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Category Archives: RE News

HAP Investments buys Tribeca site for its next condo project

HAP Investments has purchased a development site in Tribeca for $46 million, where it is planning to build a 40-unit condominium project, sources told The Real Deal. The site is located at 65 Franklin Street, right by Broadway, and HAP purchased it from Miami-based Crescent Heights Realty, which was co-founded by Sonny Kahn, Russell Galbut and Bruce Menin. The property contains 64,430 buildable square feet, although this can increase to 77,000 with additional air rights. […]

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Tudor-style Gramercy penthouse finally sells for $4.4M

A meticulously detailed Tudor-style penthouse that languished on the market for years has finally found a buyer, property records filed with the city Thursday show. Former art dealer and Wall Street computer expert Janos Aranyi lived at the Gramercy apartment for 51 years before selling it last month for $4.4 million. When reached by phone, Aranyi said that he could not recall the name of the buyer, but only that it was a New Jersey-based […]

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HNA unloads 1180 Sixth Avenue to Northwood amid selling spree

In the latest purge of its U.S. assets, HNA Group has sold the Midtown office building at 1180 Sixth Avenue. Northwood Investors, an investment firm led by John Kukral, picked up the 22-story, 384,000-square-foot property from HNA and its partner MHP Real Estate Services for north of $300 million, The Real Deal has learned. The embattled Chinese conglomerate was hoping to get a head start last year in selling off its cash-strapped assets. HNA Property […]

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Bronx tenants who pay rent on time can build credit under new program

Paying the rent on time will now give tenants at 27 South Bronx buildings a chance to improve or establish credit. This is part of a new program that City Comptroller Scott Stringer and the Banana Kelly Community Improvement Association have launched, according to Crain’s. Stringer estimated that 57 percent of renters with credit history across the city could boost their score by up to 10 points under the program, and 19 percent could see […]

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Brokers no longer need to buy stock to join Brooklyn MLS

Buying a $20,000 share of stock will no longer be necessary for brokers looking to join Brooklyn MLS. The organization’s board of directors announced on Thursday that real estate professionals interested in joining will now have the option to join as subsidiary members, a new class of membership that will not require the previously mandatory stock purchase. Subsidiary brokers will have the same listing and selling rights as shareholders, and they will also have access […]

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Bruce Willis buying $8M pad at Silverstein, Elad condo project

“Die Hard” actor Bruce Willis is buying hard. Willis and his wife, Emma, are signed a contract to buy a 3,000-square-foot condo at One West End Avenue, the Wall Street Journal reported. Listing brokers Fredrik Eklund and John Gomes declined to disclose the final price for the four-bedroom pad, which was last asking $7.9 million. The Willises recently sold their co-op at 271 Central Park West, which was asking $17.75 million. The unit went into […]

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AEW Capital lands $180M loan for Hudson Square acquisition

Boston-based investment manager AEW Capital landed a $180 million loan for its acquisition of Hudson Square office tower 330 Hudson Street. The lender for the new mortgage is Massachusetts Mutual Life Insurance Company, which assumed the existing $178 million debt on the property from a consortium of lenders led by American General Life Insurance. The loan package also includes a $1.9 million gap mortgage. AEW went into contract on the building in late 2017, as […]

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Hamilton mania: Cyber café inks deal for St. Mark’s building once owned by founding father’s son

Let’s see Lin-Manuel Miranda write a rap about this. Internet and gaming hotspot Wanyoo Café inked a lease for a new location at 4 St. Mark’s Place, which was formerly the home of the founding father’s son. Wanyoo, which has a location in Flushing and last year completed a $30 million Series D funding round, signed a 20-year lease at the renovated building. The deal covers 2,600 square feet on the ground floor and 1,400 […]

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Bank of America signs 190K sf renewal at Brookfield Place

Bank of America completed an early renewal for four floors at Brookfield Place in Lower Manhattan, sources told The Real Deal. The company signed a deal for 189,124 square feet across floors 37 to 40 at Brookfield Property Partner’s 225 Liberty Street. Bank of America last renewed its lease in 2011, when the 44-story building was still known as 2 World Financial Center. That lease was set to expire in September 2020. Bank of America’s […]

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Saunders & Associates, Meg Salem take off the gloves in ugly Hamptons court battle

It was at the quintessential Hamptons luncheon the Golden Pear that agent Jesse Spooner says his boss Meg Salem, a top producer at Saunders & Associates, made her fateful pitch. While Salem was making the case for Spooner and the rest of the team to follow her to upstart venture-backed Compass, a colleague was at Salem’s home printing out some real estate listings that belonged to her and some that did not, he testified at […]

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