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Deals & Dealmakers, Featured »

[23 Jul 2014 | No Comment | ]
School deal takes 40 Wall to best in class

A decision by the Trump Organization to keep 40 Wall an office building in the face of the residential conversion current that swept downtown has paid off.

Last week, the Pine Street School officially opened an 85,000 s/f facility on three floors of the building.

Working with a team from Cushman & Wakefield led by Jeffrey Lichtenberg and Jared Horowitz, Don Trump Jnr. has brought the landmark 1.3 million square-foot tower to almost full occupancy in the past two years.

Deals & Dealmakers, Featured »

[23 Jul 2014 | No Comment | ]
Taxing times as investors examine all the options

James Nelson of Massey Knakal, sat down with William Elder of RXR Realty, Christopher Schlank of Savanna Partners, Brian Steinwurtzel of Newmark Grubb Knight Frank and Andrew Levin of Boston Properties to discuss their current projects and the current office building sales and leasing market.

Deals & Dealmakers, Featured »

[23 Jul 2014 | No Comment | ]
Court dismisses lawsuit brought by Empire State Building investors

The Manhattan Supreme Court has dismissed a lawsuit by 3,000 former Empire State Building stakeholders against Peter and Anthony Malkin.

The ruling, made public Monday and reported by the Associated Press, is a major victory for the father-and-son real estate investors and their Empire State Realty Trust.

Deals & Dealmakers, Featured »

[23 Jul 2014 | No Comment | ]
Robert Durst arrested in Texas

Disgraced real estate heir Robert Durst was arrested in Houston for urinating on a CVS counter.

Brokers Weekly, Featured »

[23 Jul 2014 | No Comment | ]
Investment tally hits $73M at upstart residential brokerage

It’s been a rocky first year for Urban Compass, but the brokerage startup finally seems to be living up to the hype.

A month after stunning New York’s real estate industry by poaching top broker Leonard Steinberg from rival firm Douglas Elliman, Urban Compass announced it raised $40 million in Series B financing.

Co-founder and executive chairman Ori Allon said the firm will use most of the money to expand beyond New York City. He added that Urban Compass will likely open its first office outside of New York this year, with Washington D.C., Boston and Chicago as frontrunners.

Brokers Weekly, Featured »

[23 Jul 2014 | No Comment | ]
William Raveis to offer StreetEasy listings

William Raveis New York City, the City’s newest residential real estate firm and the 100th office of the largest family-owned real estate company in the Northeast, today announced that it will offer StreetEasy’s NYC listings.

The news comes on the heels of the Real Estate Board of New York (REBNY) decision to introduce IDX – Internet Data Exchange – for the REBNY Listing Service (RLS).

And Douglas Elliman Real Estate signed a deal with Zillow – parent company of StreetEasy – to get its 9,000 listings prime space on its network.

Deals & Dealmakers, Featured »

[21 Jul 2014 | No Comment | ]
Silverstein signs 100,000 s/f tech tenant at 4 WTC

Silverstein Properties announced today that global technology company MediaMath has signed a 15-year, 106,000 s/f  lease at 4 World Trade Center.
The company will consolidate its more than 300 NY-based employees from three Midtown locations into the 44th, 45th, and 46th floors of 4 World Trade Center when it moves into the 72-story tower in early 2015.
MediaMath joins a growing  group of companies that have made long-term commitments to the new World Trade Center, and becomes the first global marketing technology company to commit to 4 WTC.
Th lease comes on top of more …

Deals & Dealmakers, Featured »

[21 Jul 2014 | No Comment | ]
The more things change, the more they stay the same for Eric Roth

By Konrad Putzier
There are plenty of sons in real estate who took over their father’s business and decided to stick with a proven strategy. And then there’s Eric Roth.
When he took over Friedman-Roth Realty Services from his father Selwyn in 1991, the company had only one business: commercial brokerage. Twenty years later, it has evolved into something of an omnivore.
Roth still brokers sales of multifamily buildings — the company’s bread and butter in the 1970s and 80s — but now spends more time and money buying non-performing debt and making …

Featured, Legal »

[18 Jul 2014 | No Comment | ]
Spinola welcomes terrorism risk insurance extension

REBNY President Steve Spinola welcomed the U.S. Senate’s decision to extend the Terrorism Risk Insurance Act.
“Today’s overwhelming 93-4 vote in the United States Senate to extend the Terrorism Risk Insurance Act is a testament to the stellar leadership of New York’s Senior Senator Charles Schumer,” he said in a press statement. “This action sends a clear message that protecting our nation and providing our industry with stability is of paramount importance.”
The law, first implemented in the wake of 9/11, is designed to keep a lid on commercial building owners’ insurance …

Brokers Weekly, Featured »

[18 Jul 2014 | One Comment | ]
Yonkers luring young professionals with cheaper prices, proximity to city

By Dan Orlando
It’s no secret that the Baby Boomer’s brainchild, urban sprawl, started to lose steam when Millennials began leaving the nest and striking out on their own. Seeking the allure of culture, nightlife, and career opportunity the North East-based professionals have long been drawn towards the epicenter of Midtown, New York as opposed to away from it.
While surrounding neighborhoods, such as Brooklyn’s Williamsburg and Queen’s Astoria have already begun to teem with 20 and 30-somethings looking for affordable housing, it would be wise to not overlook the neighbor to …

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