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  • Bushburg, Moinian snag $105M loan for East New York luxury project May 24, 2022
    Bushburg and the Moinian Group have secured a $105 million construction loan for their mixed-use residential project in East New York. The loan, provided by Valley Bank and Cross River Bank, will help the developers finish their 14-story, 320-unit renovation of a landmarked former dairy factory. The project, at 2840 Atlantic Avenue, will also bring […]
  • Ryan Serhant fires back at Bess Freedman, calls legacy brokerages “scared” May 23, 2022
    Ryan Serhant is pushing back on claims made by Brown Harris Stevens CEO Bess Freedman at The Real Deal’s New York City Showcase + Forum last week that reality television shows are harmful to the public’s perception of the real estate industry. Sharing a panel with Douglas Elliman CEO Scott Durkin and Serhant, who has […]
  • WeWork’s first investor in grind on DTLA’s Broadway Trade Center May 23, 2022
    UPDATED, May 23, 2022, 10:00 p.m.: Joel Schreiber struck gold when he met Adam Neumann and became the first investor in WeWork. It’s been more of a grind for Schreiber on his hopes of redeveloping a massive building in the Historic Core of Downtown Los Angeles. Schreiber’s Waterbridge Capital set its sights on the 1.2 […]
  • “Hot girl real estate” reigns at ICSC, Covid be damned May 23, 2022
    Storefront leasing is still recovering but the vibes at the world’s biggest retail conference reveal a Covid-blind optimism is in the air. The Wynn Resort poolside parties Sunday — the unofficial pregame to the ICSC conference in Las Vegas — were awash with brokers, investors, developers and some conference newbies eager to get down to […]
  • Manhattan luxury market slumps back toward normal May 23, 2022
    Following a year of record-setting luxury home sales, homes entering into contract priced at $4 million and above dwindled last week. A total of 23 contracts were signed between May 16 and 22, according to a weekly report by Olshan Realty. That’s the lowest since the first week of January 2022, when 21 contracts were […]
  • Lone bidder Damac to buy Florida collapse site for $120M May 23, 2022
    Damac Properties is poised to buy and redevelop the Surfside collapse site where 98 people died last summer, as no other developers met the deadline to bid on the property. The Dubai-based developer was the stalking-horse bidder, setting a $120 million minimum price last year for the property at 8777 Collins Avenue. Earlier this month, […]
  • Jumbo Dumbo condo claims top Brooklyn contract May 23, 2022
    Eight years ago, Alloy Development filed for permits to build a waterfront condominium at 1 John Street, a joint effort with Monadnock Development. Since then, units from the project have made many appearances atop the weekly report by Compass of luxury Brooklyn homes to go into contract. Last week it happened again as a purchase […]
  • Banks, tech among departures sinking Midtown office market May 23, 2022
    Midtown Manhattan’s struggles in the wake of the pandemic have reached a new low, with banks and big tech companies partly to blame. These companies are eschewing Midtown offices in favor of spots in trendier neighborhoods, the Wall Street Journal reported. The widespread flight to quality over the last year has seen companies drawn to […]
  • Sagaponack waterfront estate sells for almost $48M May 23, 2022
    Adjacent Sagaponack parcels, one with a waterfront mansion, have been snapped up by an undisclosed buyer for almost all of the $48 million being asked. The sale took place in the “pre-marketing” phase of the listing, according to the Wall Street Journal, meaning it hadn’t even made it to market. The parcels are at 35 […]
  • Capital Grille signs with Tishman Speyer, Irvine at MetLife Building May 23, 2022
    Tishman Speyer and Irvine Company are heating things up at 200 Park Avenue with a major restaurant lease. Capital Grille signed a 15,000-square-foot lease at the building, where it will replace Naples 45 along East 45th Street, the New York Post reported. The deal, which includes outdoor space, is reportedly one of the largest for […]