The Real Deal - New York Real Estate News

Law firm takes 144k sf at Brookfield’s Two Manhattan West

Posted: 22 Jun 2022 11:04 AM PDT

One of the world’s biggest law firms is moving into Brookfield Properties’ Two Manhattan West, less than one year ahead of its scheduled completion. International law firm Clifford Chance is leasing 144,000 square feet at the Hudson Yards office property, Brookfield announced on Wednesday. Financial terms of the long-term lease were not disclosed. Clifford Chance will occupy floors 39 to 42 in the 58-story, 1.9 million-square-foot skyscraper, which is slated to be completed early next

Julia Koch revealed as buyer of dated $70M Southampton estate

Posted: 22 Jun 2022 10:06 AM PDT

Sources have outed the buyer behind the $70 million Southampton purchase reported in November. David Koch’s widow, Julia Koch, bought 840 Meadow Lane, Page Six reported. Her representatives did not comment to the publication about the report. The Southampton sale was one of the biggest residential deals in the Hamptons last year. The eight-acre estate, which was listed for $75 million, includes a 15-bedroom, 22,000-square-foot Tudor-style home, 500 feet of beach frontage, a beachfront deck,

Chetrit secures lifeline at Empire Hotel

Posted: 22 Jun 2022 09:00 AM PDT

Joseph Chetrit lives to fight another day at his Empire Hotel. Chetrit and his partners on the Upper West Side hotel, the Podolsky brothers, negotiated a modification on the property’s $170 million mortgage after falling behind on payments, a person familiar with the agreement told The Real Deal. The partners got a two-year extension on the loan at the 427-room hotel near Lincoln Center at 44 West 63rd Street and reduced the interest rate. In

Condo board fails to evict buyer of discounted 1MDB penthouse

Posted: 22 Jun 2022 07:45 AM PDT

The condo board of the luxury Walker Tower has suffered another defeat in its attempt to eject the owner of the building’s penthouse. A New York Supreme Court judge dismissed the claims of the building’s condo board last week, Crain’s reported. The judge threw out the complaint because the condo board failed to put the government — which initially seized the penthouse — as a defendant. The controversy surrounding the penthouse at 212 West 18th

Housing affordability drops to 15-year low: Zillow

Posted: 22 Jun 2022 06:45 AM PDT

The aughts are back in style, with early-2000s inspiration trending in fashion, music and mortgage costs. Housing affordability last month reached its lowest point since at least 2007, according to a recent report from Zillow. That’s as far back as the company’s affordability metric goes. Housing prices continued their rise, though the growth acceleration finally showed signs of slowing last month. Meanwhile, mortgage rates and payments continue to balloon, while inventory is not recovering quickly

Top-performing Douglas Elliman agent pulls team to Sotheby’s International

Posted: 22 Jun 2022 05:00 AM PDT

A top-performing Douglas Elliman agent and her team has made the leap to Sotheby’s International Realty on a hunt to do more business at home and abroad. Daniela Sassoun, along with her colleagues Mark Mistovich and Daryl Eisenberg, have joined Sotheby’s East Side Manhattan Brokerage. Sassoun’s sales volume ranked her nationally as Douglas Elliman’s No. 25 agent in 2021 and No. 16 in 2020. In 2022, she was ranked among RealTrends and Tom Ferry America’s

Manhattan’s biggest loans in May led by rentals

Posted: 22 Jun 2022 04:00 AM PDT

Two luxury rental buildings on the Upper East Side fetched about 40 percent of the cash in last month’s 10 largest Manhattan real estate loans. Rental buildings also drew large loans in the West Village, as renters paid a record average of $4,000 in May to live in the city’s central borough. The 10 largest Manhattan real estate loans recorded in May totaled $1.5 billion, lower than April’s $1.7 billion, and $1.8 billion from a