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Category Archives: RE News

Why brokers often market Manhattan townhouses as being bigger than city records claim

Some Manhattan brokers are including square footage that doesn’t actually exist in townhouse listings, in order to make the homes seem bigger, according to a recent analysis. StreetEasy ran a review of townhouse listings, the Wall Street Journal reported, and found several inconsistencies between multiple listings on the same properties. When a home was listed more than once in the last 10 years, 55 percent of them had a different square footage between the listings, […]

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Trump’s lawyer threatens to lodge a complaint against special counsel Mueller if he investigates Trump’s real estate deals

President Donald Trump’s lawyer, Jay Sekulow, told The New Yorker this week that the president’s legal team would consider it out of bounds for special counsel Robert Mueller to investigate a business deal Trump pursued in Georgia six years ago with a Kazhak oligarch who has direct links to Russian President Vladimir Putin. “The Georgia real-estate deal is something we would consider out of scope,” Sekulow told the publication. “Georgia is not Russia.” He noted that […]

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NYC rental market is getting worse for poorest families: report

New York’s rising housing costs are hitting the poorest families the hardest, according to a new StreetEasy study. Median rents increased 3.9 percent since 2010 but median wages only rose 1.8 percent, the study notes. But for the city’s poorest 20 percent, median rents rose 4.9 percent while median wages fell 1.1 percent, meaning they are far less likely to be able to afford housing, DNAinfo reported. “As New Yorkers — particularly the lowest earners […]

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Netflix original: Streaming giant subleases in Chelsea from Twitter

Netflix is coming to Chelsea this fall, after signing a lease for its first office in New York City. The Silicon Valley-based streaming giant inked a deal to sublease 11,592 square feet from Twitter at 245 West 17th Street, according to CBRE, which represented Netflix. Last year, Twitter offered 24,000 square feet on the second and third floors of its Chelsea headquarters for short-term lease. The asking rent was in the mid-to-high $60s per square […]

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“I want to extend my deepest sympathies and remorse”: Sean Ludwick takes plea deal in deadly DWI crash

Sean Ludwick pleaded guilty Tuesday to crashing his car in a drunk driving accident in the Hamptons in 2015 that killed his passenger, Douglas Elliman broker Paul Hansen. The plea deal will see the developer serve between three and nine years in prison. “I’d just like to say I’m very sorry,” Ludwick said in a Central Islip court Tuesday, 27East reported. “I feel awful for the circumstances. I want to extend my deepest sympathies and […]

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Tishman Speyer shops Midtown office building

Tishman Speyer and Cogswell Realty are shopping their Midtown office building on Madison Avenue, a property valued at roughly $255 million. The companies are selling 183 Madison Avenue, a 274,000-square-foot Art Deco building at East 34th Street and Madison Avenue, Real Estate Alert reported. Tishman and Cogswell bought the building in 2014 for $185 million from Argentinian investment company IRSA. The building is 88 percent leased, according to CoStar, and has an estimated value of […]

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Judge delays 111 West 57th Street foreclosure ruling

Is Michael Stern and Kevin Maloney’s supertall condominium project 111 West 57th Street heading into foreclosure? We’ll have to wait in suspense a little while longer. A New York State Supreme Court judge postponed until Monday a ruling on whether the foreclosure can proceed. Last month, Spruce Capital, which recently bought a $25 million slice of the tower’s mezzanine debt, started a strict foreclosure process, which would transfer ownership without going through an open auction. […]

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We’re less than one month away from TRD’s debut California event!

Tickets are on sale for The Real Deal’s first-ever California Real Estate Showcase and Forum on Thursday, Sept. 14! Click to purchase tickets Our two panels will dive into into the city’s residential scene — from single-family pads to spec homes to the hottest DTLA condos — as well its commercial market. Confirmed panelists include Carl Muhlstein (JLL), Steve Silk (Eastdil Secured), Chris Rising (Rising Realty), Michael Nourmand (Nourmand & Associates) and Jade Mills (Coldwell Banker). A look […]

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Community groups continue fight against Two Bridges megaprojects

Community groups are trying to force a public review of three planned projects in the Two Bridges area, a move that could force the developers to negotiate on building heights. JDS Development Group, Starrett Corporation and a partnership between L&M Development Partners and CIM Group want the city to update a 1970s-era special plan so that they can build three separate buildings at heights ranging between 724 to 1,000 feet, Crain’s reported. Michael Stern’s JDS […]

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Slate picks up West Village rental for over $1,000 a foot

Slate Property Group bought a 32-unit rental building on West 10th street for $21 million, or $1,046 per square foot, sources told The Real Deal. Along with the 32 residential units, the building at 236 West 10th Street has two retail units. A total of 53 percent of the units are free market, and the six-story building has 50 feet of frontage. The Ragone family has owned the building for more the 60 years, sources […]

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