REBNY pivots on politics; Newark sues NYC for sending homeless

A daily roundup of New York real estate news, deals and more for December 3, 2019

TRD NEW YORK /
Dec.December 04, 2019 09:02 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].

 

REBNY pivots on political strategy. The Real Estate Board of New York, under first-year president James Whelan, is moving toward coalition-building and other tactics to reverse the industry’s fortunes in Albany and City Hall. [TRD]

 

Even after concessions, Extell is slow to sell luxury condos. With challenges facing the luxury market, the developer still has 51 condos for sale at its 83-unit building on 95th Street and Third Avenue, where sales began in 2016. [Bloomberg]

 

New York City is sued for sending its homeless to Jersey. Newark is asking the courts to stop Mayor Bill de Blasio’s program that has relocated thousands of homeless-shelter residents to municipalities across the U.S. [WSJ]

 

The Palm is up for sale. A judge ruled the beloved New York steakhouse must be sold, after it filed for bankruptcy earlier this year amid a nasty dispute within the family that owns it. [Crain’s]

 

Colliers installs a new U.S. CEO. Gil Borok, who previously worked at CBRE for a decade, and most recently and more recently was COO of Colliers, will step into the top role at the commercial real estate and investment management firm. [CO]

 

Vornado secures an $800M refinancing for 650 Madison. The debt package was syndicated between Citi, Barclays, Goldman Sachs and BMO Harris Bank. [CO]

 

Columbia Property Trust and Normandy Real Estate Partners close on 250 Church Street acquisition. The joint venture paid $205.5 million for the Tribeca property and will redevelop it as a boutique office building — a change from the previous owner’s plan. [TRD]

 

Construction startup Katerra is shutting its Phoenix factory. The SoftBank-backed firm’s decision follows the departure of its co-founder in recent weeks. [TRD]

 

Hamptons real estate firms’ Zillow competitor to go live. The new portal, HamptonsRE.com, is the result of months of behind the scenes work by a coalition of brokerages to list properties in Long Island’s ritzy districts. [TRD]

 

Young Woo has built a winery in Argentina. The New York developer began the project, near Mendoza, following the financial crisis, and has now opened the 2,000-acre site. [TRD]

 

How to crush your job interview with Ryan Serhant. The TV-star broker reveals in a video interview with The Real Deal what it takes to win him over. [TRD]

 

Compiled by David Jeans


Related Articles

arrow_forward_ios
John Banks

High expectations: A look at John Banks’ 4 years at REBNY

John Banks

John Banks to step down as REBNY president

REBNY Awards

Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi

WeWork CEO Sandeep Mathrani and Softbank CEO Masayoshi Son (Credit: Mathrani by Neilson Barnard/Getty Images; Son by Alessandro Di Ciommo/NurPhoto via Getty Images)

WeWork asks landlords to cut rent bill as SoftBank abandons bailout

WeWork chairman Marcelo Claure (Photo by Chip Somodevilla/Getty Images)

WeWork lays off 250 more employees, but Covid-19 isn’t reason

Jim Whelan (Credit: Axel Dupeux)

“Crisis management:” James Whelan talks REBNY priorities

Zillow CEO Richard Barton (Credit: JD Lasica via Flickr, iStock)

Zillow slashes expenses by 25%, cancels revenue guidance

Is REBNY and StreetEasy’s decision a much-needed reprieve or data manipulation? (Credit: Pixabay)

Decision by StreetEasy, REBNY to stop market clock triggers debate

arrow_forward_ios
Loading...