Real Estate

Top broker Tamir Shemesh joins Nest Seekers

The Real Deal New York 2/6 10:50A By Sheridan Wall
Tamir Shemesh, one of Manhattan’s top-producing brokers, is joining Nest Seekers International. The move comes less than a week after Shemesh was terminated from Serhant for unclear reasons. Nest Seekers said in a statement Monday Shemesh “left...

Same old story: American Dream mall misses another payment

The Real Deal New York 2/6 9:06A By TRD Staff
It’s deja vu all over again at the American Dream mall. Don Ghermezian’s Triple Five Group missed its $8.8 million semiannual debt service payment at the East Rutherford shopping complex, CoStar reported. The payment is for interest due on $290...

Manhattan’s luxury market starts February on a peak

The Real Deal New York 2/6 8:00A By Sheridan Wall
Manhattan’s luxury market left its winter slump in January. The borough notched 29 deals last week, according to Olshan’s weekly report on properties asking $4 million or more. The week between Jan. 30 and Feb. 5 had the largest total since...

Shuttered East Side Marriott sold for $100M+ discount, records reveal

The Real Deal New York 2/6 7:30A By Pat Ralph
Hawkins Way Capital’s purchase of a shuttered Marriott on Manhattan’s East Side came at a heavy discount from what the property last sold for, newly filed city records reveal. In a deal first reported last week, the Beverly Hills-based firm...

Second Circuit rules against landlords’ rent law challenge

The Real Deal New York 2/6 6:26A By Kathryn Brenzel
If landlords’ legal strategy was indeed to fail upwards, their plan is on track. A federal appeals court on Monday ruled against two lawsuits challenging New York’s rent stabilization law, affirming the New York’s Eastern District Court’s...

Former NBA owner drops Gramercy Park penthouse ask to $44M

The Real Deal New York 2/6 6:00A By TRD Staff
Will the third time be a charm for former NBA owner Leslie Alexander’s attempt to sell his Gramercy Park penthouse? Alexander listed his apartment at 18 Gramercy Park South for $43.8 million, Crain’s reported. The price is a $5 million knockdown...

Rechler responds: RXR boss on health of his office portfolio

The Real Deal New York 2/6 5:01A By Hiten Samtani
Scott Rechler is in damage control mode. A Financial Times article Thursday headlined New York property tycoon to give worn-out offices back to the bank rippled through the real estate industry. If the mighty RXR is facing a reckoning with...

Pearlmark’s Tower 56 starts forced selling for Manhattan offices

The Real Deal New York 2/6 4:30A By Rich Bockmann
The other shoe is about to drop for New York’s nervous office owners. With the mortgage due on its Tower 56 building in the Plaza District, Pearlmark Real Estate is negotiating a deal to sell the property at a price that will just about cover its...

Public Storage pressures rival Life Storage with $11B bid

The Real Deal New York 2/6 3:22A By TRD Staff
After several failed attempts to push for a deal in private, Public Storage is taking its case to acquire one of its top rivals straight to shareholders. Public Storage made an $11 billion unsolicited bid to acquire Life Storage, the Wall Street...

The Fed’s latest hike could kickstart mortgage demand

The Real Deal New York 2/6 2:30A By Suzannah Cavanaugh
The Federal Reserve hiked interest rates last week for the eighth time in less than a year, pushing the benchmark rate to its highest level since 2007. That would seem to be bad news for a mortgage market that has seen demand slip amid higher...

East Hampton affordable housing project nears approval

The Real Deal New York 2/6 2:00A By TRD Staff
Sixteen units of affordable housing wouldn’t even make the radar screen in New York City, but in East Hampton, it’s almost a big deal. The East Hampton Town Planning Board reviewed a proposed development of that size at 395 Pantigo Road last...

“Unsellable” Hamptons home finally finds a buyer

The Real Deal New York 2/6 1:00A By Sheridan Wall
Sotheby’s found a way to sell an “unsellable” home: auction it with a starting price so low that the land alone is worth a bid. The former Hamptons home of late Japanese sculptor Setsuo Ito sold at auction last week with a $3 million reserve bid...

Extell swaps office for resi in East Harlem

The Real Deal New York 2/6 12:00A By Orion Jones
Gary Barnett’s Extell Development has other plans for an East Harlem site at 180 East 125th Street. Instead of moving ahead on an office project in a troubled commercial office environment, his firm is pivoting to a project that will add 543...

NIMBYs triumph in Florida upzoning battle

The Real Deal New York 2/5 10:00A By TRD Staff
Gainesville, Florida, was set to become the first city in the state to get rid of single-family only zoning citywide … until it wasn’t. Shortly after its members were sworn in, a city commission reversed an August vote that was designed to...
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