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[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 …

Deals & Dealmakers, Featured »

[17 Sep 2014 | No Comment | ]
SL Green sells 180 Maiden Lane for $470M

New York City’s biggest landlord, SL Green, has agreed to sell the former AIG headquarters, along with partner The Moinian Group, for $470 million, the firms announced yesterday (Tuesday).

Murray Hill Properties and Clarion Partners are purchasing the 41-story Lower Manhattan building in a joint venture.

Brokers Weekly, Mergers and Acquisitions »

[17 Sep 2014 | One Comment | ]

Powerhouse New york residential brokerage Douglas Elliman last week announced a merger with a UK homes giant and a plan to bolster its own Manhattan commercial leasing strengths.
The largest residential brokerage firm in the city is merging with one of the largest residential brokerages in the UK to form a new international brand.
Douglas Elliman Real Estate and Knight Frank Residential say their partnership will result in the largest interactive and connected network for residential properties in the world.
The new Douglas Elliman Knight Frank Residential alliance will entail both firms sharing …

Brokers Weekly, Featured »

[12 Sep 2014 | No Comment | ]
Broker helping bring new development to old stomping grounds

By Holly Dutton
Native New Yorker Makeba Lloyd is helping bring new development to the neighborhood she grew up in and still calls home today.
Lloyd, an agent with MNS Realty who specializes in new development and resales, was born in raised in Harlem.
In her 15-year career, she has received recognitions as broker of the year and broker of the month. Her experience spans the residential rental, sales and new development sectors.
Following high school, she originally sought to work in fashion, attending the Fashion Institute of Technology in Manhattan.
“I took a few …

Deals & Dealmakers, Featured »

[10 Sep 2014 | No Comment | ]
Bank buys 222 Broadway building for $502M

A branch of Deutsche Bank has purchased a lower Manhattan building from Beacon Capital for $502 million.

RREEF, a property investment firm controlled by Deutsche Bank, made the buy on August 26. The 31-story Financial District Class A building at 222 Broadway has 780,000 s/f, according to Beacon Capital’s website.

Featured, Retail »

[3 Sep 2014 | No Comment | ]
Retail changing along 23rd Street

By Holly Dutton
The retail renaissance of the Flatiron District is not news to anyone who has been to the area recently, but the specific stretch of 23rd Street between 5th and 6th Avenues has been especially changing in recent months.
Longtime major tenants like Home Depot at 40 W. 23rd and quintessential New York City stores P.C. Richards, an electronics retailer, and Sleepy’s, the mattress retailer, are a few of the anchor tenants of 23rd Street.
In March, Time Warner Cable celebrated its grand opening of its flagship retail store at 43 …

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