WeWork bailout reduction eyed, agents revolt against StreetEasy price hike

A daily roundup of New York real estate news, deals and more for November 21, 2019

TRD New York /
Nov.November 21, 2019 07:15 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 7:15 p.m.

 

SoftBank executives are trying to reduce the $3 billion offer for WeWork stock made as part of its rescue package. The idea is to shrink the amount SoftBank pays to founders, employees and investors, notably co-founder Adam Neumann, according to sources. [Bloomberg]

The de Blasio administration Thursday released renderings of its proposed garment-making center in Sunset Park. The 200,000-square-foot center is aimed at retaining textile jobs from the rezoned Garment District in Midtown. [Crain’s]

 

City lays groundwork for affordable housing in Soho and Noho. A much anticipated report released by the city’s Planning Department has recommended a rezoning of the ritzy neighborhoods to allow for more ground-floor retail and subsidized apartments. [Gothamist]

 
From left: Jed Wilder, Bess Freedman, Richard Grossman, Josh Sarnell and Adam Mahfouda (Credit: Emily Assiran) 

From left: Jed Wilder, Bess Freedman, Richard Grossman, Josh Sarnell and Adam Mahfouda (Credit: Emily Assiran)

Agents revolt against StreetEasy price hike. After the Zillow-owned real estate listings service announced it would increase the cost to list a rental to $6 a day, brokerages and agents have equated the move to “price gouging.” Some are hoping an alternative — and free — listings platform will emerge. [TRD]

 
Keller William's Ilan Bracha (left) and B+B Capital's  Haim Binstock with 575 Fifth Avenue (Credit: Getty Images, Google Maps)

Keller William’s Ilan Bracha (left) and B+B Capital’s  Haim Binstock with 575 Fifth Avenue (Credit: Getty Images, Google Maps)

Keller Williams NYC is being sold. After churning through leaders and a drop in agent headcount, owners Ilan Bracha and Haim Binstock are planning to sell the Midtown office to Richard Amato, who owns other KW franchises. [TRD]

 

Morgan Stanley is expanding its Downtown footprint. The financial firm added 90,000 square feet to its offices at Brookfield’s One New York Plaza, where it now has 1.3 million square feet. [NYP]

 
Seth Schochet, Drew Goldsmith and 201 West 77th Street (Credit: Google Maps)

Seth Schochet, Drew Goldsmith and 201 West 77th Street (Credit: Google Maps)

The Olnick Organization is paying $100 million for an Upper West Side building. The firm, which owns thousands of units and 1 million square feet of commercial space, closed on the acquisition of the apartment building at 201 West 77th Street earlier this week. [TRD]

 

Hunts Point is set to receive a new marine terminal. The New York City Economic Development Corporation is reviewing proposals to construct a $25 million facility on the Bronx waterfront, in an effort to reduce the city’s reliance on trucking for distribution. [Crain’s]

 

A Japanese buyer makes New York entry with United Nations building. Shimizu Realty Development acquired the Albano building in Midtown East for $152 million, and secured an $84 million loan from Sumitomo Mitsui Banking Corporation to finance the transaction. [TRD]

 

Instagram influencer pays $22 million for a Park Avenue pad. Tanya Zuckerbrot, a nutritionist with an avid following on social media, and her husband Anthony Westreich, a real estate owner, picked up the apartment at 515 Park Avenue. [NYP]

 
Bhavana Chamoli and Michael Shah

Bhavana Chamoli and Michael Shah

Michael Shah’s ex-girlfriend arrested for assault charges. Bhavana Chamoli was taken into custody Wednesday, but Manhattan District Attorney Cy Vance’s office has no plans at this time to prosecute her. It comes after she accused Shah of domestic violence in September. [TRD]

 

Drug addiction non-profit secures lease at 711 Third Avenue. The Center on Addiction will take 30,000 square feet in the building, owned by SL Green Realty. Asking rent was $65 per square foot. [CO]

 

Lawyer who represented Matt Lauer relists Park Avenue apartment for $3.25 million. The price is a significant markdown from the $4.2 million William Zabel, who is also known for representing Howard Stern, sought for the unit at 850 Park Avenue in January. [NYP]

 

Compiled by David Jeans


Related Articles

arrow_forward_ios
Daily Digest Thursday

WeWork’s Dock 72 location off to slow start, Keller Williams product chief is out

REBNY pivots on politics; Newark sues NYC for sending homeless

REBNY pivots on politics; Newark sues NYC for sending homeless

The Daily Digest - Tuesday

Real estate funds target mom-and-pop investors, behind the Playboy Club’s downfall

Black Friday e-commerce grew while brick-and-mortar slipped, another socialist is running in Queens

Black Friday e-commerce grew while brick-and-mortar slipped, another socialist is running in Queens

New resi sale record in Red Hook, DJ Khaled eyes UES townhouse

New resi sale record in Red Hook, DJ Khaled eyes UES townhouse

Trump Tower discrepancy exposed; Christie’s agent allegedly hit female Lyft passenger

Trump Tower discrepancy exposed; Christie’s agent allegedly hit female Lyft passenger

The Daily Digest - Tuesday

Elizabeth Warren slams WeWork rescue package, investors scrutinize SoftBank’s bookkeeping

National Grid backs down, WeWork is getting its $3B tender offer

National Grid backs down, WeWork is getting its $3B tender offer

arrow_forward_ios