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[21 Oct 2014 | No Comment | ]
Ratner calling time on Barclays Center investment with offer to sell stake

Developer Forest City Ratner is putting its stake in Downtown Brooklyn’s Barclays Center up for sale.

The company, which has a 55 percent majority stake in the sports and entertainment venue, opened the popular arena two years ago.

According to reports, the center has an annual cash flow of more than $30 million, which puts the value of the venue in the $750 million ballpark.

Brokers Weekly »

[17 Oct 2014 | No Comment | ]
Flatiron District getting 400 new apartments

By Holly Dutton
Over 400 new apartments are being built in the Flatiron District as developers eat into every piece of land available in the neighborhood.
Chinese developer Cheerland Investments could build as many as 106 apartments at 105 East 22nd Street, 106,000 s/f building it just bought for $128 million, according to brokers familiar with the property.
Along the street, at 455 East 22nd Street, developer Bruce Eichner is building a nearly 800 ft. tall luxury tower that will have 83 units.
And just west of that, at 7 West 21st Street, Friedland …

Brokers Weekly, Featured »

[17 Oct 2014 | No Comment | ]
Bushwick neighbor seeing prices go through the roof

By Holly Dutton
The exodus east for Brooklynites searching for cheaper rent has now reached Queens.
A recent third quarter report from Massey Knakal Realty Services showed that buzzy Bushwick’s next-door neighbor, Ridgewood, has exploded in the number of properties sold in the past four years — a meteoric 718 percent rise in building sales since 2010.
The New York Times reported on Ridgewood last summer, detailing how increasing rents in Brooklyn began to push artists and young people towards Queens.
And this April, the New York Daily News ran a piece about Ridgewood …

Brokers Weekly, Featured »

[10 Oct 2014 | No Comment | ]
Flatiron District getting 400 new apartments

Over 400 new apartments are being built in the Flatiron District as developers eat into every piece of land available in the neighborhood.

Chinese developer Cheerland Investments could build as many as 106 apartments at 105 East 22nd Street, 106,000 s/f building it just bought for $128 million.

Along the street,developer Bruce Eichner is building a nearly 800 ft. tall luxury tower that will have 83 units. And just west of that, at 7 West 21st Street, Friedland Properties has started work on twin mixed-use buildings that will have 239 condos.

Brokers Weekly, Featured »

[9 Oct 2014 | No Comment | ]
Larry and Bob living the old and new New York with 30 Park monument

By Holly Dutton
When you watch the promotional movie Larry Silverstein and Robert A.M. Stern shot for 30 Park Place, their first collaboration as builder and architect, you could be forgiven for believing the two stalwart New Yorkers were life-long buddies.
The film — shot in the back of a vintage black Rolls Royce — shows the World Trade Center powerhouse and Yale School of Architecture Dean driving around Manhattan, bantering back and forth about the city they love.
Both grew up in Brooklyn — Stern with working class parents in Kensington, Silverstein …

Brokers Weekly, Construction & Design, Featured »

[30 Sep 2014 | No Comment | ]
$1.5B Queens development tempts Durst out of Manhattan

The Durst Organization announced today (Tuesday) that it is investing $1.5 billion in a massive housing development in Queens called Hallett’s Peninsula.

In a joint venture with Lincoln Equities Group, the firm plans to build 2,404 units, including 483 affordable units along an undeveloped waterfront area of Astoria.

In Durst’s first major project outside Manhattan, the project will also include a supermarket, retail, an extended and rebuilt waterfront esplanade, and renovated playgrounds and parkland.

Brokers Weekly »

[26 Sep 2014 | No Comment | ]

Home prices in the Manhattan condo market reached an all-time high in August, and are now nearly 7 percent higher than their previous peak in September 2007. Lack of inventory remains a key driver in condo price gains, according to the August StreetEasy® Manhattan Condo Market Report.

The total number of condos listed on the market in August fell by 4.6 percent from July, an expected slowdown that occurs during the summer months. Inventory remains 18.9 percent below the five-year average for Manhattan. In an encouraging sign for buyers, August inventory …

Deals & Dealmakers »

[25 Sep 2014 | No Comment | ]

By Holly Dutton
A prominent website publishing platform is taking space in Hudson Square, relocating its company’s three offices to one headquartered space at Trinity Real Estate’s 225 Varick Street.
Squarespace, which is used by hundreds of thousands of individuals and business owners to create personalized websites, is taking 100,000 s/f at the 12-story building, which will include the top three floors along with a private lobby and roof deck.
“We are pleased to welcome Squarespace to Hudson Square’s thriving community of creative and media companies,” said Jason Pizer, President of Trinity Real …

Brokers Weekly, Featured »

[19 Sep 2014 | One Comment | ]
Adeline promises to be great new neighbor

By Holly Dutton
The booming area of northern Manhattan is adding another gem to its roster of new apartments with L+M Development’s luxury condo building, The Adeline.
Located in Central Harlem, just six blocks from Central Park, the sleek and modern 12-story building at 23 West 116th Street is generating buzz with its thoughtful design, convenient location and value.
“The interest has been amazing,” said Julia Boland, director of sales of the building and managing director at Halstead Property Development Marketing, which is handling the marketing and leasing of the building. “There were …

Deals & Dealmakers, Featured »

[17 Sep 2014 | No Comment | ]
Clothes encounters lead Frenchman to career in real estate

By Holly Dutton

After making a name for himself as the go-to dealmaker for European luxury brands looking to plant a flag in New York City, Bertrand de Soultrait has started his own firm.
De Soultrait, who has made a big splash in his five years in the real estate industry, launched his firm Bertwood Realty about a year ago, after successful stints at two NYC-based firms.
Before making his way into the real estate world, de Soultrait co-founded Vicomte A, a French apparel company with $20 million in annual sales, along with …

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