NYC Real Estate News

Tue, 02/25/2020 - 14:01
Stocks plunged and bond yields fell to record lows after the U.S. Centers for Disease Control and Prevention warned Americans to prepare for a coronavirus outbreak at home. The 10-year U.S. Treasury...

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Tue, 02/25/2020 - 14:00

A lawsuit filed today alleges the Moinian Group improperly charged market-rate rents at a FiDi tower while receiving tax benefits. At 90 Washington Street, where the Moinian Group holds the ground lease, tenant Chad Vignola alleges that he and as many as 500 others were not provided with rent-regulated leases, despite the landlord getting a tax break known as 421-g. The complaint argues the tenants are entitled to monetary damages, interest, and at least $500,000

The post Moinian sued for charging market-rate rents despite tax break appeared first on The Real Deal New York.

Tue, 02/25/2020 - 13:55
Manhattan was home to the most expensive ZIP codes across the city 10 years ago. Now Brooklyn is on the same track. A report by PropertyClub comparing the city's 10 most expensive ZIP codes in 2010...

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Tue, 02/25/2020 - 13:55
Manhattan was home to the most expensive zip codes across the city ten years ago, but a decade later, Brooklyn is on the same track. A report by PropertyClub comparing the ten most expensive zip...

To view the full story, click the title link.
Tue, 02/25/2020 - 13:30

Troubles in the retail world aren’t going away anytime soon — and retailers have themselves to blame. That’s according to Starwood Property Trust CEO Barry Sternlicht, who spoke at Tuesday’s fourth-quarter earnings call. During the call, Sternlicht recounted a visit to a new clothing store on Lincoln Road in Miami. Sternlicht said he walked around the store and couldn’t find a basic item — shorts — in a medium size. He said retailers then send

The post Sternlicht on retail’s woes: Tenants have done “incredibly shitty job” running stores appeared first on The Real Deal New York.

Tue, 02/25/2020 - 13:30
Photo credit: Michael Weinstein Studio courtesy of The Corcoran Group For a mere $14,500 a month, you can rent the style, space, and service of a bygone era in this princely pad in downtown Manhattan’s iconic Police Building at 240 Centre Street, complete with fancy furnishings, two bedrooms, two baths and 1,400 square feet of space. The landmarked Beaux-Arts cooperative at the confluence of Soho, Nolita, and Little Italy is known for its history, its opulent architectural flourishes, and for the impeccable level of service provided for residents. Loft-like in its pre-war proportions, with high ceilings and a wall of tall windows, this […]
Tue, 02/25/2020 - 12:52

In another setback for the would-be developers of four towers in Manhattan’s Two Bridges neighborhood, a judge has ruled against them in the second of three lawsuits facing the development. The latest decision, on a case brought by a group of residents and local organizations last March, was delivered by the same Supreme Court judge who ruled last summer that the three separate projects must go through the city’s exhaustive land-use review. The de Blasio

The post Judge deals another blow to Two Bridges towers appeared first on The Real Deal New York.

Tue, 02/25/2020 - 12:45
All photos by Michael Appleton/NYC Mayor’s Office A new art exhibition is open at Gracie Mansion, the fourth and final installation of Mayor Bill de Blasio and First Lady Chirlane McCray’s tenure. Catalyst: Art and Social Justice, which will also be the largest ever hosted at the historic home in Yorkville, features more than 75 works created by over 50 artists since the 1960s. With a focus on inclusion, the exhibit explores the connection between art, justice, and the social change movements behind it all. “Catalyst highlights the triumphs and difficulties, internal and external, of people as individuals and members of movements and communities as they wrestle […]