Investors, developers looking to Northern Manhattan

Emerging markets like Northern Manhattan are offering real estate investors “huge potential for growth,” though such growth is dependent on continued investments in transportation and infrastructure, market players said at a Midtown panel discussion Thursday. ... [more]

Food delivery service takes 84K sf in Hunts Point

Food delivery service Plated has taken 84,000-square-feet of industrial space in the Hunts Point neighborhood in the Bronx. ... [more]

Roy Kim, Compass’ new development chief, is out

Just nine months after leaving Extell Development for startup brokerage Compass, Roy Kim is out as the firm’s head of new development, The Real Deal has learned. Kim, who spent eight years at Extell and was the developer’s top design executive, left Compass on Monday, according to sources. ... [more]

Prodigy, Korman launch sales for crowdfunded Midtown condos

Apartments in the city’s first crowd-funded condo project are hitting the market, with prices starting at $1.2 million. ... [more]

Thor places Row NYC retail unit on market for $100M

Thor Equities’ retail condominium unit at the Row NYC Hotel in Midtown is on the market. ... [more]

Change in federal law could boost foreign investment in NYC market

A newly proposed federal law would increase the appeal of investing in U.S. real estate for foreigners by eliminating certain taxes at a time when foreign investment is already on the rise. ... [more]

Resi construction spending hits all-time $12B high

Spending on residential construction in New York City rose sharply to an all-time record of nearly $12 billion last year, according to a new report. Those dollars, however, produced only about two-thirds of the units that were created during the peak years of the previous building boom. ... [more]

Spec office development picking up in outer boroughs

Office tenant demand in Brooklyn and Queens has increasingly made speculative commercial development in the outer boroughs an option for developers, according to JLL. ... [more]

Broker confidence dips slightly in first quarter: REBNY

New York City brokers’ confidence remained high but fell slightly in the first quarter of 2015, driven by the potential impact of rising interest rates and low inventory, according to the latest Real Estate Board of New York confidence index report. Overall broker confidence was at 9.05, compared with 9.22 in the fourth quarter of 2014 and 8.80 in the third quarter. “Brokers are showing bullish confidence in this healthy market and continue to be ... [more]

Affordable housing groups join fight over NYU expansion

If NYU’s expansion plan is blocked by New York’s highest court, it could set a dangerous precedent that would negatively affect affordable housing, advocates argued in a recent brief. Greenwich Village residents have been fighting the expansion plan for years, arguing that the university would be building on public green space without permission from the Legislature, DNAinfo reported. However, the groups, including Phipps Houses, the Association for Neighborhood and Housing Development and the New York ... [more]

Sky-high in FiDi

When thinking about supertall, record-breaking and gravity-defying residential towers in New York, the ones that first come to mind are 432 Park Avenue (the current record holder at 1,396 feet) and One57 (at 1,005 feet). But before those skyscrapers sprouted up on what is now known as Billionaires’ Row, the city’s tallest residential tower could be found at 8 Spruce Street (870 feet). And while 8 Spruce, now known as New York by Gehry, had ... [more]

The Wrap: Ian Shrager looks back on his legacy, inside the new Whitney Museum … and more

[caption id="attachment_598955" align="aligncenter" width="570"] The new Whitney Museum[/caption] The new Whitney Museum, inside and out. Congregants oppose sale of the Home of Sages on the Lower East Side. Could a couple survive a trip to IKEA? Read these stories and more after the jump.

Morgan Stanley to renew 400K sf lease at 750 Seventh Ave.

Morgan Stanley is on the verge of renewing its more than 400,000-square-foot lease at FosterLane Management’s 750 Seventh Avenue office building in Midtown. The financial services firm is expected to finalize the renewal soon, with asking rents at the 36-story tower reportedly in the $80s per square foot. Morgan Stanley houses key divisions, including its wealth management business, at 750 Seventh Ave., according to Crain’s. The company has for years been rumored as a candidate ... [more]

Rental fees at condos leap on strength of investor-owned units

In a city where landing the right rental apartment is celebrated like the birth of a child, brokers and tenants are aware that landlords hold all the cards, and have become used to paying a multitude of fees. But as the market continues to heat up and an increase in units with absentee owners drives up the percentage of rentals in condominium buildings, some property managers have responded by hiking fees – leading to costly application packages that are ... [more]

NYC vs. London, Tokyo and San Francisco

With roughly 8.4 million residents, New York City is easily the largest city in U.S. But in terms of land area, it’s only the 24th largest city (defined by the city limits) in the U.S. Internationally, NYC doesn’t even make the top 250 largest. These maps (via Gothamist) comparing NYC to other world city’s make it clear just how dense the city really is.  [Gothamist] — Christopher Cameron ... [more]

5 lesser known landmarks

New York City’s Landmarks Law was passed 50 years ago this month. Since it was enacted, it has protected 33,000 properties, as well as 114 historic districts such as Brooklyn Heights and Greenwich Village. But while everyone is familiar with iconic protected sites like the New York Public Library and the Empire State Building, many of the city’s landmarks are more obscure. Here’s a look at those lesser known properties via the New York Post. ... [more]

The 10 most impressive houses of 2015

  The American Institute of Architects (AIA) have announced the recipients of the 2015 Housing Awards. Currently in its 15th year, the awards are designed to “recognize the best in US housing design” and “promote the importance of good housing as a necessity of life, a sanctuary for the human spirit and a valuable national resource.” This year, the jury awarded ten designs in three categories. One/Two Family Custom Housing: Bridge House (Kent, CT) / ... [more]

Hell’s Kitchen hoteliers face boycott after meeting with Ted Cruz

The owners of a hotel located at 510 West 42nd Street in Hell’s Kitchen are facing a boycott after meeting with Republican presidential hopeful and anti-gay marriage activist Ted Cruz. The OUT co-owners Ian Reisner and Mati Weiderpass, who also own a stake in gay beach resort the Fire Island Pine, met with Cruz on Monday, and criticism from hotel clients and activists has mounted since, according to DNAinfo. AIDS charity Broadway Cares canceled a ... [more]

Qatar is buying up London’s iconic properties

Qatar recently purchased three landmark London hotels – Claridge’s, the Connaught, and the Berkeley – for about $2.4 billion. But those aren’t the only iconic properties the Gulf emirate owns in London. Here is a look some of its most prominent holdings in the city via Buzzfeed. Commercial holdings Among Qatar’s holdings in London is the Shard – the city’s tallest skyscraper. In fact, the Qatar Investment Authority — Qatar’s sovereign wealth fund — owns ... [more]

110 years ago the Times Building was “the city’s tallest”

In 1905, the New York Times ran a special supplement declaring the Times Building the “City’s Tallest Structure From Base to Top.” It was a bold, self-interested move, considering that at the time, most correctly considered the Park Row Building, opposite City Hall Park, to be the city’s tallest. The Times wrote: “Figuring on the basis that a building’s height should be reckoned from the floor of its lowest basement to its topmost point, the ... [more]

The week in renderings: 44-28 Purves St., 303 East 44th St.

[caption id="attachment_559874" align="aligncenter" width="570"] From left: 42 Maspeth Street and 465 Washington Street[/caption] A building in Tribeca that will be enlarged and renovated to meet passive house standards at 465 Washington Street, a skyscraper with floating gardens near the United Nations headquarters and more notable renderings.

Gloria Vanderbilt’s former UES mansion hits market for $59M

A Gilded Age mansion on the Upper East Side that was once home to heiress and socialite Gloria Vanderbilt, mother of Anderson Cooper, listed for $59 million. The building at 39 East 72nd Street is currently configured as five apartments, but owners B+B Capital and Mink Development have plans to convert it to a single family. CetraRuddy has been hired for the conversion, according to the New York Daily News. The finished product would be an ... [more]

Israeli investors sell Hell’s Kitchen apartment hotel for $28M

U.S. Suite, a partnership of Israeli investors, has sold a 13-story Hell’s Kitchen apartment hotel known as Metro Apartments for nearly $28 million, according to property records filed with the city Friday. The partnership includes principals from Aura Investments, Livorno Properties and U-Trend.  Sholom Jacobs of the Nassau County-based Jacobs Real Estate Advisors was the buyer of the roughly 55,000-square-foot property at 440 West 41st Street. U.S. Suite bought the 96-unit building that sits in the shadow ... [more]

Cash-out refinances on the rise

Could it be time to cash out some home equity by refinancing your mortgage? For growing numbers of owners, the answer this year is an emphatic yes, at least according to new data from some major lenders. In a cash-out refinancing, you convert part of your home equity into money, adding to your mortgage balance. Say you have a $400,000 home with a $200,000 first mortgage. You have $200,000 of equity and a couple of ... [more]

The Wrap: Cushman buys Chicago brokerage, a peek at Legacy Group’s Meatpacking hotel project … and more

[caption id="attachment_559714" align="aligncenter" width="570"] Bethenny Frankel[/caption] Cushman & Wakefield buys Chicago commercial firm. Real Housewife Bethenny Frankel picks up $4.2 million Soho pad. A peek at Legacy Group's Meatpacking District hotel project. Read these stories and more after the jump.

Silver hit with new charges

A superseding indictment filed Thursday against former speaker of the New York State Assembly, Sheldon Silver, charged him with making illegal investments through private vehicles. U.S. Attorney Preet Bharara claims that Silver made $750,000 through a private investment that was not available to the public, using the money that he obtained through illegal kickbacks, Capital New York reported. The kickbacks were the basis for his arrest and initial indictment. The alleged illegal investment was in a ... [more]

Triangle Assets’ UN skyscraper to feature floating gardens

Triangle Assets plans to construct six full-floor, floating gardens at its new 41-story skyscraper at 303 East 44th Street, near the United Nations.  The canopied green spaces, each 16 feet high, will be built into the façade of the building and wrap around the core of the tower, the New York Daily News reported. The project’s penthouse unit will have its own private full-floor roof garden. Joseph Stavrach’s Triangle filed permits for the 96,774-square-foot building with ... [more]

Rental heavyweight Rapid Realty launches sales division

With its tiny offices and assembly-line approach to rentals, Rapid Realty took the rental business by storm in recent years. The firm inspired such loyalty among agents that some went out and got tattoos with its logo. Now, it’s jumping headfirst into the sales market. “We’re going to put our foot on the gas pedal,” said founder and CEO Anthony Lolli, who began franchising offices in 2009. Today, Rapid Realty has 47 locations around the city, predominantly in the ... [more]

Summit Presenter Q&A with Kriste Dragon, CEO of Citizens of the World Charter Schools

Our annual NewSchools Summit is coming up in less than two weeks, on May 6.  Leading up to it, we’re featuring conversations with some of our exciting presenters.  Today we’ll hear from Kriste Dragon, co-founder and CEO of Citizens of the World Charter Schools.  After earning her law degree and then spending years working as a math teacher, professional development coordinator, and operational leader in Los Angeles area schools, Kriste founded Citizens of the World in order […]

Peruvian billionaire gets $2.8M penthouse deposit back

Peruvian banking billionaire Carlos Rodriguez-Pastor won a refund of a $2.75 million penthouse deposit, with the judge agreeing that the co-op board acted out of turn. Rodriguez-Pastor made the deposit on a $27.5 million penthouse at 1107 Fifth Avenue, but withdrew his accepted offer after learning that the co-op board planned to designate his penthouse roof as a common area that other residents would be allowed to walk through, the New York Post reported. The ... [more]

The Wrap: Tom Brady and Gisele’s pad rents in two days, Riverdale school’s $25M upgrade fuels home sales … and more

[caption id="attachment_559484" align="aligncenter" width="570"] Tom Brady and Gisele Bundchen[/caption] Tom Brady and Gisele Bundchen’s Nomad pad rents in just two days. Riverdale Country School’s $25 million expansion fuels real estate. Historic 36 Bleecker Street penthouse to list for $25 million. Read these stories and more after the jump.

Adam America keeps its lending worldly

Dvir Cohen Hoshen and Omri Sachs, the founders of Adam America, have development pedigrees in places as far-flung as Romania, Moldova, Ukraine and Turkey. So it may come as no surprise that when they look to raise debt for their Brooklyn projects, lenders from all over take notice. In fact, banks based outside of New York are involved in financing the lion’s share of Adam America’s projects, an analysis of city property records by The ... [more]

The Wrap: Mark Madoff’s $9M Soho apartment finds a buyer, man swims Gowanus Canal for Earth Day … and more

[caption id="attachment_559432" align="aligncenter" width="570"] 158 Mercer Street in Soho[/caption] Mark Madoff’s $9 million Soho apartment finds a buyer. Peek inside a Red Hook shipping factory conversion. Man swims Gowanus Canal for Earth Day. Read these stories and more after the jump.

The Real Deal South Florida is now on Instagram!

The Real Deal South Florida is excited to announce the official launch of our newest social channel, Instagram! TRD will ‘gram snippets from our market report supplements, party pics from around the world of South Florida real estate, and the latest renderings from new projects across the region. Have something to share with us? Send us your photo to insta@therealdeal.com and you could be featured on our Instagram feed. Keep an eye out for photos from tomorrow’s Broward real estate ... [more]

Step inside NYC’s new Baccarat Hotel: PHOTOS

[caption id="attachment_559364" align="aligncenter" width="570"] Baccarat Hotel & Residences at 20 West 53rd Street[/caption] French Crystal maker Baccarat launched its hospitality branch this Spring with the Baccarat Hotel & Residences New York in Midtown, and now you can see the lavish interior decoration. ... [more]

Landmarks approves Soho office building for resi conversion

A six-story office building at 40 Wooster Street in Soho is set for a residential conversion, after the Landmarks Preservation Commission approved plans for a restoration and rooftop addition. Ran Eliasaf’s Northwind Group is developing the property, which it purchased for $16.4 million in 2014. The finished product will contain four apartments and ground-floor retail, Curbed reported. The landmarked building was originally completed in 1896, and will now be restored and transformed by Easton Architects ... [more]

What’s hot on TRD Social right now

1. Manhattan home sale inventory bottoms out 2. Louise Sunshine takes on Vornado’s 220 Central Park South 3. Extell’s UWS development draws 90K applicants for 55 spots Like The Real Deal on Facebook for breaking industry stories, links to quirkier pieces and lively conversation about important properties in New York and around the world. [TRD‘s Facebook Page] ... [more]

Children’s Spring Performing Arts Academy Online Registration!

Newark Symphony Hall, New Jersey’s most historic arts and entertainment venue is proud to announce our Spring 2015 Children’s Performing...