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Category Archives: RE News

The Sitt-down: Eddie, Ralph and David settle years-long legal feud

A family feud that may have cost the Sitt family their prime asset appears to be coming to an end. Eddie Sitt has settled a long-running legal battle with his brothers Ralph and David over control of the family’s asset. But while the brothers have made peace, it may be too late for the family’s flagship property, the 354,000-square-foot building at 2 Herald Square, which is facing a foreclosure auction as soon as February. Sitt […]

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Law firm Cahill Gordon & Reindel checking out new FiDi offices

Cahill Gordon & Reindel is looking Downtown for a new office that could be as large as 250,000 square feet.  The Financial District-based law firm has toured a handful of buildings in the neighborhood with large blocks of available space such as One World Trade Center, 28 Liberty and Brookfield Place, Crain’s reported.  But it appears to be focused on the east side of the Financial District, considering deals at 32 Old Slip and 199 Water Street.  Cahill could […]

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Jarmulowsky Bank Building developers looking for $79M in EB-5 money

Wanted: $78.5 million in EB-5 funding for a luxury hotel coming to the Lower East Side. DLJ Real Estate Capital Partners has teamed up with Advantage America New York Regional Center to line up the financing for its planned transformation of the Jarmulowsky Bank Building at 9 Orchard Street, according to EB-5 marketing materials found by the Lo-Down. The program offers legal residency to foreigners who invest a minimum of $500,000 in job-creating projects. The […]

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Dead zones: Resi agents aren’t in these NYC neighborhoods

New York’s outer boroughs may be booming, but residential agents are not flocking to every neighborhood in equal measure. The Real Deal recently analyzed data from the New York Department of State to determine which parts of the outer boroughs still have a comparatively low number of residential agents, finding that the dubious distinction belongs to Highbridge and Morrisania in the Bronx, East New York and its New Lots subsection in Brooklyn, the Rockaways in […]

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Fleetwood Mac’s Lindsey Buckingham relists LA manse for $23M

From TRD LA: Could it be Lindsey Buckingham is “afraid of changin’?” The Fleetwood Mac lead guitarist relisted his Brentwood property at its original price — $22.5 million – after it spent six months off the market. Spanning almost 11,000 square feet, the Georgian-style home includes six bedrooms, 10 bathrooms, a screening room, spa room, library and a detached guesthouse, according to the Los Angeles Times. The property boasts manicured lawns and a swimming pool. Buckingham […]

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These are the priciest sales on Connecticut’s Gold Coast

From the Westchester & Fairfield Market Report: Manicured lawns, historic architecture and luxury amenities, not to mention sweeping views, are the hallmarks of what’s come to be known as the Gold Coast of Connecticut’s Fairfield County. And although sales on the high end have slowed, there are still buyers for these oh-so-New England estates — if the price is right. In many cases, “right” means reduced. The dip in deals isn’t necessarily because the demand isn’t […]

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DoBro Shake Shack sues landlord to keep sidewalk café

The Shake Shack in Downtown Brooklyn will go to court to keep its sidewalk café. The restaurant at Fulton Street and Brooklyn Bridge Boulevard opened in 2011 and has an expansive sidewalk café with glass walls, according to the New York Post. However, the company has argued in a lawsuit that its landlord Allied Property Group, owned by Michael Chera, took away its permission for the area and has not provided them a reason why. […]

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Forest City’s head of construction to take over Brooklyn office

Robert Sanna, head of construction at Forest City New York, is taking over the company’s Brooklyn office once CEO MaryAnne Gilmartin steps down this week, according to representatives of the real estate investment trust. Sanna, executive vice president and head of construction at the REIT’s local office, is taking the helm — at least for now — after Gilmartin leaves to form a new company with principals of L&L Holding, dubbed L&L MAG. It’s not […]

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He’s baaaack: Durst appointed to Hudson River Park Trust

Manhattan Borough President Gale Brewer named Douglas Durst on Friday to the board of Hudson River Park Trust, the latest twist in the saga over the park that notoriously pitted Durst against media mogul Barry Diller. Ostensibly, Durst is there to finish the sprawling park, Crain’s reported. “I asked him to join the board—he didn’t volunteer or ask me,” Brewer said. “I think he loves the park.” Durst had been chairman of the trust’s fundraising […]

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New renderings reveal Robert A.M. Stern’s design for Related’s West Chelsea project

Renderings are out for the West Chelsea development site the Related Companies bought in October for $234 million. Starchitect Robert A.M. Stern, who designed the Abington House rental building that Related developed at West 30th Street with Abington Properties, has come up with the design for the project at 522 West 22nd Street, New York YIMBY reported. The development will include a tower overlooking Hudson River Park and a low-rise portion next door. Permits for […]

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