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CORE out, Elliman in at Walker Tower

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Douglas Elliman said today it will take over as the exclusive marketer at Walker Tower, bumping CORE from the assignment. The move follows CORE agent Vickey Barron’s departure to Elliman earlier this week. The brokerage will be responsible for selling the few last remaining units at the building at 212 West 18th Street, developed by JDS Development and Property Markets Group. The available units include a 5,900-square-foot penthouse with 479 square feet of outdoor space…. [more]

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Shvo’s High Line deal a “make or break” second chance

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Michael Shvo, the bad boy marketing maven who made his name during the real estate boom by hosting celebrity parties and spearheading over-the-top marketing campaigns, posed for a Wall Street Journal photographer on the High Line earlier this month in a dark suit and a crisp white shirt, his hair slicked back. In the background: a Getty gas station which sits on the West Chelsea parcel he just purchased in partnership with developer Victor Homes…. [more]

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SOM partner Peter Magill lists Chelsea pad for $4M

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Skidmore Owings & Merrill partner Peter Magill, an architect who has worked on projects such as London’s Canary Wharf, has listed his personally-designed Chelsea penthouse for $4 million. The three-bedroom, three-bathroom residence, at 133 West 22nd Street, came online today and is listed by Frank Arends and Daniela Zakarya of Town Residential. Magill bought the property with his wife, model Tracey Magill, for $3.1 million in 2009, records show. The 1,892-square-foot apartment, on the building’s… [more]

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Toll Brothers’ plan for Hudson Square condos faces major hurdle: Verizon’s lease

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Many New Yorkers are familiar with that unique form of anticipation that comes from waiting for Verizon to appear at one’s apartment door. But national development firms are not usually beholden to the schedule of the telecommunications giant. Not so for Toll Brothers, which has a major hurdle to clear before proceeding with its planned condominium tower at 78-86 King Street in Hudson Square: The developer must find an alternative location for Verizon, the tenant… [more]

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Elliman’s Senequier buys Chelsea townhouse project for $2.7M

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UPDATED, 1:07 p.m., May 30: French-born Douglas Elliman super broker Herve Senequier, who co-leads the brokerage’s luxury lofts team with Leonard Steinberg, has purchased a Chelsea multi-family townhouse at 204 West 21st Street for $2.7 million, according to public records filed with the city today. The deal comes a month after Senequier and Steinberg inked a deal to flip a condominium unit, an investment property, they co-owned at 251 West 19th Street for $2.68 million…. [more]

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Former Queens hospital will be auctioned off

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A Queens building which housed the defunct Parkway Hospital is set to hit the foreclosure auction block next month with an outstanding lien of $14.86 million, according to data from PropertyShark. The 70,000-square-foot property, at 70-35 113th Street in Forest Hills, was home to the city’s only privately owned hospital until 2008, when the New York State Commission of Healthcare Facilities mandated its closure. The building has been vacant since. After spending millions of dollars… [more]

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Ex-Yukos exec, accused of ordering murders, lists Stanhope pad for $15M

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Leonid Nevzlin, a former executive at the now defunct Yukos oil company in Russia, put his 10th floor residence at the former Stanhope Hotel on the market for $15 million. Tamir Shemesh of the Corcoran Group has the listing. At one point one of the world’s billionaires, Nevzlin bought the property for almost $13.1 million in April 2008, records show. Later that year, Russian authorities found Nevzlin guilty of organizing the murders of five people… [more]

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Sky garage penthouse to come on market with $23M price tag

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The last remaining sponsor unit at 200 11th Avenue in West Chelsea, which was listed last year for $12.9 million, is slated to make its return to the market in September with a mammoth price tag of up to $23 million, The Real Deal has learned. Between now and September, the 3,248-square-foot penthouse condominium, famed for its en suite sky car garage, which allows the owner to park their car at the entry level to… [more]

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Anderson Cooper’s boyfriend to open third NYC bar

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Ben Maisani, whose partner is CNN anchor Anderson Cooper, is set to open a third trendy New York City gay bar in Hell’s Kitchen, The Real Deal has learned. Maisani, 40, took possession of a 5,000-square-foot watering hole at 753 Ninth Avenue, between 50th and 51st streets, this weekend after being approved for a liquor license at the property in April under the name Oxido Corp., sources said. The location was once home to wine… [more]

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Jeff Blau projects “hairy” exits, refi problems for investors in core assets

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Related Companies CEO Jeff Blau is concerned that the free flow of debt and equity financing for core New York City commercial buildings will mean future trouble for investors who’ve been snapping up trophy assets with in place cash-flow. The commercial mortgage-backed securities market is “as frothy as it’s ever been,” Blau said today as a panelist at the Bloomberg Hedge Funds Summit, held at the Signature Theater in Midtown. “It’s a very competitive market… [more]

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For mid-sized commercial brokerages, influx of institutional investors in NYC spells trouble: NGKF’s Kuhn

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As institutional players such as pension funds and sovereign wealth funds increasingly lead the charge investing in the New York City real estate market, it’s becoming more challenging for mid-sized commercial brokerage firms to keep their heads above water, said James Kuhn, president of Newmark Grubb Knight Frank, speaking today at a breakfast forum hosted by the New York State Society of CPAs. “Real estate has become much more of an institutional business,” Kuhn said…. [more]

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Sag Harbor Watchcase Factory debuts model unit, launches sales: PHOTOS

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The ongoing restoration of Sag Harbor’s former Bulova Watchcase Factory is truly “the project that could” and required a team of “ultra marathoner” developers to oversee it, said James Lansill of Corcoran Sunshine Marketing Group yesterday at the unveiling of the development’s model unit. Indeed, the condominium and townhouse project – which is set to complete construction within the next 18 months – has been in the works for more than seven years. Developer Cape… [more]

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Watchcase developer completes acquisition of nearby Sag Harbor hotel

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Cape Advisors has bought an interest in a Sag Harbor hotel near the former Bulova Watchcase Factory that it is transforming into condominiums and townhouses, The Real Deal has learned. The development company is entering into a joint partnership with the owner of Barron’s Cove Inn at 31 West Water Street; the deal with KBR Associates closed Thursday and a “top-to-bottom” renovation of the 66-room property will begin after operations win early July, Cape CEO… [more]

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Dolly Lenz leaving Elliman: sources

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Dolly Lenz, Douglas Elliman’s perpetually top-ranked luxury sales broker, is leaving the firm after a 14-year tenure, The Real Deal has learned. Lenz was not immediately available for comment on the reason for her departure. Elliman declined to comment. For years, Lenz and fellow power broker Carrie Chiang battled for the top spot on TRD’s list of Manhattan agents. Lenz eventually withdrew from her company’s own competition in 2011 in order to allow other brokers… [more]

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Billionaire Jeff Greene doubles down in NYC market with two condo projects

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Billionaire real estate entrepreneur and former Florida Senate candidate Jeff Greene has set his sights on New York City, with plans to bring two Manhattan condominium projects to market in the next few years. Palm Beach, Fla.-based Greene, famous for predicting the housing crash and thereby making a fortune betting against subprime mortgages, is planning a 140,000-square-foot condo project at 100 Vandam Street in the Hudson Square area, he told The Real Deal yesterday. Nearby,… [more]

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Pricey condos, retail slated for site near Whitney Museum

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Health care entrepreneur Daniel Straus is turning his hand to development, remaking six historic brownstones and two townhouses on the Upper East Side into a boutique mixed-use property where condominium units will start at $13 million, The Real Deal has learned. A part-time philanthropist and CEO of a company that operates a network of nursing and assisted living facilities, Straus has previously owned and managed residential and commercial buildings in the city. His affiliate company,… [more]

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Jellybean Benitez to relist Gramercy Park brownstone as $33K/month rental

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Grammy Award-winning bassist, music producer and DJ John Benitez, better known as Jellybean Benitez, will relist a triplex at his 11,610-square-foot Gramercy Park townhouse today as a rental, The Real Deal has learned. The apartment, which takes up three floors of the 27-foot-wide brownstone at 11 Gramercy Park South, will be listed by Luis Ortiz of Keller Williams NYC, asking $33,000 a month. It was previously listed for sale as a co-exclusive by Douglas Elliman’s… [more]

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Old Hollywood star Celeste’s home in contract for $10.5M

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A three-bedroom, Lincoln Square duplex, formerly home to the late Academy Award-winning character actress Celeste Holm, has found a buyer after eight months on the market, The Real Deal has learned. Holm, the Hollywood starlet famous for her turns in “All About Eve” and the Rogers and Hammerstein musical “Oklahoma!,” lived in the apartment at 88 Central Park West for close to 50 years before her death last summer. Austin Schuster of Sotheby’s International Realty… [more]

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Chelsea building, home to hip Cafeteria, to hit market for $45M

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A six-story mixed-use Chelsea building, home to hip celeb-friendly eatery Cafeteria, is set to hit the market for $45 million, or almost $850 per square foot, The Real Deal has learned. The 53,123-square-foot property, at 161-165 West 17th Street, has been owned and managed since 1970 by the Duhl and Spector families, based in Manhattan and in Great Neck respectively, public records show. David Schechtman of Eastern Consolidated has the listing; Schechtman would confirm only… [more]

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AG stamps approval on syndication offerings, letting condo buyers act as investors

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The New York Attorney General’s office has issued a new directive effectively allowing homebuyers and investors to purchase new construction condominium units before a developer has filed an offering plan. The memorandum, issued June 19 by the AG’s Real Estate Finance Bureau, explicitly allows so-called syndication purchases — a legal but frowned upon method of drumming up funding for residential developments. And it could have wide-ranging consequences, from pushing up land prices, to giving lenders… [more]

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