Two brokers can’t seem to agree on how to split commission from an office lease, and Avison Young has no interest in trying to settle the dispute any further. The commercial real estate brokerage filed an interpleader action in Manhattan on Wednesday, asking the New York Supreme Court to weigh in and resolve the matter between brokers Keith Caggiano and Roshan Shah. Caggiano and Shah are at odds over a roughly $900,000 commission from a
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Just two weeks ago, Avi Philipson told All Year Holdings it wanted out of its deal to buy All Year’s sprawling Brooklyn real estate portfolio. Now Philipson and his investor group are back in, but at a reduced price. Philipson’s Paragraph Partners and All Year have settled their dispute and Philipson is set to acquire the 100-plus assets — mostly walk-ups in northern Brooklyn — next year. Philipson’s group will pay $43.5 million in cash
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If the project fails to stay on track, residents and businesses in the five boroughs could suffer electricity shortages, warn industry observers
Rihanna’s Savage X Fenty is rolling out another retail location in the tri-state area. The lingerie brand signed a 3,300-square-foot lease at the Cross County Center open shopping center in Yonkers, the New York Business Journal reported. The 10-year lease covers a space previously occupied by New York & Company. Asking rent for the Westchester County retail space was $225 per square foot. Savage X Fenty was represented in-house for the lease at the 1.2
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Brett Herschenfeld and the firm have teamed up with Caesar’s in a bid for Times Square
UPDATED, Dec. 2, 2022, 3 p.m.: Co-living: an idea whose time has come — at least twice, so far. One year after the pandemic drove Quarters into bankruptcy, the co-living firm’s flagship property in Williamsburg has hit the market. Developer David D. Dweck is looking to sell the 160-bedroom, 62,600-square-foot campus on North 6th Street between Bedford and Driggs Avenues, for $65 million. A multifamily building and a townhouse include four- and five-bedroom apartments, which
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Manhattan and Brooklyn’s residential markets notched small wins last month amid rising interest rates and constrained inventory. Signed contracts rose month-over-month for the third time since August in Manhattan and increased in Brooklyn for the first time in the same period, according to a monthly report by appraisal firm Miller Samuel for Douglas Elliman. Both have been falling falling annually since April as levels struggle to come up against last year’s historically hot “rocketship,” report
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