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

A daily roundup of New York real estate news, deals and more for November 27, 2019

TRD New York /
Nov.November 27, 2019 09:13 AM

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].

 

Documents show the Trump Organization reported different numbers — higher ones to lenders, lower ones to tax officials — for Trump Tower. The occupancy rate of its commercial space was listed as 11 to 16 percentage points higher over three consecutive years in filings to a lender than in reports to city tax officials. The Trump Organization attributed the discrepancy to different reporting requirements. [ProPublica]

 

Vacant Fifth Avenue storefronts are filled with Christmas cheer. To provide an uninterrupted stretch of holiday celebrations, the Fifth Avenue Association filled four vacant storefronts in an attempt to mask the decline of the retail market along the famed strip. [WSJ]

 
RedSky Capital's Benjamin Bernstein and 247 Bedford Avenue (Credit:  ICSC and Apple)

RedSky Capital’s Benjamin Bernstein and 247 Bedford Avenue (Credit:  ICSC and Apple)

A massive Brooklyn retail portfolio is being marked down. JZ Capital Partners, which oversees a $1 billion portfolio with its partner RedSky Capital, is writing down its $443 million stake in the portfolio by as much as $150 million. [TRD]

 

Retail landlords are bending to more flexible leases. A report issued by the Real Estate Board of New York found that retail rents along 11 of Manhattan’s 17 shopping corridors continued to decline. This has prompted some landlords to accept short-term leases with lower-credit tenants. [NYP]

 

Christie’s agent investigated for alleged Lyft fight with woman. Cristiano Moura was accused on social media of hitting and biting a fellow passenger in a shared ride. The brokerage said it is investigating. [TRD]

 

NYCHA’s monitor is being paid $600 an hour. The salary of Bart Schwartz, a former federal prosecutor who was appointed by Mayor Bill de Blasio, is part of his $12 million annual budget to turn the agency around. [The City]

 

A Downtown housing development has hit the market for $21 million. The eight-story building at 165 Eldridge Street includes a 15,000-square-foot commercial space occupied by the Chinese-American Planning Council. [Bowery Boogie]

 

Warehouse where HBO’s “The Deuce” was filmed is sold for $17.5 million. The 92,000-square-foot building at 780 East 135th Street in the South Bronx was acquired by H. Holding Group and Klosed Properties. The deal works out to $190 a square foot. [NYP]


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