The Real Deal - New York Real Estate News

Warren Buffett slashes price on Laguna Beach vacation home

Posted: 25 Aug 2018 01:00 PM PDT

Warren Buffett slashed the price of his Laugna Beach vacation home by about 30 percent. The billionaire investor reduced the $11 million asking price on his 3,500-square-foot home to $7.9 million, the Wall Street Journal reported. The home originally hit the market in February. And despite the price chop, Buffett stands to make a tidy profit on the sale. He paid just $150,000 for the property in the 1970s. The 87-year-old chairman of Berkshire Hathaway […]

AG Underwood cracks down on UES co-op skirting rent stabilization laws

Posted: 25 Aug 2018 11:00 AM PDT

The New York State Attorney General cracked down on an Upper East side co-op that skirted rent stabilization laws. Attorney General Barbara Underwood said the owner of the co-op at 417 East 60th Street acquired all the shares in the property in 2015 and then began renting units out to people who weren’t protected by the state’s rent stabilization laws, Patch.com reported. The six-story building had been a rent-stabilized property until 1984, when it was […]

New Rangers head coach buys condo at Chelsea Mercantile

Posted: 25 Aug 2018 10:00 AM PDT

David Quinn, the new head coach of the New York Rangers, is making his home in a $2.67 million loft in Chelsea. The former Boston University hockey coach closed Wednesday on a one-bedroom apartment at the Chelsea Mercantile building, Mansion Global reported. “I was looking for a place that was close to Madison Square Garden,” Quinn told the publication. The former garment factory at 252 Seventh Avenue is just a ten-minute walk away from Madison […]

How not to stage a micro apartment

Posted: 25 Aug 2018 09:14 AM PDT

This Upper West Side micro studio is big enough to hold a mini fridge… as long as it’s sitting on the top of the apartment’s bunk bed. The 140-square-foot apartment was listed on StreetEasy earlier this week at 114 West 71st Street asking $1,375 per month, Gothamist reported. But after Digg.com wrote about the listing, it was removed from StreetEasy. A real estate manager who works in the area told Gothamist that the listing could […]

“Some a—shole” who allegedly shot up Solow’s rental tower had talked about shooting someone on his Facebook page

Posted: 25 Aug 2018 08:00 AM PDT

The man suspected of being the “a—shole” who fired shots at Sheldon Solow’s One East River Place rental tower wrote about shooting somebody on his Facebook page last month. Farris Koroma, who turned himself in to police Thursday night, posted on Facebook July 14, “This summer is trash. Im bout to shoot somebody,” the New York Post reported. He also said on Facebook that he’s a member of the Crips gang. Police claim the 22-year-old […]

City kicks off process to rezone Governors Island

Posted: 25 Aug 2018 07:00 AM PDT

The city kicked off a proposal to rezone Governors Island to make way for 4.5 million square feet of new development. The de Blasio administration is looking to attract a combination of technology and life-science firms, educational institutions dormitories, and a convention center and hotel, Crain’s reported. “This is a chance to have both great public open space and great culture but also use development to give more people exposure to this amazing place,” Alicia […]

A federal judge ordered Navillus to pay unions $76M. Here’s why the contractor is only paying $26M

Posted: 25 Aug 2018 06:09 AM PDT

In a deal that will allow Navillus to exit bankruptcy, the concrete contractor will pay less than half of the $76 million settlement that a group of construction unions won against the company last year. If its reorganization plan is approved, Navillus will pay five unions a total of $25.7 million — a significantly lower sum than the group was granted in September, when a federal judge ruled that the contractor cheated the unions out […]