UPDATED, 6:34 p.m., Dec. 19: Extell Development’s One57 has taken another hit. A 6,240-square-foot sponsor unit at the luxe condominium tower sold for $45.8 million, or roughly $7,343 per square foot, according to property records filed with the city Monday. That’s $12.7 million below the last asking price of $58.5 million. Three private trusts were used to buy unit 83 at the building. Two of them are linked to the family of British billionaire and … more
The Real Deal MagazineTrump taps Virtu CEO, Brooklyn real estate investor Vincent Viola for Army secretaryThe Real Deal MagazinePresident-elect Donald Trump nominated Virtu Financial CEO — and recent Brooklyn real estate investor — Vincent Viola for Secretary of the U.S. Army on Monday. A 1977 West Point graduate, Viola served with the 101st Airborne Division at Fort Campbell …Five Things To Know About Vincent Viola, Trump's Billionaire Pick For Army SecretaryForbesTrump picks NHL team owner for Army secretaryNew York Postall 165 news articles »
From the December 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. … more
Common Living to Partner on 140-Resident Building in Brooklyn – WSJWall Street JournalNew York City-based Common Living is joining with a local developer to lease and manage a building of co-living suites and traditional studio and one-bedroom …and more »
President-elect Donald Trump nominated Virtu Financial CEO — and recent Brooklyn real estate investor — Vincent Viola for Secretary of the U.S. Army on Monday. A 1977 West Point graduate, Viola served with the 101st Airborne Division at Fort Campbell, Kentucky. He later helped found West Point’s Combating Terrorism Center and currently serves on the Army Cyber Institute Advisory Board at the school, according to the Wall Street Journal. In the last year-and-a half, Viola … more
Louis C.K. isn’t just a prolific comic. The Emmy award-winning comedian and writer also appears to have an outsized appetite for real estate in the West Village. C.K. — who already owns several apartments in the neighborhood — just snapped up a $2.45 million co-op at 101 West 12th Street, property records show. The pad has two bedrooms and a home office, according to the listing, which says the apartment is a combination of a … more
A reader wants to remove to remove all drywall and plaster from the ceilings and walls of an apartment and is wondering if a permit is required. Removing all the surfaces would allow adding insulation. No structural changes will be made to the walls, so they are wondering if a… Read More >The post From the Forum: Is a Permit Required for Drywall and Plaster Removal? appeared first on Brownstoner.
A whole new cohort of millionaires (and billionaires) is headed to the nation’s capital next month, and local real estate brokers are banking on them spending big on the Beltway. Donald Trump’s cabinet — complete with two billionaires and at least nine millionaires — has a reported combined net worth of $5.6 billion and is one of the wealthiest in modern history. Real estate brokers in the nation’s capital are now pursuing potential clients and … more
You may not like the answer.
Here’s a choice Prospect Lefferts Gardens limestone on a prime block, at 133 Maple Street between Bedford and Rogers. A landmarked one-family designed by prolific Brooklyn Axel Hedman in 1909, it’s in good shape and has some desirable original details. Those include intricate crown moldings, decorative mantels, pocket doors, banisters, ornamental… Read More >The post Landmarked PLG Limestone With Barrel Front, Mantels Asks $2.295 Million appeared first on Brownstoner.
The board of the struggling New York REIT has selected the Wendy Silverstein-led Winthrop REIT Advisors as its external manager to oversee the company’s liquidation plan. Heeding the call of activist investors Michael Ashner and Steven Witkoff, the board voted to place Silverstein at the helm of the embattled REIT, replacing CEO Michael Happel and AR Global as the external adviser. Silverstein served as an executive vice president at Vornado Realty Trust before leaving in … more
Listen up landlords and developers!
Here’s a choice Prospect Lefferts Gardens limestone on a prime block, at 133 Maple Street between Bedford and Rogers. A landmarked one-family designed by prolific Brooklyn Axel Hedman in 1909, it’s in good shape and has some desirable original details. Those include intricate crown moldings, decorative mantels, pocket doors, banisters, ornamental… Read More >The post Landmarked PLG Limestone With Barrel Front, Triple Parlor, Mantels Asks $2.295 Million appeared first on Brownstoner.
Co-living startup Common is launching its biggest project to date, taking over Adam America’s entire 69-unit rental development 595 Baltic Street in Boerum Hill. The new location’s size and layout indicates that Common is more aggressively taking on $16.9 billion behemoth WeWork and its WeLive co-living line. Common Baltic will open in January, according to the project’s website, which went live today. Like Common’s other locations in Crown Heights and Williamsburg, the new building will … more
A Giuliani-era vote is still sending shockwaves through the rental market.
The first significant snow hit Brooklyn this past weekend and residents took full advantage. The blanket of white was quickly marked with footsteps as it was tromped through for the creation of snowmen and snow angels and the photographing of wintry Brooklyn scenes. The arrival of rain and warmer temperatures… Read More >The post A Brief Brooklyn Winter Wonderland (Photos) appeared first on Brownstoner.
From 2013 to 2015 , this is what qualified for “normal”: a record-breaking sale was immediately bested by another, asking prices were determined by comps from a wildly unrealistic peer group, and the target buyer was a 1% captain of the universe. So what does it look like when “normal” becomes…well, normal again? CityRealty released its year-end residential market report last week, and when Reuters, Forbes and other outlets picked it up, they highlighted this … more
For those who want something a little less, well, co-op-y.
These nine brand-new condominium buildings share two important things: First, they place design at the top of their list of priorities, and second, they offer immediate or near future closings. They are located in some of the most sought-after neighborhoods in Manhattan and Brooklyn, including Flatiron, Dumbo, Park Slope and Williamsburg.… Read More >The post Tour 9 Coveted New Condo Developments Where Design Is Paramount and Move-ins Immediate appeared first on Brownstoner.
Sentinel Real Estate Corp. Sells Five-Building Multifamily Portfolio in Brooklyn for $89MREBusinessOnlineNEW YORK CITY — Sentinel Real Estate Corp. has completed the disposition of a five-building multifamily portfolio located in Brooklyn. A&E acquired the portfolio for $89 million. Totaling 243,000 square feet and 265 units, the properties are located …
After two banner weeks in Manhattan’s luxury residential market, contracts on properties priced over $4 million crashed back to earth last week. In the period between Dec. 12 through Dec. 18, a total of 18 contracts were signed on properties priced over $4 million, according to the weekly market report from Olshan Realty. That’s a significant fall on the previous past two weeks, both of which saw more than 30 contracts signed in the luxury … more
Plus, decor sites for renters, and a crackdown on wayward landlords.
For the first time in five years, there’s a new king atop of the CMBS mountain. JPMorgan was the most active underwriter this year with $12 billion worth of U.S. transactions, edging out Deutsche Bank and ending its five-year reign as the top CMBS bookrunner, according to Commercial Mortgage Alert. While U.S. CMBS issuance is on track to dip to $76 billion this year – down 25 percent from $101 billion last year – JP … more