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Lower Manhattan office market lags: CBRE
Average asking rent in Manhattan. Source: CBRE Group The industry mantra has been for months now that the Downtown office market is red hot, but the latest market statistics paint a more nuanced...
View ArticleBaby boomers seek young roomers to fill rent gap
A drop in post-retirement income coupled with New York City’s high cost of living has led more baby boomers to seek young adults to fill their spare rooms, according to new data from rental website...
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Past pink townhouse drops ask, switches broker
From left: Fredrik Eklund, John Gomes and 233 Garfield Place The owner of the formerly Pepto Bismol-pink townhouse in Park Slope, since painted over and listed for $4.8 million in July, dropped the...
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3 WTC snags $340M in financing from state program
3 World Trade Center Silverstein Properties landed a $340 million round of financing today, topping a recent $1.3 billion influx after the developer signed advertising giant and anchor tenant GroupM...
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Condo board hit with disability suit over dog access
A hearing dog and 2 South End Avenue The condominium board at Cove Club in Battery Park City is facing a lawsuit for allegedly barring a deaf 76-year-old resident’s hearing-assistance dog from the...
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Home prices on the rise in Forest Hills
72 Tennis Place in Forest Hills, Queens Home prices in a coveted Queens neighborhood hit hard by the recession are on the rise, and real estate agents credit a bidding war among families who can’t...
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NYU proposes new medical center in Cobble Hill
339 Hicks Street and Joel Kestenbaumof Fortis Property Group NYU Langone Medical Center is the latest hospital to throw its hat into the ring with a proposal for the embattled Long Island College...
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East New Yorkers fear new Denny’s will discriminate
804 Pennsylvania Avenue A new Denny’s restaurant moving in to East New York is stirring up more than pancake batter. Although the breakfast diner is already set to replace Galaxy Diner at 804...
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Prospect Heights rental building to double in height, size
85 Eastern Parkway The owner of a Prospect Heights building is spending roughly $1 million more than he paid for the property one year ago to expand the building by nearly twice its current size. The...
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Astoria waterfront development site trades for $26.5M
From left: Arthur Mirante, 3-15 26th Avenue and Jon Epstein Boris Aronov, co-developer of Tribeca’s 101 Leonard Street, has paid $26.5 million for a development site on the Astoria waterfront,...
View ArticleBroker vs. broker: How low can you go on commissions?
From the January issue: The Manhattan residential inventory crisis is forcing brokers into a tight corner when it comes to negotiating commissions and terms of exclusive agreements with sellers,...
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Long-term real estate investments to outperform stocks and bonds: report
For investors looking to maximize long-term returns, assets that lock up funds for years shouldn’t be overlooked. At the moment, investors are keen to focus on assets that can easily be cashed out at...
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NY Ink’s Chris Torres opens Brooklyn’s largest tattoo studio, priciest luxury...
River House, 435 East 52nd Street 1. House committee approves $8M Tenement Museum expansion [Crain's] 2. New Yorkers still running for the G-train [DNAInfo] 3. Should Port Authority of New York and New...
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Related’s Jorge Perez buys SoFla condo
Apogee Beach and Jorge Perez From the South Florida site: South Florida’s biggest developer Jorge Perez apparently believes strongly enough in Related Group’s Apogee Beach to buy his own condo at the...
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Fed’s slower bond buying to impact refis, home purchases
Federal Reserve Chair Janet Yellen As the Federal Reserve begins backing away from a four-year bond buying policy that has kept interest rates at historic lows, the rate of that change – and how well...
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Longtime newsstand operator allowed to return to kiosk
Jerry Delakas and Astor Place newsstand If an ousted newsstand operator starts paying off $10,000 in fines, he can go back to the Astor Place kiosk in East Village he occupied for 24 years, the city...
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Dakota co-op chief sells apartment for $27.5M
Ydessa Hendeles and the unit at 1 West 72nd Street Investment banker and philanthropist Bruce Barnes, head of the co-op board at the Dakota on the Upper West Side, has sold his three-bedroom apartment...
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Durst taps Winick to market 205 East 42nd retail
Durst’s Tom Bow and 205 East 42nd Street The Durst Organization has turned again to Winick Realty Group, this time to market the retail space at Durst’s condominium 205 East 42nd Street. The 21-story...
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Park Slope leaders, pols to discuss future of Fourth Avenue
Fourth Avenue in Park Slope Park Slope community leaders and elected officials will meet tonight to discuss the state of Fourth Avenue, a still largely industrial stretch of road in the...
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NY Aquarium breaks ground on shark exhibit delayed by Sandy
Rendering of New York Aquarium at 602 Surf Avenue in Coney Island, Brooklyn As part of its $157 million renovation project, the New York Aquarium in Coney Island, Brooklyn, recently launched...
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