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Category Archives: RE News

Critics accuse multifamily developers of building “terrible” cookie-cutter housing stock across the US

The proliferation of multifamily housing across major U.S. cities in the last few years has been great for battling the housing crisis in many cities, but there’s no question that the ubiquitous, and rather bland, appearance of many new buildings leaves much to be desired. Across the country, much of the new multifamily housing stock bears familiar features — boxy structures with flat fenestration and uniform facades — and critics are up in arms, calling […]

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The Strand’s building could become an official landmark despite owner’s opposition

Landmarking is often seen as way of honoring important buildings, and a defense against excessive development. But what if preserving a building comes at the expense of the famous store it houses inside? That is the conundrum facing the Landmarks Preservation Commission as the agency decides whether or not to officially landmark The Strand bookstore’s building. Owner Nancy Bass Wyden testified to the LPC on Tuesday that the increased operational costs associated with landmark designation […]

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How real estate mogul Mike Meldman got into the tequila business with George Clooney

George Clooney’s birthday golf trips ended up working out very well for real estate tycoon Mike Meldman. Clooney and his friends would often celebrate his birthday at projects owned by Meldman’s Discovery Land Company, which is how the two initially met, according to Business Insider. Meldman eventually became one of Clooney’s friends himself, and they wound up as business partners in the tequila industry. That venture worked out well for Meldman as well, as he, […]

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HUD gives housing groups $23M to fight discrimination

The Department of Housing and Urban Development awarded nearly 80 groups with $23 million to investigate housing discrimination. The funds are being provided through HUD’s Private Enforcement Initiative program, which awards grant money to organizations that “conduct intake, testing, investigation and litigation of fair housing complaints under the Fair Housing Act,” according to the agency’s website. This year, two New York City-based organizations each received $300,000 each in funding: Fair Housing Justice Center and Brooklyn […]

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Inside look: Photos from TRD’s tour of Zaha Hadid Architect’s One Thousand Museum condo

One Thousand Museum is months away from opening and The Real Deal got an inside look at the progress to date. Construction on the 62-story luxury condominium building is expected to wrap up by March 2019. Housing 83 units, the building is 82 percent sold, according to the building’s sales director, Harvey Daniels of ONE Sotheby’s International Realty. The development team, which includes Louis Birdman, Gregg Covin, Todd Michael Glaser, Kevin Venger, Gilberto Bomeny and […]

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Trump name returns to marketing efforts for namesake Chicago tower

Months after broker RKF released a marketing brochure for 401 North Wabash Avenue — known to most Chicagoans as Trump Tower — that did not include the president’s name, a new brokerage launched an advertising push that returns the Trump brand front and center. This spring, RKF released a flyer in search of tenants for the building’s 64,000 square feet of unleased retail space facing the Chicago River. Not only did the brochure leave out […]

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Serious inquiries only: $100K deposit required for first look at this Miami condo

The Trump Group is offering a limited number of brokers’ clients the chance to peruse floor plans and pre-opening prices for The Estates at Acqualina’s north tower in Sunny Isles Beach. The catch: A prospective buyer must pay a $100,000 refundable deposit to get on the list. Developer Jules Trump said he is limiting the offer to brokers his firm has dealt with before, and will cap the reservations at 15. A buyer can use […]

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Placester, tech platform for real estate professionals, slashes staff amid shakeup

Real estate tech platform Placester, which was valued at $200 million last year, has laid off more than 100 employees in a companywide restructuring that will return it to “development mode.” Changes at the Boston-based firm that provides mobile services to real estate professionals, included its top executive. Its original CEO and co-founder Matt Barba will return, according to Inman. He had been replaced by Omar Hussain earlier this year. Hussain arrived at the company […]

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Gucci inks longer term lease in Soho

Gucci has extended its lease in Soho for at least 10 years. The company signed a short-term lease at 375 West Broadway last year, its first location in the neighborhood. Now, Gucci has extended its lease in the 10,000-square-foot space for a decade or more, Crain’s reported. The details of the lease were not immediately available, but asking rents in Soho in the third quarter were an average of $417 per square foot, according to […]

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REBNY to hike dues 20% for commercial brokers and property owners

The Real Estate Board of New York will raise dues on commercial brokers and property owners by 20 percent next year, sources told The Real Deal. REBNY’s executive committee voted in mid-November to increase dues on its commercial-brokerage and owners-and-builders divisions starting in 2019, according to a record of the meeting. Sources told TRD that the trade group informed members of the dues-increases Friday. Representatives for REBNY were not immediately available for comment. It wasn’t […]

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