NYC Real Estate News

Fri, 06/04/2021 - 09:45

Hotelier André Balazs unloaded his Soho apartment this week, 14 years after first listing the pad. The Mercer Hotel owner first listed the 4,200-square-foot unit at 158 Mercer Street, the New Museum Building, for $10 million back in 2007, with no luck. He tried again in 2017, and then in 2020, bumping the asking price to $12 million. Third time’s the charm: Balazs sold the 10th floor unit for $10.35 million, well above the $5.75

The post Developer picks up André Balazs’ Soho condo appeared first on The Real Deal New York.

Fri, 06/04/2021 - 09:30
All photos courtesy of The Corcoran Group This penthouse in Nolita offers the best of both worlds, with a massive outdoor space that feels secluded while still being in the heart of lower Manhattan. Located at 136 Baxter Street, a prewar building that once served as a police stable, the duplex unit boasts an incredibly tranquil wraparound terrace, packed with shrubs and flowering trees. The three-bedroom, three-bath is now on the market for $7,495,000. The apartment takes up over 2,700 square feet across the sixth and seventh floors of the building, with an impressive 1,600 square feet of outdoor space. The seventh floor contains a modern living and dining […]
Fri, 06/04/2021 - 09:30
When the pandemic hit, Pedro, who was living with his parents on Long Island, realized he had an opportunity to land an apartment in New York City—a dream since he first visited the city at the age of five. He undertook an extensive apartment search and landed in Williamsburg—and in an apartment...
Fri, 06/04/2021 - 09:00

Last week, “rumblings” from Katerra workers on a project site in Jersey City reached developer Paul Silverman. He then learned the ominous chatter was true: Katerra was shutting down. Many developers are now in a similar position as Silverman, figuring out how to move forward on projects that suddenly no longer have a construction manager. Silverman, whose eponymous firm hired Fields Construction, one of many companies acquired by Katerra over the last few years, said

The post What Katerra’s shutdown means for clients, subsidiaries appeared first on The Real Deal New York.

Fri, 06/04/2021 - 09:00
A three-bedroom apartment sold for $33 million, which was New York City’s biggest closing during the month of May.
Fri, 06/04/2021 - 08:30

Private equity’s push into single-family housing this year strained a market already strapped for supply as mom-and-pop bidders found themselves up against institutions intent on buying to flip or rent. Investment firm Fundrise found opportunity in that bottleneck. Last week, the startup secured a $300 million credit facility from Goldman Sachs to finance almost half-a-billion dollars in new home construction to bulk up supply in the Sun Belt. But the firm’s new developments will be

The post Fundrise scores Goldman backing to expand single-family rental market appeared first on The Real Deal New York.

Fri, 06/04/2021 - 08:00

A fridge that knows you’re low on oat milk before you do may sound like the stuff of science fiction. For Colony Capital, it’s only the beginning of a hard pivot from traditional real estate to a focus on digital infrastructure. On this episode of the REInterview, TRD’s Hiten Samtani spoke with Colony CEO Marc Ganzi about the “tectonic shift” towards digitalization in commercial real estate. Geology metaphors aside, Colony’s own digitalization journey has been

The post WATCH: Marc Ganzi on Colony Capital’s digital transformation appeared first on The Real Deal New York.

Fri, 06/04/2021 - 08:00
Demolition preparations have begun at 266 West 96th Street, the site of a 23-story residential building on Manhattan's Upper West Side. Developed by Fetner Properties, the structure is planned to yield 171 apartments, with 91 regular-sized homes and 80 micro units marketed to seniors ranging from 290 to 340 square feet each. Sixty-eight apartments would be allocated toward permanent affordable housing, while all residents would be provided free amenity access that includes a health club. The site is located between Broadway and West End Avenue.
Fri, 06/04/2021 - 07:30
This week, development partners Kushner Real Estate Group and National Real Estate Advisors celebrated the opening of the second rental skyscraper at Journal Squared. Located at 537 Summit Avenue in Jersey City, the new 68-story tower stands 754 feet tall and comprises 704 residences.
Fri, 06/04/2021 - 07:00
Avery Hall Investments has unveiled plans for a mixed-use project addressed as 272 4th Avenue on the border of Gowanus and Park Slope in Brooklyn. The Brooklyn-based developer is also responsible for the design of the 130,000-square-foot development at the corner of 4th Avenue and Carroll Street, and recently increased the site assemblage with a $5.3 million purchase of 274 4th Avenue and 538 Carroll Street.