The Real Deal - New York Real Estate News

Tesla, Brookfield and Dacra to Build Energy-Neutral Housing Development in Austin

Posted: 09 Jul 2021 02:40 PM PDT

Elon Musk is entering the Lone Star State’s hottest real estate market, promising to help cool the climate. Musk’s Tesla Energy is partnering with Brookfield Asset Management and Dacra to create SunHouse at Easton Park in Austin, Texas, the first Tesla Solar neighborhood and the nation’s most sustainable residential community, according to a news release from Brookfield. The goal of creating SunHouse is to establish an energy-neutral, sustainable community and a model for the design

Former Newmark broker launches commercial real estate brokerage in Miami, NYC

Posted: 09 Jul 2021 02:30 PM PDT

Former Newmark Managing Director David Abrams launched a commercial real estate and advisory firm called masonre, based in Miami and New York City. Abrams said the idea is to combine his institutional experience in a small brokerage that will provide a “more personalized service.” Abrams, a retail leasing broker, started out in 2010 at RKF and stayed on with Newmark once it acquired RKF in 2018. At masonre, Director Eliot Goldschmidt is the other in-house

Real estate agent accused of squatting in Hamptons Bay

Posted: 09 Jul 2021 02:08 PM PDT

A Hamptons Bay homeowner claims in court that her tenant — a Century 21 real estate agent — is abusing coronavirus eviction protections and refusing to leave, according to the New York Post. Genya Markon, a 78-year-old who lives primarily in Israel, planned to summer in the Hamptons but arrived to find tenant Julie Rinke had stayed past the expiration of her lease. Rinke moved in a year ago and— despite a sizzling hot real

Dissecting Manhattan’s Q2 residential market reports

Posted: 09 Jul 2021 01:30 PM PDT

The following is a preview of one of the hundreds of data sets that will be available on TRD Pro, the one-stop real estate terminal that provides you with all the data and market information you need. Second-quarter reports from New York City’s top residential brokerages reveal a Manhattan market sprinting towards recovery, with rising sale prices indicating an end to pandemic discounts. Across the board, the firms issued glowing outlooks, reflecting an industry eager

NY Attorney General reviewing HFZ fraud complaint

Posted: 09 Jul 2021 12:36 PM PDT

New York state’s Attorney General has received a complaint accusing HFZ Capital Group’s Ziel Feldman of illegally offering apartments for sale — a violation that, if proven, could get him a lifetime ban on selling condos and co-ops in New York. The complaint alleges that Feldman offered the units to investors in projects before filing his offering plan with the AG’s office, a source familiar with the matter told The Real Deal. That would be

Paul McCartney’s brother-in-law drops $27M on UES penthouse

Posted: 09 Jul 2021 12:30 PM PDT

Money can’t buy love, but for one former attorney to the Beatles, it can buy a ritzy penthouse overlooking Central Park. John Eastman, an entertainment lawyer and brother of Paul McCartney’s first wife, Linda, nabbed a Carnegie Hill co-op for $26.5 million, property records show. Eastman purchased the unit at 1133 Fifth Avenue in June. The sellers were John Hannan, chairman of Apollo Investment Corporation, and his wife, Judith. The building was completed in 1928

Sopher’s “incessant” smoking a nuisance to neighbors, condo board says

Posted: 09 Jul 2021 12:00 PM PDT

The jury might need a smoke break after this one. The condo board at the Touraine, a 22-unit luxury highrise on the Upper East Side, is suing one of its own residents for smoking too much tobacco, according to a complaint filed on July 7. Jonee Sopher, the wife of parking magnate Jacob “Hank” Sopher, allegedly smokes so prodigiously that the fumes climb all the way from her third-floor unit to the 15th-floor penthouse. The

Survey says: Housing listings suck

Posted: 09 Jul 2021 11:30 AM PDT

After a year lived primarily through a screen, a study finds that the real estate industry fails to optimize online listings. Of 12,500 analyzed properties posted on Realtor.com and Zillow from March through June, 94 percent did not include an immersive, 360-degree virtual tour, Inman reported, citing a study by real estate marketing firm BoxBrownie. Only 16 percent of listings included a floor plan — and for single-family homes, just 10 percent did. Less than

Terrorized in her own home, Queens landlord says her hands are tied

Posted: 09 Jul 2021 10:00 AM PDT

For a small landlord in Queens, property ownership has turned into a nightmare. Vanie Mangal, a physician’s assistant who worked through the darkest days of the pandemic at a Connecticut hospital, has found little comfort at her home in South Ozone Park. Mangal, 31, who manages the basement and first-floor apartments of a three-unit home owned by her 70-year-old mother, says the last 15 months have been a blur of mounting arrears and conflicts with

Suburban, Hudson Valley home sale prices soar in Q2

Posted: 09 Jul 2021 09:16 AM PDT

Competition for homes remains fierce in suburban and Hudson Valley communities, as buyers bid over asking, driving prices ever higher. Demand spiked in the second quarter in Westchester, Dutchess and Putnam counties. The median sale price for a home in Westchester was $649,000 in Q2, according to a Douglas Elliman report, compiled by appraiser Miller Samuel. That marked a 12.9 percent increase year-over-year, and one of the highest prices ever recorded. In Dutchess, the median

Foul ball: Yankees, city point fingers as Bronx soccer stadium gets sidelined

Posted: 09 Jul 2021 08:20 AM PDT

A blame game between the city and the Yankees has sidelined a deal to develop a permanent home for Major League Soccer franchise New York City FC. The Yankees, owners of a minority stake in NYCFC, had linked up with housing developer Maddd Equities in 2018 to propose a $1 billion project that would develop a stadium, retail, affordable housing and a hotel on parking facilities south of Yankee Stadium, where NYCFC has played most

Greenwich targets NYC’s office workers as leasing surges 312%

Posted: 09 Jul 2021 07:00 AM PDT

For the urbanites who fled New York for Connecticut — and saw their stays extended by remote work — returning to the office might not mean returning to the city. In Greenwich, office demand has popped, lifting rents and spurring bidding wars for choice spaces, brokers told Bloomberg News, as financial firms react to the demand for suburban housing and attempt to meet employees where they are. A long-time hedge fund haven, Greenwich is now

Housing court kills e-filing tool, reinstates fee for tenants who sue landlords

Posted: 09 Jul 2021 05:00 AM PDT

Even as New York celebrates a summer reopened, the city’s housing court, by and large, is still operating with pandemic guardrails. A moratorium on evictions will stand for at least seven more weeks, and hearings continue to be held virtually. Yet the court recently repealed allowances that made it easier for tenants to sue their landlords during the pandemic. As a result, an online filing tool built to help tenants access courts has been rendered

Eric Adams, real estate, and the mystery of crime

Posted: 09 Jul 2021 04:30 AM PDT

Bill Bratton, Ray Kelly, Thomas O’Neill and Rudy Giuliani know exactly what drove crime down in New York City: They did, of course. The police commissioners’ strategies — CompStat, precision policing, stop-and-frisk, data analysis and more — and the mayor’s zero-tolerance approach coincided with a breathtaking drop in crime that lasted from the early 1990s until the pandemic. The real estate industry profited handsomely. Nothing is more important to the value of homes, offices and

Blackstone’s $285M refi tops list of outer-borough loans in June

Posted: 09 Jul 2021 04:00 AM PDT

Real estate financing in outer boroughs continued to be healthy in June, at least among larger deals, as the 10 biggest loans totaled $1.42 billion, more than twice the amount of a year ago. The uptick started in May when the 10 largest loans were worth $1.6 billion, nearly double the May 2020 figure. Queens and Brooklyn each had four of the 10 largest June loans. Here is the complete list: 1) Flush with cash