Stribling’s old offices up for sale, WeWork sued over pregnancy discrimination

A daily round up of New York real estate news, deals and more for October 31, 2019

TRD New York /
Oct.October 31, 2019 03:55 PM
Daily Digest Thursday

Every weekday The Real Deal rounds up New York’s biggest real estate news. We update this page throughout the day, starting at 9 a.m.. Please send any tips or deals to [email protected]

This page was last updated at 3:55 p.m.

 

Adam Neumann accused of pregnancy discrimination. A complaint filed by Medina Bardhi with New York’s Equal Employment Opportunity Commission accuses the former WeWork CEO of demoting her twice after she revealed she was pregnant, and referring to her maternity leave as “retirement.” [NYT]

Robert Reffkin paid pocket change for a stake in what’s now a $6.4 billion company. The Compass chief paid $335.50 for his stake in Urban Compass in 2012. That and more came to light from evidence in a case brought by Avi Dorfman, who is suing to be recognized as a Compass co-founder. [TRD]

 

Elizabeth Stribling is selling her former Chelsea office. JLL Capital Markets is set to sell the property at 340 West 23rd Street, which housed Stribling’s Chelsea team before the company was purchased by Compass. [REW]

 

Jho Low to give up millions in assets in 1MDB scandal. The fugitive financier has given up his claim to assets including luxury apartments, jets, yachts and artwork that prosecutors claim he bought with stolen money. [TRD]

 

How to get away with [selling a] murder [house]. Properties where murders have taken place usually sell at a discount of 10 to 15 percent, according to Orell Anderson, a forensic real estate appraiser who specializes in valuing properties affected by a crime. [TRD]

 
Bill Ackman (Credit: Getty Images)

Bill Ackman (Credit: Getty Images)

Bill Ackman says WeWork’s worth is “zero.” The hedge fund manager said at a conference that WeWork “has a pretty high probability of being a zero for the equity, as well as for the debt,” adding that SoftBank should have “walked away.” [CNBC]

 

Meet the lawyer behind Adam Neumann’s $1.7 billion exit package. Corporate attorney Bob Schumer — brother of U.S. Sen. Chuck Schumer — proved an unlikely ally for founder and former CEO Neumann after the company’s failed IPO bid, helping him to secure the generous package as the company plans to lay off thousands of employees. [BI]

 

136 Clinton Avenue (Credit: iStock)

Here’s how to sell a haunted listing. The onus is on the agent to broach the issue with prospective buyers, and Keller Williams’ James Gibbs said it can be “ridiculously hard” to move haunted properties. Gibbs and Compass’ Micha Hendel talk through their tactics at two haunted New York City homes. [TRD]

 

Demi Moore’s former penthouse is asking $50 million. The triplex unit inside the iconic San Remo building at 145 Central Park West boasts U2 frontman Bono as one of its neighbors. Moore’s unit lingered on the market for years, selling for $45 million in 2017, down from an original ask of $75 million. [WSJ]

 
Heritage Equity Partners’ Toby Moskovits, Benefit Street Partners real estate managing director Micah Goodman, and the Williamsburg Hotel at 96 Wythe Avenue (Credit: Google Maps)

Heritage Equity Partners’ Toby Moskovits, Benefit Street Partners real estate managing director Micah Goodman, and the Williamsburg Hotel at 96 Wythe Avenue (Credit: Google Maps)

Toby Moskovits’ Williamsburg Hotel is headed for receivership. Moskovits’ Heritage Equity Partners defaulted on a $68 million mortgage and failed to secure refinancing. [TRD]

 

A new bill requires developers to set aside housing for homeless. The City Council is preparing to vote on the proposal, which is opposed by Mayor de Blasio and would require developers funded by the city to allocate 15 percent of their rental units to people living in shelters. [Gothamist]

 

Prologis CEO says the logistics business has legs for up to another 30 years. In an interview with Bloomberg, Hamid Moghadam also detailed the company’s expansion strategy. After purchasing Liberty Property Trust for $9.7 billion this month, the company added 107 million square feet of space to its portfolio. [Bloomberg]

 

Council approves plan to “revolutionize” NYC streets. The “streets master plan,” championed by Council Speaker Corey Johnson, requires the city to build more bike and bus lanes — and 1 million square feet of pedestrian walk space. [Gothamist]

 

Jennifer Lawrence selling her condo at 443 Greenwich Street. The newly married “Hunger Games” actress is asking $14.25 million, down from the $15.6 million she paid for it. [NYP]

 

German firm selling Times Square retail space at a loss. GLL Real Estate Partners, based in Munich, bought the 140 West 42nd Street space in 2014 for about $85 million, but is reportedly looking to sell it for $50 million — a sign of the times in a difficult market. [Crain’s]


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