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The Real Deal NYC

Existing home sales rose in US for second consecutive month

Resales in the U.S. increased in March, the second consecutive month of positive growth. Sales of existing homes increased by 1.1 percent last month to hit a seasonally annual rate of 5.6 million, according to the Wall Street Journal. Last year, sales in March dropped by 1.2 percent. Home sales dropped in December and January but then rose in February and March. Based on the current pace of sales, March had a 3.6-month supply of […]

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Brookfield to incubate new retail ideas with Bleecker Street portfolio

Brookfield Property Partners is planning on conducting something of a retail experiment with the portfolio of properties on Bleecker Street it bought from New York REIT for $31.5 million. The global investor plans to create an incubator for emerging online brands or new retail concepts to get a feel for the market and try out their brick-and-mortar strategies, the Wall Street Journal reported. Brookfield is also reaching out to other owners on the shopping strip […]

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Manhattan’s luxury market notched 37 contracts last week: Olshan

Manhattan’s luxury market recorded 37 contracts at $4 million and above last week, according to Olshan Realty’s weekly luxury market report. That was tied for the best week since May of 2017. The final sponsor apartment at the Rudin Organization’s Greenwich Lane took the top spot for the week. The condominium, PHE, had an asking price of $17.75 million. The duplex penthouse at 155 West 11th Street spans 3,486 square feet with three bedrooms, three […]

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Kushner Companies offers to buy Park Ave. co-op for $250M

Kushner Companies has offered to buy the luxury co-op building at 417 Park Avenue for $250 million, a new report claims. The co-op board at the 13-floor, 26-unit apartment building met on March 28 to discuss a “letter of interest” from Kushner offering to buy all 10,000 apartment shares, the New York Post reported. The price breaks down to an average of $8.9 million per apartment. Representatives from Billy Macklowe’s William Macklowe Company also approached […]

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Sean Hannity has quietly amassed a vast $90M real estate portfolio, records in Michael Cohen case show

Documents filed in Michael Cohen’s court case have revealed that his client and Fox News host Sean Hannity has quietly amassed a real estate portfolio spanning nearly 900 residential units across several states. Records show that Hannity used multiple LLCs to build a real estate portfolio with at least 877 residential units that he bought for a total of nearly $89 million, the Guardian reported. The portfolio includes luxury mansions and rentals for low-income families. […]

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The Real Deal turns 15: Never a dull moment

A stroll down memory lane.

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Research, data firms ink leases spanning more than 100K sf at Brookfield Place

Two research-centric ventures are moving to Brookfield Place. MDRC, a research nonprofit dedicated to helping poor Americans, inked a 55,000-square feet at Brookfield Property Partners’ 200 Vesey Street, Commercial Observer reported. MDRC was previously at 16 East 34th Street. Meanwhile, health care data analytics company IQVIA (formerly known as QuintilesIMS) is taking 46,000 square feet at 300 Vesey Street. Asking rents in the Lower Manhattan office complex range from the mid-$50s to the mid-$70s. JLL […]

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Broker who married wealthy mogul at center of dispute over hubby’s will

A residential broker who married an older, wealthy knickknack mogul just 10 months before he died is at the center of a battle over a $32 million inheritance. Brett Jordan, whose Linkedin page shows he works at Bond New York, married Christmas-ceramics millionaire Edward Bazinet in a “secret” civil ceremony in November 2017, the New York Post reported. That was just 10 months before Bazinet passed away due to a protracted illness. But Bazinet’s family […]

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Homesharing is growing in China amid millions of vacant homes

Homesharing in China on sites like Airbnb and Tujia is on the rise as the country amid an increasing number of vacant homes. Rising real estate prices and a growing housing supply have produced “ghost towns” with more than 50 million vacant homes in the country, according to figures cited by Skift. Chinese homeowners are increasingly using homesharing sites as a mainstay source of income, rather than to supplement their incomes. Yang Changle, the chief […]

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Victim in fatal Trump Tower detested prez, thought about selling

The Trump Tower resident who died when a fire broke out inside his apartment earlier this month had previously thought about selling the home, but found too many others with the same idea. Todd Brassner, 67, was appalled when Donald Trump won the Republican nomination and then the presidency, his friend Rachael Caine told the Huffington Post. He started to hate living in the building with Trump’s name on it, as well as the constant […]

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