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At the desk of: Anthony Lolli

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From the December issue

Starchitect Zaha Hadid to design first skyscraper in Western Hemisphere

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From the South Florida site: World-renowned architect Zaha Hadid will be designing her first skyscraper in the Western Hemisphere, at 1000 Biscayne Boulevard in Miami, The Real Deal has learned. The starchitect made news this summer in New York after she was named a finalist for the redevelopment of 425 Park Avenue. She was in the running with other high-profile architects Rem Koolhaas, Norman Foster and Richard Rogers. Foster was selected. [more]

Top stories

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The top stories yesterday on The Real Deal: 1. City quietly offering landlords cash to ban resident smokers, Newmark Grubb Knight Frank goes global … and more 2. Extell taps Adrian Smith + Gordon Gill to design new 57th Street tower 3. Princeton International Properties closes $100M deal for Midtown office tower [more]

Rainbow Room officially landmarked, luxury bunkers for the apocalypse … and more

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[caption id="attachment_219199" align="aligncenter" width="575"] A rendering of the Renzo Plano designed downtown Whitney Museum[/caption] Rainbow Room officially receives landmark status. And as the Mayan apocalypse nears, the wealthy -- from Long Island to California -- are coughing up as much as $100,000 for luxury bunkers. The outline of the Whitney Museum’s new downtown building comes together. BCG Partners CEO Howard Lutnick talks Newmark Grubb Knight Frank. Read these stories and more after the jump.

End of federal law puts renters at risk

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When a little-known federal law expires at the end of the 113th Congress, millions of renters across the U.S. could face eviction, the Huffington Post reported. The Protecting Tenants at Foreclosure Act, passed in 2009, gives renters the right to remain in their homes until the end of their lease or for a minimum of 90 days if they are not on a lease, if their building is foreclosed on. Without the federal provision, renters will be [more]

Hotel developer strikes deal with restaurant tenant

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[caption id="attachment_219216" align="alignright" width="300"] A rendering of 219 East 44th Street and Ben & Jack's Steak House[/caption] Normally when a developer buys and decides to demolish a building, its tenants are out of luck once their leases ends. But one restaurant near Grand Central has worked a deal to return to its original location once the new hotel taking over the site is completed in 2015, Crain's reported. Ben & Jack's Steak House, at 219 East 44th Street , will close at the end of the month, only to return once InterContinental Hotels Group's new health conscious hotel brand, EVEN, is opened. The restaurant will even provide guests with room service. [more]

Federal regulators to give mortgage lenders bigger legal shield

Send us your favorite New York City photos!

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Real estate brokers are known for pounding the pavement, scoping out available properties and cataloging the amenities of various neighborhoods. And what better way to share your findings than with a quick snapshot straight from your smartphone? We’re asking you, dear readers, to send us your favorite photographs of New York City. We want the quirky, the picturesque, the hidden, the hilarious. Snap a quick shot and email The Real Deal at news@therealdeal.com. We’ll be [more]

432 Park: New project, old site

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From the December issue: In September, CIM Group and developer Harry Macklowe broke ground on 432 Park Avenue, one of Manhattan’s most-hyped new condo projects. The 1,395-foot-tall residential tower, on Park Avenue between 56th and 57th streets, is slated to be the tallest residential building in the city. But the area where the under-construction tower is located wasn’t always a sought-after residential neighborhood. This month, TRD took a tour of the site’s past lives, from Native American hunting ground

Commercial firm Salmon & Marshall splits

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From the December issue: The commercial real estate firm Salmon & Marshall has split in two, with cofounder Matthew Marshall, 30, launching his own company. The new firm, called Marshall Real Estate, will focus on the asset class where Marshall made his name as well as where he said buyers are increasingly frothing to invest: retail condos. “There are certain types of investors and buyers who look at Manhattan retail,” but not many brokers who [more]

Escalator climbs 1 WTC exterior, tracing those Sandy recovery funds … and more

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An escalator makes its way up to 1 WTC, from where the photo appears to have been shot (credit: Gothamist)
An escalator climbs 1 WTC. Tracing those Sandy recovery funds. Banks ask New York state court judge to dismiss case brought by RMBS investors. Finally, Atlanta’s priciest listing has a beauty salon on the premises. Read these stories and more after the jump.

Syrian Jews find home on Upper East Side

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Once centered in the downtown enclave of Little Syria in Lower Manhattan, then relocated to Gravesend, Brooklyn in the years leading up to World War II, the Syrian Sephardic Jewish community is now finding its way back to Manhattan — specifically the Upper East Side, Tablet Magazine reported. Take, for example, the soon-to-be-developed Moise Safra Community Center. Demolition on three adjoining East 82nd Street townhouses will begin in January to give way to the 12-story, [more]

On the edge of the fiscal cliff, co-op owners scramble to complete trust transfers

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Attorneys and property managers have been inundated with requests to transfer apartments to trusts before the new year, when some co-op owners will face a series of tax changes triggered by the fiscal cliff, the New York Observer reported. If Congress fails to reach an alternative budget deal, beginning on Jan. 1, homeowners will no longer be able to take advantage of the $5.1 million gift tax exemption. They will also face an inheritance tax [more]

Top stories

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The top stories yesterday on The Real Deal: 1. 730 Park penthouse fetches $39M - 2. Goldman’s BLDG continues spree with $40.8 million Canal Street purchase 3. Midtown East planned rezoning will require complex deal-making [more]

DHA picks up Greenwich Village property for $32M, Sandy survivors nominated for landmarks in Queens … and more

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[caption id="attachment_219381" align="aligncenter" width="575"] Richard Holbrooke and Kati Marton;s Beresford apartment[/caption] DHA picks up Greenwich Village property for $32 million. Building's that survived Sandy nominated as landmarks in Queens. Kelsey Grammer slashes ask for his L.A. home to $15.9 million from $18 million. On the opposite coast, Richard Holbrooke and Kati Marton have sold their Beresford apartment for $11 million, after originally listing it for $14.7 million..And Rihanna buys a fresh Pacific Palisades home for $12 million. Read these and more after the jump.

Interest rates rise, causing applications to slump

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The number of mortgage applications decreased 12.3 percent on a seasonally adjusted basis, while increasing 13 percent on an unadjusted basis, during the week ending December 14, the Mortgage Bankers Association announced today. The Refinance Index fell 14 percent from last week, reaching the lowest level since the week ending November 2, 2012, and the seasonally adjusted Purchase Index decreased 5 percent from one week earlier. Unadjusted, however, the Purchase Index fell 4 percent from last week, but is 9 percent higher year-over-year. The share of refinancing activity dropped to 83 percent of total applications. The adjustable-rate mortgage share of activity held at 3 percent of total applications. [more]

Soho side street sales soar

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Building sales on Soho's side streets are soaring, according to the New York Times. Last week the King of Greene, a Isaac F. Duckworth designed building at 72-76 Green Street, sold for $41.5 million -- a 47 percent increase from when it last sold five years ago. In November, two mixed-use buildings across the street at 69 and 71-73 Greene Street, between Spring and Broome streets, traded hands for about $33 million. In May, Savannah paid about $57.5 million for a mixed-use Jean Nouvel-designed building at 40 Mercer Street. And in July, the last vacant corner lot in Soho, at 144 Spring Street on the corner of Wooster Street, sold to Ralph Bartel, the founder of Travelzoo and a major investor in Lanvin and Devi Kroell, for $26.5 million, according to RKF data cited by the Times. [more]

Brooklyn Bridge Park residential development plan sparks safety concerns

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The Bloomberg administration’s plan to find a developer for a new luxury tower in Dumbo’s flood zone is facing criticism from politicians and locals alike, the New York Daily News reported. On Monday, Brooklyn Bridge Park officials unveiled plans for a plans 13-story complex with 130 units, ground-floor retail and up to 110 parking spaces on a vacant lot on John Street near the Manhattan Bridge. But despite plans to include state-of-the-art flood protections, such as a raised [more]

Off the grid

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From the December issue: In New York City, privacy is the ultimate luxury. So it makes sense that the demand for historic homes on New York’s secluded mews streets — often nestled off side streets, behind gates or old growth — would far succeed the supply. “They come at a premium and they sell rather quickly because of the uniqueness — and because they come up so rarely,” Nest Seekers’ Natalie Weiss said about homes on Pomander

New York Public Library unveils plans for $300 million renovation

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Starchitect Norman Foster’s plans for the renovation of the New York Public Library flagship on Fifth Avenue were revealed today, with features including a multi-level atrium, Bryant Park views and a teen center, the New York Times reported. Project construction will kick off this summer and will be completed in 2018. Library officials told the Times that the renovated library — at a total of 100,000 square feet — will be the city’s largest indoor [more]
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