NYC Real Estate News

Tue, 10/26/2021 - 12:45

Shoppers hitting Manhattan for luxury goods should set their eyes downtown. A slew of upscale brands have recently opened outposts away from the traditional Fifth Avenue and Madison Avenue hubs, the New York Post reports, instead turning towards Soho and the Meatpacking District. The companies are taking advantage of lesser retail rents and the opportunity to pivot from e-commerce to physical retail as New York emerges from quarantine. Among the companies to open stores in

The post Tony retailers flocking back downtown appeared first on The Real Deal New York.

Tue, 10/26/2021 - 12:30
In recent years, New York has made moves to level the playing field for renters in one of the world’s most expensive cities. Changes to the rent laws in 2019 capped rent increases and expanded tenant protections, while in New York City, the de Blasio administration has made progress on its...
Tue, 10/26/2021 - 12:15
All photos by David Mitchell The world’s first hotel on wheels is set to debut in the Hudson Valley this winter. The New York-based startup company Moliving Inc. revealed earlier this year its first model unit, which measures roughly 400 square feet and includes two outdoor decks. The company believes the movable luxury hotel rooms, which are designed to be easily installed and relocated, offer hoteliers the opportunity to build hotels faster, more sustainably, and to adjust room inventory according to seasonal demand. ​”The traditional hotel development model has proven its success for generations. Now, lifestyle habits and travel behaviors have […]
Tue, 10/26/2021 - 11:40
Anthony and JJ Curis are turning a church, its rectory and a city block into a cultural center and a legacy park for the artist Charles McGee.
Tue, 10/26/2021 - 11:25

UPDATED Oct. 26, 2021, 2:12 p.m.: Just when you think things cannot get any crazier at Brooklyn’s swankiest hotel, they do. Brooklyn developer Zelig Weiss has made an all-cash offer to buy the William Vale hotel as he battles a lawsuit alleging he diverted money from it. Weiss submitted proposals Oct. 22 to buy equity interests in the hotel along with the debt held by Israeli bondholders for $156 million. On Oct. 25, Weiss upped

The post In fight over William Vale hotel, Zelig Weiss offers to buy it appeared first on The Real Deal New York.

Tue, 10/26/2021 - 10:54

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Tue, 10/26/2021 - 10:43
Recent commercial real estate transactions in New York.
Tue, 10/26/2021 - 10:30

Homebuilding giant Lennar and Texas construction startup Icon are teaming up to build 100 3D-printed homes in a massive vote of confidence for the technology amid a nationwide home shortage. Icon’s proprietary Vulcan technology allows the company to create homes up to 3,000 square feet it says outlasts traditional building methods and materials. The Wall Street Journal first reported the project, noting that while Icon is printing the wall system, Lennar can construct the home’s

The post Lennar, Icon teaming up on 3D-printed development appeared first on The Real Deal New York.

Tue, 10/26/2021 - 10:30
In an effort to tackle fair lending abuses, New York is close to expanding the state community reinvestment act to cover more lenders (Housing Wire) A major renovation of Harlem River Houses, the historic public housing complex in West Harlem, is approved by the Landmarks Preservation...
Tue, 10/26/2021 - 09:30

Records continue to fall in the industrial real estate market, powered by an e-commerce boom accelerated by the pandemic. On Long Island, the industrial real estate vacancy rate hit 2.6 percent in the third quarter, according to data from Cushman & Wakefield. Long Island Business News reports the figure is a record low in the area’s recent history. Prior to the pandemic, Long Island’s industrial vacancy rate was 4.5 percent. It has since dropped by

The post Long Island industrial vacancy rate 40% lower than pre-pandemic appeared first on The Real Deal New York.