The Real Deal - New York Real Estate News

Lawyers’ demand for $500K in fees from co-op owners “highway robbery,” judge says

Posted: 22 Jul 2018 03:00 PM PDT

Lawyers who demanded half a million dollars in legal fees from co-op owners at Seward Park on the Lower East Side were looking to carry out “highway robbery without the six-gun,” a Manhattan judge ruled. Attorneys from Greenberg Traurig asked Supreme Court Judge Arthur Engoron to force four Seward Park co-op owners to fork over $464,000 in legal fees, the New York Post reported. The homeowners sued the management over parking spaces, and Greenberg attorneys […]

Instant regret: Millennials aren’t happy to be homeowners

Posted: 22 Jul 2018 01:00 PM PDT

Millennials aren’t feeling too great about becoming homeowners. A new survey by Bank of the West found that four in 10 millennials (defined here as individuals 21 to 34 years old) are homeowners — and a majority of them regret taking the plunge, CNBC reported. Four in 10 millennials felt they’d made a poor financial decision in buying their home, according to the survey. Down payments might be a contributing factor to such results: One […]

A group of LA investors paid over $1M for a ghost town— on Friday the 13th

Posted: 22 Jul 2018 11:00 AM PDT

The sale of a 300-acre property in a historic “ghost town” outside of Los Angeles closed on Friday the 13th after a bidding war, with its new owners vowing to make it a lively hospitality destination. Cerro Gordo, an abandoned mining town 200 miles from L.A. that looks as eerie as HBO’s “Westworld,” sold to a group of eight Los Angeles-based investors for between $1 million and $1.5 million, about a 40 percent bump from […]

Rock and real estate: How music still plays a role in this exec’s corporate life

Posted: 22 Jul 2018 09:00 AM PDT

 The office of Mary Lousie Perlman is a bit different from that of the typical real estate executive. For one, it includes a bass guitar and a few amps. For another, Perlman can often be spotted jamming out in her office with them. That’s because Perlman, vice president of development and marketing at the New York-based real estate firm Alfa Development, is a musician, formerly of the band Spalding Rockwell. She sometimes plays at […]

David Beckham’s latest MLS stadium and mega complex proposal, explained

Posted: 22 Jul 2018 07:00 AM PDT

For David Beckham, landing a stadium site for his Miami professional franchise has proven just as elusive as winning a World Cup for England. Since his group Miami Beckham United launched its bid to field a Major League Soccer team four years ago, the international futbol star has cycled through four possible locations with each one falling through, including Beckham’s preferred site at PortMiami that was torpedoed by the cruise line industry. In late 2015, […]

The luxury amenity du jour? Lights

Posted: 22 Jul 2018 05:00 AM PDT

The future looks bright for makers of large, fancy fixtures in Manhattan, as finely-crafted lighting has become the latest amenity throughout the halls and walls of new residential skyscrapers. “The big installations are very important because they create sidewalk appeal. People walk by, are wowed and want to go inside. It’s very effective,” designer Karen Asprea told the New York Post. In two prominent examples, Westchester designer Luke Kelly designed a $20,000 chandelier for 91 […]