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Downtown Brooklyn to get a Hampton Inn
The hotel development slated for 125 Flatbush Avenue Extension in Downtown Brooklyn is going to be a Hampton Inn. The property will rise 13 stories, and contain 116 guest rooms. It is expected to be...
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Naftali Group pays $37M for Chelsea building
[caption id="attachment_222178" align="alignright" width="150"]Miki Naftali[/caption] The Naftali Group has paid $37 million for a six-story rental building in Chelsea, in an end-of-year, off-market...
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998 Fifth co-op trades for $18.5M
A unit at stately limestone co-op 998 Fifth Avenue has sold for $18.5 million, according to records filed today with the city. Unit #1W, which had been on the market for about 10 months, closed for...
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Manhattan sales volume perks up
From the January issue: Winter is usually the slowest time of year for Manhattan real estate sales. This season, however, the continued strength of the luxury market — paired with the pending change in...
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Townhouse on site of Weather Underground explosion sells for $9.3M
The Greenwich Village townhouse at 18 West 11th Street, where members of the radical leftist group the Weather Underground accidentally detonated a bomb in March 1970, has traded hands for $9.25...
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Download TRD’s new iPad app — it’s free
The Real Deal’s iPad app is here. In honor of the occasion, we’re making the just-published January issue available free of charge. “Inside,” there’s a run-down of 2012’s record-breaking deals, a...
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Google Street View cars head to hurricane-ravaged Staten Island, NYC...
Sandy damage in New Dorp, Staten Island (credit: Business Insider) Google sends Street View cars through Sandy-ravaged Staten Island neighborhood; locals angered. Bill and Hillary Clinton rumored to be...
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Thor’s Joseph Sitt forms group, advocating improvements to N.Y.-area airports
[caption id="attachment_222272" align="alignright" width="210"] Joseph Sitt[/caption] Joseph Sitt has a sky-high goal — to improve the state of New York City’s airports. The founder of Thor Equities...
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EDC nears redevelopment decision for Bronx’s Kingsbridge Armory
The debate over whether to transform the Bronx’s Kingsbridge Armory into an ice-skating center or an urban mall finally appears to be wrapping up. According to Crain’s, a spokesperson for the New York...
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Does it pay to give?
From the December issue: Giving to charity may be personally satisfying, but that’s not the only reason why real estate bigwigs do it. In many cases, philanthropy benefits the donor just as much as the...
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The era of cheap financing may be winding down
Who says money's cheap? According to Bloomberg News, the era of record low interest rates, which help nudge the housing market towards recovery and record home-lending profits, could be coming to an...
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U.S. Marshals will seize Peter Madoff’s L.I. estate this month, unless a...
For those looking to buy the Old Westbury, L.I. manse of Peter Madoff — brother of Bernie — the deadline is January 29. The New York Post reported that on that date, U.S. Marshals will take possession...
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Rockpoint finalizes $282M deal for 1440 Broadway
Real estate private equity firm Rockpoint has closed on a deal to purchase an 80 percent stake in 1440 Broadway for $282.4 million, according to public records filed today with the city. The company...
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UWS condo, former Yair Levy project, launches sales under new management
Post-recession, construction on the condominium conversion at 101 West 87th Street stalled and the property’s owner, Yair Levy — the embattled developer now legally banned from selling real estate in...
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UWS has just five months of active listings
The absorption rate on Manhattan’s Upper West Side is a whopping 33.4 percent, meaning that the supply of listings could run dry in just five months. That neighborhood has the highest absorption rate...
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John Street condo files $3M suit against developer, alleging construction...
The board of a Financial District condominium has filed a $3 million suit against developer WSA Equities — the parent company of the Gansevoort Hotel Group — over alleged construction defects. It has...
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Commercial sales up 80 percent in Q4: report
[caption id="attachment_222426" align="alignright" width="210"] 666 Fifth Avenue[/caption] Manhattan commercial property sales were $10.5 billion in the fourth quarter of 2012, up 80 percent from the...
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Literary pair pays $5.7M for Brooklyn brownstone
Brooklyn Heights — home, at different times, to Norman Mailer, Truman Capote and Kingsley Amis — can add two more literary stars to its list of illustrious residents. Documentary filmmaker and writer...
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JPMorgan investment exec unloads UES townhouse for $24.8M
A five-story Upper East Side Beaux-Arts townhouse owned by JPMorgan Chase’s Jeff Urwin has traded hands for $24.75 million, according to public records filed with the city today. Carrie Chiang of the...
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