The Real Deal - New York Real Estate News

Amazon’s doorbell-camera company raises surveillance concerns, Hudson’s Bay sells Lord & Taylor: Daily Digest

Posted: 28 Aug 2019 02:14 PM PDT

Every day, The Real Deal rounds up New York’s biggest real estate news. We update this page in real time, starting at 9 a.m. Please send any tips or deals to [email protected] This page was last updated at 5:10 p.m. Video produced by Sabrina He Zillow has moved to dismiss a shareholder derivative suit. The real estate data conglomerate has disputed claims in a lawsuit brought by shareholders who say its senior staff […]

Goldman Sachs provides $90M loan to refinance hotel in Williamsburg

Posted: 28 Aug 2019 01:00 PM PDT

Goldman Sachs issued an $88.4 million loan to refinance debt at Brooklyn’s Pod Hotel, The Real Deal has learned. It is the third debt issuance to the 249-key budget hotel at 247 Metropolitan Avenue, which was developed by CBSK Ironstate — a partnership between CB Developers, SK Development Group and Ironstate Development. Lionheart Strategic Management, a debt vehicle owned by Fisher Brothers, provided a $10 million mezzanine portion, included in the debt. The debt will […]

Pam Liebman’s lifeguarding days

Posted: 28 Aug 2019 11:00 AM PDT

It’s fun to think that the CEOs, developers and top industry brokers — who these days have hundreds of employees under their purview and salaries that put them in the uppermost stratosphere of earners — once made minimum wage. TRD talked to six industry leaders to find out how they got their start and what they learned from their first foray into the workforce. Below, Pam Liebman describes getting — and quitting — her first […]

Beacon Capital lands $300M refinancing for Fifth Ave building

Posted: 28 Aug 2019 09:30 AM PDT

Beacon Capital Group landed more than $300 million to refinance a Fifth Avenue office condo leased to Barneys New York for its corporate headquarters and a large WeWork location. TPG Real Estate Finance provided the nearly $309 million loan for unit A of 575 Fifth Avenue, according to property records filed with the city Wednesday. The money replaces a previous loan from Deutsche Bank. Grant Frankel and Ethan Pond of Eastdil Secured brokered the deal. […]

The Daily Dirt: Déjà vu in the title insurance industry

Posted: 28 Aug 2019 08:30 AM PDT

To wine and dine clients or to not wine and dine clients? That is the question the title insurance industry must ask itself again and again and again. For the second time, the Department of Financial Services is trying to reinstate a rule that prohibits title insurance brokers from showering prospective clients with dinners, lavish gifts and (in some cases) trips to the strip club. Earlier this month, New York Supreme Court Judge Eileen Rakower […]

Newmark poaches Eastdil Secured sales team

Posted: 28 Aug 2019 08:29 AM PDT

Newmark Knight Frank poached a team of young brokers from Eastdil Secured to lead its investment-sales group in New York City. Brokers Brett Siegel, Evan Layne and Jean Celestin will join Newmark effective next week to head up its I-sales practice, sources told The Real Deal. The brokers resigned from Eastdil Tuesday. A representative for Eastdil declined to comment and a Newmark spokesperson was not immediately available. The brokers either declined to comment or couldn’t […]

Here are the week’s top luxury sales

Posted: 28 Aug 2019 07:35 AM PDT

Each week, The Real Deal and CityRealty look back at Manhattan’s priciest apartment sales.

Why the title insurance industry remains on self-imposed party probation

Posted: 28 Aug 2019 05:15 AM PDT

They won’t be bringing clients to strip clubs. And they won’t be buying up luxury boxes at the Garden to gin up business. Not yet, anyway. Despite a recent court ruling that reversed the state’s prohibition on wining-and-dining clients, the title insurance industry is taking it slow. Several court reversals as to what title insurance brokers can and can’t do have created a confusing work environment, and multiple executives said their companies are choosing to […]

Here’s a look at the hotels coming to the Tri-State region

Posted: 28 Aug 2019 04:30 AM PDT

The developer behind Westchester County’s largest hotel project in 20 years, D’Wayne Prieto, is naturally optimistic about growth in the suburbs. The principal of Dobbs Ferry-based Ward Capital Management has a clear vision — and clear opinions — on why now is the right time for his two projects: a 225-key TRYP by Wyndham hotel in New Rochelle’s rapidly revitalizing downtown, and a smaller TRYP property on Long Island, on the Bayville waterfront. “A lot […]

Lead-gen firm Triplemint jumps into the new dev game

Posted: 28 Aug 2019 04:00 AM PDT

Lead-generation brokerage Triplemint is looking to break into the new development game. The six-year-old firm, which uses predictive analytics to generate buyer and seller leads, will be applying its technology to condo sales, co-founder and CEO David Walker said. Until now, Walker said, Triplemint has been fine-tuning the process for resales. “Now that we feel like we’ve done that, we can go to more audiences — developers being one of them,” he said. For its […]