The Real Deal - New York Real Estate News

City Council’s effort to stall Two Bridges developments refused by court

Posted: 08 Dec 2018 03:05 PM PST

City Council’s temporary restraining order to stop four developers from starting work on a set of resi towers in Two Bridges was denied Friday. The order was filed on the same day as a lawsuit by the City Council and Borough President Gale Brewer against the Department of City Planning, the City Planning Commission and Mayor Bill de Blasio’s administration, claiming the executive branch’s approval of the three-tower project in Two Bridges usurped the Council’s […]

Multifamily investors should keep an eye on this market

Posted: 08 Dec 2018 01:15 PM PST

Multifamily investors looking for places to put their cash may want to consider workforce housing. The market — which is rental communities for low- to median-income workers — has outperformed the broader multifamily market, according to a new CBRE report cited by HousingWire. The segment has gotten a boost from low vacancy rates and above-average rent growth, and, because a small supply of workforce housing has been built in the last decade, there’s opportunity for […]

Critics accuse multifamily developers of building “terrible” cookie-cutter housing stock across the US

Posted: 08 Dec 2018 12:14 PM PST

The proliferation of multifamily housing across major U.S. cities in the last few years has been great for battling the housing crisis in many cities, but there’s no question that the ubiquitous, and rather bland, appearance of many new buildings leaves much to be desired. Across the country, much of the new multifamily housing stock bears familiar features — boxy structures with flat fenestration and uniform facades — and critics are up in arms, calling […]

The Strand’s building could become an official landmark despite owner’s opposition

Posted: 08 Dec 2018 11:00 AM PST

Landmarking is often seen as way of honoring important buildings, and a defense against excessive development. But what if preserving a building comes at the expense of the famous store it houses inside? That is the conundrum facing the Landmarks Preservation Commission as the agency decides whether or not to officially landmark The Strand bookstore’s building. Owner Nancy Bass Wyden testified to the LPC on Tuesday that the increased operational costs associated with landmark designation […]

How real estate mogul Mike Meldman got into the tequila business with George Clooney

Posted: 08 Dec 2018 10:00 AM PST

George Clooney’s birthday golf trips ended up working out very well for real estate tycoon Mike Meldman. Clooney and his friends would often celebrate his birthday at projects owned by Meldman’s Discovery Land Company, which is how the two initially met, according to Business Insider. Meldman eventually became one of Clooney’s friends himself, and they wound up as business partners in the tequila industry. That venture worked out well for Meldman as well, as he, […]

HUD gives housing groups $23M to fight discrimination

Posted: 08 Dec 2018 09:00 AM PST

The Department of Housing and Urban Development awarded nearly 80 groups with $23 million to investigate housing discrimination. The funds are being provided through HUD’s Private Enforcement Initiative program, which awards grant money to organizations that “conduct intake, testing, investigation and litigation of fair housing complaints under the Fair Housing Act,” according to the agency’s website. This year, two New York City-based organizations each received $300,000 each in funding: Fair Housing Justice Center and Brooklyn […]

Inside look: Photos from TRD’s tour of Zaha Hadid Architect’s One Thousand Museum condo

Posted: 08 Dec 2018 08:09 AM PST

One Thousand Museum is months away from opening and The Real Deal got an inside look at the progress to date. Construction on the 62-story luxury condominium building is expected to wrap up by March 2019. Housing 83 units, the building is 82 percent sold, according to the building’s sales director, Harvey Daniels of ONE Sotheby’s International Realty. The development team, which includes Louis Birdman, Gregg Covin, Todd Michael Glaser, Kevin Venger, Gilberto Bomeny and […]

Trump name returns to marketing efforts for namesake Chicago tower

Posted: 08 Dec 2018 07:00 AM PST

Months after broker RKF released a marketing brochure for 401 North Wabash Avenue — known to most Chicagoans as Trump Tower — that did not include the president’s name, a new brokerage launched an advertising push that returns the Trump brand front and center. This spring, RKF released a flyer in search of tenants for the building’s 64,000 square feet of unleased retail space facing the Chicago River. Not only did the brochure leave out […]

Serious inquiries only: $100K deposit required for first look at this Miami condo

Posted: 08 Dec 2018 06:00 AM PST

The Trump Group is offering a limited number of brokers’ clients the chance to peruse floor plans and pre-opening prices for The Estates at Acqualina’s north tower in Sunny Isles Beach. The catch: A prospective buyer must pay a $100,000 refundable deposit to get on the list. Developer Jules Trump said he is limiting the offer to brokers his firm has dealt with before, and will cap the reservations at 15. A buyer can use […]