Articles by Rich Bockmann

Tillary Hotel at 85 Flatbush Avenue (Image via Kutnicki Bernstein Architects)

Isaac Hager’s Downtown Brooklyn hotel heads to foreclosure

UPDATED, Sept. 18, 4:33 p.m.: A Downtown Brooklyn hotel that provided housing for the homeless is facing foreclosure. The...

Isaac Hager’s Downtown Brooklyn hotel heads to foreclosure
Serdar Bilgili and Michael Shvo (Illustration by Paul Dilakian for The Real Deal)

Inside the ugly dispute between Michael Shvo and his partner pal

Michael Shvo’s rule-breaking had finally caught up with him. The controversial broker-turned-developer was sidelined on more than $2 billion...

Inside the ugly dispute between Michael Shvo and his partner pal
Regus CEO Mark Dixon with 175 Pearl Street in Brooklyn, 1325 Sixth Avenue and 1501 Broadway (Regus, Google Maps)

Regus throws 6 NYC locations into bankruptcy

Short-term office company Regus put half a dozen of its New York City workcenters into bankruptcy as the company...

Regus throws 6 NYC locations into bankruptcy
One Vanderbilt (Credit: Max Touhey)

SL Green opens One Vanderbilt as leaders urge return to office

Grand openings for major Manhattan office towers tend to be self-congratulatory celebrations, marked by proclamations about the city’s bigger...

SL Green opens One Vanderbilt as leaders urge return to office
Amol Sarva and 110 William Street (Google Maps)

Knotel wants out at 10 Manhattan locations

Knotel is looking to get out of 10 Manhattan locations with lease commitments of nearly $200 million as the company clashes with landlords over unpaid rent. The flex-office startup, valued at $1.6 billion in...

Knotel wants out at 10 Manhattan locations
SL Green CEO Marc Holliday and 185 Broadway (Photos via SL Green)

SL Green looks to sell FiDi mixed-use development

SL Green Realty is looking to sell its nearly finished Financial District residential project, which could be valued at...

SL Green looks to sell FiDi mixed-use development
WeWork CFO Benjamin Dunham and Kimberly Ross (LinkedIn)

WeWork shakes up chief finance post

WeWork is swapping out its finance chief after just six months. The shared-office giant’s CFO Kimberly Ross, who took the position in March, will be stepping down at the end of this month, WeWork...

WeWork shakes up chief finance post
Ayush Kapahi, Zhang Xin and Danny Wrublin with 18 India Street (Linkedin, Getty, Google Maps, Wrublin by Chance Yeh)

Chinese billionaire unloads debt on struggling Greenpoint project

One of the largest investors eying bad real estate loans in New York has met head-on with one of...

Chinese billionaire unloads debt on struggling Greenpoint project
Hilton CEO Christopher Nassetta and the hotel at 234 West 42nd Street (Google Maps; Getty; Hotel Planner)

Hilton Times Square to close permanently

The Hilton hotel in Times Square is closing its doors permanently. The 478-room hotel at 234 West 42nd Street disclosed its plans to permanently shutter in a filing with the New York State Department...

Hilton Times Square to close permanently
From left: Holiday Inn Express at Wall Street, Cindat CEO Greg Peng and Holiday Inn Express at Times Square (Credit: IHG/Booking and Cindat)

Cindat looks to sell stake in Manhattan hotel portfolio at discount

A Chinese private equity firm is looking to sell a stake in its large Manhattan hospitality portfolio at a...

Cindat looks to sell stake in Manhattan hotel portfolio at discount
The Row Hotel at 700 8th Avenue Neil Luthra (Google Maps; Getty Images)

Break-up: NY’s biggest hotel owner splits with senior exec

In the latest sign of the tumult unnerving the city’s hospitality industry, New York City’s largest hotel owner has...

Break-up: NY’s biggest hotel owner splits with senior exec
Paul Vanderslice (Linkedin)

CMBS vet Paul Vanderslice exits CCRE

The head of one of the commercial mortgage industry’s big bookrunners has left the firm he was brought on to reboot just two years ago. Paul Vanderslice, who helped pioneer the market for commercial...

CMBS vet Paul Vanderslice exits CCRE
Empire State Realty Trust CEO Anthony Malkin and the Empire State Building (Photos via Getty Images)

Empire State Realty cancels dividend for rest of 2020

The owner of the Empire State Building canceled plans to pay dividends to shareholders for the remainder of the...

Empire State Realty cancels dividend for rest of 2020
Edward Minskoff and 1166 Sixth Avenue (Getty, Google Maps)

Management consulting firm inks big lease at Minskoff’s 1166 Sixth

A consulting firm just signed one of the largest office leases of the Covid era in Midtown. FTI Consulting...

Management consulting firm inks big lease at Minskoff’s 1166 Sixth
729 Seventh Avenue and Erica Tishman (Google Maps, Getty)

Husband of falling-facade victim files wrongful-death suit

The widower of the woman killed last winter by terra-cotta falling in Midtown has filed a wrongful-death lawsuit against...

Husband of falling-facade victim files wrongful-death suit
Staten Island Marine Development's Thomas DelMastro and the site at 4101 Arthur Kill Road (Credit: Richmond University Medical Center; Google Maps)

Developer of Amazon’s Staten Island campus claims conspirators cut it out of another lucrative deal

A company that played a key role in bringing Amazon and Ikea to a huge e-commerce campus on Staten Island claims a cast of...

Developer of Amazon’s Staten Island campus claims conspirators cut it out of another lucrative deal
Ben Bernstein and David Zalaznick (iStock, ICSC, Columbia)

Bernstein and Zalaznick’s firm says stakes in Brooklyn, Miami projects now worthless

The private equity firm behind a $1 billion real estate portfolio in Brooklyn and Miami said its investments in...

Bernstein and Zalaznick’s firm says stakes in Brooklyn, Miami projects now worthless
Critics say REIT stock buybacks aren’t working as planned, but while the pandemic has paused some such efforts, others have continued. 

Buyback blowback: REITs that repurchased stock now need cash

New York City’s largest office landlord has been hellbent on shrinking its portfolio over the past few years. Instead...

Buyback blowback: REITs that repurchased stock now need cash
Amazon CEO Jeff Bezos and Facebook CEO Mark Zuckerberg (Getty, iStock)

Tech deals give hope to shaky office market

Amazon and Facebook both made major commitments in the past two weeks to a New York City office market with an uncertain future. But that shot in the arm belies the fact that many...

Tech deals give hope to shaky office market
Ashkenazy Acquisition CEO Ben Ashkenazy and the Surrey Hotel at 20 East 76th Street (Google Maps; iStock; Pixabay)

Ashkenazy gives up claim to Surrey Hotel, but wants the furniture

Ben Ashkenazy is giving up his claim to the bankrupt Surrey Hotel, but he’s holding onto the furniture. The...

Ashkenazy gives up claim to Surrey Hotel, but wants the furniture
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