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  • Williamsburg penthouse tops Brooklyn’s luxury contracts January 31, 2023
    Brooklyn’s luxury market appears to still be in hibernation. The borough saw 11 deals inked last week, according to Compass’s weekly report on homes asking $2 million or more. Buyers flocked to penthouses and high-rise views after a week ruled by contracts for townhouses, save for one luxury condo. A Williamsburg penthouse asking $4.3 million […]
  • Sapir divorce filing reveals how real estate’s rich live January 31, 2023
    Ever wonder how real estate’s wealthy spend their money? In the case of developer Alex Sapir’s wife, by shelling out $400,000 to attend Burning Man, not to mention monthly outlays of $6,000 on clothing, $5,000 on boating and more than $15,000 for a house manager, according to a financial affidavit obtained by The Real Deal. […]
  • NYC multifamily sales boomed, but party could be over January 31, 2023
    New York City’s multifamily market had a banner 2022, but higher interest rates figure to slow things down this year. The sector accumulated $16 billion in total dollar volume last year — numbers last seen in 2016, according to a report by Ariel Property Advisors. Deals for multifamily properties accounted for almost 42 percent of […]
  • Camber nabs Bronx apartment buildings to top midsize i-sales January 31, 2023
    Manhattan took the week off in New York City’s mid-market, but Rick Gropper’s Camber Property Group didn’t. All four sales of commercial properties between $10 million and $40 million to hit city records last week were in the outer boroughs. Two were in the Bronx, while Brooklyn and Queens each had one. Below is more […]
  • Bowery micro-hotel files for bankruptcy January 30, 2023
    David Paz had dreams of turning a Lower East Side flophouse into a chic, budget-friendly hotel. Now he is just trying to keep the property out of its lenders’ hands. Paz’s company put the former Ace hotel at 225 Bowery into bankruptcy protection last week as the establishment stares down foreclosure and a $10 million […]
  • MetLife Building gets the luck of the Irish January 30, 2023
    Irish eyes are smiling on one of the most famous commercial buildings in Manhattan. The Irish government leased 43,000 square feet at 200 Park Avenue, aka the MetLife Building, the Commercial Observer reported. The government office known as Ireland House will move into the 17th floor while relocating from 345 Park Avenue in 2024. Ireland […]
  • Blackstone ramps up tenant evictions January 30, 2023
    One of the country’s biggest landlords is ramping up evictions after a long period of pandemic-related forbearance. Blackstone filed eviction lawsuits against hundreds of tenants across the nation, the Financial Times reported. Court records focus on Georgia and Florida, but consultants from the company are said to be notifying politicians in California about a possible […]
  • Holiday hangover: Manhattan’s luxe market is stuck January 30, 2023
    Manhattan’s luxury market is still dealing with a holiday hangover. The borough saw 15 signed contracts, to make the fifth week in a row to record less than 20, according to Olshan Realty’s weekly report of homes asking $4 million or more. The most expensive home to enter contract last week was PHA at 10 […]
  • Won’t anyone buy this Upper West Side mansion? January 30, 2023
    The selling saga of an Upper West Side mansion is rolling along with another price cut for the landmarked townhouse. The asking price at 3 Riverside Drive was reduced to $13 million last week. It marked the second cut in listing price for the home since it came back on the market for $16 million […]
  • Big-box retail growth has Bed Bath & Beyond landlords thinking January 30, 2023
    Bed Bath & Beyond isn’t gone yet, but news of its potential bankruptcy has landlords already looking beyond the retailer. The real estate rebound of big-box retailers like Burlington and Barnes & Noble are fueling the hopeful fire among landlords of spaces with the potential to be vacated by the home goods store in the […]