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REAL ESTATE
Inside the late Ivana Trump's opulent Versailles-inspired Upper East Side townhouse on the market for $19.5 million
Donald Trump's ex-wife Ivana Trump was known for her glamorous life and so it is no surprise that her Upper East Side townhouse, on the market for $19.5 million, is just as opulent and grand. See inside the home here...
What are North Jersey's priciest ZIP codes? Here are the top five
For $22.5 million, you could buy Nascar legend Tony Stewart's 415-acre Hidden Hollow Ranch in Indiana, completed with a 8,700-gallon, two-story freshwater aquarium; a 1,500-gallon stream filled with a koi fish; a waterfall; and two separate buildings on the property for a guest house and a workshop. Or, for the...
“Not even distressed” rent-stabilized property sells for peanuts
Yet another rent-stabilized apartment building sold for such a bargain that it raises the question: How low can prices go?. Held since the 1950s by a family firm, 610 West 204th Street in Manhattan traded to an Albanian couple for $3.8 million — just $79,000 per unit, according to Marco Lala, the broker on the deal.
Joe Sitt loses two Manhattan buildings to foreclosure
Joe Sitt’s Thor Equities lost two of its Manhattan retail properties to foreclosure this week, Crain’s reported. One, in the Meatpacking District, was grabbed by Maverick Real Estate Partners. The other, in Soho, went to Kansas-based Midland Loan Services. Manhattan-based Maverick filed a complaint against Thor in January...
Westchester home designed with striking 1980s flair lists for $4.7M
A modernist beachfront home designed by the late architect Myron Goldfinger is on the market for $4.7 million. It’s the first time the home has been for sale since it was built in 1982. The five-bedroom, six-bath spread, which has been featured in shelter magazines over the years, is at 30 Beachfront Lane in New Rochelle, NY. It’s part of a tony, gated community of just 12 homes, 35 minutes by car from the city. This Miami mansion found a buyer in a day — for $34M in cash At 5,903 square feet, the house sits on 0.38 acres, and comes with a pool...
Park Slope Tenants Secure Agreement with City, Landlord to Keep Units Affordable
Stellar Management, the Fifth Avenue Committee and the New York City Department of Housing Preservation and Development (HPD) signed an agreement that makes all the units at 341 10th Street in Park Slope affordable housing. The entities closed on an Article XI regulatory agreement for the building last week, ensuring...
Atlas Capital Lands Nearly $1B Loan for Riverfront Apartment Project
Atlas Capital Group secured a $985-million construction loan to build two Lower Manhattan apartment towers at 80 Clarkson St. which it’s developing with Zeckendorf Development and Baupost Group, the New York Post reported. The lenders, sources told the Post, were London-based Cale Street Partners and San Francisco-based Farallon Capital Management. The loan was arranged by Newmark.
NYC currently offering affordable housing units near the water
The Housing Connect website in New York City offers affordable housing opportunities, including apartments near the water, with rents significantly lower than the city's average, and amenities including pools, gyms, and concierge services.
Permits Filed for 126 Manhattan Avenue in Williamsburg, Brooklyn
Permits have been filed for a five-story residential building at 126 Manhattan Avenue in Williamsburg, Brooklyn. Located between Montrose Avenue and Johnson Avenue, the lot is near the Lorimer Street subway station, serviced by the J, M, and Z trains. Alon Ashourzadeh is listed as the owner behind the applications.
Send in your comments on “City of Yes for Housing Opportunity”
FRIENDS testified at the July 10 City Planning Commission Public Hearing on City of Yes for Housing Opportunity, the New York City Department of City Planning's suite of zoning text amendments meant to encourage and incentivize housing creation and address the affordability crisis in the city. Friends was among some 200 New Yorkers--advocates and concerned individuals--who came together to make their voices heard at the marathon hearing that lasted just under 15 hours.
Urban Square Obtains Construction Debt for Jersey City Multifamily
JLL Capital Markets secured $13.1 million in construction financing for the development of Vroom Street Apartments, a 42-unit mid-rise luxury apartment building to be located at 72-76 Vroom St. in the Journal Square submarket of Jersey City. A JLL team led by director Max Custer and associate Salvatore Buzzerio represented the borrower, Urban Square Properties, to secure the two-year loan through First Bank.
NYC Pension Adopts ‘First in Nation’ Guidelines for Private Real Estate Investments
New York City Comptroller Brad Lander on Wednesday outlined new standards for private real estate investments within the portfolio of the New York City Employees’ Retirement System, which has adopted the standards into its investment policy. The standards have been proposed for the city’s other four pension systems.
Top 5 Stories on Brownstoner This Week: A Partition Sale May Oust a Bed Stuy Family
Ayisha Doyle, like her mother and her children, was raised in the grand brownstone on Jefferson Avenue in Bed Stuy. She still calls the house home, one of five generations of her family who have done so since her great-grandparents purchased the 1880s single-family house in the 1940s. — Brooklyn developer...
IPA Arranges $50M Refi on Newly Renovated SoHo Mixed-Use
IPA Capital Markets, a division of Marcus & Millichap specializing in capital markets services for major private and institutional clients, closed the $50-million refinancing of a newly renovated, Class A mixed-use office and retail property located at 580 Broadway in Manhattan’s SoHo neighborhood. Matthew Polci, Steven Buchwald and Rachael Krawiecki secured the financing for the property.
The state of the New York City real estate market
Tenants who signed leases in Manhattan last month paid the same median rent as they did a year ago, making it the most expensive June on record. The leases for apartments this year were for units that were about 15% smaller in size. This is among the findings of real estate firm Douglas Elliman’s second quarter data on sales and rentals.
SAGE Investment Real Estate Advisors sells property in Elizabeth for $4.2M; names Herskowitz principal
SAGE Investment Real Estate Advisors continued its strong start in North Jersey as it announced its third recent multifamily trade, with the $4.2 million sale of 105 Grove St., in the Elmora section of Elizabeth. Steve Tragash, firm co-founder and partner, exclusively represented the private individual seller and procured the...
SL Green Reaches Sellout at Giorgio Armani Residences
SL Green Realty Corp. announced the sellout of the exclusive Giorgio Armani Residences on Manhattan’s Upper East Side. All 10 residential units within the luxury condominium project are now under contract for gross consideration totaling $168.2 million. The sales are expected to close in the fourth quarter of 2024.
The Lirio Breaks Ground At 364 West 54th Street In Hell’s Kitchen, Manhattan
The Hudson Companies and Housing Works recently celebrated groundbreaking for The Lirio, a mixed-use development located at 364 West 54th Street in Hell’s Kitchen, Manhattan. The project will transform a vacant parking lot into 112 permanently affordable homes, office space for the MTA, and neighborhood retail space. It was designed by CetraRuddy and is being built in partnership with the New York City Department of Housing Preservation & Development, the Metropolitan Transportation Authority, and other partners.The Lirio will provide 67 units of supportive housing for formerly homeless individuals, including 59 units targeted for long-term survivors of HIV/AIDS, 44 affordable homes for families earning between 30 and 120 percent of area median income, and one superintendent unit. Beyond that, the property will be home to approximately 30,000 square feet of office space for the MTA and retail space along Ninth Avenue.
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