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Category Archives: RE News

Ares flips Harlem portfolio for nearly double what it paid

Ares Management flipped a five-building Harlem portfolio for nearly double what it paid for in 2012. The company sold the package at 54-62 West 125th Street for $26.5 million, according to documents filed with the city Friday. The purchase price is much higher than the $14.5 million that the company previously paid. The properties are five four-story buildings that sit between Lenox Avenue and Fifth Avenue, near the northwestern edge of Marcus Garvey Park. The […]

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For the past 15 years — beginning in New York and expanding to Miami, L.A. and recently Chicago — we have published the independent, in-depth and award-winning reporting and analysis that millions of real estate, finance and legal professionals, among others, rely on in print and daily on the web. Now, we are asking our readers to join us in the next phase of TRD as digital subscribers. Readers who consume more than 15 articles […]

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Kushners, Trumps end hotel collaboration

The Trumps and the Kushners are no longer in the hotel business together. The New York Times reports that management agreements with the Trump Organization at two Kushner Companies-owned hotels in New Jersey — one on the Jersey Shore and the other in Livingston — were recently terminated. The decision to break off the deal on the Jersey Shore initially came from the Kushner side, the Times reported, after the proposed arrangement attracted public scrutiny […]

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Back to School: NYU buys Greenwich Village resi building from Vornado for $45M

Vornado Realty Trust has sold a 27-unit residential building in Greenwich Village to New York University for $45 million, according to property records. The building is located at 27 Washington Square North and stands seven stories tall. Vornado purchased it from Duell Management in 2015 for $20 million. Representatives from Vornado and NYU did not immediately respond to requests for comment. It was not immediately clear what the university plans to do with the new […]

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A “cocktail party of mastodons, pineapples and swizzlesticks”: Hudson Yards architects talk about how projects interact

Hudson Yards might be a “cocktail party” of buildings designed to co-mingle, but it didn’t result from numerous meetings between the architects. The designers behind the megadevelopment met on the 24th floor of 10 Hudson Yards on Friday — the second time the group has convened in the project’s decade-plus history. Seven architects from the firms that designed most of the first phase of the 28-acre project spoke on a panel at an event hosted […]

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WATCH: LA’s resi experts discuss the future of the city’s housing market

 How does aspirational pricing affect the L.A.’s housing market? “Pricing artificially high gets attention, but it really hurts the fairly priced developments, Douglas Elliman’s Ernie Carswell during The Real Deal’s first-ever DTLA Spotlight event earlier this month. “What I would like to see is more reality in the pricing.” Carswell was joined by Josh Flagg, (Rodeo Realty) Nick Segal (Pacific Union), Beth Styne (Coldwell Banker), James Harris (The Agency) and Alexei Barrionuevo (The Real Deal) to discuss the […]

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Vanbarton is trying to boot commercial tenants from 990 Sixth. And the lawsuits are piling up

Vanbarton Group was sued for the third time in the past two months for allegedly pushing out office tenants at 990 Sixth Avenue. The property, called the Vogue, is a 25-story rental building with 320 apartments and four floors of offices. According to the latest suit, filed by personal injury law firm Schulman, Blitz & Williamson, Vanbarton has been negotiating buyouts with commercial tenants since January, shortly after acquiring the property in a $320 million […]

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Activist investor wants Hudson’s Bay to tap into its real estate potential

It’s been almost a year since Jonathan Litt, founder of hedge fund Land & Buildings, pleaded for retail giant Hudson’s Bay Company to change its ways. The activist investor is at it again, asking the owner of Saks Fifth Avenue to look into new ways to improve shareholder value. Specifically, he wants it to sell off some of its real estate, Bloomberg reported. In a letter to shareholders, Litt said Hudson’s Bay could learn from […]

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Katie Couric sells Park Ave. pad for $7.8M

Katie Couric is officially leaving behind her longtime home on the Upper East Side. Couric closed on the sale of her five-bedroom, four-and-a-half bath co-op at 1155 Park Avenue for $7.8 million, according to property records. It’s unclear when Couric bought the property. However, her name has been in loan documents for the home dating back to 1998. The apartment was first listed last October for $8.25 million. It went into contract with a last asking […]

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Oxford Property Group cut off from RLS

Oxford Property Group, a high-commission brokerage with 450 agents, has been abruptly cut off from the Real Estate Board of New York’s syndicated listing feed, The Real Deal has learned. Oxford also dropped its REBNY membership in recent weeks, though it’s unclear whether the firm was asked to leave or opted out on its own terms. But last week, the New York’s Department of State confirmed it is investigating complaints against the company. A spokesperson […]

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