Real Estate

New development boom dead, with mortgage rates a prime suspect

The Real Deal New York 10/6 11:00A By Joe Lovinger
No matter how high developers build, they can’t avoid gravity. New-development contract signings in September fell below pre-pandemic levels for the second time in three months, according to a report by Marketproof. The numbers are the strongest...

North Fork town smells victory in eminent domain fight

The Real Deal New York 10/6 9:08A TRD Staff
Brinkmann’s Hardware is on the brink of defeat in its eminent domain fight with the Town of Southold, but the family owner isn’t going down without a fight. A federal judge last week dismissed a lawsuit filed by the family that owns the chain,...

Council, developers strike deal for controversial Throggs Neck project

The Real Deal New York 10/6 7:21A By Joe Lovinger
UPDATED Oct. 6, 2022, 2:33 p.m.: In a big win for Mayor Eric Adams and housing developers, after a year and a half of protests and negotiations, the Bruckner Boulevard rezoning will pass. Council member Marjorie Velázquez announced that she has...

Real estate venture backed by Carlyle’s David Rubenstein raises $240M

The Real Deal New York 10/6 7:00A TRD Staff
A venture backed by billionaire Carlyle Group co-founder David Rubenstein raised nearly a quarter of a million dollars to pursue United States property bets. Investment firm Declaration Partners announced it has raised $240 million, the New York...

Loancore seeks forced sale of Plaza District building

The Real Deal New York 10/6 5:45A TRD Staff
UPDATED, Oct. 6, 2022, 12:15 a.m.: The owners of a Plaza District building could soon be persona non grata at the office and retail property. LoanCore Capital filed a lawsuit this week against the joint venture at 111 East 59th Street, which...

Sign of the times: Hoboken townhouse sells $1M below ask

The Real Deal New York 10/6 5:00A By Sasha Jones
A Hoboken townhouse rode last year s hot residential market to its recent cooled-down destination, ultimately settling for $1 million below its initial asking and second place in an area record. The home at 614 Hudson Street first listed late...

Lendlease COO Denis Hickey to depart

The Real Deal New York 10/6 4:26A By Holden Walter-Warner
Lendlease chief operating officer Denis Hickey is leaving at the end of the month after 10 years with the Australian developer. The company announced the departure of its COO and CEO of the Americas on Wednesday. Chief executive Tony Lombardo...

Here’s what Airbnb spent on federal lobbying

The Real Deal New York 10/6 2:00A By Christian Bautista
In the tussle for influence in the country’s legislative chambers, Airbnb is putting its money to work, spending nearly half a million dollars this year to lobby on federal issues relating to tourism, housing and online sales. The San...

The Closing: Brad Greiwe

The Real Deal New York 10/6 1:30A By Hiten Samtani
Someday, when the single-family home is like a barrel of oil — standardized, tradeable online, priced in real time — you’ll have Brad Greiwe to thank (or curse) for it. In 2011, a 20-something Greiwe and seven others founded Invitation Homes, an...

NYC’s rental market is finally cooling: report

The Real Deal New York 10/6 1:00A By Harrison Connery
New York City’s rental market appears to finally be cooling after a summer of historically high prices that was particularly difficult on middle-class workers. Landlords were more likely to offer concessions and cut asking prices in September...

Breslin’s transit-oriented development advances on Long Island

The Real Deal New York 10/5 8:00P TRD Staff
In a testament to bad planning, a used-car lot sat for years next to the Long Island Rail Road station in Baldwin, Long Island. Even after a developer pitched apartments for the site, the project went unbuilt for more than a decade. But finally,...

Compass denies private-equity takeover talks

The Real Deal New York 10/5 3:36P By Hiten Samtani
After a report Wednesday that Compass was being eyed for a takeover by a private equity firm, the brokerage denied having been approached about that possibility. Compass has not been contacted by any private equity firms expressing interest in...

Former NBA owner lists Gramercy Park penthouse for $49M

The Real Deal New York 10/5 12:04P By Holden Walter-Warner | Resear
Leslie Alexander is on a selling spree in New York. Or a listing spree, at least. The former NBA team owner put his Gramercy Park penthouse on the market on the heels of doing the same with two North Fork properties. Five years after selling the...

Recession fears curb rental demand in US

The Real Deal New York 10/5 11:30A By Suzannah Cavanaugh
Hopes that the Fed’s attempts to tamp down inflation won’t trigger a recession are looking like a pipe dream. Renters have noticed. Nationally, apartment demand plummeted in the third quarter, a period that’s historically strong for leasing, a...
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