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

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


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