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Top of the market is extremely crowded: Kushner, Naftali

From left: Jared Kushner, Miki Naftali and Leonard Steinberg Developers Miki Naftali and Jared Kushner, as well as top Downtown broker Leonard Steinberg, spoke today to a standing-room-only crowd at the Lower East Side’s New Museum during a panel discussion on the future of real estate. The discussion kicked off with a look at the state of Manhattan’s luxury market. “The question right now,” Naftali said, “is that is it high-end, ultra-high-end or ultra-ultra-high-end?” The reality of soaring land costs, he added, means that relatively affordable in Manhattan is under $2,000 per square foot. “The $5,000 to $7,000 square-foot-market is a very crowded market,” Naftali …

CurbedWire: Colony 1209 60 Percent Leased; Urban Compass Raises $40M

BUSHWICK—After a few delays, the futuristic sounding Colony 1209, under new ownership, started leasing in April. Now, aptsandlofts, who are handling the marketing of the rentals, reports that 60 percent of the building’s 127 units are leased. The remaining unit range in price from $1,899 to $3,100. CurbedWire Inbox; previously THE INTERNET—Urban Compass announced that is has raised $40 million in Series B funding, allowing the company to expand its presence in New York (and other cities). Urban Compass recently