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  • Self-storage startup Clutter makes its first real estate play with $152M deal September 20, 2019
    On-demand self-storage start-up Clutter has broken into real estate, picking up a four-warehouse portfolio in New York for $152 million, the firm said. The properties are in Brooklyn, Long Island City, White Plains and Yonkers, and the portfolio totals about 500,000 square feet, according to Clutter. They were formerly Storage Fox properties, and Clutter plans […]
  • Can Paul Massey repeat his past brokerage success with B6? September 20, 2019
    “Rain Man” and “Beaches” were playing on the big screen and the Berlin Wall was still standing. The year was 1988 — the same year that Paul Massey and Bob Knakal launched their eponymous New York City investment sales firm. And now, more than 30 years later, Massey’s career has come full circle. After the […]
  • Owners of some residential properties can’t hide behind LLCs anymore September 20, 2019
    The owners of certain residential properties in New York can no longer shield their identities from the state using anonymous LLCs. Legislation signed by Gov. Andrew Cuomo last Friday and effective immediately requires LLCs involved in real estate transactions in the state to disclose the identities of all owners, managers and agents associated with the […]
  • Three developers slapped on wrist for de Blasio donations September 19, 2019
    Three developers made improper donations to the mayor while pursuing business with the city, according to a settlement reached today as part of an ongoing investigation. Greenpoint Landing Developers, Brookfield Financial Properties and Toll Brothers donated a total $125,000 to Campaign for One New York, a fundraising organization set up by Mayor Bill de Blasio […]
  • Rent reform in New York, California propels new wave of multifamily investors to Miami September 19, 2019
    First, it was tax reform that pushed CEOs, hedge fund managers and other high-net-worth individuals to South Florida. They were lured in by the favorable climate, luxury residential properties and most of all, substantial tax savings. Now, it is the multifamily investors who are heading to South Florida, and for a different reason: rent control, […]
  • Banks to revise Adam Neumann’s $500M credit line, another foreign investor is leaving NYC: Daily digest September 19, 2019
    Every day, The Real Deal rounds up New York’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page in real time, starting at 9 a.m. Please send any tips or deals to tips@therealdeal.com This page was last updated at 4:05 p.m. Banks seek to revise Adam Neumann’s $500 […]
  • Miami’s biggest condo developer is going micro September 19, 2019
    UPDATED, Sept. 20, 7:20 a.m.: The Magic City’s biggest condo builder is going small on its next project. The Related Group is planning to build micro condos on a downtown Miami site it recently closed on, The Real Deal has learned. The Miami-based developer is planning to build a roughly 400-foot tower with about 350 […]
  • New York City investment sales in July 2019 September 19, 2019
    INVESTMENT SALES IN MANHATTAN AND BROOKLYN Manhattan investment sales slowed in July with $2.06 billion in deals recorded, a 41 percent drop from June and 17 percent below the 12-month average. The largest deal went to California-based DivcoWest Real Estate Investments, which paid Boston Properties $310 million for 540 Madison Avenue, Divco’s second NYC office […]
  • The Daily Dirt: Crowdfunding firm’s CEO steps down amid legal woes September 19, 2019
    Facing investor criticism and a string of lawsuits, a real estate crowdfunding firm is now shaking its CEO.  Rodrigo Niño, founder of Prodigy Network, is stepping down from the company he founded in 2003, to help “rebuild the trust of our investors,” Sylvia Varnham O’Regan and Mary Diduch report.  “I believe that the challenges the company […]
  • Calling all subscribers: Listen in as TRD reporters size up NYC’s foreign investment landscape September 19, 2019
    Join The Real Deal on Tuesday, September 24 at 2 p.m. for our next subscribers-only conference call. TRD’s senior content director Jill Noonan will talk to reporters Sylvia Varnham O’Regan and Kevin Sun about their recent coverage of foreign investment in New York amid this latest wave of global turmoil. In TRD’s September magazine, Varnham O’Regan […]