NYC Real Estate News

Wed, 02/12/2020 - 11:48
are mounting. Black bags piled higher than most pedestrians line sidewalks daily, occasionally overflowing onto streets or sidewalks for passersby to hurdle. Leaking waste permeates the air with...

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Wed, 02/12/2020 - 11:35
Prolific real estate investment firm Savanna is buying the office building 1375 Broadway from Westbrook Partners for $435 million, several sources with direct knowledge of the deal confirmed.  The...

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Wed, 02/12/2020 - 11:32
Photo by Kelly on Wiki Commons A single person earning $123,000 a year is probably not what you’d consider an appropriate candidate for affordable housing, but the new 2020 waitlist at Stuyvesant Town and Peter Cooper Village is set for households earning 165 percent of the area median income. Under those guidelines, $2,985/month one-bedrooms are reserved for individuals earning between $89,550 and $123,255 annually, up to three-person households earning between $89,550 and $158,565. The $3,745/month two-bedrooms are set aside for two-person households earning $112,350 to $140,910 up to five-person households earning $112,350 to $190,245. The last time Stuy Town opened an “affordable” waitlist was in March of 2019. These units were […]
Wed, 02/12/2020 - 11:30

Coldwell Banker says it has abandoned franchising fees for veterans and people who identify as minorities in an attempt to boost diversity among its broker ranks. The New Jersey-based brokerage, which oversees more than 3,000 franchised brokerages globally, will provide financial assistance to those who identify as racial or ethnic minorities, women, military veterans and brokers who identify as LGBT, Inman reported. The new initiative, Coldwell Banker Diversity in Ownership Program, will forgive enrollees the

The post Coldwell Banker is waiving franchise fees for minorities appeared first on The Real Deal New York.

Wed, 02/12/2020 - 11:28
Not that long ago Vice seemed like the future of media. Its gripping documentaries and news programming were carried on HBO and its Viceland cable channel, the Murdoch family invested $70 million for...

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Wed, 02/12/2020 - 11:00

Simon Dushinsky’s Rabsky Group has filed plans for a 78-unit mixed-use project in Williamsburg, the latest from the prolific Brooklyn developer. The complex will span slightly less than 99,000 square feet at 34 Union Avenue, according to plans Dushinsky filed with the Department of Buildings this week. It will stand 12 stories and 114 feet tall, and will include residential, community and commercial space. At least some of the residential units will be low income

The post Rabsky Group planning another Williamsburg mixed-use project appeared first on The Real Deal New York.

Wed, 02/12/2020 - 10:59

Savanna is buying a large office building in the Garment District, The Real Deal has learned. The real estate private equity fund is in contract to buy 1375 Broadway from Westbrook Partners for $435 million, sources told TRD. That price works out to  $864 per square foot for the building. Representatives for Savanna and Westbrook could not be immediately reached for comment. Cushman & Wakefield’s Adam Spies, Doug Harmon, Adam Doneger and Josh King negotiated

The post Savanna buying Garment District office building for $435M appeared first on The Real Deal New York.

Wed, 02/12/2020 - 10:47
A restored midcentury house in South Pasadena, a 1925 home in Asheville and a waterfront condominium in a converted 1832 warehouse in Boston.
Wed, 02/12/2020 - 10:30

Vornado Realty Trust is closing The Pennsy food hall, a favorite among Madison Square Garden revelers, to make way for a massive modernization of properties. The retail space at the base of 2 Penn Plaza is expected to close at the end of March, according to Commercial Observer. Its closure comes as Vornado is working on a $2 billion redevelopment of its portfolio of buildings that surround Penn Station. At 2 Penn Plaza, the landlord

The post Vornado Realty shutting Pennsy food hall amid $2B redevelopment plans appeared first on The Real Deal New York.