This state senator wants to run for comptroller, meet WeWork’s board: Daily digest

A daily round up of New York real estate news, deals and more for August 23, 2019

TRD New York /
Aug.August 23, 2019 04:00 PM
Every day, The Real Deal rounds up New York’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page at 9 a.m., 12:30 p.m., and 4 p.m. ET. Please send any tips or deals to [email protected]

This page was last updated at 4 p.m.

 


Produced by Sabrina He

 

Developer turned Democratic state Sen. Brian Benjamin is mulling a run for New York City comptroller. The former managing director at real estate firm Genesis vowed in 2017 to push for the closure of Rikers. The Harlem lawmaker has yet to form a campaign committee and endorsed Kamala Harris for president in July. [City & State]

 

The elevator that fatally killed a man on Thursday passed inspection this month. Maintenance mechanics and third-party inspectors conducted the test at 344 Third Avenue on Aug. 2. The 23-story building, however, has been targeted for poor elevator maintenance before. [TRD

 

Meet WeWork’s board of directors. The company revealed the identity of the directors ahead of their parent the We Company’s  anticipated public offering. TRD rounded up what you need to know about all six members. [TRD

 

A tech company is moving to pricey Fifth Avenue digs. Unqork is subleasing almost 40,000 square feet from Univision Communications at 114 Fifth Avenue. [TRD]

 

The Related Companies’ Stephen Ross resigned from the National Football League’s social justice committee this week. The developer cited Trump’s remarks calling protests against police violence started by Colin Kaepernick in 2016 “unpatriotic.” The Hudson Yards developer received significant pushback for hosting a Trump fundraiser earlier this month. [Yahoo]

 

Nightingale Properties and Wafra Capital Partners picked up the Coca Cola building at 711 Fifth Avenue for $907 million with a $700 million loan from JP Morgan Chase. The deal was brokered by Cushman & Wakefield’s Doug Harmon, Adam Spies, Kevin Donner and Avery Silverstein. The 17-story 354,000 square foot Beaux Arts building from 1927 was designed by Floyd Brown. [CO]

 

Retail suffered losses ahead of the coming tariffs on Chinese goods. Big retailers’ second quarterly earnings reports highlight new strategies to stay afloat amid e-commerce and the war on brick and mortar. [TRD]

 

Billionaire David Koch died at 79 on Friday. He was the 11th richest person in the world, and among his real estate deals in New York City was the former home of Jacqueline Kennedy Onassis, which he bought in the 1990s for $9.5 million and sold in 2006 for $32 million. [TRD]

 

Game, set, pay your rent? Days before the start of the United States Open, the U.S. Tennis Association owes back rent — $311,000, all told. The tournament operator underreported income for four consecutive years, according to comptroller Scott Stringer, who is threatening to pull their lease on the Billie Jean King National Tennis Center. The private entity has been at the stadium since 1993. [NYT]

 

NYCHA probably can’t fix its lead problem. Six months after the beleaguered city agency promised to deal with the problem, a curt two-page filing sent to federal monitor Bart Schwartz explained that the authority may not be able to. In the filing, NYCHA General Manager Vito Mustaciulo cites a lack of “adequate procedures,” IT (technology) controls, recordkeeping and/or quality assurance monitoring as to a number of (lead paint) abatement requirements.” [The City]

 

Di Fara’s is back open after agreeing to settle its $167,000 tax bill. Mayor Bill de Blasio took a gentler tack with the beloved pizza parlor, which had closed briefly due to unpaid taxes. [Crain’s]

 

There may have been warning signs at the building where Samuel Waisbren was tragically killed yesterday. The Department of Buildings issued a cease use order to a different elevator at the same building in May, when a part that prevents the elevator from opening between floors malfunctioned. The order was lifted in June. [TRD]

 

George Takei is parting with his New York City pad. The former Star Trek star listed his one-bedroom on Billionaires’ Row for $1.35 million after buying it for $475,000 in 2001. The Metropolitan Tower unit is available for rental use or pied a terre and it can even come partially furnished. [NYP]

 

Tenants got handed a victory when another J-51 lawsuit was granted class action status. The suit, brought by the tenants of 111-32 76th Avenue, alleges the landlord illegally deregulated units while receiving tax benefits. Queens County Supreme Court Judge Timothy J. Dufficy ruled in favor of the tenants in the rental building owned by Landau Real Estate. [TRD]

 

Keller Williams Midtown is paring down its expenses in the latest sign of a difficult market. An internal email shared with TRD revealed that the franchise of the Austin-based brokerage is relocating from its current 29,000-square-foot office space on 1155 Avenue of the Americas to a WeWork at 575 Fifth Avenue. [TRD]

 

Compiled by Georgia Kromrei

 

FROM THE CITY’S RECORDS: 

 

Commercial sales:

The Parkoff Organization sold 30 East 68th Street in Lenox Hill for about $56.8 million. [ACRIS]

 

Compiled by Mary Diduch


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