Real estate in brief

TRD New York /
Sep.September 14, 2009 11:32 AM

Bid on the City ramps up auction schedule

Manhattan real estate auction Web site, Bid on the City, announced that it will start holding auctions on a weekly basis, due to mounting interest among both buyers and sellers. Vlad Sapozhnikov, the site’s co-founder and managing partner, said that since the Web site launched in May, the company has sold over $21 million in real estate. “We have been seeing an increasing number of properties submitted for sale, and more are coming in every day,” Sapozhnikov said in a press release. “We have just concluded the beta testing of our site and are now faced with huge backlog of both residential and commercial properties.” Properties hitting the block on Sept. 29, Oct. 6 and Oct. 13 are available for viewing online.

Tomorrow, the group will host an open house bus tour beginning at 11:45 a.m. to view six properties scheduled for auction that day. The bus will board outside the auction group’s office at 226 Fifth Avenue on the corner of 27th Street. The Real Deal looked at how Bid on the City auctions work in a May Webcast.

Architectural non-profit signs lease

The Architectural League has signed a three-year lease for a 3,275-square-foot Soho property at 594 Broadway. Paul Wolf, a principal with Denham Wolf Real Estate Services, represented the tenant, while Brian Steinwurtzel and Donna Vogel of Newmark Knight Frank represented the landlord. Although details on the signing price were not immediately available, the asking rate on the space was $39 per square foot.

Harlem building receives $2 million loan for improvements

The Community Preservation Corporation and the New York City Department of Housing Preservation & Development announced that they will provide an approximately $2 million permanent loan for a gut renovation of a five-story property at 404 Lenox Avenue in Harlem. The building will receive new plumbing and electrical systems, new windows and a roof replacement.

National September 11 Memorial & Museum signs lease

The National September 11 Memorial & Museum has signed a 4,700-square-foot lease at 20 Vesey Street. Robert K. Futterman & Associates’ director Michael Worthman and associate Brandon Singer represented the landlord and Cushman & Wakefield’s David Tricarico and Devon McBride represented the tenant. The museum and memorial is expected to move into the space in October this year. TRD

Related Articles

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

State Senator Julia Salazar and Assemblymember Harvey Epstein (Credit: Getty Images)

Pols take aim at private equity with new plan to tax mezz debt

Treasury Department watchdog is investigating the Opportunity Zone program (Credit: iStock)

Opportunity Zone investigation won’t derail developer investment, experts say

Clockwise from top left: Jim Whelan, Larry Silverstein, Helena Durst, Teodora Zobel, Jonathan Mechanic and Laurinda Martins, John Catsimatidis, Gary Barnett, Mark Weprin, Donovan Richards, Bruce Mosler, Adelaide Polsinelli and David Schechtman (Photos by Anuja Shakya)

Reflection, resentment and some remorse: Real estate’s mood at the REBNY gala

45-10 19th Avenue in Long Island City (Credit: Google Maps)

Broadway Stages plans another LIC film studio

Firefighters work to extinguish a fire as a building burns after an explosion on 2nd Avenue in March 26, 2015 (Credit: Getty Images)

$24K in rent set in motion the fatal 2015 East Village blast. Prison now looms for the landlord and contractors