Related Companies is considering extreme measures to save its Hudson Yards retail anchor tenant. The developer’s executives met with Neiman Marcus recently to discuss investing in or even acquiring the struggling retailer. “Related is panicked that it’ll lose its anchor for the entire project,” one source told the New York Post. “All of the leases at Hudson Yards are subject to a Neiman lease.” The May 12 meeting, instigated by Related’s Stephen Ross, took place […]
Kevin Kurland, a co-founder of the residential brokerage Spire Group, has sold his stake in the 100 percent commission firm. Kurland, who previously ran Kurland Realty before launching Spire in 2011, told The Real Deal that he’d been looking to exit the company. “I ran two brokerages consecutively for about 18 years,” he said. “An opportunity presented itself for me to get a nice payout. I was on board with selling my shares.” Terms of […]
From the May issue: Following the $3.4 billion IPO of Snap, the company behind Snapchat, on March 1, tech companies felt a gush of wind at their backs — real estate tech firms included. “Say what you will about Trump, but in the business world I think Wall Street is reacting well, and that may drive more IPOs,” said Nick Romito, co-founder of the Manhattan-based leasing and management platform VTS, which merged with rival Hightower […]
The New York City Housing Authority is looking to partner with a private real estate investor partner to turn 1,700 public apartments in Brooklyn and the Bronx into Section 8 housing. On Tuesday the agency issued a request for proposals to convert the units under its so-called Permanent Affordability Commitment Together, or PACT, program. It will keep the land under the properties and wants to run the buildings themselves as a public-private partnerships with a […]
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Years after Hurricane Sandy, the private community has not finished recovering. But there are flip-flops for sale again in the surf shop.
The overall accuracy of Zillow’s estimates has gotten better, and it’s now announcing a $1 million award to sharpen the company’s algorithm further.