Social media workers flock to BrooklynReal Estate WeeklyHome buyers employed in social and digital media who purchased residences in Brownstone and North Brooklyn in the second quarter of 2014 increased 571 percent over the same period last year. That's the finding of the Profile of Home Buyers in …
Fort Greene: Brooklyn’s Next Hot Spot? (Part 2) – Bisnow
Fort Greene: Brooklyn's Next Hot Spot? (Part 2)BisnowAlong the residential streets, 308 and 306 Clermont tell a story of rising real estate values. Each sold for $1.7M, but 308 (on the left, meticulously renovated in '07) sold a year ago and 306 (on the right, in much worse shape) sold last month at …and more »
NYC real estate heir arrested for urinating on candy – Brooklyn Daily Eagle
NYC real estate heir arrested for urinating on candyBrooklyn Daily Eagle… real estate heir who admitted killing his neighbor in Texas a decade ago is facing a new charge in Houston — that he urinated on candy at a drug store. Authorities say Robert Durst, who recently owned and sold properties in Brooklyn, was arrested …
Allegation that Durst urinated at CVS store adds to strange tale – Houston Chronicle
Daily MailAllegation that Durst urinated at CVS store adds to strange taleHouston ChronicleThe turmoil has done little to dampen Durst's real estate business. The New York Post reported last week that he bought two Brooklyn buildings in 2011 for $8.65 million and sold them for $21.15 million. New York City records show that Durst owns or has …Cross-dressing millionaire real estate heir arrested for 'urinating on candy …Daily Mailall 139 news articles »
Upstate casinos eye tax break to compete with NYC-area rival
From left: Michael Treanor and Nevele Casino rendering At least three casino developers are seeking hundreds of millions of dollars in property tax breaks for upstate gaming venues, in part because the incentives will help them compete with a casino project that would be located about 45 minutes from New York City. Michael Treanor, CEO of Nevele, told Capital New York that his company’s $640 million casino in Ulster County’s Ellensville would have a harder time attracting customers if the state grants …
Ex-Hudson Companies exec plans Bronx affordable housing
2065 Walton Avenue in the Bronx Developer Alan Bell, formerly a principal with Hudson Companies, and supportive-housing builder Jericho Project have teamed up to construct a 10-story affordable-housing building in the West Bronx. The property at 2065 Walton Avenue, near East Burnside Avenue, is set to hold 92 apartments. Bell and Jericho paid $1.15 million for the site in November 2013. Michael Gelfand’s MHG Architects was hired to design the site, which is slated for completion by 2016. About 60 percent of the units are intended for homeless veterans, and 40 percent are designated for homeless people ages
Tenants booted from illegal East Williamsburg artist lofts
248 and 255 McKibbin Street The dream of occupying the post-industrial McKibbin Lofts just ended for some East Williamsburg residents after the Department of Buildings deemed basement quarters at the notorious building “imminently perilous to life.” The agency has issued a partial vacate order for cellar space at 255 McKibbin, citing a variety of violations in illegally converted artist studios. The infractions include unapproved installation of gas lines and bathrooms and inadequate exits, according to city records filed last week. Residents of 248 McKibbin were also evicted earlier this year,
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CORE hires Douglas Heddings, absorbs his brokerage
From left: Shaun Osher and Douglas Heddings CORE has absorbed the Hedding Property Group as part of its hiring of Douglas Heddings as the new executive vice president of sales, the brokerage announced today. Heddings, a veteran broker, had founded the residential brokerage Heddings Property Group in 2010 after leaving Rutenberg Realty. HPG opened an office at 119 West 23rd Street in Chelsea last year following the closure of several suburban outposts. “In this new role, he will oversee our growing sales division, which has more than doubled over the last two years, recruit and mentor our team of agents and lead the way in the implementation of our growth plan and strategy,” CORE CEO …
Manhattan’s top listing agents: PHOTOS
Douglas Elliman’s Fredrik Eklund and John Gomes were the city’s top residential agents in The Real Deal’s 2014 ranking, with a whopping $535.53 million worth of exclusive listings. New development projects helped propel the Eklund-Gomes team to the top of the totem pole, beating out perennial leaders such as Brown Harris Stevens’ Paula Del Nunzio and Sotheby’s International Realty’s Serena Boardman.
Court tosses suit against Malkins in Empire State Building row
From left: Anthony Malkin and the Empire State Building A Manhattan judge dismissed a suit brought against the Empire State Building’s managers by investors, who claim they lost out on hundreds of millions in potential profits when the skyscraper went public last year. Judge O. Peter Sherwood sided with the Malkin family, who earlier this month claimed they had immunity from future suits as part of a $55 million settlement reached in November of last year. Thousands of investors claimed that they were shortchanged when the initial public offering of a real estate investment trust that included the Empire State Building fetched less money than other offers on the table. The plaintiff’s lawyer said they planned to appeal, the
301 East 50th Street
The CBSK Ironstate-developed, COOKFOX-designed 301 East 50th Street is noted for its limestone façade and streamlined interiors inspired by French Modernism. Just a month and a half after sales began in June, three of the 29-story condo’s 57 units were in contract and ten were still available. Those units ranged from a 947-square-foot one-bedroom, asking $1.775 million, to a 2,195-square-foot three-bedroom on the market for $4.9 million. Amenities for residents include a doorman and concierge, fitness …
High-end Riverdale market lags despite citywide rebound
From left: 4941 Arlington Avenue, 5000 Iselin Avenue and 421 West 250th Street in Riverdale While the New York City luxury real estate market has long bounced back since the recession, one high-end corner of the Bronx still lags behind. From 2009 to 2013, properties priced at and above $1 million in the western Bronx neighborhood of Riverdale saw 30 percent fewer sales than they enjoyed before the market bottomed out in 2008, according to New York City Department of Finance data cited by the New York Observer. Currently, at least several dozen listings of homes in that price range have sat…
Leroy Schecter gets $28M for Miami Beach manse
12 Indian Creek Drive, Miami Beach From the South Florida site: Steel magnate Leroy Schecter got $28 million for his waterfront Miami Beach mansion, The Real Deal has learned. The Leroy Schecter Revocable Trust sold the 12 Indian Creek Drive home on Monday, according to a written statement from Clear Title Group, which handled the closing. The transaction has not been recorded by Miami-Dade County. Schecter paid $18.7 million for the property in April 2006. Indian Creek #1 LLC is the buyer of the seven-bedroom, 16,474-square-foot manse. The company is managed by New York attorney Lawrence Markowitz. Nelson Gonzalez of EWM represented…
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 …
Robert Durst urinated on CVS cash register: cops
Robert Durst Robert Durst, an estranged member of the Durst real estate family, was arrested Sunday for allegedly exposing himself and urinating on a cash register at a CVS in Houston. The 71-year-old Texas millionaire was charged with criminal mischief. Police said he paid for his prescription prior to exposing himself. “There was no argument,” a spokesperson for the Houston Police Department told the New York Daily News. “He did not seem agitated, he did not…
SL Green’s 1 Vanderbilt gets mixed reviews at Landmarks meeting
1 Vanderbilt rendering (Kohn Pederson Fox) Opinions on SL Green’s 1 Vanderbilt were mixed at a meeting on Tuesday of the Landmarks and Preservation Commission, which sought to weigh in on the design of the 65-story building’s base and its effect on Grand Central Terminal. James von Klemperer represented building architect Kohn Pederson Fox at the meeting, pointing out new views of the Terminal afforded by a set back and the inclusion of terra cotta to complement Grand Central, Curbed reported. The majority of the commission, including chair Meenakshi Srinivasan, came out in favor of the design. Commissioner Michael Devonshire called it “well thought-out,” according to the news site, and fellow commissioner …
By the numbers: The retail space “workout”
SoulCycle From the July issue: Fitness centers come standard in most new residential condos these days, but that isn’t slowing the spread of gyms and other fitness-related businesses throughout the five boroughs. Seven of the 20 largest retail leases in Manhattan last year went to fitness facilities like Equinox, Crunch and Planet Fitness, The Real Deal reported in January. more
Related to build nearly 50 condos at Tribeca development site
From left: Jeff Blau, 270 and 264 West Street The Related Companies’ Tribeca project at the site of the former Ponte family restaurant will be a 152,000 square-foot condominium building with approximately 46 units at 268 West Street, a company spokesperson told The Real Deal. Related paid the Ponte family $115 million earlier this year for a six-parcel development site on West Street between Desbrosses and Vestry streets, The Real Deal previously reported. The city has approved plans to demolish four buildings on the site, 33 and 35 Desbrosses Street and 264 and 268 West Street, city records filed today show. Permits have also been filed to demolish 270 West Street. The company expects sales to begin next year…
The Wrap: East Hampton’s troubled airport may soon close, New York has second-highest cost of living in U.S. … and more
Bumper-to-bumper traffic may soon be the only way to get to this spot in East Hampton. 1. East Hampton’s troubled airport may soon close Business Insider 2. New York has the country’s second-highest cost of living The Atlantic 3. Artists move deeper into Brooklyn and Queens Crain’s 4. Gotham is the country’s unhappiest city NY Mag 5. But, it’s among the best places for families Seattle Pi 6. Did the Obamas pick up a new $4.25M home in Rancho Mirage? LA Times 7. Mattress startup Casper pockets over $1M in
Rudin buys development rights from FiDi hotel
From left: William Rudin and 110 Wall Street Rudin Management, which was reportedly eyeing a residential conversion for its Superstorm Sandy-damaged office building at 110 Wall Street, purchased nearly 36,000 square feet of development rights from a neighboring FiDi hotel earlier this month. William Rudin’s firm paid $7.76 million – or about $217 per square foot – to acquire 35,815 square feet of development rights from the Eurostar Hotel at 129 Front Street, property records show. Niether Rudin management nor Eurostar’s parent company, the Barcelona-based hospitality giant Hotusa Group, could be immediately reached for comment. After the deal was done, the eight-story, 53-room …
Stella Tower at 425 West 50th Street
Stella Tower is a 1927 Art Deco building designed by architect Ralph Walker and named for his wife. The luxury condominium conversion is part of a recent development boom in Hell’s Kitchen; only six weeks after hitting the market, sixty-percent of the units in Stella Tower were sold. Stella Tower was developed by JDS Development and Property Markets Group in partnership with Starwood Capital Group. The same partnership developed Walker Tower, Stella Tower’s pricier sister building…
Residential conversion planned near Apollo Theater
271 West 125th Street rendering Permits have been filed with the Department of Buildings to convert three floors of commercial office space at the corner of Frederick Douglass Boulevard and West 125th Street into 30 residential units. The building, 271 West 125th Street, is located a stone’s throw from the Apollo Theater. It would contain a mix of studios, one- and two-bedroom units on the second through fourth floors, as well as a 1,000-square-foot penthouse, according to Washington D.C.-based …
Scores strip club owner sues Deutsche Bank for $1M
610 West 46th Street (Photo credit: Google) A hardware magnate who is also an owner of the strip club Scores New York claims in a new lawsuit that commercial lender Deutsche Bank unfairly reneged on making a $17 million loan on several of his local commercial properties. Robert Gans, owner of Metropolitan Lumber & Hardware as well as Scores New York and Penthouse Executive Club, alleges in the lawsuit filed yesterday that the German-based lender — one of the most active commercial loan sources for Manhattan properties — declined to make the loan because Gans also owns the strip clubs. The loans were planned for his lumber properties in Manhattan and Queens, not on his adult-related ventures. Gans claims that Deutsche Bank…
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