NYC Real Estate News

Thu, 01/16/2020 - 14:20

For years, Fannie Mae employee Shirene Hernandez would assign real estate brokers choice listings on foreclosed homes, and in return, they would pay her cash kickbacks stuffed into envelopes and delivered in parking lots, airports and coffee shops. When the crime was finally exposed, Hernandez’s role amounted to more than $3 million in corrupt commissions to brokers. On Monday, the former Fannie Mae employee was sentenced to more than 6 years in federal prison, after

The post Ex-Fannie Mae employee in LA sentenced in bribery, kickback scheme appeared first on The Real Deal New York.

Thu, 01/16/2020 - 14:18
High Times, the nearly 50 year old bible of weed, is piling onto the legal green rush. But its investment could go up in smoke. The media company, which publishes its monthly magazine out of its...

To view the full story, click the title link.
Thu, 01/16/2020 - 14:15
Gov. Andrew Cuomo's self-reinvention as a populist firebrand doesn't seem to have deterred . The Democrat—who won his 2010 election as a fiscal conservative but more recently declared " i="" am=""...

To view the full story, click the title link.
Thu, 01/16/2020 - 13:52
Listing images courtesy of Halstead Real Estate The charming West Village townhouse that was once home to Hilary Swank is back on the market for $10.995 million (h/t Curbed). Swank and her then-husband Chad Lowe bought the four-story property at 33 Charles Street for $3.9 million in 2002 and sold it four years later for $8.25 million, a significant profit. The current owner is Harry A. Lawton III, the president of Macy’s, who closed on the home in 2017 for $10.5 million, just under the current asking price. Built in 1899 and designated as part of the Greenwich Village Historic District […]
Thu, 01/16/2020 - 13:47

Like Council member Mark Levine, his rival in the race to be Manhattan borough president, Upper East Side City Council member Ben Kallos has been returning checks from the real estate industry, making good on a 2013 pledge to reject such donations. Yet while Kallos toes the progressive line, one real estate professional he does accept money from doesn’t think rejecting real estate money will remain in style forever. “My position on politicians that don’t

The post His lone real estate donor says it’s “a fad,” but Ben Kallos returns industry money appeared first on The Real Deal New York.

Thu, 01/16/2020 - 13:43
As 545 Madison Ave. slid into a financial morass, Global Trading Systems, a major equities market maker on Wall Street, grew tired of the situation.  The firm began to negotiate a deal to relocate...

To view the full story, click the title link.
Thu, 01/16/2020 - 13:30

JTRE’s Jack Terzi’s wrapped up his court battle to buy 23 Wall Street. Terzi has finalized a court settlement that lets him lease the building and pay rent for 99 years, according to the New York Post. He had signed a contract in 2016 to buy 23 Wall Street for $140 million from China Sonangol, a company based in Singapore, but the purchase was never completed. He sued China Sonangol in 2017, alleging that the firm

The post Jack Terzi finalizes 99-year lease option at 23 Wall Street appeared first on The Real Deal New York.

Thu, 01/16/2020 - 13:20

UPDATED, Jan. 17, 2020, 10:53 a.m.: In the mid-2010s, German investor Ekkehart Hassels-Weiler dropped $131 million on four luxury penthouses in downtown Manhattan. The market was strong and the product, which included condos at 56 Leonard, was top tier. But when he sold two of his properties in 2019, he took an almost 16 percent loss, according to the Wall Street Journal — from $53 million down to $44.6 million. In an overstocked luxury market

The post He invested more than $130M into 4 Manhattan condos. Now he’s taking a hit appeared first on The Real Deal New York.

Thu, 01/16/2020 - 13:15
The Rite Aid at 81 1st Avenue. Photo © Adam Friedberg In 2015, photographer Adam Friedberg was passing through Astor Place and took notice of the two single-story buildings on Third Avenue and St. Marks Place–the one that housed Continental Bar and the other a McDonald’s. From there, Friedberg began a project to photograph all the single-story buildings throughout the changing East Village and Lower East Side neighborhoods and the negative space they created. After capturing 97 of the roughly 105 structures, his work is now on view at the Center for Architecture in an exhibit titled “Single-Story Project.” 338-346 Lafayette Street. Photo © Adam […]
Thu, 01/16/2020 - 13:08
The list of candidates for Brooklyn’s borough president race just got shorter. Councilman Rafael Espinal, who represents Brooklyn’s 37th district, which includes portions of Bedford-Stuyvesant,...

To view the full story, click the title link.