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Category Archives: RE News

Judge tosses fraud suit against Manafort’s son-in-law over technicality

Former Trump campaign chair Paul Manafort’s son-in-law Jeffrey Yohai just won some precious time in his fight against fraud charges. On Wednesday, a federal judge dismissed an investor’s lawsuit over a technicality. The plaintiff, New York photographer Guy Aroch, had sued in federal court in November, alleging he invested $2.9 million in Yohai’s real estate projects but never got any money back. Instead, Aroch alleged, Yohai used the money for “personal travel; lavish purchases; and/or […]

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Westchester & Fairfield Cheat Sheet: Bedford accused of housing discrimination, RXR proposes $300M complex in New Rochelle … & more

Town of Bedford sued for discriminatory housing policies While Westchester County Executive Rob Astorino recently celebrated HUD’s decision to withdraw its claims of exclusionary housing against minorities in the county, public records show that Fair Housing Justice Center filed a federal lawsuit this week, claiming that the town of Bedford is guilty of just that. The suit alleges that the city and its development arm excludes African-Americans from middle-income housing. RXR Realty proposes two 28-floor […]

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WeWork, Hony Capital and SoftBank form $500M JV to focus on China expansion

WeWork investors Hony Capital and SoftBank have created a $500 million joint venture on the side with the co-working company to help expand its footprint in China. The Chinese private equity firm and the Japanese telecommunications company will own minority stakes in the investment vehicle, WeWork China, which the startup will manage, Bloomberg News reported. WeWork has an equity stake in the new company, but the exact breakdown of investments was not known. Christian Lee, […]

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Follow The Real Deal on Twitter

Keep up with The Real Deal on the go by following us on Twitter. We’ll keep you posted with up-to-the-minute tweets, breaking industry news and live updates from around the world of NYC real estate.

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Retail rents are up 42 percent in Greenpoint

According to this week’s market reports, Manhattan saw a total of $10.6 billion in commercial sales volume in the first half of 201​7, and New York added 3.1 jobs per permitted unit between 2010 and 2015. Residential Luxury sales | Olshan Realty Sixteen contracts were signed last week at $4 million and above, with an average 9 percent discount from asking price. The total asking dollar volume was $122 million. Read the full report here. […]

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Land Use OKs Midtown East rezoning

The City Council’s Land Use committee on Thursday unanimously approved the revised proposal to rezone Midtown East, complete with changes to air rights pricing and requirements for new public spaces. The vote brings the rezoning proposal inches from the finish line after several months of crawling through the land use review process. The full council — which typically abides by the subcommittee’s vote — is expected to vote Aug. 9. Changes to the proposal — […]

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East End hotels are summer-ready after slick renovations

From the Hamptons market report: With high demand and slim supply, it’s no surprise that rooms on the East End during the summer season go for a premium and sell out quickly, especially on the weekends. “Lodging in the Hamptons is very limited,” said Kristen Jarnagin, CEO of the Long Island Convention & Visitors Bureau. “As per usual, it’s booked up from what I can tell far in advance.” Still, the East End has seen some […]

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Developers, use TRData to find an architect

Choosing an architect for a multimillion-dollar development should be a more arduous task than simply reading reviews or asking around the industry. The exterior and interior appearance of a building that has been meticulously planned and funded should be handled by an architect and firm who have experience being equally meticulous. Knowing an architect’s previous projects — and the public reaction to them — is an integral piece of the puzzle when selecting the right […]

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WATCH: Taconic co-founders on the deal that jumpstarted their multi-year bet on the Meatpacking District

Less than six months after launching Taconic Investment Partners, co-founders Paul Pariser and Charlie Bendit closed on their first move into the Meatpacking District. The pair, who established the firm in 1997 after a long tenure with JLL’s predecessor, Jones Lang Wootton, picked up a 4 million-square-foot portfolio, which included a trio of Financial District buildings at 95 Wall Street, 99 Wall Street, 100 William Street, as well as a 2.9-million-square-foot building in the Meatpacking […]

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Alex Sapir fails to take control of ASRR Capital in stock buyout

Alex Sapir, head of the Tel Aviv-based ASRR Capital, failed to take control of the company through a buyout Wednesday, and remove the company from the Tel Aviv Stock Exchange. Sapir, who has an 81.8 percent stake in the company, offered to buy out the remaining public shares for $15 million, but failed to garner the 95 percent demand required for the buyout to go through, Israeli newspaper Maariv reported. ASRR Capital, a publicly traded […]

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