$3B merger for realty groups; $400M in acquisitions planned for 2013
American Realty Capital Properties Inc. (ARCP) yesterday announced that it will acquire its sponsored REIT American Realty Capital Trust III in a $3 billion merger, GlobeSt reported. The deal is...
View Article730 Park penthouse fetches $39M
Hedge funder Daniel Benton has purchased the whisper-listed duplex penthouse at 730 Park Avenue for a cool $39 million, the New York Observer reported. Meredyth Smith and Serena Boardman of Sotheby’s...
View ArticleEast Village assemblage may give way to new housing development
Rumors circulating about a planned housing development rising on East 14th Street between avenues A and B appear to be grounded in reality. EV Grieve reported that eight lots at 222 Avenue A and...
View ArticleBuilder confidence rises for eighth straight month
Builders are increasingly bullish about the newly built single-family home market, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index. The index of builder...
View ArticleClik here to view.
Related’s Ross downplays impact of East Side rezoning: VIDEO
From left: Stephen Ross, William Mack and Diane Brady Related Companies Founder and Chairman Stephen Ross said Mayor Michael Bloomberg's proposal to increase the density of office buildings in Midtown...
View Article‘Like’ us on Facebook
“Like” The Real Deal magazine on Facebook here, and you’ll be sure to stay abreast of the latest real estate news. Our Facebook page features breaking industry stories, links to quirkier pieces and...
View ArticleClik here to view.
DHA picks up Greenwich Village property for $32M, Sandy survivors nominated...
[caption id="attachment_219381" align="aligncenter" width="575"] Richard Holbrooke and Kati Marton;s Beresford apartment[/caption] DHA picks up Greenwich Village property for $32 million. Building's...
View ArticleInterest rates rise, causing applications to slump
The number of mortgage applications decreased 12.3 percent on a seasonally adjusted basis, while increasing 13 percent on an unadjusted basis, during the week ending December 14, the Mortgage Bankers...
View ArticleClik here to view.
Soho side street sales soar
Building sales on Soho's side streets are soaring, according to the New York Times. Last week the King of Greene, a Isaac F. Duckworth designed building at 72-76 Green Street, sold for $41.5 million...
View ArticleBrooklyn Bridge Park residential development plan sparks flooding oncerns
The Bloomberg administration’s plan to find a developer for a new luxury tower in Dumbo’s flood zone is facing criticism from politicians and locals alike, the New York Daily News reported. On Monday,...
View ArticleA look at New York City’s little known (and highly coveted) tucked-away streets
From the December issue: In New York City, privacy is the ultimate luxury. So it makes sense that the demand for historic homes on New York’s secluded mews streets — often nestled off side streets,...
View ArticleClik here to view.
Extell, liquidating assets ahead of new tower, sells Riverside Center...
[caption id="attachment_219421" align="aligncenter" width="575"] Gary Barnett, 1780 Broadway, the site of the new tower, and a rendering of Building 2[/caption] Yesterday, Extell head Gary Barnett and...
View ArticleFHA, hemorrhaging money, to scale back reverse mortgage program
With the Federal Housing Administration losing ever more money, the agency announced that it would tighten mortgage standards for certain homeowners and scale back the scope of its reverse-mortgage...
View ArticleArchitecture Billings Index continues upward streak; but group warns of risk...
The Architecture Billings Index, a leading indicator for future construction spending, posted its fourth consecutive monthly gain in November, according to the American Institute of Architects. The ABI...
View ArticleManhattan Residential buys 40 UWS rental units in bulk deal
When the Upper West Side’s Hermitage rental building turned condo in 2001, not all of its residents moved on without complaint. Eleven years later, 40 units at the building, which overlooks Central...
View ArticleZeckendorfs, Stern to pair up again for UES condo tower: report
Considering the success of 15 Central Park West and 18 Gramercy Park, it looks like Arthur and William Zeckendorf are taking another shot at their luck. The Wall Street Journal reported that the duo...
View ArticleFederal bill to help FHA recoup losses unlikely to pass U.S. Senate
Federal legislation giving the Federal Housing Administration increased power to recoup losses on bad loans is not likely to pass in the Senate by the end of the year because of Republican opposition,...
View ArticleHospitals rapidly expanding across the city
With billions of Federal dollars pouring into the health care industry, hospitals across the city and its outer boroughs have experienced unprecedented growth in 2012, leading to a jump in leasing...
View ArticleClik here to view.
Airbnb CEO defends legality of service after city crackdown: VIDEO
Despite legislation passed by the city last year outlawing hotel uses in residential buildings, the hospitality website Airbnb's CEO Brian Chesky told CBS News that his company is not trying to bend...
View ArticleNYC area sees uptick in mortgage delinquencies
Foreclosures and mortgage delinquencies in New York-White Plains-Wayne, N.J. increased slightly year-over-year in October, according to the newest national foreclosure report from CoreLogic. In October...
View Article