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Massey Knakal NJ play raises eyebrows

April 22, 2013, 8:55 am
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Massey Knakal Realty Services is set to hire as many as 40 brokers to staff several new offices in New Jersey, where it wants to compete with long-term New Jersey players such as CBRE, Cushman & Wakefield and Gebroe-Hammer Associates, the Wall Street Journal reported. David Simon, a former Cassidy Turley executive, will head up the first New Jersey office. The office will employ the same territory system as the company’s New York office, whereby… [more]

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LIC development site to hit auction block with $39M lien

April 22, 2013, 12:10 pm
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A development site in the Court Square area of Long Island City is slated to hit the foreclosure auction block May 17 with an outstanding lien of $38.54 million. The residential development site, at 44-30 Purvis Street, was formerly controlled by developer and landlord Baruch Singer and investor David Weiss, who financed a residential project at the site in 2006 with a $13 million mortgage-backed loan from G3-Purves Street LLC, an entity which appears to… [more]

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Leslie Garfield puts UES townhouse on market

April 23, 2013, 11:54 am
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A five-story, Georgian-style townhouse belonging to residential brokerage founder and townhouse specialist Leslie J. Garfield has hit the market asking $8.5 million, StreetEasy shows. Garfield has owned the property at 107 East 91st Street since before his firm, Leslie J. Garfield & Co., was founded. He lived there for 33 years starting in 1969 but has rented it out in recent years, he told The Real Deal. The property is listed by Matthew Pravda, a… [more]

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Town Residential’s new development chief departs firm

April 23, 2013, 2:54 pm
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Reid Price, one of the first recruits of two-year-old brokerage Town Residential, has left the firm, The Real Deal has learned. Price, a managing director who headed Town’s new development division, joined the company in 2010. He was one of a first wave of high-profile brokers to move to Andrew Heiberger’s start-up from firms such as the Corcoran Group and Brown Harris Stevens. Price had previously specialized in new development marketing at Brown Harris Stevens… [more]

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NGKF triumphs at REBNY’s “ingenious” deal awards

April 24, 2013, 4:09 am
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Barry Gosin, Brian Waterman and Romel Canete of Newmark Grubb Knight Frank took home top honors last night at the Real Estate Board of New York’s annual “Most Ingenious Deal of the Year” awards, held at the 101 Club on Park Avenue. The trio took home first place in the competition for its role in representing Morgan Stanley in a 1.2 million square-foot office lease at One New York Plaza last year. The deal was… [more]

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CVS Caremark inks lease at 3 Columbus Circle

April 24, 2013, 9:09 am
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Integrated pharmacy CVS Caremark has inked a 15-year lease for 21,159 square feet at 3 Columbus Circle, the office tower owned by SL Green Realty and the Moinian Group, the Wall Street Journal reported. CVS will occupy a portion of the ground and second floors at the recently-renovated building, which has an alternate address of 1775 Broadway. Other occupants of the building include advertising giant Young & Rubicam, which purchased an interest in a commercial… [more]

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Outgoing Town new development chief lands at Elliman

April 26, 2013, 8:55 am
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New development guru Reid Price has joined Douglas Elliman just days after suddenly leaving Andrew Heiberger’s Town Residential Price had been the managing director of Town’s new development and sales division and will hold the title of executive vice president of development marketing at Elliman. At Elliman, Price will work with new development chief Susan de Franca and managing director Horacio LeDon on the marketing of projects such as the 33-unit Sterling Mason at 71… [more]

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Janna Bullock faces foreclosure on Park Avenue digs

April 26, 2013, 10:55 am
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Russian mansion flipper Janna Bullock has been accused of money laundering and organizing horse-killing safaris for wealthy huntsmen. Now, she is being accused of not paying more than $40,000 in common charges for her Park Avenue condominium. Bullock is in a face-off with the board of managers at the white-glove Park Avenue Court condominium at 120 East 87th Street; the board claims she owes $41,579 in common charges, assessments and late charges, and wants to… [more]

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Rubicon Property founders launch real estate tech firm

April 29, 2013, 8:54 am
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The founders of residential brokerage Rubicon Property have launched a related technology company called Rubicon Media, which will build mobile applications and other software targeted at the real estate industry, the firm’s CEO, Jason Haber, told The Real Deal on Friday. Rubicon Media’s first product, called Ground Up, debuted today. The application is a digital sign-in sheet designed for on-site sales offices at new developments. The information collected from the application feeds into a content… [more]

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Queens development site hits market with $11M price tag

April 30, 2013, 9:11 am
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A corner in Queens that has 78,000 buildable square feet has hit the market with an asking price of $11.25 million, according to Ariel Property Advisors, the commercial brokerage marketing the site. The property, on the border of Astoria and Long Island City, consists of three contiguous lots with 182-feet of frontage on the north side of Broadway between 14th and 21st Streets. Public records show the lots, at 14-01, 14-07 and 14-19 Broadway, are… [more]

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Park Slope McDonald’s site up for grabs

April 30, 2013, 2:54 pm
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Brooklyn’s Fourth Avenue has had its share of ups and downs – the real estate boom saw new towers like the Novo and the Crest sell out, while the crash caused new developments to stall along the prominent stretch. But it appears to be back on a roll. A development site at 275 Fourth Avenue on the corner of 1st Street, primed for a 60,000-square-foot residential development, has hit the market asking $12 million, TerraCRG,… [more]

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Town claims former new development chief breached contract

May 2, 2013, 7:10 am
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Town Residential has sent Reid Price, the firm’s recently-departed new development chief, a cease-and-desist letter demanding that he halt his involvement with the new development marketing division of his current firm, Douglas Elliman, according to sources close to the company. The firm also called on officials at Elliman to end the company’s relationship with Price. Town has threatened to sue Price if he fails to respond to the requests; a potential lawsuit would focus on… [more]

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James Hotel trades for $85M

May 2, 2013, 9:40 am
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The James Hotel, a 70,000-square-foot property at 27 Grand Street in Soho, has traded for close to $85 million, according to its former owner Brack Capital Real Estate. The 20-story, 114-room property debuted in 2010, and is managed by Denihan Hospitality Group. The hotel is home to the famed restaurant of star chef David Burke. Denihan will continue to manage the hotel and operations will remain unchanged under the property’s new ownership, according to a… [more]

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Glenwood plans to raze UES buildings — another sign that a development is near

May 2, 2013, 12:10 pm
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Glenwood Management has filed demolition permits for two Upper East Side buildings it acquired last month, according to city Department of Buildings records. The permits are the surest sign yet that the rental giant is planning a new development at the site, at 58-60 East 86th Street, between Park and Madison avenues, which currently houses a four-story townhouse and a six-story rental building. Glenwood filed the demolition permit applications April 25, records show. The company… [more]

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Ashkenazy sues over $28M retail condo contract

May 3, 2013, 2:10 pm
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New York City-based real estate investment firm Ashkenazy Acquisition, headed by young mogul Ben Ashkenazy, has sued the owners of a retail condominium at 1991 Broadway, after signing a contract to pay $28 million for the property. The family firm that owns the property claimed there was no special permit restricting use of the city-owned interior atrium with public seating at the building, according to the suit, filed April 26. In fact, Ashkenazy alleges, the… [more]

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Silverstone to bring high-end condos to Dumbo site

May 8, 2013, 11:10 am
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Manhattan-based real estate investment company Silverstone Property has acquired a three-story manufacturing building at 51 Jay Street in Dumbo for $45 million, principal Martin Nussbaum told The Real Deal today. Following yesterday’s closing, the company plans to bring large high-end condominiums to the site, Nussbaum said. Silverstone, working with ODA Architecture, the firm behind the design of Manhattan’s 93 Worth Street condos, is planning to convert and extend the building, which will ultimately have between… [more]

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Ex-wife of Rolling Stone founder lists UWS pad for $18M

May 9, 2013, 2:09 pm
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The ex-wife of Rolling Stone founder Jann Wenner is finally offloading her Upper West Side townhouse — more than a year after she decided to offload her husband. Jane Wenner, who split from Wenner in 1995 but only filed for divorce in 2011, is asking $17.95 million for the home at 37 West 70th Street, according to StreetEasy. Wolf Jakubowski of Brown Harris Stevens has the listing, which came online yesterday. The Wenners bought the… [more]

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Rechnitz’s JSR Capital plans Madison Avenue tower

May 14, 2013, 10:26 am
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JSR Capital, the Manhattan-based real estate investment firm headed by Africa Israel alumnus Jona Rechnitz, is planning to build a new condominium or hotel project at 238 Madison Avenue, between 37th and 38th streets, The Real Deal has learned. The company acquired the site, which is currently home to an 11,243-square-foot multifamily townhouse, yesterday for slightly under $12 million, sources said. The building comes with 27,500 square feet of additional air rights, allowing for a… [more]

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Nassi gets “monkey off his back” with 315 Park Avenue South sale

May 14, 2013, 5:39 pm
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Real estate honcho Craig Nassi of BCN Development said the $250 million sale of his former office building at 315 Park Avenue South, which closed today, was a relief, both personally and for his company, which has faced foreclosure at the property since August 2012. “It’s definitely a monkey off my back,” Nassi told The Real Deal today. “This was such a milestone to get it closed and have the threat of foreclosure off our… [more]

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Tech tenants sign almost 90 percent of Times Square leases in last 18 months

May 22, 2013, 3:54 pm
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Times Square may be experiencing a mini technology boom, with tech companies including Yahoo and Microsoft snapping up 633,000 square feet of space in the neighborhood over the last 18 months, according to data provided to The Real Deal by the Times Square Alliance, a business improvement district group. Leases signed by companies in the sector have represented approximately 33 percent of all office deals inked in the Times Square area since December 2011, the… [more]

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