Articles by Ben St. Clair

“Like a divorce with no prenup”: The story of how a century-old real estate dynasty got divided

“Like a divorce with no prenup”: The story of how a century-old real estate dynasty got divided

On August 19, 2014 lawyers for Robert and Laura Lemle met in a courtroom in Lower Manhattan. Litigation is a fact of life in...

“Like a divorce with no prenup”: The story of how a century-old real estate dynasty got divided
Inside Kushner Companies’ murky relationship with rent stabilization

Inside Kushner Companies’ murky relationship with rent stabilization

Jared Kushner’s habit of not properly filling out paperwork began years before his tenure at the White House. In...

Inside Kushner Companies’ murky relationship with rent stabilization
Meet the masters of single-family homebuilding in Brooklyn and Queens

Meet the masters of single-family homebuilding in Brooklyn and Queens

In a city of multibillion-dollar Manhattan skyscrapers, single-family home construction in the outer boroughs often goes unnoticed. But even...

Meet the masters of single-family homebuilding in Brooklyn and Queens
Chinese publisher pays $68M for Midtown dev site

Chinese publisher pays $68M for Midtown dev site

UPDATED, 2:35 p.m., May 24: WanXin Media purchased the Midtown office building and vacant lot at 7-15 West 44th...

Chinese publisher pays $68M for Midtown dev site
Treetop restructures debt on trio of Queens buildings with $55M loan

Treetop restructures debt on trio of Queens buildings with $55M loan

Treetop Development restructured its debt on three multifamily Queens buildings with a $54.7 million loan from ACORE Capital, documents...

Treetop restructures debt on trio of Queens buildings with $55M loan
The Bronx is bubbling: Investors are placing huge bets on the borough – but the numbers may not pencil out

The Bronx is bubbling: Investors are placing huge bets on the borough – but the numbers may not pencil out

The Bronx has become a destination for investors seeking high returns – not only in new development, which is, by any measure booming, but...

The Bronx is bubbling: Investors are placing huge bets on the borough – but the numbers may not pencil out
NY-Presbyterian stitches up $327M loan for Park Slope facility

NY-Presbyterian stitches up $327M loan for Park Slope facility

NewYork-Presbyterian secured $327 million in financing for its new Park Slope facility, city filings show. Bank of New York...

NY-Presbyterian stitches up $327M loan for Park Slope facility
Dubai-based brokerage Greenstone sues Mack Real Estate over fees from $100M Saudi Aramco investment

Dubai-based brokerage Greenstone sues Mack Real Estate over fees from $100M Saudi Aramco investment

Greenstone Equity Partners is suing Mack Real Estate Group and its affiliate Claros Mortgage Trust (CMTG) over a $1.8 million payment it says it...

Dubai-based brokerage Greenstone sues Mack Real Estate over fees from $100M Saudi Aramco investment
MDG, Housing Partnership buy 500-unit Bronx rental for $78M

MDG, Housing Partnership buy 500-unit Bronx rental for $78M

MDG Design & Construction and the nonprofit the Housing Partnership purchased the 498-unit Michelangelo Apartments rental building in the South...

MDG, Housing Partnership buy 500-unit Bronx rental for $78M
145 West 47th Street

Tribeach files plans for 27-story
Midtown hotel

Developer Tribeach Holdings filed plans Tuesday for a 27-story hotel at 145 West 47th Street. The hotel, situated between...

Tribeach files plans for 27-story
Midtown hotel
(Credit: New York City Rent Guidelines Board, Click to enlarge)

Do landlords make money under rent stabilization? Depends whom you ask

If you believe the Rent Guidelines Board, it’s a great time to be a landlord of rent-stabilized apartments. The...

Do landlords make money under rent stabilization? Depends whom you ask
Real estate investors pumped a record $3.3B into the Bronx in 2016

Real estate investors pumped a record $3.3B into the Bronx in 2016

The Bronx saw another spike in real estate investment last year, with a record $3.3 billion and over 14.2...

Real estate investors pumped a record $3.3B into the Bronx in 2016
Benenson, Mack may have to eat “extraordinary construction costs” at East Village site after all

Benenson, Mack may have to eat “extraordinary construction costs” at East Village site after all

Benenson Capital Partners and Mack Real Estate have again backtracked on plans to develop an East Village site. After complaining that $4.6 million worth...

Benenson, Mack may have to eat “extraordinary construction costs” at East Village site after all
Circle F files plans for 71-unit development near 5Pointz in LIC

Circle F files plans for 71-unit development near 5Pointz in LIC

The Feldman family’s Circle F Capital filed plans for an 11-story, mixed-use building in Long Island City with 71...

Circle F files plans for 71-unit development near 5Pointz in LIC
This Queens developer’s secret to building an empire? Family, and tax breaks

This Queens developer’s secret to building an empire? Family, and tax breaks

When the Ciampa Organization began developing multifamily apartments in the 1960s, New York’s housing market was on the way down....

This Queens developer’s secret to building an empire? Family, and tax breaks
Stagg Group files plans for 120-unit Bronx building

Stagg Group files plans for 120-unit Bronx building

The Stagg Group , one of the Bronx’s most active developers, on Wednesday filed plans for a six-story, mixed-used building...

Stagg Group files plans for 120-unit Bronx building
How one tweak to affordable housing policy could make a big difference for developers

How one tweak to affordable housing policy could make a big difference for developers

The federal formula used to determine affordable housing requirements in New York City actually includes income statistics from Westchester,...

How one tweak to affordable housing policy could make a big difference for developers
Here’s how de Blasio stacks up against Bloomberg on rezoning

Here’s how de Blasio stacks up against Bloomberg on rezoning

Throughout his mayoral campaign and his administration, Bill de Blasio has positioned himself as a champion of rezonings, calling...

Here’s how de Blasio stacks up against Bloomberg on rezoning
Meet one of NYC’s quietest landlord dynasties

Meet one of NYC’s quietest landlord dynasties

The long-awaited completion of the Second Avenue subway is expected to lead to rising rents on the Upper East...

Meet one of NYC’s quietest landlord dynasties
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Developer files plans for 43-unit South Bronx building

Private developer Paul Gjonaj filed plans to build a 43-unit apartment building in the South Bronx, according to property...

Developer files plans for 43-unit South Bronx building
Dunn files plans for 100K sf Bronx rental project

Dunn files plans for 100K sf Bronx rental project

UPDATED: Wednesday, Feb. 8 at 3:47 p.m.: Martin Dunn’s Dunn Development Corporation plans to build a 12-story rental property...

Dunn files plans for 100K sf Bronx rental project
Hamptons Cheat Sheet: New Yorkers “winter” on the East End, the biggest sales of 2016 … & more

Hamptons Cheat Sheet: New Yorkers “winter” on the East End, the biggest sales of 2016 … & more

Counting down the Hamptons biggest sales of 2016’s Although the Hamptons luxury market sputtered in 2016, celebrities and titans of industry certainly bought their fair share...

Hamptons Cheat Sheet: New Yorkers “winter” on the East End, the biggest sales of 2016 … & more
Tim Horne, acting head of GSA, has some very serious decisions to make

Tim Horne, acting head of GSA, has some very serious decisions to make

President Donald Trump has already made most of his critical cabinet and senior official appointments, and many of them...

Tim Horne, acting head of GSA, has some very serious decisions to make
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