NYC Real Estate News

Mon, 06/22/2020 - 15:45

Don’t call it a comeback. The luxury market in Brooklyn was stuck in neutral last week, as six properties asking $2 million or more went into contract in the borough last week for a combined total value of $17.4 million, according to Compass. The prior week saw seven homes with combined asking prices of $17.5 million go into contract. The week before that, it was seven contracts and $22.5 million. Contract activity in the borough

The post No progress for Brooklyn’s moribund luxury market appeared first on The Real Deal New York.

Mon, 06/22/2020 - 15:27
Rendering courtesy of Extell The coronavirus pandemic–which forced New Yorkers to shelter in place and adhere to social distancing rules–has many apartment dwellers longing for private outdoor space. While a lot of us would be content with a balcony or rooftop access, Extell, the developer behind One Manhattan Square, has taken the idea of residential outdoor space to the next level. At the Lower East Side condo tower, residents have access to 45,000 square feet of green space designed by landscape architecture firm West 8. Considered to be one of the largest private gardens in the city, the East River-facing green space is uniquely […]
Mon, 06/22/2020 - 15:08
are back in business, but there's a catch: Eviction proceedings won't start for two weeks. All new eviction cases filed in city housing court will be postponed regardless of whether a tenant...

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Mon, 06/22/2020 - 15:00

While tenants protested the reopening of Housing Court Monday, incensed landlord attorneys plotted actions against the city and state for not doing enough to allow evictions. Some 100 attorneys from the Brooklyn Housing Court Bar Association convened to discuss the conflicting guidance given ahead of the scheduled reopening of Housing Court. But the tone quickly escalated to frustration. Some attorneys suggested that the court was not on the same page as Gov. Andrew Cuomo, who

The post Landlord lawyers talk protest over eviction confusion appeared first on The Real Deal New York.

Mon, 06/22/2020 - 14:49
Eviction cases are expected to soar in New York City as housing courts reopen and landlords seek to recoup income lost during the pandemic.
Mon, 06/22/2020 - 14:45

In Jacksonville Beach, Florida, 16 employees and patrons of an Irish pub were infected with coronavirus in just one evening. And in suburban Chicago, Walmart was sued by the family of an ex-employee who died after she allegedly contracted coronavirus at work. These incidents are happening as brick-and-mortar shops reopen across the U.S. including Los Angeles County, which greenlighted the return of mammoth malls like The Grove and Del Amo Fashion Center that power the

The post For LA’s malls, lawsuits could be the next crisis appeared first on The Real Deal New York.

Mon, 06/22/2020 - 14:15

As lockdown restrictions begin easing in the U.S., the Malibu beachfront property owned by Soho House, a private members club for the jet-set, has reportedly begun to reopen. That’s good news for the company, which also secured an investment of $100 million from new and existing shareholders, Sky News reported. The British TV news channel said the funding round was led by the company’s largest investor, Ron Burkle, founder of the private equity firm the

The post Soho House bags $100 million in new funding, retains $2B valuation appeared first on The Real Deal New York.

Mon, 06/22/2020 - 14:00
A year ago JPMorgan Chase “We're going right at Bank of America, folks, in Charlotte—their hometown. I can't wait,” Chief Executive Jamie Dimon told employees at the ribbon-cutting ceremony. Then...

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Mon, 06/22/2020 - 14:00

Even for Valentino, the rent on Fifth Avenue is too damn high. The luxury high-fashion boutique is suing its landlord to terminate the lease on its four-story store in a coveted section of the retail corridor, the Wall Street Journal reported. The pandemic has been a disaster for Valentino SpA, but tellingly, its lawsuit argues that Fifth Avenue would not make sense for its business even after the pandemic. Valentino started its lease in August

The post Valentino sues to quit Fifth Ave — maybe forever appeared first on The Real Deal New York.