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Category Archives: RE News

Waldorf-Astoria is not for sale

The Waldorf Astoria isn’t for sale. That’s according to the CEO of Hilton Worldwide Holdings, which manages the iconic New York City hotel on behalf of Anbang Insurance Group. Despite reports that the Chinese firm is selling off assets, “at the moment, the Waldorf is not one of them,” Christopher Nassetta said during an earnings call Wednesday. He said Anbang plans to plow ahead with a luxury condo conversion, and noted that the hotel is […]

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Aidan Brooks buys Louis Vuitton-anchored Soho package for $83M

A group of three Italian families have sold a Soho retail building and two retail condominiums for $82.5 million, sources told The Real Deal. The buyer, Irish investor Aidan Brooks, did not acquire the properties outright, however. In an effort by the sellers to reduce their taxes on the transaction, Brooks bought shares in a Luxembourg holding company that owns the properties. The deal for the five-story building at 106 Prince Street and neighboring retail […]

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City moves ahead with plans to rezone Governors Island

The city is moving forward with plans to make way for 4.5 million square feet of development on Governors Island. The Trust for Governors Island held its first meeting this week to discuss rezoning part of the island for commercial real estate development, Crain’s reported. Though the island is zoned for residential use, a 2003 agreement with the federal government prevents the city from building housing. A 2010 masterplan for the island set aside 33 […]

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Major US cities saw sharp drops in new construction projects in 2017: report

Multifamily and commercial construction slowed in most major U.S. metro areas last year, according to a new report. Major declines in funding for new construction starts were registered in cities like New York, Miami and Los Angeles. The report by Dodge Data & Analytics tracked the 20 cities with the highest dollar contribution for new construction projects last year. The total was $194.7 billion, down from $209 billion in 2016. Dodge mostly attributed the decrease […]

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Foxy Management planning 127K sf senior center in Bronx

Foxy Management will bring another large senior building to the Bronx on a three-lot assemblage at the corner of Arthur Avenue and East 179th Street. The developer is planning a nine-story, 177-unit building spanning more than 120,000 square feet on sites at 2016 Arthur Avenue, 612 East 179th Street and 2010 Arthur Avenue. The company is purchasing the sites for about $4 million, according to the Highcap Group’s Guy Vardi, who brokered the assemblage deals along […]

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HNA sells UES mansion for $90M

An affiliate of HNA Holdings Group sold an Upper East Side mansion for $90 million less than a year after buying it, amid reports that the Chinese conglomerate is facing financial difficulties. The buyer, whose identity was not immediately clear, controls a Delaware-based entity called East 64th Street Property Holdings LLC, according to property records filed with the city Wednesday. Chen Guoqeng, the company’s co-founder, signed the deed document. HNA bought the 18,860-square-foot mansion at 19 […]

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Owner of 589 Fifth Avenue looks to sell 99-year leasehold

The owner of the H&M-anchored 589 Fifth Avenue is looking to sell a leasehold interest in the retail-and-office building. The owner, an entity controlled by London-based Mactaggart Family and Partners, is offering a leasehold interest in the 17-story, 184,000-square-foot building and a 99-year lease on the ground underneath, Real Estate Alert reported. Sources told the publication the property could be worth up to $400 million. The property’s value is driven by the five-story, 68,000-square-foot retail […]

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Solomon Feder plans 158-unit resi building for LIC

Another large residential project is on its way to Long Island City, this time from developer Solomon Feder. Feder is planning a nine-story, 158-unit residential building on the development site at 45-57 Davis Street, according to plans filed on Wednesday with the city’s Department of Buildings. The building will span about 107,000 square feet overall, with about 290 square feet carved out for retail space. Although Vorea Holdings had initially purchased the site for about […]

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Retail heavyweights turn out for children’s charity benefit

Some of the biggest names from the city’s Syrian real estate scene turned out Monday night for a charity to benefit the Center for Special Children in Lakewood, New Jersey. Jeff Sutton, Joe Cayre and Stanley and Haim Chera were among the attendees at the event, which was held at Gotham Hall. Moinian Group founder Joe Moinian was the guest of honor for the second-annual fundraiser; last year it was Larry Silverstein of Silverstein Properties. […]

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Coming soon: The Real Deal’s Long Island Market Report!

Which firms made the list of top residential brokerages in Long Island this year? Who are the most active developers on Long Island, and what pols do they need on speed dial to push their projects through? What kind of impact should the office market expect from the growing co-working trend? The Real Deal’s third annual Long Island Market Report is coming out this March and it’s packed with news and data on Nassau and […]

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