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Category Archives: RE News

After a few years, 5 Beekman nears sellout

Three years after launching sales, 5 Beekman Street is 87 percent sold.

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Raymond Gindi adds to FiDi holdings with $38M buy

Raymond Gindi, heir to the Century 21 fashion fortune and CEO of real estate investment firm ASG Equities, paid $38.6 million for the two-story retail property 173 Broadway in the Financial District. Gindi already owns two adjacent five-story buildings at 175-177 Broadway, property records show. If he decided to tear down all three, he could build a 106,000-square-foot commercial property as of right on the corner lot facing Cortlandt Street. Gindi did not immediately respond […]

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Linda had no role in Macklowe real estate empire, says Harry

Harry Macklowe downplayed his soon-to-be-ex’s role in his real estate empire altogether.

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Japanese food hall to open in Industry City

First it was Eataly, and then it was Le District.

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Major finance firms are now targeting Brooklyn, says Industry City leasing director

Manhattan has long reigned as the financial center of the country.

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Resale prices decline for condos, rise for co-ops and townhouses

According to this week’s market reports, condominium resales are entering the market at 6.4 percent less than last year, and federal aid to high-income families is more than double what low-income families get. Residential Condo sales | PropertyShark Of the 10 top-selling condo buildings in New York in the third quarter, four were in Queens, including the Grand at Sky View Parc in Flushing, which topped the list. There were 92 units sold at a […]

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The little trick WeWork’s Adam Neumann uses to charm investors

Before WeWork’s Adam Neumann invites investors to his Chelsea HQ, he sometimes directs employees to “activate the space.”

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5Pointz trial will venture into uncharted legal territory: judge

Is graffiti an art — and does it need to be protected by the federal law? That’s the question at the heart of a trial that will determine whether developer Jerry Wolkoff has to pay damages to taggers whose works he destroyed at his 5Pointz site in Long Island City. This week, the trial in Brooklyn that will consider whether around 20 artists have a claim against the developer, who demolished his buildings and the […]

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Jackie O’s Hamptons home is under contract

The Hamptons home where Jackie Kennedy Onassis summered as a child has found a buyer at the reduced asking price of $30 million. The property, known as “Lasata,” is now owned by Tiffany’s chief creative officer Reed Krakoff, who paid $20 million for it in 2007, the New York Post reported. The property at 121 Further Lane has a six-bedroom home that features five-and-a-half bathrooms. There’s also a large pool, formal gardens and a guest […]

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Blackstone president still sees opportunity in US real estate

The U.S. real estate market may have slowed down, but Blackstone Group president Tony James still sees plenty of opportunities for profit. “Real estate is a gargantuan market,” he said during the company’s quarterly earnings media call Thursday. “There are always undermanaged assets.” Blackstone has been investing heavily in logistics real estate, hoping to capitalize in the rise of online retail, and James indicated more acquisitions are possible. “There’s just not near enough of it […]

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