NYC Real Estate News

Tue, 09/22/2020 - 12:27
When brothers Zak and Ray Omar took a meeting with the founder of Atomic Wings in 2014, they had no idea they would be running the company one day. At the time of the meeting, the pair, Dunkin'...

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Tue, 09/22/2020 - 12:07
The U.S. death toll from the coronavirus topped 200,000 Tuesday, a figure unimaginable eight months ago when the scourge first reached the world’s richest nation, which had sparkling laboratories,...

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Tue, 09/22/2020 - 11:56
Photo courtesy of the Landmarks Preservation Commission The NYC Landmarks Preservation Commission voted today to designate Public School 48 in South Jamaica, Queens as an individual landmark. Built in 1936, PS 48 was an early example of a school building serving as a “monumental civic structure” in the community. “Its Art Deco style details, which are quite striking in person, make it unique, and it is one of the first elementary schools New York City to incorporate this architectural style,” said LPC Chair Sarah Carroll, who also noted that it’s the neighborhood’s first historic landmark. PS 48 (also known today as […]
Tue, 09/22/2020 - 11:15

Brooklyn’s Sunset Park, which is currently in the spotlight thanks to the controversial Industry City rezoning, is in desperate need of affordable apartments to alleviate a severe housing shortage, according to a report. The report by the nonprofit Fifth Avenue Committee found that only 1,000 new housing units were constructed in Sunset Park since 2014. Of those, only 80 were designated “affordable” through the city’s voluntary inclusionary housing program, and none were created through the

The post Sunset Park faces severe affordable housing shortage: report appeared first on The Real Deal New York.

Tue, 09/22/2020 - 10:33
Photo by Charissa Fay The restaurant on the 101st floor of 30 Hudson Yards will reopen for indoor dining on October 6. Peak, which first opened to the public in March and then closed later that month because of the coronavirus pandemic, has again started taking reservations for its massive 10,000-square-foot dining room, which sits one floor above Edge, the 1,100-foot-high outdoor sky deck. The restaurant said it will not take any parties larger than 10 guests and will not accept cash payments. Photo by Charissa Fay David Rockwell’s Rockwell Group designed the restaurant, which includes a 110-seat dining room, 45-seat cocktail bar, and private […]
Tue, 09/22/2020 - 10:29

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Tue, 09/22/2020 - 10:15

The city’s $8 billion plan to close Rikers Island and replace it with four borough-based jails suffered a setback this week. State Supreme Court Judge John Kelley ruled in favor of community groups that sued over the city’s plan to build a new jail on the site of the Manhattan Detention Complex in Chinatown, according to Spectrum News. Kelley said the New York City Council and the City Planning Commission failed to follow the correct

The post Chinatown jail that would replace Rikers is halted by judge appeared first on The Real Deal New York.

Tue, 09/22/2020 - 10:05
Photo of Amish Market by Paul Sableman via Flickr cc Amish Market opened in Tribeca in 1999 but after 21 years as a neighborhood staple, they, too, have fallen victim to COVID-19. Tribeca Citizen reported the news that the grocery story-meets-bodega (where Cardi-B was famously a cashier during high school) will likely close its doors by the 26th after a 90-percent drop in business. Amish Market opened in 1999 on Cedar Street, and after that storefront was destroyed during 9/11, they relocated to their current home at 53 Park Place. As Tribeca Citizen recounts, that wasn’t the only storm the […]
Tue, 09/22/2020 - 09:45

The landlords of a 95,000-square-foot office building near Herald Square filed lawsuits against two of their major tenants, alleging that they failed to pay rent for months. United Group and American Equities, the owners of 29 West 35th Street, argue in court documents that flex-office startup Knotel and business software provider Sprinklr owe the landlords $536,000 and $283,000, respectively, for rent and legal fees. Together, Knotel and Sprinklr occupy more than 75 percent of the

The post Manhattan landlords sue Knotel, Sprinklr for missing rent appeared first on The Real Deal New York.

Tue, 09/22/2020 - 09:00

 UPDATED, Sept. 22, 5:20 p.m.: A Upper East Side condo conversion just sold at auction, a possible sign of distress in New York City’s real estate market. Jason Carter of Carter Management Corp. paid $51 million for the 65,000-square-foot, 14-unit project at 305 East 61st Street, according to Commercial Observer. Developer Mitchell Marks’ conversion of the former art facility had a projected sellout of $105 million. SKW provided $30 million in financing on the deal.

The post Upper East Side condo conversion fetches $51M at auction appeared first on The Real Deal New York.