The Real Deal New York

  • From the February issue’s “In their words” feature, a roundup of the funniest and most insightful comments on real estate:

    To read other smart and/or funny sayings, click here for the full feature.

  • Japanese firm snags 20 percent stake in CIM

    Mitsui will contribute $450-500M to funds managed by firm
    February 20, 2017 01:20PM By Katherine Clarke

    From left: Tatsuo Yasunaga and Avi Shemesh

    UPDATED, Feb. 20, 5:13 p.m.: Japanese trading conglomerate Mitsui & Co. will acquire a 20 percent stake in Los Angeles-based real estate investment firm CIM Group, it announced Monday.

    Mitsui (Note: Correction appended) will also contribute between $450 and $550 million toward funds managed by CIM, it said. The two firms have established a dedicated investment vehicle to manage those funds, known as Sabre Investments LLC. [more]

  • Renderings unveiled for Union Square Tech Hub

    RAL Development Services planning 258K sf building on East 14th Street
    February 20, 2017 12:55PM

    Renderings of Union Square Tech Hub (Credit: Mayor’s Office of New York City via DNAinfo

    RAL Development Services revealed renderings for its 258,000-square foot project on the site of the P.C. Richard & Son store in Union Square. [more]

  • Massey pushing for probe into de Blasio’s legal representation

    Republican mayoral candidate has written to Manhattan DA and US attorney
    February 20, 2017 12:30PM

    From top: Paul Massey (Credit: Larry Ford) and Bill de Blasio

    Real estate executive and mayoral candidate Paul Massey is turning up the heat on his opponent Bill de Blasio, claiming the mayor’s arrangement with a law firm could be in violation of criminal and state laws. [more]

  • Inside TheRealDeal
  • Robert Durst says it was “stupid” to agree to “The Jinx”

    Court plays real estate scion’s recorded jailhouse phone calls
    February 20, 2017 11:10AM

    Robert Durst (Credit: HBO)

    The D stands for “duh.”

    Embattled real estate scion Robert Durst has come to the conclusion that it was “stupid” of him to participate in the HBO documentary series in which he appeared to cop to the 2000 murder of his friend. [more]

  • Buy your tickets for TRData’s Big Data + Real Estate Forum

    Hear top data execs, network and attend launch of The Real Deal's new research site and data division
    February 20, 2017 10:20AM

    To get an edge on the fiercely competitive world of New York City real estate, insiders are turning more frequently to Big Data and technology.

    In response to the expanding demand for actionable intelligence in one of real estate’s most dynamic fields, The Real Deal is hosting a Big Data + Real Estate Forum on March 9 in Midtown.

    The Real Deal is bringing together some of New York City’s most knowledgeable Big Data and technology executives to discuss where they find cutting-edge information and how they process and deliver it to their employees, agents and clients.

    The morning event, which will also formally launch The Real Deal‘s research site TRData, begins with a networking breakfast followed by the first panel, “Big Data 2020: Exploring the next wave of real estate technology and information.” That is followed by a short coffee break, then the second panel, “Uncovering and navigating today’s flood of real estate data.”

    Confirmed speakers include Doug Curry, CEO of Xceligent; Michael Mandel, CEO of CompStak; Yale Fox, CEO of Rentlogic; Caren Maio, CEO of Nestio; Harley Courts, CEO of Nooklyn; Richard Sarkis, CEO of Reonomy; David Eisenberg, SVP of CBRE; Nick Romito, CEO of VTS; and Jonathan Greenspan, President of On-Line Residential. Stay tuned for updates on additional speakers.

    The location of the event is Kramer Levin Naftalis & Frankel’s offices at 1177 Sixth Avenue. Click here to purchase your tickets and find out more about the event.

  • Neighbors angry about ex-Trump campaign manager’s brownstone “dump”

    They say Paul Manafort’s place on Union Street is an eyesore and ruining the street
    February 20, 2017 09:55AM

    377 Union Street in Carroll Gardens and Paul Manafort (Credit: Getty Images)

    Paul Manafort, President Trump’s former campaign manager who resigned amid his alleged links to Russia, is facing a controversy of an entirely different nature. His neighbors are complaining his ill-kempt Caroll Gardens brownstone is making the rest of the street look bad. [more]

  • Last week’s priciest home sold in two weeks: Olshan

    Average days on market stands at 415 so far this year, a 32% increase
    February 20, 2017 09:03AM

    From top: Penthouse at 4 East 72nd Street and 30 Park Place, unit 73A

    At a time when the average residential listing takes more than a year to sell, the city’s priciest listing to go into contract last week did so in just two weeks. [more]

  • London housing prices took a dive in February 

    Pricing fell .4%, the biggest drop in six years
    February 20, 2017 08:30AM

    Homes on North Audley Street in London (credit: Wikimedia)

    London’s housing market saw its largest annual drop in prices in almost six years in February as the capital city continues to underperform the national average. [more]

  • Schumer urges Trump to put NYC security costs in Fed budget

    City estimates it could cost as much as $183M each year to protect Trump Tower
    February 20, 2017 08:00AM

    Senator Chuck Schumer and President Donald Trump with Trump Tower on Fifth Avenue

    New York senior Senator Chuck Schumer wants President Donald Trump to include in his Federal budget as much as $183 million per year to cover security costs for the president and the First Family in New York City. [more]

  • (Click to enlarge)

    From the February issue:  The former industrial hub-turned-development mecca of Long Island City continues to be ground zero for real estate projects in Queens. Like its neighbor Long Island City, Astoria has been a magnet for investors, with some 3.5 million square feet of development projects in its pipeline, including 4,132 residential units.

    The low-rise neighborhoods of Sunnyside and Woodside are less than six miles from Midtown Manhattan, with the latter being a roughly 10-minute train ride to Penn Station on the Long Island Rail Road. Serviced by several subway lines and relative bargains compared to LIC and Astoria, Elm​hurst and its neighbor to the north, Jackson Heights, are being touted as the next frontier of rental neighborhoods in Queens.[more]

  • Not a city of mansions: Small percentage of resi sales were pricier than $2M, says IBO

    De Blasio is seeking to institute a 2.5% RE transfer tax
    February 20, 2017 07:00AM By Kathryn Brenzel

    Brooklyn brownstone (inset: Bill de Blasio)

    Critics of Mayor Bill de Blasio’s proposed “mansion tax” object to the measure’s $2 million threshold, but a new report argues that a small percentage of residential sales actually exceed this price point. [more]

  • Most popular stories on The Real Deal

    February 20, 2017 06:30AM

    Current reader favorites:
    1. Boxed in: NYC landlords struggling to deal with residents’ online shopping addiction
    2. Developers of large Bed-Stuy complex opt for luxury condos over religious housing
    3. Historic Bronx beauty asks just $2.6M
    4. At Mar-a-Lago, Trump asks LeFrak to build the wall
    5. WeWork revamps company, hires former Brooklyn Bowl and Starwood execs

  • British Designer Karl Templer picks up $8M Chelsea townhouse

    And there's lots of room to expand
    February 19, 2017 05:00PM

    Karl Templer and 348 West 22nd Street

    British Designer Karl Templer is the creative director of Interview and his work has appeared in publications internationally including Vogue Italia, Vogue Paris, W, and The New York Times. So it’s perhaps no surprise that he would pick up a terribly chic townhouse in terribly chic Chelsea. [more]

  • Sheila Rosenblum in the living room of her Park Avenue duplex (credit: STUDIO SCRIVO)

    Sheila Rosenblum in the living room of her Park Avenue duplex (credit: STUDIO SCRIVO)

    From Luxury Listings NYC: Sheila Rosenblum, head of the Lady Sheila Stables horse racing syndicate, has listed her spacious and newly-renovated duplex at Zeckendorf’s 515 Park Avenue for $35 million, per city records. [more]

  • Rich teens of NYC dish on their favorite building amenities

    February 19, 2017 02:30PM TRD WEEKEND EDITION
    The cast of Gossip Girl (credit: CW)

    The cast of Gossip Girl (credit: CW)

    From Luxury Listings NYC: Teenagers in New York City have pretty much every privilege in the world, but according to real estate insiders, they still feel gypped because they aren’t living in buildings specifically designed for them (#rude). Here’s what they say they are looking for the most in a building. [more]

  • Politics strain Trump’s friendship with Jorge Pérez

    The Miami-based developer reportedly rejected two offers to join the Trump administration
    February 19, 2017 01:30PM TRD WEEKEND EDITION
    Jorge Pérez and Donald Trump

    Jorge Pérez and Donald Trump

    From the South Florida website: Political differences have strained the long friendship of President Donald Trump and Miami-based real estate developer and art philanthropist Jorge Pérez.

    Since Pérez called Trump’s plan to build a Mexican-border wall “idiotic” in a Jan. 31 Bloomberg News article, the president has stopped responding to emails from the top executive of Miami-based Related Group, the New York Times reported. [more]

  • South Bronx

    The history of New York City neighborhoods often reveals long forgotten historical curiosities — just look at Brooklyn. But these days the Bronx is getting a lot of attention, so here is a look at how some of the Bronx’s neighborhoods got their names via Forgotten NY. [more]

  • Madam Walker’s Irvington mansion hits the market

    And that has preservationists very worried
    February 19, 2017 11:16AM TRD WEEKEND EDITION
    Madam Walker and Villa Lewaro (credit: David Bohl for Historic New England)

    Madam Walker and Villa Lewaro (credit: David Bohl for Historic New England)

    It’s a fascinating and unfortunately obscure fact the America’s first self-made millionaire was an African American woman. Madam Walker made her fortune developing and marketing beauty and hair products for black women. And she used her wealth to build a mansion in Irvington — a neighborhood the Rockefellers and Astors also called home. But despite its landmark status, preservationist are worried that Walker’s home is in jeopardy.  [more]

  • The affordable-housing crunch worsened last year. In the final quarter of last year, Americans spent the highest share of their incomes on mortgage payments since 2010, according Zillow. [more]