NYC Real Estate News

Thu, 02/02/2023 - 05:30

Plus:

  • SUNY Downstate and Maimonides partner to expand cancer services in Brooklyn

  • H+H/Kings County launches Brooklyn Neuroscience Center in Flatbush

  • City Council introduces bill to address city's diabetes crisis

Wed, 02/01/2023 - 18:24

A stalled supertall condo project at 125 Greenwich Street, one of the most hotly anticipated skyscrapers until it was mired in financing complications, is ready for its comeback. Bizzi & Partners and Fortress Investment Group secured a $313 million loan from Northwind Group, The Real Deal has learned, allowing it to resume construction at the project after threats of foreclosure and partnership disputes delayed the 88-story tower for years. Northwind’s loan replaces an existing one

The post 125 Greenwich is back in the game: Supertall condo lands financing appeared first on The Real Deal New York.

Wed, 02/01/2023 - 17:32

Vornado Realty Trust’s challenges continue to show up on its balance sheet: The company has written down the value of its real estate portfolio by $600 million. Steve Roth’s real estate investment trust indicated the reduction late Tuesday, Crain’s reported. About 80 percent of the writedown — $480 million — stems from a handful of Midtown properties. The properties accounting for the other $120 million is unclear. The seven buildings involved in the writedown were

The post Vornado writes down portfolio by $600M appeared first on The Real Deal New York.

Wed, 02/01/2023 - 17:05

A judge threw out previously proposed increases last month

Wed, 02/01/2023 - 16:12

The S&P 500 jumped more than 1% after the announcement

Wed, 02/01/2023 - 16:01

The governor’s proposed budget would increase the controversial program’s funding by 66%

Wed, 02/01/2023 - 16:01

The governor’s proposed budget would increase the controversial program’s funding by 66%

Wed, 02/01/2023 - 15:55

Profitability helped Gramercy-based Passthrough close its Series A

Wed, 02/01/2023 - 15:33

When mortgage purchase activity shot up 25 percent in early January, some industry leaders hailed it as a turning point for home sales. Maybe not. For the week ending Jan. 27, applications for mortgages to buy homes dropped a seasonally adjusted 10 percent from week before, the Mortgage Bankers Association reported. Homeowner requests to refinance fell 7 percent, the MBA’s weekly survey found. The drops came even as mortgage rates were flat. The average contract

The post Was the mortgage spike real? Applications level off appeared first on The Real Deal New York.

Wed, 02/01/2023 - 15:29

More than double the amount of space was leased in January, though the availability rate remained the same