NYC Real Estate News

Mon, 03/01/2021 - 09:56
Families in every neighborhood of the five boroughs behind on their rent payments should circle Sept. 30 on their calendars. That’s the day the U.S. Department of the Treasury will take back New...

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Mon, 03/01/2021 - 09:39
In addition to the magical roof deck, this Greenpoint condo has a duplex layout with a bonus room, as well as a second outdoor space on the lower level. Located at 198 Monitor Street, it also boasts incredible views of the Manhattan skyline. And it’s asking just $759,000. Enter on the first level through a double foyer with a large hallway closet. The open kitchen has stainless steel appliances, including a dishwasher, a breakfast bar, and cool butcherblock counters. Off the kitchen is the east-facing living/dining room. It opens to a lovely 70-square-foot balcony. Also on this floor is the bedroom and bathroom, which […]
Mon, 03/01/2021 - 09:31

The battle between WeWork and SoftBank is over. The beleaguered co-working giant and its co-founder and former CEO, Adam Neumann, have reached a legal settlement with SoftBank Group, Bloomberg News reported, heading off a trial that was set to begin on March 4. The agreement will firm up the Japanese conglomerate’s control over WeWork, while giving Neumann a financial windfall on his way out. SoftBank COO Marcelo Claure, who also serves as WeWork’s executive chairman,

The post WeWork and SoftBank settle lawsuit appeared first on The Real Deal New York.

Mon, 03/01/2021 - 09:00

Developer, investor and brokerage head Howard Lorber is trying on a new role for size: venture capitalist. His company, Vector Group, is pivoting its real estate business — which includes brokerage Douglas Elliman and new development firm New Valley — into investing in early-stage proptech companies, the firm confirmed to The Real Deal. The announcement comes on the heels of Vector’s real estate businesses reporting a net loss of $75.9 million in 2020, the second

The post Calling all founders: Howard Lorber’s Vector Group launches VC arm appeared first on The Real Deal New York.

Mon, 03/01/2021 - 09:00
A Cape Cod-style home in Los Angeles, a four-bedroom house in Sonoma and a contemporary Craftsman in Santa Barbara.
Mon, 03/01/2021 - 08:30

Earnings redux: Airbnb, CoStar, Redfin 🔥 It could have been worse. That was the takeaway from Airbnb’s first earnings as a public company. Despite the luster of its eye-popping IPO, Airbnb lost $4.6 billion in 2020 and revenue dropped 30 percent year over year to $3.4 billion. The net loss was driven by $2.8 billion in stock compensation related to the IPO, but the pandemic clearly whalloped the travel industry. CEO Brian Chesky used a

The post Airbnb’s first earnings, behind CBRE’s $200M bet on Industrious appeared first on The Real Deal New York.

Mon, 03/01/2021 - 08:15
There are signs that things are beginning to shift in the city. In addition to the hastening of spring, felt in the uptick in temperatures last week, New York is taking baby steps toward a greater...

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Mon, 03/01/2021 - 08:00

Like most retailers, merchants in Midtown Manhattan’s Diamond District have had to grapple with the impact of the pandemic over the past year. But gem deals are still getting done — to the tune of $400 million per day, according to a Bloomberg News estimate from last summer. It’s not just jewels that are trading hands in the neighborhood. In December, the ELO Organization closed on its $110 million acquisition of the Chetrit family’s 15

The post Here’s what tenants are paying at ELO’s Diamond District properties appeared first on The Real Deal New York.

Mon, 03/01/2021 - 08:00
The steel superstructure for JP Morgan Chase's new 1,425-foot supertall headquarters continues to rise on the western half of 270 Park Avenue's full-block parcel as work progresses on the demolition of the company's 52-story former home on the opposite end of the Midtown East lot. Construction workers are busily lifting and welding new steelwork along Madison Avenue between East 47th and 48th Street, where the low-rise podium of the original 707-foot-tall skyscraper formerly known as the Union Carbide Building once stood.
Mon, 03/01/2021 - 08:00
Morgan Lydon was frustrated. The Compass agent had moved from New York to Florida in the spring after realizing that quarantining with a golden retriever in a small apartment wouldn't be practical,...

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