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Y&R buys 3 Columbus space for $143M
Advertising giant Young & Rubicam has closed on its purchase of an interest in a commercial condominium at 3 Columbus Circle for $143.63 million, according to public records filed with the city...
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Planned pro soccer arena presents flood risk
When Robert Moses drove the Flushing River underground to create a pond in Flushing Meadows Corona Park for the 1939 World Fair, little did he know it might throw a wrench in plans for another large...
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Jessica Chastain buys Greenwich Village co-op
Following a meteoric rise to fame over the past year, Golden Globe award-winning actress Jessica Chastain has purchased a New York City home. Best known for her role as Celia Foote in “The Help,”...
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Mortgage rates drop to 41-year low
U.S. mortgage rates hit record lows today, following the Federal Reserve’s announcement earlier this month that it would be buying up mortgage-backed securities, Bloomberg News reported. The average...
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How Brooklyn’s stadium deal was done
Brooklyn’s Barclays Center in Brooklyn will open tomorrow with a week of concerts by Jay-Z and the debut of the 675,000-square-foot, 22-acre project owes itself to Bruce Ratner’s purchase of the then...
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Trump buys mansion adjacent to family winery
Donald Trump yesterday purchased the mansion on the Kluge estate in Charlottesville, Va., the Washington Post reported. The real estate magnate had already owned the vineyard, Trump Winery, and other...
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Dunn to pay $4 for Brooklyn development site
The city has selected Dunn Development Corp. to develop four city-owned vacant lots in East New York, Brooklyn, into 270 units of low-income rental apartments. The measure is part of the planned...
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BFC Partners inks $230M deal to build S.I. complex
Staten Island has taken the lead in the race for New York City’s first outlet shopping mall. After weeks of talks with the Bloomberg administration, BFC partners announced it officially signed a deal...
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Fulton’s new face-lift
From the September issue: One of the great charms of glass-and-steel Modernism is that for months, even years, you can pass a construction site and see nothing more than a hole in the ground — and...
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QE3 probably won’t do much: Flexner
Thomas FlexnerQE3, the Fed's third round of quantitative easing, won't do much to lift the real estate market, according to Thomas Flexner, the global head of real estate at Citigroup, who appeared...
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Investors that bought at market’s nadir to reap mega profits from sale of...
As the commercial real estate market improves, there are hefty profits to be made from selling properties purchased when the market was at its nadir, the Wall Street Journal reported. Now, the values...
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Donerail can keep $38.6M deposit in failed deal for 405 Park Avenue
A New York State Supreme Court panel has upheld a summary judgment against developers Laurence Gluck, Steve Witkoff and Westbrook Partners for failing to close on an office building at 405 Park Avenue...
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Derek Jeter’s Trump World Tower penthouse trades for $15.5M
Baseball shortstop Derek Jeter has sold his 88th floor penthouse apartment inside the Trump World Tower at 845 United Nations Plaza for $15.5 million, according to city records filed today. The deed...
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New listings spell change for 88 CPW
Five of the 32 apartments located inside the Brentmore at 88 Central Park West, near 69th Street, are now on the market or will soon hit the block — marking a change inside the 102-year-old building...
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Nest Seekers enigmatic CEO
From the October issue: Eddie Shapiro prefers to remain an enigma. On a recent summer afternoon, the founder of residential brokerage Nest Seekers International is clad in his own version of business...
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Oheka Castle Hotel & Estate could face foreclosure, Smorgasburg comes to...
Oheka Castle Hotel & EstateOheka Castle Hotel & Estate, a posh Long Island inn and wedding venue — Kevin Jonas was married there; so, too, was Anthony Weiner — could face foreclosure. Not only...
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$27M redevelopment proposed for Hudson Square
Hudson Square Connection, a business improvement district, today proposed a $27 million redevelopment of the property at the mouth the Holland Tunnel downtown, Crain’s reported. The proposal seeks to...
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Parc Vendome legal bills top $1M over water leak
Attorneys’ fees to defend the Parc Vendome against a lawsuit connected to a five-year-old water leak have topped $1 million and the board at the massive pre-war condo is now paying out of pocket to...
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Realogy prices IPO at $27 a share
After months of anticipation, Realogy — the largest residential brokerage franchisor in the world and the parent company to Corcoran Group and Citi Habitats — has priced its initial public offering...
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In tight rental market, incentives plummet
The market for residential rentals in Manhattan is robust, the inaugural monthly rental report from Prudential Douglas Elliman reveals. The average number of days a Manhattan apartment spends on the...
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