. Solomont

    David Schlamm and Arik Lifshitz

    As the city’s biggest residential brokerages gobble up market share, two leading mid-sized players — City Connections Realty and DSA Realty —are merging, The Real Deal has learned.

    The newly combined company, which will do business as City Connections Realty, will operate out of CCR’s office at 71 West 23rd Street, the firms said Tuesday. DSA’s office at 113 East 12th Street will close at the end of the month. [more]

  • Welcome to the $1.16 trillion skyline

    City's tentative assessment for fiscal year 2018 is highest ever; Brooklyn sees big leaps
    January 17, 2017 12:20PM By Will Parker

    The total tentative market value for all assessed properties in New York City hit $1.16 trillion this year, an 8.74 percent increase from 2016, when the total crossed $1 trillion for the first time. That’s according to new data from the city’s Department of Finance. [more]

  • 212 Fifth developers sue Town over termination notice

    Sponsors allege brokerage missed sales targets but fought against being replaced
    January 17, 2017 11:30AM By Katherine Clarke

    Elaine Diratz, Robert Gladstone and a rendering of 212 Fifth Avenue

    “Do not go gentle into that good night,” Dylan Thomas urged. But following the Welsh bard’s advice in New York real estate could very well come with legal headaches. [more]

  • Vicki Been to step down as city’s housing czar

    EDC chief Maria Torres-Springer to take her place
    January 17, 2017 11:00AM

    Maria Torres-Springer and Vicki Been

    The latest trend at City Hall seems to be quitting while you’re ahead. Following an announcement last week that the city hit a 25-year affordable housing record, Vicki Been says she will step down as the city’s head of the Department of Housing Preservation and Development.

    Been, who de Blasio appointed in 2014, plans to teach at New York University and serve as faculty director of the Furman Center, Politico reported. Maria Torres-Springer, CEO of the New York City Economic Development Corporation, will take Been’s place Feb. 6. De Blasio has appointed James Patchett, Alicia Glen’s chief of staff, as head of the EDC. [more]

  • Bed Bath & Beyond takes 79K sf at two Hudson Sq. buildings

    Retailer is opening photo and design studios at the Jack Resnick-owned properties
    January 17, 2017 10:30AM

    250 and 315 Hudson Street

    Bed Bath & Beyond signed two 10-year office leases for a combined 79,000 square feet at separate Jack Resnick & Sons-owned properties in Hudson Square. [more]

  • Hermès inks 10-year lease for new Meatpacking District store

    The new space on Gansevoort Street will span 10K sf
    January 17, 2017 10:13AM

    Rendering of 60-68 Gansevoort Street and a Birkin Bag

    High-end handbag purveyor Hermès is opening a new 10,000-square-foot store on Gansevoort Street. [more]

  • Fox, News Corp. to expand at 1211 Sixth

    Murdoch-owned companies nixed a move to 2 WTC last year
    January 17, 2017 09:17AM

    From left: Rupert Murdoch and 1211 Sixth Avenue

    Almost a year after abandoning plans to move to 2 World Trade Center, 21st Century Fox and News Corp. have officially decided to stay at their Sixth Avenue headquarters. [more]

  • Paydirt: The talented Mr. Haddow, Thor loses some thunder,
    4 Times Square flurry … & more

    The industry news you need to start your week, and what’s ahead
    January 17, 2017 08:30AM By Hiten Samtani

    Clockwise from top left: Renwick Haddow, President Obama, Joseph Sitt, Douglas Durst and 4 Times Square

    The prize went from palm oil plantations in Sierra Leone to desks in co-working spaces in New York. Otherwise, the game remained the same.

    Renwick Haddow, the alleged mastermind of a vast international Ponzi scheme that bamboozled “sucker lists” of British retirees, has found his way to New York’s real estate market through a co-working startup called Bar Works. His involvement is hidden: Though he negotiated the company’s leases, signed the purchase document for its building in California and applied for its liquor licenses, he’s a ghost, appearing nowhere on Bar Works’ marketing materials. Instead, the company is billed as a startup founded by Jonathan Black and Zoe Miller. It offers investors long-term leases on individual desks in its spaces, promising them double-digit annual returns and guaranteeing buy-backs.

    Here’s where things begin sounding like bad John le Carré fan fiction. [more]

  • DOB ramps up construction violations following high number of on-site deaths: report

    The agency pledged to increase enforcement
    January 17, 2017 07:45AM By Kathryn Brenzel

    Worth Street following the Feb. 5 crane accident

    The city ramped up enforcement against construction violations following a large number of accidents and deaths on worksites in the past two years.

    In February, the Department of Buildings pledged to increase oversight on construction job sites, and a new study shows the agency has acted on that pledge. The month after the announcement, construction violations soared 46.8 percent year-over-year, jumping to 4,004 in March 2016 from 2,727 in March 2015, according to a report by real estate compliance company SiteCompli. Violations continued to grow through June, which saw 3,762 violations that month — a 21-percent increase from June 2015. [more]

  • The Closing: Andrew Heiberger

    The Town Residential founder on his lack of corporate training, his multimillion sale of Citi Habitats, and his upcoming nuptials
    January 17, 2017 07:00AM By Katherine Clarke

    Andrew Heiberger (credit: Marc Scrivo)

    From the January issue:  Andrew Heiberger is the founder and CEO of the Manhattan-based residential brokerage Town Residential, which he launched in 2010. He sold his previous company, Citi Habitats, to competitor NRT Incorporated for $49.6 million in 2004. Before starting Town, Heiberger was a developer with the boutique firm Buttonwood Real Estate and converted such buildings as 88 Greenwich Street, a 37-story office tower in the Financial District, and One Rector Park, a 174-unit rental property in Battery Park City, into condominiums.

    Heiberger recently bought his former partner, Joseph Sitt of Thor Equities, out of his stake in Town for an undisclosed sum, making Heiberger the sole owner of the approximately 500-agent company. The two had a long, contentious relationship marked by dueling lawsuits over the company’s finances. [more]