NYC Real Estate News

Tue, 09/22/2020 - 17:50

A Soho penthouse that once listed for $65 million has sold for nearly half that. The amount still set a record for the neighborhood despite the price chop. The 8,000-square-foot penthouse at 421 Broome Street closed for $35 million, the Wall Street Journal reported. The unit first hit the market in 2018, and was last listed for $43.75 million with Tal and Oren Alexander of Douglas Elliman. The penthouse is now the most expensive home

The post Soho penthouse buy sets record despite price chop appeared first on The Real Deal New York.

Tue, 09/22/2020 - 17:30
Mike Davis spent the last decade running the USGA, where he set up golf courses to provide an extreme test for elite players and searched for solutions to increasing distance. Now he wants to build...

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Tue, 09/22/2020 - 17:10
Brookfield Property Partners LP, a large owner of malls in the U.S., is cutting its workforce as the pandemic batters the retail industry.

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Tue, 09/22/2020 - 16:30

Oxford Property Group is continuing its acquisition run, most recently picking up residential brokerage Spire Group, which specializes in both sales and rentals. The acquisition of Spire, the 115-agent firm led by co-founder Bianka Yankov until her death in April, closed in August. Combined, the two firms have 790 agents, according to Oxford CEO Adam Mahfouda. That’s a hefty jump from the 523 agents the firm had in March, according to The Real Deal’s annual

The post Oxford Property Group acquires Spire, expands to nearly 800 agents appeared first on The Real Deal New York.

Tue, 09/22/2020 - 16:14

Brookfield Properties, one of the largest mall owners in the country, plans to lay off 20 percent of its retail staff, according to a report by CNBC. Brookfield Properties plans to cut jobs at its retail division because of a decline in business and in new leasing activity. The company said it will make cuts “to align with the future scale of our portfolio,” according to Jared Chupaila, CEO of Brookfield Properties’ retail group in

The post Brookfield Properties to lay off 20% of retail division appeared first on The Real Deal New York.

Tue, 09/22/2020 - 15:57

Nearly a dozen elected officials Tuesday urged the City Council to reject the proposed Industry City rezoning — and the land-use process itself. In a letter, Reps. Hakeem Jeffries, Nydia Velázquez, Jerry Nadler and Yvette Clarke — who all represent Brooklyn — state that rezoning the 35-acre campus would “supercharge the displacement and gentrification that is undermining Sunset Park’s affordability and blue- collar job base.” State Sens. Julia Salazar and Zellnor Myrie, as well as

The post Members of Congress slam Industry City rezoning appeared first on The Real Deal New York.

Tue, 09/22/2020 - 15:52
Here on the East Coast, we watch the wildfire devastation in the West from a distance, with horror and maybe more than a little bit of a guilty sense of relief. Our region—green and lush at the end...

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Tue, 09/22/2020 - 15:32
A quarter of New Yorkers would stop going to restaurants altogether if the newly enacted Covid-19 surcharge is imposed, a survey from Finance Buzz found. Only 16% of patrons who responded to the...

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Tue, 09/22/2020 - 14:30

This is no joke. That’s the message New York City comedy club owners wanted to convey at Tuesday’s rally to reopen venues across the five boroughs that have remained shuttered during the pandemic. While restaurants have gotten the greenlight to begin in-person dining on Sept. 30, at 25 percent capacity, the city’s comedy clubs are still silent, exacerbating a financial crisis for performers and operators. The group’s ire was mostly aimed at Gov. Andrew Cuomo.

The post Laughing matters: Comedy club owners call for reopening appeared first on The Real Deal New York.

Tue, 09/22/2020 - 14:15

Hospitality startup Sonder is blaming an airborne pathogen for skipping rent payments at 20 Broad Street — but Covid isn’t the culprit. In new court filings, Sonder accused landlord Metro Loft Management of trying to hide, and ultimately failing to contain, an outbreak of legionella bacteria at the Financial District building. The Nathan Berman-led firm sued Sonder in July for $103 million, including more than $3 million in unpaid rent and $100 million to cover

The post Sonder accuses Metro Loft of hiding legionella at 20 Broad appeared first on The Real Deal New York.