The Real Deal - New York Real Estate News

Chicago’s Amazon pitch dangled $2.3B in incentives, special building permit service

Posted: 23 Dec 2018 12:00 PM PST

Chicago’s bid to land Amazon’s second headquarters included a promise of at least $2.3 billion in incentives and special service permits for work at HQ2 and at company employees’ homes. Documents obtained by Crain’s showed an offer of a variety of tax rebate and credits, plus the possibility of more breaks had Amazon chosen Chicago. The company ultimately chose to split the coveted new headquarters, and its promised 50,000 new jobs, between Long Island City […]

How the Grinch stole the show

Posted: 23 Dec 2018 12:00 PM PST

This team’s really got the holiday spirit. Baltimore’s Dudley Frank Team is using The Grinch to help sell one of their listings, Inman News reported. The iconic Dr. Seuss character can be seen in listing photos hanging ornaments, sneaking around with a red tote bag and hanging out in the home’s master bedroom. Christina Dudley said the marketing tactic has worked: It’s been her best-performing listing this month. “The key is thinking outside of the […]

The Top 10 preservation fights of 2018

Posted: 23 Dec 2018 11:00 AM PST

JP Morgan’s new headquarters, the renovations to 550 Madison and rule changes at the Landmarks Preservation Commission were among the top preservation battles of 2018. Here’s a look at the year’s 10 biggest showdowns, according to Curbed: 1) Marx Brothers playground AvalonBay Communities’ plan to build a 700-foot tower on the Upper East Side rankles opponents who disagree with the developer’s plan to replace green space. 2) 270 Park Avenue Preservationists want to save 270 […]

Trump Organization could take financial hit from latest rate hike

Posted: 23 Dec 2018 10:00 AM PST

The Federal Reserve’s decision to raise rates this week could cost the Trump Organization an extra $1 million in borrowing costs. The organization has seen the interest on its debt service payments increase $6 million a year since the president was inaugurated in January 2017, according to an analysis from Bloomberg. The Fed raised the benchmark federal funds rate to between 2.25 percent and 2.5 percent, which will increase the Trump Organization’s payments on some […]

More than just Rent-a-Cop: Luxe homeowners splurge on high-end security systems

Posted: 23 Dec 2018 09:00 AM PST

You didn’t think the wealthy were just going to slap the Slomin’s Shield outside their luxe homes, did you? High-tech security systems that protect residents from everything ranging from prying eyes to chemical attacks and seismic events are all the rage, Forbes reported. “We’ve seen interest in safe rooms, blast-resistant floors and walls, as well as exterior security measures like radar that is capable of detecting a person or security cameras that can follow intruders,” […]

Blue Man Group sees green in Opp Zone

Posted: 23 Dec 2018 08:00 AM PST

The Blue Man Group jumped at the opportunity to make some green. The performance-art group is selling its Lower East Side building for $5.4 million, which will be the first Manhattan property sold into a qualified opportunity zone fund, the New York Post reported. The small mixed-use building at 48 Clinton Street spans 5,467 square feet, and has development rights that could push the buildable space up to 10,120 square feet. The buyer is Dr. […]

Washington Heights’ first food hall set to open in March

Posted: 23 Dec 2018 07:01 AM PST

Washington Heights’ first food hall is set to open next year, and it will be anchored by an outpost from popular pub Harlem Public. The North End Food Hall will open in March in the base of Sugar Hill Capital’s 4300 Broadway at West 183rd Street, Eater reported. The 6,000-square-foot space will have enough room for 120 people, and will include eateries like the Upper West Side ramen spot Jin Ramen and Salt and Bone […]

Ho ho ho, ha ha ha: Watch Blackstone’s cringe holiday comedy video

Posted: 23 Dec 2018 06:00 AM PST

Blackstone Group had no company-wide holiday party this year, citing an inability to find a proper venue for the more than 1,000 New York employees at the world’s largest alternative investment firm. But it did make a video. In a five-minute parody of “The Office” sitcom, Blackstone employees give “private” interviews, getting a chance to express their displeasure over how plans for the annual festivities were bungled. Shot in mock-documentary style, the video includes appearances […]