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  • Marcus Lemonis profits from $3.25M Chicago condo sale June 19, 2018
    Retail CEO and reality TV star Marcus Lemonis closed a sale on his Gold Coast condo for $3.25 million, about a month after he put it on the market. Lemonis, who starred on the CNBC show “The Profit,” bought the three-bedroom apartment on the 17th floor of 50 East Chestnut Street in August 2016 for […]
  • Nearly one-third of American households are cost-burdened: report June 19, 2018
    Nearly 40 million American households were cost-burdened in 2016, meaning that they spent more than 30 percent of their incomes on housing, according to a new report. Though that represents a decrease of 800,000 households from 2015, renters haven’t seen much improvement since the recession, according to Harvard University’s Joint Center for Housing Studies’ “State […]
  • WATCH: TRD on Eastern’s closure, why the firm couldn’t make it work and more June 19, 2018
    Following the news that Eastern Consolidated would be shutting its doors for good next month, The Real Deal’s Hiten Samtani and Mark Maurer sat down to discuss why the firm couldn’t make it work, how the market could have influenced the brokerage’s closure, and what will happen to its listings and key brokers. Video produced […]
  • LIC co-op residents face sharp increase in property taxes, end of tax abatement June 19, 2018
    It’s a double-whammy: Residents of a Long Island City co-op are simultaneously facing a sharp spike in their property tax assessments and the end of a tax abatement. Property tax assessments at Citylights, a 522-unit middle-income residence at 4-74 48th Avenue, are expected to jump 87 percent in one year, just as a 20-year tax […]
  • Sam Zell removed as conference’s keynote speaker after vulgar comment about women: report June 19, 2018
    Sam Zell won’t be a keynote speaker at Mizuho Americas’ conference this month following the billionaire’s highly publicized comments about women. Zell was expected to speak at the Mizuho global REIT and real estate conference next week but is no longer on the schedule. His invitation was revoked after he made a vulgar comment at […]
  • At Hudson Yards, another doctor is in June 19, 2018
    Another hospital is joining Hudson Yards in hopes of tapping into the expected wave of new residents and workers at the megadevelopment. Hospital for Special Surgery is leasing 15,000 square feet at the Related Companies’ 35 Hudson Yards, Crain’s reported. The facility joins the 72-story tower’s anchor tenant, Equinox, which is opening its first hotel […]
  • Did Kramer Levin influence the city in Gamma’s Sutton Place zoning fight? June 19, 2018
    After appealing to two of the mayor’s aides, a lobbying firm temporarily won an exemption from a zoning change on the Upper East Side for Gamma Real Estate. Kramer Levin, a firm to which the de Blasio administration owes $300,000, urged Deputy Mayor Alicia Glen and Planning Commission chair Marisa Lago to halt the Sutton […]
  • Meet Brooklyn’s most prolific developer June 19, 2018
    Boaz Gilad got up from his desk. “Let me just close the window,” the Brookland Capital founder said. But it wasn’t because of the weather — the sunny, 65-degree morning was one of the nicest New York had seen in months. “They’re making noise,” he said above a series of squawks. Gilad keeps four Quaker […]
  • These were the top 10 outer borough loans in May June 19, 2018
    For the second consecutive month, the top 10 outer borough loans consisted entirely of deals in Brooklyn and Queens. Queens made up four of the top 10 loans in May, while Brooklyn took the other six spots. The Bronx and Staten Island were once again shut out. A roughly $1.4 billion loan to Delta Airlines […]
  • Never say never: Brookfield, Forest City restart acquisition talks June 18, 2018
    Brookfield Asset Management’s acquisition of Forest City Realty Trust could happen after all. The real estate investment trust is talking to Brookfield about a sale for $25 to $25.50 per share, Bloomberg reported. A mere three months ago, Forest City rejected a takeover offer of $25 per share from Brookfield and declared it would remain […]