Top Retail Leases in NYC January 2025
Aritzia, Grupo Gitano, Dumbo Market and Ulta among city’s top retail leases last month.| The Real Deal
Aritzia, Grupo Gitano, Dumbo Market and Ulta among city’s top retail leases last month.| The Real Deal
Taconic Investment Partners and National Real Estate Advisors are developing a luxury rental building at 312 West 43rd Street.| The Real Deal
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David Werner didn’t hesitate when a deal came his way in Hudson Yards. The real estate investor snapped up 440 Ninth Avenue in the trendy neighborhood for slightly more than $100 million in cash, Bloomberg reported. The deal for the office building, located between 34th and 35th Streets, breaks down to $243 per square foot. It’s likely a tough pill to swallow for the sellers, Taconic Investment Partners and Nuveen Real Estate, which purchased the property only seven years ago for $269 mil...| New York - The Real Deal
🏆 Residential: A pre-war triplex in Lenox Hill marked the top residential deal recorded in the Big Apple. Lois Chiles, a model and actress who starred opposite Roger Moore in the 1979 installment in the James Bond franchise, “Moonraker,” sold the three-level co-op at 953 Fifth Avenue for $12 million to a trust tied to Jacqueline McCoy. The three-bedroom co-op has a private elevator landing, wood-burning fireplace and terrace. The unit first went on the market in March 2024 with an aski...| New York - The Real Deal
Of all the criticisms leveled against Zohran Mamdani, his occupancy of a rent-stabilized apartment is probably the weakest. That’s because he is essentially paying market-rate rent, The Real Deal has learned. For his unit at 32-15 35th Street in Astoria, the socialist mayoral candidate pays what is called a preferential rent, meaning a lower amount than the landlord could charge under state law. That might look like a sweetheart deal: Mamdani pays about $2,250 a month, while the legal r...| New York - The Real Deal
A 21-story vacant office building in the Garment District was a prime candidate for a residential conversion, after a key upzoning in Manhattan. The listing for Expansion Group’s 554-568 Eighth Avenue boasted that the more than 300,000-square-foot building was ready to be converted into residential space, potentially with the use of a new property tax break available for office-to-residential conversions. But the property was among the sites the City Council carved out of the northwest se...| New York - The Real Deal
For decades, the New York City Housing Authority tried to keep up its buildings without help from the private sector. It was like using paper cups to bail out the Titanic. Even when NYCHA started enlisting developers to fix properties early in the de Blasio administration and ramped up those efforts under Mayor Eric Adams, it couldn’t make progress fast enough. The numbers are mind-boggling. In 2011, NYCHA developments needed $29.2 billion worth of work. By 2017, the number had ballooned to...| New York - The Real Deal
Jesse Hamilton, a political protege of Mayor Eric Adams who oversaw the city’s office leases, has stepped down. Hamilton resigned Thursday after being indicted on a conspiracy charge related to allegedly working with Ingrid Lewis-Martin, a former top aide to the mayor, to speed up certain developers’ projects and steer city contracts to preferred players. As deputy commissioner of real estate services for the Department of Citywide Administrative Services, Hamilton handled the city’s ...| New York - The Real Deal
Gregory C. O’Connell Jr., a progressive developer who was responsible for much of the revitalization of Brooklyn’s Red Hook neighborhood, died on August 2 at his home in Geneseo, New York. He was 83. The cause of death was pancreatic cancer, his son Gregory T. O’Connell told The New York Times. Born in Queens in 1942, O’Connell was the son of a police officer and a teacher. He made his first real estate venture when he was a student at the State University of New York (SUNY) Genes...| New York - The Real Deal
Michael Shvo’s firm is going on the attack against Core Club. After the members-only club sued Shvo for $600 million last year, an entity tied to Shvo is seeking $178 million from Core Club in a new lawsuit filed in California. Shvo alleges the ritzy social club failed to approve design plans required to build out the club’s space at the Transamerica Pyramid, leading to delays. Shvo alleges Core Club’s lack of action and delays constituted a default. And in November 2024, Shvo ultimatel...| New York - The Real Deal
New York City evictions are back to pre-pandemic levels as landlords force delinquent tenants out at the fastest clip since 2018. City marshals have removed more than 11,200 households so far this year — averaging 1,500 a month — Gothamist reported, using data from the Department of Investigations. That pace is higher than any year since 2018, when monthly evictions peaked at about 1,666 per month. There are approximately 2.2 million rental units in the city. The jump in evictions comes a...| New York - The Real Deal
Taconic Partners and National Real Estate Advisors have inked a deal to bring the discount supermarket chain Aldi to 312 West 43rd Street, known as The Ellery.| The Real Deal
The Real Estate Board of New York filed a brief explaining why the Second Circuit should reverse a lower court’s decision denying its request for a preliminary injunction to block the FARE Act and the dismissal of most of its claims.| The Real Deal
A federal judge denied REBNY's latest attempt to halt New York City’s new broker fee law, the FARE Act, which requires landlords to pay rental broker commissions, while REBNY's appeal is pending.| The Real Deal
UrbanDigs data shows rising rents and fewer listings in Manhattan after the city’s broker fee ban took effect on June 11.| The Real Deal
The first week of New York City's FARE Act saw confusion and new strategies from brokers and landlords in the rental market.| The Real Deal
The Real Estate Board of New York is appealing a federal judge’s decision to reject its motion for a preliminary injunction to halt the FARE Act and to dismiss several of the trade group’s claims.| The Real Deal
On the first day the FARE Act went into effect, listings on dropped by more than 1,000, but StreetEasy says fluctuations are normal.| The Real Deal
New listings on agent-facing platforms plummeted following New York City’s FARE Act banning broker fees, per UrbanDigs data.| The Real Deal
Loan Star Funds is picking up the debt on the New York City assets for a small discount to par.| The Real Deal
Flagstar Financial is selling a portfolio of loans, with some executed after a 2019 New York state law curbed rental income| The Real Deal
Compliance exec at bank claims termination for investigating Alessandro DiNello’s suspicious payments.| The Real Deal
Steve Croman’s father Edward Croman accused his son in a lawsuit of “rampant fraudulent mismanagement.”| The Real Deal
Capital One loaned entities connected to the notorious New York landlord a total of $30.9 million across six mortgages.| The Real Deal
The infamous New York City landlord hasn’t made any payments to his office leasing debt since August, a suit filed by Jeff Gural’s GFP Real Estate alleges.| The Real Deal
Flagstar Financial is stemming the bleeding. A top lender to the New York City rent-stabilized housing market, the bank is still facing profitability challenges. But on Friday, it posted its lowest net loss since 2023 at 19 cents per share. Flagstar has lowered its exposure to the multifamily housing market by 12 percent since last summer’s earnings release. The earnings show measured progress as the bank aims to return to profitability in the fourth quarter. Early last year, the compan...| The Real Deal
Notorious NYC landlord Steve Croman is battling seven active foreclosure cases totaling $51.4 million, including a new $29.6 million suit from Flagstar Bank.| The Real Deal
Thanks in part to stabilizing interest rates and venture capital funding returning to some hot tech sectors, tech companies are inking large office leases again.| The Real Deal
The landlord could break its Manhattan office buying drought with talks to buy 148 Lafayette Street for around $120 million| The Real Deal
Venture capital firm Andreessen Horowitz signed a lease with LaSalle Investment Management for two more floors at 200 Lafayette Street.| The Real Deal
A venture capital firm founded by Reddit co-founder and Serena Williams’ husband Alexis Ohanian inked a long-term lease for an entire Soho building.| The Real Deal
Projects are being launched in the Mott Haven and Fordham neighborhoods of the burgeoning borough.| The Real Deal
Slate Property Group’s loan to Beitel Group is latest for the rezoned South Bronx neighborhood.| The Real Deal
Median rent prices in the Bronx’s Mott Haven neighborhood soared by 31 percent from 2019 to 2023 amid a new development boom.| The Real Deal
The lending arm of Slate Property Group is providing $305 million to finance a 755-unit development in Mott Haven.| The Real Deal
The billionaire count in New York continues to rise, despite high taxes and talk of flight to zero-income-tax Florida and Texas.| The Real Deal
Unit PH2 listed in 2018 before closing in July for $28 million, down from $45 million it once sought in 2024.| The Real Deal
Michael Loeb sued his neighbor over alleged water damage to his Upper East Side townhouse, including hand-printed wallpaper.| The Real Deal
Agents Lisa Lippman, Tyler Whitman talk “blurring the lines” with clients, deals gone bad & more in notes from a resi reporter| The Real Deal
Deals for condos priced at $10M or more surged in Manhattan last quarter, up 70% from the same period in 2024, per Compass| The Real Deal
Top Sotheby’s broker Nikki Field replaced Corcoran at the helm of sales at the Billionaires’ Row supertall.| The Real Deal
The top deals recorded in NYC for July 17 include the sale of a condo at Michael Stern’s 111 West 57th Street on Billionaires’ Row for $21 million. include actress Ellie Kemper’s sale of an Upper West Side co-op for $8 million.| The Real Deal
Barry Sternlicht’s Starwood Property Trust provided the $350 million loan for the 88-story project at 125 Greenwich.| The Real Deal
Units piled up across Lower Manhattan after a mistimed development influx, leaving developers grasping at pricing amid changing demographics.| The Real Deal
Fortress Investment Group, Bizzi & Partners and Bilgili Group are seeking to refinance their existing loan at 125 Greenwich| The Real Deal
Macklowe drops Compass from One Wall Street sales, bringing on two former Douglas Elliman agents at the Financial District project.| The Real Deal
Trinity Place Holdings’ Lower Manhattan condo tower extended its debt and hired a new sales team as the building struggles to sell units.| The Real Deal
Bizzi & Partners and Fortress project hit 15% sold mark in April, putting the 272-unit development on pace for a 2031 sellout.| The Real Deal
Värde Partners was behind a $97 million loan for the 186-unit luxury multifamily property at 411 West 35th Street| The Real Deal
Young Woo’s Youngwoo & Associates is trying to unload the historic building five years after a deal to sell it fell through.| The Real Deal
MHP Real Estate Services and Banyan Street Capital are buying the Bronx General Post Office for a price in the high $70 millions.| The Real Deal
Youngwoo & Associates is among developers in talks to redevelop the landmarked Bronx General Post Office, which the U.S. Postal Service intends to sell despite an outcry from residents.| The Real Deal
Madd Equities picked up the Concourse Village site from Youngwoo & Associates for $44M, a few years after the property was on the market for $70 million.| The Real Deal
As SoftBank prepares to sell Fortress Investment Group, we look back at some of the private equity firm's memorable real estate deals.| The Real Deal
United Overseas Bank sold the loan on the condo project 125 Greenwich instead of moving forward with a foreclosure.| The Real Deal
United Overseas Bank, a Singapore-based lender, says that it is owed $187 million it advanced to the developers.| The Real Deal
The developers of the supertall condominium at 125 Greenwich Street have closed on a $473 million financing package with four Asian banks.| The Real Deal
Michael Shvo will turn himself into authorities Thursday, The Real Deal has learned. The developer is to be indicted on tax-evasion charges related to his art.| The Real Deal
The Farmingdale-based firm is planning a 106-unit project near the Long Island Rail Road station.| The Real Deal
Wary of a slowdown in high-end apartment sales and a potential supply glut, lenders are beginning to retreat from Manhattan’s luxury condominium market.| The Real Deal
Michael Shvo and Bizzi & Partners’ soaring condominium at 125 Greenwich Street will house 275 units, according to an offering plan.| The Real Deal
When Harry Macklowe saw his bet on the Manhattan office market collapse and was forced to default on a loan, his lender absorbed much of the wallop.| The Real Deal
The Real Deal looks at the revamped capital stack that enabled the comeback of one of Downtown's most awaited skyscrapers, 125 Greenwich Street.| The Real Deal
The bill opens another window into rent-stabilized vacancies. Landlords say it does nothing to fix the problem and could trigger fines.| The Real Deal
A new law extending the time to collect data is seen by landlords as a strategy to uphold rent stabilization.| The Real Deal
Landlord groups say the Housing and Vacancy Survey distorts the vacancy rates in New York City to maintain rent stabilization.| The Real Deal
As New Yorkers leave the city, a rising vacancy rate could lead to a lifting of the rent law.| The Real Deal
Safe Harbor Marinas dropped $149 million on the hospitality property that Gurney’s bought for $56.7 million in 2018.| The Real Deal
Roberta’s, a popular Bushwick-based pizza joint, plans to open a Montauk location by Memorial Day 2022 on Fort Pond Road.| The Real Deal
A judge approved the foreclosure auction of 42 Old Montauk Highway, a pagoda-style mansion that has struggled to find a buyer since 2009.| The Real Deal
New York City hotel occupancy levels have improved from the struggles of early January, but remain well below December’s highs.| The Real Deal
The Real Estate Board of New York is suing to stop the FARE Act from going into effect, alleging that it is unconstitutional.| The Real Deal
The concept of the city’s FARE Act is simple: Whoever hires the broker, pays the fee. But policing the black market won’t be.| The Real Deal
The City Council approved the FARE Act, a measure that requires whoever hires a broker to pay the commission.| The Real Deal
The Daily Dirt discusses how the indictment of Mayor Eric Adams could affect the City of Yes for Housing Opportunity.| The Real Deal
Federal authorities are investigating New York City Mayor Eric Adams for potential misconduct related to his alleged intervention in the approval process of the Turkish government’s new high-rise consulate in Manhattan. The investigation centers around Adams’ alleged pressure on New York Fire Department officials to green light the building’s occupancy, despite safety concerns raised by […]| The Real Deal
New York Attorney General Letitia James alleges Long Island’s Joseph Makhani stole deeds for 107 West 118th Street and 135 West 131st Street.| The Real Deal
State lawmakers approved the LLC Transparency Act, a bill that requires the names of owners behind shell companies to be added to a public database.| The Real Deal
New York Attorney General Letitia James arrested three members of a suspected 8-person Queens deed theft ring. Five others are fugitives.| The Real Deal
The New York Attorney General’s office proposed criminalizing deed theft, a fraudulent action that’s difficult to prosecute.| The Real Deal
Documents trace the Crown Heights eviction drama from the subprime lending bubble to what her family calls a deed scam a decade later.| The Real Deal
A Crown Heights eviction unfurled this week after tenants moved back into their home, claiming the landlord had committed deed theft.| The Real Deal
Sears & Kmart owner Transformco acquired Long Island shopping center for redevelopment| The Real Deal
Aldi supermarket and 2 retailers have inked leases for 200,000 square feet combined at Sayville Plaza shopping center in Long Island.| The Real Deal
A stalled supertall condo project at 125 Greenwich Street in the Financial District landed financing to restart construction .| The Real Deal
Sales have launched at the long-delayed Rafael Viñoly-designed condominium tower at 125 Greenwich Street, with prices ranging from $1.3 million to $6 million.| The Real Deal
The developers of a supertall Financial District condominium tower at 125 Greenwich Street are in talks to land just north of $500 million in financing.| The Real Deal
New York’s luxury condo developers are getting a fresh dose of Chinese cash, courtesy of the EB-5 program.| The Real Deal
Ikea is slated for a Fifth Avenue retail space after Ingka’s deal at Extell’s 570 Fifth Avenue for 80,000 square feet and equity| The Real Deal
HPD announced that the city’s vacancy rate fell to 1.4 percent in 2023, with only 33,000 apartments available for rent.| The Real Deal
Lloyd Goldman defaults on a $217 million loan tied to Gurney’s Montauk Resort and Seawater Spa, a luxury hotel once lauded as a pandemic winner.| The Real Deal
Gurney’s Montauk Resort, a luxury hotel in the Hamptons, was perfectly positioned to thrive in the pandemic. Here’s how it cashed in.| The Real Deal
REBNY has filed a motion seeking a preliminary injunction to block the FARE Act from going into effect while its lawsuit is pending.| The Real Deal
Mayor Eric Adams faces federal charges that he accepted bribes worth tens of thousands of dollars and illegal campaign contributions.| The Real Deal
Gov. Kathy Hochul signed a bill creating red flags for suspected deed theft scams in New York.| The Real Deal
An attorney representing Crown Heights resident Ida Robinson dropped a motion alleging the homeowner was duped in a deed theft scheme.| The Real Deal
After community opposition scuttled the last proposal, the Long Island firm is back with a significantly smaller project and new design.| The Real Deal
