NYC Real Estate News

Tue, 01/31/2023 - 17:45

Like a phoenix, a building is set to rise from the scorched earth where a notorious Passaic fire erupted nearly four decades ago. Stonemont Financial Group is planning a warehouse and logistics center in the New Jersey city, NorthJersey.com reported. The Atlanta-based real estate company purchased the land from Mynt Properties for an undisclosed price in December. Stonemont’s industrial project will span 296,000 square feet, according to NJBIZ, and is being developed in a public-private

The post Warehouse rising from ashes of infamous Passaic fire appeared first on The Real Deal New York.

Tue, 01/31/2023 - 16:58

A large office campus in Bergen County could soon be home to hundreds of apartments. Developer S. Hekemian Group is proposing a 585-unit, market-rate project at 400 Parsons Pond Road in Franklin Lakes, the site of a former IBM and Express Scripts office complex, NorthJersey.com reported. The 89-acre property off of Interstate 287 is owned by Cigna Corp., but Hekemian is in contract to purchase it for an undisclosed price. It’s valued at $84 million,

The post Developer pitches 585 apartments on Bergen County office campus appeared first on The Real Deal New York.

Tue, 01/31/2023 - 15:41

The Chelsea Democrat’s name appears on the long list of creditors filed this week

Tue, 01/31/2023 - 15:15

Five hundred ninety down, 499,410 to go. In December, when Mayor Eric Adams announced a goal of 500,000 new homes citywide over a decade, developers filed to build just 590 apartments. The measly total, compiled by the Real Estate Board of New York, shows just how challenging reaching Adams’ target will be. The year finished on a down note for builders as the number of new apartments planned plunged 90 percent from 4,945 in December

The post A December to forget: Multifamily projects slow to a trickle appeared first on The Real Deal New York.

Tue, 01/31/2023 - 14:57

The long-delayed Gateway project will get moving again thanks to $292 million

Tue, 01/31/2023 - 14:30

UPDATED, Jan. 31, 2023, 4:15 p.m.: A full-floor unit at Zeckendorf Development’s 520 Park Avenue has sold in a rare resale. Unit 23 closed today for $21.5 million to an unknown buyer, according to Casa Blanca managing director Louis Buckworth. The deal for the 23rd-floor unit marks the third resale transaction in the building and the first to go for more than the sponsor sale. The unit sold for just over $20 million in 2018,

The post 520 Park Avenue unit sells for $22M in rare resale appeared first on The Real Deal New York.

Tue, 01/31/2023 - 14:16

Mayor Eric Adams’ call for housing is just the latest blow to the area, fashion manufacturers say

Tue, 01/31/2023 - 14:16

Mayor Eric Adams’ call for housing is just the latest blow to the area, fashion manufacturers say

Tue, 01/31/2023 - 14:15
Red Hook Winery. Photo credit: Sava Studio When asked why a couple should spend Valentine’s Day at City Winery, CEO and founder, Michael Dorf responded, “Wine not?” Puns aside, he believes “there’s this romantic vibe to wooden barrels — something sexy about a winery.” It’s what he attributes to City Winery hosting so many weddings. Plus, he joked, if you get engaged at his winery, you’re guaranteed to stay married. Time might tell whether or not that’s true, but when it comes to planning a date night, urban wineries are like a more romantic version of the ever-popular urban brewery. City Vineyard at […]
Tue, 01/31/2023 - 14:07

Investors appear excited about algorithms writing content