NYC Real Estate News

Lachlan Murdoch, the son of billionaire media mogul Rupert Murdoch, has purchased a small home on Sydney Harbor for around $29.8 million. The Piper Point property’s value is largely because it has 131 feet of frontage on unusually deep water, according to the Los Angeles Times. That means it can accommodate large yachts. The property has two docks and four moorings for that purpose, making it one of the area’s largest privately owned marina facilities

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Construction is wrapping up on The Central at 5th, a 367-foot-tall Hilton Grand Vacation Hotel at 12 East 48th Street in Midtown East. Designed by Handel Architects and developed by Hidrock Realty, the 31-story structure will yield 161 rooms across 125,000 square feet. DeSimone Consulting Engineers is the structural engineer, The Rinaldi Group is the general contractor, and IBA Consulting & Engineering, PLLC is the envelope consultant for the building, which is located between Madison Avenue to the east and Fifth Avenue to the west.

Quinlan Development Group recently celebrated the commencement of construction at 230 Classon Avenue in Clinton Hill, Brooklyn. The forthcoming multifamily building will stand 17 stories and comprise 143,000 square feet.

The affordable housing lottery has launched for One Boerum Place, a 21-story mixed-use building in Downtown Brooklyn. The development is designed by SLCE Architects and is being developed by Avery Hall Investments, Allegra Holdings, and Aria Development Group. Available on NYC Housing Connect are 42 units for residents at 130 percent of the area median income (AMI), ranging in eligible income from $68,572 to $167,570.

Renovation permits have been filed for a three-story residential building at 138 West 131st Street in Harlem, Manhattan. Located between Lenox Avenue and Adam Clayton Powell Jr. Boulevard, the interior lot is four blocks south of the 135th Street subway station, serviced by the 2 and 3 trains. Anna Bokov is listed as the owner behind the applications.

Settled in the 1600s, the Litchfield County town is more densely populated than its neighbors, with a quaint downtown and more full-time residents.

Major real estate stocks took a beating this week on concern that rising costs for everything from raw materials to the price of a hotel room could lead to higher interest rates, cutting consumer demand. A Standard & Poor’s index of homebuilder stocks dropped 4.4 percent for the week, while Lennar, the biggest U.S. homebuilder, dropped almost 8 percent. Soaring demand for homes during the pandemic had builders working at a furious pace, with housing

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Little West 12th Street is down another tenant. Embattled developer HFZ Capital Group has moved out of its gallery space in West Chelsea. Though the signage touting the developer’s luxury condominium, the XI, still hangs off the storefront, the interior has been emptied of all its furnishings and artwork, The Real Deal observed on a recent visit. The gallery space had been elaborately renovated by HFZ to hold three art installations with its raison d’être

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Two rezonings, held up by the same judge for similar reasons, can now both move forward. But in one case, a developer will need to figure out the logistics of holding an outdoor hearing. Brooklyn Judge Katherine Levine on Thursday lifted her temporary restraining order blocking the rezoning of a former spice factory at 960 Franklin Avenue, where Ian Bruce Eichner’s Continuum Company wants to build two 30-plus story rental towers. The move allows the

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After more than two years and a few price chops, Steven Mnuchin’s luxury co-op has finally found a buyer, the New York Post reported. The treasury secretary had relisted his 740 Park Avenue pad in August and cut the asking price by 20 percent to $25.75 million. He had originally listed the home for about $33 million in 2018. The 6,500-square-foot apartment had been in his family for decades. He bought it from his aunt,

The post Steven Mnuchin’s $26M home finally finds a buyer appeared first on The Real Deal New York.