A resident who lives across the street from the Naftali Group’s proposed Upper East Side development is trying to put a stop to the project, which the developer has been planning for years. Plaintiff Kim Fennebresque alleges in the complaint, filed last week in New York County Supreme Court, that Naftali’s proposed mixed-use project at 1045 Madison Avenue violates zoning laws. The development as planned would be too close to the co-operative next door, with
The post Naftali accused of violating zoning laws at UES development appeared first on The Real Deal New York.
The buyer of a Murray Hill building wants his money back because of the new rent law. An LLC owned by Manoucher “Manny” Malekan has filed a state lawsuit seeking its $668,000 down payment back from the owner of 148-150 East 28th Street, a multifamily, mixed-use building. The complaint cites the June passage of the Housing Stability and Tenant Protection Act of 2019, which limited rent increases on regulated apartments. The four-story, 110-year-old building has
The post Citing new rent law, building buyer wants money back appeared first on The Real Deal New York.
Every day The Real Deal rounds up New York’s biggest real estate happenings, from breaking news and scoops to announcements and deals. We update this page throughout the day, starting at 9 a.m. Please send any tips or deals to [email protected] This page was last updated at 2:40 p.m. A construction worker was killed this morning at a Lower East Side worksite. The worker died when a wall collapsed at 60 Norfolk Street, the site
The post EB-5 sees investment boost, tensions flare between brokers and StreetEasy: Daily digest appeared first on The Real Deal New York.
Thor Equities may not get the chance to rock out with Sammy Hagar after all. Joe Sitt’s firm is facing foreclosure proceedings in its Theater District building at 725 Eighth Avenue, where it had planned to open the first East Coast location of Cabo Wabo Cantina, a restaurant founded by Hagar. Lender Wilmington Trust filed suit to foreclose on the property on Tuesday. The bank claims that Thor took out an $11 million loan on
The post Thor facing foreclosure at Theater District building appeared first on The Real Deal New York.
Two City Council members are thinking ahead about New York’s troubled property tax system. Eleven years ahead, to be exact. Last week, Helen Rosenthal and Ben Kallos introduced a bill mandating evaluation of the system in 2030. The idea is to prevent it from becoming warped over time, as has occurred since the last major change was made four decades ago. The law would create a commission appointed by the mayor and speaker to analyze
Office leasing in Manhattan • Midtown office leasing saw a slow August with 780,000 square feet in deals inked, down 28 percent from the month before and down 30 percent year-over-year. The availability rate rose half a percentage point, to 11.1 percent, thanks to several new availabilities. The average asking rent, meanwhile, climbed to $87.42. The largest deal in Midtown and citywide went to law firm Davis & Gilbert, which took up 85,862 square feet