The Real Deal App

Download The Real Deal s mobile app Latest update includes cleaner design and easier navigation

The Real Deal is bringing a cleaner design and more seamless navigation to our latest mobile update, which is now available for download in Apple s App store.

The latest version of our app includes a separate feed for our new Los Angeles website, w新上海贵族宝贝论坛 上海贵族宝贝交流区hich joined The Real Deal s family of news websites in January. An updated navigation bar allows readers to access each of the three markets with ease, and a new National tab aggregates our New York, South Florida and Los Angeles websites into one stream.

We ve also incorporated a smoother, sleeker desig上海千花社区 上海千花网交友n. A new feature, which is located on the bottom left of a post, lets users increase the text size for easier reading. Like our previous app, you can text, email or share stories to your social media sites, via the icons 上海贵族宝贝论坛 上海贵族宝贝located on the bottom of each post. You can also search for stories you may have missed by c爱上海龙凤419桑拿 上海龙凤论坛sh1flicking on the magnifying glass in the top right corner of the homepage.

Click here to download the iPhone app, or search for “The Real Deal” in the App Store.上海龙凤论坛sh1f 上海龙凤论坛 Android users, keep an eye out in the near future we ll have an updated app soon.

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Manhattan Condo Sales

Scorecard: Closings from the condo boom still rolling in A monthly roundup of data and reports on the residential market

From the December issue: Through the month of October, the total dollar volume of recorded Manhattan condo sales sat at the highest point of any of the last five years, an analysis by The Real Deal of public sales data found. In the first 10 months of 2016 ther上海千花网论坛 上海千花网e was $14.8爱上海 爱上海同城手机版2 billion in condo transactions, up 26 percent from the same period in 2015.

If you’re surprised that 上海龙凤论坛sh1f 上海龙凤论坛the known slowdown in high-end sales isn’t reflected here, that’s because the market is still flooded with closings from the condo boom of yore, said Citi Habitats’ Brian Morgan. “A lot of new construction that went into contract years ago is just closing now,” he explained. Ultra-luxury new developments still closing on old contracts skew the more modest resales figures, Morgan added.

Although the total dollar volume of condos sold is still pushing upward, the median price of a Manhattan condo was down 15 percent year-over-year in October to $1.33 million, according to a report from Corcoran Group. If that kind of drop is sustained, it could mean more of the condo stock will be in competition with typically lower-priced co-ops. In such a case, MDRN Residential’s Zach Ehrlich pointed out, co-ops typically lose.

“If 上海龙凤论坛 新上海贵族宝贝论坛you’re talking about the same inventory, the market is going to favor condos,” he said, noting that since condos are easier to finance and easier to get approved for, buyers will choose them over co-ops when given th阿爱上海同城 阿拉爱上海同城e choice.

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Million Dollar Listing

“Million Dollar Listing NY”: Bi上海千花社区 上海千花网交友ting the hand that sells Recap of season 6, episode 5

From left: Steve Gold, Ryan Serhant and Fredrik Eklund

On this week’s episode of “Million Dollar Listing New York,” Steve mixes friendship and business, while Ryan deals with the downside of viral fame. Fredrik is getting the ball rolling at 45 East 22nd Street, but goes head-to-head with the developer over one of the building’s priciest pads.

Here’s where we left our three heroes:

Bite the hand that sells

While there are no rules advising a broker against representing his or her close pal, maybe there should be. Steve agrees to sell the West Chelsea apartment of a good friend named Sam, an interior designer whom he hopes could open some doors to future clients. To put the icing on the cake, Steve assures him he can sell the cool-yet-customized pad for more than the $900,000 he wants for it. Sam isn t so hot on the idea at first, but ultimately settles on a $1.2 million price tag.

“Anytime you give a seller a price that s 30 percent more than they re thinking, it s a risk,” Steve says. “But I think that number is right, I really do. I just hope the other brokers think so, too.”

Unfortunately, they do not. The first set of private showings begins on a bad note when Sam fails to relocate 上海贵族宝贝论坛 上海贵族宝贝his incredibly cute yet alarmingly yappy dogs from the apartment. The piercing pups, however, turn out to be the least of Steve’s concerns. The potential buyers are unimpressed by Sam’s “upgrades,” with the highest offer coming in at $1 million. He changes course by scheduling an open house a move he thinks will bring in the “right” type of crowd to this unique apartment. Only Sam doesn t want a crowd at all. When Steve shows up for the open house, Sam launches into a fit of sleep-deprived rage. Having just flown in from London, he forces Ste上海夜网 阿爱上海同城ve to cancel the event so he can get some rest.

What s more important? A measly $1.2 million, or sleep?

The Fat Broker

It appears that Ryan has met his match. After losing out on a townhouse on the Upper West Side, he fields a call from his brother, who wants to help his buddy find an apartment in the city. Nick seems like a fairly reasonable guy an up-and-comer who’s looking for a two-bedroom apartment in the range of $2 million to $3 million. What s not so reasonable is that Josh “The Fat Jew” Ostrovsky must accompany him to each and every listing appointment. The viral comedian inserts his limited real estate knowledge at each and every turn, making it nearly impossible for Ryan to do his job.

“He’s ridiculous, but it’s funny,” Ryan says. “But at the same time, it’s hard enough getting a buyer to focus on their own, because they’re nervous to be spending millions of dollars.”

Finding the ideal two-bedroom apartment in Manhattan at his price range is also proving to be a difficult task. Once he sees what his money can (and can t) get him, Nick bumps the budget up to $4 million. He takes advantage of a very small window where The Fat[……]

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Americold

Steve Schwarzman and Ron Burkle are fighting over a 165-building portfolio Americold CEO doesn’t think $3B bid for warehouses is high enough

From left: Ron Burkle and Stephen Schwarzman

The Blackstone Group is looking to double down on the logistics sector. Steven Schwarzman’s private equity firm bid $3 billion for refrigerated warehouse provider Americold, which is owned by investor Ron Burkle’s Yucaipa.

Burkle, however, is holding out for a higher bid, the New York Post reported, and it’s possible he will take the company public instead.

Americold, which manages 165 warehouses, including abo上海龙凤论坛 新上海贵族宝贝论坛ut a half dozen in California, ran through six CEOs between 2003 and 2010 but has rece上海夜网论坛 上海夜网ntly steadied itself.

Earlier this year, Blackst上海同城对对碰交友社区 上海夜网论坛one reportedly bid for Singapore-based Global Logistic Properties. Earlier this year, Blackstone agreed to sell European warehouse company Logicor to C上海千花网 爱上海同城对对碰hina Investment Corporation for about $13.75 billion.

Warehouses are attracting a growing number of investors in part because of the rise of online retail. In fact, one of the reasons Blackstone called off the sale of a mall in Australia for $2.8 billion was the looming presence of Amazon, which spooked buyers. [NYP] Konrad Putzier

Tags: blackstone group, Commercial Real Estate, ron burkle
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Zeckendorf

What were the priciest condo projects of the past 40 years? The Zeckendorfs make an appearance every decade

From left: (top) 200 East 69th Street, 160 West 66th Street, 845 United Nations Plaza, 1 Central Park West, 15 Central Park West, (bottom) 768 Fifth Avenue, 432 Park Avenue, 157 West 57th Street and 133 West 11th Street

Zeckendorf Towers began rising above Union Square at a time when co-ops were still king and the concept of condominium buildings was relatively new in the city.

In the late 1980s, when the project s developer submitted plans for the condo towers, Union Square had not yet hit its stride, and the project s site — once the flagship location of discount department store S. Klein — had sat vacant for two decades. Still, developer William Zeckendorf Jr. believed that transportation options near Union Square would help lead to the area s revival, a bet that paid off.

William Zeckendorf

It was a challenging project. A lot of people thought he was too much of a pioneer at the time, William Lie Zeckendorf said of his father. That was a neighborhood transition project.

Roughly 10 years later, his two sons, Arthur and William Lie Zeckendorf, who launched their own company Zeckendorf Development, would take an爱上海同城论坛 爱上海同城other risk at 515 Park Avenue. The condo building featured units three times the爱上海同城 爱上海 size of the those in the Union Square project — an average of 3,000 square feet — and was expected to command the unheard of price of $2,000 per square foot.

Arthur and I worked on that deal for two to three years, William Lie Zeckendorf said. It was a hard sell. Investors didn t believe that you could get that.

He noted that he and his brother have taken a different strategy than their father, focusing exclusively on the ultraluxury segment of the market. (Their father also developed office and hotel projects.) They also typically only work on one project every two years, whereas their father would take on several — at one time half a dozen — at once. To mitigate risk, the brothers try not to rely heavily on bank financing.

In every decade since the 1980s, the Zeckendorf family initiated at least one of the city s most expensive condo projects. These Included Central Park Place, Zeckendorf Towers, 515 Park Avenue, 15 Central Park West and 520 Park Avenue. Zeckendorf Development s 15 Central Park West — often cited as the city s most exclusive address —  had the highest initial projected sellout of any of the family s condo projects proposed between 2000 and 2017, weighing in at $1.7 billion, according to a data analysis by The Real Deal. 

To get a closer look at the projects that have dominated the high-end condo market, TRD compiled data on the priciest condo projects — by the original sellout price registered with the New York State Attorney General s office — for each of the past three decades and the current one so far. For the 1980s through the 2000s, we included projects according to their filing date. For the most recent developments, w[……]

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46

Appellate court clears the way for Gansevoort project Preservation group’s suit had held up Aurora and William Gottlieb’s development

70-74 Gansevoort Street (Credit: Aurora Capital Associates)

A state appellate division has cleared the way for Aurora Capital Associates and William Gottlieb Real Estate s controversial Gansevoort Street project.

In a decision released on Tuesday, a panel of judges ruled in favor of the developers, finding tha上海夜网论坛 上海夜网t the Landmarks 爱上海 爱上海同城手机版Preservation Commission acted rationally when it issued a certificate of appropriateness for 60-74 Gansevoort Street. According to the decision, Landmarks acted with due regard for the historical爱上海同城对对碰 爱上海同城论坛 and architectural styles in the district.

Only after the developer presented a suitably tailored proposal did the Commission issue a COA for alteration and demolition, the decision states.

A local preservation group, Save Gansevoort, had sued Landmarks and the上海贵族宝贝交流区 上海贵族宝贝论坛 developers in October 2016, claiming that commission improperly approved part of the project. The group argued that Landmarks wrongly relied on a historic period that predated the area’s identity as a meat market district when it approved 60-74 Gansevoort Street.

The full project, at 46-74 Gansevoort Street, is expected to feature roughly 100,000 square feet of retail space.

Save Gansevoort s lawsuit was dismissed in March, but the group appealed the decision. The appeal held up the project for several months. In August, the court halted all exterior work on the development until a decision was issued in the appeal.

Representatives for Save Gansevoort and Landmarks didn t immediately return messages seeking comment. The developers declined to comment on the decision.

Tags: aurora capital associates, Commercial Real Estate, Development, william gottlieb
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Stuart Elliott The Real Deal

What do you get when you cross an Iranian, an Israeli and a WASP from Long Island?

It sounds like the setup for a bad joke, but it’s the founding story of The Real Deal, which started 15 years ago this month. Check out the look back at the past decade and a half of our history — and that of New York City real estate — here.

Our publisher and founder, Amir Korangy, fled Tehran as a child during the Iranian Revolution, eventually making his way to the Big Apple. Our advertising director, Yoav Barilan, left behind communal living in a kibbutz in Galilee before befriending Amir in college. Meanwhile, my journey involved only a 30-minute train ride, which turned out to be a longer trip spiritually than geographically.

Stuart Elliott

We all met in Amir’s apartment in Prospect Heights, Brooklyn, near the start of the millennium because he had an idea for a new publication. He was investing in brownstones, and there wasn’t anything out there that covered what was really going on — nothing on the big deals and dealmakers, nothing focused on the kind of news that people in the industry could use. All the city’s brokers were reading feature stories in the Sunday New York Times real estate section instead. We could provide transparency about the market, and a level playing field for everyone, from everywhere, Amir said. It sounded like a good idea. 

And here we are a decade and a half later. Our trio grew into a 70-person company, with the blood and sweat of other veterans such as senior editor Jill Noonan and research di爱上海同城对对碰 爱上海同城论坛rector Adam Pincus, alongside newer stars heading up editorial and advertising, who are drivers of TRD’s growth in 2018. We’ve spread out to new cities, including, if you haven’t heard, a new website for Chicago launching this month.

But our founding friendship — between two people whose countries are sworn enemies — and that mission, to “follow the money” as it sloshes around the city and around the world, are even more important today than when we started.

This publication began at the birth of the condo boom in 2003. If the attacks of Sept. 11 brought violence from the rest of the world to our doorstep, then the condo boom brought the ill-gotten riches from abroad. That foreign 新爱上海同城对对碰论坛 上海同城对对碰交友社区money helped create business networks that are now being investigated for infecting our government at the highest level (though you might disagree with that premise if you are a Trump supporter).

That wasn’t at all apparent when we first started reporting — when the focus during the building boom was on the coolest new amenities, like pet上海贵族宝贝交流区 上海贵族宝贝论坛 spas and concierge services.

These days, election meddling in the U.S. and nerve agent attacks in Britain are a clear part of what’s starting to shift the lax attitude toward illicit foreign money getting parked in real estate.上海夜网 阿爱上海同城 The answer to this problem is not nativism but a targeted approach to shining a light on corruption and enacting reforms that will benefit the country’s health, a爱上海同城论坛 爱上海同城s well a[……]

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Mack

Westchester Fairfield Cheat Sheet: Plans for new MLS announced, Mack-Cali sells pair of White Plains offices … more

Clockwise from top left: LLCs shell out a total of $16M for Mack-Cali office buildings in White Plains, Briarcliff Manor home designed by UN architect is on the market, proposal to transform former IBM campus into school could improve Westchester’s office market vacancy rate, and Norwalk retail development moving forward after judge declines to hear opponents’ appeal.

Hudson Gateway Multiple Listing Service and Long Island MLS announce merger
The Multiple Listing Service of Long Island and the Hudson Gateway Multiple Listing Service announced plans to merge this week. The new MLS will encompass 40,000 real estate professionals, serving Nassau, Suffolk, Queens, Brooklyn, Manhattan, Bronx, and Westchester, Putnam, Rockland, Sullivan and Orange Counties, according to a joint statement from the two listings services. Expected to launch in 2019, the yet-t0-be-named MLS will be lead by senior vice president of the Long Island MLS, Jim Speer. [TRD]

LLCs shell out a total of $16M for Mack-Cali office buildings in White Plains
A pair of office buildings in White Plains have sold to two different LLCs for a total of $16 million, the Westchester County Business Journal reported. 1 Barker Ave. LLC and 3 Barker Ave. LLC snapped up a six-story, 68,00上海贵族宝贝 上海千花网龙凤论坛0-square-foot building at 1 Barker Avenue and a six-story, 65,300-square-foot building at 爱上海同城论坛 爱上海同城3 Barker Avenue from Mack-Cali Realty Corp. for $9.3 million and $6.7 million respectively. Spring Valley’s Exclusive Management, which is developing a mixed-use project at the White Plains Mall property, will manage the two properties, according to the outlet. Mack-Cali shed millions of dollars in assets last year and has continued to do so this year. The White Plains sales come as Mack-Cali continues to focus on its New Jersey markets, senior vice president of corporate communications Deidre Crockett told the outlet. [WBJ]

Department of Planning approves plans for 40-key hotel in Danbury
Danbury’s Department of Planning and Zoning approved plans to convert a school into a 40-room hotel, the Stamford Advocate reported. As part of the plan, the Paul Mitchell School, a cosmetology school that currently operates out of 2 National Place, would relocate to another part of Danbury. The three-story building would undergo an interior renovation, and the developer would add to the first floor while also creating a new patio area, according to the outlet. The hotel would likely cater to the medical community and to medical students’ relatives, since Danbury Hospital isn’t far away, sources said. “We don’t really have a hotel downtown and we need one,” City Center Danbury director Betsy Paynter told the outlet. The project will now advance to the permitting phase of development. [Stamford Advocate]

Developers propose transforming Somers IBM campus into a school
A school campus development company hopes to turn the f[……]

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Priciest Apartments Manhattan

Here are the week’s top lux上海千花网 爱上海同城对对碰ury sales An interactive look at where the biggest deals were struck, plus total overall sales and average prices for the新爱上海同城对对碰论坛 上海同城对对碰交友社区 week (click on numbers to see data)
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Budweiser’s Long Island distributor to close, lease Melville facility

C上海贵族宝贝交流区 上海贵族宝贝论坛lare Rose, the exclusive distributor of Anheuser-Busch InBev products for Long Island, plans to shutter its Melville distribution facility in March, according to Newsday. The privately owned company, which recently laid off 14 employees, nearly two years after resolving a上海贵族宝贝交流区 上海贵族宝贝论坛 strike with delivery drivers and warehouse workers, plans to consolidate its operations at its headquarters in the Rose Executive Park in East Yaphank. Clare Rose opened its Melville facility at 255 Pinelaw阿拉爱上海同城 爱上海龙凤419桑拿n Road in 1995. The 125,000-square-foot facility has about a dozen loading docks. Clare Rose plans to lease the Melville building to another tenant.上海千花网龙凤论坛 上海千花社区 [Newsday]

Tags上海同城对对碰交友社区 上海夜网论坛: long island
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